WHAT IS A CRYPTOCURRENCY?
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
TRADE CRYPTOCURRENCY WITH CFDs?
Cryptocurrencies exist due to the technological revolution of the ‘blockchain’ – the public ledger that keeps a record of all transactions (or similar consensus ledger systems).
Since the outset, the potential of both this new type of asset and the technology, in general, has engendered interest in specialist quarters. In recent years, cryptocurrencies have begun to attract attention from a much wider audience, as Bitcoin has been accepted as a means of payment in increasingly more places.
WAYS TO TRADE CRYPTOCURRENCIES WITH FOREXG
You can trade cryptocurrencies with Forex G using CFDs. CFDs, or contract for difference, allow you to speculate on the price of cryptocurrencies without having to take ownership of the underlying assets.
With CFDs you can trade over 16,000 markets on leverage through all our available platforms including web, mobile, and MT5.
SPREAD IN CRYPTOCURRENCY TRADING
The spread is the difference between the buy and sell prices quoted for a cryptocurrency.
Many financial markets, when you open a position on a cryptocurrency market, you’ll be presented with two prices. If you want to open a long position, you trade at the buy price, which is slightly above the market price. If you want to open a short position, you trade at the sell price.