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Ethereum Classic a New Forex Trading Option

August 16, 2018 August 16, 2018 David Nugent

If you have an interest in trading on the values of cryptocurrencies, then it will certainly not have escaped your notice that there are always brand new ones becoming available, but there are only a limited number of them that Forex Brokers will allow you to pair up in any trades you do fancy placing that they have on offer on their trading platforms.

It does tend to be the major cryptocurrencies such as Bitcoin, Ethereum and the low cost cryptocurrency Ripple that you will find listed as a potential digital currency pairing at the majority of Forex Brokers. However, a new fork of the Ethereum blockchain has recently been launched.

The name of the fork and cryptocurrency is Ethereum Classic, and it has certainly been proving to be just as popular as it older  sister and much longer established cryptocurrency, that being Ethereum!

In fact, since its only very recent launch Ethereum Classic has already become a cryptocurrency with a huge market capital of a huge $1,429,526,999 and as such is a digital currency that investors and users are taking very seriously, and it is now beginning to appear on many Forex Broker trading platforms, so you can choose to pair it up with other cryptocurrencies and fiat currencies too.

Ethereum Classic on an Upward Trend

Over the last 24 hours I have been monitoring the value of the top 10 cryptocurrencies and most of them have been showing a slight drop in their values over that period of time, which is nothing unusual it does have to be said.

However, that has bot been the case with Ethereum Classic which is currently the eleventh largest cryptocurrency by market capital, and over the last 24 hours its value has soared by a massive 14.22% and it may just continue to soars in value over the days and weeks ahead too.

Inadvertent Risks of Cryptocurrency Trading

I would always advise caution if you are a first time or novice Forex trader regarding getting involved in paring up cryptocurrencies in any upcoming trades you make, for before you ever set about doing so you will need to be fully aware of the risk cryptocurrencies can pose.

They are much more volatile that fiat currencies, however that does make them a ripe candidate for Forex trades, and if and when you do fully understand the risks then you should be best placed to pair them up in trades, be certainly not before you know of those risk and investigate them thoroughly!

About The Author

David Nugent

Editor

Hi, my name is David and I am the chief editor of legaltradingreport.com, I am proud to bring you all latest legal matters concerning the trading industry be it forex or binary even the hot new kid on the block Crypto..

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