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Written by Cari Scribner on January 11, 2022
Category: 
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What Cryptocurrency Does TradeStation Offer?

TradeStation is a commission-free online investing platform that touts itself as being a good choice for both beginning and more seasoned traders.

The platform allows you to trade stocks, ETFs, options and crypto on a powerful app with broad market access and competitive pricing models.

When it comes to buying and selling crypto, TradeStation Crypto is a cryptocurrency broker and a member of the TradeStation Group family of companies.

What Is Cryptocurrency?

Cryptocurrency is a digital payment system measured by coin units that rely on cryptography for safety and security.

Unlike traditional currencies, for example the U.S. dollar, the coins and their transfer are not controlled by any central government or authority. This allows the payments to flow person-to-person swiftly, but it also poses challenges.

Most crypto exchanges are not insured in the way traditional investing accounts are by entities such as the Federal Investment Insurance Corp (FDIC), which covers your cash reserve accounts up to $1,000,000.00.

What Cryptocurrency Does TradeStation Offer?

According to company literature, TradeStation Crypto is constantly looking to add new supported crypto coins.

However, at this time, here’s what you can trade:

  • Pairs to USD: Bitcoin (BTCUSD), Bitcoin Cash (BCHUSD), Ethereum (ETHUSD), Litecoin (LTCUSD), USDC (USDCUSD)
  • Cross Pairs: Ethereum/Bitcoin (ETHBTC), Litecoin/Bitcoin (LTCBTC)

How Do I Start Trading Crypto On TradeStation?

It is simple to launch your crypto trading and analysis with TradeStation Crypto.

Here’s how to get started:

  1. Open a TradeStation Crypto Account and a TradeStation Securities equities account
  2. Fund your TradeStation Securities equities account with U.S. Dollars or deposit eligible cryptocurrency into your TradeStation Crypto account
  3. Log in to the TradeStation Crypto platform
  4. Start trading

Does TradeStation Offer Wallets?

TradeStation Crypto is a brokerage service and not a wallet service. Therefore, they do not provide personal wallets to customers. The brokerage service was built to leverage third-party wallet services providers to hold the crypto assets in members’ accounts. They use the wallet services of BitGo, whose sole responsibility is to provide a wallet solution for crypto assets.

Tradestation crypto 2

What Is A Crypto Wallet?

A cryptocurrency wallet is a software program that allows you to store, send and receive digital currencies.

However, because cryptocurrency doesn’t exist in physical form, your wallet doesn’t actually hold any of your coins — instead, all transactions are recorded and stored on a database called a block chain.

Some cryptocurrencies offer their own official wallets, while other products let you  store several differing currencies in the same wallet.

But different digital currencies have different address types, and you’re usually able to send coins between the same type of wallet addresses only. For example, you’ll need to send Bitcoin to a Bitcoin wallet address.

Is Crypto Trading Risky?

Like any investing, the answer is a resounding yes! The risk of loss in purchasing, selling and trading cryptocurrency can be substantial,  particularly because there is no insurance or governmental directives in place. Always give careful consideration to your financial situation, resources and goals before you begin trading cryptocurrency.

What Are TradeStation’s Crypto Trading Fees?

The platform has eliminated the trade-volume-based exchange and clearing fee rates that are charged by some other crypto exchanges. They did this with the philosophy that investors shouldn’t have to pay more just because they didn’t trade enough in a certain month.

In order to simplify fees for their members, TradeStation charges transaction fees based on the amount of assets you hold on deposit.

Conclusion

TradeStation is a popular online investing platform that lets you buy and sell a limited list of cryptocurrencies. It is noteworthy they do not tack on fees based on the number of transactions you make over a short period of time.

Because cryptocurrency is not insured or covered by any government or regulatory agency, you should always proceed with caution when starting to buy and sell the digital coins.

In addition to crytpos, TradeStation also offers a number of other features. Be sure to check it out today!

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Article written by Cari Scribner
Cari Scribner is a career journalist with 20 year’s experience writing for newspapers and magazines. Now a freelance writer, she is also a published fiction writer with more than 15 short stories in literary mags. She recently completed a novel that is on the desk for consideration at two publishing houses. She lives with her two small dogs, Miloh and Lucy, in Upstate NY.

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