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How to Buy HedgeTrade in 2020: Buy, Sell & Trade

HedgeTrade aims to revolutionise social trading using blockchain technology, but is the platform’s HEDG token a worthy investment?

Where to buy HedgeTrade coin

Read on to find out about HedgeTrade and how it works or jump ahead to our step-by-step buyers guide if you’re ready to start investing. 

eToro
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Min Deposit
$50
United States
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Top Coins
  • Litecoin
  • EOS
  • Bitcoin Cash
  • Dash
  • Ethereum
Payment Methods
Wire Transfer, Bank Transfer
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities. eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
CEX
Key Features
Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
Min Deposit
$200
United States
Key Features
Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
Top Coins
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies
Cex.io offers exchange of fiat currency for Bitcoin and Ethereum, as well as Bitcoin/Ethereum trading against the USD.
FOREX.com
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Min Deposit
$50
United States
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Top Coins
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated juristictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
Forex trading involves significant risk of loss and is not suitable for all investors.
Bittrex
Key Features
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
Min Deposit
$1
United States
Key Features
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
Top Coins
  • Bitcoin
Payment Methods
Credit Card
Bittrex Global has one of the most secure trading platforms and digital holding infrastructures in the world where customers can access exciting new products.
Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
$1
United States
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
  • Bitcoin
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

What is HedgeTrade?

HedgeTrade updates the social trading concept by making its expert traders accountable for their predictions. It does this by incentivising them. If their prediction proves to be correct, they’ll earn proceeds from users who purchased it, if it doesn’t, those users get a refund.

How does HedgeTrade work?

HedgeTrade uses a blueprint (essentially a specific prediction that’s been made by a user on a particular financial instrument) which is stored on the HedgeTrade system. The HedgeTrade Oracle evaluates each blueprint at the point of its expiry. Appropriate rewards are then distributed to the blueprint creators (predictors) and the blueprint purchasers.

Rewards and refunds are paid out in the form of HEDG tokens, which can be purchased in exchange for Bitcoin. Alternatively, it can be purchased from crypto exchanges.

How to buy HEDG online – step-by-step guide

Step 1. Open a suitable wallet

There are loads of HEDG-compatible wallets to choose from, so we’ve listed two of our favourites to narrow down your search: 

  • Ledger Nano X: One of the safest options for storing your HEDG  tokens is the Nano X hardware wallet from Ledger. It’s not the cheapest wallet out there, but if you’re serious about security, it’s one of the best. 
  • MyEtherWallet: If you’re not looking to spend money on a wallet, web-based MyEtherWallet (MEW) is a great option. 

Step 2. Find a HedgeTrade exchange

The next step to securing those HEDG funds is to find an exchange. Not many exchanges currently offer the token but there are a few, including: 

  • Bittrex: Boasting a slick, easy to navigate interface and speedy transaction times, this US-based exchange supports over 200 currencies and allows you to purchase HEDG using BTC. A Bittrex mobile app has recently been launched. 
  • HitBTC: If you want to buy your HEDG with Ether then head on over to HitBTC, where you’ll find an easy-to-use interface and multiple coin support. 

Step 3. Withdraw your HEDG

It’s a good idea to withdraw your HEDG from the exchange as soon as you’ve acquired them – it’s much safer to keep cryptocurrencies in a digital wallet than on an exchange.

How to trade HEDG – step-by-step guide

If you’re only interested in trading rather than buying and owning HEDG, then there’s no need to set up a wallet as you’ll simply be predicting whether the price of HEDG will go up or down. 

Step 1. Find a broker 

Finding a broker is easy if you know where to find them and what you’re after. However, it’s well worth having a look around and doing some research before you commit to one as they all offer different perks and levels of support.

We tend to go for more established brokers such as Plus500 or eToro as they have been around for a while and are easy to get to grips with. 

Step 2. Deposit money

Once you’ve chosen a broker, you’ll need to put some cash down as a deposit. The process is fairly straightforward and minimum deposit requirements are usually pretty low, so you can start with a relatively small bankroll.

Step 3. Decide how you’d like to trade

There are two main ways to trade cryptocurrencies: spread betting or CFDs (contracts for difference). While there are some differences, both methods require you to take a position on whether you think the price of your chosen cryptocurrency will rise or fall over a set period of time. If you’re just starting out, it might be worth doing some research on spreads and CFDs before you jump in. 

Step 4. Start trading 

Once you’ve put down a deposit, you’ll no doubt be raring to go, but we recommend you set up a demo account with your broker before you start trading for real. It’s easy to win and lose money very quickly when trading, so it makes sense to get a feel for the platform you’ve chosen as well as the ebb and flow of the cryptocurrency market.

In essence, all you need to do is take a position on whether the price of your cryptocurrency will increase or decrease. If you think it will increase take a long position (buy) and if you think it will decrease, take a short position (sell).

You may opt to take advantage of leveraged betting, which is a feature of most trading platforms. Leverage enables you to put down a fraction of your trade’s total value as a type of deposit called a ‘margin’. However, this is a high-risk strategy, so it’s probably not for beginners. Experienced traders understand this, and use stop loss orders to mitigate risk. 

Still undecided?

Pros of HedgeTrade
  • Early market performance going into 2020 has been pretty strong
  • HedgeTrade has the potential to become a busy trading hub
  • Platform could lower barrier of entry to trading
Cons of HedgeTrade
  • Relies on HedgeTrade and blockchain-based social trading taking off
  • Competitors likely to emerge
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.

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