ZRX/USD: Trade 0x to US Dollars
In ZRX/USD pair - 0x is a base cryptocurrency, which price is quoted against US Dollars. Namely, ZRX to USD ratio shows the price of 1 0x token in US Dollars. The current cost of the asset, as well as the history of its changes, is reflected on the pair's chart. Traders pay lots of attention to study charts when thinking over new strategies and trading goals.
How does a CFD on ZRX work?
Contracts for Difference (CFDs) is a way of trading on cryptocurrency price changes without owning the trading asset. Thus, CFDs make it possible to trade more assets than you actually own, and it increases the potential return of your trading. The possible profit of such trading depends on how correctly you predict the upcoming market movements and place the corresponding positions.
CFDs have the same working principle for any assets (including ZRX): Long positions are suitable for situations when you expect the assets’ price to rise, Short - when you deem that the market will more likely head down. If the prediction was true - the position becomes profitable.
What options are available for CFD trading in pairs with 0x?
CEX.IO Broker has numerous options that can help you use the potential of the cryptocurrency price movements. The thing is that CFD allows profiting both on the falling and rising market phases.
On CEX.IO Broker platform, all the users can trade with margin. Margin trading implies working with borrowed funds to enlarge your trading capital. You can choose from 2 to 100x leverage sizes according to your needs and risk assessments. But leverage is not a guarantee of profit - there are chances to earn, and risks of losing money.
Another distinctive feature of CEX.IO Broker is the ability to open 10 different multi currency accounts for trading. Moreover, you can apply different leverages and account currencies on each. Thus, you can simultaneously be the owner of an ETH-based trading account with a leverage of 25x, and an account in BTC with the leverage of 100x. This will help to isolate both profits and risks.
The other thing is that when using CEX.IO Broker, you don’t have to buy numerous crypto assets to trade them. Having your account in BTC, ETH or USDT you can trade all cryptocurrencies listed on the platform. Thus, you can trade more cryptos than you have.
What can help make trading CFDs on ZRX more successful?
СEX.IO Broker users can deploy trading strategies of any complexity with help of the most popular order types on the market. Different orders fit different market situations because each order has its own working principle.
You can choose from Market, Limit, Stop, One-Cancels-the-Other orders to execute your trades. Also, there are two special protective orders for risk management - Stop Loss and Take Profit. Every other second market can change its direction, so managing the risks is an important thing to do. Stop Loss is used to minimize the possible losses and Take Profit — to fix your profit at a certain price.
Why trade the ZRX/USD pair?
All cryptocurrencies are different in many aspects, which means that trading principles may also vary significantly.
ZRX is a utility token that powers the 0x protocol. 0x (ZRX) conforms to the ERC20 token standard and can be stored in any ERC20-compatible Ethereum wallet. And since 0x is built on the Ethereum blockchain, it is protected from attacks by the combined efforts of the Ethereum array of miners and the network of nodes.
Utility tokens are the tokens that allow future access to a company's product or services. The defining characteristic of these tokens is that they are not entirely intended for investment, but that does not mean that you cannot earn with them. Of course, it is difficult to compare the price of ZRX with the value of the Bitcoin cryptocurrency. But, nevertheless, the token is quite popular on the market.
CEX.IO Broker: a combination of the most popular markets for trading
Cryptocurrency market is very popular. From the moment of its appearance and until now, cryptocurrencies have made a revolution in the world of finance, but this is not the only financial market that has a mass of followers. For example, the forex market, metals or the stocks of world’s companies also have tremendous demand. So why limit yourself and choose only one thing? All these markets are represented on CEX.IO Broker. You can trade contracts for difference on traditional currencies, metals and stocks while remaining in crypto.