Discover more in our step-by-step to crypto CFD trading for beginners, and read on to find out how to trade crypto.
What is cryptocurrency CFD trading?
Does crypto have trading hours?
How to start crypto trading for beginners - The basics
1. Sign up for your trading account
2. Download your trading platform
3. Define your strategy
4. Asses marketing movements and choose a currency pair
5. Open your position
6. Monitor the market
7. Close your position
Crypto trading strategies
Strategy | What is it? |
Scalping |
This is a short-term strategy in which positions are opened and closed in minutes. Scalping can deliver more frequent, smaller profits. |
Day trading |
A slightly longer-term strategy, with positions closed within the same trading day, generally a few hours after opening. |
Swing trading |
Positions are kept open for several days or even longer as traders seek to take advantage of swings in the crypto market. |
Crypto trading derivatives |
Derivatives are forms of trading that “derive” their worth from an underlying asset. In this case, the underlying asset is a cryptocurrency pair. These include crypto spot trades, futures and forwards. |
Get started with crypto trading today - Sign up for a TMGM platform
Frequently asked question
1. Purchase your own digital currency reserve, hold this, and wait to see if it appreciates in value.
2. Open a position with a contract for difference (CFD), and wait to see if your prediction regarding the market direction was correct.
The CFD route means traders can benefit from a crypto price movement without actually investing in the currency itself. Also, with a CFD, traders can possibly profit even if the market moves downward, provided their predictions are correct.
Other valuable indicators include the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). For a more detailed look at these indicators, check out our blog.