Business Fortune Insights states that the world’s crypto transaction market is worth about $1.33 trillion. And it will keep growing till at least 2028 by more than 30% each year. Analysts claim this is due to the numerous advantages of cryptocurrency use. With global political processes causing volatility of the popular fiat currencies and affecting Forex traders, a crypto trading account becomes the best deal-making option.
Let’s outline the key points you need to take cognizance of to pick a credible brokerage website to create your profile and start making cryptocurrency deals.
Choose a Trustworthy Crypto Broker
Here is what cryptocurrency profiles suggested by reliable Forex intermediaries have to offer:
- 100 and more positions to create;
- low spreads (from 1 pip);
- 1:5 and or higher leverages;
- minimum deposits from $1;
- numerous trading instruments (coin-fiat, coin-metal, etc.).
With a good crypto profile, you can make deals in popular cryptocurrencies like BTC, LTC, and XPR.
Create a Crypto Trading Account
To register a new crypto trading account, fill out a specific registration form. As a standard, you will be required to specify the following information:
- personal details and contacts;
- trading conditions (account currency, leverage, etc.);
- country of residence;
- secure passcode.
You need to pick a suitable trading platform (MT4, MT5, etc.) Trustworthy brokerage sites often offer their own terminals. For example, the clients of FBS.Com can use their FBS Trader. In addition, all reliable platforms (including FBS.Com) provide enhanced interaction with a Forex intermediary.
Decide on the Type of the Crypto Account
There are two types of crypto trading profiles you can choose from: demo and real.
Demo profiles are like a safe wading pool. Use them to safely test the waters of the specific trading conditions offered by your broker of choice. Here is what you can do in your demo account with zero risk of losing any money:
- try all the popular trading strategies to decide which one is the best for your needs and style;
- get a good taste of the market research tools;
- develop and test-drive your own trading tactics.
According to expert traders, using demo crypto profiles for too long can be dangerous. People tend to lose their sense of real trading due to the unlimited amount of funds available to make deals on a demo account.
Real profiles are where you make real money. Start using the real trading profile as soon as possible.
Verify the Crypto Account
For successful crypto account verification, you need to upload a scan of your ID card or passport. Personal details in the identity document must match the info you have specified when creating a profile. In this way, trusted brokers prevent scams so traders can clinch a deal without any worries.
After your profile is verified, you will be able to make replenishments, trade, and withdraw the money you have gained.
According to experts, the only way to get significant profits is via cooperation with reputable brokerage sites like FBS. Trusted brokers offer beneficial co-working terms and never delay withdrawals, trick traders, or charge excessively high commissions. Register your profile with one of them and start real trading once you have tested all the necessary features. For further details on this topic, check out the thematic blogs on crypto trading, e.g., FBS.com.