But should I though? I mean iForex crypto trading is in CFDs form right? So you can go any direction. If I don’t wanna hold the coins or invest in them. I just want to make some money from the price changes. Is it really that helpful to have in-depth knowledge to do that?
It’s a legit question. I think if we’re talking about long-term trading it’s desirable to know your instruments. Long-term trading is not investing surely, but still. You need to somehow get the idea of where the price will be in a couple of months.
Of course if you’re a scalper you don’t give a fudge about the crypto specifics. Something like that.
I guess it depends. I personally trade cryptos also because I like the whole idea of DeFi. So it’s interesting for me to learn about the sphere, read the news and, in addition to that, make some profits.
By the way crypto assets can be traded not only in CFD form.
What do you mean not only in CFDs? I can also buy real coins at iForex, just like crypto exchange or what?
No! That’s not what I meant. iForex has cool feature called non-leverage trading. I thought you know about this. It’s a great alternative to investing in long-term.
I think I saw it, but never bothered about reading the conditions. Because the possibility of trading without leverage doesn’t sound very appealing to me.
I thought about it too in the beginning. However as usual, the devil is in the details. iForex non-leveraged trading has one major advantage - you don’t pay overnight fees in long positions. Hence why it is a proper tool for buying assets in the long haul.
Sounds quite cool, but don’t you have to have a huge sum of money to be able to open positions on this type of trading? I mean if I want to buy Bitcoin without leverage, it would definitely require some serious fundings.
Hmm…In case of Bitcoin you’re right. But there are a lot of other cryptos and stocks available, so you can choose something less expensive. For instance Cardano coin has minimum deal size of 100 coins. Considering the current price it will cost you only $40.
The same with shares, just pick something that you can afford.
True! Bitcoin is unreachable, even at the end of its downtrend. But I don’t think I’ve considered other coins seriously. It always appeared to me that Bitcoin is the one that I should strive for. I don’t know.
Well, it’s cool when you have the possibility to trade Bitcoin, or in our case invest in Bitcoin with non-leveraged trading. But I don’t see any problems with picking any other altcoin for the same purpose.
Especially as somebody mentioned earlier all the major cryptos are tethered to the Bitcoin price no matter what. at least in the foreseeable future.
I guess you’re right on this. By the way, I would turn my attention to Dogecoin. It shows the tendency to decouple from Bitcoin in the recent weeks. Plus it is heavily supported by the crypto community.
I don’t know about that. Doge coin is a meme that got out of control. It is indeed supported by the crypto community and some of the famous people. However I can’t see the serious basis behind Doge, as opposed to Ethereum or Cardano for instance.
Oh I missed quite an interesting discussion. Let me insert my couple of pennies into it.
I guess Dogecoin can be a good trading asset in the future, especially if it will be included as a real cryptocurrency in some Musk’s projects. Twitter or Tesla for example.
Are you serious about that? Do you really believe that Dogecoin can be a payment currency frfr?
Why not? At least as far as I know Musk has claimed to make out of Twitter an analogue to Chinese WeChat. Therefore Twitter can implement some crypto in it. Dogecoin is a very suitable contender.
I don’t know. It seems like a complete joke. As far as I’m concerned, cryptos are still far from the point when they will be used as usual currencies. Maybe I’m wrong, you tell me.
It’s much closer than you think, actually. I read some statistics recently, that stable coins in 2022 had more transactional volume than some fiat currencies.
And if you kept an eye on the crypto sphere, then you’d know that USDT was crushing it. So this stat is totally believable.
Because USDT is not a crypto in a true sense. It’s just a digital dollar index, therefore it has more credibility than other digital assets. Hence why people used it more comfortably for different purposes.
It’s true. But on the other hand Dogecoin’s market cap and circulating supply make it a relatively conservative coin that has no intentions to have a high price and some crazy volatility.
Plus, what a story it would be! From a meme, to a real cryptocurrency;)