Litecoin CFD Trading
Litecoin has established itself as the leading competitor to Bitcoin, and now you can trade this exciting digital currency with 31FX. When you trade Litecoin CFDs with 31FX you can trade long or short (buy or sell) instantly, so you can act on your analysis whether you’re optimistic or cynical about the future of digital currencies.
- Trade Litecoin with leverage Up to 20:1
- Trade on the powerful MetaTrader 4 platform
- Trade wherever you are with our free tablet and mobile apps
- Enjoy the security of trading with a regulated broker
- Get live support in your language whenever the markets are open
- The Litecoin market is available to traders 24/7, for maximum convenience
- Both manual and automated trading platforms available
What is Litecoin?
An open source internet currency that allows for instant, near zero cost peer-to-peer payments across the world. The Litecoin blockchain is capable of handling higher transaction volumes unlike its forefather the Bitcoin.This would be fairly due to it’s a more frequent block generation where the network supports more transaction without a need to modify any future software. As a result, merchants gain faster payment confirmations.
The Science of Litecoin
Electronic mining of Litecoins currently allocates miners 50 new Litecoins per block, of which this amount is halved every 4 years or approximately every 840,000 blocks. The network for the Litecoin is set to produce 84 million Litecoins which sums up to 4 times the amount of bitcoin units.The distribution of Litecoins is done by wallet encryption, that secures the safety of the coins as well as allows you to view your transactions.
Why CFDs make sense for Trading Litecoin:
As CFDs allow you to speculate on the price of Litecoin future market movements, without physically owning the coin. Traders whether buying or selling are able to agree to pay on the difference on the price even if it rises or falls. In addition, they can to tap into the benefits and risks without actually owning the coin and benefit from:
- Security – You don’t have to worry about your Litecoins being stolen. CFDs are a derivative product. Your potential profits are based on the movement of the Litecoin price but no Litecoins are bought or sold in your name.
- Simplicity – Buying cryptocurrencies directly can be complicated. With 31FX CFD trading it’s as easy as selecting Litecoin from a menu and clicking to sell or buy. It’s so simple you can do it on your mobile or tablet too.
- Get leverage of up to 20:1 – As a financial derivative you can trade CFDs on leverage, meaning you can open a larger position in the market.
- Diversify – As one of the world’s leading CFD brokers 31FX offers a wide range of CFD products and Forex pairs for you to trade, all from a single platform.
Litecoin – Silver to Bitcoin’s Gold
Litecoin is a peer-to-peer, decentralised digital currency (also known as a cryptocurrency) based on the Bitcoin system. The creators of Litecoin sought to adapt the Bitcoin model to develop a more stable and efficient currency.There are several key differences between Bitcoin (and its spin-offs Bitcoin Cash and Bitcoin Gold) and Litecoin, including the way coins are “mined”, security procedures, and the total number of coins destined to be produced.In 2013 Litecoin’s value rocketed from less than $0.01 to more than $20. Could Litecoin follow Bitcoin’s lead and keep on rising in value? With 31fx you can enter and exit the markets, with our speedy execution and leveraged positions. Practice on our 21-day demo account and feel your way through trading Litecoins and getting to know your way around our platforms.