Following the rapidly growing demand for digital currencies, Forex.ee team would like to tell you in details about cryptocurrencies available for trading on our crypto-accounts and possibilities of using them in Forex.ee.
The first cryptocurrency we would like to tell you about is the parent of all other altcoins and the largest digital currency – Bitcoin (BTC). At the moment, the capitalization of Bitcoin exceeds 40 billion US dollars and continues to grow rapidly, as Bitcoin finds more and more users due to its low cost transactions, availability, convenience of use and hi-tech solutions. Many companies around the world accept payments via this electronic system. For example, in a number of developed countries you can already buy home appliances or order food delivery for the virtual currency, change your bitcoins in special ATMs into local currency and even make utility payments.
The dynamics of bitcoin is showing huge growing pace. Over the past few months, Bitcoin has grown 3 times, having risen from the level of 901.19, posted on March 25, 2017, to its historic high, reached on May 25, at the level of 2,736.58. At the moment, bitcoin is trading in the area of 2370.00.
The average spread of the BTC/USD pair is 1-2 dollars.
Also in the list of instruments with bitcoin in Forex.ee you will find such pairs as BTC/EUR, BTC/RUB, BTC/USD, BTC/JPY, BTC/CNH, LTC/BTC, NMC/BTC, PPC/BTC, DSH/BTC, EMC/BTC.
Another cryptocurrency, available for trading in Forex.ee, which we will talk about is Litecoin (LTC), also commonly called as digital silver. Litecoin was created as an alternative to Bitcoin, but unlike BTC it has a higher level of maximum emissions (up to 84 000 000 litecoins in the network, which is four times more than the maximum number of bitcoins) and a higher block generation speed, which allows to confirm transactions faster. At the moment, Litecoin is the sixth-largest cryptocurrency by market capitalization with a total market capitalization of 1.3 billion US dollars.
Since March 2017 LTC was also showing huge volatility, having soared from the level of 3,8000 to its absolute maximum of 36,2510, however, having failed to keep its position and lowered to the level of 15,0000. Nevertheless, Litecoin like the other major cryptocurrencies has resumed its upward dynamics and now is trading at the level of 28 US dollars.
The average market spread of the LTC/USD pair is 6-8 US cents.
Pairs available for trading in Forex.ee with Litecoin: LTC/BTC, LTC/EUR, LTC/RUB, LTC/USD, LTC/JPY, LTC/CNH, ETH/LTC
Ethereum (ETH), also called as Bitcoin 2.0 or “cryptofuel”, is undoubtedly another leader by capitalization and popularity among all other cryptocurrencies. The capitalization of Ethereum at the moment is more than 20 billion US dollars, which puts it on the second place (after bitcoin) by the total market capitalization. However, Ethereum is not a cryptocurrency in the full meaning of this word, since developers originally designed it, as a platform, based on the blockchain technology, for creating online services with the help of smart contracts.
In addition, Ethereum takes one of the leading positions in terms of the volatility in the financial market and in Forex.ee among the major cryptocurrencies. Since March of this year Ethereum has grown for more than 15 times, having risen from the level of 15.9411, which was posted on March 2, to its historic high, marked at 230,2671 in May 2017.
Pairs available for trading in Forex.ee with Ethereum: ETH/USD, ETH/BTC, ETH/LTC, ETH/RUB, ETH/JPY, ETH/CNH
The average market spread of the ETH/USD pair is 20-30 US cents.
In the list of Forex.ee instruments, you will also find pairs with the following cryptocurrencies: Namecoin (NMC), Peercoin (PPC), Dashcoin (DSH) and Emercoin (EMC)
Commission on crypto accounts is 0.25% of trade volume in base currency per one side.
Undoubtedly, the rapid growth of digital currencies, seen lately, indicates a huge demand throughout the financial market, which was fueled by such events, as acknowledgment in Japan the use of the electronic payment systems, opening the first US Regulated exchange and clearing house for digital currencies. In addition, a worldwide trend of lifting restrictions on the use of crypto payments is developing, recently was joined by such countries as Russia and India.
We would also like to draw your attention to the fact, that Forex.ee has joined this trend as well, adding to its services a new opportunity – opening ECN-accounts with the base currency in Bitcoin, thus completely reducing your conversion costs and substantially simplifying the use of our services.
Moreover, Bitcoin is also one of the most beneficial payment systems in Forex.ee with 0% commission when depositing and only 0.001 BTC when withdrawing funds.
You can open a new trading ECN-account with the base currency in bitcoins here.
In conclusion, the Forex.ee team once again would like to thank all its customers for their loyalty. Follow the trend and earn on the growth of the most perspective financial instruments in Forex.ee!
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