Co-founders of Zerion Yevgeny Yurtaev and Vadim Koleoshkin talked about how North Korea can affect the cryptocurrency market and how bitcoin is better than oil.
Where has Kim Jong-un gone, how to choose the right moment to exit the cryptocurrency market, and how decentralized finance works. These and other questions were answered by the co-founders of Zerion Evgeny Yurtaev and Vadim Koleoshkin.
Amid the global economic crisis, when oil prices fell, the shares of many companies sank, most assets behaved unpredictably, and thoughtful investors are looking for new tools to make money. You can make money on both a falling and a growing market using CFDs on cryptocurrencies. And you don’t need thousands of dollars for this: you can start with $ 10.
What is CFD
Investors and traders have already figured out a little about what cryptocurrencies are. However, in order to seriously make money on them, significant investments are required. If you buy a piece of bitcoin for $ 10, then in order to earn $ 5, bitcoin will need to grow by 50%. That is, at the current exchange rate of about $ 6.5 thousand, it will have to reach almost $ 10 thousand. Even if serious fluctuations start in the market, investing such an amount and making a correct forecast, you will earn extremely modest amounts.
In addition, the current decline in prices for most of the popular cryptocurrencies casts doubt on the earning strategy familiar to beginners: bought cheaper – sold more expensive.
To make money on any market movements – both on growth and on a fall – you can use margin trading in cryptocurrencies, i.e. trading with leverage. One of the most convenient ways to implement margin trading is with the help of CFDs on cryptocurrencies, which have recently appeared in the Kazakhstan market.
How CFDs work
Cryptocurrency CFDs are CFDs for digital assets. When working with this tool, you do not buy or sell a cryptocurrency, but conclude a deal on which direction the rate will move: rise or fall. If you forecast the price to rise, you enter into a buy trade. If the price rises, then you make a profit – this is the difference between the price at which you closed the deal and the one at which you opened it. If you think the price of the cryptocurrency will fall, you enter into a sell trade. If the price at which you close the trade is less than the price at which you opened the position, you will profit from the difference. That is, you can make money with this tool both when cryptocurrencies are growing and when they are falling.
Those who have already tried working in financial markets are familiar with CFDs on traditional assets – oil, gold, currencies. Professional traders love these tools for the fact that they allow you to earn even with small amounts. Crypto CFDs have the same benefits. You can start trading with only $ 10 in your account – this is the amount you need to make a deal. Moreover, starting with $ 10, you can immediately use $ 100 or more of trading capital, depending on the leverage that the broker provides you. Leverage is a kind of loan that allows you to operate on transactions with a larger amount than you have.
Another advantage of CFDs on cryptocurrencies is that you can use them for short-term trades when you catch the movement of the instrument within the day, and for long-term positions when you hold a trade for a long time.
Where to make money with CFDs
To start working with CFDs on cryptocurrencies, you will need to open a trading account. There are various platforms that offer cryptocurrency CFDs. For successful trading, it is important to pay attention to several points: it is desirable that this be a platform specializing in the crypto market. In this case, you will receive professional tools tailored to your needs. It is important that the crypto broker is not a newcomer to the market, has an appropriate reputation and strong partners, which will ensure the safety of your work and an appropriate level of service. Pay attention to how the liquidity issue is implemented, how the order execution logic is implemented, what is the configuration of the product itself. Professionals in the market do not just take a tool out of the box but customize it in accordance with the needs of crypto traders the way a trader needs.
At the beginning of 2020, the crypto broker CEX.IO Broker entered the Kazakhstan market, which offers its online platform where CFDs on cryptocurrency are traded. Kriptobroker part of a group of companies headed by a regulated kriptobirzhey CEX.IO . Crypto exchange CEX.IO serves millions of customers around the world and is licensed in Europe and the USA.
Working with CEX.IO Broker, you get access to two platforms at once: a crypto broker platform and a cryptocurrency exchange. You will have one login and wallet for storing cryptocurrency, and funds between platforms will be transferred instantly and for free. This allows you to simultaneously trade the deliverable market through the exchange (when you sell and buy the cryptocurrency itself) and the non-deliverable market (when you buy and sell CFD derivatives) through a shared wallet.
Now the platform has seven pairs with popular cryptocurrencies: BTC / USD, BTC / EUR, ETH / USD, ETH / EUR, ETH / BTC, LTC / USD, LTC / BTC. You can trade them 24 hours 7 days a week. In Kazakhstan, as in the rest of the world, customers are offered 24/7 support to promptly answer questions and help use the platform.
On several separate accounts at once. CEX.IO Broker allows you to keep up to 5 trading accounts so that you can implement several separate trading strategies at once.