Litecoin trading with CFDs. Litecoin is somewhat underestimated cryptocurrency that is very similar to Bitcoin, but it has a lot of extra benefits. And because it’s not as popular as Bitcoin, I think it’s easier to make money on it. When trading Litecoin as a CFD product, you can earn money on the growth of the currency as well as on the. Jan 23, · You can either deposit money to an exchange and trade it there, or you can sign up with a regulated cryptocurrency broker and discover the huge variety of bitcoin trading options. If you are only interested in trading bitcoin and other cryptocurrencies, then signing up with a . Trading Risks. Bitcoin trading is exciting because of Bitcoin’s price movements, global nature, and 24/7 trading. It’s important, however, to understand the many risks that come with trading Bitcoin. Leaving Money on an Exchange. Perhaps one of the most famous events in Bitcoin’s history is the collapse of Mt. Gox. In Bitcoin’s early.
How to trade litecoin for bitcoinHow to trade litecoin | IG UK
Bitcoin, Ethereum and Litecoin can be all traded along with other cryptocurrencies 24 hours, 7 days a week. So you can trade Litecoin whenever you have a spare time, perhaps even on weekends. The most popular cryptocurrency in the world, Bitcoin, is very similar to our Litecoin.
But bear in mind that they are most definitely not identical! You can find the main differences between them in the tab below this paragraph. One of the main differences between Bitcoin and Litecoin is the maximum number of coins that these two cryptocurrencies can mine out. Bitcoin network can never exceed 21 million coins, while Litecoin can mine up to 84 million coins. They also differ in the algorithm that both platforms use and in the transaction speed.
Litecoin can confirm the transaction much faster than Bitcoin and it can handle a larger volume of transactions in a shorter timeframe. The algorithm that Litecoin uses is significantly simpler than the one that is used by Bitcoin. As a result of that, mining is possible even with weaker computers. And because extremely powerful graphics cards in the world are running out of stock, Litecoin has another big advantage. Litecoin software also does not consume so much electricity, which is very costly.
Avatrade offers 20 to 1 leverage and good trading conditions on its Bitcoin CFD trading program. Unlike stock markets, there are no official Bitcoin exchanges. Because there is no official Bitcoin exchange, there is also no official Bitcoin price. This can create arbitrage opportunities, but most of the time exchanges stay within the same general price range.
Bitcoin is known for its rapid and frequent price movements. As mentioned earlier, there is no official Bitcoin exchange. Users have many choices and should consider the following factors when deciding on an exchange:. Could the exchange run away with customer funds? Location — If you must deposit fiat currency, and exchange that accepts payments from your country is required.
Liquidity — Large traders will need a Bitcoin exchange with high liquidity and good market depth. Customers can trade with no verification if cryptocurrency is used as the deposit method. Global Bitcoin trading data shows that a very large percent of the global price trading volume comes from China.
The main reason China dominates Bitcoin trading is because financial regulations in China are less strict than in other countries. Additionally, Chinese exchanges charge no fees so bots are free to trade back and forth to create volume.
Kraken will be used as an example for this guide. The process and basic principles remain the same across all exchanges. Below you can find the first three verification levels:. There is also a cap of 84 million litecoins that can ever be mined. Despite launching two years later, there are far more litecoins available on the market — and faster transactions ensure that supply remains fluid.
Negative headlines surrounding litecoin — or negative headlines surrounding cryptocurrencies in general — will tend to play out on its price in a big way. People may claim that litecoin has many benefits over bitcoin as a payment solution, but until it is accepted by businesses across the globe that will remain an unsubstantiated claim.
So a major company adopting the cryptocurrency could see its price spike. It may be touted as a new currency, but investors buying and holding litecoin are the biggest reason for its rises in price. And those investors will pay attention to its market cap when deciding whether to buy more or sell. Where gold goes, silver often follows; where bitcoin goes, litecoin often follows.
Get my guide. For more info on how we might use your data, see our privacy notice and access policy and privacy webpage. Getting an exchange account can be problematic — sometimes taking days to open, and without the infrastructure needed to respond to support requests quickly. Opening an IG trading account takes minutes, and you can chat to one of our dedicated experts 24 hours a day Monday to Friday if you have any problems.
Create live account. A comprehensive trading plan is a great way of taking the emotion out of your decisions, setting out the trades you should make as well as when to take profit or cut losses. Here are five steps that you can follow to create a trading plan:. You might also want to consider running some technical analysis on litecoin. The charts in the IG Trading platform come equipped with a range of indicators to help you identify trends, and plan your first trade accordingly.
Read more about cryptocurrency trading strategies here. With IG, you can trade litecoin using a variety of platforms, including:. Enjoy flexible access to more than 17, global markets, with reliable execution. Trade on the move with our natively designed, award-winning trading app.
Create demo account. No, not if you trade via CFDs or spread betting. Neither option involves taking ownership of any cryptocurrency, so you never need to deal directly with an exchange. Instead, we source prices from multiple exchanges, and offer our own buy and sell prices.
Yes, all of our 17, markets are available on mobile as well a desktop. Find out more about our mobile apps. Get answers.