Finding Low Cost Ways to Switch Between Crypto, Stocks and Forex Trading

As cryptocurrencies have become a legitimate financial asset class in their own right, trading in cryptoassets has become more and more integrated with mainstream traditional asset trading.

Over the past few years there has been rapid push by many mainstream trading platforms to include the assets and instruments that make up the cryptocurrency market, as these cryptocurrencies are not only highly volatile but also potentially highly profitable.

However while the crossover between the cryptoassets market and traditional markets progressively increases, many traders are still struggling to be able to quickly and cost effectively transition funds from one set of asset classes to another.

In a financial age that is more interconnected and streamlined than ever before, a major pain point with traders and investors globally is in efficiency of the interconnections between the cryptoasset market and traditional market.

It’s Expensive to Manage Multiple Accounts for Different Asset Classes

An obvious solution would be to open one account at a trading platform that specializes in cryptocurrency trading and one account in a traditional asset trading platform that provides access to stocks, forex, commodities, and other traditional instruments.

Although the solution is workable and many traders are already having to suffer through a similar scenario to this, the inefficiencies traders experience by having to use multiple accounts and to transition significant amounts of assets between them, means that this solution is less than optimal to say the least.

In a profession where the difference between being profitable and not being profitable can be fractions of a percent, and where deviations in profit margins over the months and years have a tremendous impact on long-term profitability, having to pay additional fees for transferring funds between separate accounts can have significantly negative effects.

What is for sure is that this less than optimal solution could certainly be improved upon with the use of a central platform that did not require hefty fees for transferring funds from one asset class to another.

Cross-Asset Trading is Slowed Down

As well as the inefficiencies of the cost of using multiple accounts and having to transfer assets between, there are substantial inefficiencies relating to time as well.

Often transferring funds and making cross-platform exchanges and conversions can be time consuming and depending on the strategies being implemented, can have a significant effect on the efficacy.

The difference between being able to quickly and easily transfer Bitcoin into Japanese Yen, for example, compared to having to submit a withdrawal on the Bitcoin blockchain and wait 30 minutes on average for that transaction to be completed, can all but destroy the profitability of any time sensitive trading strategy.

While this is a single example, there are many other similar strategies that would be scuttled by a substantial amount of time being required in order to make transactions across different asset classes.

There are a range of manually-executed and autonomous trading strategies that rely on the ability to make low-time-cost transactions of one asset class to another.

Here’s a Way to Trade Cross-Asset with Low Costs and Instant Transfers

A solution which is optimal in comparison to having to use multiple different trading platforms for each asset class is to use a platform that provides a range of asset classes to trade in the same place.

PrimeXBT is the world's leading multi-asset margin trading platform, and over the past two years the platform has grown to manage up to $2 billion worth of global trade every day.

Traders and investors at PrimeXBT are able to make near-instantaneous transactions and exchanges between different asset classes as diverse as cryptocurrencies such as BTC, ETH, XRP, LTC, and EOS, stock indices such as the NASDAQ and SP500, forex pairs such as EUR/USD and AUD/CHF, and commodities such as oil and gold.

Trading at PrimeXBT is cheaper than any other major financial trading platform online today with a low flat rate of 0.05% applied to all asset classes and all volumes, allowing traders to access a low cost solution to making cross-asset transfers and exchanges.

A Range of Other Advantages at PrimeXBT

As well as being a leading multi-asset trading platform, PrimeXBT also offers industry-leading leverage of up to 100X on all cryptocurrencies and traditional assets, and provides a range of advanced order types including OCO and various stoplosses.

PrimeXBT’s security is second-to-none and as a result of a range of bank-grade security features that are integrated into the core of the platform, PrimeXBT has never been hacked or breached.

PrimeXBT also has an intuitive and easy-to-use interface that suits the needs of beginners and expert traders, with a powerful trading engine that can execute up to 12,000 trades per second, and because of this PrimeXBT to traders enjoy optimal entry and exit points.

The platform also packs a wide range of features and unique tools that include PrimeXBT Turbo, a short-term Bitcoin-settled accounts platform that allows for higher profits over a short period time, and PrimeXBT’s Covesting Module, which allows for the creation of peer-to-peer investment funds and advanced social trading.

Final Thoughts

As the cryptoasset market and traditional market become more integrated, there is a greater need for traders and investors to be able to quickly, seamlessly, and cost effectively transfer value from one asset class to another.

As this need is growing in the marketplace, it has largely been unresolved until now, with sub-optimal solutions such as the management of multiple trading accounts and payment of costly transfer fees being common.

PrimeXBT is the world's leading multi-asset margin trading platform and provides the ability for traders and investors to hold and manage a wide range of different asset classes under a single account, reducing the cost of trading various asset classes substantially, and also virtually eradicating the time it takes to execute such transactions.

To find out more about how PrimeXBT solves this problem, and the features and asset listings on the platform, check out this link.