HYCM has launched trading on two additional cryptocurrencies, Ripple and Bitcoin Cash, adding XRP/USD and BCH/USD to its range of cryptocurrency offerings.
The decision to add Ripple and Bitcoin Cash to its existing crypto offerings, Bitcoin, Litecoin and Ethereum, follows the continued increase in demand from investors in the wake of the recent cryptocurrency boom. HYCM thus now offers 24/5 leveraged trading on the most volatile virtual currencies coupled with low spreads and competitive margins.
HYCM was one of the first brokers to launch cryptocurrency CFD trading. The latest additions to its offerings reinforces the company’s position as one of the industry’s leading brokers.
Stavros Lambouris, HYCM CEO commented,
“There is no doubt that cryptocurrencies play a key role in forex trading as well as in the industry as a whole. We are expanding our offerings to help our clients diversify in cryptocurrencies in the same way as they do in traditional instruments. By adding Ripple and Bitcoin Cash to our platform, HYCM is making it easier and more accessible for investors seeking opportunities to capitalise on the performance of even more of the most in-demand cryptocurrencies”.
Ripple (XRP) is both a transaction network and crypto token which was created in 2012 as the go-to cryptocurrency for banks and global money transfers, and has recently experienced a period of growth. Bitcoin Cash (BCH) meanwhile, is a blockchain derived from the Bitcoin blockchain which followed the split of Bitcoin (hard fork) in August 2017. Bitcoin Cash has also recently experienced gains as investors seek to diversify their portfolios through altcoins.
At today’s date, Ripple currently has the third largest market capitalisation of all cryptocurrencies at over $48 billion, while Bitcoin Cash ranks fourth with a market cap of over $26 billion as compared with $176 billion for Bitcoin and $93 billion for Ethereum.*
Cryptocurrencies have taken the financial world by storm at a faster pace than anyone anticipated. Bitcoin, the world’s largest crypto by market capitalisation continues its meteoric rise, having spearheaded the cryptocurrency trend after its launch in 2009. As Bitcoin and its other crypto-counterparts continue to exhibit the potential to deliver substantial opportunities, more and more investors have been attracted by them as a means to earning potential financial rewards.
