Why To Trade Crypto?
Ease of use is the reason why cryptocurrency is in high demand. All you need is a smart device, an internet connection, our platform and instantly you become your own bank making payments and money transfers.
What is cryptocurrency trading?
Cryptocurrency trading is the act of speculating on cryptocurrency price movements via a CFD trading account, or buying and selling the underlying coins via an exchange
CFD trading on cryptocurrencies!
CFD trading is a derivative that enables you to speculate on cryptocurrency price movements without taking ownership of the underlying coins. You can go long (‘buy’) if you think a cryptocurrency will rise in value, or short (‘sell’) if you think it will fall.
CFD is a leveraged products, meaning you only need to put up a small deposit – known as margin – to gain full exposure to the underlying market. Your profit or loss are still calculated according to the full size of your position, so leverage will magnify both profits and losses.
Buying and selling cryptocurrencies via an exchange!
When you buy cryptocurrencies via an exchange, you purchase the coins themselves. You’ll need to create an exchange account, put up the full value of the asset to open a position, and store the cryptocurrency tokens in your own wallet until you’re ready to sell.
Exchanges bring their own steep learning curve as you’ll need to get to grips with the technology involved and learn how to make sense of the data. Many exchanges also have limits on how much you can deposit, while accounts can be very expensive to maintain.
Monyxa's own Crypto-exchange
Did you know that Monyxa also work as a crypto exchange? You can simply deposit via credit card or bank transfer and get your money sent back to you in cryptocurrency and opposite? Get in touch and find out more!
Frequently Asked Questions
Cryptocurrency trading is the act of speculating on cryptocurrency price movements via a CFD trading account, or buying and selling the underlying coins via an exchange.
A blockchain is a decentralised digital ledger where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit. This ledger is the foundation of any cryptocurrency transaction.
Cryptocurrency markets are decentralised, which means they are not issued or backed by a central authority such as a government. Instead, they run across a network of computers. However, cryptocurrencies can be bought and sold via exchanges and stored in ‘wallets’ .
We offer a wide variety of the world’s most popular cryptocurrencies and is constantly making more coins available for trading. Our current offering includes:
Bitcoin (BTC): The largest cryptocurrency by market cap, considered to be the first wide-scale implementation of blockchain technology.
XRP by Ripple Labs (XRP): This popular cryptocurrency enables real-time payments with greater transaction speeds and lower costs, and is already in use by many well-known brands.
Ethereum (ETH): This leading cryptocurrency has received international recognition from technology giants such as Microsoft and Intel. In addition to payments, Ethereum also supports “smart contracts.”
Bitcoin Cash (BCH): A ‘hard fork’ designed to be a solution to the transaction backlog Bitcoin was experiencing, Bitcoin Cash’s block size is eight times that of Bitcoin.
Ethereum Classic (ETC): Although Ethereum Classic has a significantly lower market cap than its namesake, it is still a popular cryptocurrency.
Litecoin (LTC): The first cryptocurrency to implement SegWit, a method of speeding up transaction times without compromising the underlying blockchain technology.
Dash (DASH): Based on Bitcoin’s technology, Dash’s additional infrastructure enables faster transactions and higher liquidity, though unlike other cryptocurrencies, Dash is a decentralised autonomous organization (DAO).
Leverage is the means of gaining exposure to large amounts of cryptocurrency without having to pay the full value of your trade upfront. Instead, you put down a small deposit, known as margin. When you close a leveraged position, your profit or loss is based on the full size of the trade.
Cryptocurrency markets move according to supply and demand. However, as they are decentralised, they tend to remain free from many of the economic and political concerns that affect traditional currencies.
No, since you are not actually purchasing the cryptocurrency outright when you trade spot cryptocurrencies, there is no need to have a virtual wallet to store them. We do this on your behalf! You only need a crypto wallet once you decide to deposit / withdraw your funds into your trading account using cryptocurrency!