Which cryptocurrency trading platform to choose?

Nowadays, many are looking for opportunities for additional income. If you want to know how to trade cryptocurrency, then this article is for you.

What is a cryptocurrency?

Cryptocurrencies are virtual payment systems with their own monetary units, all transactions in which are protected by a cryptographic (encrypted) method. As a rule, systems are decentralized and do not have a single regulatory body or processing center. The term "cryptocurrency" was introduced in April 2011 after the publication in the American Forbes magazine about the first popular system of this kind - Bitcoin.

Where to get cryptocurrency and how to store it?

Mining

How to get cryptocurrency? There are several ways. One of them is through mining, that is, by receiving a reward for combining transactions into blocks and calculating the right key to seal the block. You can mine most of the existing currencies, but not all.

In addition to mining, of course, there is buying and trading cryptocurrency. You can buy coins in different ways, for example, in an exchanger or on a crypto exchange.

Exchanger

More and more online cryptocurrency exchangers appear on the Internet, which is not surprising: digital electronic money, with which you can pay for goods and services on the Internet, is becoming more and more popular every year.

Exchangers are available 24/7 services, for making transactions on which it is enough to go through a simple registration procedure: users are asked to fill out a certain form in which to enter their full name and email address, which will subsequently receive important information, reports and notifications.

Cryptocurrency exchanges

Cryptocurrency exchanges are not officially recognized as full-fledged exchanges, and have not received licenses. In fact, they function as large (or not very large) online services where you can buy or sell cryptocurrency, earning on the exchange rate difference between pairs. At the same time, the most famous services are already acquiring features characteristic of exchanges - for example, they allow margin transactions (on credit, with a certain "shoulder").

When you have already bought a cryptocurrency, the question arises: where to store it?

Crypto wallets

For the user, the principle of using a crypto wallet differs little from any electronic wallet. There is an address where funds are accepted. They are displayed on the balance sheet. But from the point of view of the network, this is just a set of records tied to a specific wallet, and not the real amount that a person owns. There are several types: software; hardware; paper. It is impossible to say that some is worse or better, just each is optimal for specific tasks. If you need a place to store coins, then a paper or hardware option is better. The advantage is that the wallet does not have constant access to the Internet, which means there is no risk of theft of funds by hackers.

How to invest in cryptocurrency without buying?

You can invest in cryptocurrencies without buying them. You will not need to open a crypto wallet. Contract For Difference is a trading tool that allows you to bet on securities without buying them. You just go to a broker, invest some money and predict the future price of a security.

If your prediction is correct, you will make a profit equal to the difference between the opening and closing prices.

CFDs are not traded on a specialized platform, all transactions are carried out in an electronic over-the-counter (OTC) format. Clients access CFD trading through brokers, which may also be referred to as CFD quote providers.

As already mentioned, CFD brokers are the link between the market and traders. Access to the financial market is carried out through a special trading platform, which usually has all the tools and technical analysis necessary for trading.

CFD brokers differ from each other in the number of available instruments, trading conditions and the quality of services provided.

Cryptocurrency trading platform IQ Option is a CFD broker that offers traders competitive trading conditions, namely:

easy of registration
quick access to trading on a demo account and a convenient terminal for work
traders can operate from any device

Pluses are also:

available minimum deposit from 10$ and bet from 1$
convenient training, video tutorials
analysis tools that can be used to generate forecasts before entering the market
tournaments
simplicity and versatility of the trading platform
chats with traders
technical support in different languages

Bitcoin. How to trade Bitcoin?

Bitcoins cannot be touched. These are not banknotes or coins. With electronic money on a bank card, Bitcoins also have little in common. Bitcoins are digital money with their own rules for conducting transactions that cannot be violated.

Bitcoin runs on the blockchain - this system is compared to a big book containing all the records of what happens to the cryptocurrency. And each Bitcoin owner has an independent, but identical copy of this book in his hands.

You can trade Bitcoin with CFDs on the IQ Option platform and use various convenient platform tools to do so.

Trading tools IQ Option

With IQ Option you will find many charting tools and variety to help you while trading. The charting tools you will have access to are candlestick charts, hollow candlesticks, area charts, line charts, and histograms. These charting tools are available on the IQ Option trading platform and you can use them while trading.

IQ Option Indicators

IQ Option offers the following indicators through its trading platform:

Moving Averages (MA): These indicators, such as smooth simple moving averages and exponential moving averages, can offer you insight into current trends and can be used with a variety of indicators.
Moving Average Convergence Divergence (MACD): This indicator shows where moving averages meet and split.
Relative Strength Index (RSI): This indicator helps to determine the strength of the current trend and possible reversal points. It also compares the absolute increase in the price of a trading asset with the overall price decrease.
Stoch or Stochastic Oscillator indicators: this is an indicator that shows the current price position and compares it with the extremes for the selected period; it is a percentage that helps identify possible reversal points.
Average True Range (ATR): this indicator shows the current volatility of the trading asset in the selected period, and also determines the rate of change of quotes.
Parabolic SAR : Similar to the MA indicator, but its position changes with price and it moves with a combination of high acceleration.
Average Directional Movement Index (ADX): This indicator shows the strength of a trend before a price move occurs, as well as any possible changes in market volatility.
Fractal: these are series that show the local maximum and minimum of the price curves, as well as market reversal points.
Commodity Channel Index (CCI): This measures the speed of price movement and helps traders identify upcoming market reversals or analyze the strength of a trend.
Alligator Indicator: This indicator helps to assess the market movement in the direction and helps to filter the side bands.
The Awesome Oscillator: This indicator is a visualized ratio of two simple moving averages, with one fast indicator and one slow indicator. This indicator shows new development.
Bollinger Bands: These indicators show trends in the dynamic price range.
Volume Indicators: These indicators determine the amount of your chosen trading asset that was bought and sold during a certain period, showing interest.

Explore the analytical capabilities of the platform

IQ Option Orders

Multiplier orders are order types that allow traders to increase their ROI or ROI with a multiplier. If you have a multiplier, the change in the price of your trading asset will increase by 20, 50 or 100 times. The order of multiplication can increase your profits.

Stop-Loss orders are order types that allow traders to determine the maximum financial loss they are willing to accept during a trade. With Stop-Loss orders, when you reach the financial amount you have set as your maximum loss, the trade is closed to limit your loss.

Take Profit orders are order types that work in the opposite direction of a Stop-Loss order, where you can close a trade early and profit when it reaches the amount you specify.

A pre-order is an order type that allows traders to enter the market only when the trading asset has reached the exact amount of the price specified by the trader. As soon as the trading asset reaches the specified price, the transaction will be executed automatically without verification.

Cryptocurrency trading: how to start?

Demo account

The best way to learn something is to try it first hand and experience it in real time. That's why IQ Option has given all traders access to a demo account so you can try out the platform without worrying about losing money in the process!

The IQ Option trading account to learn from is a demo account, an unlimited simulation for traders to try out their trading strategy without any financial risk. The demo account gives traders the opportunity to trade without worrying about financial consequences with ten thousand dollars of virtual funds.

How to open a demo account

Step One: Enter your full name, address and demo account password. You can also register by linking your social network to the app.

Step Two: Start trading!

How to switch between practice and real accounts?

To switch between accounts, click your balance in the top right corner. Make sure you are on the trading floor. The panel that opens displays all your accounts: real and training. Click an account to make it active and use it for trading.

Real account

Any demo account can be instantly turned into a real one by making a deposit, and the account balance will become equal to the deposited amount.

You can start trading with as little as $10 and the minimum trade amount is only $1!

To open a real account, you should click on the green button with the corresponding inscription in the upper right corner of the broker's home page, or click on the same area in the upper right corner of the demo account. The process consists of two stages - creating an account (skipped if you already have a demo account) and depositing funds into the account. It is worth noting that the first stage can be carried out not only through the standard registration form, but also using personal profiles in social networks. Deposits can be made using bank cards or electronic payment systems.

Practice on a demo account and start trading with a small amount, replenish the deposit when you are confident.

Replenish your real account from only 10 $

How cryptocurrencies work

Cryptocurrencies do not have a physical form and are stored in "electronic wallets". As a rule, data on user accounts and Bitcoin exchange operations between them are encrypted in the system using blockchain distributed database technology. The operation of the system is supported by users and volunteers who run its application on their computers.

Most cryptocurrencies, including Bitcoin, operate without a regulatory body. Usually, the only source of issuing virtual currency is its “mining” by users who run applications: they are transferred a small amount of virtual money for the use of resources (computing device power) of their computers.

History

In January 2009, the first version of software for working with the Bitcoin payment system appeared on the Internet. Its author (perhaps a team of authors) signed the pseudonym Satoshi Nakamoto.

Information about BTC on the Investment platform

Initially, the currency was only used by computer enthusiasts. On May 22, 2010, a programmer from Florida (USA) Laszlo Hanich for the first time documented used Bitcoins for a real purchase, transferring 10 thousand units of "cryptocurrency" to a user under the pseudonym Jerocs and receiving two pizzas from him. In 2010-2011, the first exchanges appeared on the Internet, where you could exchange Bitcoins for real currency. In the spring of 2011, Bitcoin reached parity with the US dollar. At the same time, analogues of Bitcoin began to appear, differing from it in encryption methods or other features. Among them are Litecoin, Etherium ("Ether"), Ripple, Dogecoin. In 2017, Bitcoin "split" into regular Bitcoin and, according to the developers, more reliable Bitcoin cash.

Since about 2011, Bitcoin, due to the anonymity of transfers, has been used by individuals associated with the drug trade and other illegal businesses. Since 2013, Bitcoins can be used to pay for services and goods in some online stores, hotel booking services.

So, the popularity of cryptocurrencies in the modern world is growing and the popularity of cryptocurrency trading is also growing.

Start trading with IQ Option and you will succeed!

Cryptocurrency Trading Platform - Ethereum, Tron, Bitcoin Trade