Alpari
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Bitcoin trading with Alpari


Alpari – that Forex broker which offers trading assets in the forex market including cryptocurrencies. The company launched in 2017 new instruments on types of ECN accounts – CFDs on bitcoins (dollars and euros). Since the brokerage organization is considered one of the most experienced and reliable in Europe, many traders who want to start cryptocurrency trading. The company is the only one who becomes a client of this company.

 

Cryptocurrency trading

Cryptocurrency trading (Cryptocurrency Trading Training) is the same kind of trading, but in this case cryptocurrencies are used instead of stocks, bonds and currencies, i.e. conventional assets. Unlike forex and binary options trading, this market is more dynamic and unpredictable. Traders buy cryptocurrencies at the best possible rate and sell them when they wait for the price to rise. There is no need to perform complicated manipulations to trade this currency. The main tools for this work are charts, which are used to determine the trend, orders (requests by players to buy or sell), the history of transactions, which helps track the list of transactions on the exchange. Trading volumes are also used, which helps determine exactly how much cryptocurrency has changed hands. As with other types of trading, there are available indicators various strategies, robots.

What are cryptocurrencies?

Cryptocurrencies are digital currencies whose basic unit is coins issued on the network. They are not linked to the usual currency or the state system. That is, they are electronic money that can be used on the Internet. Bitcoins and other cryptocurrencies are formally valued in the same way as real money. The price is set at the level offered by the seller for a certain amount of coins at the time of trading. There is a myth that the rate of currency depends on the price of electricity.

But electricity consumption can only be attributed to the stage of digital production, so it does not participate in the formation of the price of coins on the market. There is no dependence of the official rate on production costs. The same is observed with metals, shares of different companies and national currencies. This means that digital money can be considered a full-fledged asset. It is possible to invest in cryptocurrency, receive income from fluctuations in the rate and purchase and sale transactions. Features of cryptocurrencies:

  • Anonymity. Searching for an address can be compared to creating a mailbox, where names are already occupied. The number of potential choices is huge, which ensures anonymity.
  • There is no controlling body. The work is controlled by the technology itself and the people who use it. Therefore, accounts are not frozen and transactions are not withdrawn or blocked.
  • Translation price. No commission is charged because there are not many intermediaries.
  • Globality. Transfers are made at any time from anywhere in the world where there is internet.

Cryptocurrency opportunities

It is possible to make profit on cryptocurrencies, using several options for earning money. So, the traditional way is mining, that is, mining currency by solving mathematical problems using special equipment or a computer. But now there are many other ways of working. Another way is the work on the exchange. There are a lot of crypto exchanges, so you need to carefully choose a suitable variant for yourself. A more reliable way is to work with a binary options broker. Many traders practice cooperation with them in the daytrading. Within this system positions are opened and closed within minutes or hours during the whole day or day. At the end of the day the client does not leave any open positions. In this type of trading, traders watch the value, trying to predict its changes in order to make money on the change of currencies. The main disadvantage is the unpredictability of the market.

Bots are also used for trading. These are programs that are set up to autotrade currency according to the parameters set by the client. Bots can be trading and arbitrage. The first work on one exchange, the second – buy coins where the rate is lower and sell where the price is higher. The programs work according to the strategy the trader decides to use. But for beginners, it is better to use bots with preset parameters. Free bots can be downloaded from the Internet, although there is a risk of falling into the trap of hackers. Paid cryptobots can be rented or bought from companies that develop them. This can be a ready-made version or ordered to individual requirements. The main advantage of this way of earning is that it saves the client from monotonous work. The bot reacts faster to changes in the situation and works quickly on several exchanges at once.

Trading cryptocurrencies with a binary options broker

If after the advent of cryptocurrencies, earnings were made through mining and cryptocurrency exchanges, now more and more traders are turning to brokers. Often brokers that offer binary options trading and forex work, cryptocurrencies are among the assets. Working with such companies in this case, clients protect themselves from hacks that happen in cryptocurrency exchanges. Brokers have licenses, so they work according to the law. But here, too, one must be able to track virtual money trends, as the risk of losing virtual funds remains.

When starting to trade, a trader should know that cryptocurrency exchanges often provide a complex terminal, which is not easy to deal with. Cryptocurrency brokers provide an opportunity to trade in a familiar environment. In addition, trading on the exchange can be unprofitable for beginners, because of the high deposit amounts, commissions, additional fees for transactions, transfer of money to the wallet. And one of the main disadvantages of cryptocurrency exchange is insufficient security. If a trader’s account is hacked, the exchange is unlikely to return the lost funds. A cryptocurrency broker has much less disadvantages. They provide quality service, a lot of educational information, the possibility of contacting 24-hour technical support. But at the moment, the number of cryptocurrencies brokers work with is limited.

Bitcoin trading with Alpari

Alpari has been offering bitcoin trading since 2017. Then the company launched new instruments on ECN accounts – CFDs on BTC/EUR and BTC/USD bitcoins.

How to trade bitcoin with Alpari

Alpari offers its clients to make money from fluctuations in the exchange rate of a cryptocurrency. The risks are high, but the earnings can also be impressive. For bitcoin trading, the broker offers the MetaTrader 4 platform, which is used to work with other assets as well. Trading through the terminal is possible both on an uptrend and when the price falls. The platform reflects the history of exchange rates and allows the use of technical analysis. ECN accounts should be opened or existing ones should be funded. The trading conditions are available on the website alpari.com.

 

Opportunities for cryptocurrency trading

Opportunities for trading cryptocurrencies are directly related to the use of a trading terminal. This is the popular platform MetaTrader 4, which has the necessary functionality for successful work. Cryptocurrency trading with its help is similar to the work with pairs of national currencies. Minimum and maximum prices, candlesticks and trends are formed. But digital coins are not tied to any country, so events in different countries do not affect its rate, as it happens with the dollar or pound sterling. The terminal has more than 20 built-in indicators that allow you to reflect the market trends. They work on the basis of the information about the previous periods. Beginners should pay attention to the study of such tools, because they will help to quickly understand the trends and plan your work.

It is possible to automate operations with the help of software, which is presented in the form of scripts and robots. If the trader uses a traditional strategy, monotonous actions can be transferred to the program. In some cases, beginners use someone else’s development, and until they figure out how to trade bitcoins correctly, trade software for them. As they gain experience, advisors may not be needed, but the drawing functions continue to be used. They can be used to mark trends and outline analysis patterns. Some traders trade without them only on the basis of candlesticks which are formed from their combination.

Most of the work goes in the direction of a trend that hasn’t changed in the last year. But some experts believe it is safer to make money on price corrections after a spike. Among other trading strategies, drawing support and resistance levels is popular. In this case, the chart should be switched to hourly candlestick display mode and use the tools to draw horizontal lines at those levels where the price is consolidating.

Scalping also works well. The key points are short-term market entry. Levels will be needed here. The order opens at the rebound for a few seconds and closes at a few points of profit. In such a strategy, it is imperative to use indicators that allow you to see in time the moment suitable for the transaction. Such tools show arrows in the direction of the value movement or several colored envelopes reflecting the signal to open. When a signal appears on the chart, the client enters the market and expects profit. Such strategies can be automated, as the work consists of following certain rules.

 

Terminal for cryptocurrency trading

To trade with Alpari, we use the MetaTrader 4 platform. Its advantages:

  • the ability to open an unlimited number of orders;
  • Closing transactions in manual mode and automatically;
  • partial closure;
  • the possibility of transferring a stop order behind the value movement;
  • parallel trade in currency pairs and metals;
  • simple Russian-language interface with detailed help for each of the menu items;
  • the opportunity to contact colleagues in the thematic forum to resolve disputed situations.

 

Learning to trade cryptocurrencies at alpari.com

The company’s website has a lot of useful information about working with cryptocurrency.

Conclusion

Alpari (bitcoin trading) is a reliable broker that offers not only forex trading and fixed contracts (binary options). It is also possible to work with cryptocurrency. The same trading platform is used for this as for working with other assets. Therefore, traders who are just starting to work with cryptocurrency will be comfortable to trade on a familiar platform.

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