Cryptocurrencies, or digital currencies, are fast emerging as one of the most popular asset classes for seasoned traders as well as new arrivals to the scene.
While some investors prefer to own cryptocurrencies such as Bitcoin (BTC), many are opting to deal in CFDs instead, and that’s what this video focuses on – how to buy and sell cryptos for speculative gain.
‘Lots of people who bought into cryptos, bought and held on to them, hoping they would go up in value’, says Martyn Price of SGT Markets. ‘But that’s not really a trading strategy, more a blind hope that the product you bought will become more valuable over time. Trading cryptocurrencies, as a CFD (contract for difference), is much like buying and selling forex pairs, where you can exploit price movements to seek an upside whether you have bought or sold.’
In this episode, Peter Kristensen and Martyn Price (CEO of SGT Markets) discuss some of the key concepts behind trading cryptocurrencies, how beginners can get started and why trading cryptos is very similar to trading any other asset class, even if the volatility levels are often much higher in crypto!
Don’t miss this if you are interested to learn how trading cryptos can be as rewarding as trading forex and other traditional assets, but in a new market with unparalleled price volatility.