Some time ago we provided information about the possibility of trading on the bitcoin exchange. But many people have a question about how beneficial this option of trading is. Back in December 2017, the price change on the crypt currency was 64%, as evidenced by statistics. At the same time, earnings on options can reach 80% of the invested investment. You can start working on the platform with a minimum investment.
In this article we will analyze how to trade the crypt-currency on options efficiently and competently. As an example, we will use the trading platform Olymp Trade. Why this platform? Everything is simple – this is where stable payments are always made, there is a simple training program, fast registration and high-quality technical support. Also Olymp Trade is certified by the International Financial Commission (FinaCom) and is its category A participant.
Simple registration on the site Olymp Trade
For quality and productive work at any site always need registration. On this platform you additionally need to pass verification and confirmation of your account via e-mail. At registration phone number, e-mail and an electronic purse on which money will be withdrawn is specified. After the registration, you need to log in to your personal cabinet, read the working conditions, rules and instructions, and only then read to work on the platform.
We replenish the deposit to our account
Once you have logged in, you will have access to a demo account, where you can open trades without risk or making money. In order to start earning, you should deposit money into your deposit account. Now we will find out how to make a correct deposit to your account in Olymp Trade. To make a deposit, you need to click “Deposit” on the website on the right at the top. Then you get to your personal cabinet and choose the payment system you need. The options of payment systems are shown in the picture below.
The minimum deposit of money for Olymp Trade is only 10 dollars. When crediting funds to a trader’s account, no commission is charged, which is very beneficial for the participants themselves. Money is credited to the account immediately, after the deposit you can choose bitcoin to trade as a main asset in your personal cabinet and start working.
We start working with options
To select a bitcoin as an asset for trading, you need to select the currency in the asset list. If there is no bitcoin, you should press “+” in the left corner to add
of currency options. In the list that opens, you can select a bitcoin from the available currency and add it to your asset. Then a chart of quotes of the crypt currency will be opened as well.
Among the drawbacks in BTCUSD trading in the pair on Olymp Trade, one can note a too bouncing yield. Basically, the earnings on the platform are up to 80% of the deposit, while in some cases the yield drops to 15 – 20%, which has a great impact on the profit of traders.
We were interested in this issue and we applied to the technical support of the platform. Here we were answered that the company’s task is to regulate the profitability, while the amount of cash payments depends entirely on market conditions. Thus, at these moments it is better to stop trading, to avoid large losses. But only you make a decision whether to work with these assets or not.
And we will consider the functionality of the platform in more detail:
- The expiry time is one day.
- The presence of 10 built-in indicators on the platform. Ishimoku Cloud, Moving Averages, Bollinger Waves.
- Above the chart there is a button to open an additional window for technical analysis.
- The minimum investment per trade is 1 dollar.
- The “hot keys” allow you to set certain combinations for convenient work on site.
- Different variants of charts – line, candlesticks or Heikin Asha.
Is it profitable to work with the crypt currency?
In this article we have figured out how to start trading bitcoin on Olymp Trade. We also figured out whether to register, make a deposit and get acquainted with the online platform in detail. We saw only one drawback in bitcoin trading – sharp ups and downs in options. Otherwise, the OlympTrade platform has a lot of advantages to work with and our recommendations will be only positive for the start and development at OlympTrade.