Digital currencies: Bitcoin, Ethereum, Ripple. How it All Started? Digital currencies were introduced to the world as early as the 1990s. The first digital currency was Bitcoin in 2009, with its own symbol and rate. Later, more and more types of cryptocurrencies were added by different agents, proving this flourishing market is here to stay. Late in 2016 their market share grew, alongside increased volatility and natural public interest. Little we knew it was only the beginning of an outburst of growth to these digital currencies, with a spike in 2017. During the first months of this impressive year, Bitcoin has more than doubled in value, Ethereum grew by 1,400% and many other currencies showed similar trends. March 2017 broke another glass ceiling for digital currencies, in which for the first time ever a cryptocurrency surpassed Gold in value.
This mega-powerful currency has not only opened the gate for other currencies, but also leads the cryptocurrency world with pride. It is governed to make sure no extra Bitcoin is produced, as a maximum quantity of 21 Million Bitcoin unites was agreed. When introduced, the price of $1 was 1,309 BTC. The wheel has turned, however, and when Bitcoin breached the $3,000 barrier in 2017, meaning 1 BTC was worth $3,000, it was certainly a meaningful milestone to Satoshi Nakamoto, the creator of Bitcoin.
Ethereum is more than just a currency – it’s like one giant computer housing many computers around the globe. Ethereum can respond to sophisticated requests. Its ability to store revolutionary computer programs gives Ethereum an edge on Bitcoin and has attracted attention from banks around the world. This, among other factors, has led to a jump of almost 1000% this year!
Ripple can be described as the next generation of payment networks. Originally set up to engage financial industry leaders, the digital currency has been a leading technology so far. This cryptocurrency has exploded over the past few weeks, when in just one day Ripple advanced by 71%
The very popular cryptocurrency, Dash, has been portrayed by many as Bitcoin 2.0. This digital asset was developed to remedy some of the weaker parts of Bitcoin. Developers added new features to Dash, making it faster and more anonymous to its predecessor Bitcoin. Over the past two weeks, Dash has increased in value by over 100%!
Litecoin is similar to Bitcoin in many of its characteristics, and is also one of the more veteran cryptocurrencies out there. However, there are two main differences between Litecoin and Bitcoin; Speed and amount. While it takes 10 minutes to create a Bitcoin block, Litecoin demands roughly 2.5 minutes to create a block – meaning 4 times the speed. Moreover, Litecoin attracts many users as it can produce 4 times the quantity of Bitcoin! However, as Litecoin uses highly complex cryptography, often mining it is more complicated than other cryptocurrencies.
CryptoCurrency Market Capitalizations
The Cryptocurrency Market
By the end of 2016, more than 700 digital currencies were introduced and co-existed, some doing better than others. Bearing that in mind, it came as no surprise that during 2017 the total trading volume of the digital currency market has reached $100,000,000,000. This phenomenal sum is even more astonishing when considering the simple fact that this market started only 8 years before. A big advantage of digital currencies is that they are not tied to a specific country or bank, therefore allowing them to be liquid not only during traditional trading hours, but also throughout weekend and holidays, allowing people to trade on them 24/7. With all these special characteristics of this unique market, it is important to understand the reason for the shifts that occur on a regular basis in the market. Looking at the forex market, EURUSD in specific for example, it is so large that a position of $100,000,000 for example, is relatively small in this humongous market and therefore its affect would not be on a large scale. The digital currency market, on the other hand, being significantly smaller, would be greatly affected by a deal of that scale. Therefore, among other factors, this market is not only highly volatile but also experiencing drastic trends.
Trading Cryptocurrencies with Plus500
Plus500 is not only a leading global broker, but also a pioneer in the digital currencies trading market. Being among the first brokers to introduce Bitcoin, and the first to add Ethereum, and Litecoin to its trading portfolio.The Plus500 trading platform is offered by Plus500UK Ltd. A UK based company with its offices located in the city of London. The company is authorised and regulated by the Financial Conduct Authority (FCA) to offer Contracts For Difference (CFD). The company is a rapidly growing CFD provider and currently offers its portfolio of over 2000 instruments. Plus500UK Ltd is a subsidiary of Plus500 Ltd; a company listed on AIM, one of the equity markets of the London Stock Exchange.
Why trade Bitcoin, Ethereum and Litecoin with Plus500?
They offer Bitcoin or Ethereum CFD trades with up to 1:10 leverage.
You can start trading Bitcoin or Ethereum from as little as £100/$100/€100.
Volatility makes for an excellent addition to any financial trading portfolio.
Plus500 offers zero commissions on Bitcoin or Ethereum trading and no bank fees charged on transactions, making it far more profitable.
Enjoy live language specific customer support around the clock.
Plus500 is 100% regulated to ensure a seamless trading experience.
The Bitcoin, Ethereum and Litecoin market is available to traders 24/7, for maximum convenience.
1-click functionality allows you to buy/sell Bitcoin or Ethereum on their Plus500 Platform via Windows Trader, Web-Trader, iPhone/iPad/Apple Watch, Android app and Windows Phone app.
How to Trade Bitcoin, Ethereum and Litecoin CFDs in 4 Easy Steps
1. Open a trading account with Plus500.
2. Fund your account.
3. Choose between Bitcoin or Ethereum or Litecoin contracts.
4. Start trading.
High Rated CFD Provider
Plus500 is one of the highest rated CFD trading apps on Apple’s AppStore and Google Play as it is simple to use yet powerful in its many advanced features. It also includes CFDs on popular financial instruments. They offer the complete package: Leverage of up to 1:300. Tight spreads. No commissions. Fast and reliable order execution. Plus500 Mobile App Download Now.
Risk Disclosure Notice
CFD’s can put your capital at risk if used in a speculative manner. CFD’s are categorized as high risk by some regulatory authorities as there is no protection of capital, no guaranteed return and customers can lose the amount invested. With the Plus500 Trading Platform it is not possible to lose more than the amount invested and customers cannot be left in debt to Plus500. Trading CFD’s is not suitable for all investors; make sure you fully understand the risks involved.
Plus500 Licensing Information
Plus500 Ltd operates its CFD business through its subsidiaries: Plus500UK Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA), FRN 509909; Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. Derivatives issuer licence in New Zealand, FSP #. 486026 authorises they to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorized Financial Services Provider in South Africa, FSP 47546. You do not own or have any rights to the underlying assets. Please consider the Disclosure documents available on their websites. Plus500CY Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) SEC registration number 250/14.