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How to Trade Cryptocurrencies on IQ Option?
Last modified: 19th May 2018
Your capital may be at risk. This material is not investment advice.
In the past few years, cryptocurrencies have gained enormous popularity all over the world. People are continuously talking about cryptocurrencies, no matter they know anything about it or not. The quality which separates cryptocurrencies from other forms of currencies is encryption. Cryptocurrencies now value over $100 billion which makes them a big nominee for substitute currency.
All these and much more qualities have attracted investors from all over the world to trade in cryptocurrencies. When it comes to trading cryptocurrencies, IQ Option provides the most advanced, precise and user-friendly trading platform for new as well as advanced traders. Since IQ Option is the global leader, it provides maximum trading instruments and indicators which help you in trading, analysing and managing your investments in cryptocurrency.
Depositing money in your account
Before placing a buy or sell order on IQ Option, you should have money in your IQ Option account. This amount can be the minimum required amount or should be equal to your trade size. The following steps can be followed to deposit money:
· Move your cursor to the right corner of the screen and then click on “Deposit” button.
· A list of various payment methods will open. Choose the desired one.
· You can fund your account with currencies or Bitcoins.
· Check the 3D-Secure box if you wish to take out cryptocurrencies afterwards.
How to trade cryptocurrencies on IQ Option?
· Click on the “Open new asset” button (‘+’ on the screen’s top) in the trade room and choose the cryptocurrency you wish to buy or sell.
· Go to the “Amount” window at the screen’s right side and choose the cryptocurrency’s dollar value you wish to buy or sell.
· Click on the green button (Buy) or red button (Sell) on the screen’s right side to get your position.
Your position can then be monitored in real-time and you can place a stop loss or take profits subject to your preference and trading plan.
Withdrawing money from your account
The profit earned from trading gets deposited to your IQ Option account. It can be withdrawn and forwarded to your desired place by following these steps:
· Move your cursor to the drop-down menu on the right upper side and click on it. Then select “Withdraw Funds”.
· You will be redirected to a page from where you should select the place to receive withdrawn funds. The various options include some renowned wallets, debit card, credit card, or wire transfer directly to your bank account.
The platform of IQ Option gives you an opportunity to directly withdraw Bitcoin (if you have checked the 3D-secure button while depositing money in your account). You should follow these steps:
· Purchase Bitcoin by selecting Cryptocurrency on the trading platform of IQ Option.
· In your trade room’s left panel, open the portfolio and discover the open positions of Bitcoin. Clicking on it will show the trading details.
· A withdrawal icon is placed at the detail list’s foot. Click on it.
· Enter the address of your Bitcoin wallet and initiate a request for withdrawal.
After your withdrawal request is approved, the Bitcoins you requested will be directly credited to your wallet. The value will be same as the Bitcoins exchange rate while placing the order.