Cryptocurrencies can be traded 24 hours a day on exchanges around the world. If you trade on a stock exchange, you are trading real cryptocurrency, which will be stored on the stock exchange, or in your own software or wallet.
Choosing to trade via GlobalCTB Reviews allows you to trade cryptocurrencies via a CFD (contracts for difference). This defines that you will not really own the underlying cryptocurrency, but will be able to participate in the price changes by taking long and short positions using leverage.
Introduction to cryptocurrency
Bitcoin is the first cryptocurrency and was introduced in 2009. It is also the strongest and most widely traded. Bitcoin is considered both as a safe haven and a medium of exchange, and it is these two elements that give it its value. The Bitcoin code has been copied and modified by many other teams using similar digital currencies. However, bitcoin remains stronger than all other cryptocurrencies combined.
Ethereum is a blockchain similar to the Bitcoin blockchain, but includes additional features allowing the execution of contracts and smart applications. This allows all computers on the network to act as a giant decentralized computer, and third-party applications can be run by this giant computer.
Ripple is a company that creates blockchain-based solutions for the international banking sector. These solutions use Ripple’s own cryptocurrency, XRP, which trades freely like other cryptocurrencies. Ripple is tested by several of the largest banks in the world. Given that the interbank money market is the largest market in the world, if the tests are successful, the XRP will play an important role in supporting its value.
Litecoin is the sixth strongest cryptocurrency in the world and can also be one of the most profitable cryptocurrencies for traders. It is widely listed on the stock market, which gives it good liquidity and better price discovery. Litecoin is also strongly correlated with Bitcoin and often follows the price fluctuations of Bitcoin.
Litecoin is identical to Bitcoin in many ways, but has unique features. Transactions on the Litecoin network are carried out in 4 times less time than on the Bitcoin blockchain. Litecoin is also easier to use, and the creators hope that this will lead to greater decentralization of the network.