IQ option bitcoin is probably the world’s best-known cryptocurrency. Virtual currency is cryptocurrencies. Its main benefit is that it is not controlled by a central authority. Bitcoin is very rare too, making it pretty precious. 1 BTC was well more than $19,000 at its peak. Today, however, that value fell to some $10,000.
Bitcoin is thus one of several greatest assets in which to invest. IQ option bitcoin gives traders the chance to invest in Bitcoin between a variety of other cryptocurrencies. You can learn how to exchange BTC in this article. However, the addressed principles may still be used in other platform-based cryptocurrencies.
IQ Choice Cryptocurrencies
At present, a total of 20 cryptocurrency and tokens are available from IQ option bitcoin. These include utilized cryptocurrencies. for instance, BTCx100, simply means Bitcoins with a multiplier added 100 times. Use collateralized cryptocurrencies, you will increase your income. Nevertheless, the chance of huge losses and loss of trades is increased.
Start with IQ Option Bitcoin
Tap on the Asset button at the top of your trading application to set up a Bitcoin trading table. Then choose cryptography. Pick Bitcoin.
Conditions you have to learn when dealing with IQ Option Bitcoin cryptocurrencies
- Multiplier: The power of a single cryptocurrency is used. BTCx100, for instance, has 100-fold leverage. It implies you can monitor Bitcoins of 100 times the worth of your trading investment. If you invest $100 in a business of BTcx100 this is the same as the frequent BTC investment of $10000.
- Spread: This is just the difference between the IQ option bitcoin request price and the offer price. This is equivalent to forex premiums.
- Change: This is essentially an indication as to whether the price of the cryptocurrency has risen or decreased in the previous day. You will get an idea of if you can enter a place to buy or sell.
Is IQ option bitcoin stable investment asset?
For traders in the short run no. Bitcoin, as well as other cryptocurrencies, had extreme volatility in their early years. In a couple of days, Bitcoin should double or triple. It is now stable in value despite high volatility times.
IQ option bitcoin makes an excellent commodity to be invested for deep-term traders who want to live for many hours or even days. Looking at the interval chart below for 1 hour, Bitcoin is not experiencing major price changes. Nonetheless, once a pattern has been embraced, hundreds of dollars can be made a profit for a short period.
Furthermore, it is best to focus on deep-term trading when trading Bitcoin or any other cryptocurrency using IQ Option bitcoin. It should be noted that an overnight fee will be charged for IQ Option bitcoin. If the situation is open overnight, this is a nominal fee to your account.
How to Buy & Sell Cryptocurrencies
You can purchase cryptocurrency via the IQ Option bitcoin platform on CFD cryptographic devices. You just want to benefit from the acceleration of the device up or down, typically from a long-term perspective. That option’s benefits are that there is no control and your gains correlate exactly to the adjustments in the cost of the cryptocurrency you invested in. Furthermore, through the use of collateral, you can effectively manage your risks.
Trading Bitcoin on IQ Option
One simple way to trade IQ option bitcoin is through resistance and support. As mentioned earlier, BTC prices generally stay in a zone before a trend evolves at last. It can stay for hours or even days in this range. The huge support zones and the resistance in your map can therefore easily be identified. The positive thing about Bitcoin is that the pattern is strong once the resistance or support level is broken.
It is helpful to use the 1-hour candle interval graph like this one when drawing the support/strength levels.
Switch on the monitor of the candles for 15 minutes. This will allow the detection of prices when the help or resistance is just about to crack. You will note that the price begins to break out of the resistance specifying an imminent increase in the figure below. You have to wait for the resistance to close the candles. Join a 1 to 3-hour role.
Although you still use the following map, you can find that the Bitcoin price rises over three hours from around 3350 to 3500. It is a benefit of around $150.
Even for inexperienced traders, trading Bitcoin and other IQ options cryptocurrencies can be lucrative. In reality, unlike IQ option Bitcoin trading, you manage the asset. The only downside in IQ option Bitcoin trading is the lack of an obvious pattern. It is also suitable for traders who have long wanted to hold positions.
Now that you have learned what IQ option Bitcoin is all about trading, try this crypto and head to your real account. No matter what resource you use, there are growing trading opportunities. There are benefits of each approach and a clear objective needs to be taken into account.