Cryptocurrency pairs and trading them
The main instrument used in Forex trading is currency pairs, this is the name of the asset for which orders are opened in the trader’s terminal.
After the emergence of cryptocurrencies, a new asset appeared - these are cryptocurrency pairs, in which the base component is the cryptocurrency, and the quoting currency is the currency in which the settlement is made.
At the moment, the US dollar is used as the quoted currency in most cases and only with rare exceptions the euro.
That is, the Bitcoin quote for the US dollar will look like BTCUSD - 5257 US dollars
Trading cryptocurrency using pairs is quite similar to trading regular currency pairs, but it still has its own characteristics.
The most popular cryptocurrency pairs are:
- BTCUSD – Bitcoin
- BCHUSD – Bitcoin Cach
- XRPUSD - Ripple
- LTCUSD - Litecoin
- ETHUSD - Ethereum
- DASHUSD – Dash
They can be found at almost every broker that allows you to trade virtual currency - http://time-forex.com/kriptovaluty/brokery-kriptovalut and it is for them that there are more attractive trading conditions.
Basic trading conditions:
1. Volumes – transaction volumes are calculated in lots, while one lot can be equal to from 1 unit as in the case of Bitcoin to 100 units if we consider Rippley.
2. Leverage – there are also differences depending on the broker providing the service; the size of the available leverage can range from 3 to 50.
3. Trading time – cryptocurrency pairs have given us a real gift, they can be traded 24/7, that is, seven days a day. week.
Finally, traders had the opportunity to earn money even on Saturday and Sunday. 4. The minimum transaction volume - for expensive cryptocurrencies (bitcoin, ethereum, litecoin, dash) is 0.1 lot, for cheap ones (ripple, eoc) 0.01 lot.
5. Swap – there is a negative one and it’s quite large, so you’ll have to choose intraday trading.
Brokers are expanding the list of instruments available for trading every day; in some brokerage companies, the number of cryptocurrency pairs in trading terminals already exceeds three dozen.
Trading cryptocurrencies on the exchange http://time-forex.com/kriptovaluty/treyding-kriptovaluty using a professional trading platform takes this trading option to a higher level, allowing you to increase your earnings several times.