nyse trading hours

Still Controlled by the NYSE Trading Hours? Try Crypto

Author: 
Joel S.
Date: 
October 12, 2018
Read time: 
6 minutes
Trading
Cryptocurrency
NYSE

The NYSE trading hours have opening and closing times. The NYSE opening time is 9:30am – lucky them. Putting a finite time on market trading was a great idea - before the invention of the internet. I hope they have stables for me to park my horse in.

The NYSE trading hours have opening and closing times. The NYSE opening time is 9:30am – lucky them. Putting a finite time on market trading was a great idea - before the invention of the internet. I hope they have stables for me to park my horse in.

Thankfully, cryptomarkets do not have a closing time. Everyone from around the world can make a trade anytime they want to. Now that’s freedom. All it takes to be a practical investor is to follow the crypto market news. Let’s compare the two and give you the underlying philosophy that drives crypto-traders.

 

 

The NYSE Holiday Hours Take Away From Trading

First up on comparisons between the traditional markets and crypto are holiday discussions. Already closed on weekends, the NYSE holiday schedule was released through 2020:

  • New Year’s Day
  • Martin Luther King, Jr. Day
  • Washington’s Birthday
  • Good Friday
  • Memorial Day
  • Independence Day
  • Labor Day
  • Thanksgiving Day
  • Christmas Day

The NYSE trading hours also close early the day before Christmas and the day after Thanksgiving. That’s nine days where trading is closed because of an NYSE holiday and an additional two half days. The NASDAQ trading hours are slightly longer but every bit as restrictive. If you follow the crypto market news, no holidays have ever shut down trading.
 

Crypto Trading Hours Reflect Reality

Most cryptocurrencies implement blockchain technology. Decentralized servers from around the world host parts of the network. As a global technology, trading needs to be open all hours of the day – compared to the NYSE trading hours. Furthermore, individuals can trade cryptocurrencies among themselves without needing a 3rd party exchange. The only reason such exchanges exist is to simplify the process.

Traditional Centralized Exchanges

Like the NYSE, large exchanges play an important role in today’s modern fiat economy. Exchanges provide trust to traders by creating a transparent, immutable, and public ledger. It is the exchange itself that does the recording via data collection. The demand for various assets increase or reduce prices. The traditional, centralized exchanges are instrumental in creating trust in the system. Government regulations keep illegal trades from happening and the whole system is centralized.
 

Cryptocurrency Exchanges

Some crypto exchanges are centralized. These operate by tracking every trade on proprietary servers allowing users to trade in real time with other people. There are also decentralized exchanges that allow for trades to occur without a 3rd party intermediary. The main difference between crypto and traditional exchanges has to do with trust. Trust in crypto trading comes from the underlying protocols of each coin, not the exchange. Whereas trust in fiat currency comes from the exchanges and more importantly, the government.

nyse trading hours

Cryptocurrency decentralizes markets. There is no government red tape, NYSE trading hours, or an NYSE holiday preventing you or anyone else from starting to trade. No minimums and no maximums, it is a free market. While governments place local restrictions with penalties enforceable by law - they can’t shut down the internet. Even if crypto trading is made illegal somewhere, it will never take crypto exchanges offline.

Crypto markets empower users but the extremes of the free market mandate investors take responsibility for their own safety.

Cryptocurrency trading solves 5 major issues plaguing traditional exchanges

New technology inevitably surpasses old tech. Lacking an NYSE opening time, you can trade when you want to. Crypto is outcompeting and solving problems traditional markets suffer from. Cryptocurrency does more than outcompete the NYSE trading hours:

1. Brokers
Buying stocks requires using a broker - a middleman with authorization to buy and sell for you. A person who doesn’t work during an NYSE holiday. With crypto, ownership of funds, transfers, everything that a traditional broker would do is automated by the blockchain. This means anyone can own crypto with a simple click.

2. Micro-Investments
Chances are the money you have set aside for investments is in the hundreds or maybe thousands. This is a lot of money but compared to the big fish on Wall Street, your dollars mean nothing. With crypto, you can make investments of a few dollars without needing any certification to do so.

3. Infrastructure Monopolization
Traditional markets have built their own data center to sustain the NYSE trading hours. A mixture of private servers, company laid communication lines, and public internet makes the entire network bulky. Crypto uses decentralized trading by allowing individuals from around the world to use their private computers and the local internet to exchange data.

4. Listing Regulations
If a company wants to be traded on stock exchanges, they must jump through regulation hoops. There is no regulation around cryptocurrencies allowing all technologies to be valued via exchange.

nyse trading hours

5. Ownership Tracking
Purchases of stock require record keeping to track who owns what. Entries are either physical certificates or book entry on a digital ledger. Convoluted, requiring human attention for data input, mistakes happen. Couple these inefficiencies with limited NYSE trading hours and you have a recipe for disaster. Compare this to blockchain which records every transaction in an immutable ledger. When you own a cryptocurrency, it’s yours, no 3rd party verification required.

Trading crypto is the next step in market evolution. Find an expert or a news source that you can trust. This will help stay informed to avoid being taken advantage of in the crypto space.

 

Stay Updated With the Latest Crypto Market News

Bitcoin has only been around since 2009 - this is new technology. The various protocols being invented are aiming to solve real-world problems in established industries. From tracking shipments in supply chain management to creating a global method of value transaction - it’s exciting and growing rapidly.

Cryptocurrencies are not securities and should not be confused with stocks. They are pieces of the technology that has an integral purpose to the overall program. As such, the SEC considers them “utility tokens” and are regulated like a commodity. Because of this distinction, understanding the tech behind your favorite coins will help you make smart investment decisions. Following news updates and the latest trends will prevent you from succumbing to the dangers within cryptomarkets.

 

Three Investment Risks With Cryptocurrency

Low regulation paired with favorable crypto trading hours offers infinite possibilities for wealth and scams. I compiled a list of 3 dangers to look out for when investing in cryptocurrency.
 

1. Shitcoins
Not all coins are created equally. Bad protocols lack universal appeal dooming most coins to the dustbins of history. When interest in a crypto drops, miners will stop hosting the network and all your investment will be lost.

bitconnect chart

 

2. Pump and Dump Schemes
Wealthy individuals and companies buy up large quantities of low-value coins. They launch a marketing campaign across crypto market news platforms. There are also personalities such as John McAfee. Speculators will exaggerate the importance of his opinions to cause boom and bust cycles in coins. When the price goes up, they sell everything, making a profit while torpedoing the price of the coin.
 

3. ICO Scams
Initial Coin Offerings, in most scenarios, are considered securities by the SEC. If the company you are interested in is classified as such, it might be illegal to buy in your country. On top of this concern, there are examples of ICOs going dark following the initial fundraising round. Bennebit raised over $2.7 million before disappearing. They shut down their website, taking it all with them, leaving investors nothing.

 

Don’t Trade Crypto Without Learning From the Experts

Traditional markets are crippled by NYSE trading hours and the NASDAQ trading hours. The NYSE opening time is 9:30 am! Created for a world that existed before the internet, there are measurable challenges for entry into the market. Government red tape, brokers, large financial requirements, monopolization, and the restriction of new ideas make crypto trading hours a superior option.

Crypto markets empower users but the extremes of the free market mandate investors take responsibility for their own safety. The internet is flooded with information making it hard to discern who and what to trust. As a beginner, don’t dive into crypto head-first. Follow the latest crypto market news and start investing with the help of CryptoManiaks - experienced individuals you can rely on.

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