Great Trading Gains - Worth The Risk?

If You Still Trust CEXs

It might be difficult for some to entrust their funds to a centralized exchange again after all the recent drama. However, if you know the risks involved and are willing to take them then there is an abundance of opportunities on exchanges such as KuCoin. Smaller projects amplify any move, whether it be to the upside, or to the downside. The altcoin relativity ratio and “bleeding dynamic” is something that I have addressed a number of times. The volatility is not over yet. If you really think that a bear market is going to surrender to a bullish reversal without any significant resistance, you might need to reconsider. The phase that we are in is like a game of tug of war. This is a draining period for some. They simply can’t deal with the constant up-down dynamic. I know some who have already walked away after becoming emotionally spent.

A Couple Of Choices

Trading micro-caps and smaller cap altcoins can be extremely rewarding, especially in volatile times. Apart from KuCoin, there are a few other CEXs that are relatively established and have managed to continue during these trying times. Hotbit is an exchange that has been around for some time and often lists coins and tokens long before any of the other exchanges. If I remember correctly, Torum’s XTM was listed on Hotbit long before KuCoin and Huobi. The exchange also has a long list of small and upcoming projects. These are obviously very high risk and one would need to perform extensive research before jumping in on any trades.

Another CEX that often has projects that are difficult to find on most exchanges is AscendEX. I have been personally using this exchange for approximately four years without any issues. The exchange also offers futures trading, along with KuCoin. There seems to be some connection with FTX, as their token was listed on FTX ages ago. Considering that the exchange is very much under the radar, it is a point to keep in mind.

Important Observation

Similarly, I picked up on Sam’s decision to back SOL by using Solana as the base layer for Serum, FTXs DEX early on in 2020. This is where I picked up SOL for under $0.30. Always watch what leaders do! I knew back then that it was just a matter of time before FTX would become an industry leader, as did I realize that Solana would follow, being the “chosen one” by Sam and FTX. Ask any CEO or business leader what they believe is the most beneficial subject to study and they will tell you, psychology. Knowing how to interpret actions and behavior is at the heart of effective leadership. Anyway… getting off point here.

Final Thoughts

For those who have experience trading markets, small caps can be a very profitable strategy. Please do not consider this an endorsement of any services mentioned. These are merely my thoughts and reflect only my personal experience utilizing these services. Always do your own research. This is not financial advice.

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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