Following the boom in trading on the cryptocurrency market, InstaForex added Ripple and Litecoin to its list of CFD instruments. What is the background for choosing these two currencies among the many other cryptocurrencies? How are the Litecoin and Ripple trading conditions provided at InstaForex?

Promising Growth And Capitalization

Sustainability and long-term returns are the main components that cannot be neglected when looking at the potential of a trading instrument. According to InstaForex analysis, Litecoin and Ripple are two currencies that meet these criteria.

First of all, Litecoin is one of the digital currencies with the largest capitalization after Bitcoin. According to InstaForex, Litecoin can also be called a more upgraded version of Bitcoin, considering that its technology allows faster transaction time and more efficient storage. If interest in Bitcoin alone continues to grow, then the more effective and efficient Litecoin has the potential to follow suit, even though its value is still below Bitcoin.

Meanwhile, the next cryptocurrency that InstaForex presents is Ripple, which was developed as a digital transaction system of a world banking network. The correlation with banking gives Ripple the edge from a security point of view, a sector that has not been fully guaranteed in Bitcoin until recently.

Besides being safer, the creation of Ripple is much simpler because it does not require a mining process. According to InstaForex brokerage, Ripple transactions can be confirmed in less than 4 seconds, and the payment system can process up to 1,000 transactions per second.

Despite being lower than Bitcoin, Ripple's value continues to experience steady growth. In 2017, the digital currency shot up nearly 3,000% from $0.0065 to $0.2 after the National Bank of Abu Dhabi signaled interest in it.

Similar Trading Conditions to Bitcoin

Not much different from Bitcoin, which is presented as a CFD instrument with trading commissions, Litecoin and Ripple also carry the same concept by InstaForex. For Litecoin trading, the InstaForex broker determines the conditions for spreads from 80 pips, standard volume of 1 lot = 100 Litecoin, and 0.1% commission. Meanwhile, in Ripple trading, the volume per lot is 10,000 Ripple, with spreads starting at 40 pips and a commission of 0.1%.

InstaForex is one of the forex brokers that provided Bitcoin trading at the beginning of its popularity. Apart from these currencies, InstaForex has also provided Ethereum, which is offered with many specifications and commissions similar to Bitcoin trading.