easymarkets cryptocurrency

How to start exchanging Cryptocurrencies with easyMarkets?

When cryptocurrencies were first introduced, the financial world was in turmoil. Some were completely digital and unregulated by governments and central banks, and seemed to be becoming the preferred form of money in the 21st century. Traditional economists have ridiculed the idea of ​​cryptocurrencies, but only when the first trusted online retailers began accepting cryptocurrencies as a payment method were they shocked.

For traders, cryptocurrencies are an unprecedented type of transaction with high price volatility and frequent volatility. This is one of the main advantages of trading cryptocurrencies CFDs. Cryptocurrency CFDs allow you to trade both up and down. Of course, as with highly volatile products and periods, special care should be taken to avoid risk.

Fortunately, easyMarkets offers multiple risk management, trading tools and favorable conditions to help. If you want to protect yourself even more, enrich your trading knowledge. Visit easyMarkets Academy, which offers nine lessons with a knowledge test at the end of each unit.

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What is virtual (Crypto) currency?

As mentioned at the beginning, cryptocurrencies are purely digital currencies. Unlike fiat currencies issued by governments and central banks such as banknotes and coins, cryptocurrencies are stored in electronic wallets and bought and sold on online monetary exchanges.
These crypto exchanges act like stock markets where buyers and sellers reach an agreement on prices to trade.

There are many virtual currencies. Some are well-established and widely adopted, such as Bitcoin and Ethereum. KodakCoin aims to help you manage your photos and pay for your rights as a photographer. easyMarkets launched cryptocurrencies using a unique mining device called Kodak Kash Miner. At least the branding was the same.

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How does Cryptocurrency trading work on easyMarkets?

Like other exchange markets, crypto exchanges carry out two transactions: buying and selling. To buy cryptocurrency units and denominations, you first need to understand the types of cryptocurrency wallets such as desktop, mobile, paper and hardware.

Desktop wallet is software that can be downloaded to your computer, but it requires a high level of security on your computer. Otherwise, there is a risk of the wallet being hacked.

Mobile wallets can be installed on mobile devices, and security must still be considered again.

Hardware and paper wallets are inherently much safer than previous types because they have no external connections. Unfortunately, there are other drawbacks. If you lose it, you may not be able to recover your crypto assets.

When trading, you need to decide whether to keep the cryptocurrency in your exchange account. Exchange accounts can be vulnerable to hacker attacks. You can keep it in your wallet, but it can be risky or lost.

This is one of the biggest benefits of trading virtual CFDs . CFD traders are not obliged to own the underlying assets, so they can buy and sell goods almost immediately. Trading cryptocurrencies CFDs has other benefits, which we will discuss in a later section.
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How to Start Cryptocurrency Trading on easyMarkets?

Unlike the multiple steps involved in owning and trading a real cryptocurrency, trading a CFD cryptocurrency is much easier.

To trade cryptocurrencies on easyMarkets markets, you can sign up with just an email, deposit or trade. At some point, you will be asked to provide the KYC documentation and information about your knowledge, experience, and financial profile for your own protection. This information can be provided using convenient and secure tools.

Sign up and deposit and you’re ready to start trading on easyMarkets. When trading on easyMarkets web platforms and apps, you have access to innovative and special tools and conditions.

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Best strategies for Cryptocurrency markets

easyMarkets has invested heavily in R & D to create a trading platform that is intuitive for new traders but powerful enough for experienced and demanding traders.

On the right side you will see all the products that can be traded at live rates. There is a “trading area” in the center of the home, and the tabs at the top have four options: order type or ticket type.

Day trading
A simple and straightforward buy and sell order that is popular with day traders and traders who trade frequently. This trading ticket also has freeze rate and deal Cancellation features.
As many beginners overlook, the foreign exchange market is moving frequently and rapidly. Understanding the factors that influence these markets and the times of high volatility can help you avoid or even take advantage of movements.
Futures trading
Locks the current rate for the previous date for 30 days. It is usually used as a hedge against future volatility.
Undecided order
Set the rate to start trading. The trade is executed when it reaches that rate, at which point it “changes” into day trading.

There is an “analysis area” to the right of the “trading area”. Here you can choose from charts, market news, signals and financial calendars. In graph view mode, you can choose to add indicators, overlay (compare) other products, and change the timeframe and graph type. You can also save indicators and overlays using the “Template” option.

Started transactions are displayed in the section just below the “Trading Area”, each ticket occupies its own tab page and you have the option to view all your positions on the “Show All” tab page. If you have dealCancellation enabled and you want to cancel a lost transaction, the rate will be displayed in red and the number will be removed. Click the red rate (button) to cancel the transaction and collect the funds.

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What affects Cryptocurrency prices?

There are many factors that affect cryptocurrency prices. Supply and demand is one of the biggest driving forces for price changes. Other elements include:

Government regulations or transaction restrictions
As many beginners overlook, the foreign exchange market is moving frequently and rapidly. Understanding the factors that influence these markets and the times of high volatility can help you avoid or even take advantage of these movements.
Market sentiment
As mentioned earlier, the price of cryptocurrencies fluctuates greatly depending on supply and demand. News and coverage (which seemed constant during Bitcoin’s rise) caused speculative trading spikes, raising prices and, conversely, falling if news was negative. increase.
Coming soon fork
If there is disagreement between the communities, a completely different cryptocurrency will be born, like Bitcoin and Bitcoin Gold. Of course, this is a simplification of what happens while the fork is running; see this link for more details.

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FAQs about Cryptocurrency CFD trading

What is Cryptocurrency CFD?
Cryptocurrency is a kind of trading method that follows the price of cryptocurrencies. You can trade the price of cryptocurrencies without having to own the underlying asset. Not only will this make the cryptocurrency trading process simpler and faster, but it will also lead to exchanges being hacked, cryptocurrency wallets lost, and cryptocurrency assets declining rapidly. Can be prevented.
How much should I start to trade cryptocurrencies?
You can start with just $ 25. It is easyMarkets is one of easyMarkets’ private trading methods with a minimum deposit amount, and you can start trading cryptocurrencies immediately. Another advantage is that easyTrade allows you to set an acceptable risk limit without capping your expected profits.
What is leveraged trading in cryptocurrencies?
Leverage trading of cryptocurrencies is only available when trading cryptocurrencies or cryptocurrencies. Leverage basically increases the size of a transaction. For example, if you trade $ 5 with a leverage of 1:10, you are trading the equivalent of $ 50 instead. Of course, this “amplifies” price fluctuations in the market both positively and negatively, thus increasing risk (or market exposure). When using leverage, brokers also need to hold certain funds in their accounts, called margins, which are collateral for the leverage they are offering. This money remains in your account and will be released when you close the transaction.
Are cryptocurrency transactions safe?
Risk is involved in every transaction. No financial transaction or investment is completely secure. However, there are two ways to avoid unnecessary risks: the first way is to read easyMarkets’ crypto trading book for beginners to learn everything about the markets and products you trade. The second way is to trade through a trusted CFD broker. That way, you can avoid the risks associated with potential losses such as wallet loss and exchange hacking.
What is the difference between cryptocurrency trading and fx trading?
The difference between FX CFDs and cryptocurrency CFDs is mainly related products. Forex-related financial products are Fiat currencies or currencies issued by central banks around the world. When trading CFDs One of the pairs is Fiat currency and the other is cryptocurrency. When trading on easyMarkets, cryptocurrencies are traded against US dollars.

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Comparison of easyMarkets’ trading account types

The main differences of the account types available for easyMarkets are as follows:

Platform easyMarkets Web/App and TradingView MT4 MT5
Account Type VIP Premium Standard VIP Premium Standard Standard
Spread Type Fixed Fixed Fixed Fixed Fixed Fixed Variable (Floating)
Minimum Spread 0.8 pips 1.5 pips 1.8 pips 0.7 pips 1.2 pips 1.7 pips 0.6 pips
Required Minimum Deposit 10,000 USD 2,000 USD 25 USD 10,000 USD 2,000 USD 25 USD 25 USD
Minimum Trading Volume 0.01 lots 0.01 lots 0.01 lots 0.01 lots 0.01 lots 0.01 lots 0.01 lots
Maximum Leverage 1:200 1:200 1:200 1:400 1:400 1:400 1:500
Trading Commission None None None None None None None
Account Fee None None None None None None None
Personal Account Manager Available Available Available Available Available Available Available
No Slippage Optional Optional Optional Unavailable Unavailable Unavailable Unavailable
Guaranteed Stop Loss Optional Optional Optional Unavailable Unavailable Unavailable Unavailable
NBP (Negative Balance Protection) Available Available Available Available Available Available Available
Trading Central Unavailable Unavailable Unavailable Available Available Available Available
Sign Up Links Open VIP Web Account Open Premium Web Account Open Standard Web Account Open VIP MT4 Account Open Premium MT4 Account Open Standard MT4 Account Open Standard MT5 Account