This disruptive digital technology provides an alternative
to traditional currencies, allowing fast,
unregulated, anonymous payments across the world.
Cryptos are known for rapid price movements. They’re a high-volatility instrument, gaining in value as they
reach greater adoption and falling on news of possible government regulation and security concerns.
The major benefit of trading crypto CFDs (Contract for Difference) against the US dollar is that traders can potentially profit from an instrument’s drop in value, as well as a rise. Always searching for ways to provide innovative trading services for our clients, FXTM offers cryptocurrency CFD trading for the four most popular digital coins: Bitcoin, Ethereum, Litecoin, Ripple, and more
Bitcoin prices skyrocketed to record-breaking heights in December 2017, reaching almost $20,000 before falling back down. Bitcoin enthusiasts remain hopeful that its price will reach a similar threshold again. More cautious investors adopt a wait-and-see approach, speculating that the coin will find a stable price once interest has steadied and users grow more confident.
This uncertainty makes CFDs a particularly suitable financial product for Bitcoin and other cryptocurrencies. Trading Bitcoin CFDs means that you don’t need to invest in the actual asset – you can instead make a judgement on which direction the price will go. You also don’t have to worry about insecurity; you are protected from the scams sometimes associated with crypto’s, while still enjoying the opportunity to profit from its success.