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What are the future prospects for altcoins?
The future outlook for altcoins is mixed and the increased use of crypto as a form of mainstream currency will undoubtedly be necessary for altcoins to spread into the mainstream. For now, they are relegated to the sidelines of the crypto space – with bitcoin reigning supreme, this trend is likely to continue for some time.
How to trade altcoins
Trading altcoins means that you are taking a speculative position in the price of a coin on the rise or fall. You will never own the coins directly, so you won’t have to worry about setting up an exchange account or virtual wallet.
Instead, when you trade, you use CFDs to “buy†an altcoin if you think its price will rise; or “sell” an altcoin if you think its price will drop.
Here’s how to trade altcoins with CFD:
- Create a CFD trading account or log in
- Research the altcoin market
- Find your opportunity on our trading platform
- Define your position size and stops or losses
- Open and monitor your CFD trading
If you are not yet ready to trade in the live markets, you can still boost your confidence with our risk free demo account. You will get $ 10,000 for trading different altcoins – or Bitcoin itself – to see how these assets behave and to familiarize yourself with risk management when trading crypto.
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