Bitcoin is currently the world’s most common cryptocurrency. The digital money is cryptocurrencies. Their main benefit is a central authority does not govern them. Bitcoin is very rare and precious. 1 BTC worth more than $19,000 was at its height. Today, however, it is worth about 10,000 dollars.
Bitcoin is one of Bitcoin ‘s most exceptional properties. IQ Option allows traders, among other cryptocurrencies, to invest in Bitcoin. You can learn how to exchange the BTC in this document. However, the stated concepts can also be extended to other network cryptocurrencies. Now you can learn about trading on bitcoin binary options.
Bitcoin of IQ option
You must first set up an account to trade Bitcoin with IQ Option. This can be a prototype or a true statement for all forms of reports and various other cryptocurrencies the broker offers on the platform.
Trade Bitcoin on the platform of IQ option
You can purchase Bitcoin mostly as CFD products from IQ Option. Here is a guide for the following:
- Select Crypto Trade (CFD) from the menu page and choose Bitcoin as the currency you want.
- Make the decisions you want Bitcoin to spend.
- Choose to go up or down the Bitcoin price.
You can track the business in the “open positions” tab once you have built your company. Bitcoin is a digital IQ Option cryptocurrency. But there are still great opportunities for other currencies.
IQ options offered cryptocurrencies
At present, there is a maximum of 20 cryptocurrencies and coins available for the IQ Option. Those involve cryptocurrencies leveraged. BTCx100, for example, only means Bitcoin with a 100 times heavy duty. Leveraged cryptocurrencies give a chance for the earnings to increase. They also, however, raise the danger of enormous trade losses.
You have to understand the terms
Spread: this would be the variation between the IQ option request price and the bid price. This is similar to forex spreads.
Multiplier: This is a tool for a particular cryptocurrency. For instance, BTCx100 has a 100 times leverage. This means you can manage Bitcoins by 100 times the amount of your trade investment. In other words, if you spend 100 dollars in a company of BTCx100, it’s the same as you ‘re spending 10,000 dollars in a healthy business.
Change: This is only an indication that the cryptocurrency value has increased or fallen over the previous day. You should have an idea of whether you should enter a place to buy or sell.
Will Bitcoin invest in a secure asset?
To traders in the short term – no. Bitcoin and other cryptocurrencies were extremely volatile in their early years. Within a matter of days, the Bitcoin value will double or triple. Still, while there are times of high uncertainty, its value remains constant.
Bitcoin makes a good investment asset for long-standing traders who want to stay in position over several hours or even days. Bitcoin does not encounter major price changes. But once a trend has been made, you will benefit for a short space of time by hundreds or thousands of dollars.
Therefore, it is important to concentrate on lengthy-term trading when investing Bitcoin and every other cryptocurrency on an IQ option. Remember that an overnight funding fee is paid by IQ Option. If your investing place is open overnight, this is a small fee you owe on your account.
IQ Option Trading Bitcoin
Bitcoin can be easily exchanged with protection and resistance. BTC rates, as previously stated, remain typically within the framework of a trend. It can stay for hours or even days within this range.
The positive thing about Bitcoin would be that the trend is generally high when support or resistance rates are broken. Transform into a chart of candles for 15 minutes. It will allow the detection of prices when support or resistance is broken.
Using the diagram below, you will note that the price begins to break out of the resistance, which indicates the upward trend. You will wait until after the candles over the resistance close. Then enter 1 to 3 hours of placement.
You can still see from the figure below that the price of Bitcoin rises over 3 hours from around 3350 up to 3500. It is a benefit of about $150. Even new traders will benefit from Bitcoin and some other cryptocurrencies.
In reality, unlike the Bitcoin buying stocks, you control the property. It takes sometime before a distinct pattern emerges that is the only downside to trading Bitcoin. Only go to your practice account and try this cryptograph, now that you have mastered the basics of accounting purposes in IQ Choice.
Perhaps the most obvious choice is to purchase crypto-monetary goods. The strategy throughout this case is so simple: buy Bitcoin and hold a duration that is sufficiently long for the dissemination and gains. This system is equivalent to Forex and online trading of crypto-currency. Unless the trader assumes that the BTC price rises over time, the trader must purchase the cryptocurrency and sell it short when the asset’s price is to deteriorate. The profit refers to the difference between the prices that open and conclude. The more the Bitcoin cost is changed, the more profitable it is. Some analysts assume that the buying of cryptocurrency is better for long-term transactions due to higher spreads.