Along with Bitcoin and Ethereum, ayondo has now extended its cryptocurrency offerings to include Litecoin, Ripple, and Bitcoin Cash. All are available for CFD trading/Spread betting on TradeHub®.
Unfamiliar with these crypto-products? Check out the following information to learn more about these three unique currencies.
What is Litecoin?
Litecoin (LTC or XLT):
Market cap: $7.1 billion*
Litecoin is a cryptocurrency forked from Bitcoin. Developed by Charlie Lee (a former Google engineer), Litecoin was launched in 2011. It is a fully decentralised, open source, global payment network that offers a peer-to-peer internet currency. Like Bitcoin, Litecoin blocks are mined and miners are rewarded with Litecoins. However, the Litecoin blockchain is able to handle a higher transaction volume than Bitcoin.
Litecoin is an open source software under the MIT/X11 license (a free software licence), allowing for transparency and independent verification. It is easily integrated into online stores and applications and its fast transaction confirmation makes it suitable for small scale purchases.
What is Ripple?
Market cap: $25.7 billion*
Ripple was released in 2012 as a centralised payment system that makes use of blockchain technology to allow users to send money globally. Payments are settled much faster than other cryptocurrencies such as Ethereum and Bitcoin. Ripple enable users to securely and instantly make global transactions.
Ripple offers three solutions: xCurrent, xRapid and xVia. xCurrent offers “a cryptographically secure, end-to-end payment flow with transaction immutability and information redundancy” and is used by banks to process individual payments. It also allows real-time messaging and settlement.
xRapid allows source liquidity – payment providers are able to minimise liquidity costs. xVia allows corporates, payment providers and banks to send payments globally across various networks with rich information attached such as invoices.
What is Bitcoin Cash?
Bitcoin Cash (BCH):
Market cap: $13.0 billion*
Bitcoin Cash was started in 2017 by Bitcoin miners and developers as a solution to Bitcoin’s issue with scalability. It is a peer-to-peer electronic cash for the internet. It is a fork off Bitcoin so it is also decentralised and based on blockchain technology. Bitcoin Cash has a larger block size limit as compared to Bitcoin. This upgrade allows it to grow and scale, and is more efficient in terms of its transaction verification process.
The Bottom Line
These cryptocurrencies are now available on TradeHub® for investors to participate in price movements as a CFD or spread bet. This means you can go both long and short and no crypto wallet is required. You can also gain exposure by becoming a Follower and following Top Traders who trade these cryptocurrencies.
Trade Litecoin, Ripple, & Bitcoin Cash on ayondo today. If you don’t have an account yet, you can open one here.
*Prices and Market Caps are taken from CoinMarketCap.com on April 16, 2018.
The above-mentioned market views and content reflect only the opinion of the author, not that of ayondo. This service is for informational purposes only and does not constitute advice or investment advice.