A major advantage of trading Litecoin as a CFD is that it is as easy to go short as it is to go long meaning, you can benefit from rising prices as well as falling prices but remember you never actually own the actual currency as it is a CFD on Litecoin.
We quote Litecoin against the US dollar and you can trade CFDs on Litecoin by opening long and short positions on our OREX platform.
WHAT AFFECTS LITECOINS PRICE?
Litecoin is different than other conventional currencies in the way that it is not affected by news or economic and political events, but its value is affected by the following:
Litecoin is similar to Bitcoin, as there is a limit to the supply of Litecoin the maximum supply is 84M Litecoins..
The Litecoin ecosystem is constantly changing vis-a-vis the adoption of the cryptocurrency among both individuals and institutions.
Governments are still adapting to cryptocurrencies, with considerations for regulation and new guidelines still being under review in many countries. Any substantial news release relating to regulatory pressures on crypto currnecies may affect their price.
Negative news, especially related to security lapses and hacks, can negatively affect the general perspective of Litecoins value.
LEARN MORE ABOUT OUR CRYPTO CURRENCY OFFERING
With ADSS, you can trade a cryptocurrency CFD on:
Risks Of Trading Cryptocurrencies Via A CFD?
Cryptocurrency CFDs are a high risk investment as they can be subject to extreme volatility, and an investor may be exposed to a number of additional risks that may be not be present in CFDs in other asset classes.
For further information on these risks please refer to our Cryptocurrency CFD Risk Warning.