Crypto Academy Week 10 - Homework Post for [@kouba01] Season 2: Week2 | Cryptocurrency Contracts For Difference (CFDs) by @oscarcc89
What is a cryptocurrency CFD?
How do I know if cryptocurrency CFDs are right for my trading strategy?
Are CFDs risky financial products?
Do all brokers offer cryptocurrency CFDs?
Explain how you can trade crypto CFDs on one of the brokers.
Below is the registration and operation process:
Step 1: Enter the eToro website: https://www.etoro.com/
Step 2: Click on JOIN NOW
.
Step 3: Fill in the registration fields by entering your USERNAME
, EMAIL
and PASSWORD
.
or if you prefer you can log in with your Google or Facebook account.
Step 4: When you load the system you can see the Dashboard of your account and start trading. On the left side you will see the main menu. By clicking REAL you can switch from a real portfolio to a fictitious virtual portfolio. I will change it to a virtual account to do the operation.
If you continue with a REAL account you can deposit funds by clicking on the blue button at the bottom left DEPOSIT FOUNDS
. A small window will open where you will be asked for the bank details for the payment.
Step 5: Next we click on the 'Filter' icon and select Crypto. All cryptocurrencies available in this CFD will be displayed.
Step 6: Click on the crypto of your choice or the one you want to do the operation on.
Step 7: Click TRADE to begin. Then a window will open where you will be asked for the amount you want to buy. I will invest $5,000.
Step 8: Then you can click CHART and see the chart of the crypto. The investment you made is also shown, if it is in red losses and if it is in green gains.
In this way we finalize our demonstration of a Trade operation on eToro. I really liked its user interface, simple and efficient, I think it is one of the main advantages.
Conclution
There are many brokers, but each user or investor chooses the one that best serves them, positioning themselves according to their own investor profile, their objective, how they want to invest and under which regulations they want to be.
Investments must be taken with care because they are talking about money, they must be serious due to variable income, as you can win, you are also exposed to lose.
Thanks for joining me in this trade!
Hello @oscarcc89,
Thank you for participating in the 2nd Week Crypto Course in its second season and for your efforts to complete the suggested tasks, you deserve a 5/10 rating, according to the following scale:
My review :
The answers to the three questions were not clear and direct, you may not fully understand the statements. Try to analyze your thoughts further so that the purpose of your essay becomes clear. But it is still generally acceptable work.
Thanks again for your effort, and we look forward to reading your next work.
Sincerely,@kouba01
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