Trade leading cryptocurrencies
Definition of cryptocurrencies
Cryptocurrency is called virtual money that is exchanged on the Internet; thus, cryptocurrencies exist exclusively in the form of data, without physical form: bitcoin or ether cannot be touched or put in a safe. Owning bitcoin means the existence of some collective agreement confirming that the given amount of bitcoin was created by a legitimate miner and currently belongs to you.
Cryptocurrency miners
Cryptocurrencies function just like regular money, but they need to be mined (“mined”) like gold. In fact, mining is the process of verifying a cryptocurrency transaction. In the world, operations are constantly being carried out to transfer digital currencies from one wallet to another, and miners are engaged in checking these operations using computer resources.
When a cryptocurrency is launched, its developers announce how many "coins" can be mined, and upon reaching this quota, new units of currency are no longer produced. The world's first cryptocurrency was bitcoin, which is still the benchmark for all other virtual currencies. Currently, we provide the opportunity to trade such most popular cryptocurrencies as Ethereum, Ripple, Litecoin and EOS, as well as forks (branches) of Bitcoin Cash and Bitcoin Gold.
Blockchain is the backbone of cryptocurrencies
Unlike ordinary foreign exchange transactions, cryptocurrency transactions are not regulated by banks or other financial institutions, but are recorded in a special electronic journal called a blockchain.
Blockchain concept
Blockchain is a list of data about operations (blocks), linked and encrypted. The blockchain is constantly growing and is completely open to everyone. Each block in the blockchain contains the following data:
1. Information about the sender, the recipient and the amount.
2.T.N. Hash, a unique block code.
3. The hash of the previous block in the chain.
After a new block is created, it is sent to all network users who verify it before adding it to the blockchain.
Cryptocurrency wallet
A cryptocurrency wallet is a hardware or software solution that can be used to store and exchange cryptocurrency. Each wallet is unique and encrypted. When funds are sent from one wallet to another, an encrypted message is actually transmitted, which can only be decrypted by the recipient's wallet. A hardware wallet is considered to be better than a software wallet for the following reasons:
- protection against viruses and malware;
- safety of private keys;
- no need to import programs;
- higher level of security;
- using an open source program to verify the device;
- the ability to place several cryptocurrencies on the wallet at the same time.
Benefits of cryptocurrency trading
- Complete security. Client funds are reliably protected by segregated accounts and reliable licenses.
- Large selection of cryptocurrencies. There are many Cree currencies available on our trading platform.
- No hidden fees. We do not charge any fees, including for banking transactions.
- 24-hour trade. We are one of the few brokers where you can trade around the clock.
- High leverage. Trade with more capital and make bigger deals.
- Limiting risk. You have the opportunity to independently determine the risk and profit in each trade using stop loss and take profit orders, as well as limit orders.
- The ability to trade paired with fiat currencies. Most brokers provide the ability to trade cryptocurrencies only in tandem with other cryptocurrencies. We can trade them against USD, EUR, JPY and other fiat currencies.
Why cryptocurrencies are attractive in trading
The cost of cryptocurrencies mainly depends solely on supply and demand, and therefore they are an excellent way to diversify a portfolio of assets; at the same time, cryptocurrencies are weakly correlated with the real economy and political situation. Immediately after the cost of bitcoin exceeded the price of gold (in 2017), two exchange-traded contracts for bitcoin appeared on the US market, as a result of which more and more institutional funds are invested in the cryptocurrency. In the same 2017, Indian Prime Minister Narendra Modi announced a gradual transition from paper money to electronic money, and in 2018 the Marshall Islands decided to create a cryptocurrency to replace the American dollar. Many central banks are already considering the possibility of introducing blockchain technologies. In general, cryptocurrencies are likely to stay with us for a long time, and an increasing number of investors around the world are already discovering their main advantages, which we will list below.
- The ability to diversify the investment portfolio (cryptocurrencies depend on market sentiment, demand, supply and nothing else).
- Large selection of various leading cryptocurrencies.
- Digital currencies provide new instruments with high volatility.
- 24/7 trading (even on weekends).