Attributed to IQ Option
The Golden Age of сrypto may be over — but it doesn't mean it's all over. The crypto market is no longer bringing super-profits to coin holders, but the crypto rush of the 2010s is metamorphosing into something new. While investors of the 2010s would buy cryptocurrencies, investors of the 2020s trade them — because this way you can profit even if the asset price goes down.
Since the beginning of 2022, the cryptocurrency market has come under significant pressure. The fintech segment and digital assets sank sharply: from $2.388 billion in capitalization in January 2022 to $860 billion at the beginning of December 2022. This situation stresses traditional investors out. However, this drawdown brings an excellent opportunity for those who want to invest in digital assets without actually buying and owning them. Enter crypto trading.
IQ Option has focused on crypto trading from the very beginning. Rather than offering to sell and buy, this international broker offers services which are well-suited for traders with any level of experience. Thanks to an intuitive Traderoom design and affordable conditions, IQ Option platform provides a user-friendly experience for opening trades, using technical indicators for crypto assets, withdrawing profit, etc.
Like most online trading platforms, IQ Option has two default account types: Practice (Demo) and Real Standard, both available upon registration. For those who have never traded crypto CFDs before, it is a good idea to practice on the Demo account. It has replenishable $10,000 and no expiration date, which means users are free to practice for as long as they want until they are ready for the real market.
And once you feel confident, then a money deposit can be made — IQ Option accepts deposits via popular Thai banks (such as CIMB, TMB, Bangkok Bank, Krung Thai Bank, etc.) and international payment systems like Visa/Mastercard, Skrill, Neteller, AdvCash, PerfectMoney, etc. With the minimum deposit of $10 or 350 THB, the platform is truly accessible for everyone. The process is simple and intuitive, with no need to to verify the account to deposit money. However, verification is required to withdraw the profit.
At IQ Option, cryptocurrencies are traded on margin. It means that users can trade with higher amounts than they actually have by borrowing it from the broker — similarly to getting a loan from the bank. Before moving on, it makes sense to clarify some key concepts related to crypto trading on margin, which means trading with leverage, i.e., borrowed funds.Trading with leverage increases both profit potential and risks. Margin is the amount of money that will be frozen on the balance in order to secure the deal. The minimum margin requirement is 0.2%. If the user closes the deal in the money, this amount will be returned to the balance. Otherwise, this money will be used to back up the loss. Deals are calculated in lots instead of the habitual monetary terms: 1 lot =100,000 units of base cryptocurrency. Another important is point, or pip. One pip represents the fourth digit after coma in the asset price and shows the cost of the smallest change in the price.
The trading platform facilitates trading the world’s favorite cryptocurrencies. After you select the asset and specifying trade size, the margin and pip value for the chosen currency will be calculated automatically — however, the exchange rate for the crypto asset will be displayed before the transaction and fixed for 30 minutes. The broker holds a small spread to cover this risk, so the asset’s exchange rate at IQ Option might be slightly lower.
One of the key concerns of any trader is risk-management. Cryptos are considered the most volatile assets, which makes risk management an absolute must. Two basic tools help to automatise this process: Stop-Loss is an order type that auto-closes the deal if the loss exceeds a pre-set level; and Take-Profit will close the deal once it reaches a desired profit amount. The levels depend on the chosen trading strategy, but the recommended minimum Stop-Loss should be 10% of the in to set up TP and SL either in pips or in monetary representation.
100% of successful crypto traders use technical indicators to improve their forecasts. The IQ Option platform has 100+ indicators, and users can apply them right on the chart and see them along with the price movement. Top 5 technical indicators for crypto trading:
Finally, when all the presets are made, you can enter your position by clicking the green Buy button (if you believe the price will go up) or the red Sell button (if you think the price will go down). After that, all that’s left to do is watch the price movement and wait to close the deal — either manually or automatically. And if your predictions were successful, all which is left to do is to withdraw the profit.
As mentioned earlier, withdrawals require account verification. It comprises of 3 steps: identity verification (passport/ID), address verification (utility bill from your address with your name on it), and payment method verification (bank card). Once your account is fully verified, you can create a withdrawal request on the platform. Each trader is in for 1 free withdrawal per month.
Given the current state of the crypto market, trading appears to be potentially more profitable than traditional buying/selling crypto assets. IQ Option provides a sufficient crypto asset set to trade along with a user-friendly trading environment. You can train on a free demo account with 10,000 virtual dollars. The minimum deposit on a real balance is only 350 THB. The broker works with popular Thai banks, so deposits and withdrawals are carried out almost instantly.
Importantly, cryptos on the IQ Option platform are traded with margin, which means you can operate larger funds (leverage) yet implies higher risks and an upfront secure payment called margin. To safeguard your deals, the platform has risk management tools and 100+ in-built technical indicators for market analysis and more accurate predictions.
The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.