24 November 2020 - Trading tip
Due to increased market excitement and volatility, we recommend our members trade through BTC to increase the chance of trades being successfully completed.
What does this mean?
Cointree allows trading of any asset to any asset. For example:
- AUD to ETH
- ETH to XRP
- XRP to AUD
Each one of these above is called a trading pair. Cointree allows trading of over 18,000 trading pairs.
We're recommending our members avoid trading pairs that don't involve BTC at the moment. Instead, we encourage trading through BTC to increase the chances of trades being successfully completed. In the cases above, this would mean:
- AUD to BTC, then BTC to ETH
- ETH to BTC, then BTC to XRP
- XRP to BTC, then BTC to AUD
Why does this recommendation help increase success?
Most global markets use BTC as a primary pair, resulting in more liquidity on trading pairs that use BTC. More liquidity means less volatility, and therefore more chance of successful trades.
This recommendation is optional and members can continue to trade any trading pair if they wish.