Cryptocurrency Trading Secrets Unleashed
May 25, 2023
Individuals and institutions are interested in cryptocurrency and always speculate on their favorite cryptocurrency prices. Sounds familiar? What is your speculation? Will Bitcoin go back up in 2023? You can begin cryptocurrency trading via a CFD (Contract for difference) trading account or buy and sell the coin in the market.
Stay tuned to Aron Groups to get familiar with different types of crypto trading.
Table of Contents
What’s Cryptocurrency Trading?
Long story short, crypto trading refers to the act of selling and buying a cryptocurrency on an exchange. With Aron Groups, you can trade cryptocurrencies by speculating on their price movements via a CFD trading account; we will get to it soon.
As the crypto market is decentralized, no authority controls your trades. Do your research and choose crypto to trade on, place an order, or take a trading position on the price movement direction of a cryptocurrency against fiat currencies or other cryptos. In forex trading, everything depends on your speculation.
CFDs or Exchange
CFDs are leveraged derivatives, i.e., you can begin crypto trading without having crypto at your disposal; you do not need to own crypto to trade via a CFDs account.
CFDs are one of the most popular cryptocurrencies trading types, allowing you to benefit from leverage and take long and short positions. In other words, you can always go long, meaning you can buy a currency if you think it will rise against the quote currency, and you can short or sell crypto if you are speculating otherwise. Leverage is the most interesting aspect of this type of trading; since you need to deposit a small amount of money into your brokerage count, this account is called margin.
In Aron Groups, you will access the most used and liquid trading pairs that normally involve fiat currency like USD or a fiat-backed stablecoin like USDC (USD coin) and USDT (Tether).
On the other hand, when you buy cryptos on an exchange, you buy them, and you need to store them in a safe wallet until you are ready to sell.
Cryptocurrency Trading Popularity
Since the emergence of cryptos in 2009, many have been interested in cryptocurrency trading. The more people gravitate toward cryptos, the more cryptos emerge. Only 66 cryptos existed in 2013, but according to CoinMarketCap, now more than 22904 cryptos exist.
The number of cryptos increases daily, just like the hunger to trade them. Cryptocurrencies, unlike fiat currencies, are created on a peer-to-peer public ledger known as blockchain with no room for authority and great power to change the financial landscape. Besides the crypto underlying technology, blockchain has created a need for a smooth company, and the number of institutions looking for blockchain solutions is rising, as well as the number of traders looking for a new investment opportunity.
Cryptocurrency Trading Benefits
With Aron Groups, you have access to real-time pricing, calculating continuously. As the price is based on the real market, you can monitor market sentiment in real-time.
We provide you with a CFDs account, so you do not have to buy anything; you can profit from your speculation of price movement with a small deposit. We provide you with leverage and margin accounts so you can quickly enter and exit a position. Without a margin account, you cannot open a leveraged trade; the margin is the initial deposit to open a leveraged position.
Our award-winning platform provides you with the best cryptocurrency trading platform, Meta Trader 5, perfectly designed for beginners and experienced traders.
We also provide you with two-factor authentication or 2FA to ensure the safety of your account.
How To Trade Cryptocurrency and Make Profit?
First, you need to set up a CFD account which takes minutes. Do your research and decide whether to go long or short. Now you are ready to trade cryptos using your margin account. Be aware the market can move against your speculations, and set a stop-loss to avoid further losses.
The Spread in Cryptocurrency Trading
If you have followed us long enough, you know that the spread is the difference between the buy and sell price. The buy price is the highest price someone is willing to sell his cryptos, and the sell price is the lowest price someone is willing to pay and buy a crypto.
What Moves the Crypto Market
Just like the fiat currencies, the value of cryptos is determined by supply and demand. The more people accept and buy cryptos, the more expensive and rarer it becomes. Cryptos are less affected by political and economic concerns; instead, the following will have a huge impact on their price:
Supply: the number of coins ever going to exist, the rate at which there are mined, burned, or lost.
Market cap: the total value of all cryptos in existence.
Media: As discussed here, the news is a big market maker no matter what type of asset you are trading; fiat, cryptos, or stocks are all the news’ victims.
Integration: the magnitude to which crypto integrates with e-commerce payment systems and other traditional infrastructure.
Crypto Trading for Everyone
If you are new to the forex market but know the cryptos well enough, we recommend you choose cryptocurrency pairs to get familiar with the forex market. By doing so, your decisions and speculations will be based on knowledge, and we are here to help you place your first Forex order. For those experienced forex traders who need more information about cryptos, it is better to stick with crypto/fiat pairs which involve a cryptocurrency and a fiat currency or a fiat-backed stablecoin.
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