Which cryptocurrency trading platform to choose?

What is cryptocurrency?

In 2009, a certain Satoshi Nakamoto, still unidentified, introduced the first cryptocurrency - Bitcoin. He was tasked with creating alternative currencies to national currencies and organising unregulated transactions. The experiment proved successful and ushered in the era of digital currencies.

Cryptocurrencies have a mixed outlook. Experts make the boldest predictions: from a complete takeover of the world's financial market to a massive collapse. In the meantime, the cryptocurrency market is developing successfully: new types of coins are being developed, security mechanisms are being improved, and transaction times are getting faster. Today there exist a huge amount of different cryptocurrencies, but Bitcoin remains the most reliable and stable of the entire list.

Simply put, "cryptocurrency" is virtual money that is issued electronically through complex mathematical calculations. The tokens have no real physical form, are not backed by a commodity, and exist only on the internet in the form of software code in an online database of specific transactions. However, they have their own exchange rate and can be used as a means of payment and as a financial asset in which to invest.

How cryptocurrency works?

Today, cryptocurrency can be used to pay for goods/services (in a number of countries), but it is particularly interesting as an investment instrument. Among the main principles of its operation are:

Decentralisation. There is no single issuer, which means it cannot change the exchange rate or withdraw tokens from the exchange.
Inflation protection. The final issue is known, which preserves the value of the asset.
Anonymity. Many exchanges do not require personal data.
High yields in the long run. The price of crypto depends on demand. Despite the high volatility (rising or falling prices in the short term), its value increases in the long term.

Cryptocurrency is trending right now, but it is still in its initial development stage. Investing in something new always comes with challenges that you need to be prepared for.

Key features of cryptocurrency trading

Before attempting to answer the question "how to trade cryptocurrency," one needs first to become familiar with market terminology, types, and the history of the most popular cryptocurrencies. After that, decide on a trading platform. Key points:

Exchange contracts in this category are technically not much different from the usual currency pairs or securities.
The cryptocurrency market is characterised by high volatility and erratic mobility, which creates the risk of large losses and the possibility of equally large gains.
So-called "signals" or recommendations, which are now being traded by numerous pumppings channels, are often bogus and a way of capitalising on the confidence of newcomers.
This segment of the stock market is heavily influenced by news markers. Any news that quickly spreads about the purchase or sale of a large batch of cryptocurrency is almost instantly reflected in the exchange rate.
Because it is a relatively young asset, it is difficult to analyse the volatility of the exchange rate because there is a lack of data for the last 3-5 years. And the data that is available has no analytical value, reflecting only the evolution of the initial bubble that burst in 2018.
Nowadays, the trader's task is made easier by the availability of an impressive number of charts reflecting real asset movements per unit of time. In terms of forecasting, as mentioned above, cryptocurrency behaviour is highly dependent on news content and rumours spread.

Select particular cryptocurrencies to deal with after conducting a preliminary review of the rate dynamics of each of the category's major assets. The most popular are: Bitcoin, Ethereum, TRONIX (TRX) etc. Then, by placing an order and limiting losses, decide the optimal timing to enter the market.After starting to trade, a trader should always keep an eye on rate changes and wait for the right time to finish the deal and close a profitable position.

Types of cryptocurrency trading

Traditional online trading on specialized cryptocurrency platforms. In this case, the usual trading methods are used, taking into account the peculiarities of this asset mentioned above.
Exchange arbitrage. Quite complicated way of earning, suitable only for experienced traders, who can quickly estimate and react to the current situation. The essence of the method is to gain income from the difference in the exchange rates of cryptocurrencies on different exchanges. The fact is that today this market has a wide range of quotes, which are not regulated by centralized banking institutions.
Bitcoin exchange traded derivatives. Today, this sector has the possibility to work with - futures, contracts with which are also concluded according to traditional schemes. In this case, the buyer, expecting the cryptocurrency to rise or fall, must buy the underlying asset at the end of the transaction (expiration).

When you enter the field of crypto-trading, you need to understand how different it is from trading conventional currencies and securities. The cryptocurrency market is still quite young, so you need to keep a close eye on it and be able to adapt quickly to changes.

Buying and trading cryptocurrency on IQ Option

IQ Option is an online trading platform that allows you to trade a wide range of financial instruments, including binary options, stocks, forex, ETFs, commodities and cryptocurrency.

This broker was established in 2013 and quickly became one of the most popular trading platforms for traders around the world. It accepts traders from over 200 countries, including India, Nigeria, South Africa, the Philippines, Malaysia, Pakistan, Singapore and many more.

IQ Option trading platform

Unlike other brokers who use a standard trading platform, it has its own, customized platform to meet the needs of its users. The platform is very easy to use and well designed.

It has many useful features, including multiple chart layouts, technical analysis, historical prices, volatility alerts, market updates, stock checks, economic calendar and more. It is also available in 13 different languages.

The platform is available for both desktop and mobile devices. This enables the user to trade many different financial instruments. It has become a popular international platform with 50 million registered users.

IQ Opion Trading Conditions

The broker offers its clients the following conditions to trade:

It offers a variety of underlying assets (stocks, currency pairs, commodities, indices, Bitcoin).
Minimal deposit amounts to 10$.
Has the following option types: binary and turbo options.
Minimal investment is 1$.
Have demo account.
Offers bonuses and affiliate programs.
Up to 40% of losses can be covered.

Affiliate Programme from IQ Option

Up to 50% from each active user. Features of the affiliate program:

Dashboard: real-time display of statistics with advanced geo-analysis and detailing by sources, countries and registrations.
Postback: tracking technology allows you to transfer statistics to the advertising network the partner is working with.

Registration

Registration is simple - just enter your name, surname, email and password. Registration through social networks is also possible. In order to open a real trading account, you have to verify your account. Confirm the e-mail, mobile phone number, provide a copy of an identity card, if you will make a deposit from a bank card, it is necessary to upload a photo of a bank card.

Deposit and withdrawal

You can deposit money to your account via bank transfer, credit/debit cards Visa, MasterCard, electronic payment services such as YandexMoney, Qiwi, WebMoney, Skrill, Neteller. Withdrawal is possible to the same account from which you deposited money. All deposit and withdrawal operations are executed without charging any commissions.

Demo account

As soon as you sign up, a free demo account becomes available, which has a virtual balance of $10000 and allows you to make all the trades available for the real account. By using a demo account, traders can test their market strategies and study the tutorials of the platform for free. You can renew the balance of the demo account if you spend all virtual funds or switch to a real account, deposit and start trading once you feel ready.

Advantages of IQ Option

The main advantages of the broker's services are: Sign Up Bonus and affiliate bonuses, easy registration, prompt access to trading on a demo account and a convenient terminal for work. Thanks to it, traders can operate from any device. It is possible to open accounts and deposit funds to the account from a credit card.

The advantages are also:

affordable minimum deposit and betting
tutorials
analysis tools that can be used to make predictions before you enter the market
tournaments
simple and feature-rich trading platform
the ability to trade with a robo
professional customer support 24/7

Undoubtedly, IQ Option can be called an interesting, easy and safe broker, as there are a lot of counterfeit brokers out there today. To experiment all the benefits of the platform in practice, you can register right now by following the link below. Have a successful trading!