Cryptocurrency Trading for Beginners on Deriv

In an increasingly digital world, cryptocurrency trading has quickly emerged as an exciting and potentially lucrative endeavour. Just as digital currencies have disrupted traditional financial systems, Deriv, an innovative trading platform, aims to revolutionize how cryptocurrencies are traded.

Trade Cryptocurrencies with Deriv

What is Cryptocurrency?

Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. Unlike traditional fiat currencies like the dollar or euro, cryptocurrencies operate on a technology called blockchain, which is a decentralized system spread across multiple computers. Bitcoin, created in 2009, was the first decentralized cryptocurrency, and since then, thousands of alternative coins, or “altcoins”, have been created.

Cryptocurrencies offer a variety of benefits, including the potential for high returns, ease of access, the ability to start trading with a small amount of money, and independence from traditional banking systems. With the global acceptance and recognition of cryptocurrencies on the rise, they are becoming an increasingly attractive asset class for traders and investors alike.

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About Deriv

Founded in 1999, Deriv has been a pioneer in online trading and has been at the forefront of technological innovation ever since. With a customer base spread across five continents, Deriv offers a wide range of trading products and services, with a strong emphasis on customer satisfaction, ease-of-use, and innovation.

Deriv’s approach to cryptocurrency trading is grounded in simplicity and flexibility. You don’t need to buy the actual crypto. Instead, you predict price movements of crypto assets and gain profit if your predictions are correct.

Deriv offers multiple platforms for trading – CFDs, Cryptocurrencies, DBot, Deriv GO, Deriv MT5, Deriv X, DTrader, Multipliers – each with its unique benefits and features. The platforms are designed to cater to the needs of different kinds of traders, whether they are complete beginners, experienced professionals, or somewhere in between.

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An Introduction to DTrader

DTrader is one of the user-friendly platforms offered by Deriv. It is a high-tech, yet straightforward trading platform, designed for traders of all levels. The platform offers a seamless experience, with immediate access to over 50 assets, including cryptocurrencies, forex, stock indices, and commodities.

DTrader features two types of trade: options and multipliers. In options trading, you can earn payouts by correctly predicting the asset’s price movements. DTrader offers three different options contract types — Ups & Downs, Highs & Lows, and Digits, providing flexibility in strategy selection.

Multiplier trading is similar to trading with leverage. You can multiply your potential profits without having to own the underlying asset. Importantly, your potential losses are limited to your stake, making it a safer alternative to traditional leverage trading.

Moreover, DTrader provides a variety of risk management features. Before placing a trade, you can view the correlation between your stake and potential payout. Additionally, the platform offers risk management features such as take profit, stop loss, and deal cancellation for multipliers trading.

The platform also includes technical analysis tools, essential for in-depth market analysis. These tools can aid in making more informed and strategic trading decisions. The platform’s layout is well-organized, making it easy for traders to navigate between different functionalities.

Whether you are a beginner starting with a minimum stake or an experienced trader looking to strategize with advanced options, DTrader offers a wide array of features to enhance your trading experience. You can test all its features with a risk-free demo account loaded with 10,000 USD virtual money.

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Cryptocurrency Trading on Deriv

Trading cryptocurrency on Deriv is as straightforward as trading other financial markets. All you need to do is predict whether the price of a cryptocurrency will go up or down. If your prediction is correct, you make a profit.

Cryptocurrencies available for trading on Deriv include some of the most popular ones in the market, such as Bitcoin, Ethereum, and Litecoin. Most of these cryptocurrencies are traded against the US dollar, but you can also trade Bitcoin against Ethereum and Litecoin.

Deriv also offers CFD and multiplier trading on its platforms. In both cases, you do not have to own the actual cryptocurrency to trade. This can be a significant advantage, as it allows traders to profit from the volatility of the cryptocurrency markets without the risk and hassle of owning the actual cryptocurrencies.

Trade Cryptocurrencies with Deriv

To Summarize

In conclusion, Deriv offers a straightforward and flexible approach to cryptocurrency trading. With its range of platforms like DTrader, Deriv caters to all kinds of traders, regardless of their level of experience or trading preferences. Whether you are a beginner in cryptocurrency trading or an experienced trader looking to diversify your portfolio, Deriv might just be the platform for you.

As with any form of trading, it is crucial to do your research and understand the markets you are trading in. If you are new to cryptocurrency trading, take the time to learn about it and practice with a demo account before risking real money.

Remember, while the potential for high returns in cryptocurrency trading can be alluring, it also comes with a high level of risk. Always ensure that you trade responsibly and within your means. With the right approach and the right platform, cryptocurrency trading can be a rewarding venture. So, why not get started today? Sign up for a Deriv account now and begin your trading adventure.

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FAQs about Cryptocurrency trading with Deriv

What is cryptocurrency trading on Deriv?
Cryptocurrency trading on Deriv involves predicting the price movements of crypto assets and making profit if the predictions are correct. You don’t need to buy the actual crypto assets. Instead, you can trade by going long or short using CFDs or multipliers.
What are the platforms offered by Deriv for cryptocurrency trading?
Deriv offers four platforms for cryptocurrency trading: Deriv MT5 (DMT5), Deriv X for CFD trading, and DTrader and Deriv Go for trading with multipliers. The choice of platform depends on personal preference.
How does one start trading cryptocurrencies on Deriv?
To start trading cryptocurrencies on Deriv, you need to create a Financial account, select your preferred pair, set up the required trading parameters, and place your trade. Detailed instructions are provided for setting up trades on DMT5 and Deriv X.
What is a fiat to crypto exchange and why is it relevant to Deriv users?
Fiat to crypto exchanges, also known as fiat onramps, are services that allow traders to purchase cryptocurrency in exchange for fiat currency. This helps in quickly preparing a Deriv crypto account for trading on their platforms. Deriv offers three onramp solutions: Changelly, Banxa, and Xanpool.
How can one buy crypto on Deriv using Changelly?
To buy crypto on Deriv using Changelly, log in to your Deriv account, select “Cashier” and then “Fiat onramp”. Choose Changelly, and you’ll be redirected to their site to make the purchase. Once the transaction is complete, the coins are deposited directly into your Deriv account.
What is DTrader and what does it offer?
DTrader is a trading platform offered by Deriv. It’s designed to be simple and user-friendly, catering to both beginners and experienced traders. DTrader provides the opportunity to trade over 50 assets across forex, stock indices, commodities, cryptocurrencies and synthetic indices.
What are the trade types available on DTrader?
DTrader offers two types of trades – options and multipliers. Options trading allows you to earn payouts by predicting the asset’s price movements. Multipliers trading works similarly to trading with leverage, enabling you to multiply potential profits while limiting potential losses to your stake.
What features does DTrader offer to enhance the trading experience?
DTrader offers a low minimum stake, short contract duration, and risk management features. These include showing the stake and payout correlation before placing the trade, and for multipliers trading, features such as take profit, stop loss, and deal cancellation.