Cryptocurrency trading with IQ Option
The IQ Option platform turns out to be a perfect decision for both the beginner and experienced crypto traders. More than 20 different coins are offered. Multiplier indexes vary from 3 to 100 that empower traders to obtain maximal profits. A special crypto chat exists for seeking advice and sharing experiences with other market participants. A training account is a perfect decision to encounter the crypto market. Traders get 10 000 virtual USD for free and unlimited ability to refill their training accounts.
Cryptocurrencies available on IQ Option
Speaking about the array of coins offered by our platform, all coins from the top 12 are suggested for trading(except Tether, that is regarded as a stable coin and is backed by US dollar). 8 more tokens are offered from the top 30 and 2 more – from the top 50 according to the market capitalization.
To make a conclusion, IQ Option offers 21 digital coins from top 50 for trading, therefore, market participants get a wide field for trade and profits.
Referring to maximal multiplier indexes, the following digital coins are offered with multiplier of x50 and x100:
- Binance Coin (BNB):
The coin was launched by the well-known crypto exchange Binance in 2017. The purpose lay in attracting investments for the exchange development. The total number of released tokens is 200 million. The initial price of one token was $0.11, while in 2019, it had increased to 37 USD per token.
- Bitcoin SV (BSV):
Bitcoin Satoshi Vision appeared at the end of 2018 due to Bitcoin Cash hard fork. BSV founder Craig Wright proclaimed himself the legendary Satoshi Nakamoto but had presented no proofs. The coin occupies the 9th place according to the market capitalization volume.
- Ethereum (ETH):
Ethereum was launched in 2013 as a blockchain-based decentralized platform for online services. ETH cryptocurrency is used inside this ecosystem. Ethereum is the second-largest crypto according to the market capitalization volume. The maximal price of the digital token was over 1 400 USD in 2017.
- TRON (TRX):
TRON was launched in 2017 as a decentralized financial ecosystem for entertaining services and media content. TRX token is used inside the ecosystem is being included in top 10 altcoins, according to the market capitalization.
- Bitcoin (BTC):
The first, most expensive and most respectable cryptocurrency launched in 2009 by mysterious Satoshi Nakamoto. Since then, such crypto has undergone two hard forks. This system is totally decentralized, is spreading more and more all over the world, and performing the function of a payment instrument. IQ Option offers x10 and x100 multipliers for Bitcoin trading.
How to trade crypto on IQ Option?
Cryptocurrency trading on IQ Option is available in both training and real regimes that is especially convenient for beginners. Foremost, you need to pick up ‘Open new asset’ in the top left corner by clicking on ‘+’. Several categories are offered for a trader. You need to select ‘Crypto’ and then decide which asset and multiplier are the most suitable ones. To trade cryptocurrencies, you need to buy assets indicating the amount of your investment. The minimal deal amount is $1. Pick up your investment amount in the left menu. Clicking ‘Buy’, you confirm the deal that appears in your total portfolio instantly.
Cryptocurrency trading FAQ
What is crypto money?
Crypto money is an encrypted decentralized digital asset performing the role of fiat currencies in exchange operations. Digital tokens exist in electronic form only as data storage. Using cryptocurrencies, the time of a transaction is shortened essentially. Moreover, minimal fees are charged.
What is the point of cryptocurrency?
Cryptocurrency is launched and functions on the basis of blockchain technology using cryptographic methods. Coins are released in electronic form based on mathematics calculations. Thus, a digital currency can also be called an alternative payment system that is equal to real money and has a particular rate.
Why cryptocurrency was created?
The majority of people are convinced that digital tokens are analogous to fiat money, but that is not true. Referring to Bitcoin, the first cryptocurrency, the main purpose lied in creating an alternative payment system, decentralized and anonymous. Therefore, Bitcoin performs the function of currency inside the system. Moreover, when such a system was invented, developers had oriented more to gold than to existing fiat currencies. The number of Bitcoin tokens is limited like the amount of gold in the world.
What is crypto trade?
Cryptocurrency trading is the process of exchanging digital tokens to other coins or fiat money. In most cases, the main purpose is getting profits, but crypto can be traded for investments as well. Making parallels with the Forex market, the differences are almost invisible while the trading principles are the same ones.
How does cryptocurrency trade work?
Cryptocurrency trading is regarded among the most widespread ways of getting profits from digital assets. This type of trading includes stocks, fiat currencies, etc. trading. The main task lies in buying assets at minimal prices and then selling at maximal prices. The difference becomes a trader’s profit. On the other hand, cryptocurrency trading is marked by high indexes of rates volatility. The process works on either exchanges or trading platforms.
How do I start trading cryptocurrency?
To trade crypto, you need to invest some money foremost. The following actions are demanded: · to open an account on an exchange or a trading platform; · to refill your account by a certain amount of money; · to pick up digital tokens you are interested in the most and buy them ; · to sell cryptocurrencies when their price is most profitable from your viewpoint. Successful and profitable crypto trading demands the following actions: · to analyze a particular cryptocurrency and its trade volumes; · to follow charts where rate changes are indicated; · to analyze the trading history and make appropriate conclusions.
How do you buy and sell cryptocurrency?
Cryptocurrencies can be bought and sold in several ways. Everything depends on the purpose of digital assets storing. Investors should better select crypto exchanges where they are able to buy cryptocurrency for long-term investments. Traders are recommended preferring a brokerage account on a trading platform for buying and selling cryptocurrencies when the price is understood as the best one.
Can you buy and sell cryptocurrency the same day?
Comparing the Forex and cryptocurrency markets, you would better understand there have much in common, while the main difference lies in the absence of opening and closing times for the digital assets market. That means you can buy and sell Bitcoin and other digital currencies the same day or even the same hour depending on the changes in rate. No limitations do exist concerning the market. On the other hand, you would better take into account that there exist hours when you can buy crypto at the most favorable prices.
Can you buy crypto with credit card?
The available ways of purchasing crypto depend on the platform you have an account on. For instance, some crypto exchanges accept fiat money, therefore, you are able to refill an account by a credit card while others do not deal with credit cards, therefore, users are obliged to purchase cryptocurrency by other digital tokens. Referring to trading platforms, an IQ Option account can be easily refilled by a credit card, e-wallet or wire transfer. Our platform, for instance, accepts credit card of the most popular payment systems.
How does cryptocurrency trading make money?
Obtaining profits from crypto trading is based on rates difference. For instance, on June 22 Bitcoin rate was $10 900 per one coin, while on June 26 the price had increased to $12 500. Thus, traders got an opportunity to earn almost $2 000 per Bitcoin. Cryptocurrency is expected to be sold when the price increases and vice versa. Both exchanges and trading platforms can be used for obtaining profits.
How do you calculate crypto profit?
Calculating the profits obtained from crypto trading is a rather simple task. Keep in mind the initial price of a coin. For instance, you’ve purchased 3 ETH coins for $136 and therefore paid 408 USD. Those coins are expected to be sold at the rate of $184 per coin that’ll bring you 552 USD. Thus, you have $146 of profit roughly. To calculate net profits, keep reserve for fees of a crypto exchange or a trading platform charges and taxes.
Can you make a living day trading cryptocurrency?
The question is rather controversial. To trade cryptocurrency is regarded as a promising and perspective instrument of profits obtaining, but on the other hand, you need to have experience and deep comprehension of the market. Such industry is rather risky, therefore, starting with an IQ Option training account turns out to be a perfect decision. If you have no comprehension, loses will be inevitable. On the other hand, trading efficiency depends on multiple factors, therefore, to make a living trading cryptocurrencies is possible for experienced market participants. Beginners are recommended to get one more source for making a living if day trading tends to be unprofitable.
Can cryptocurrency make you rich?
Different experts have different opinions about the market of cryptocurrencies. Analyzing predictions made by them can be found both negative and positive, but nevertheless, the market attracts the attention of the institutional investors. Therefore, in the nearest future, referring to top-10 digital tokens, their rates are expected to increase significantly. That is why to trade cryptocurrency will be profitable as well.
Can I become a millionaire from cryptocurrency?
Digital currencies are still regarded as the perspective investment instrument. In 2017, many people became cryptocurrency millionaires investing several thousands of dollars. At present, there are two ways of obtaining enormous profits from digital tokens. The first one lies in investing funds in powerful and well-known cryptocurrencies like BTC, ETH, XRP, and other ones. Profits are expected to be obtained after several years. The other way is picking up a cryptocurrency whose price is expected to increase several times soon. Selecting the second way, you have to make deep analysis of a particular token and the market in general. But nevertheless people would be millionaires if wealth is not the main purpose. First and foremost, you should comprehend the market, analyze news and make predictions towards particular tokens. You can become a professional in the industry and that is a road to success.
What hours do cryptocurrency trade?
Despite the absence of opening and closing times, the market volatility is different during a day. Therefore, users can trade any time they want but are recommended to apply various strategies depending on the hours they enter the market. The main activity of the cryptocurrency market is connected with traders from the Asian region (from 00:00 a.m. till 08-09:00 a.m.). Such hours are the best for testing new strategies. The US region occupies the 2nd place according to the crypto market activity (from 00:00 p.m. till 10:00 p.m.). This time is the best for applying short-term strategies. The European region is marked by the lowest activity (from 07-08:00 a.m. till 00:00 p.m.).
What time do crypto markets close?
One can trade crypto 24 hours per day and 7 days per week. That means cryptocurrency markets never close, but on the other hand, there may be different periods of activity depending on a particular region. Moreover, activity depends on the news concerning this industry. The period from 00:00 a.m. till 08:00 a.m. is the most active one, therefore, such hours are the most favorable for trading.
Does the crypto market ever close?
The market of digital currencies is fully-decentralized, therefore, it cannot be closed in traditional understanding like foreign exchange or stock ones. There just exist different periods of traders’ activity. Those periods depend on which region dominates the market at a particular time. Traders have different strategies that are suitable for short or long terms. Depending on the period, various strategies are recommended to be selected. Despite the absence of closing, the activity of the market may depend on a particular exchange that is chosen for trading.
Can you trade crypto on weekends?
Definitely yes! Moreover, weekend trading may bring more profits if you react to some important news. This market reacts instantly to any crypto news, therefore, some significant events can lead to essential increase or decrease in prices. Weekends are also suitable for testing new trading strategies.
Do cryptocurrencies trade 24/7?
24/7 trading of cryptocurrencies helps to get more profits. That’s simple – the more you trade the more you get. On the other hand, the market activity is divided into three regions: Asian, US and European ones. Thus, trading demands a particular strategy selection depending on which region is the most active.
What time of day is the best to buy cryptocurrency?
To buy cryptocurrency is better when its price is the lowest, therefore, professional traders pay more attention to the news that appears during a day. On the other hand, the lowest price is observed when market activity is the lowest as well. Such a period is connected with the European region. Thus, the right time of day for purchasing digital tokens is between 07:00 a.m. and 00:00 p.m. Speaking about buying cryptocurrency for investment bear market trends should be selected when the prices are in descending position.
What are crypto trading pairs?
A crypto trading pair is trading between one type of digital currency and another one. In other words, that is an exchange between two types of cryptocurrencies. For instance, a trading pair BTC/ETH shows how much ETH coins can be purchased by one Bitcoin. Referring to less popular digital tokens, their rates are often showed in relation to some basic cryptocurrencies. For instance, NEO/BTC and NEO/ETC or OMG/BTC and OMG/ETC. To trade Bitcoin pairs with fiat money (BTC/USD, BTC/EUR, etc.) are frequently taken into account to understand what is the direction of the first cryptocurrency price movement?
How do crypto trading pairs work?
Cryptocurrency trading pairs work for speculating mostly. For instance, referring to BTC/ETH pair, a trader understands how much Ethereum coins can be bought for one Bitcoin. Making investments, a trader observes the rate changes and when conditions are favorable the first cryptocurrency is exchanged back.
What determines crypto price?
Generally speaking, the price of cryptocurrencies is determined on the basis of demand and supply. On the other hand, there exist numerous other factors that affect digital tokens’ cost. The more major players are interested in such instruments, the higher price is expected to become. Furthermore, news concerning the government's attitude to the crypto industry affects the price. Thus, cryptocurrency trading demands to be always aware of the latest crypto news.
How are crypto pips calculated?
Referring to the exchange market, all rate changes are calculated in pips that is the short form of ‘percentage’ and ‘point’. Such an index helps to fix the minimal changes in crypto pairs’ rates. One pip is equal to 0.0001 of a pair’s exchange rate change. For instance, ETH/BTC rate is 0.0221. Changing this rate to 0.0223 will mean that ETH/BTC increases by 2 pips.
What is leverage in crypto?
Leverage is borrowed funds, in a simple phrase. Most exchanges and trading platforms offer leverage for market participants to empower them in getting more profits. In other words, platforms add their own funds to assets invested by traders. Thus, a user increases his deal volume and expects more profits.
What is leverage in crypto trading?
Speaking about crypto market, leverage offers to spend more funds for purchasing coins. Thus the expected profit is increased multiple times. On the other hand, leverage makes trading riskier, therefore, such a regime is recommended for experienced traders only who have particular strategies and in-depth comprehension of the market in general. Moreover, platforms frequently offer different leverage indexes for users.
What is margin trading in crypto?
In general, margin trading means using borrowed funds while making a deal. Referring to Forex market, users are obliged to use leverage because minimal market entry threshold often equals $10 000 or even more. To trade cryptocurrency, market participants have no such necessity. Thus, margin trading is selected for profit-increasing only. Traders decide either using their own funds or borrowed assets as well.
How does leverage work in crypto?
To explain how leverage works for the crypto market, we need to cite an example. For instance, you aim to purchase Ethereum coins. The price of one coin is $180. You plan to invest just 300 USD. Picking up the leverage level x5 your investment increases 5 times. That means you purchase Ethereum coins for $1 500 (8.33 tokens). Imagine that one ETH price increased to 200 USD. You get 1 650 US dollars. Thus, net profit becomes 150 USD instead of $30. On the other hand, risks are rather high as well because borrowed funds are expected to be returned. Thus, unprofitable trading may lead to debt.
How does margin trading work in crypto?
Traders decide by themselves which multiplier is more suitable for margin trading. For instance, our trade platform offers different multiplier indexes for the same digital tokens. EOS can be purchased by multiplier x3 or x20, while for Bitcoin the maximal multiplier is x100. That means investing 150 USD, you can purchase Bitcoin for $15 000. To trade margin you are expected to have enough experience. Keep that in mind to avoid losses!
Is cryptocurrency legal?
The attitude towards digital tokens depends on a particular country. For instance, cryptocurrency in New Zealand and 98 more countries are absolutely legal. Some governments are neutral, hesitating which position is better. At present, there are 10 countries where Bitcoin and other digital tokens are illegal. The list includes Bangladesh, Bolivia, Ecuador, Nepal, Morocco, Iraq and other jurisdictions.
Is cryptocurrency legal in New Zealand?
Cryptocurrency in New Zealand can be used as a payment instrument. Moreover, the country became the first where salary can be paid in digital currencies. New Zealand picked up the way towards innovations together with Australia, where the government is extremely favorable towards cryptocurrencies as well.