The year 2008 marked the birth of the crypto market. It was in August when the domain bitcoin.org was registered and the description (White Paper) of the cryptocurrency was published. The author of this publication, entitled "Bitcoin: A Peer-to-Peer Electronic Cash System," was Satoshi Nakamoto. The same year, 2008, witnessed another significant event - the brokerage firm NordFX emerged in the financial services market.
NordFX in the Crypto Industry
Over the years, NordFX has not only firmly established itself but has also become one of the leaders in the online trading industry. It's worth mentioning that over 1,800,000 accounts have been opened by clients from nearly 190 countries worldwide with the company. NordFX has been honored with over 70 prestigious professional titles and awards, among which nine are for its accomplishments in the crypto industry.
The company holds titles such as 'Best Crypto Broker', 'Best Crypto Broker Asia', 'Most Trusted CryptoCurrency Broker', and 'Best Crypto Trading Platform' as per IAFT, Forex Ratings, Global Brands, Fxdailyinfo, Academy Masterforex-V, International Business Magazine, among others.
Invest or Trade?
The future prospects of the crypto market as a whole have long become the number one question for the entire digital community. There is no doubt that blockchain technologies will continue to exist and develop. However, opinions greatly diverge when it comes to the potential value of specific coins.
In such a situation, there are two paths: either act as an investor and wait for the price of your coins to rise, or actively trade them – earning both on their purchase and sale, depending on the current situation. This can involve short-term speculations lasting from a few minutes to a few hours, as well as mid-term and long-term trading. It's important to note that with NordFX, you can sell cryptocurrency even without owning it. There's no need to purchase Bitcoin or Ethereum to then sell it. Simply hit the sell button, and if the coin's value drops, you will receive a corresponding profit.
Trading can take place 24/7/365 without weekends or holidays. Deposits can be opened in USD, BTC, and ETH. For executing transactions, NordFX offers the most popular platform in the world - MetaTrader-4, which has an intuitive, comfortable interface and is equipped with numerous tools and indicators for graphical and technical analysis. Fans of fundamental analysis can draw necessary information from news and analytical reviews, which are regularly published on the broker's website and social networks.
Minimal commission and the order execution speed of just 0.5 seconds allow for profiting even from the most short-term price fluctuations. Lastly, an important factor is the possibility of margin trading. For example, to open a deal with a volume of 1 bitcoin, you only need $150, only $15 for a transaction in 1 Ethereum, and $0.02 for a trade of 1 Ripple. This means that traders can trade cryptocurrency volumes that are tens or even hundreds of times exceeding their own funds, significantly increasing potential profits (although this also increases trading risks, so special attention should be given to money management).
Crypto Trading Instruments
The wide range of cryptocurrency pairs offered by NordFX gives traders the opportunity to find the most advantageous trading opportunities at any given moment. In these pairs, the US dollar serves as the quoted currency, with the following cryptocurrencies acting as base currencies:
- BTC (Bitcoin): This is the most well-known and the first cryptocurrency, created in 2008-2009. Bitcoin is a decentralized digital currency that uses blockchain technology to ensure the security and verification of transactions.
- BNB (Binance Coin): Binance Coin is a cryptocurrency issued by the Binance cryptocurrency exchange. It's used within the Binance ecosystem to pay for transaction fees, participate in lotteries, and handle other payments on the platform.
- DOGE (Dogecoin): Dogecoin was created in 2013 and started as a joke cryptocurrency but then gained popularity in the crypto community. Dogecoin is based on a popular internet meme featuring a Shiba Inu dog. It's often used for microtransactions and social donations.
- DOT (Polkadot): Polkadot is a platform designed to create and connect multiple blockchains. It aims to provide a more efficient and flexible infrastructure for decentralized applications and digital assets. DOT is the token used within the Polkadot ecosystem, and it has several functions, including voting in network governance and ensuring blockchain security.
- ETH (Ethereum): Ethereum is a platform created for the development of decentralized applications and the execution of smart contracts. ETH is the primary cryptocurrency on the Ethereum platform and is used to pay for gas (fees) when executing transactions and deploying smart contracts.
- ETC (Ethereum Classic): Ethereum Classic is a cryptocurrency that is a fork of the original Ethereum blockchain. ETC emerged from a split that occurred after a hack on the Ethereum blockchain in 2016. Ethereum Classic maintains the principles of immutability and inviolability of the blockchain, rejecting the idea of rolling back transactions. ETC is used as a digital currency and enables users to execute smart contracts and develop decentralized applications.
- FIL (Filecoin): Filecoin is a decentralized data storage platform built on the blockchain. It allows users to rent out spare space on their computers for storing other users' data, rewarding them for providing this space. FIL is used as a token on the Filecoin platform and is used to pay for storage and data transmission services.
- LINK (Chainlink): Chainlink is an oracle platform that connects blockchains with real-world data and external information sources. It ensures the authenticity of the extracted data and provides smart contracts with access to off-chain information. LINK is the token used in the Chainlink ecosystem, and it plays a crucial role in securing and decentralizing the network. LINK tokens are also used as rewards for participants who provide data to the oracles.
- LTC (Litecoin): Litecoin is a cryptocurrency created as a "silver" analogue to the "gold" Bitcoin. It is based on the same blockchain technology as Bitcoin but has some technical differences. Litecoin provides faster transaction confirmations and has a more efficient mining algorithm. LTC is used for making payments and transfers, as well as for storing value.
- MATIC (Polygon): Polygon (previously known as Matic) is a scalable platform for developing and deploying decentralized applications on the Ethereum blockchain. It aims to solve scalability issues and high fees by offering faster and cheaper transactions. MATIC is the token used on the Polygon platform and it performs a number of functions, including paying for transaction fees, staking, and voting.
- SOL (Solana): Solana is a high-performance blockchain platform that provides fast and scalable transactions. It uses the innovative consensus algorithm Proof of History (PoH), which helps achieve high performance and low fees. SOL is the token used in the Solana ecosystem, and it performs functions such as paying for transaction fees, staking, and voting for network governance.
- UNI (Uniswap): Uniswap is a decentralized exchange based on the Uniswap protocol, which operates on the Ethereum blockchain. It allows users to exchange various Ethereum tokens and create liquidity by contributing their tokens to pools. UNI is the token used on the Uniswap platform. The UNI token was issued as a governance tool and has several functions. UNI token holders can vote on proposals and protocol changes, receive a share of the fees generated on the platform, and participate in the distribution of new tokens.
- XRP (Ripple): XRP is a digital asset and cryptocurrency developed by Ripple. It is used in the RippleNet system, which offers fast and inexpensive payment solutions for financial institutions. XRP aims to simplify global money transfers and provide liquidity for payments in various currencies. XRP tokens can also be used to pay fees on the Ripple network and to incentivize activity in the ecosystem.
Detailed information about the trading conditions for each of these cryptocurrencies can be obtained in the Trading Accounts section on the official NordFX website.
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