Have you heard about the cryptocurrency Litecoin but you don’t know how to acquire it?
When you trade Litecoin CFDs, you don’t actually trade any cryptocurrency: you’re speculating on the price fluctuation of LTC against the USD. Yet your exposure to Litecoins’s price volatility reflects the actual market. On an exchange, you’d usually sell USD/EUR/GBP to buy LTC. If litecoin’s price increases, then you can sell your LTC for more USD than you paid for it, earning a profit. If you buy litecoin CFD then you’re opening a position that will rise in value as LTC’s price rises against the dollar. With both, you’ll make a loss if its price goes down. When you trade ripple using leverage, however, you only have to put down a fraction of your position’s full size as a deposit to start trading. That makes leveraged trading a powerful tool, but it also makes it risky – including the risk that your losses could exceed that original deposit. With a CFD provider, you can trade Litecoin CFDs.
LITECOIN CFD trading enables you to go short on Litecoin as well as long, which means that your position will grow in value if litecoins price drops against the dollar. If you go short and ripple’s price soars, you’d suffer a loss.