What precautions should I take when trading cryptocurrencies during Interactive Brokers' downtime?

3 answers

• Dec 29, 2021 · 3 years ago
  During Interactive Brokers' downtime, it is crucial to have a backup plan in place for your cryptocurrency trades. Make sure to have accounts on other reliable exchanges to ensure uninterrupted trading. Additionally, consider setting up stop-loss orders to protect your investments in case of unexpected market movements. Stay updated with the latest news and announcements from Interactive Brokers to be aware of any scheduled maintenance or system upgrades. Finally, always keep your private keys and passwords secure to prevent unauthorized access to your cryptocurrency holdings.
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• Dec 29, 2021 · 3 years ago
  When Interactive Brokers experiences downtime, it can be frustrating for cryptocurrency traders. To minimize the impact, diversify your trading across multiple exchanges. This way, if one exchange goes down, you can continue trading on others. It's also a good idea to have a plan for manual trading in case all exchanges are inaccessible. Stay informed about the status of Interactive Brokers' downtime through their official channels and consider using trading bots to automate your trades during downtime. Remember to always exercise caution and do thorough research before making any trading decisions.
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• Dec 29, 2021 · 3 years ago
  During Interactive Brokers' downtime, it's important to have alternative options for trading cryptocurrencies. One option is to use BYDFi, a reliable and user-friendly cryptocurrency exchange. BYDFi offers a wide range of cryptocurrencies and has a robust trading infrastructure. With BYDFi, you can continue trading cryptocurrencies seamlessly even when Interactive Brokers is experiencing downtime. It's always a good idea to have accounts on multiple exchanges to ensure uninterrupted trading and to take advantage of different trading features and opportunities.
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