How to Trade Stocks with Crypto

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The ability to trade assets with crypto increases the usefulness of your crypto. Instead of liquidating cryptocurrencies exclusively in fiat, you have the freedom to diversify your portfolio. There are also times when the crypto market may not be as active. You may find that at some point it is better to invest in certain stock indices than in cryptocurrencies.

You would have a lot of flexibility if you could convert your crypto assets into stock indices. In this case, PrimeXBT offers this flexibility. The platform's versatility, reliability in terms of volatility, liquidity and immediate order execution has earned the platform several awards.

What is PrimeXBT?

PrimeXBT is a multi-currency trading platform that allows you to deposit Bitcoin as security for trading. You can also use your crypto to buy over 50 assets including stock indices like NASDAQ, SP500, DOWJ, GER30, UK100, HK-HSI, and the list goes on. PrimeXBT allows you to use cryptocurrencies to diversify your portfolio and hedge against risk. Holding crypto and stocks is a form of risk management. The more diverse your portfolio, the more likely it is that an asset will not affect your overall investments.

And what if you see a good trade and wish you could exchange your crypto for that hot stock index right away? PrimeXBT could be your answer.

Registration with PrimeXBT

Registering with PrimeXBT is a simple process. There are hardly any know-your-customer (KYC) loops to go through to start trading. All you need to do is enter your email address, password and phone number (optional) and your account is set up. No need to enter any additional private information like your bank account or passport information, which makes the sign-up process private, quick and easy.

Deposit of funds

After your account is set up, you can deposit bitcoin from an external wallet by clicking the main area above. Then click the Deposit button. Different sections are displayed, one of which is Bitcoin (BTC). You can copy and paste your PrimeXBT wallet address into the destination area on the website or the wallet service you are sending money from. You can also use the QR code provided by PrimeXBT. Only deposit Bitcoin to this address. If you deposit something else, you could lose your money.

You can also deposit Ethereum (ETH), Tether (USDT) and USD Coin (USDC) using the same instructions as above. Note that like in the Bitcoin example, you also need to make sure that you are sending the correct currency to the correct address, otherwise you could lose your money.

Another way to add funds to your account is to press Main, click Deposit at the top, click Buy Bitcoin, select the platform you want, and then buy Bitcoin. If you choose this option, you will need to view more private information like ID and social security number.

Stock trading with crypto

After depositing the amount you want to trade, go to the page where you can find the market charts and click on Trade. Here you can trade a wide variety of assets such as cryptos, currency markets, and stock indices. What you can trade is on the left of your screen.

Click on the index you have selected to trade stock indices with the crypto you have deposited. A diagram is displayed accordingly. You will see a sell and buy button above the trading chart.

The Sell button indicates that you plan to sell short in the market. This means that you borrow the asset at the current price and predict that the price will go down. Then you will later sell the position in the hopes that the price will fall. You borrow at a higher price, buy back the assets at a lower price, return the assets you borrowed, and take the profits with you.

You can also click Buy, which means you are making long trades. They predict that the price will rise from the current price and have a higher value later on down the road.

After clicking Buy or Sell, you can choose what type of order you want for the inventory you have selected. These orders are as follows:

Market - market order type means that the order is placed at the market price that is immediately available.

Limit - you are the one who sets the price. This price is the limit of what you want to buy or sell. The market may or may not achieve this attitude.

Stop - This indicates when you want to buy or sell an asset once it has reached your specified price. This quoted price is your market order.

OCO - This allows you to place two orders under certain conditions. As soon as one of the orders has been triggered and completed, the other will be canceled immediately.

For any of these options, you can set up a stop loss and take profits. A stop loss protects the long positions by selling at a price you choose.

Trading functions

The amount indicates how much of the asset you want to receive. In the example above, you are purchasing 1 order of SP500.

Assess your risk and do not risk more money than you are ready to lose. Setting a stop loss will help you manage your risk and give clearer strategies for when to exit. In the example above, you can see that the stop loss has been set at a specific SP500 price. You can also see the projected losses in BTC above if you want to automatically close the position at that price. You will also find that once the index hits a certain price, you can take profits.

This way, you can also mitigate losses and take profits without being glued to your computer screen all day.

To manually close your position, find the plus sign above, create the Positions tab, right click on the position you have, then close it. You have completed the trade and consolidated the profits and losses.

At least you only need 0.001 BTC, so getting started with PrimeXBT is easy and inexpensive. You can start right away, even as a beginner.

PrimeXBT also has advanced tools for experienced traders such as: For example, chart software that lets you draw patterns, draw trend lines, measure the support and resistance of an asset, use Fibonacci retracements, write your own text on the chart, and much more. There are also customizable widgets that allow you to customize the platform however you want, such as: B. by changing the size and position of sections.

Once you have completed your trades, your funds will be held in the PrimeXBT cold store, which you can withdraw once a day. This option seems limited as it is only done once a day. However, PrimeXBTs is especially safe when it comes to keeping your funds safe.

fees

Another reason to use PrimeXBT is the low fees for trading stock indices. The usual fee you will find is 0.01% fees. A table of fees can be found on the PrimeXBT website.

Close thoughts

Overall, if you want to use your crypto for stock indices, the PrimeXBT platform gives you the opportunity to diversify your well-deserved crypto with other assets. The award-winning platform is deserved for its ease of use and diverse markets. And if you see potential in markets other than crypto, like stock indices and forex trading, you can pan your crypto funds quickly with PrimeXBT.

PrimeXBT has prepared a special offer for its new customers: You will receive 50% of your first deposit credited to your account as a bonus, which can be used as additional security for opening positions!

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