New currency pairs for cryptocurrencies
Cryptocurrencies are among the most unpredictable instruments in terms of fundamental analysis.
But at the same time, technical analysis of the behavior of the crowd, major players and, in general, graphical patterns in this young market demonstrate unprecedented efficiency.
In addition to the effectiveness of technical analysis, you can add unprecedented rates of growth and decline of a given asset, namely, overcoming 10 percent in one direction or another in the price during the day is not a problem.
However, despite the huge number of cryptocurrencies and pairs with them on specialized exchanges, Forex brokers are in no hurry to introduce a huge number of them into their platforms.
It is also worth noting that the limited number of crypto pairs leads to the fact that traders and investors cannot hedge their risks, since a simple currency pair simply cannot block the price movement that can be observed in Bitcoin.
Broker Amarkets is one of the first brokers that allowed cryptocurrency trading for its traders. Until recently, a number of instruments were represented by only seven crypto pairs, which were some kind of industry leaders.
However, the company felt increased demand from traders and investors, so in order to satisfy their interests, Amarkets introduced seven more cryptocurrencies, which are popular cross-rates for Bitcoin, into circulation, as well as a new instrument - Bitcoin Cash.
Trading conditions for new cryptocurrencies
As we have already noted, the Amarkets broker has significantly expanded the list of cryptocurrencies that are available for trading to all traders of the company.
Since cryptocurrency trading is far from the cheapest type of trading, moreover, it is specific and very different from foreign exchange, everyone should be clearly aware of the specifications of a particular contract.
So, we suggest making a brief introduction to each crypto pair. 1. BCHBTC is a new cryptocurrency pair that includes such instruments as Bitcoin Cash and Bitcoin.
It is worth noting that Bitcoin Cash appeared in 2017 as a result of a fork of one of the blocks from Bitcoin. The size of one lot is 1 Bitcoin Cash. The size of one point is 0.00001.
The minimum trading lot is 0.1, and the maximum lot is 50. The margin requirement is 20 percent, and to open 1 lot for this currency pair you will need $656. The cost of one pip on BCHBTC is $0.96. 2. BTCEUR is a crypto pair that consists of the crypto currency Bitcoin and the European single currency Euro.
If we talk about the specification of the instrument, then to open one position with a whole lot, a trader needs a deposit of $962, since one trading lot will be equal to one bitcoin.
The minimum position volume is 0.1 lots, and the maximum is 50 lots. The cost of one point is 0.12 dollars. 3. DSHBTC is a crypto pair that consists of decoin and bitcoin.
To open a position of one trading lot, you will need to have a deposit of $140 in your account, and the value of one pip will be $0.96. 4. ETHBTC is a crypto pair that consists of Ethereum and Bitcoin.
The size of one trading lot is equal to 1 ether. To open a position of one trading lot, a trader must have a deposit in the account of $83, while the cost of 1 point of the price movement will be $0.96.
4. BCHUSD is a crypto pair that consists of the crypto currency Bitcoin Cash and the US dollar.
The size of one lot is 1 bitcoin cash. To open a position with one lot, the deposit is $429, while the cost of one pip is $0.01.
6. LTCBTC is a crypto pair that includes Litecoin and Bitcoin.
To open one position with 1 lot, a deposit of $165 is required, while the cost of one pip will be $9.62. 7. XRPEUR is a crypto pair that consists of the crypto currency Ripple and the European currency Euro.
To open a position with one trading lot, a deposit of $76 is required, while the cost of one pip will be $0.12. In conclusion, it is worth noting that the emergence of various crosses for cryptocurrencies allows traders to build safer trading strategies, since they have the opportunity to hedge risks.
Broker Amarkets website - https://www.amarkets.org/