THE CONVENTIONAL MARKET TRADING AND THE DIGITAL CURRENCY MARKET TRADING
Hello to everyone in this great community today and in this wonderful platform in general. I greet you all in good spirit and I want to believe that we all are doing just great today and if so we give God the praise for the sustenance of life and good health.
It is the start of the weekend and I want to believe that we all have a wonderful week with family and friends in our local community. It is a nice feeling to be amidst you all today and as such I am here with a high energy to begin today's discussion with you all.
Today I am here to discuss an important topic that has been on my mind and I have titled today's discussion The conventional market trading and the digital currency market trading. This is a very interesting topic which I want to discuss with you all, as such I urge you all to sit tight and relax as I begin the discussion for the day. I wish you a happy reading!.
Before we begin the teaching for today I will like to explain certain terminology that I have put down and this is to make us understand the concept of today's topic and these terminology is said to be the conventional market.
WHAT IS A CONVENTIONAL MARKET?
A conventional market is said to be a meeting point where individuals regarded as traders come to buy and sell goods and services as the case may be. It is a physical gathering where an individual get to see what he or she is either buying or selling in the conventional market and here all the asset that are either been sold or purchased can be touched by the traders.
Here traders can see each other and also have a one on one discussion with each other in the conventional market. In this market, an individual who wants to buy a particular asset does not have to contend with other individuals in the market and everyone has different things in mind to purchase.
It is only competitive when the sellers of a particular asset are much in the market and this will lead to a reduction in price on the part of the sellers in other to please or be in the better spot to sell of the said asset when a buyer appears to purchase such asset which is readily available in high number.
When this happens the price of the asset is affected because sellers are in competition with each other and everyone wants to sell off their asset. The major problem that is involved in the conventional market is that the assets may be of different quality also most traders would not want to disclose the truth to buyer and hence they would want to pull the wool over buyers eyes.
On that note, buyers are expected to be more careful about the asset they purchase and it should be in accordance to the quality needed else a buyer will be sweet talked by a seller who is just anxious to sell off his asset and make profits in the conventional market.
In this kind of market, most time traders trade with the accepted conventional currency that is often regarded as the legal tender. The legal tender is the accepted currency that is used for purchases in the conventional market and it can be used to purchase anything that is kept to be sold in the market.
THE DIGITAL CURRENCY MARKET
On the other hand the cryptocurrency market is quite different from the conventional market and this is because it has no physical location and traders can not them themselves. They only execute their trades in the market as though it is via online and there is a platform that you have to launch your trades and this platform is called the cryptocurrency market.
This is where the digital currency is been traded and in this market, a trader can only trade digital currency. Trading covers both purchases and demands that is to say a trader can launch the cryptocurrency market application to either sell off his or her digital asset or to purchase any digital asset according to one's choice.
In the cryptocurrency market trading, the issue of quality is eradicate as though the asset there are all digital currency and as such it has a particular price and in every trading platform you launch, the price value of the particular asset is the same.
Here when executing a trade, you don't see the buyer nor the seller but one thing is sure and that is, the trade will certainly be true as it only requires your device and this can be done anytime and anywhere. It does not have a specific timeframe to make your trade. Whenever you login, you will certainly execute your trade without no disruption as we get to see the market always functioning at all times.
CONCLUSION
The both markets are trading platforms where traders come to either buy or sell an asset in the market. That is the similarities between them but the difference is that in conventional market trading, traders see themselves and they negotiate about the price of the particular asset that is to be traded.
While in the cryptocurrency market trading, traders do not see nor verbally communicate with each other but trades are performed effectively without no disruption. Also the digital market is a place where you can only trade cryptocurrency assets
Thank you all for having me today. I look forward to seeing you all next time.
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