BCH/USD: Trade Bitcoin Cash to US Dollar
A currency pair is the quotation of two different currencies, with the value of one currency being quoted against the other. BCH/USD (Bitcoin Cash to US Dollar) is a currency pair, where Bitcoin Cash is a base currency, and US Dollar - quote currency. This ratio reflects the price of 1 BCH in USD. You can track all the BCH price changes on the BCH/USD pair chart.
How to profit from trading CFDs on Bitcoin Cash?
The cryptocurrency market is very dynamic, meaning cryptocurrency prices are constantly going up and down literally every second. CEX.IO Broker platform is built in such a way that you trade on the basis of Contracts for Difference (CFDs). CFD gives every platform's user an opportunity to earn both on an upward and downward trend. You need to open Long positions if you expect the market to go up, and Short - if you think that the price of BCH will fall. Most traders apply technical analysis to CFD trading to identify certain patterns and make trading decisions accordingly.
How does a CFD on BCH (Bitcoin Cash) work?
Before making your first trading operations you need to understand that CFD works differently than spot trading. Here, the profit depends on whether or not you correctly predict the price movements. When you trade CFDs on Bitcoin Cash, you don’t need to buy this coin. Instead, you open positions according to the direction you anticipate the price of the coin will go. If you expect that the price will jump, for example, you open a Long position. And when that actually happens, you are in profit.
What options are available for BCH CFD trading on CEX.IO Broker?
One of the key points of trading on CEX.IO Broker is that you can apply leverage to any pair you trade. Trading operations with borrowed money can significantly enlarge your potential profit, depending on leverage you use. At the same time, you also need to remember that using leverage is associated with certain risks. So, estimate your risk appetite and choose leverage accordingly.
What can help make trading CFDs on Bitcoin Cash more successful?
Cross and isolated margin are among important things to consider while trading BCH/USD. Cross margin applies to the operations within one account. That means, the account balance and the profit from one position on this account can be used to satisfy the margin requirements of another position. Transactions between different trading accounts have isolated margin. I.e. financial results of one trading account do not affect financial results or margin of the other. This allows you to test different strategies on different accounts and evaluate their efficiency.
How do I start trading Bitcoin Cash with leverage?
It takes just a few steps to start trading with leverage:
1.Register (or log in using your CEX.IO login and password).
2.Create a trading account by selecting the suitable currency to fund trading with (BTC, ETH, or USDT) and desired leverage.
3.Fund your account and start trading.
Why trade the BCH/USD pair?
Bitcoin Cash (BCH) is a hard fork of the original Bitcoin blockchain. The Bitcoin fork took place on the 1st August 2017 with the aim of updating the block size to 8 MB. Do not confuse the BTC and BCH cryptocurrencies, it is important to understand that Bitcoin (BTC) and Bitcoin Cash (BCH) are different assets. The increased block size of Bitcoin Cash is needed to make the technology more scalable and process more transactions per second. Bitcoin Cash transaction fees are usually lower than Bitcoin, which is also a significant plus. This is one of the reasons why BCH is so popular among the crypto community. Hence, trading this cryptocurrency is supported by the interest of a wide audience, which provides potential for profitable trading.
Some more reasons to try CFD trading on CEX.IO Broker
CEX.IO Broker, is a platform designed to fit the needs of any market participant — from beginners to professional traders. Using our services you can execute a big variety of different, highly customized, trading strategies.
Because of the aggregated liquidity on the platform - your orders are executed on the popular spot market platforms. This allows CEX.IO Broker to successfully execute both small and large orders timely and at the price that reflects the available liquidity in the largest cryptocurrency exchanges.
With our services and your knowledge and market analysis, we strive to take your trading to a new level.