Cryptocurrencies are digital forms of money that are stored virtually. They were initially developed with the objective of becoming an alternative to money issued by governments, referred to as fiat currencies. Unlike fiat currencies, such as the US dollar or the euro, cryptocurrencies are decentralized which means they are not controlled by one entity. Fiat currencies are managed by central banks while cryptocurrencies are managed by the community of investors of the specific token.

Also, instead of central banks maintaining the ledgers, cryptocurrencies use the blockchain, which is a transparent ledger that is stored virtually. The blockchain is a record of every transaction utilizing the specific cryptocurrency coin.

When Bitcoin, the world’s first cryptocurrency was initially released to the public markets, hardly anybody took notice. Most financial industry professionals completely ignored it. However, there were a few forward-thinking investors who realized the potential of cryptocurrencies. These investors who got in early were handsomely rewarded when Bitcoin and the rest of the cryptocurrency markets skyrocketed over the recent years.

If you were not one of these early investors, you should know that there is plenty of opportunity in the cryptocurrency markets. Of course, known for being extremely volatile, cryptocurrencies can come with significant risks for traders. However, with increased volatility, comes more opportunities to profit from the market fluctuations.

Altofx provides you with access to numerous different cryptocurrencies that are tradable on our advanced platform. You will experience fast trade executions as well as narrow spreads with the Altofx trading platform as you trade your preferred cryptocurrency CFDs.

Also, the WebTrader platform has been designed to be highly user-friendly. This means even beginners will be able to utilize the Altofx platform to trade a wide choice of digital assets.