The price action of Ethereum and Litecoin has surged the demand of investors. Yet, other cryptocurrencies have also risen rapidly. Why is that HYCM adds Litecoin and Ethereum to its platforms and not the other coins?
6 September, AtoZForex – With the rising popularity of cryptocurrencies worldwide, many Forex brokers decided to offer an exclusive opportunity to trade digital currencies to their clients. Of the such, HYCM, an AtoZ Approved Broker. Previously, in June, HYCM has introduced the Bitcoin /dollar trading.
HYCM adds Litecoin and Ethereum
This time, the brokerage has added Ethereum (ETHUSD) and Litecoin (LTCUSD) trading options to their platform. The pairs are CFDs and this implies that there is no wallet and delivery of coins.
HYCM clients are only able to capitalize on trades that are in profit. However, they can not use the CFDs to receive or send funds to or from others.
What are HYCM's future plans?
We have reached out to the HYCM representatives to ask the questions about this new great addition to their trading platform.
Kristina Frunze: "Why did HYCM decide to add Ethereum and Litecoin now?"
HYCM's research team: "We added Bitcoin/Dollar trading to our platform back in June following client demand and growing interest in wanting to get involved in the cryptocurrency phenomenon.
The addition of Ethereum (ETH/USD) and Litecoin (LTC/USD) has increased the number of cryptocurrencies available on our platform to three, reflecting the continuing attraction to blockchain technology and the impressive returns they have recently generated."
Kristina Frunze: "Will HYCM add other Cryptocurrencies to its platform?"
HYCM's research team: "As yet, there are no firm plans to introduce trading on any further cryptocurrency pairs but will continue to assess the situation and respond to client demand if the need arises."
Kristina Frunze: "What are HYCM's plans to cater the growing cryptocurrency community?"
HYCM's research team: "As one of the industry’s leading brokers, we always strive to stay ahead of the game and increase our offerings in line with our customers. The last few months have seen a huge interest in cryptocurrencies from traders wishing to capitalize on their performance without getting into the complexities of physically purchasing them.
We are seeking to harness this interest and further develop this side of our business. By adding additional altcoins to our repertoire if our trading volumes continue to reflect this increasing demand."
Click here to open a demo account with HYCM to test Litecoin and Ethereum trading.
What are your thoughts on HYCM's decision to add Litecoin and Ethereum? Let us know in the comments section below.