87% of retail CFD accounts lose money with this provider. Your capital may be at risk.
Cryptocurrencies have remained a popular alternative investment category, which attracts investors seeking high volatility.
Trading cryptocurrencies can, however, be difficult because of its technology.
Luckily, platforms like IQ Option has made it just as easy to trade Bitcoin, Ethereum, and other cryptocurrencies as trading stocks.
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How to buy cryptocurrencies on IQ Option
Here is a step by step guide on how to buy Bitcoin, Ethereum, or any other of the listed cryptocurrencies on IQ Option.
Step 1: Open up the IQ Option trading platform.
Step 2: Press ‘Open New Asset’ at the top of the trading window.
Step 3: Go to the Crypto tap on the left side of the pop-up window.
Step 4: Selected the cryptocurrency you wish to buy.
Step 5: Choose amount, leverage, and auto-close. Then press Buy.
As of this writing, you can trade the following cryptocurrencies on IQ Option.
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- OmiseGo/OMG Network (OMG)
- Dash (DASH)
- TRON (TRX)
- Bitcoin Cash (BCH)
- Zcash (ZEC)
- Litecoin (LTC)
- Qtum (QTUM)
- Ethereum Classic (ETC)
- EOS (EOS)
When you trade cryptocurrencies on IQ Option, you trade a CFD, a contract for difference, which price is determined by an underlying asset, in this case, the selected cryptocurrency.
Therefore, you cannot withdraw any cryptocurrency to an external wallet when you buy crypto on IQ Option.
In terms of investing in crypto, it’s exactly the same on IQ Option, it’s just simpler, and you can trade at leverage.
Furthermore, you can short cryptos on IQ Option as well.
How to short cryptocurrencies on IQ Option
If you believe a cryptocurrency is due to fall in value in the near future, you can profit from that if you are correct by shorting the asset.
Shorting a cryptocurrency on IQ Option is just as simple to do as buying them.
Here is a step by step guide on how to short cryptocurrencies on IQ Option.
Step 1: Open up the IQ Option trading platform.
Step 2: Press ‘Open New Asset’ at the top of the trading window.
Step 3: Go to the Crypto tap on the left side of the pop-up window.
Step 4: Selected the cryptocurrency you wish to short.
Step 5: Choose amount, leverage, and auto-close. Then press Sell.
You will now earn a profit if the price of the selected cryptocurrency falls and lose money if the price rises.
Disclaimer: Investerfy.com is not a financial advisor. All content on this site is for educational purposes only. Make sure you understand the risk associated with investing and trading.
