How does the concept of lot size apply to buying and selling cryptocurrencies?

1 answers

• Dec 27, 2021 · 3 years ago
  Lot size is an important factor to consider when trading cryptocurrencies. It determines the quantity of cryptocurrency that is bought or sold in a single transaction. Different exchanges may have different lot sizes for different cryptocurrencies. For example, the lot size for Bitcoin on one exchange may be 1 BTC, while on another exchange it may be 0.1 BTC. The lot size affects the cost of the trade and the potential profit or loss. Traders should carefully consider the lot size when making trading decisions to manage their risk and optimize their returns. It's important to note that the lot size can also be influenced by the minimum trade size set by the exchange, which may vary for different cryptocurrencies.
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