Cryptocurrency trading platform - Ethereum, Tron, Bitcoin Trade
What is cryptocurrency?
Cryptocurrencies are virtual payment systems with their own monetary units, all transactions in which are protected by cryptography (encryption). As a rule, the systems are decentralized and do not have a single regulator or processing center. The term "cryptocurrency" was coined in April 2011 after Forbes published the first popular system of its kind, Bitcoin (bit, from "bit" and "coin").
Cryptocurrencies have no physical form and are stored in "electronic wallets. As a rule, data about users' accounts and Bitcoin exchanges between them are stored in the system in an encrypted form using distributed blockchain database technology. The system is maintained by users and volunteers who run its application on their computers.
Most cryptocurrencies, including Bitcoin, operate without a regulator. Usually, the only source of issuing virtual currency is "mining" by the users who run the application: they are paid a small amount of virtual money for using the resources (computing power) of their computers.
In January 2009, the first version of the Bitcoin payment system software appeared on the Internet. Its author (possibly a group of authors) signed his pseudonym Satoshi Nakamoto.
Initially, the currency was only used by computer enthusiasts. On May 22, 2010, Laszlo Hanich, a programmer from Florida (USA), for the first time documented the use of Bitcoins for the real purchase, transferring 10 thousand units of "cryptocurrency" to the user under the pseudonym of Jerocs and receiving from him two pizzas. In 2010-2011, the first exchanges appeared on the Internet, where Bitcoins could be exchanged for real currency. In the spring of 2011, Bitcoin reached parity with the U.S. dollar. At that time, Bitcoin analogues began to appear, which were different from Bitcoin in encryption and other features. Among them are Litecoin, Etherium ("ether"), Ripple, and Dogecoin. In 2017, Bitcoin "split" into regular Bitcoin and, according to developers, the more secure Bitcoin cash.
Since about 2011, Bitcoin, due to the anonymity of the transfers, has been used by people involved in drug trafficking and other illegal businesses. Since 2013, Bitcoins can be used to pay for services and goods in some online stores and hotel booking services. However, already in 2017, services or manufacturers that previously accepted this currency for payment began to abandon it due to sharp fluctuations in its value.
How do people make digital money?
So, how can you obtain cryptocurrency? There are a few options.
- The most common method is to mine, which entails being compensated for grouping transactions into blocks and calculating the correct key to seal the block. You can accomplish it with your own equipment or with someone else's that is available for rent and may even be on another continent. Cloud mining is the name for this form of mining. It is possible to mine the majority of existing currencies.
- Another alternative is to purchase the desired cryptocurrency in an exchanger, which arrived on the network in sufficient quantities but at a disadvantageous rate (typically +7-10% of the official), or on an exchange.
However, depositing funds on a cryptocurrency trading platform is not simple; you must first go through a verification process, which requires you to transmit your passport, residence permission, and other personal information.
- There is another way to obtain coins that does not require any materials but takes a long time. This is a search for several "cranes," sometimes known as airdrops, which are free mailings of various cryptocurrencies. There are numerous possibilities available, ranging from playing video games to operating social networking projects in the selected language. A hardfork, which splits the original chain of currencies into two new ones, can also result in free coins.
What is digital money trading?
The first is trading, specifically trading in cryptocurrencies. You can use technical analysis of growth charts (which isn't always helpful) or insider information about this or that project to advise you. Important news has a tendency to influence the rate of digital money. Another method is holding, sometimes known as "holding" or "hodl." It's as simple as buying coins and then forgetting about them for a long time.
The ranking of the popularity of cryptocurrencies is undoubtedly headed by Bitcoin. It has the greatest capitalization, fame and popularity. However, the various top lists of digital currencies today include several dozen names of monetary units, some of which appeared quite recently, while others were created not much later than Bitcoin. Each of the cryptocurrencies described below has its own distinctive characteristics, but there is one thing that they all have in common: ever-growing interest and demand, which, in turn, causes the price of most types of virtual money to rise.
The most popular cryptocurrency was created in the end of 2008 - beginning of 2009. Currently, Bitcoin's capitalization has exceeded $140 billion, which is much higher than the other types of virtual money. The price of Bitcoin reached, which was another achievement of the digital currency. Naturally, Bitcoin is the main object of interest from potential investors and the subject of trading at various cryptocurrency exchanges.
At the same time, it is important to understand that financial analysts are far from unanimous about the forecasts and prospects for further growth of Bitcoin. Some experts predict the continued impressive dynamics of this type of cryptocurrency. However, some experts predict the complete opposite of this development, predicting a Bitcoin decline soon.
The second most popular and capitalized cryptocurrency in the world. The Ethereum payment system was launched in mid-2015. In just over two years, the cryptocurrency has steadily risen to second place, competing in some segments with Bitcoin, which seemed unattainable recently. Some experts consider ether to be the most promising type of virtual money.
Litecoin is a derivative (cryptocurrency experts use the term fork) of Bitcoin. The most popular digital currency is often referred to as virtual gold, and litecoin is similarly referred to as virtual silver. It appeared in 2011, quickly gaining popularity and capitalization. However, today LightCoin ranks only 6th in terms of trading turnover, which does not prevent experts from referring to it as one of the most promising cryptocurrencies.
Buying and trading cryptocurrency on IQ Option: the advantage
IQ Option is the world's best online trading platform. Founded in 2013, it is currently the most prestigious broker. Which is active in Forex, stocks, cryptocurrencies and digital options.
IQ Option starts with an options trading platform (BO). Trading options can be understood simply as you have 2 choices within a predetermined time frame: increasing or decreasing. If you make the right choice, you make money. If you make the wrong choice, you lose money.
Nowadays, after a long development, IQ Option has not only provided a platform for trading options, but has also become a broker. They allow their clients to trade Forex, stocks, cryptocurrencies, commodities, etc.
How to trade cryptocurrency?
In order to open an account and start trading, a user needs to register. If you are only going to get acquainted with the company's services and try to trade on a demo account, then it is enough to indicate your name, last name and e-mail. It is noteworthy that the broker does not require you to confirm anything.
However, to trade in real currency and withdraw profit, the client needs to confirm the personal information about himself. That's why we strongly recommend you to enter true information, otherwise you might have problems with withdrawal.
When planning to deposit an amount greater than $1000, it is necessary to confirm your identity and obtain the official status of a client of the company. When depositing smaller amounts, verification is permitted before withdrawing money from the account. There are several ways of making a deposit: bank transfer, electronic wallets transfer and credit card deposit. When depositing, the trader can choose the method of payment. When withdrawing money, one should use the same method that was used to deposit money to the trading account. The money is deposited to the account almost immediately. Their withdrawal may take several days, which is explained by the need to process the application and verification of the client. Information about the amount of commission is displayed on the company's website.
IQ Option trading conditions
Clients of the broker are offered the following trading conditions:
- up to 90% profitability from one trade;
- minimum deposit - 10$;
- minimum bet - $1;
- assets - currency pairs, stocks and indexes.
It is possible to open a demo account with the broker. It will allow to get used to the binary options market and get the first trading experience without financial risks. Each registered user gets $10000 to trade, but he cannot withdraw these funds.
Among the advantages of the trading platform IQ Option traders noted in their reviews:
- availability - a low deposit to start working - only 10 dollars;
- the minimum expiration period - one minute, the maximum - a month;
- in the transaction can be used up to 92% of the deposit amount;
- wide set of indicators and other trading tools;
- no slippage;
- possibility of hedging - conclusion of two transactions, going "on each other", to minimize the risk;
- convenience of setting stop-losses and take-profits - pending orders;
- bonus accruals to the account;
- tournaments with prizes.
We recommend buying and trading cryptocurrency on IQ option as cooperation with global brands indicates a good financial position, so the reputation of the broker remains positive.