- 1 A brief overview of the cryptocurrency market
- 2 IQ Option crypto trading
- 3 Pros and Cons of IQ Option crypto trading
- 4 IQ Option crypto market: Wrapping it up
- 5 Short Q&A on IQ Option Crypto Trading 🗨️
- 6 GENERAL RISK WARNING
IQ Option crypto trading will be the topic of today’s article. We will be talking in detail about the possibilities of trading cryptocurrencies on IQ Option. First, however, we will remind you what cryptocurrencies are.
A brief overview of the cryptocurrency market
A couple of years ago, not many people knew about the existence of cryptocurrencies. Its rise has been sudden and taken the financial world by storm. Now Cryptocurrency trading occupies a market capitalization worth millions and millions of dollars.
With Bitcoin as the major crypto leader, the rise from 2009, to date keeps rising amid speculations that it will fall. Many people today are trading, mining and transferring crypto with much more ease than they did a couple of years ago.
There are different types of cryptocurrencies in the market today. One most common factor with the majority of them though is that their networks are built from a technology of blockchain.
This technology protects the currencies from being retroactively altered without the network consensus. Another thing majority of them have in common is that anyone can use them globally for payments, mining, speculations, purchases and other kinds of trading transactions.
All crypto are digital and to purchase them, you can use direct flat currencies. While they are versatile and have done a great deal to help people forge their trading aspects forward, not all can trade with IQ options.
IQ Option crypto trading
An IQ option is a platform that offers the widest t range of cryptocurrencies as compared to other platforms like CEX and Coinbox. Some of the biggest names in the crypto world like Bitcoin, Litecoin, Ethereum, Dash, Ripple, and many others are some of those offered on IQ options.
The number of cryptocurrencies on the IQ Option differs occasionally but as time goes by, the platform also sees the addition of more crypto. Besides being the widest platform for cryptocurrencies, IQ Option also offer other assets for trading.
Countries in the East like Lebanon, Saudi Arabia, and the United Arab Emirates use IQ Option as the top-rated broker to speculate on cryptocurrencies.
Being a user-friendly broker, IQ Option makes it easy even for the newest traders to navigate through the platform. Using the platform enables traders to trade crypto CFDs using a MasterCard or visa deposit on day 1 after registering an IQ Option account.
Choosing a cryptocurrency to trade on IQ Option
Once logged into the IQ Option platform, click on the “+” button to select the asset to trade. The category that interests us is of course IQ Option Crypto. From the category, you can already select the specific asset you want to trade. This process is illustrated in the screenshot below.
For people trading for the first time with IQ options, you get to use a Demo account to take you through the trading procedures. The demo account uses a login and has no time limit requirement.
You can also reset your balance as often as required when using the demo account.
To start trading, the required minimum deposit is $10 and you can make a minimum trade of $1. The platform provides signal services and you can use your smartphone to trade on the platform via a mobile trading app.
The IQ platform interface makes trading even more enjoyable than many other platforms do because you can easily follow the charts easily. You can also do all your trading directly from the charts. The platform displays no fewer than 9 charts all displayed at the same time showing different periods.
The platform also shows the actual closing and opening positions of all the trades and offers you an overview of your trading history and open positions. The interface also has a blog and a chat section where you can choose a broker to trade on your behalf if you want to.
How to execute an IQ Option crypto trade
In the chart below we have BTCx100 which is bitcoin with a multiplier of x100. Numbers 1 and 2 are the current buy and sell prices respectively. At these prices, the broker will execute a market order depending on the chosen trade direction. To trigger the trade we still need to enter the Amount (3). The multiplier (4) is fixed for this asset and is x100. Auto Close (5) allows you to set take profit and stop loss levels, but this is not mandatory.
The system will also display Expiration (6), which tells us how long the transaction will be closed. This time is the end of the trading day for cryptocurrencies. Finally, click buy or sell, depending on whether you anticipate price increases or decreases respectively.
Key features of the IQ Option platform
The different charts to choose from are candle charts, bar charts, area charts and line charts, all the charts use patterns that give you a good guideline of the trading positions.
The platform also provides other graphical tools like Trend Lines, Fibonacci Lines, Trend Lines, Simple Lines and Horizontal Lines to help you along as you trade.
If you want to reach the platform support, you can do so through a number of toll-free regional numbers offered. Traders can also email the CAO and CEO directly for any inquiries.
The IQ option headquarters is in Saint Vincent and the Grenadines. Some of the countries where telephone support is available are Australia, India, Brazil, Germany, Spain and Thailand.
Can I deposit bitcoin to IQ Option?
It is possible to deposit funds in Bitcoin. Please note that deposited BTC will be converted into the traditional currency, specifically the currency of your IQ Option account. Depositing in crypto is only available if you have already deposited in other ways at IQ Option.
Can you withdraw Bitcoin from IQ Option?
At the moment it is not possible to withdraw funds from IQ Option in cryptocurrencies. As we mentioned, the deposit in BTC is immediately converted into fiat currency. IQ Option does not operate crypto wallets. Therefore, withdrawals are not possible neither in BTC nor in any other cryptocurrency.
Pros and Cons of IQ Option crypto trading
Pros of Trading Cryptocurrencies with IQ Options
Below are some of the pros of using the IQ option platform for trading cryptocurrencies.
- The platform is very easy to use even for first-time traders
- Gives you the option of using a MasterCard or visa
- You can choose to trade high deposits
- Comes with a demo account
- You can trade it on your smartphone via the mobile trading app
- Can trade a wide range of cryptocurrencies
- It is user-friendly
- Great customer support
- Extensive asset coverage
Cons of Trading Cryptocurrencies with IQ Options
- Strict to certain jurisdictions
- Other Payment methods
Besides Visa and MasterCard, other payment methods you can use to trade on the platform are Neteller, Skrill, and bank wire.
|IQ Option Features
|Decentralized and secure transactions
|Wide range of assets for trading
|Global accessibility and utility
|Various tools and indicators for informed trading
|Volatile market with potential gains
|Demo account for practice and learning
IQ Option crypto market: Wrapping it up
For new time Cryptocurrency traders, the IQ Option is one of the best platforms to start your trading journey. With its easy use and user-friendly interface.
The customer support is great in case you have any questions to ask and for anyone out to trade several instruments on a range of crypto pairs, you have the best platform with IQ Options. If you need a broker, you can also check out the blog and chat section to help you with the trading. Final word is, it is a great platform and you should go for it.
Short Q&A on IQ Option Crypto Trading 🗨️
- Q: Can I trade all types of cryptocurrencies on IQ Option?
- A: IQ Option offers a wide range of cryptocurrencies, but not all types may be available. Check the platform for the latest list of supported assets.
- Q: Are there any fees associated with trading on IQ Option?
- A: Yes, there are fees associated with trading on IQ Option, such as spreads, overnight fees, and withdrawal fees. Be sure to review the fee structure before trading.
- Q: Is it safe to trade cryptocurrencies on IQ Option?
- A: IQ Option has been on the market for many years, which adds a level of safety. However, trading cryptocurrencies is inherently risky, so always perform due diligence and research before trading.
- Q: Can I use the IQ Option mobile app for trading cryptocurrencies?
- A: Yes, the IQ Option mobile app is available for trading cryptocurrencies and other assets on-the-go.
- Q: Do I need any prior experience to start trading on IQ Option?
- A: No, IQ Option offers a demo account for beginners to practice and learn the trading process before starting real trading.
GENERAL RISK WARNING
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