Litecoin is an important part of the cryptocurrency market place as it’s intention is to function like a pure digital cash. This coin is often called the silver to Bitcoin’s gold and is known to be fast and cheap to use for transactions.
Despite being more like a currency than other crypto-assets, Litecoin still plays an important role for cryptocurrency traders. Those trading on PrimeXBT can utilize a number of advanced trading tools and strategies to make successful trades with Litecoin.
PrimeXBT is a cutting-edge online trading platform offering traders all the tools necessary to buy, sell and trade Litecoin in the cryptocurrency market. PrimeXBT features a third-party service called CEX.io that allows the exchange of other crypto-assets, fiat currencies, and more for Bitcoin.
In addition, users can purchase Bitcoin with a credit or debit card to fund their trading accounts and get started trading Litecoin immediately. Alternatively, users may deposit their own Bitcoin to the PrimeXBT wallet BTC address.
Margin trading means that a trader has decided that they want to make a trade that is bigger than the capital they have, and look to the platform to borrow these funds in order to make a bigger Litecoin position
Margin trading means you do not have to deposit the full amount of the position you want open and rather you borrow these funds to leverage the position. If the trade is successful, the profits are also magnified, but if your trade on the Litecoin goes the wrong way, your losses can also be greater.
For example, If a trader takes a short position of 100 LTC on 10x leverage, and the price of Litecoin falls 3% the trader will earn a profit of 30 LTC. A similar spot trade without leverage would result in only 3 LTC earned.
Disclaimer: Margin trading also comes with inherent risks if the position moves against the trade. You should never utilize 100% leverage and never invest more than you can afford to lose.
Litecoin is among the oldest and most trusted cryptocurrencies, earning it a top spot in the top ten cryptocurrencies by market cap for a number of years running. Like Bitcoin, Litecoin is a cryptocurrency with enormous long-term projected growth.
PrimeXBT offers ultra-fast order execution and tight spreads on all assets. Trading Litecoin on PrimeXBT enables traders to take advantage of all the trading tools needed to execute successful Litecoin trades.
Traders can rest assured their personal data and funds are safe at all times, due to PrimeXBT’s unwavering commitment to privacy and security. The platform features additional security features such as address whitelisting, two-factor authentication and much more.
With a highly customizable user interface, helpful widgets, how-to video guides and tutorials, a 24/7 support staff, and all the tools a trader could need, PrimeXBT is a one-stop-shop for new and experienced traders alike.
Litecoin is a crypto altcoin that was designed to address many of the issues Litecoin’s creator Charlie Lee saw in Bitcoin’s code. Litecoin itself is a fork of the original Bitcoin core client, that was modified by Google engineer Charlie “Satoshi Lite” Lee.
Lee has since formed the Litecoin foundation aimed at pushing adoption of the digital currency. Litecoin is primarily a payment currency, and has been called the silver to Bitcoin’s gold.
Like Bitcoin and Ethereum, Litecoin is built on blockchain technology. Litecoin is both the name of the protocol and the underlying asset, traded using the LTC ticker.
It’s free to open an account, and there is no obligation to
fund or trade.