Digital currency trading has, over the years, gained tremendous popularity. A lot of traders have tried their hand in the digital currency market, with some succeeding immensely. For this reason, people are always trying to venture into this trade.
To trade in this market, you need to work with a reliable brokerage firm. A broker provides various instruments of trade that you require as a trader. They also help you store your cryptocurrencies within its network.
If you do your research, you’ll find numerous platforms that offer digital currency trading. A majority of these firms offer Bitcoin trading among other cryptocurrencies. This is because Bitcoin has been the leading digital currency for the past few years. If you are familiar with this trade, you probably have interacted with Bitcoin.
Bitcoin Trading in IQ Option
IQ option is an online brokerage firm that is widely known for cryptocurrency trading. This platform offers various financial instruments, including Bitcoin. It was founded in the year 2013 and is currently based in Cyprus.
Soon after launching its online platform, it added Bitcoin to its offerings. It now offers more than 10 top cryptocurrencies to traders.
IQ option has built quite a reputation in the digital market currency. One of the reasons why many traders are turning to this platform is its compliance with regulators. The Cyprus Securities and Exchange Commission is the regulating authority in this trade. IQ Option is regulated by this body and is, therefore, a secure platform for traders all over the world.
So, how can you trade Bitcoin on IQ option?
IQ option allows you to trade Bitcoin on its online platform. The whole process is simple and as seamless as possible. All the action takes place online. This makes it possible to trade from any part of the world, so long as you have a reliable internet connection.
Download the IQ option app
Depending on the device you intend to use on your Bitcoin trading endeavors, you can start by downloading the IQ option app. Just go to their website, download the app, and sign up. Here is the website; iqoption.com/en/download.
In case you already signed up, proceed to the login portal, and enter your details to log in.
Open an account
If you want to trade Bitcoin on IQ option, you’ll have to first open an account with this company. IQ option has both a real and a demo account. A demo account is a learning tool that you can use to develop your strategy. At IQ Option, the demo account offers $10000 in virtual cash. This is what you use for practice before venturing into the real Bitcoin trading.
Load your account
The next step is to deposit some money into your IQ Option account. You can do this with your credit card, e-wallet or a bank transfer.
There are several ways to trade Bitcoin on IQ option. In this section, we are going to explain them to you.
Buying and selling Bitcoin
Once you identify a trading strategy that works for you, it is time to start trading. The most common way of trading for most traders includes buying the Bitcoin currency and holding on to it. You then patiently wait for its value to rise. If it rises to a point where it can pay off the commission and result in a profit, it’s time to sell.
To buy the assets that you need in the form of a CFD product, go to the crypto menu, and pick Bitcoin. At this juncture, you need to decide how much you want to invest in Bitcoin. The more you invest, the more you are likely to earn a good profit.
CFDs are all about speculation. To earn a profit, you have to analyze and predict the movement of Bitcoin price. Will it rise or fall? Depending on what you predict and the outcome, you’ll either make or lose money.
Monitor your trades on the “open positions” to see how you are performing. This will keep you updated all the time. Besides that, you can learn something in this section through analysis. Such information could be instrumental in making your next move.
This mode of trading Bitcoin on IQ option depends on the volatility of the digital currency. You just need to follow the price movements of the Bitcoin. With this method, you will not need to open an e-wallet to store your Bitcoin tokens.
Why trade Bitcoin on IQ option?
Trading Bitcoin on IQ option has several benefits. Among them is the fact that this company operates within the regulations of the CYSEC. This guarantees your safety from increasing online scammers. You are also protected from malicious practices that unregulated brokers may engage in.
Tools and resources
At IQ Option, there is a wealth of learning resources at your disposal. For example, the demo account can help you understand how trading Bitcoin works on the platform. You are provided with virtual currency for practice, and as soon as you are confident, you can apply that knowledge in actual trading.
The IQ option site and the app are user-friendly. It ensures that you navigate through the platform with the utmost ease. This is extremely important because, in this kind of trade, profits and losses are sometimes made in an instant. With a complex site or application, you stand to lose out on profits or make losses.
The future of Bitcoin
In the past, traders made massive profits from trading Bitcoin on IQ option. This trend is not about to come to an end. Given that Bitcoin is one of the safest cryptocurrencies, the future looks promising.
There are talks within governments concerning regulations of digital currency. If all goes well, Bitcoin and other digital currencies will occupy a significant mainstream space.
IQ option is undoubtedly a leader among the safest digital currency platforms. The initial financial requirement is affordable for any willing trader. In addition to that, the trading process is transparent, quick, and easy to learn. If this is what you’ve been looking for, don’t hesitate to open an account with IQ option and begin trading.