Cryptocurrency CFD Trading
Open an MT5 account to go long or short on Bitcoin, Ethereum, Litecoin and Ripple CFDs.
Trade Cryptocurrency CFDs with asteolux
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Find your feet with our two personalised account offerings. Our multilingual team is available to help you navigate the financial markets. You can trade at your own pace knowing we are only a phone call away.
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Expand your portfolio and access over 200 financial instruments across a large range of asset classes including Forex, Indices, Commodities and Shares.
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What is Cryptocurrency Trading?
Cryptocurrencies are digital currencies, which are secured by cryptography and exist on a decentralised ledger based on blockchain technology. Many people favour cryptocurrency due to the lack of a central authority which means there is no interference from the government, it can’t be manipulated, and most importantly it’s almost impossible to counterfeit cryptos.
Cryptocurrency CFD trading is a form of derivative trading that enables you to speculate on rising or falling cryptocurrency prices by taking a long or short position. CFD trading works by enabling traders to take a position on whether an asset will rise or fall in price. You do not own or have any rights to the underlying asset. Profits and losses from price movements are realised when you close a position.
Bitcoin was the original cryptocurrency and was introduced in 2009. It’s also the most valuable and most widely traded. Bitcoin is viewed as both a store of value and as a medium of exchange, and both of these attributes give it its value. Bitcoin’s code has been copied and amended by numerous other teams starting similar digital currencies, however, Bitcoin is still more valuable than all the other cryptocurrencies combined.
Ethereum is similar to the Bitcoin blockchain, however, the platform enables users to run applications and smart contracts. Ethereum is known for its decentralisation and autonomous functionality which makes it different to other open public networks.
Ripple is a company creating blockchain-based solutions for the global banking industry. These solutions use Ripple’s own cryptocurrency, XRP, which trades freely like any other cryptocurrency. Ripple is being tested by several of the largest banks in the world. This is because the interbank currency market is the largest market in the world, if the tests are successful, XRP will have significant utility underpinning its value.
Due to the size of its market capitalisation, Litecoin is rendered to be the third biggest cryptocurrency after Bitcoin and XRP. Users go to Litecoin to transfer currencies from one to another but in units of Litecoin, as opposed to USD. Just like the other cryptos, Litecoin is not issued by the government instead, they are created through a process known as ‘mining’.
Advantages of Trading Cryptocurrencies CFDs
- Cryptocurrencies have the largest price movements of any asset class, which can present trading opportunities (as well as risks)
- Cryptocurrency CFDs allow traders exposure to the price movements of the latest innovations in the field of finance & technology.
- The ability to open short and long positions in markets with small or large amounts of capital.
|Bitcoin (BTCUSD)||Monday-Friday (00:00 – 23:59)|
|Bitcoin Cash (BCHUSD)||Monday-Friday (00:00 – 23:59)|
|Ethereum (ETHUSD)||Monday-Friday (00:00 – 23:59)|
|Litecoin (LTCUSD)||Monday-Friday (00:00 – 23:59)|
|Ripple (XRPUSD)||Monday-Friday (00:00 – 23:59)|
Margin trading refers to using borrowed funds from a broker to purchase a financial asset or assets in a larger volume. Traders use margin to buy more stock than they would normally be able to (or afford to do). Margin is then used to create leverage to enter larger trades or open larger positions, in a bid to magnify gains.
FUND & TRADE
Fund account with as little as €100 and start trading the global markets.