What are Crypto Exchanges Rates?

Cryptocurrencies are digital money with no physical form but still have the same application cases as traditional fiat currencies. For example, having crypto on your wallet, you can use it for settlements on some online and offline shops, order stuff, book an apartment or a travel tour, fill your car at a gas station, etc. Indeed, use cases for crypto still have room to grow, but we already see how the industry is expanding and receiving adoption in the real sector.

Another popular way to use crypto is investment and trading. The fact is that this market is incredibly volatile –  cryptocurrency live prices change almost every minute, allowing traders to use those fluctuations with benefit. Why are crypto rates so volatile, and how to use them? Let’s discuss it below.

The Main Crypto Indicators

Look at the crypto ranking on Coinmarletcap. You can see the leading assets coming first, followed by less popular coins and tokens. Each of them has its rate (price) displayed in dollars. Also, you can see other figures, for example, market capitalisation and trade volume:

• market cap indicates the value of all the assets that have been issued in circulation;
• trade volume is the sum of all trades conducted on exchanges with a particular asset during a certain period, usually 24 hours, measured in dollars.
• cryptocurrency live rate – the current price of an asset in dollar value.

Since the government or central banks do not issue digital assets, it is difficult to control their rates and impossible to make them still. The crypto market follows the factors:

1. The overall situation in the world, inflation, and crisis.
2. Demand and supply on a particular crypto asset, competitors, etc.
3. The emission of a particular asset (limited or unlimited).
4. Reputation of a project, backers, investors.
5. Technical features of a project.
6. The market sentiment, trends, hype, and news background.

Having the ability to analyse the factors listed above, investors can predict future cryptocurrency rates fluctuations, which is the key to successful trading.

To buy cryptocurrency for investing or trading, go to the WhiteBIT crypto platform. It is straightforward and transparent, with no hidden features. You will enjoy using its interface and trading tools. The platform functions officially under European jurisdiction, so it takes care of the safety of clients’ funds.