Crypto Currency Trading Quick Start Guide in English

Last Updated On May 4th, 2023

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 )

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.

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