For a long time, trading was only for professionals with a large amount of money to invest, and knowledge of how trading works. With recent technological advancements and the development of leveraged and margin trading techniques, trading is now widely accessible, as anyone with a relatively small initial deposit can trade the markets.
With the ever-increasing amount of time we spend every day on our smartphones, it comes as no surprise that brokers developed mobile trading, so every trader can keep an eye on their portfolio and take advantage of market opportunities on the go. It’s possible to use mobile trading for all kinds of markets, including relatively new markets, like cryptocurrencies.
Beginners in crypto trading do not always know what their options are for trading cryptocurrencies, such as buying cryptos on exchanges, or trading crypto CFDs. They need to know what cryptocurrencies are, how they work to better understand what influences their prices, and how they can take advantage of it.
The cryptocurrency mania
Since the launch of the first cryptocurrency in 2009 – Bitcoin (BTC) – cryptocurrencies have been a fascinating topic. Why are cryptocurrencies so popular? Will they replace fiat currencies one day? Can they be considered a safe haven? Should I buy cryptocurrencies?
Since 2017, when the cryptocurrency markets skyrocketed and Bitcoin went from $1,000 to about $20,000, many crypto-centric financial products have been created: CFDs on cryptocurrencies, Bitcoin futures, and other derivatives, which has strongly increased trading on mobile devices.
How to use your phone to trade cryptocurrencies
With trading being done increasingly on mobile, it’s now possible to invest in cryptocurrencies through online trading platforms or trading apps directly on your phone – all you need is to open an account with an online broker that offers crypto trading. As you will quickly realize, most brokers offer mobile apps to their traders, each with different offerings and options. Therefore, it’s essential to choose the right broker depending on your trading needs and strategy.
Here are a couple of tips to consider when selecting your broker to trade cryptocurrencies. Think first about your trading strategy to determine the trading style you’re going to adopt and what you need to implement your strategy. From among the brokers that offer everything you need, pick a regulated broker that has a strong reputation and advantageous trading conditions.
Finding the right mix of functionality, features, and security is important for your crypto mobile trading, but if you want to take advantage of sophisticated trading environments on mobile, you need to be sure you have a powerful smartphone. Some of the most important factors to consider are the size of your screen, the battery of your smartphone, as well as the processor speed and the storage capacity of your phone.
In the last few years, trading cryptocurrencies has become wildly popular. Mobile trading is important to an increasing number of traders, who need to always be connected to the markets and take advantage of all market opportunities. Crypto mobile trading is an easy and convenient way to find trading opportunities in a very volatile market.