Why You Should Start Bitcoin Cash Trading

Why You Should Start Bitcoin Cash Trading

What is Bitcoin Cash Trading?

Bitcoin Cash trading is a great and popular way to make a small profit these days. Bitcoin Cash is the new currency which came out after the Bitcoin fork. Although the fork in Bitcoin was anticipated, investors were surprised that Bitcoin Cash was able to do as well as some of the best cryptocurrencies in the market. So, why was Bitcoin Cash created? The Bitcoin community was debating over the possibilities of making Bitcoin function at the same speed with the increasing amount of people interested in Bitcoin. Although the debate was much more technical, the general idea behind the debate was that Bitcoin needed to cope with the increasing number of people using Bitcoin.

Usually, when a new coin comes out, there’s a huge price spike. But then the value pretty much drops to 0. Bitcoin Cash has been debated, many speculators said that the coin would crash, but it has been like a normal coin in the past few days. This goes to show that there’s at least some community backing Bitcoin Cash and I think that the price will go through the roof in the next few years. However, we’re not sure of that and thus we recommend Bitcoin Cash trading.

What’s the best strategy for Bitcoin Cash Trading?

Bitcoin Cash is much like other currencies, it’s pretty volatile and thus we recommend Bitcoin Cash Trading. One of the best strategies to follow in a volatile market is swing trading. When the price of an asset is increasing over time, there might be small swings or dips. Usually, these swings or dips recover quite quickly and the price of the asset continues to rise after. Swing strategy refers to buying the asset at the bottom of one of these small dips, and to sell them immediately after. These swings and dips mostly do not usually result in a reversal but might result in a reversal. Thus, you need to make sure you back your trade up with research. Since the crypto market is very volatile, we also suggest hedging. Hedging in refers to opening two positions in the market.

If you were to make a profit on one trade, you’d make a loss on the other. For example, you go long and short on the same asset, which would technically nullify any losses or profits. This tactic rather than strategy is very important in volatile times to protect your capital.

 

What’s the best platform for Bitcoin Cash Trading?

Plus500 is the world’s best CFD trading platform. As a broker, the Plus500 platform offers very tight spreads which can help to make profits. Spreads are basically the minimum that a market must rise in order to derive a profit. Plus500 has an average spread of 0.8. Since these spreads are very low, it is much more likely that you can make a profit rather than make a loss. However, the platform currently has no real-world market access, which means you won’t actually own a bitcoin, you’ll be betting on the possibility that the price rises. The new website is intuitive and easy to use. Plus500 is one of the few companies that provides an Apple Watch app as well as iOS and Android.

For brokers who want to reduce their risk, Plus500 provides a plethora of risk-management tools such as guaranteed stop loss, guaranteed limit order, price alerts and trailing stops. Overall, it’s a versatile and comprehensive broker which can help your Bitcoin Cash Trading.

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About Article Author

Michael Serrano
Michael Serrano

Michael is an engineer and a bitcoin evangelist. He has been involved in cryptocurrencies since 2013. His biggest wish? 1 billion users of bitcoin, ether and litecoin by 2020. In the last 10 years he has worked for various early-stage start-up as a back-end developer.

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