24 May 2021 #Bitcoin
Cryptocurrencies have been around for well over a decade now, but it's safe to say they've only really been in the public eye since the first big crypto bubble of 2017-18. And even though a massive crash followed, the world started to take notice of digital assets, and the seeds were sown for the emergence of an entire industry. Fast forward to today, and we once again find ourselves at historic highs, practically dwarfing the previous peaks. The crucial difference this time around is that it isn't just crypto aficionados driving the growth but rather big institutional investors finally coming off the sidelines and welcoming digital currencies into the fold.
Traditional smart money isn't the only player in town now acknowledging the cryptocurrency revolution. Everyone from private corporations like Facebook to global central banks are taking steps to produce their digital assets. Not to mention the scores of established corporate players implementing architecture to help them utilise or facilitate crypto payments.
In this context, it is no longer in doubt that the crypto revolution is real and not just another bubble. Given the now undeniably transformative nature of digital currencies and the blockchain, many companies' success (or failure) in various sectors will depend on how they respond to this paradigm shift. At the very least, this fork in the road represents a generational opportunity to leverage cryptocurrencies and their underlying architecture to grow their businesses exponentially over the coming years.
Despite our history as a veteran Forex broker, we are utterly determined to make the absolute most of the coming mass crypto adoption. The logical way for a financial brokerage like us to enter the digital currencies market is to make it possible to trade them. In fact, Libertex has been offering such instruments for many years now, long before many of our other legacy competitors. Unlike other major CFD trading firms, we refuse to limit ourselves to only the big-name cryptocurrencies. Instead, we support both long and short positions in almost 70 different cryptocurrency pairs, spanning the most popular projects to even the most obscure altcoins. And while some platforms have sought to milk clients looking to trade these kinds of new-age assets, Libertex has laid a clear statement of intent by providing zero spreads and cutting our cryptocurrency commission by 50%.
This could be a very attractive proposition given the current hype surrounding Ethereum. While Bitcoin appears to have hit somewhat of a wall after correcting over 10% last month from its all-time highs above $63,000, Ethereum has nearly doubled in value. There's no denying that ETH currently has some serious momentum behind it, and all the analysis would suggest this is likely to continue. Much of Ethereum's popularity this year can be attributed to the boom in DeFi applications, which are based on the Ethereum blockchain and still in their infancy. As they continue to expand, interest in ETH can only be expected to increase commensurately.
Beyond Ethereum, the entire market is booming. Even if BTC and Dogecoin have corrected significantly, other serious gainers in recent weeks include Bitcoin Cash (up 200%) and XRP (up 50%). What's driving the growth across the entire space? Demand, of course. Cryptocurrencies are what people want to trade, and that trend is only going to intensify in the years to come as more and more on-the-fencers follow institutional investors into digital assets.
That's why we at Libertex are committed to providing a varied basket of these assets to our customers in an easy-to-understand and familiar format. With Libertex, you can trade CFDs in cryptocurrencies in the same way as you've been trading Forex and equities for years with none of the learning curve associated with other specialised platforms.
Unlike standard crypto exchanges, we also offer leverage to help you boost your potential gains even with a modest deposit. Create a Libertex account today to get access to all the biggest digital currencies and more in one intuitive and easy-to-navigate package!
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