XTB triples crypto offering and winks at Dogecoin, Polkadot, and Stellar

Rick Steves

XTB gave special attention to three cryptos from the nine added to the offering: Dogecoin (DOGE), Polkadot (DOT), and Stellar (XLM).

XTB has nearly tripled the number of available cryptocurrency-based instruments and introduced new, attractive spread rates.

The Poland-based multi asset broker has added Binance Coin, Cardano, Chainlink, Dogecoin, EOS, Polkadot, Stellar, Tezos and Uniswap to the offering.

The addition complements the previously available cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.

As to spreads, XTB has lowered its spreads, which depending on the instrument, can be as low as 0.22% of the market price.

XTB has more than 2,100 instruments currently available, from forex to indices, commodities, stock and ETF CFDs, not to mention cryptocurrency based CFDs.

XTB has expanded the cryptocurrency offering to address the never ending requests from clients as the new asset class continues to raise attention from both retail and institutional market participants, from fund managers to individual investors.

In the first half of 2021, 20% of XTB’s clients made at least one transaction with the use of CFDs based on these instruments, and for nearly 10% of new clients, the transaction with the use of crypto CFDs was the first one they made after opening an account.

Customers who mainly care about the utilization of volatility, and not having a physical cryptocurrency, have repeatedly asked for new instruments.

“That’s why we have almost tripled the number of cryptocurrency CFDs we offer and introduced attractive spreads. It is worth remembering, however, that this market is much more susceptible to large fluctuations and the influence of investors’ sentiment towards risk, which our clients often try to use by opposing the market and taking a short position for a given cryptocurrency”, said Joshua Raymond, director of the XTB International.

XTB gave special attention to three cryptos from the nine added to the offering: Dogecoin (DOGE), Polkadot (DOT), and Stellar (XLM).

Dogecoin (DOGE) is a cryptocurrency that was created in 2013 as a joke in opposition to Bitcoin. XTB warned that Dogecoin is a so-called inflationary cryptocurrency, i.e. its supply is not limited.

Polkadot (DOT) is a project that started in 2015 and was initiated by former directors associated with the Ethereum project. “The innovation of this cryptocurrency is the ability to support multiple blockchains. It is the 9th largest cryptocurrency in terms of capitalization”, the broker continued.

“Stellar (XLM) was created in 2013 thanks to the co-creator of another innovative project related to finance, i.e. Ripple. Stellar is generally a large financial network that is designed to enable fast cross-border payments in large amounts of currencies”.

Read this next

Digital Assets

Crypto.com secures preliminary approval to operate in Canada

Crypto.com, one of the longest-established crypto platforms, has become the first digital asset platform to sign a Pre-‘Registration Undertaking’ with the Ontario Securities Commission (OSC) in Canada.

Retail FX

CySEC hits IC Markets One with regulatory warning

The Cyprus Securities and Exchange Commission has once again stepped up its fight against unauthorized brokers.

Uncategorized

XTAGE now offers bitcoin and ether trading to 3.6M Brazilian investors

Brazilian financial services giant XP has officially launched its crypto trading platform XTAGE, which was built on major American stock exchange Nasdaq’s trading technology.

Institutional FX

FX volume drops 7pct at CLS Group in July 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in July.

Digital Assets

Web3 startup PIP integrates with Binance ecosystem

Web3 payment provider PIP has announced integration with the Binance ecosystem, which allows the firm to vastly develop and propose needed products and improvements that are worthy of competing with others chains.

Industry News

Celsius $750m insurance claims are fraud, says lawyer seeking EU crypto superfund

“It is an intentional deception in aid of a billion-dollar securities offering.”

Institutional FX

DGCX brokers authorized to provide derivatives trading and clearing services

The DFM is looking to provide multiple asset classes such as; equities, ETFs, equities’ futures, crude oil futures, etc. to meet the growing demand from its diversified base of local and international investors.

Digital Assets

EQONEX leaves “crowded crypto exchange space” amid crypto winter

“The recent extreme market volatility and declining trading volumes have added to the headwinds being felt by exchange operators. We take a realistic view that our exchange will not move the needle for us financially over the near-to-medium term.”

Digital Assets

FTX and Paradigm partner for spreads trading: lower risk, lower fees

“This structured spread trading product is the first that will enable crypto investors to utilize cash and carry trades through FTX and Paradigm.”

<