DASH/USD: Trade DASH to US Dollars
DASH/USD is a currency pair where DASH cryptocurrency value is reflected in US Dollars. Namely, this pair shows the current price of 1 DASH token in USD. When creating trading strategies, it is important to analyze the historical data of the asset you trade. You can do this by following the chart, which displays all price changes (DASH/USD in this case).
How does a CFD on DASH work?
Contracts for Difference (CFD) is a financial instrument that allows you to trade on changes in cryptocurrency prices without actually owning the asset. Your trading profitability depends on whether you correctly predict the direction of the market movement and place the appropriate orders.
The principle of trading CFDs on DASH (or other cryptocurrencies) is as follows: in cases when you expect the assets’ price to rise — choose Long position. When you think the market will likely go down — open Short position. If your prediction is correct, you can get the gain.
What options are available for DASH CFD trading?
CEX.IO Broker features all the instruments that help use the potential of the DASH (or other cryptos) price movements to your benefit.
All platform users can trade with margin. You can choose from a wide range of leverage options in accordance with your risk appetites and strategies (from 2 to 100x).
You can also have up to 10 multiple trading accounts with different leverages and account currencies (ETH, BTC, USDT) on each. Leverage can amplify your potential return, but it does not guarantee profit. Higher leverage is associated with greater risks.
On CEX.IO Broker, you don’t need to buy numerous crypto assets to be able to trade them. Having funded your account in ETH (BTC, or USDT - depending on your account currency), you can trade DASH/USD, ZIL/USD, EUR/GBP, or other pairs you prefer.
What can help make trading CFDs on DASH more successful?
In CEX.IO Broker’s arsenal, you’ll find the most popular order types which can help you deploy trading strategies of any complexity. Order types are the essential things to know in cryptocurrency trading.
Different orders are suitable for different trading goals and market situations. For example:
- Market Order - executes your trade instantly at a current market price.
- Limit Order - is suitable when you want to execute a trade at a specific price. Limit order can also fill if the price is better than the one you set.
- Stop Order fits if you want the order to be filled at a certain price only.
- One-Cancels-the-Other Order - is a combination of 2 different orders — Stop and Limit. When one of the orders fills, another one will get canceled automatically.
One of the most important parts of trading is risk management. The cryptocurrency market is very dynamic. The market can suddenly go against you, and you need to know how to manage the risks. CEX.IO Broker offers instruments for that — Stop Loss and Take Profit. When you open a position, you can choose to set Stop Loss to minimize the possible loss and Take Profit to fix your profit at a certain price.
Why trade the DASH/USD pair?
All cryptocurrencies are different, starting from the fact that they work on different blockchains, they are different in use, price, etc. This means that trading principles may vary significantly.
Dash token was launched in January 2014 as a result of Litecoin (LTC) fork. The Dash team created this token with the purpose "to be the most user-friendly and scalable payments-focused cryptocurrency in the world." This drives public interest in the token and increases the demand for it. And, since pairs to US Dollars are most popular in the cryptocurrency market - DASH/USD is the most traded pair with the DASH token.
Before you start trading, it is vital to study the information about the coin. Learn about its use cases, the project’s team in order to plan your strategy with a full understanding of the situation. Paying attention to the chart of the pair that you are going to trade can also help you make informed trading decisions.
CEX.IO Broker: get easy access to margin trading with the competitive fees on the market
All deposits to CEX.IO Broker from CEX.IO are free, so are withdrawals. Moreover, there is 0% commission for deposits of your funds from an external wallet (you may need to pay a blockchain fee though). Also, the platform offers competitive trading fees. Thus, with CEX.IO Broker your trading is flexible and cost-efficient.