Admiral Markets offers contracts on Bitcoin, Ether, Litecoin and Ripple

Admiral Markets digital currencies

Forex brokerage company Admiral Markets just announced that the Admiral.Markets account now gives you the ability to trade the following instruments:

  • BTCUSD – Bitcoin vs US Dollar
  • ETHUSD – Ether vs US Dollar
  • LTCUSD – Litecoin vs US Dollar
  • XRPUSD – Ripple vs US Dollar.

All cryptocurrencies are based on blockchain technology, and are currently going through a surge in popularity, comparable to that of the Gold Rush of the mid-nineteenth century.

The major cryptocurrencies are purchased heavily during the crowdfunding stages of numerous blockchain-based startups.

There’s an increased demand for these currencies, which translates to rapid price movements, e.g. Bitcoin’s price has increased by 300% this year, while Ether’s price has skyrocketed by 5000%.

After reaching the peak price of around $400 per 1 Ether, it corrected by 50% in two weeks, with 8-12% fluctuations per day a regular occurrence, while Bitcoin ‘moderately’ declined (by 20%) within the same period.

Admiral Markets states that during the initial stages of this offering the following two rules will be in force:

  • You can be long only (i.e. open and close ‘Buy’ positions only). Short selling will not be allowed as all your transactions are backed by Admiral Markets on the exchange.
  • Your net exposure on any or all cryptocurrency instruments will not exceed 10,000 EUR or the equivalent.

The instruments are available for trading 24 hours a day, 7 days a week.

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