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What is a cryptocurrency?
A cryptocurrency is a digital asset stored on a decentralized network called blockchain technology, that serves as a type of currency or store of value. Crypto’s are a relatively new market compared to Indices or Stocks. However, Unlike traditional currencies, cryptocurrencies aren't backed by any centralized government or developed economies.
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What is Cryptocurrencies Trading?
Cryptocurrency trading is a relatively new instrument, which can be highly volatile depending on market conditions. Due to cryptocurrency being a digital currency it uses cryptography as a form of security.
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- Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Polygon (MATIC) are the most frequently traded cryptocurrencies traded on the Option2Trade platform.
- Trading CFD’s can benefit cryptocurrency traders as you can profit from the price movement without owning the underlying asset.