Cryptocurrency trading with IQ Option Philippines
- What Is Crypto Trading?
- How Crypto Trading Works?
- Which Crypto Trading Platform to Choose?
- Where to Start Crypto Trading?
1. What Is Crypto Trading?
A cryptocurrency is a digital asset created to be used as a means of exchange that uses blockchain-based cryptography to secure transactions, control emissions and confirm the transfer of funds. In other words, cryptocurrency is decentralized digital money. It has become popular among traders and is considered a separate asset category. Its volatility provides traders with ample opportunities for profit.
There are two ways to trade crypto assets. You can buy and sell digital money on exchanges. And you can trade CFDs on a specific cryptocurrency. A CFD is a derivative product and the broker pays the difference in the value of the underlying security between two dates. These are opening and closing dates of the contract. The latter type of trading is more flexible as the trader is not tied to an asset. Besides, CFDs are a regulated financial product.
2. How Crypto Trading Works?
Trading Crypto CFDs allows users to make money without the need for a crypto wallet or cryptocurrency exchange. Instead of buying cryptocurrency, a trader buys a contract. Accordingly, the investor earns the difference between the current and future digital money prices. Besides, CFD traders have access to a multiplier. It works like a loan, allowing traders to borrow money for the duration of one deal. It can be used to control larger positions than the trader can afford, but it also involves higher risk.
IQ Option offers the following cryptocurrencies for trading:
- Tron (TRX)
- Dash (DASH)
- Bitcoin (BTC)
- Ripple (XRP)
- Eos (EOS)
- Bitcoin cash (BCH)
- OmiseGo (OMG)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Ethereum (ETH)
- ZCash (ZEC)
- Qtum (QTUM)
3. Which Crypto Trading Platform to Choose?
When looking for a broker, it is vital to take into account some basic parameters of the platform:
- The licenses of the broker;
- The period it works on the market;
- Check available pairs besides the standard BTC / USD;
- Deposit/withdrawal conditions;
- Minimum investment requirements;
- Spread and leverage availability;
- The amount of instruments and analytics on crypto trading.
Many brokerage companies do not work with crypto, while IQ Option platform offers very attractive possibilities to trade this asset:
- A unique platform Open Trading Network (OTN);
- The minimum investment amount is only 10 $;
- Unlimited profits and fixed losses;
- The minimum deal is $ 1;
- Instant money withdrawals;
- Adjustable leverage;
- The platform won two awards: Best FX Broke Europe 2018 and Best Forex Execution Broker 2017.
4. Where to Start Crypto Trading?
If you made up your mind to test your luck in crypto trading, IQ Option can the best choice for a start. The broker has created the most favorable trading conditions for all players regardless of their experience.
Its trading platform is known for its user-friendly interface and high functionality. Moreover, IQ Option offers its clients a series of video lessons that allow them to understand the essence of the proposed financial instrument and gain knowledge for performing trading operations.
Bitcoin and numerous altcoins attract both investors and crypto traders.
Crypto traders are interested in making enormous amounts of money in a short period of time. Cryptocurrency market has a giant potential but at the same time, the market is extremely dangerous for newcomers. Thus, picking up a respected and convenient platform for trading is among the key tasks required.
IQ Option platform offers marketing services all over the world with evident competitive advantages for clients.
Here are some of the key pros:
- a diverse array of assets for marketing (both traditional, like foreign currencies and stocks, and more innovative ones, like crypto coins);
- a wide functionality (numerous multipliers, auto-close option, different charts and additional instruments);
- personal settings (chart type, candle time period and even personal design);
- complex support (charts, 24/7 help and video tutorials);
- newcomer protection (practice account that helps to avoid risks).
The indicated pros are just a few of the ones that our platform offers.
List of cryptocurrencies for trading in IQ Option
Our company offers 20 different coins for marketing.
Some of them are available with different multipliers. Newcomers are highly recommended to start with minimal indexes (x3, for instance). The following coins that are offered with that multiplier coefficient are:
A token launched in 2016 that has a high level of confidentiality and transaction transparency.
Such cryptocurrency is considered to be one of the most anonymous ones.
A coin launched by the Ripple Company in 2012 that has the potential of being used for
international payments between major players.
A Chinese blockchain-based platform for smart contracts that are analogues to Ethereum.
QTUM is a coin used inside that ecosystem.
Omise Go (OMG)
An ICO project that was launched in 2017. The network provides the ability to make different
types of transactions including money transfers, salary transfers, etc.
Ethereum Classic (ETC)
A blockchain crypto platform for decentralized apps that was separated from ETH in 2015
due to hard forks.
A coin that is considered to be the most prospective cryptocurrency according to Chinese
rankings (the token has been in the 1st position for almost 2 years).
A cryptocurrency that approves transactions in just 1.5 seconds and uses the highest level of
Among the other traded coins, the following ones should also be highlighted: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), TRON (TRX) and more.
Cryptocurrency trading platform IQ Option
Our platform provides functionality for both new entries and experienced market players.
Apart from minimal multipliers like x3 or x5, there are other coefficients offered that can essentially increase your profits. For instance, x100 coefficients are suggested when using Bitcoins. This means that you will multiply your investments 100 times. On the other hand, keep in mind the risks that are connected with leverage trading. Those also increase.
Cryptocurrency trading FAQ
What is cryptocurrency easy explanation?
Digital coins are considered special currencies that are protected by encrypted data methods. Those tokens cannot be counterfeited and therefore digital currencies are regarded as much safer than traditional ones. Cryptocurrencies are not regulated by any governments and are totally decentralized - this is considered as another advantage.
Is cryptocurrency legal?
Digital coins were introduced more than 10 years ago but the question of their legality is still open. Some countries completely adopt new instruments while other political regimes are afraid of crypto assets. Many countries have no particular legislature for cryptocurrencies. For instance, Iceland allows crypto-mining while considering other operations with digital assets as illegal. There exists a list of countries (Bolivia, Nepal, North Korea, etc.) where the use of cryptocurrencies is a reason for arrest.
Is cryptocurrency legal in Philippines?
According to the Filipino legislature, digital currencies are totally legal. For instance, Bitcoin is considered a legal payment method. The country is chosen by different crypto exchanges and the government has announced plans of releasing the national cryptocurrency in the near future. Thus, the country is on the way towards digitalization and cryptocurrency Philippines can be freely used.
How can I benefit from cryptocurrency?
There exist three ways of getting profits from digital assets. The first way lies in investing in crypto with a long-term perspective. The second way relies on mining of different tokens using special equipment, and the last way is trading. Users buy assets at minimal prices and then sell coins when their price increases. The mechanism of getting profits is rather simple.
How do I start cryptocurrency trading?
To start earning money, get an account on our cryptocurrency trading platform. Just sign up and indicating the relevant information to get your demo account with the unlimited ability to practice your strategies without losing money. A demo account provides you with virtual money and the possibility to refill it whenever you wish.
How does cryptocurrency trading work?
There exists two ways of digital assets marketing. The first variant implies trading on exchanges where buyers purchase assets with wallets and sellers offer their assets for users who are able to obtain crypto as property. Special platforms offer cfd contracts for a price difference. Users predict further movement of price and get profits when their predictions correspond to reality.
How do you trade in cryptocurrency?
In our platform, the process of marketing is rather simple and includes the following stages:
· Pick up the asset you want to use for marketing.
· Make a deal indicating the amount of your investment.
· Press ‘Buy’ and follow the charts to see price changes.
How do you buy and trade cryptocurrency?
Crypto financial experts recommend understanding the smallest nuances of the market before entering it. Thus, you need to get special materials, analytical articles and some video tutorials to understand what the basic notions are, how the market functions, etc.
How can I buy cryptocurrency Philippines?
No limitations exist in the Philippines when it comes to purchasing and selling crypto assets. Therefore, our users are free to make deals. Just get your user’s profile and start earning real money. Profits can be withdrawn to your credit cards, e-wallets or through wire transfers.
How can I make money from home?
To earn money from marketing crypto assets, you need the appropriate equipment (PC, laptop or even a mobile phone), an account on our platform and some free time for the market analysis and predictions making. Keep in mind the more professional you are, the more money you are able to earn.
How do you make money with cryptocurrency trading?
Work out your personal strategies that are based on your knowledge and experience. Both more and less risky ones can be practiced. Profitability depends foremost on your professionalism, therefore look at the marketing process as an occupation where you need special education and then experience.
How do you calculate cryptocurrency profit?
Profits from marketing activities can be easily calculated. For instance, you buy Bitcoins by 5000 USD per coin. Then, its price increases and you sell tokens by 7500 USD per coin. Thus, your profit is 2500 USD per coin. Like leverage trading, this result can be multiplied depending on the chosen coefficient.
What is the best cryptocurrency to trade?
When it comes to the most profitable digital currencies, one cannot identify one particular asset. For instance, Bitcoin or Ethereum are the most respected and traded coins with the highest liquidity. In the majority of trading pairs, other tokens are compared to those. On the other hand, all coins in the top-50 ranking list are rather promising from the viewpoint of marketing. The best decision lies in opening different crypto assets.
What is the best cryptocurrency to day trade?
When picking up digital currencies for marketing, users should pay primarily attention to the news related to those assets. Positive news leads to the price increasing and vice versa. Moreover, occasionally a piece of breaking news can affect asset prices in either direction.
Can you buy and sell cryptocurrency the same day?
This market has no closure periods. This means that traders are free to purchase and sell their assets anytime they wish. However, different periods are characterized by different activities. For instance, in Asia, the marketing activity is the highest while in Europe, it is the lowest.
What factors affect cryptocurrency price?
There exist key and secondary factors that determine the prices of Bitcoin and altcoins. The key factor lies in an interrelation between demand and supply while major players’ behavior, news and legislative regulation are among the secondary factors that affect crypto assets prices.
Why does cryptocurrency have value?
Digital currencies have different prices. Some assets cost thousands of US dollars while others are evaluated at a few cents. In fact, the value of tokens is based on numerous principles, including circulating the supply, basic technology, applicability, further perspectives, etc.
Why does cryptocurrency fluctuate?
The high level of volatility is among the basic characteristics of cryptocurrencies. Traditional currencies are backed by gold and controlled by governments, therefore their value is strictly regulated. Digital assets are backed by nothing and totally decentralized, therefore no governments are interested in regulating their prices. On the other hand there exist stable coins backed by flat currencies or pressure metals. Their volatility is minimal.
Can I make money on Bitcoin?
The approximate return on an investment of Bitcoin is 5485%, therefore such a crypto asset is extremely promising. Crypto experts insist on the prediction of 100,000 USD and even more for one Bitcoin in the near future. Thus, the first digital currency is a profitable investing instrument.
Is Bitcoin trading legal?
Legality depends on the particular country. In the Philippines and in the majority of other countries, the first crypto asset can be easily bought and sold on exchanges or special marketing platforms. The only demand is to pay taxes according to the existing legislature.
How do I buy and sell Bitcoins?
Using our platform, you need to select ‘Open new asset’ and then pick up crypto from the suggested array. Bitcoins are offered in two multiplier coefficients – x20 and x100. Depending on your professionalism and experience, pick up the most preferable index.
How do I trade Bitcoin coins in the Philippines?
Bitcoins are traded just like any other digital currencies. Just choose your preferable platform and use its functionality to make money. While making your choice, take into account criteria such as commissions, fees, available assets and other important aspects.
What is a cryptocurrency trading platform?
Such a platform offers functionality for crypto market players who are available to make deals by predicting the increase or decrease of several crypto assets’ prices. Several assets can be traded simultaneously to get maximal profits and minimize risks.
What app can I use to buy cryptocurrency?
Our platform offers apps for PCs and mobile devices. Those apps have a more extended functionality by making the marketing process more effective and profitable. For instance, users are suggested to pick up preferable charts layout and watch video tutorials to get as much information as possible.