Cryptocurrencies have been gaining popularity in the markets since 2009. Cryptocurrencies tend to be driven by investor interest, technological advancements and the availability of e-wallets, so they exhibit the highest volatility of any asset class.
We offer the best cryptocurrencies with leverage up to 1:20, namely Bitcoin, Ethereum, Litecoin, Dash, Ripple, Bitcash, Cardano, Polkadot, Stella, Chainlink, EOS, and we will be adding more in the near future. Due to their virtual nature, cryptocurrencies are not backed by any real commodity or central bank, although they are quoted in conventional currencies such as the U.S. dollar.
In fact, cryptocurrencies rely on the law of supply and demand just as the value of stocks or currencies do. Therefore, the price of cryptocurrencies fluctuates depending on the number of people who want to buy or sell them at a given moment.
Everyone is just talking about cryptocurrencies these days! But what are these mysterious cryptocurrencies? Let's dive into the world of cryptos!
Cryptocurrencies are one of the newest innovations in the financial world. It is essentially a decentralized network where transactions can be conducted without intermediaries! Simply put, transactions can be conducted without the involvement of intermediaries such as centralized authorities and financial institutions.
The price of cryptocurrencies is largely determined by the speed of their adoption. Given the decentralized nature of the market, they tend to remain untouched by the economic and political factors that usually affect traditional currencies.
Cryptocurrencies are growing at a tremendous pace as the blockchain network opens up new opportunities every day. Break into crypto trading with L&M Group, and start trading some of the biggest names: CFDs on Bitcoin, Efirium, Lightcoin, Cardano, Ripple, Stellar, Chainlink, Solana and EOS! When trading CFDs on cryptocurrencies, a trader speculates on their price movements without actually owning the underlying asset.
Cryptocurrencies are an extremely volatile asset class due to the huge number of short-term speculative interests, so skills in identifying and managing risk are essential.