Cryptocurrencies: Indices: The World's most intriguing Financial Market
Here, you will find the definition over crypto world, top cryptocurrencies which are traded around the world: Bitcoin, Ethereum, Bitcoin Cash, Ripple, True USD. Almost everything you want to know over cryptos, live prices, what affect their prices and more.
What are Cryptocurrencies?
Cryptocurrencies are becoming very popular since their first appearance in 2009 and there are now over two thousand in existence. Some of the most traded cryptocurrencies are Bitcoin, Ethereum, Bitcoin Cash, Ripple, True USD. They have the largest market capitalization.
In difference compared to the traditional currencies which are produced, managed, controlled and observed by government and/or central banks, is that cryptos are mined through computers network and managed through blockchain technology- a permanent record of transactions that cannot be altered without the consensus of the network.
What are the top cryptocurrencies traded worldwide?
The most famous cryptocurrencies classified by their market capitalization and recent price movements are Bitcoin, Ethereum, Bitcoin Cash, Ripple, True USD. These dominate the market and are popular among traders and investors.
Bitcoin is a peer-to-peer digital cash system that allows interested parties to transfer electronically units of the digital coin without the presence of an intermediary. Bitcoin is a combination of a public transaction ledger, a decentralized currency producer algorithm and a transaction verification system. Its supply reaches 21 million bitcoins, which are expected to be mined before 2025.
Ethereum is a Turing-complete blockchain protocol that is based on smart contracts. These smart contracts are scripted with Solidity, which the native programming language of Ethereum. Smart contracts are self-executing programs that facilitate money, content, property exchange. Of course, there are needed some conditions to be met and there is no need for intermediary part. Smart contracts run exactly as programmed without censorship, downtime, fraud or third-party intervention.
Bitcoin Cash is also a peer-to-peer electronic cash system, it allows digital transfers of bitcoins without the need for a third party. Bitcoin Cash is a result of a chain split from Bitcoin Core protocol, while an upgrade increasing the block size limit from 1 MB to 8MB (and later to 32 MB). Like Bitcoin, Bitcoin Cash has a supply cap of 21 million bitcoin cash. During a fork of the BCH chain in November 2018, Bitcoin Cash Satoshi's Vision and BitcoinABC were created. As the time passed, many exchanges started to name BitcoinABC chain simply Bitcoin Cash (BCH).
Ripple is a real-time gross settlement system, currency exchanger and remittance network based on an open-source protocol. Ripple supports traditional currencies, other cryptocurrencies, commodities and other forms of payments, like mobile minutes for example. Ripple’s platform uses a distributed ledger to facilitate payments, exchanges, and remittance via its native cryptocurrency, XRP. The Ripple supply is around 100 billion XRP, while 60% of them is held in Ripple labs, most of which is locked in escrow contracts. Ripple transfers needs very little to no confirmation time, free global transactions with no chargeback threat.
Cryptocurrencies are the champion of volatility. There are a variety of triggers for this high volatility. Some of them are:
Speculation is a powerful influencer on cryptocurrency prices. It was very clear how Bitcoin dropped from $20,000 in December 2017, to $1,000 in 2018. Both, experienced and inexperienced traders would go long and wait without being bored- expecting the price to keep rising and going as high as possible.
There are 2,000 and more cryptocurrencies available in the market to trade. As more cryptocurrency enter the market, created under faster and more efficient networks, the status and the power of current cryptos may be shaken. For example, the network transaction value of TRON (TRX), as of October 2018, exceeded that of larger market-cap cryptocurrencies such as Bitcoin, Ether and XRP.
It is proven that cryptocurrencies are highly sensitive to news announcements. Starting from CEO of JPMorgan Chase calling Bitcoin a ‘fraud’ to details of networks being hacked, and anything in between can lead to uncontrollable fluctuations. On the other side, economic and political events which affect fiat currencies, can make people lose their interest in traditional currencies, so they turn their interest towards cryptos, causing a grow on their price.
Regulations are a big issue when it comes to cryptocurrencies. Just for the fact that they are decentralized, the issue becomes more complex, with wide international disagreement ranging from the legitimacy of currency status, or even whether they should be made illegal. For example, in February 2018, China blocked for its citizens the access on the website which were offering cryptocurrency services. This caused a 15% fall in Bitcoin and 20% plunge for Ethereum. Similarly, in January 2018, Bitcoin’s price was hit by new South Korean legislation requiring traders to reveal their identity.
You can fund your account with Dakken Group with whatever Visa Card you own. We accept Visa Debit, Visa Credit, business cards, except of prepaid ones.
Mastercard is also one of our best collaborators. You can open your account with Master Debit and Credit. There are no additional charges for deposits or withdrawal with Master cards, even though during other payments you are charged for the service.
Maestro is a quick and easy way to get your account ready to trade. It is a fast funding method. Maestro Debit cards are accepted, excluding prepaid ones.
Skrill is an effective way to transfer money or pay different purchases. So, it is a good way to fund your trading account with Dakken Group from anywhere with just email address and password. Deposits via Skrill will be returned to the originating bank account that funded the Skrill account. Supporting documentation will be required in this instance. Skrill also does not support funding through prepaid cards.
When depositing funds, Dakken Group do not apply any charges but your own bank or card provider may apply their own charges.
*Card Payments can be deposited at anytime but in certain circumstances beyond Dakken Group control some payments may only be applied between the deposit processing times that apply to Bank transfer deposits. Minimum deposit and withdrawal amounts of £65/€90/$100 apply unless the trading account is being closed. Please note that in certain circumstances Dakken Group may require additional supporting documentation before funds can be applied or withdrawn from your trading account.
**Minimum withdrawal amount of £65/€90/$100 apply unless the trading account is being closed.
Please allow 3-5 working days for all withdrawals (including international transfers and card refunds). For more information please contact our Client Management Support.
Please note that in accordance with UK Money Laundering Regulations Dakken Group is unable to accept third party or prepaid card payments and the name of the deposit or via the above methods must be consistent with the ADSS account name.
Dakken Group will not accept any remittance which is considered to be a third party or pre-paid card payment. In addition, please note that Dakken Group applies a return to source withdrawal policy.
Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested.
All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation for you to buy or sell any over-the-counter product or other financial instrument. Please, ensure you understand all risks and seeking dependent advice if necessary.
This website is owned and operated by Clandestiny Group LLC, Company registration number: 1342 LLC 2021 and registered address First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St Vincent and the Grenadines.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.