Trade Cryptocurrencies with CFD
Usually traders use cryptocurrency exchanges in order to trade cryptocurrencies. Another option is to speculate on price movements, without the need of actually buying the cryptocurrencies. Cryptocurrencies trading can bring impressive results, and a great way of doing so is by using CFDs. When trading CFD, we do not need to actually own the cryptocurrency, instead, we are receiving the difference between current and future price, which we hope will be as speculated.
Leverage & Stop Loss/Take Profit
You can trade with more money than you really have by using the leverage tool. On one hand, one can make more profits from initial deposit with small movements. On the other hand, the risk of losing is also higher, and every price movement opposite to prediction can hurt your assets. Consequently, one must use leverage with caution. It’s also important to trade with a broker who will understand your trading style and together you could find the leverage that is right for you.
Take profit and stop loss tolls can be also used when trading CFDs. These features are useful when you consider the volatility of the cryptocurrency market. Stop loss is helping you to determine the level, in which you want your position to no longer be open. This way you protect yourself from possible losses. The take profit completes it by enclosing your profits and prevent losses in case of price decline.
Short Vs. Long Term Trading
Because the spread is typically lower, cryptocurrencies are a good option for day trading. 12Trader do not charge on swaps, so long-term trading is perfect in this case. You can buy the cryptocurrency and hold the position until you decide to close it and sell the cryptocurrencies. You can sell them for another cryptocurrency, for example bitcoin for Ripple, or you can exchange them for other currency, for example bitcoin for USD or EUR.
Customer Support and account management
A good customer support is mandatory when you need help with trades or set up an account. 12Trader provides its clients with professional, 24 hours services and support. This is unlike other cryptocurrency exchanges, who do not have such services, and traders must deal with the problems on their own, what can lead to mistakes and therefore losses.
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