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

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

Digital Assets

Big Time Generates over $100M in Revenue since Preseason

Innovative game developer Big Time Studios announces that its highly anticipated free-to-play multiplayer action/MMO RPG Big Time, has generated $100M in revenue. According to the team, players transacted a total volume of over $230M, without selling a single token.

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

<