Cryptocurrencies are a big thing in finance today, as the returns on the investment are sometimes as big as thousands per cent. In a nutshell, cryptocurrencies are decentralized digital currencies acting as a medium of exchange, built with the help of cryptography. The value of each cryptocurrency coin is secured by blockchain – an open database of transaction records, secure by design. Bitcoin (BTC), created in 2009, was the first such currency, after it all others were named altcoins. Other popular currencies for trading include Ether (ETH/ETC), Dash (DASH), Litecoin (LTC), Ripple (XRP) and Monero (XMR). Because cryptocurrencies are highly volatile, trading them presents great investment opportunities that can pay out in anything from a day to a month.
Cryptocurrency trading explained
In the same way as you need a bank account and access to the stock exchange to trade regular currencies, you need a cryptocurrency wallet (a place to store encrypted passwords that represent your coins) and a cryptocurrency exchange to trade cryptos. You can make a profit not only by exchanging one cryptocurrency for another, but also by margin trading, trading futures or mining. However, beware that some altcoins could lose value and modern cryptomarkets are characterized by high volatility. That is why we suggest that you opt for trading with a trusted broker like Double.Trade.
How to trade
To start trading simply create an account with Double.Trade, deposit funds to the account, sign-in to the app and go for it.
When trading commodities you must meet a minimum balance requirement. After you have put in the required amount, you need to think about your investment strategy. Do you want exposure to a variety of commodities to diversify your portfolio? Do you want to make a profit on the performance of a certain commodity? Upon trading, you will choose: the commodity you want to purchase, the month when the contract expires and the number of contracts.
Why to invest to Cryptocurrency ?
Double.Trade makes sure you trade under the most advantageous conditions
The returns on cryptocurrency investments can be a few hundred per cent or more, and often you need as little as $25 to start.
It is impossible to forge cryptocurrencies, and the security of your payments is backed by blockchain technology. Transactions on blockchain are fully transparent – any participant can verify all information on the transaction, except for personal details. No one can freeze assets on your account either.
Bitcoin is not managed by a single authority, but by a global network of computers that maintain the database where blockchain transactions are recorded. This means all trades occur between two users via an automated process, without any third parties involved.
Cryptocurrencies are not regulated by any country, so exchange rates, transaction charges and interest rates do not apply. This means you can use cryptocurrencies as a payment method at an international level and save money which would otherwise be wasted on transferring funds from one country to another.
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