Crypto Basics

Crypto trading has made many investors wealthy. Experts’ reports indicate a rapid rise in the number of crypto millionaires.

Crypto trading is fun when you have the basic information and the right tools. Below are some of the things you must know before venturing into this industry.

What is crypto trading?

Crypto trading shouldn’t be confused with crypto investment. Trading is for the short term while investment is mostly for the long term.

Crypto trading involves speculating on the ups and downs of a given digital currency. Trading happens via specialized brokers. Some crypto exchanges also provide brokerage services. This platform links you to quality CFDs brokers.

What digital currencies are traded online?

There are over 12000 digital currencies today. At least half of these digital currencies are available for trading.

As stated above, trading is facilitated by specialized financial brokers. Moreover, trading happens through derivatives known as Contracts for Differences (CFDs).

What platforms are used in online trading? 

The MT4 is the most popular platform for online trading. At least 80% of the brokers offer this platform. The platform is developed by MetaQuotes Software and was released in 2005.

Other versions such as the MT5 have been released but they are not as popular as the MT4. This platform’s popularity is attributed to its many trading research tools. Moreover, it’s easily customizable to fit the trader’s goals.

The Bitcoin Smarter tools are built to work through the MT4. We have partnered with top CFDs brokers to customize the platform to support the tools.