Litecoin

WHAT IS LITECOIN?

Litecoin is a peer to peer digital currency, similar to Bitcoin and ripple. Litecoin uses the similar encryption methods to other cryptocurrencies to transfer and create funds.

The creation and the transfer of the coins is based on an open source cryptographic protocol and is not managed by any central authority.

Litecoin aims to process transactions much faster than Bitcoin.

HOW CAN I TRADE CRYPTOCURRENCIES?

To trade Litecoin, you would need access to a crypto currency exchange and a virtual wallet to store them in. However, when you trade CFDs on Litecoin with ADSS, all you need is an ADSS CFD trading account.

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:

Availability

Litecoin is similar to  Bitcoin, as there is a limit to the supply of Litecoin the maximum supply is 84M Litecoins..

Strong acceptance

The Litecoin ecosystem is constantly changing vis-a-vis the adoption of the cryptocurrency among both individuals and institutions.

Government legislation

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.

Media coverage

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.