Amid a steady rally, bitcoin has conquered an all-time peak, aiming for new highs. Other cryptocurrencies are also appreciating at a furious pace. In February 2021, the crypto market capitalization swelled to $1.72 trillion. At the same time, the bitcoin dominance index dropped to 60%.
Having conducted in-depth market analysis, strategists at InstaForex have come up with simple but advanced trading instruments, tuning in to current trends and traders' needs. These instruments can prompt traders to find new entry points to the humongous crypto market.
So, the brokerage giant makes new crypto instruments available from February 22, 2021. Let's get to know them!
- ChainCoin: ChainCoin is a cryptocurrency with its own blockchain that was invented with a view to eliminating intrusion of any banking authority into users' transactions.
- Filecoin: Filecoin is an open-source public cryptocurrency and digital payment system which converts unused hard drive space into an algorithmic market.
- Uniswap: Uniswap is a cryptocurrency operating on the Ethereum blockchain. It enables exchanging tokens through liquidity pools without third parties and delays.
- Polkadot: Polkadot is a multi-chain network which ensures interaction of all blockchains inside it, thus creating a kind of a web of compatible blockchains which make up a decentralized system.
- Dogecoin: Dogecoin got its name and logo from the “Doge" meme and features the muzzle of the Shiba Inu dog. This cryptocurrency was invented as the fork of Litecoin in December 2013 and was originally introduced as a funny payment system for Reddit and Twitter users to give tips. This token aroused the interest of Elon Musk. After he had tweeted that Dogecoin was the people's crypto, its value soared 563%.
- Chainlink: Chainlink is a blockchain-based platform aimed to eliminate unauthorized involvement of third parties when exchanging data through complicated smart contracts. This technology ensures advanced protection of information not only inside blockchain but beyond it.
- Cardano: Cardano runs on the proof of stake technology. It was invented as an alternative to Ethereum. This cryptocurrency platform enables creating smart contracts, decentralized apps and protocols as well as instant transactions of digital assets with minor commissions.
So, apart from widely popular cryptocurrencies such as:
- Bitcoin Cash
InstaForex has complemented the list with new crypto instruments. Above all else, the broker offers trading currency pairs, stocks, futures contracts, and binary options. The major advantage of trading cryptocurrencies intraday is that such strategies yield high returns in practice. Unlike other financial markets where quotes normally fluctuate by no more than 1%, quotes of digital assets can double within 24 hours.
The growing popularity of cryptocurrencies opens up ample opportunities to earn fat profits. Take advantage of them!
InstaForex cares how to make trading in global financial markets more efficient. The company posts daily analysis by 30 experts and charges lower brokerage commissions. A swap rate, i.e. a commission charged when keeping crypto positions open overnight, equals 10% that is two times lower than swaps with other brokers.
Since 2008, InstaForex has been upgrading the quality of its services and products on a daily basis. Thus, the company has deserved the reputation of a reliable provider of online financial services and has gained recognition as the best broker in Europe and Asia. 15 awards and 7 million clients prove that InstaForex is the broker to trust!