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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 buy HedgeTrade coins. 

Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
1€
Russian Federation
Start Trading View key features
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
  • BTC
  • DOGE
  • TRX
  • ZRX
  • ARK
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.
Bitpanda
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Min Deposit
1€
Russian Federation
Start Trading View key features
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Top Coins
Payment Methods
Visa, Mastercard, Neteller, Skrill, Sofort, Giropay, EPS, Credit Card
BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.
Coinbase
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Min Deposit
2€
Russian Federation
Start Trading View key features
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Top Coins
  • BTC
  • LTC
  • XRP
  • ETH
  • BCH
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Coinmama
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Min Deposit
50€
Russian Federation
Start Trading View key features
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Top Coins
  • BTC
  • DOGE
  • ADA
  • LIBRA
  • BNB
Payment Methods
Credit Card
Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.
eToro
Key Features
Access the world’s most popular Crypto assets including Bitcoin, ETH, LTC, XRP
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available
Min Deposit
200€
Russian Federation
Start Trading View key features
Key Features
Access the world’s most popular Crypto assets including Bitcoin, ETH, LTC, XRP
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available
Top Coins
  • ADA
  • BTC
  • XLM
  • XRP
  • LTC
Payment Methods
Credit Card, Debit Card, Wire Transfer, PayPal, Skrill, Neteller, Yandex, WebMoney, MoneyGram
eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 14 Cryptoassets to invest or invest in their CryptoPortfolio (where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.
eToro is a multi-asset platform which offers CFD and non CFD products. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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 (an automated system) 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

Before you buy HedgeTrade, you will need to find a reliable 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 where you can actually buy HedgeTrade. Not many exchanges currently offer HEDG 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 buy HedgeTrade tokens – 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 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 HEDG 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 different crypto brokers will 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 HEDG 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
  • 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
  • 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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