Litecoin is a new digital currency which is catching the imagination of investors and traders and like Bitcoin trading, Plus500, a CFD broker, has again become a pioneer in terms of offering litecoin trading. Earlier, this organization started offering Bitcoin trading and became the first mainstream and popular big sized CFD broker to bring such a service.
ForexMinute had earlier reported that Plus500 started offering litecoin trading; however, the question is emerging whether it will be the new digital currency on the block. Will it help the new digital currency to become a hit like Bitcoin? If you compare Bitcoin to litecoin, you will see that litecoin is where Bitcoin was a year ago.
However, later on Bitcoin caught the growth and at the end of the year in December it even touched the benchmark of $1200. Though later on it fell by the end of the December 2013 to half of what it reached earlier in the month. It has again gained momentum and trading above $1000 and generating a lot of hopes among Bitcoin investors.
Now that many investors, who have lost their race in Bitcoin, are willing to invest in litecoin and hope it will become hit by the end of year. Even ForexMinute reported this ‘whether litecoin will challenge Bitcoin in 2014.’ The online portal analyzed that the way litecoin is gaining popularity and receiving acceptance, it is highly likely that it will be a challenge for Bitcoin, or at least it will be an alternative for it.
Better Trading Experience for Traders
Plus500, according to some reports is the London Stock Exchange registered CFD broker and now offering litecoin trading services. Now this CFD broker has confirmed that the stiff trading conditions which it had set earlier have been made less stiff and a lot of flexibility has been brought in for a greater trading experience.
In fact, a statement from Elad Even-Chen, the VP of Business Development at Plus500, says that Bitcoins are now traded with a leverage of 1:10 and expire only monthly. However, he did not put less stress on litecoin when he said that litecoin are also offered a leverage of 1:10 but expire on a daily basis.
Moreover, as Plus500 was the first CFD broker to offer leveraged trading on Bitcoin and later litecoin, traders expect that they will be able to get a better trading experience here and make attractive returns.