Cryptocurrency trading is an innovative, fast-paced, and relatively easy-to-understand way to turn a profit. However, to make sure you are getting the lowest fees and the best terms, it’s best to carefully scrutinize crypto trading platforms before signing up for an account. Today, we’re going to take a look at AvaTrade; we’ll provide you with the information necessary so you can determine whether it’s the right platform for you.
What Is AvaTrade?
AvaTrade is a digitized platform that gives international brokerages and investors the chance to trade without need for third-party interference. It has a great reputation within the trading industry, and you can even sign up for an AvaTrade demo account before depositing any of your own money. For more information, check out our comprehensive AvaTrade Forex review! In today’s AvaTrade broker review, however, we will be looking at the platform’s cryptocurrency solutions.
Trading vs. Investing: What to Choose?
Keep in mind that AvaTrade offers a way to trade cryptocurrency, rather than a way to invest in cryptoassets. However, we believe that trading is the superior option, and here’s why.
|Opening a trading account with AvaTrade is a fast process||Creating investment accounts on other sites is time-consuming|
|When trading on AvaTrade, your position is immediately opened||An attribution panel needs to confirm your position|
|Crypto trading lets you potentially make a profit on a negative trend||A profit can only occur when there is a positive trend|
|There is no risk of theft or hacking when you trade cryptocurrencies on AvaTrade||There is always the chance that your wallet could be stolen or hacked|
|When trading cryptocurrencies with AvaTrade, you don’t have to pay a crypto-purchase commission||There is an extra commission to pay|
Advantages of Trading Crypto with AvaTrade
AvaTrade’s CFDs for cryptocurrency offer excellent benefits that other exchanges don’t have. Some of these include:
- Short Selling. This is where you can keep trading when the markets are falling, thus making a profit on price decreases.
- Leveraged Trading. This is where you can borrow funds from the exchange and trade big positions with small investments. AvaTrade offers leverage for cryptocurrency positions of up to 20:1.
- Auto Trading. AvaTrade is compatible with Zulutrade, which lets you copy experience traders. You can also use the AvaSocial tool for social trading or, if you prefer, use pre-programmed AI trading bots.
- Free transactions. No Avatrade fees for withdrawals or deposits.
On top of these benefits, you can also enjoy 24/7 trading, an easy AvaTrade registration process, and competitive spreads.
The 3 Best Alternatives for Bitcoin
Bitcoin may be dominating the cryptocurrency market, but that doesn’t mean that you should ignore the alternatives. Other crypto spinoffs (or “altcoins”) are well worth investing in and trading. Here are a few of the other top forms of cryptocurrency.
Ethereum (ETH) was launched back in 2015 and has quickly become the second most popular kind of cryptocurrency. Ethereum’s platform lets other distributed apps run using it, plus smart contract apps and other tokens can run on the platform as well. Think of ETH as being blockchain Internet rather than blockchain money. And Ether is the coin that makes transactions possible on ETH’s platform.
Litecoin (LTC) was one of the very first Bitcoin spinoffs, and it was created to be a faster alternative to BTC. It has a speedier block generation – thus ensuring quicker transaction confirmations. In 2017, LTC was the first cryptocurrency to use the Lightning Network, which let transactions be completed in less than one second.
Ripple (XRP) was created to allow low-cost, immediate cash transfers across the globe. It differs from Bitcoin in that all Ripple coins were released simultaneously, so there is no need for mining. XRP is currently the crypto coin of choice for many banks and financial organizations.
How to Get Started Trading Crypto with AvaTrade
Trading cryptocurrencies with AvaTrade is fairly simple to set up.
- Create a trading account on the AvaTrade website.
- Make your first deposit, and then choose the amount of your deposit that you’d like to invest.
- Pick which cryptocurrency you’d like to trade.
- Pick whether you want to go long (buy) or go short (sell). After confirming that, you are good to go!
We wanted to cover one more thing about AvaTrade: the registration process. It’s super simple!
- Head to AvaTrade’s home page and select the orange “Register Now” button.
- Input an email address, phone number and full name.
- Click the blue “Create Account” button.
- A registration form will pop up; fill out the form answering the required questions and the form with your personal info. Click “Next step” button.
- Then fill out the form with information concerning your income and the objective of creating an account on AvaTrade.
- Verify your identity and a legal address. Verification involves uploading ID documents, but the process is fairly simple.
After registration and verification are complete, you can fund your account. Don’t forget to check out AvaTrade’s Trading Education section to learn more useful tips on trading cryptocurrency!
So, if you are ready to take advantage of AvaTrade’s 24/7 trading capabilities, social trading bots, competitive spreads, and high crypto leverage, sign up for an account today.