Connect with us

Bitcoin

5 Brokerages You Can Use To Trade Bitcoin Using Leverage

Published

on

Trade Bitcoin Using Leverage

If want to make money by actively trading bitcoin, you can now also do so using leverage and thereby potentially earning excellent trading profits. In this post, you will be introduced to leveraged financial trading and the top 5 brokerages you can use to trade bitcoin using leverage.

What is leverage in financial trading?

In the financial markets, leverage refers to the use of borrowed funds to purchase a financial security. Leveraging is most common through the use of CFDs (Contracts-For-Difference) or when spread betting. For example, using leverage you can purchase 20 times the value of your initial invested capital using a 20:1 ratio. This a common ratio in currency trading.

Some brokerages even allow you to leverage up to 200:1. That means that when the price of the underlying asset moves up by 5 points, will make gain 1000 points. However, it is imperative to note that if the trade goes against you and the security drops in value you can also lose 1000 points. Hence, it is advisable not to use too much leverage when trading. And to never trade using leverage with money you can’t afford to lose.

The top 5 brokerages that allow you to trade bitcoin using leverage

If you are comfortable with trading using leverage and believe you have a firm grasp on bitcoin prices movements you can use the following five online brokerages to trade bitcoin using leverage.

Whale Club

Whale Club is an online brokerage that allows you to trade bitcoin using up to 40:1 leverage. Furthermore, it allows you to trade other asset classes such as Blue Chip Stocks and currencies using bitcoin as the base currency with zero trading fees.

It is has become a very popular financial trading platform for cryptocurrency enthusiasts as is it is purely cryptocurrency-based and, therefore, doesn’t require a long onboarding process, as no banks are involved.

1Broker

1Broker is a bitcoin forex and CFD brokerage that aims to connect bitcoin to the global markets. Similarly to Whale Club, it allows you to trade financial securities, such as stocks, commodities, and currencies, using bitcoin as the base currency.

eToro

eToro is the world’s leading social trading platform. What is social trading? It refers to a new type of financial trading that uses social networks that allow you to copy trades of ‘professional traders’ to generate a profit. It is also often referred to as ‘copy trading’ and has become very popular in recent year. eToro is the market leading social trading platform and also offers its users the option to bet on the price of bitcoin.

IG Group

IG Group is one of the most established online trading brokerages in the United Kingdom. It offers its users a spread betting and a CFD trading platform and covers a wide range of markets and financial products. It has recently also added bitcoin as one of its tradable assets and allows you to trade bitcoin using leverage on its CFD trading platform IG Markets.

Plus500

Plus500 is an established UK-based CFD trading platform. It offers CFD trading for a wide range of asset classes and securities. BTC/USD is one of them. You can trade BTC/USD using a leverage of 10:1 using CFDs (Contracts For Difference). You can also trade the cryptocurrency Litecoin on Plus500’s trading platform, making it a popular CFD brokerage for cryptocurrency ethusiasts around the globe.

Continue Reading

Bitcoin

Crypto.com Introduces Crypto Earn and Crypto Credit

Published

on

Crypto.com

Cryptocurrency platform Crypto.com has introduced Crypto Earn and Crypto Credit to enable users to earn interest on their coins and borrow by using digital currency as collateral.

Crypto Earn And Crypto Credit

Crypto Earn is a financial product that allows users to earn as much as eight percent per annum in interest on their cryptoasset holdings.

Crypto.comTo do this, users deposit digital assets into Crypto Earn through the Crypto.com app and then begin accumulating interest each day through their preferred cryptocurrency. To get started with Crypto Earn, users will have bitcoin, Paxos, and TrueUSD to choose from, according to a company press release.

Crypto.com is offering users two fixed periods namely one-month and three-month terms to earn interest on digital assets. The company will soon provide users with a flexible holding term. With Crypto Earn, you can also withdraw and deposit coins at no fees and spend what you earn.

Crypto Credit gives users instant loans with bitcoin as collateral. Users are free from fixed repayment schedules, monthly fees, payment deadlines, and late fees which financial institutions such as banks often impose. Users, therefore, enjoy a flexible repayment schedule in the twelve months from the beginning of the credit term.

Furthermore, users owning MCO tokens staked in the app receive a special rate of eight percent per annum. Users can use their loans to buy more cryptocurrencies on the app or they can spend it on the MCO Visa Card with cash back of up to five percent.

Other benefits of using Crypto Credit are that you do not require credit checks and that you can get the credit limit you want.

“Crypto Earn offers the most attractive interest rates in the market today. With the MCO Visa Card and Crypto Credit, we are uniquely positioned to do it while maintaining sustainable unit economics. MCO Visa Card, Crypto Earn, and Crypto Credit together form a powerful product suite that nobody else in the industry has today. We have never been more excited about the potential of our platform and look forward to continue scaling it globally later this year,” said Kris Marszalek, co-founder and CEO of Crypto.com.

Continue Reading

Bitcoin

Different Kinds of Bitcoin Trading Strategies You Should Know About

Published

on

trading strategies you should know

Bitcoin has been around for over 10 years now. There are a lot of things that have evolved with it over the years, including how easy and secure it is to buy, the different ways we can buy it, and the various bitcoin trading strategies that people use now.

There are a lot of bitcoin trading strategies now that it could intimidate a lot of newbies trying to get into bitcoin. The truth is, each strategy caters to a specific kind of trader so if you’re new, these strategies might be worth looking into before you invest any kind of money.

Different Strategies

To help get you started on choosing the kind of strategy you’re looking for, here are the two most common strategies that bitcoin traders use:

HODLing

You may have seen this slang around while doing your research. “HODL” refers to holding your position. It was created in 2013 when bitcoin’s price was dropping but a certain user decided not to sell his shares. He meant to write “HOLDing” but ended up making a typo instead: “HODLing”. It eventually caught on and people decided to give it a new meaning: “Holding On for Dear Life.”

The HODLing strategy refers to the holding of your bitcoins in hopes that your investment will grow over time. To start HODLing, buy bitcoins in bulk when the price is low and then keep it close while watching the crypto market. People can hold their positions from weeks to months to even more than a year. It’s the easiest and one of the more common trading strategies.

Day-trading

BTCDay-trading is another very common form of trading in the bitcoin world. The strategy refers to closing all your positions before the day ends. It involves executing long and short trades to capitalize on the market price of that day. Basically, this prevents having open positions overnight by finishing all your trades within the day.

It’s a more technical form of trading and it requires your full attention and a lot of your time. You’ll need to keep a close eye on all your positions and possibly watch multiple screens to do so. It requires a high degree of focus as well as a good knowledge of how the crypto industry works.

Just getting started

These two trading strategies are literally the most common forms of trading. There are so many more strategies such as swing trading and alt-coin filipping that you’ll need to learn but these two should get you started on your bitcoin journey.

Now, all you’ll have to do is decide on which of the two suits you more. Be sure to figure out your game plan before getting into bitcoin at all and your style should follow.

This guest post was contributed by cryptocurrency education and news platform WeAreCryptos. 

Continue Reading

Bitcoin

Ghana’s Securities Exchange Commission (SEC) Warns Public About Investing in Crypto

Published

on

In a recent statement, the SEC of Ghana has warned the populace against investing in cryptocurrency and crypto-related investment schemes. This warning comes amidst a growing concern of the Security and Exchange Commission (SEC) about how Ghanaians are diving head first into the cryptocurrency market.

SEC Warns About Crypto

The Director General of the SEC, Rev. Daniel Ogbarmey Tetteh, signed an official statement released by the Commission that cautions the general public about cryptocurrency trading and all crypto-related activities as these are not regulated by the Securities Exchange Commission reports News Ghana

“[Cryptocurrency investments] offered by unregistered and unlicensed entities on digital online trading platforms with promises of high returns on investment are not sanctioned nor registered by the SEC”, the statement read.

The Commission’s statement further read:

Ghana SEC“The SEC wishes to inform the general and investing public that none of these cryptocurrencies is recognised as currency or legal tender in Ghana. The platform on which they are traded are not also licensed nor regulated by the SEC. The SEC would like to make it clear that it does not currently regulate these types of products offerings and their accompanying online trading platforms or Exchanges. Members of the general public who are investing or intend to invest in such currencies or assets may be doing so at their own risk and can in no way be protected under the Securities law regime in Ghana.”

Currently, digital asset trading remains a regulatory and legal grey area in the West African nation. Whereas the SEC has stated that it is presently not in support of or regulating cryptocurrencies, it also has not stated that cryptocurrency trading is illegal.

The regulator only mentions that they are “unregistered, unlicensed, and unregulated under the Securities Law of Ghana“. Thus, this can be very much regarded as a “disclaimer” on the part of the regulatory body to the public to sensitise them that trading in cryptocurrencies in the country presently is only done at one’s own risk.

Continue Reading

Bitcoin Price

Popular Posts