There are many Forex brokers that offer cryptocurrency trading, but few are as comprehensive as the 24option crypto currency offerings. 24option prides itself on its wide asset offerings, and its cryptocurrency offerings are no different. The brokerage offers CFD trading for the five top cryptocurrencies, including bitcoin, bitcoin cash, litecoin and Ethereum.
24option offers traders educational resources for trading CFDs and the strategies are valid for trading cryptocurrency CFDs as well as others. Among the recommendations the broker makes is to focus on a limited number of markets so as to sharpen your trading strategy and make sure it’s both profitable and relevant to the CFD (or, in this case, the cryptocurrency CFD) you wish to trade. Practice your trading strategy consistently on the same assets, and hopefully you’ll see the desired results.
Another suggestion made by 24option which is relevant both to bitcoin trading and trading of other digital currencies is to create a solid trading plan before getting started. Though many cryptocurrency traders are eager to jump on the bandwagon without an actual trading plan because they ‘have a feeling’ that the market is going to go up or down, or are sharing in the crypto craze that is taking the world by storm. However, this type of overzealous action can be extremely dangerous, especially as cryptocurrencies tend to fluctuate wildly, even without specific market triggers. Taking time to make a strategy-based trading plan will ensure that you don’t trade emotionally, but make intelligent, thoughtful decisions that will bring long-term profits.
The minimum deposit for 24option bitcoin trading is $250, and the minimum withdrawal amount is $10. Deposits can be made in USD, GBP, JPY, EUR and RUB. Your trading currency cannot be change once it is set, so choose your deposit currency carefully. Some traders have noted that only one withdrawal can be made per month with 24option (bitcoin trading and regular trading), so consider this limitation when making your withdrawal. However, we don’t see this as a serious drawback, as 24option is a regulated brokerage that offers reliable cryptocurrency trading.
Review info: 24Option
Review Date: 2017-12-27
Rating : 4.5
Reviewed By : Sara Patterson (Google+)