CRYPTOCURRENCY

Trade Cryptocurrencies

Cryptocurrencies are a form of digital currency that operate independently of centralised control, such as government or financial institution oversight. Well-known examples of cryptocurrencies include Bitcoin, Ethereum, and Litecoin.

Trading in cryptocurrencies can be conducted using traditional currencies like the US dollar or euro, or through exchanges with other cryptocurrencies.

Cryptocurrency trading often involves currency pairs, such as BTC/USD (Bitcoin to US Dollar) or ETH/EUR (Ethereum to Euro). To start trading, select a currency pair and employ technical and/or fundamental analysis to understand market trends and potential movements.

When placing a trade, decide on the type of order (market, limit, stop-loss, etc.) and the amount you wish to trade. Continuously monitor your trades and be ready to adjust your strategies and orders as the market changes.

It's crucial to recognize that trading cryptocurrencies on a forex platform is fraught with risks, including high volatility. Thorough research and a clear understanding of the risks involved are essential before committing any funds to cryptocurrency trading.

For personalised guidance tailored to your specific needs and goals, our team of financial advisors is available to provide expert advice.

What is cryptocurrency?

Cryptocurrency is one of the most revolutionary technologies of the early 21st century, with an origin story, history and explosion into the public consciousness that rivals many other inventions that came before it. In 2008, a research paper from an anonymous individual or group known as “Satoshi Nakamoto” was released.

Nakamoto’s newly created computational data structure called “blockchain” was based on making sure no one party had central control over the system. As a result, it would allow for people around the world to transfer value without needing to trust each other, and without needing an authority to manage the system.

This new type of virtual currency was named “cryptocurrency” by its creator, and in the same research paper that described blockchain technology, the design of the first cryptocurrency called “Bitcoin” was also explained. Although today there are more than 3,000 cryptocurrencies in use around the world, Bitcoin held more than 90% of the total value of all cryptocurrencies for many years and was one of only a small handful in existence.

This new type of virtual currency was named “cryptocurrency” by its creator, and in the same research paper that described blockchain technology, the design of the first cryptocurrency called “Bitcoin” was also explained. Although today there are more than 3,000 cryptocurrencies in use around the world, Bitcoin held more than 90% of the total value of all cryptocurrencies for many years and was one of only a small handful in existence.