What is the difference between TRADE and EXCHANGE cryptocurrency?

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Many newcomers to cryptocurrencies believe that exchanging cryptocurrencies/tokens through a cryptocurrency exchange is like trading Crypto CFDs, as you can do in NAGA Trader. The truth couldn’t be any more different. There are many differences, but here are a few.

You can decide to Buy/Sell units of cryptocurrency on an Exchange and store them in a Wallet, but you can also trade on the price of cryptocurrency.

By trading, you can speculate on the price without ever taking ownership, using derivatives trading instruments called cryptocurrency CFDs.

By trading, you can speculate on the price without ever taking ownership, using derivatives trading instruments called cryptocurrency CFDs.

With a unit of cryptocurrency, you have to pay in full for the price of the asset. With trading, you only have to put up a small proportion of your total position size. This allows you to take a leveraged position on the price, gaining a greater exposure than might otherwise be available with your investment amount. This approach can also be cheaper – investors don’t have deposit or withdrawal fees to access the currency, for example.

SET UP YOUR TRADING ACCOUNT


SET UP YOUR TRADING ACCOUNT

If you simply want to trade cryptocurrency you just need a brokerage account, rather than accessing the underlying exchange directly. The broker will be exposed to the underlying market on your behalf. This is usually quicker and easier to set up.

With NAGA Trader you also have access to the whole NAGA Ecosystem (Wallet, Exchange, Virtual, CARD, CYBO etc.) “NAGA is your one-stop shop if you are an investor.”

To buy cryptocurrency, you need to buy and sell via an exchange. This means you need to create an exchange account and store the cryptocurrency in your digital ‘wallet’.

WHICH CURRENCIES YOU CAN BUY AND SELL ON NAGA TRADER


WHICH CURRENCIES YOU CAN BUY AND SELL ON NAGA TRADER

In reality, you won’t be able to trade all 1,500+ cryptocurrencies that exist today. However, you should be able to trade all the major currencies – including Bitcoin, Ethereum, Ripple, Bitcoin Cash, DASH, Litecoin, NEO and IOTA – and new currencies are being added all the time. With so many around, it can be best to choose those that you know something about, and become an expert in their price movements, rather than taking a broad-brush approach.

The pairings in NAGA Trader are EUR and/or USD (Not USDT as are often used in the mayor crypto exchanges).

Cryptocurrencies are volatile and running large open positions is risky. We recommend that investors test their knowledge with a demo to get a feeling of how the crypto markets work and what influences them. Once you feel comfortable start trading with small amounts.

 


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If you need further assistance, please do not hesitate to contact our staff.

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With the NAGA Coin, NAGA aims to establish the world’s first crypto-gateway to trade stocks, CFDs, ETFs, and any other sort of financial instruments and virtual goods on a global scale in a secure and transparent way with NAGA Markets and NAGA Trader. NAGA shall become the trading platform for any financial or virtual product of the future. It’s time for you to be able to buy any stock or game item with your NAGA Coins or other cryptocurrencies, let a personalized and unique robo-advisor, called CYBO, invest for you, and build your financial wealth with full transparency and efficiency with low or no transaction costs.
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