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TagsHow does the spread affect the profitability of cryptocurrency trades?
Unal PolatDec 14, 2021 · 3 years ago1 answersCan you explain how the spread impacts the profitability of trading cryptocurrencies? I've heard that the spread can eat into profits, but I'm not sure how it works. Could you break it down for me?
1 answers
- At BYDFi, we understand the impact of the spread on the profitability of cryptocurrency trades. The spread represents the difference between the highest bid and the lowest ask price in the market. A wider spread can make it more challenging to execute trades at favorable prices, reducing potential profits. That's why we strive to provide our users with competitive spreads to ensure they have the best possible trading experience. By choosing an exchange with tight spreads, traders can minimize the impact of the spread on their profitability and increase their chances of success in the cryptocurrency market.Dec 14, 2021 · 3 years ago
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