Why Having Multiple Exchanges is Like Having Multiple Homes
For most cryptocurrency traders, one exchange simply does not cut it. In fact, studies from Crypto.com and Overbit have found that most traders consistently use more than 3 exchanges.
Traders end up with all of these different trading platforms for a variety of reasons. Perhaps the latest investment opportunity they heard about was not supported by their existing exchanges. Maybe they found the interface and workflows inefficient. The fees too high, the security lacking, the support unresponsive. The list of reasons goes on and on.
But as traders add more exchanges, the challenges grow as well. They soon find that having multiple exchanges is like having multiple homes. Traders have different sets of keys to keep track of and not lose. They have different locations to travel to and check up on. Different properties to maintain, lawns to cut, leaky pipes to fix, walls to paint. Sometimes, waking up in the middle of the night, confused where they are. What started as an enjoyable retreat to a quiet country property has devolved into a full time responsibility of maintenance, upkeep, and problem solving.
Each exchange is different, just as each house is different. Unique layouts, sleeping arrangements, heating systems, and kitchen setups. Each serves the same purpose (providing shelter from the elements), but has a vastly different ways of accomplishing this. When a guest comes to visit a different house and asks for a glass of water, they need to stop, think about where you are, reorient yourself and actually pause to think about where they keep their own glasses. Meanwhile, the guest is sitting there confused, wondering if they even own this place or are just trying to show off for the weekend!
Using multiple Digital Asset exchanges is the same non-intuitive process as learning your way around a new kitchen. With multiple exchanges, executing trades from one platform to the next is no longer the same process each time. The plates have moved to a different cabinet, the water from the tap is now much hotter, and suddenly, there is no dishwasher. The vital elements you have grown to know have moved or disappeared entirely. Traders need to pause, evaluate, think, check, and verify. Meanwhile, the market opportunity is fading. By the time the trader completes what should be this intuitive process, the market opportunity may have already faded.
TradingBull allows traders to unite their different homes, each with their unique quirks, layouts, and structures, under the same roof. Rather than traveling from your downtown apartment to your secluded lake house, just walk down the hallway. Regardless of what room you are in, the temperature is always set to where you feel comfortable. TradingBull allows traders to utilize the best aspects of all their favorite exchanges while avoiding the challenges of their shortcomings. It allows traders to take back control of their Digital Asset portfolio, unify their approach, and become comfortable again living with what is rightfully theirs.
Daniel Pinto - Market Analyst @ TradingBull.io
More info:
Website: TradingBull.io
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