With the recent listing of The Sandbox (SAND) you can now go long or short one of the hottest Metaverse crypto CFD tokens right here on the ThinkMarkets trading platform.
So what is SAND and how can you trade it as a crypto CFD?
The Sandbox is a virtual environment on the Ethereum blockchain where users may create, control and sell their game experiences using SAND, the platform's utility token.
The benefit of trading SAND as a crypto CFD is that it allows you to benefit from both rising and falling markets. Unlike traditional cryptocurrency exchanges, where you can only trade on price increases, CFD trading allows you to take advantage of the volatility that is inherently available in crypto markets.
ThinkMarkets is a leading global online broker that connects people from all around the world to trade some of the most sought after financial assets on an award-winning trading platform.
In this tutorial we will show you how to get started trading the SAND crypto CFD on the ThinkMarkets trading platform...
- Download the ThinkTrader app
ThinkTrader is available to download for IOS users in the App store or to download for Android users in the Play store.
- Open a ThinkMarkets CFD Live account.
It's simple to get started trading on ThinkMarkets as the process of registering a new free account is fast, easy and secure. Remember, to trade SAND on the ThinkMarkets trading platform, you must open a CFD account.
- Search for the SAND token
Go to the search feature and enter SAND. You can then see price charts and review the market in preparation to open your position on The Sandbox crypto CFD.
- Open your position on SAND
You can open your position on SAND via the easy-to-use trading interface. You can mitigate your risk by choosing to add a stop loss/take profit, which will automatically close your position once your asset hits a certain level.
Remember, if you think the asset will increase in value (the price will go up), then you should ‘buy’ the market. If you think the asset will decrease in value (the price will go down) then you should ‘sell’.
- Monitor and close your position
Now that you have opened your position, you need to keep an eye on the trade to decide on your next move which will be wholly dependent on the market and asset that you are trading.
So what are you waiting for? You can start trading The Sandbox (SAND) as a crypto CFD in your ThinkMarkets account today.
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Investing in derivative products carries significant risks and is not suitable for all investors. Please be aware that you do not own, or have any interest in, the underlying assets. We recommend that you seek independent advice and ensure you fully understand all risks before trading.