Cryptocurrencies are digital currencies that are not controlled by central banks and governments.
- Cryptocurrencies are traded on specialist platforms
- You can also trade cryptocurrency price movement using CFDs
- Cryptocurrencies are not correlated to normal economic factors like interest rates
Cryptocurrency Analysis and Insights
- Bitcoin extends rally July 24, 2018 5:25 PM
- Can Bitcoin sustain its rally? July 18, 2018 4:56 PM
- Bitcoin drops to lowest since February June 13, 2018 1:04 PM
- Ethereum maintains bullish bias May 15, 2018 11:07 AM
- Ethereum leads crypto upsurge as stocks slump May 3, 2018 5:41 PM
Open a live account in minutes
What are Cryptocurrencies?
Cryptocurrencies were born to serve a need for cross-border currency transactions and payments outside the conventional banking system. Their inventors were looking for a cheaper way to make payments. Since then the Cryptocurrency market has expanded massively, involving everyone from large banks to small investors.
The Cryptocurrency market is composed of over 1500 different Cryptocurrencies, but only a handful of widely recognised market leaders, like Bitcoin, Bitcoin Cash, Litecoin, Ripple and Ethereum.
Cryptocurrencies are not traded on a central exchange. Each Cryptocurrency is different in terms of the way new currency is created. Trading Cryptocurrencies can be done via special electronic wallets though it can sometimes take hours or even days to make a transaction.
Like normal foreign exchange markets, the Cryptocurrency market can be fast-moving and quickly impacted by positive or negative news. The infrastructure supporting Cryptocurrencies is still in its infancy. You can still trade Cryptocurrencies using contracts for difference (CFDs).
Cryptocurrency prices are driven by news flow for the most part, particularly news affecting the ongoing development of individual Cryptocurrencies, and the wider acceptance of Cryptocurrencies by the banks and regulators.