Cryptocurrencies were the greatest discovery of 2017, owing to the spectacular earnings from the investments, with the main digital assets growing 4 times more. Consequently, trading cryptocurrency has earned popularity amongst traders, of which more than 30% do not work with any other assets.
Cryptocurrency is a form of payment carried out online, similar to electronic payment systems such as Webmoney and Yandex-money. This means that you can make payments for purchases or transfers to others in Bitcoins or other cryptocurrency and not in Rubles or Dollars. Currently, there are more than thousands of different cryptocurrencies, as well as specific sites and programs, with which anyone can create their own cryptocurrency within several minutes. However, the seasoned traders advice to first of all concentrate on main cryptocurrencies.
Major Advantages of Cryptocurrencies
- Security. All payments are secure and trustworthy. It is impossible to counterfeit cryptocurrency.
- Transparency. Any system participant can verify all information on a payment, with the exception of personal data sent and received.
- Simplicity and speed. Opening a wallet specifically for working with cryptocurrencies is simpler and faster than a bank account; besides, all payments are also executed faster.
- There is no direct control. No government, or central bank can have influence on the quantity of cryptocurrencies in circulation or on their price. No one can freeze funds in your wallet either.
How Can You Earn From Cryptocurrency?
Today, two ways of earning exist, i.e mining and trading cryptocurrency in the market. Cryptocurrency quotes are constantly changing. Not long ago, a group of American economists published statistics which earned Bitcoin third place among the world’s most volatile financial assets. This means that its price changes by bigger points and faster than other assets. By opening a trading account with AMarkets, you can earn from the changes in price. You can also subscribe to free webinars, where we offer fundamentals of trading cryptocurrency and present detailed analysis of the situation of the cryptocurrency market.
Example of a Bitcoin Trade: Why is it Profitable?
Cryptocurrency market trading can be quite a profitable pursuit. At the beginning of August 2017, Bitcoin reenacted its historical maximum and its cost was estimated at more than 2900 USD. This was an excellent signal for buying this cryptocurrency. An AMarkets trader, having purchased 3 Bitcoins, now boasts of 10 000 USD in the account. The trade was closed by the end of the month already, when Bitcoin stood at 4700. Profits were at 5400 or 54% of the deposit in a few weeks. Given the high volatility of this asset, trading cryptocurrency will continue to present such investment opportunities.
Major Advantages of Trading Cryptocurrency with AMarkets
- There are 8 main cryptocurrencies for trading with high capitalization, namely Bitcoin, Ethereum, Ethereum Classic, Litecoin, Ripple, Monero, Zcash, and Dashcoin.
- There fractional lots, for instance, you can buy, not 1 Bitcoin, but 0.1. This means that you can start trading with a deposit of $100.
- There are regular webinars and trading chats from seasoned cryptocurrency traders, which afford clients to constantly receive informational support.
- Favorable trading conditions, for example, BTCUSD spreads are only 10 USD, while at other brokers they’re usually not less than 40.
- Trades can be opened in the trading terminal, MetaTrader 4, the most popular platform in the world, which has a few dozens of effective instruments for market analysis.
- Bitcoin account. If you have Bitcoins in your wallet, then you can transfer them directly to the trading account without commission or conversion.
How do You Start Trading Cryptocurrency?
It begins with a few simple steps.
- Open a trading account at amarkets.com.
- Download the MetaTrader 4 trading platform.
- Deposit funds to trading account to carry out trades.
If desired, you can also undergo free education in trading cryptocurrency, in order to be well oriented in the “digital gold”. During the short seminars, you will learn about the differences between the cryptocurrencies, and what market events provoke the growth or decline in their prices.