The recent crypto-boom has made cryptocurrencies a popular investment opportunity, as demonstrated by the hundreds of million of dollars raised through ICOs and the millions more that are traded on a daily basis.
But investing in cryptocurrencies comes with its risks. While the underlying blockchain technology is secure and transparent, the cryptocurrencies themselves can be highly volatile. Moreover, due to their nature as a completely open source and decentralized network, any one of the thousands of cryptocurrencies could theoretically be affected by some type of attack or malfunction.
Why bityx ?
When it comes to investing in cryptocurrencies, many people are faced with a dilemma. On the one hand, the convenience of cryptocurrencies makes them a popular choice among day traders and speculators. On the other hand, the fear of missing out drives many first-time investors to purchase coins that are currently in demand, often leading to substantial increases in value which, in turn, leads to greater appreciation and, eventually, to capital loss.
What if there was a way to leverage the popularity of cryptocurrencies while guaranteeing profits and minimizing risk?
That question was answered by BitYox, the premier cryptocurrency trading platform.
BitYox was founded in early 2018 and is one of the earliest entrants into the crypto-trading market. What sets BitYox apart from other platforms is the unique approach it takes to combining the benefits of cryptocurrencies with traditional investment vehicles.
In addition to serving as a cryptocurrency exchange, BitYox also offers CFDs (Contracts For Differences) on popular cryptocurrencies. A CFD gives day traders and other experienced investors the ability to enter into a contractual agreement with a third party that specifies a predetermined purchasing price on a specified date in the future. CFDs come with a number of advantages, including the ability to short sell, leverage, and take the position of both a buyer and a seller, providing protection from price swings.
By combining the simplicity, security, and speed of cryptocurrency with the investment tools available on more traditional stock exchanges, BitYox has truly revolutionized the way people will look at investing in cryptocurrencies.
How Does It Work?
When you register on the BitYox website, you will be taken to a simple dashboard that is packed with all the features you could want or need. From here, you can access all the tools you need to begin investing in cryptocurrency, including the ability to follow popular markets, monitor your portfolio, and download your holdings in bulk. For those interested in short-term profits, you can set up expert tools that can monitor the performance of up to six cryptocurrencies at once and allows you to place orders quickly and accurately. Long-term investors may find the site's traditional brokerage feature useful, as it provides a simple and convenient way to track the prices of popular coins and watchlists of cryptocurrencies to determine where your money is currently worth the most.
After creating an account, you will be asked to choose a secure password and select a username. Next, you will be taken to your dashboard, which will show you the current prices of the most popular cryptocurrencies along with a variety of helpful metrics that will help you understand the trends and movements of the market. On the right-hand side of the page, you will see five tabs which you can click to access the tools that make BitYox so useful and innovative.
Solid Investment
Launching the tools menu will take you to a drop-down menu that contains dozens of coins to choose from. Once you've made your selection, the platform will show you the relevant historical data for that asset.
From here, you can begin to create orders that will automatically engage the order-matching engine. To use the site's automated algorithm to your advantage, all you need to do is enter the coins you want to trade and set the number of coins you're willing to buy or sell. The site will quickly match your order with other traders, who may be offering the same coin at the same time, and place the orders for you. The orders are then processed by the order-matching engine and your cryptocurrency is transferred to your wallet.
To minimize your risk, you can use stop-loss orders to limit the amount of your cryptocurrency that can be lost in the case of a market dip. Set a stop-loss order to sell a coin at a certain price, and the order will be executed once the price reaches that level. Should the price drop significantly below your set point, you will lose money. However, you can modify or cancel the order at any time prior to the contract's expiration date.
Dollar Cost Averaging
One of the most unique instruments available to BitYox investors is called dollar cost averaging. With this feature, you can set up a regular investment schedule which will automatically buy coins or other cryptocurrency at the current market price. To use this feature, simply select the coin you want to purchase, choose the amount you're looking to invest, and set the transaction frequency. From here, you can click to see the status of your orders or click the My Portfolio button to see your current portfolio of cryptocurrencies. When you reach a certain dollar amount in your account, you will be able to contact customer care to have your account enhanced with a debit card which you can use to make quick purchases at stores that accept cryptocurrency.
Profiting From The Volatility
One of the most exciting aspects of BitYox is the way it leverages the security and transparency of cryptocurrencies with the convenience and efficiency of traditional investing. Due to the nature of cryptocurrencies, many people become interested when the price of a coin goes up. As a result, many people are inclined to purchase coins at these times, whether they're new to the market or whether they're simply trying to get in on the profits.
Because of this, when you begin to trade on the platform, you will notice that prices are generally higher than they should be. While this might not seem ideal for those hoping to simply buy and sell coins cost-effectively, it does mean that you have the opportunity to buy low and sell high. One of the unique advantages of this approach is that you will never run out of buying opportunities. Even during the most popular cryptocurrency boom and bust cycles, there will always be cheaper coins to be had if you're looking to buy.
Moreover, BitYox gives its clients the freedom to participate in the booming cryptocurrency market without having to worry about keeping up with the latest news articles or staying abreast of the ever-changing regulatory environments that govern cryptocurrencies. On the contrary, with automatic order placement and intelligent order management, it's easy for even the least technologically-inclined users to gain confidence and participate in the market confidently and successfully.
Risk Mitigation
While some might see the convenience of cryptocurrencies as a positive development in and of itself, there are many who see it as a risky opportunity. When you consider the fact that the price of some cryptocurrencies can increase by 20 or 30% in a matter of days, it's easy to understand why many people are wary of getting involved in the market. As a result, many people will try to use safe-havens to minimize their risks. For example, during a bear market, someone seeking to minimize risk might choose to short sell bitcoin against the USD, meaning they will buy bitcoin from those who want to sell it and sell USD to those who want to buy.
Fully Customized
When it comes to investing, many people like to pick their own stocks, set their own rules regarding when to buy and sell, and have full control over their investments. BitYox gives its clients all of these benefits and more. Not only do you get to choose from a variety of highly-traded coins, but you can also set rules regarding when to buy and sell, customize portfolio allocations, and engage with other investors via social media channels like Twitter.
The bottom line is that BitYox makes it easy for anyone to get started investing in cryptocurrency with minimal risk while providing the most experienced traders and other sophisticated investors with a fully-functioning platform that can handle the complexity of their most advanced orders. What more can you ask for from an investment platform?