Cryptocurrency Trading : What is it?
A cryptocurrency is a digital coin which can be used to virtually conduct money transactions between people. They are a good alternative to real money and exist only as digital data, as opposed to actual ‘physical” money.
Owning a cryptocurrency like Bitcoin, for example, means you are in a collective agreement with every computer within the Bitcoin network system that’s currently owned by you. You also have the added peace of mind that the system was created by a miner and not a central bank or government
Crypto investors continue to grow in in 2021. Open an account today and enjoy the benefits!
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Best cryptocurrency Trading Platform in Naira
Bloclive is the only trading platforms traders will need in 2021 to trade a broad range of top-ranking digital coins 24/7. Cryptocurrencies have become massively popular over the years, proving their worth as a conventional and popular asset class. No longer do you need to rely on banks or other financial institutions to increase your wealth in 2021!
Traders have the opportunity to trade in a wide range of the most popular digital coins 24/7. Crypto currencies have become a very popular asset, allowing people to buy, trade and invest without any intervention from or reliance on banks or other ‘financial aids’.
When you trade crypto currencies in Naira with Bloclive, you enjoy many key benefits from the get-go.
Bloclive is an industry-leading broker based in , offering the best crypto-trading conditions, including the lowest crypto spreads on the market.
Why trade with Bloclive?
- Best in class safety – Through 6 dedicated regulatory authorities and segregated accounts, your money stays protected 24/7.
- No hidden fees whatsoever – Zero commissions and no bank fees on any transactions!
- Multiple cryptocurrencies to choose from – Trade on a wide variety of cryptos through our trading platforms
- Bitcoin is always available – Bloclive is among the small handful of brokers who operate around-the-clock and offers support in 14 languages.
- Trade cryptos against flat currencies – We’re not like other exchanges who restrict clients to crypto-crypto trading only. With us, you can trade cryptos against flat currencies like EUR, USD, JPY, etc.
- Generous trade leverage – Increase your initial capital with generous leverage, giving you far more exposure to trade than your account balance.
- Limit risk – Use stop losses to preset profit and loss levels or take profit limits while trading. Determine the maximum amount you want to risk or set a price at which you want to take profits. Buy Stops and Buy Limits also available.
- Ability to trade in about 5 minutes
- Regulated in 5 continents and continuously monitored for compliance
- Zero risk of hacking or cryptocurrency wallet theft
- Fast trade execution
- Extremely liquid
- No commission fees !
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Most Popular Cryptocurrencies in 2021
Trade Bitcoin
This mega-powerful currency has not only opened the gate for other currencies, but also leads the cryptocurrency world with pride. It is governed to make sure no extra Bitcoin is produced, as a maximum quantity of 21 Million Bitcoin units was agreed to. When introduced, the rate was $1 to 1,309 BTC USD. The wheel has turned, and when Bitcoin reached the all-time high of $19,783.21 in 2017, it was certainly a meaningful milestone for Satoshi Nakamoto, the creator of Bitcoin.
Bitcoin Cash (BCH) was created by the Bitcoin hard fork on August 1, 2017, resulting in a new version of the blockchain with different rules. By switching from the main Bitcoin blockchain to a new version, the software now has a capacity for a larger number of transactions.
Bitcoin Gold (BTG) is the second fork from Bitcoin (i.e. the second version to stem from Bitcoin’s source code). It retains Bitcoin’s transaction history, meaning that if you owned Bitcoin before the fork, you now own the equal amount of Bitcoin Gold. This cryptocurrency aims to introduce an alternative mining algorithm that is less susceptible to ASIC-based optimization, therefore allowing users to earn more with their computer cycles.
Trade Ethereum
Ethereum (ETH) is more than just a currency – it’s like one giant computer housing many computers around the globe. Ethereum can respond to sophisticated requests. Its ability to store revolutionary computer programs, known as smart contracts, gives Ethereum an edge over Bitcoin and has attracted attention from banks around the world. This, among other factors, has led to a jump of almost 10,000% in 2017!
Trade Litecoin
Litecoin (LTC) is similar to Bitcoin in many of its characteristics and is also one of the more veteran cryptocurrencies out there. However, there are two main differences between Litecoin and Bitcoin: Speed and amount. While it takes 10 minutes to create a Bitcoin block, Litecoin demands roughly 2.5 minutes to create a block – meaning 4 times the speed. Moreover, Litecoin attracts many users, as it can produce 4 times the quantity of Bitcoin! However, as Litecoin uses highly complex cryptography, often mining it is more complicated than other cryptocurrencies.
Trade Ripple
Ripple (XRP) can be described as the next generation of payment networks. Originally set up to engage financial industry leaders, the digital currency has been a leading technology so far. This cryptocurrency exploded in 2017, going from $0.0063 to over $1.
Trade EOS
The e-coin that is considered Ethereum’s biggest competitor. The EOS blockchain gained its fame because of the way it effectively records and secures transactions. It is similar to the Ethereum blockchain but faster, more scalable, and allows users to build decentralized applications more efficiently. Market analysts are promoting the currency as ‘The Most Powerful Infrastructure for Decentralized Applications’ and expect the coin to be dumped and pumped, which could provide some interesting short-term opportunities.
What Makes Cryptos Ideal for Trading
- Cryptocurrency trading allows traders to diversify their investment portfolio, as cryptocurrency price is mainly determined by market sentiment, demand and supply
- Benefit from a wide range of today’s top traded cryptocurrencies
- Cryptocurrencies offer a new form of high-volatility investment
- Cryptos are traded 24/7, even during the weekend
Cryptocurrency Mining
Every time a new kind of cryptocurrency is launched, its founders announce the maximum number of coins that will be mined (Bitcoin, for example, has a limit of 21 million coins). Once the required quota has been met, no further coins are produced by the founders.
The first digital coin ever, Bitcoin, is still used as a benchmark today and will be in 2021, for all other digital coins. Other popular cryptocurrencies that have surfaced following Bitcoin include Ethereum, XRP, Tether, Litecoin, Ripple, EOS and cryptocurrency-derived currencies like Bitcoin Cash and Bitcoin Gold.
What is Blockchain?
Cryptocurrencies work by using a technology known as blockchain – a decentralized technology that’s spread across several computers to manage and record transactions. Part of the reason cryptocurrencies have become so popular is because of the security that comes with blockchain.
Blockchain essentially refers to a list of transaction records (blocks) which are linked to each other and encrypted for unmatched security. This blockchain continues to grow and is open to anyone who wants to trade or make payments via cryptocurrency. Each block in the blockchain contains:
- Details of the sender and receiver, including the amount of e-coins transferred
- A hash, which serves as a unique digital fingerprint for each user
- A hash of the previous block in the chain
Every time a new block is created, it is automatically sent to every user in the network. Each user is then required to verify the new block and only then it is added to the blockchain.
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Please note: The cryptocurrencies market’s high volatility may offer endless trading opportunities, but also high risk of loss.
Due to price fluctuation, certain crypto
pairs may be suspended and/or removed from our trading platforms periodically.
Please see our crypto trading conditions page for available crypto currencies.
When trading with Bloclive you are trading on the price changes of the digital coin, and not physically purchasing it.
