How to Trade Both Crypto and Forex At the Same Time
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Cryptocurrency trading is often seen as the opposite of more traditional trading options, and people consider them mutually exclusive, opting for either one or the other. Traditional investors whose opinions are admired in the community are often to blame for this because they don’t believe in cryptocurrencies. But if you’ve done your research and would rather not choose between the two, it turns out that you don’t have to.
When we mention more traditional options, in this case, we specifically mean forex trading. The name is a portmanteau of foreign currency and exchange, ie. the process of changing one currency into another. Not unlike cryptocurrency trading, it’s often done for profit, to take advantage of a currency’s volatility or to diversify a portfolio. According to the Bank of International Settlements, the daily average forex trading volume is more than USD 5.1 trillion. For comparison, according to Bitcoin Trade Volume by Bitwise, Bitcoin’s 24-hour volume is around USD 703 million. This means that the forex market is immeasurably larger than the crypto market.
So if you’re looking to take advantage of both — one for its size and relative stability, the other for the profit potential — you may be interested in finding a platform that offers both options at the same time. Luckily, Bitcoin Code offers both, with the added benefit of bot trading if you don’t have the time to do it manually, or even if you’re a newcomer and don’t want to learn all the ins and outs.
Through Bitcoin Code, you’ll be able to trade cryptocurrencies that include Bitcoin, Ethereum, Monero, Bitcoin Cash, Litecoin, Dash, and Ripple with more to come, but also the US dollar (USD), euro (EUR), and Swiss franc (CHF) as part of its forex section. All you have to do is select the automated trading option, enter your trading parameters (or leave them at their default settings if you want) and step back. The platform also offers manual trading, still generating profitable trading signals but leaving the final call up to you.
Other benefits of using this platform include a complete lack of fees, charges, and commissions, as well as web-based software that is accessible both from a computer and a mobile phone. This means you can check your status whenever you want to, knowing that there are no hidden charges waiting for you. You will, however, have to submit relevant identification to comply with AML and KYC policies — but at this point, this is a given when registering on any legitimate exchange or trading site. You can also use your cards, be they debit or credit, to deposit and withdraw funds, and the latter takes around 24 hours after submitting the request form for the money to appear in your account.
If you’re still unsure, you can register and try the platform’s demo account so you know what you’re getting into. That way, the final call is yours — will Bitcoin Code be your place to go for both cryptocurrency and forex trading?
Warning: This is a sponsored article that does not necessarily reflect the opinion of Cryptonews and that does not constitute investment advice or trading instructions. Cryptonews does not accept any responsibility for any trading or investment-related losses incurred by its visitors.