WHAT ARE CRYPTOCURRENCIES?
ForexG is one of first professional algorithmic trading solution to support automated Crypto currency trading.
ForexG has direct exchange adapters to Binance, Bitfinex, BitFlyer, Bithumb Pro, BitMex, BitStamp, Coinbase Pro, Deribit, Huobi spot, Kraken spot, OkEx / OkCoin, RFQ adapters to B2C2 and Tilde/Grasshopper, historical data adapters to CoinAPI and CoinMarketCap, as well as live market data from CoinAPI.
Our cryptocurrencies are quoted both in US Dollars and Euro allowing you to speculate on whether their value will increase or decrease in relation to the currency of your choice.
If you believe that the price of Bitcoin will rise against the US Dollar, you will place a buy order on BTC/USD. If the price goes up, you will make a profit based on the price movement and the size of your positions. If it goes down, your account will make a loss.
DIFFERENT OF CRYPTOS AND FOREX
There are two main differences between trading forex and trading cryptos.
The crypto markets are young and highly volatile. That’s why risk management is of paramount importance for traders who wish to participate in this fast paced trading environment. The second key difference is that cryptocurrencies are immune to monetary inflation.
The fiduciary currency can be printed by the government whenever they want. Cryptocurrencies on the other hand have pre-defined market caps.