21.09.2018

How to trade cryptocurrency with IQ Option broker?

Cryptocurrency is called innovative digital money, created with use of cryptographic methods. Basic idea of these means of digital exchange is cause for popularity of crypto money. It’s encrypted and exchange operations between users without the participation of intermediary banks. When traditional international money transfers can be processed for weeks, crypto coins is sent in minutes.

Blockchain technology, which is basis of most cryptocurrencies, was originally created as a safe with constantly improve reliability. Therefore, fraud is practically impossible. Today, you can profit from volatility of the popular crypto money courses on IQ Option.

How to buy/sell cryptocurrency with IQ Option?

Now, on the platform are available 15 varieties of digital money. Bitcoin is most popular currency offered. From you don’t require creating wallets for each type to trade crypto coins. It’s enough to form a deposit in dollars to your account.

The money withdrawal will be done in same way. First, you can get useful skills on training account (demo). This opportunity will allow for you to understand the mechanism of buying/selling without risk of losing our own funds.

You need “Crypto” in the drop-down list of trade types and then to select any system offered by system. After opening a room of trade with a real chart, you should carefully study the behaviour of prices on different timeframes.

When will use your favourite indicators and other convenient technical analysis instruments, you able to determine a further price trend and buy a currency with a forecast that it will rise in price. Analysis used support lines (1), MACD (3) and RSI (4) oscillators.

To create a buying/selling, follow these steps:

  • indicate the number of funds (1) to be used for buying/selling;
  • set a limit for automatic closing of the buying/selling (2) to reduce the risk of losing the whole deposit;
  • choose purchase or sale (in this case, purchase is selected) (3);
  • the working area of diagram room will be displayed (4); When the target line is reached and crossed, then forecast will come true, which means that the deal is profitable.

On the chart with hour timeframe, each candle is 1 hour, so to close the deal you need to wait a few hours.

The purchase/sale closed with a profit after 5 hours of waiting.

Characteristic signs of trade in cryptocurrencies

The trade technology of crypto coins with IQ Option is similar to the approaches on traditional markets. However, unlike Forex, the cryptocurrencies markets are accompanied by steep uptrend/downtrends, which will appeal to adherent of bearish and bullish trading strategies. In January 2018, a price for an Ethereum coins reached $1,418, and today it is already cost $730.

And Bitcoin by the end of 2017 exceeded the mark of $20000, and after 3 months, his rate fell to $9300.

The extraordinary volatility of the digital currency is not only clear bull or bear tendencies and big profits, but also high risks. Therefore, in IQ Option, purchase/sale can be closed at any time, without to wait for automatic close. This allows you to reduce possible losses of equity.

Summary

Since the launch of Bitcoin first crypto coin, almost 10 years have passed. Today, these are the most expensive and reliable coins that have already enriched a lot of investors, traders and miners. Prospect of cryptocurrency is obvious, as its current share in the world market has exceeded $100 billion. This is no longer a comic project of programmers or a shadow payment system for banned purposes, but a real alternative to traditional money.

NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future

GENERAL RISK WARNING

The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.