- Traded Cryptocurrencies Product
- Cryptocurrency Exchange
- Trading Fee
- Min. Funding
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|Cryptocurrency Trading Platform||Trading Fees||Account Opening Requirement|
|Kikitrade||HK$0||18 years or above HK resident|
|Myethshop||HK$0||18 years or above HK resident|
|Saxo||0.05% of trade value||18 years or above HK resident|
Cryptocurrencies are a digital means of exchange. In short, it is a digital version of money which uses cryptography as a means of security. Unlike traditional currencies,such as Hong Kong dollar or the dollar, most cryptocurrencies operate with no backing of an authority. Instead of a physical stack of notes or coins, cryptocurrencies are confined to the internet. Its value is determined by market forces.
The performance of cryptocurrencies can be volatile. Over the past year alone, Bitcoin’s price has risen as high as $50,000.
|Dogecoin||Kikitrade,Coinunited||Low entry cost|
|Litecoin||Kikitrade,Coinunited||Confirm transactions much faster than Bitcoin (only 2.5 mins required)|
You can buy cryptocurrencies including bitcoin on trading platforms like Myethshop,Kikitrade and Saxo. They are easy to use and you can purchase various cryptocurrencies such as bitcoin.
Another way to invest is through mining - the process in which a crypto is awarded to a computer that solves a complex series of algorithms. In the past, you may be able to mine bitcoin using an average computer but now it is not possible. Also, it is a deeply energy-intensive process, making it quite difficult for an individual to be able to mine bitcoin in this way.
What You Should Know Before Trading Cryptos?
Over-the-counter (OTC) trading is a trade made directly between two parties without the involvement of an exchange. It is usually organized among dealers in a marketplace with no central location. For OTC crypto trades, the two parties trade both crypto-to-crypto or crypto-to-fiat.