As we have written before on optionsreviews.com 24option has already enabled its traders to trade cryptocurrency CFDs. Now things are improving even more with 24option as one of the leaders in options trading industry is increasing number of available options to trade. Currently 24Option is expanding its offer of cryptocurrencies for trade in order to make trading as versatile as possible.
24Option Cryptocurrency Trading – How To Trade?
First step as always is to create an account at 24Option web page. After depositing money you can start trading. 24Option offers great variety of assets to trade from stocks and indices to forex and commodities. Here we are focusing on cryptocurrencies. When you start trading you will be shown this trading platform you can see on the picture below.
Trading is quite simple, you choose how much you wish to invest, then you predict whether the price of traded cryptocurrency will go or down. Based on this decision you choose to buy or sell. Once you have selected buy or sell option you click on trade. After that trade commences. There are few other options that can help you make profitable trade. For example “Open trade when rate xy”. With this option you can choose to enter trade when cryptocurrency which you are trading reaches certain amount. If you wish to trade with trend you only need to set that rate in the direction you believe trend will go. After price has passed that point trading platform will automatically perform buy or sell, depending what you have preset.
24Option Cryptocurrency Trading – Why Trading Cryptocurrency Options?
Trading cryptocurrency options is good idea for number of reasons:
- You don’t need to buy a crypto and then wait for it to rise (which can take months, years). With options you only need to choose expiry time and strike price that suits you.
- Trading options is a great way to hedge position you are holding in cryptocurrencies
- Cryptocurrency market is quite volatile. With options it is possible to make mone on every trend reverse.
- If you are one of those who have missed out on golden times of cryptocurrency trading, options represent great way to make good profits on cryptocurrencies.
Well established exchanges such as CBOE and CME are offering cryptocurrency futures for trade to institutional traders. Futures are form of options contracts that are strictly formulated and canonized by exchanges. Unfortunately futures’ trading is accessible only to big players. But small time traders can trade options with brokers such as 24Option.
24Option Cryptocurrency Trading – What Cryptocurrencies Are Available For Trade?
Cryptocurrencies available for trade on 24Option trading platform are: bitcoin, bitcoin cash, ethereum, dash, litecoin, ripple and ethereum classic.
24Option Cryptocurrency Trading – Conclusion
Cryptocurrencies are by far most talked about term in general trading community. 24Option as a long standing, good-performing broker has decided to offer them up for trade even before big institutional exchanges and brokers. You can find more information about 24Option in our 24Option broker review. If you wish, you can start trading with 24Option by clicking on the button below the text.