What is a Cryptocurrency?
Cryptocurrency is a digital asset (currency) that can be virtually generated and traded between individuals and businesses. Cryptocurrency market does not belong to any central bank, governmental or financial institution. In general, cryptocurrency is an electronic intangible currency, and its value is formed from common people. Trading CFDs (Contracts for Difference) for Cryptocurrency allows you to trade on the cryptocurrency market with no need to purchase any of the digital currencies. The principle of such trading is quite simple: what you invest in is the performance of the price of an asset you choose to trade with.
THE BASICS OF CRYPTOCURRENCY TRADING
The principle of buying low and selling high in order to profit is common for all the financial markets, and the Cryptocurrency market is no exception.
You buy 2 Bitcoins at $11,086.02 per unit (using our leverage).
After one week of trading with BTCUSD you decide to sell it and receive $1,896.98 of profit.
A week after you opened your position, Bitcoin was quoted at $12,034.51 (Bid price) to 12,075.21 (Ask price).
You bought 2 units and paid $22,172.04.
You sold 2 units and got $24,069.02.
Your profit is $1,896.98.
How is it possible?
You did not really purchase Bitcoins or sold them. You used our cryptocurrencies leverage to invest into the market performance of the cryptocurrency and got the profit of its price fluctuations.
Trading cryptocurrencies with us gives the following advantages:
As one of the leading cryptocurrency trading brokers in the world, IQProFX guaranties the most transparent, safe and comfortable environment for online investments. In order to succeed and profit from trading you just need to follow the news, macroeconomic reports and market movements to discover the best market opportunities. When trading on our platform you can enjoy the following advantages:
- Experience leverage: Make much more effective investments with leverage up to 200:1 on our state-of-the-art trading platform.
- No fees or commissions: Trade CFDs online with advantages of “no commissions and hidden fees” plan that we guaranty.
- Fast and secure deposits and withdrawals: enjoy the wide range of safe and secure methods of depositing and withdrawing.
- Fixed tight spreads: We offer fixed competitive spreads between “BUY” and “SELL” cryptocurrencies prices.
- Most tradable digital currencies in the world: Trade with more than 40 most popular cryptocurrencies on the market.
Who can trade Cryptocurrencies?
Cryptocurrencies trading is available to everyone. Legalization of cryptocurrencies trading becomes a thing not only in major economies but in developing countries as well, so it became a common form of investment that attracts more people daily. What makes digital currencies even more interesting is that they are available to the general public. As cryptocurrencies are the instrument that anyone can profit with, lots of investors turn their focus to them. IQProFX provides traders with an easy, fast, secure and comfortable way to start trading digital currencies on its advanced trading platform, even without any background or skills.