Trading Litecoin using Margin
The cryptocurrency industry is a constantly booming trade industry, in fact, as of March 19, 2018, there were over 305.61 million transactions recorded in a single day. This is an increase of 48.27% compared to the same date, the previous year.
Websites that use margin for trading Litecoin
Given the steady rise of the cryptocurrency trade, innovations are constantly being added in order to make cryptocurrencies a lucrative alternative to cash. One of this innovation is called Margin Trading.
Margin Trading is where the user can make trades by using money borrowed from a brokerage. To give a clearer example, let's assume you have $20 on your pocket, and the margin trading you are using allows a leverage of $100.
In this example, if you plan to buy Litecoin and it is valued at $120. You can use your money and then use margin option in order to have exactly $120. This will help you complete your purchase.
Margin trading is essentially borrowing, and the brokerage that lends you cash will be paid once you pull out your investments.
Sounds interesting? Buying Litecoin in Margin is a relatively new and innovative process. In fact, it can easily be availed of with some cryptocurrency exchange platforms.
If you are one of those interested in buying Litecoin in Margin, here are some sites that you can use.
1.Coinbase Pro (Formerly GDAX)
Launched in 2015, Coinbase Pro was built in hopes to provide liquidity and stability for crypto traders. Offering lending and margin financing services to qualified clients, Coinbase Pro intends to provide improvements such as a multi-user permission and whitelisted withdrawal addresses.
Poloniex boasts one of the most advanced technical indicators and a robust API to inform and help users make the best trades possible. They provide a high-quality security feature that allows 24/7 active monitoring to block any suspicious activity that is being done in the site.
3. Plus 500
A worldwide fully-regulated cryptocurrency exchange company, any user using the platform can also use their account to trade on Forex and stocks. Offering major cryptocurrencies, the main advantage in using Plus 500 is the range of trades and exchanges that the platform allows the user.
The platform offers one of the lowest minimum investment at $100. Allowing leverage up to 20:1, it provides one of the highest leverage available in the cryptocurrency industry. Avatrade is currently developing an app to make trading easier and accessible for prospective users.
One of the newest and most innovative cryptocurrency exchange websites available. iLexExchange provides a fiat currency consisting of USD, EURO, JPY, and PHP. They also offer a margin trading leverage option that allows up to 10x. Which means that you can borrow up to 10x of the amount that you currently have. With a CCSS security certification, it is one of the most secured cryptocurrency exchange websites available.
Here are some of the websites that you can use if you plan to trade or exchange Litecoin or any other cryptocurrencies using margin. It is a relatively new feature that is being integrated by multiple exchange websites and is expected to help the cryptocurrency trade be lucrative for prospective traders.