A look at crypto CFDs
The world has gone crazy about crypto-derivatives platforms such as BitMEX, PrimeBit or Bakkt.
However, people interested in cryptocurrency can make better use of their knowledge trading crypto CFD's, on platforms with longer history, much easier interface, and lower fees.
If you are trading on BitMEX or a similar platform, stop doing it now!
Grab your phone, go outside for a walk, and open SimpleFX WebTrader where you can trade everything, including cryptocurrencies. Open a buy order on Bitcoin, Ethereum or Ripple if you believe that the fiat currency system is going to crash soon.
Or if you are a Bitcoin hodler, hedge your long position with short orders on Bitcoin and other cryptocurrencies when you feel that the bears are yet again going to take over. Trade with leverage, and earn money when Bitcoin goes down just to buy more when it's about to take over.
Here's why good old CFD trading apps are way better than the derivatives platforms:
- Much easier to understand.
- No problem with market liquidity as it's provided by the broker
- A much longer history of operations, which is the best proof of credibility
- Much easier interface
- Great on mobile
- Can trade anything - crypto, stocks, forex, commodities.
The last point is very important as many cryptocurrency maximalists are also interested in the possibility of gold and silver regaining the role of money.
Every cryptocurrency day trader knows that to make a profit you need to create a robust strategy, and then execute it when the right moment comes ice cold, keeping emotions in check.
SimpleFX WebTrader is an all-in-one tool that makes margin trading easy. It's a web application you don't have to install. The user experience is designed to work perfectly on every screen. The app automatically adapts to the screen size.
That's why when you log into app.simplefx.com on your laptop (or desktop) you get access to all the analytical tools:
- Drawing support, resistance lines and trend channels
- Apply Fibonacci ratios, Gann angles, and other pattern detectors
- Use your favorite indicators
You can create it in just a few clicks. SimpleFX also provides great social trading features, where the most experienced users are motivated to share their thoughts and strategies with an awesome affiliate program.
Finally, you can execute your strategy then the right time comes. No need to stay in the dark in front of the monitor. Go outside with a smartphone in your pocket, and make winning trades with just one swipe.
If you are trading on BitMEX trying to understand the system, go to SimpleFX and start making easy trades.
This article was submitted by SimpleFX.
