stormgain | tutorial

 What is StormGain?

StormGain was created in 2019 and considers itself a cryptocurrency trading platform for traders of all shapes and sizes. Leverage is gaining popularity among cryptocurrency exchanges, but the tools and flexibility make StormGain stand out from the crowd.

StormGain Products Offered:

Whether you use a web browser system or a mobile app - you'll see that StormGain has four main products available to its customers.

When you register with StormGain, you have access to the following products:

Spot exchange: instantly exchange the cryptocurrency at the market rate.

Regular exchange: Trade cryptocurrencies with advanced order types as well as more sophisticated tools.

Margin exchange: (or trading using the multiplier) With margin exchange, you can trade cryptocurrencies with a leverage of up to 200 times.

Crypto wallet: You can send, receive or store your cryptocurrencies here - more on this topic at the bottom of this page.

The basic products mentioned above ensure that you have all the tools and features required to trade cryptocurrencies in an effective manner.

What currency pairs can I trade?

In addition to the more popular BitcoinCash / Bitcoin and Litecoin / Bitcoin, there are a large number of pairs offered on StormGain.

Fees and limits in StormGain

StormGain makes it really easy to sign up for an account. They also have competitive low fees. This depends on the financial assets you want to trade.

Just like other cryptocurrency exchanges, StormGain fees allow a lot of space for you to make a profit. With that in mind, we'll give you some examples. This way, you can see for yourself what kind of fees you should expect.

All fees are correct as of July 2021.

The bonuses

At the lower end, StormGain charges a prime commission rate of 0.095%. BCH / BTC is slightly more expensive at 0.25%. However, in the grand scheme of things, this is actually very competitive.

For example. Suppose you want to trade 10,000 BCH / USDT, and this will cost you 10 units of commission. With a commission of 0.095% and a minimum exchange size of 0.0001 BCH.

If you wanted to trade 10,000 BCH / BTC, this would cost you 25 to trade because the commission fee is 0.25%.

The average swap commission for BCH / USDT, LTC / USDT, ETH / USDT and BTC / USDT is 0.04% for purchase and 0.004% for sale.

spread out

StormGain is a 0% broker spread. Instead, you only have to pay a commission of 0.25% per order. As mentioned above, it completely depends on the currency pair you are trading and is still considered extremely low.

Deposits and withdrawals

You can deposit to StornGain for free when funding your account with a digital currency. The minimum deposit required will depend on the currency you choose.

When it comes to bank card deposits, a 5% commission will be charged. There is a minimum cash deposit too, as the amount depends on your choice of currency. For example, there are minimum deposits of 50 USD, EUR, CHF, 70 AUD, and 1000 CZK.

Again, these are just a few examples of each. You can find all fees on the site. Moving on to SEPA transfers, the commission for withdrawals is 0.1% on BTC and ETH. The minimum withdrawal amount is € 150 with SEPA, with a maximum limit of € 10,000.

Leveraged cryptocurrency trading on StormGain

If you want to trade cryptocurrencies with leverage, StormGain offers high-quality trading tools. This stands at an astonishing 200x level on Litecoin, Bitcoin, Ripple, Bitcoin Cash and Ethereum to name a few. With this in mind, this means that a deposit of $ 100 with StormGain will allow a maximum trade of $ 20,000.

Although it is worth noting that the terms and conditions shown will differ greatly. The fact that the currency markets are highly volatile makes for an ideal environment for leveraged trading.

StormGain has created a very capable platform that enables you to trade quickly and simply, without spending your life's savings on doing so. One of the most important things to consider when you are interested in using leverage is to learn how to manage risk.

Before committing, be sure to look at all of StormGain's features to make sure the exchange is personally right for you.

Leveraged Crypto: A Niche Market

As we have noted, a lot of CFD brokers now offer leveraged crypto products. However, it must be said that StormGain offers very competitive terms. 

The majority of stock CFD brokers are unable to offer high limits on leverage, not least because of bodies like ESMA.

For those unaware, traders in the UK and Europe are restricted to a maximum leverage of 1:30. However, this is not the case with StormGain. As mentioned, StormGain allows anyone to open an account, as long as that person has crypto holdings.

Limit orders and leverage combined

You may have a clear idea by now that leveraged trading involves much more risk than simply using the cash position. Due to the fact that StormGain allows you to execute limit orders, using high leverage is safer. The two commonly used orders in this area are take profit orders and stop loss orders.

Let's get into more details on each of them.

Stop loss

Basically, the leverage doubles your trading capital so you can maintain your position. To give you an example, using 10x leverage means you are able to use 10 times the amount you had in the beginning.

This means that if a trade goes well, your earnings will be 10 times higher. The risk comes when you consider that if things don't go well, your losses are also amplified by 10.

This is one of the main reasons any experienced trader will tell you that when using leverage, you should also place a stop loss order. The last thing you want to do is to use this leverage and go over the limit available in your trading account.

By having a stop loss order, you don't have to worry about scaling losses more than you can bear.

Withdrawing profits

If all goes well when trading with leverage, your gains could be impressive and could build momentum soon. Always keep in mind that even if all goes well for you, the market can be very volatile. 

These gains can be eaten in the blink of an eye.

How do I know if crypto leverage is right for me?

As we said, leverage is not easy to use because it increases risk. What is good for a single trader may not be of good to you. 

Pay attention to a few considerations before you dive into trading and start trading with leverage. This should be the case regardless of how reputable the platform is.

StormGain Risk Management

No matter what you trade, risk management is one of the most important things you need to have a good understanding of.

Let's imagine you are using a leverage of 40x. You are using your account balance entirely to secure your position in the market.

Hypothetically, your account is worth 200 USDT. Your position in this scenario would be worth 4,000 USD.

However, $ 200 is now offered as margin. Since this amount is 2.5% of the total order volume ($ 4,000), a loss of 2.5% will cause your position to liquidate.

In simple terms, this means that the position will be closed and you will lose the margin completely.

As a result of the above, having a risk management strategy in place will be a very important part of the StormGain trading experience. This is especially the case if you want to trade with leverage.

For example, no matter how much leverage you apply, setting a stop loss order at 1% will ensure that you will not lose more than 1% of your total stake. If and when your trade drops to red 1%, your position will be closed automatically by StormGain.

A stop loss order is a great way to manage risk when using leverage. Always try to identify levels that will help you maintain your margin account. This will help you maintain your trading momentum.

Legging in StormGain

Legging in is a strategy used to create a leveraged position. Therefore, instead of using all the equity capital in your margin account, you can alternatively open a mini-placement account. This gives you an opportunity to see which direction the market is headed in.

If you are wrong in predicting which direction the market will go, your losses are much smaller in comparison. This is critical when using a leveraged broker like StormGain, not least because you will have access to multiples of 200x.

Of course, knowing whether the markets will rise or not fall is almost impossible. When you look at your stop loss orders, it may turn out that you were wrong about the market direction.

You can take a look at the starting position to take when putting the man to the test of cryptocurrency trading theory. Therefore, even if you misstep the direction of the market, entering a small position initially you have a chance to test your hypothesis.

If you open your position and things go as expected, you can always add to them. Ultimately, we recommend that you have your own trading plan. It is a good idea to know how much or how little you want to add to the center.

Don't forget to use take profit orders as well, so that your gains are locked up when the leverage position goes in your favor.

StormGain: the platform

Many cryptocurrency exchanges design their own trading platform. StormGain is no different. Since we covered tools and products earlier, you already know this comes with some great features for traders.

The StormGain platform is well designed and easy to use. On the left-hand side, you will see all the latest prices. In the middle, you have the trading instrument of your choice. On the right side, you will see your wallet balances.

Below where your main chart is, you will see your trades. Underneath this, you can see a "Sentiment Meter", which shows active buy and sell trades.

In order to make a trade, you just need to click "Open New Deal". A window will open where you can install stop losses, leverage, etc.

StormGain has a unique feature on its platform - built-in Trade Signals. You will be informed of any new trading opportunities with automatic trading alerts. This is thanks to the highly advanced AI technology.

Although you can access algo services via third-party websites, StormGain is completely free to use. Moreover, you will receive interactive study charts. Market alerts are also supported, so you'll stay updated on any financial news that might affect your trades.

Innovative tools for professional traders

Are you the type of trader who likes to take advantage of leverage as well as high-spec tools? If so, StormGain has a handy toolkit inside of it.

StromGain offers cryptocurrency derivatives that are secured by USDT (Tether). You can simply deposit 50 units of any currency into your StormGain account, and you can then apply the leverage anywhere up to 200x.

There is no denying that the use of leverage increases the risk of loss. But any potential gains from the trade will be amplified as well. A deposit of $ 200 can be availed of in financial assets of up to $ 40,000,000.

Using leverage liberally is not recommended, as this can easily be the downfall of inexperienced traders. When you have good knowledge of the market and made some trades; Then, by all means, work with leverage. However, it is very important to have a solid risk management strategy first to help you stay solvent.

StormGain Cryptocurrency Wallet: Integrated

Technology is moving fast. This is a multi-currency wallet that is exclusive to the StormGain platform. The wallet enables you to exchange or transfer funds and securely manage your account on the go.

Cold wallet is one of the safest ways to store your cryptocurrency. With cold storage, your money is stored and accessed offline, especially private keys. The private key controls the passage to your encrypted wallet, which should always be offline.

Each wallet will contain a private and public key:

 

Private Key: This gives you access to your coins when you want to spend or withdraw them from your wallet.

Public key: This is basically your "address". When people send coins to you, they will use this information.

 

As you can see, it makes sense to keep your coins in cold storage (offline). If he's not online, then you know he's not in a vulnerable position when it comes to hackers or malware.

6 cryptocurrency wallets

There are six cryptocurrency cold wallets on the StormGain platform and they are for the coins listed below:

Letsuan (Lets)

Bitcoin (BTC)

Ethereum (ETH)

Bitcoin Cash (BTH)

Rupee (USD)

Ripple (XRP)

The cold wallet versus the hot wallet

We explained that a cold wallet is the most secure way to store your cryptocurrency. Since cold is the opposite of hot, you probably guessed that the hot wallet is the one that is connected to the Internet. 

But the question is if a cold wallet is so secure, why would you consider using a hot wallet to store your bitcoins?

Well put it this way - the risk that comes with a hot wallet is right for the convenience it brings to you.

To give you a clearer picture of the two opposing portfolios in StormGain - here's a simple comparison:

Hot wallet

Contact: online

Account type: checking account

Most useful for: Spending

Cold wallet

Contact: Offline

Account Type: Savings Account

Most useful for installation

A hot wallet is useful for making the most of all the internet banking conveniences we are all used to. Transfers, exchanges, deposits, and really any kind of money management. You can secure your StormGain hot wallet by including two-factor authentication, PIN numbers, passwords, etc.

Of course, there is a small chance that the security measure will be breached by very determined hackers and fraudsters. Because of this, StormGain uses both cold purses and hot purses.

Using the app allows you to trade, buy and exchange currencies 24 hours a day, 7 days a week from your phone. As we said earlier, the majority of your coins are guaranteed to be kept in a cold storage (offline) to protect you from hackers and violators.

Deposits and withdrawals at StormGain

You can withdraw and deposit here using the following cryptocurrencies:

BCH (Bitcoin Cash)

BTC (Bitcoin)

LTC (Litecoin)

ETH (Ethereum)

Rupee (USD)

XRP (Ripple)

To deposit or withdraw using StormGain, choose the asset you want and press "Send" the funds to your wallet address. If you want to withdraw, just click on "Receive".

Alternatively, you can fund your account with a credit and debit card. However, it is worth bearing in mind that depositing this way will cost you. This is because there are processing fees to consider.

Is StormGain safe and secure?

Yes it is. This crypto broker has a variety of mutual security extensions, encrypted backups, and moderate transparency. As such, StormGain is a safe platform to use when exchanging cryptocurrencies.

As we said, StormGain offers a variety of security features for your crypto exchange account, which we discuss in more detail below.

2FA: Two-factor authentication

Basically, this is an extra layer of security along with your password. Therefore, when this is enabled, you will have to enter the 2FA code that is sent to your mobile phone when performing the main account functions.

TOTP: time-based one-time password

StormGain uses TOTP for two-factor authentication. Simply, a unique and temporary 6-digit code will be generated. This will only be usable for 30 seconds. In order to implement anything related to your assets, you must provide this code in addition to your usual password.

Actions that trigger 2FA are cryptocurrency withdrawals, whitelisting of the wallet, and sending the crypto to other users of the app. 2FA is available for both Google Authenticator as well as SMS.

On the StormGain platform, you'll also see Essential Safety Tips. We believe this is not only responsible for the platform to provide this but it is also useful for new users finding their feet.

Another area where StormGain deals with digital asset security is cold-box storage for crypto-wallets. We'll cover crypto wallets in more detail in our guide.

StormGain: Simple registration

  It's really easy to open an account with StromGain. All you have to do to get started is to go to their website and then enter your email address and a unique password to create your account.

Now you need to deposit with a cryptocurrency. After that, you should be able to trade with a leverage of up to 200 times on your chosen digital asset.