CRYPTOCURRENCIES
Explore the Dynamic World of Cryptocurrencies Through Our In-Depth Video Sessions
*Not all currency pairs are represented here. You can find the entire list on our trading platform
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What is
Cryptocurrencies
The cryptocurrency market encompasses a variety of assets, such as Bitcoin, Ethereum, Litecoin, and numerous others. Known for its high volatility, this market is traded globally, rendering it one of the most sought-after financial arenas. With an average daily trading volume exceeding $200 billion, the cryptocurrency market boasts exceptional liquidity.
Cryptocurrency trading involves the exchange of digital coins, each representing a specific asset or token. These trades occur over-the-counter (OTC), as there is no centralized exchange; instead, each exchange provides its own quotes, with the global market serving as the reference point for these quotes.
IC Markets is an online trading platform that grants clients access to the cryptocurrency market. We empower traders to engage in buying and selling cryptocurrencies, enabling them to capitalize on price fluctuations without the need to physically acquire or exchange the underlying assets.
Cryptocurrencies are traded in pairs, each representing a specific token or asset. The initial currency in the pair is termed the "base" currency, indicating the volume you intend to trade, while the second currency is referred to as the "quote" or "term" currency, denoting the current exchange rate.
For instance, the BTC/USD price indicates the quantity of US dollars required to exchange for one Bitcoin.
BTC/USD = 46,891.20
In the present scenario, the value of one Bitcoin stands at $46,891.20.
Prices are constantly fluctuating based on market conditions, news events, and other factors.
In simple terms, traders adopt a long position if they anticipate the base currency will appreciate against the quote currency, aiming to profit from price increases. Conversely, if traders foresee a decline in the base currency's value relative to the quote currency, they initiate sell trades to capitalize on downward price movements. However, if prices move counter to the trader's expectations, they will incur losses.
Cryptocurrency trading is typically denominated in Satoshis or other fractions of a digital coin, where each Satoshi represents a specific monetary value of the "quote" currency depending on your trade size. This value determines the profit or loss based on the number of Satoshis gained or lost in a trade and is also utilized to visualize the spread, which denotes the disparity between the bid and ask prices.
At IC Markets, we offer fractional pricing for cryptocurrency trading, allowing us to offer tighter spreads and provide more accurate pricing.
For those new to online cryptocurrency trading, we suggest exploring our educational resources to gain familiarity with the market and trading principles. Additionally, we offer "watch and learn" video tutorials and downloadable PDF guides to assist you in getting started with cryptocurrency trading.