Crypto Currency Trading Quick Start Guide in English
Quick steps in English to register and start CFD trading on Crypto currencies ( Bitcoin, Etherium, Ripple and Dash etc ) with IQ Option Trading Platform.
CFDs* are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money ( * CFD’s : Stocks, Commodities, Currency Pairs, Cryptocurrencies)
Crypto Currency is a virtual asset created by solving a kind of complex mathematical formula. Though it is seems to be new to most, Bitcoin is very common in most of the developed countries and you can find bitcoin ATM's in some of those countries too ! So in IQ Option you can trade crpyto currency like Bitcoin, Etherium, Ripple, IOTA, Dash and many more popular crypto currencies by using Buy ( If you assume the price may go up ) / Sell ( if you assume the price may go down ) options just like in Forex trading. When trading crypto currency you do not have to worry about an expiry time but you can state a value for the trade to close when your target value is reached. Also in case the trade goes against your assumption in other direction, the maximum that you will be risking is the amount invested for the trade. So let's see how you can start trading crypt currency.
( IQ Option does not offer the direct access to the crypto market, it is available to trade CFD’s only )
Minimum Requirements to Trade
Minimum age limit is 18 years
NIC (in English only) or Passport ( for IQ Option )
NIC (in English only) or Passport or Driving License ( for Neteller / Skrill Accounts )
1 - Register with IQ Option Trading Broker for Free
Go to below link and then register with your email & password to start trading Binary.
Risk Warning: The financial products offered by the company 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
General Risk Warning: The financial products offered by the company 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
2 - Download the trading application for desktop, mobile or tab
Download the most suitable trading application based on your operating system ( Check in download section ). Then install it in your device. Once it is successfully installed, login to the trading application using your email and password.
3 - How to trade crypto currency
You can click on "+" sign in trading app and choose "Crpto". Then from the list , you can choose any of the crypto currencies. Then choose an amount, pick auto closing values ( mention a percentage for the trade to close when it reaches profit using "when profit is" value. Then "when loss is" value you can keep as it is or adjust accordingly ) and then choose either "Buy" or "Sell" depending on your decision. Same like in forex you can close the trade early or even adjust the auto closing values while trade is ongoing. Also using "Purchase at" button you can place the order at a different value too instead of making the order at current market price ( This is optional. Once you are familiar with trading, you can try this one ).
So once your "when profit is" value reaches, the trade will close giving you profit. In case the trade goes against your assumption and reaches "when loss is" value ( by default this is set to 95% but normally closes at 90% ). The trade will close with a loss. The maximum that you may loose in a trade is 90% of what you have invested for the trade at the moment.
4 - Practice in free demo account first ! Once successful, you can trade crypto currency in live account !
Practice first in free demo account ( If you really want to try with real money, don't put more than $10-$50 initially ). Once you are successful in demo account, you may deposit around $10-$50 using Skrill or Neteller and start live trading. Trade cautiously ( Only place a trade once you are very sure about the entry point ) with good money management ! If you are successful with a smaller trade account, you can consider moving to a higher capital account later on. Also keep in mind that trading is highly rewarding method but at the same time it is a high risk method. So invest only what you can afford to risk.
Some of the useful articles for you
Brokers for Crypto Trading other than IQ Option - Sin/Eng
Trending Market එකක Support / Resistance භාවිතා කරන ආකාරය.
Risk Warning: The financial products offered by the company 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
Good Luck ! 😎
