Cryptocurrency trading for beginners on Deriv

Trading cryptocurrency on Deriv is like trading other financial markets – forex, stocks and stock indices, or commodities. You don’t need to buy the actual crypto. Instead, you predict price movements of crypto assets and gain profit if your predictions are correct. 

Before you dive in, it’s crucial to have a clear understanding of the basics, such as what cryptocurrency is and how it works – just like with other markets. Once you are confident in your knowledge, you can move on to learning about cryptocurrency trading. 

How to trade crypto pairs?

Trading cryptocurrency pairs is very similar to trading fiat currency pairs on forex. Let’s see how it works, taking the BTC/USD pair (Bitcoin against the US dollar) as an example.

If you predict that the value of Bitcoin will rise against the US dollar, you can open a buy trade and get a payout if your prediction turns out to be correct. Similarly, you can go for a sell trade if you think that the value of Bitcoin will fall.

Here is how it works in a nutshell:  

How Does Cryptocurrency Trading Work

On Deriv, you can trade cryptocurrencies by going long and going short with CFDs or multipliers and profit from the price movements of assets without buying or owning the actual digital coin. 

How to trade cryptocurrency with CFDs on Deriv

Deriv offers 2 CFD trading platforms with cryptocurrency trading: Deriv MT5 (DMT5) and Deriv X. DMT5 is our version of the world’s most popular CFD trading platform, while Deriv X is our newest addition with a highly customisable interface. Both platforms are great for CFD trading, and the choice would purely depend on a personal preference. 

Here are the cryptocurrencies you can trade with CFDs on both platforms:

Cryptocurrencies Available for Cfd Trading on Deriv

Most of them are traded against USD, while Bitcoin is also traded against Ethereum and Litecoin.

To start trading cryptocurrency on Deriv, you will need to create a Financial account, select your preferred pair, set up the required trading parameters, and place your trade. If you need a little more guidance on setting the trading parameters for your trade on DMT5 or Deriv X, check out our step-by-step instructions.

How to trade cryptocurrency with multipliers on Deriv

To trade cryptocurrency with multipliers, you can choose between the 2 platforms: DTrader, and our mobile app – Deriv GO. DTrader is an intuitive and user-friendly platform to use, while Deriv GO gives allows you to trade on the go.

Here are the cryptocurrencies available to trade with multipliers on 2 platforms, both traded against USD:

Cryptocurrencies Available for Trading with Multipliers on Deriv

Placing a trade with multipliers is quite simple. All you need to do is select your stake, select the multiplier and place your trade. You can also apply risk management tools, such as take profit and stop loss, to manage your trades even better.

Ready to try trading cryptocurrency? Choose the platform you like the most and create a risk-free demo account loaded with 10,000 USD virtual money to practise your skills!



The Deriv GO and Deriv X platforms are not available for clients residing within the EU.