A cryptocurrency is a form of decentralized money. The decentralization of money eliminates third parties such as governments and banks in P2P transactions. Cryptocurrencies are issued on a blockchain system to ensure transparency and safety.
Blockchain brings about transparency by ensuring that all transactions are recorded in an immutable public ledger.
Crypto CFDs explained
Cryptocurrencies can be a unit of account, store of value, and also tradable asset. A crypto CFD is a financial derivative that allows the trader to speculate on the ups and downs of a specific coin without having to buy it physically. Crypto CFDs trading happens through specialized brokers and not crypto exchanges. The traditional buying and selling of digital currencies happen on crypto exchanges.
Crypto CFDs trading strategies
You can apply technical and fundamental trading research to generate crypto CFD insights. Technical analysis involves studying the price data of hundreds of CFD pairs to generate cyclical trends. These trends are used to place bets in the markets.
On the other hand, fundamental is all about news trading. This trading technique is the best in crypto CFDs trading. The BitiCodes tools will help you implement these CFDs trading techniques like a pro.