The Swiss online bank, Swissquote adds Ethereum trading offer and 3 more altcoins, being the first bank to offer five cryptocurrencies. Find out which altcoins was added and also what the CEO of Swissquote has to say about cryptocurrency.
18 December, Swissquote – The leading online bank in Switzerland, today launched trading of four cryptocurrencies in addition to Bitcoin: Ether, Litecoin, Ripple and Bitcoin Cash. Swissquote has been offering Bitcoin trading already since July 2017. With now five virtual currencies, it is the most complete cryptocurrency trading offer by a bank, providing simple and safe trading to all customers.
Customers may invest in Bitcoin, Bitcoin Cash, Ether, Litecoin, or Ripple against the Euro or the US dollar through their Swissquote trading account, just as they would with any other currency, except without access to leverage. Because there is no leverage, there is no risk of losing more than the invested amount.
Swissquote adds Ethereum trading offer and more altcoins
The offered crypto-currencies were chosen according to both client demand and available liquidity. The minimum cryptocurrency transaction is 5 USD or EUR, and the maximum is 500,000 USD or EUR. Fees are a percentage of the transaction amount, ranging from 0.5% to 1% depending on the amount invested.
Ether (ETH) was developed by the Ethereum Foundation in Switzerland and relies on the Ethereum blockchain and platform, which are used across a broad range of industries to build smart contracts and decentralized applications.
Bitcoin Cash (BCH) is a blockchain derived from the Bitcoin blockchain, following the split of Bitcoin (“hard fork”) in August 2017. Bitcoin Cash offers higher transaction capacities and a new governance model.
Litecoin (LTC) was created in October 2011 as a peer-to-peer cryptocurrency. While inspired by and technically nearly identical to Bitcoin, Litecoin has some minor differences: primarily a decreased block generation time (2.5 minutes rather than Bitcoin's 10 minutes), an increased maximum number of coins, a different hashing algorithm, and a slightly modified user interface.
Ripple (XRP), created in 2012, is the fourth largest cryptocurrency by market capitalization. It is both a payment network (RippleNet, a competitor to systems like SWIFT) and a cryptocurrency. Marc Bürki, CEO of Swissquote, said:
“Our Bitcoin trading offer and certificate have been a big success and exceeded our expectations. We are expanding our offer to help investors diversify in cryptocurrencies, just like they do in traditional securities. Cryptocurrencies are increasingly popular, more quickly than anyone expected. By offering them on our platform, investing in cryptocurrencies becomes simpler, safer and accessible to all.”
This article was written by Swissquote. While every effort has been made to ensure that the data quoted and used for the research behind this document is reliable, there is no guarantee that it is correct, and Swissquote Bank and its subsidiaries can accept no liability whatsoever in respect of any errors or omissions, or regarding the accuracy, completeness or reliability of the information contained herein.
This document does not constitute a recommendation to sell and/or buy any financial products and is not to be considered as a solicitation and/or an offer to enter into any transaction. This document is a piece of economic research and is not intended to constitute investment advice, nor to solicit dealing in securities or in any other kind of investments.