Litecoin Gets Cloned As Plus500 Launches CFD
Last month saw litecoin’s market cap of circulated coins top $1 billion for the first time (although it has since fallen from that mark). Today, litecoin got the honor of becoming the second digital currency to have a contract for difference (CFD) launched. Created by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi and CFD broker, Plus500, the CFD mimics prices of litecoin, allowing customers to both buy and short the currency. The product launch comes after Plus500 became the first firm to launch a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that CFD back in May.
Unlike buying and selling actual litecoins, CFDs are synthetic trading products that track an underlying asset. CFDs exist for nearly all asset types, with the most widely traded following prices of commodity and equity index futures such as Crude Oil, Gold, the Dow Jones, and Nasdaq. Technically, the product is a contract between a broker and the client on the direction of prices of the underlying asset. However, in actuality, the product will appear in trading screens no different than any other asset, and is quotes with a bid and ask price, similar to any other tradable product. (CFDs became popular in the UK after taxes on stock trading led brokers to create non-taxed synthetic products that acted just like the real thing)
In the case of Plus500, clients will be able to wager on whether prices will rise or fall from current levels. However, unlike regular CFDs, the current issue from Plus500 has a daily expiration, meaning open orders will be closed at market prices at the end of each day. The daily expiration is similar to what was enacted in the firm’s bitcoin CFD last mont (more on that change).
Overall, even with the daily expiration, and lack of delivery of actual litecoins, the product does relate the growing interest into alternative trading products and helps provide added exposure to litecoins as well as other non-bitcoin digital currencies.
Last month saw litecoin’s market cap of circulated coins top $1 billion for the first time (although it has since fallen from that mark). Today, litecoin got the honor of becoming the second digital currency to have a contract for difference (CFD) launched. Created by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi and CFD broker, Plus500, the CFD mimics prices of litecoin, allowing customers to both buy and short the currency. The product launch comes after Plus500 became the first firm to launch a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that CFD back in May.
Unlike buying and selling actual litecoins, CFDs are synthetic trading products that track an underlying asset. CFDs exist for nearly all asset types, with the most widely traded following prices of commodity and equity index futures such as Crude Oil, Gold, the Dow Jones, and Nasdaq. Technically, the product is a contract between a broker and the client on the direction of prices of the underlying asset. However, in actuality, the product will appear in trading screens no different than any other asset, and is quotes with a bid and ask price, similar to any other tradable product. (CFDs became popular in the UK after taxes on stock trading led brokers to create non-taxed synthetic products that acted just like the real thing)
In the case of Plus500, clients will be able to wager on whether prices will rise or fall from current levels. However, unlike regular CFDs, the current issue from Plus500 has a daily expiration, meaning open orders will be closed at market prices at the end of each day. The daily expiration is similar to what was enacted in the firm’s bitcoin CFD last mont (more on that change).
Overall, even with the daily expiration, and lack of delivery of actual litecoins, the product does relate the growing interest into alternative trading products and helps provide added exposure to litecoins as well as other non-bitcoin digital currencies.