How To Trade Cryptocurrency On BitForex?
Irrespective of whether you are a new or experienced investor, it is essential for you always to pay close attention and consider the security and safety of your investment. Having said that, the platforms that you trade on also plays an essential role in how well your investment performs, which is why this article will focus on cryptocurrency trading on BitForex and how the platform is changing the world of crypto trading today.
What is BitForex?
BitForex is the name given to a reliable and prominent cryptocurrency exchange platform that offers financial services to an estimated 4 million users with the aid of a highly secure and safe network. Their top-notch services are based on convenience, efficiency, and professionalism. The BitForex platform is programmed to easily and efficiently adapt to changes in the crypto industry while offering new futures such as derivatives, margin trading, token trading, amongst various others.
The BitForex platform provides numerous popular cryptocurrencies such as ETH, LTC, BTC, amongst others. Since its creation, the platform has played a significant and vital role in the development and growth of the crypto world, especially in the area of services and innovative solutions like "EazySwap." The platform has users in over 180 countries and supports an estimated 300 crypto pairs and rising with the aid of high liquidity partners that can easily be traded using a stable trading platform.
Trading Cryptocurrency On BitForex
Trading cryptocurrency with BitForex has never been easier as the process is simple and straightforward. The platform ensures that provisions are made for the different kinds of traders. One of the essential considerations or factors for all traders, especially when selecting a crypto exchange, is the "charting interface," which is vital for traders who depend on technical analysis to find an edge that will give them an advantage when trading.
You must be comfortable with the trading interface, especially when choosing a cryptocurrency exchange. It must be convenient as that is where you will spend a lot of time. When you log in to the BitForex exchange platform, the first thing that will get your attention is how simple and well set up the trading platform is.
There are no disturbing menus, only a straightforward and easy to understand trading interface. The trading pairs are listed on the left, and they provide the opportunity for users to switch between the various asset classes. TradingView also provides advanced indicators and trading tools that traders will be able to use to develop their trading edge to minimize risk and maximize profit.
TradingView charts provide a variety of time frames and tools which can be used to add chart patterns and indicators as well as draw trend lines so as to accurately time a trade order by using a market limit or stop order. The BitForex trading platform also consists of advanced trading tools, which are expected of a modern trading cryptocurrency platform, plus it is also one of the most suitable crypto exchange platforms for spot trading of cryptocurrencies and perpetual trading.
Steps On How To Trade On BitForex
As earlier implied, the BitForex platform allows for easy trading of cryptocurrencies. The process involved in trading on BitForex can only be done after you have satisfied some requirements, which include;
Creating an account on BitForex, which you can easily do by going to the BitForex website and registering your account using an email and password before signing up.
1.Verifying your BitForex after signing up by entering the verification code in the email verification code box provided.
2.Ensure that your account is properly funded, after which you can start trading on the BitForex platform
3.Proceed to the Trading page and select the pair you wish to trade
4.Locate and move to the trading page, where you will specify the order price as well as the size.
5.After confirming the order, it will then be visible in the orders tab
6.Once your order has been executed, your funds will instantly be credited to your exchange wallet.
7.The canceled or executed order will move to the order history tab.
Spot Trading On BitForex
When it comes to money trading, one of the most standard and efficient forms of investment to undertake is spot trading. It is one of the easiest ways of purchasing cryptocurrencies like Bitcoin and holding it with the hope that the price value will rise in the future so as to allow you to sell your coin and earn a profit.BitForex is one of the best exchange platforms which would enable you to carry out spot trading. One significant benefit that this platform provides its users is that traders can freely buy or sell any coin against USDT or preferably any token available based on trends or market speculations.
Perpetual Trading On BitForex
Perpetual trading in BitForex takes into account an estimated 70% and of the total volume of cryptocurrency trading or exchange worldwide. Perpetual futures contracts are one of a kind financial derivative which provides the opportunity for an investor to assume and place a bet on the fluctuation of the price of crypto assets
BitForex provides a fast, secure, and stable trading system for users to carry out trade on the Perpetual platform. A futures contract is similar to the Perpetual futures contract as it is a binding agreement among two cryptocurrency traders to exchange a certain digital asset or cryptocurrency at an agreed date and price. Unlike the perpetual futures contract, the futures contract has an expiry date.
Benefits Of Perpetual Trading
1.It is a trading strategy that allows investors to perform a flexible and open digital finance exchange.
2.Perpetual contracts are not limited by time and provide the opportunity for investors to speculate in a hassle-free market
3.Besides funding costs, perpetual contracts have no extra hidden costs.
4.Perpetual trading allows traders to leverage over 100x of a trading transaction, which will enable investors to start and close a trade with a certain percentage of their assets.
5.Perpetual trading is always available unless in situations when the platform is undergoing maintenance, which rarely happens. However, in case of such, traders or investors will be given prior notice.
There is no doubt that BitForex is a legit crypto service platform that provides a transparent and secure marketplace to trade various cryptocurrencies like Bitcoin as well as perpetual futures contracts and Altcoins spot. The platform has performed significantly well in changing the crypto world's common narratives by making sure investors or traders develop more trust in the authenticity of BitForex.
BitForex is an exchange service platform that can be classified as one of the Top 10 cryptocurrency exchange services. It is focused on providing millions of users with a digital currency trading and investment tool that is not only safe but also professional and convenient. BitForex has a high customer-oriented culture and state-of-the-art financial technology.
BitForex is programmed in a way that it can quickly adapt to the changes of the Crypto market while introducing new features like margin trading, enhanced trading charts, derivatives, and a host of others. The headquarter of BitForex is located in Hong Kong, while there are branch offices in countries like the United States, South Korea, and Singapore.