Over the past year, AvaTrade has steadily added crypto instruments to its offering as client demand continues to see growth.
There is good news for cryptocurrency enthusiasts and AvaTrade clients!
Award-winning Forex/CFDs broker AvaTrade announced that they have added additional 3 new cryptocurrency instruments to their suite of CFD offerings:
Did you know?
Because of the huge demand by clients that since mid-2017, AvaTrade has been steadily adding cryptos to their suite?
The latest count?
They now offer 18 coins in total!
There are 3 New Crypto Pairs on The Block!
We are thrilled to announce the expansion of our crypto range by 3 new pairs:
NEOUSD, EOSUSD & MIOTAUSD.
Give them a go today! https://t.co/BfDFOrewYR more – https://t.co/AT7FHALxKR pic.twitter.com/101yjOx6p1
— AvaTrade (@AvaTrade) July 4, 2019
The exciting news is that the strong growth and acceptance of cryptocurrencies in financial institutions and by investors and traders has seen many brokers offering CFD derivatives to their clients.
Here’s the kicker
Shortly before the launch of the 3 additional cryptocurrencies announcement by AvaTrade, the European regulators published a set of rules on offering crypto CFDs.
Which just goes to show how popular cryptocurrency CFD derivatives have become amongst traders and investors and the huge demand.
AvaTrade is already ahead of the game and has re-labeled some of their existing instruments with new USD labels:
- Ethereum is now ETH/USD
- Ripple is now XRP/USD
- Litecoin is now LTC/USD
That’s not all…
AvaTrade also relaunched their affiliate program last year with modified terms with the intention of attracting more cryptocurrency clients.
The program is geared towards cryptocurrency traders.
Bitcoin is gaining momentum and hit a high of $13,844.77 on June 7, rebounding from multi-year lows.
So far for this year, it has appreciated over 100% against the US dollar, so have other cryptocurrencies such as Ethereum and Ripple.
The recent launch in June by Facebook’s crypto Libra coin also stirred things up in the market place.
According to Kenetic Capital co-founder Jihan Chu, they are predicting that Bitcoin price is going to grow significantly bigger next year.
Ten years out from the Bitcoin story, and we are starting to see the story become a reality. and what people are really seeing now is that cryptocurrency is not going away”
– Jihan Chu.
What does this mean for you as a trader?
Simply, volatility and volatility is an ideal environment for traders and investors in CFDs.
Remember the bear run in cryptos in as the prices soared making millionaires of those who bought Bitcoin when the prices were low?
Well, the bets are that this could be the beginning of another bear run which is starting to unfold before our eyes.
Here’s the deal:
When you trade cryptocurrency CFDs (contract for difference) at AvaTrade, it means that you are able to speculate on their rising or falling prices.
As long as your market speculation is correct, you can make a profit regardless if it’s going up or down.
The best part?
Aside from cryptocurrencies, you can also trade on other fast-moving global financial markets (or instruments) such as shares, indices, commodities and currencies.
And you know what?
Trading CFDs also means that you are only investing in their price, you don’t actually buy them.
With AvaTrade, you have the advantage of choosing from a wide range of advanced trading tools with great leverage and risk management tools like stop orders.
Now, we will take a look at the new addition to AvaTrade’s platform: NEO.
NEO is currently ranked at # 13 amongst cryptocurrencies and is known as the ‘Chinese Ethereum’.
Originally, it was known as AntShares and was founded by Da Hongfei and Erik Zhan in China, it was later rebranded ‘NEO” in June 2017.
The platform is based on blockchain technology and has a number of unique features such as P2P networking, dBFT consensus, superconducting transactions, digital certificates and cross-chain interoperability.
There are 2 crypto coins that are supported by NEO: NEO and GAS with programming languages that include, Go, Java, C#, Kotlin and Python which gives developers easy access to its platform.
The underlying design supports multiple types of digital assets. Users can transfer, register and trade at will over NEO.
Assets that are registered on its platform have a validated digital identity, protected by law. It is also decentralized, free of intermediaries and any associated costs.
It is different from most cryptocurrencies in that the Onchain technology has a centralized approach and is regulator-friendly, adding to its potential of becoming the cryptocurrency of choice in China.
NEO gets an investment partner Onchain
Onchain provides blockchain solutions to various enterprises and is an independent technology company whose focus is on the creation of consortium and private blockchains that meet specific needs in the industry.
This includes finance, medical science, entertainment and lifestyle.
Onchain is funded and backed by Fosun, China’s largest private conglomerate. They have an endorsement for DNA from the government of Guiyang in China.
Da Hongfei, founder of NEO, said that he chose Fosun as an investment partner because they have a good synergy with blockchain tech and they highly value the enterprise resource that Fosun provide.
Both the companies envision that in the future, they will be able to achieve cross-chain interoperability, filling the gap with ongoing work.
Both NEO and Onchain are top contenders for a Chinese alternative solution after rumors that the Chinese government was experimenting on its own national cryptocurrency.
EOS is rated # 5 and is a smart contract which has a user-friendly fee structure.
It was founded and created by Dan Larimer who also created the Bitshares and Steem platforms. It is currently owned by the block.one-organization.
Being blockchain-based, it has a powerful infrastructure for decentralized applications that allows for development, hosting and accomplishes commercial-scale decentralized applications.
Here’s an interesting thing:
It works similar to Google’s Play Store and Apple’s App Store with a web toolkit for development for the interface.
EOS has all the core functionality that is required for businesses and individuals to create their own blockchain applications such as data hosting, authentication, usage management, permissioning and communication between dApps and the Internet.
It has EOS.IO and EOS tokens a cryptocurrency of the EOS network with EOS.IO similar to the operating system of a computer and manages and controls the EOS blockchain network.
What makes EOS promising?
EOS can solve problems of speed, scalability and flexibility.
To be eligible to use the network resources and to build and run dApps, a developer needs to hold EOS coins.
What’s more, if you are a token holder that isn’t running apps you are able to allocate/rent your bandwidth to other users.
When EOS made their ICO, they had realistic market prices with an aim to spread tokens far and wide.
- During a 5 day period starting from June 26, 2016 to July 1, 2017, 200 million tokens or 20% were initially distributed.
- 700 million tokens or 70% are being distributed on an ongoing basis of 2 million per day for 350 days.
- 100 million (10%) are in escrow for block.one to keep their incentives in line with that of the EOS community. Block.one’s tokens will vest over a 10-year period at 10 million tokens a year.
And you know what?
They can be kept in multiple wallets with the inclusion of Ethereum Wallet, MetaMask and MyEtherWallet and in addition, can be traded on the following exchanges, Bitfinex and YoBit.
Happily, for traders, they don’t need to go through an exchange. They can now trade EOS on AvaTrade’s platform.
IOTA is rated at #9 with a union of the IoT and blockchain technology with zero fees.
Let us explain…
Its distributed ledger records and executes transactions between machines, helping to manage and utilize smart devices in an effective way in real-time anywhere in the world.
IOTA’s cryptocurrency is mIOTA and IOTA has agreements with various German powerhouse companies like Volkswagen and Bosch.
The mIOTA cryptocurrency allows micropayment transaction between connected devices.
Here are some of their other solutions:
IOTA has a Tangle architecture which makes Micro and nano transactions easier, creating new business opportunities for payment transfer fees.
Transferring data through the Tangle Ledger makes for secure and authenticated channels between devices. Any data that is transferred is fully authenticated and tamper-proof.
This means that for eGovernance organizations, it is uniquely suited as it allows for secure data transmission as is in the case of voting.
Here’s the cool thing:
Multiple parties can share sensitive data with quantum-proof security easily through the Tangle which is the transaction storing and processing mechanism of IOTA.
IOTA’s network is faster and lighter than bitcoin’s blockchain network, according to its development team.
They envision being the carrier for transactions in the future, with IoT enabled devices expected to multiply to 20.4 billion by the year 2020.
And here’s the deal:
AvaTrade is the recipient of numerous prestigious awards and is regulated by a number of financial bodies such as:
- Australian Securities and Investments Commission (Australia)
- Financial Futures Association (Japan)
- Commodities Futures Association (Japan)
- Financial Services Commission (British Virgin Islands)
- Central Bank of Ireland (Ireland)
- Financial Services Board (South Africa)
They offer a range of powerful trading platforms that will suit any trader.
Take a look, there is MetaTrader 4, AvaTradeGO, AvaTradeAct, Floating Spreads, MT4 – Spread Betting, AvaOptions, Automated Trading, Web Trading, Mac Trading, Mobile Trading.
All of these come with advanced financial trading tools and graphs.
Here’s the most important part
When it comes to cryptocurrencies, AvaTrade is one of the few brokers to offer the hottest cryptocurrencies like NEO, IOTA, Otum, Monero, Zcash, Dash including Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin.
AvaTrade offers traders great perks to enhance your trading experience:
- Minimum account size of only $250
- Choice of over 250 assets
- Minimum lot size of 0.01
- Maximum margin of 1:400
- Excellent bonuses (terms and conditions apply)
- Free demo account with virtual money
- Excellent support easily accessible through email, live chat and phone
- Plenty of platforms that come with advanced tool and graphs
- Education programs – video tutorials, webinars and e-books
- Daily financial news and alerts
- Latest breaking news
Here’s the kicker
Avatrade has also reduced the fixed, floating and options spreads across the majors by an average of 35% and on some FX pairs up to 50%.
What this means is that you now have an amazing trading advantage.