How to trade Stocks, Forex and Commodities with your Bitcoin and other Cryptocurrencies
Hello.
Did you know you can use crypto to trade stocks and other things?
It wasn’t always this way, but now it is thanks to all of the exciting new payment rails..
I use SimpleFX to trade all sorts of stocks and commodities, sometimes forex — but for the most part I like to trade gold, oil, TSLA and the SP500.
Usually i will use litecoin or bitcoin as my deposit. Essentially you are using your crypto as collateral in a CFD — Contract For Difference. This allows you to trade with high leverage (up to 500x), and make trades on the traditional markets while hopefully profiting in bitcoin (or the crypto you deposited with).
Must note that if you are a US citizen, then you will need a VPN (also you wont beable to use USDT unless you verify). You can get a free VPN from ProtonVPN
Quick Links:
Follow these steps to get started:
- Go to the Website: www.simplefx.com (If youre a US citizen then get a VPN)
2. Create an account with an email and password
3. Select a crypto currency type and make a deposit
4. Create a list of favorite Tickers
5. Open a trade with proper fund management principles (don’t go all in on your first trade)
6. Set a stop loss and take profit to auto close your trade
Careful. Trading is tricky. It is an emotional game. The charts are measurements of pessimism and optimism in the marketplace. Learn to manage your emotions — fear, greed, etc. Know when to take profit and cut losses, don’t get too greedy. Trading is a long game, and isn’t a get rich quick overnight scheme. With discipline and the right strategies you can be successful at trading.
