If you have been thinking and reflecting on how to produce economic results with Litecoin for a long time, but you still don’t know how to do it, you will find in this article all the main ways to produce economic results through the cryptocurrency markets. Among the most valid systems, there is the LTC in traditional CFD trading platforms, such as Etoro, Coinbase or CFD Plus500 trading platform.
Some trading platforms attract users as they give the possibility to get results both by operating LONG, i.e. upwards, and by operating SHORT, i.e. downwards. For example, while some platforms allow you to buy Litecoin and produce economic results only if the price increases in value, there are others that allow you to produce economic results even if the price decreases in value, in practice you sell the product without owning it and eventually buy it back at a lower price and the difference is the actual capital gain.
Below you will find a selection of the best trading platforms that will allow you to get both upward and downward capital gains with Litecoin.
Let’s Talk About Litecoin Trading Platforms
One of the advantages of using trading platforms is that they allow you to get money gains in the real currency you want, with the financial instrument of the Litecoin cryptophone.
You can choose the type of trading platform you prefer among:
Let’s start with CFDs. With these platforms, you can trade Litecoin and make profits from both decreases and increases, obviously based on the projection that you imagine the price will be made. In the same way you can suffer losses.
On CFD platforms you can trade CFDs on Litecoin and make profits (or losses) both in case the price increases and in case the price decreases. If, for example, the bitcoin price is expected to increase in value, you will be able to open buy positions. If, on the other hand, the LTC price is expected to decrease, sell positions can be opened (and thus benefit from litecoin declines). In addition, with the same CFD platforms you can play on the stock exchange on shares and Forex.
In exchange platforms, you can buy Litecoin using real currency money or using other cryptocurrencies. For example, you can deposit a certain amount in dollars and then buy Litecoin by credit card. Or, you can decide to buy e.g. Ethereum and then make an exchange in Litecoin. There are also other sites that allow you to buy Litecoin in cash, but I advise you to be absolutely careful because it is an unregulated market.
Litecoin CFD Trading Operations
CFD trading platforms that provide the Litecoin instrument, such as the Plus500 platform, offer two ways to make money with bitcoins:
- When the price of Litecoin increases after opening a “buy” position;
- When the price of Litecoin decreases after opening a “Sell” position.
Once a position has been opened, it can be closed when you wish as long as the market is actually open. Instead, you can execute a new sell or buy order even when the market is closed.
Important note: CFD platforms allow you to open opposite positions, for example you may have opened a sell position on Litecoin and open a buy position and manage both. If you simply want to close one of the two, you need to click on the “CLOSE POSITION” button.
What to Expect for 2020
What can we expect for Litecoin in 2020? The year 2019 was really special, as this cryptomoneta also climbed the prices like several of its “cryptosorelle”.
One aspect that characterizes all cryptocurrency is undoubtedly the rapid succession of changes in trend and price, called volatility. Over the course of a single day, double-digit percentage changes can be seen.
Volatility on the one hand could play tricks, but on the other hand it is also an advantage. In fact, strong price changes are a great way to make money without waiting too long using litecoins when making correct market forecasts of course.
For this reason, CFD platforms are presented as an excellent alternative to normal trading on currency markets. In fact, as we have seen, you can make money through CFDs with Litecoin, even if the price drops.
Obviously, while you can produce capital gains, you can also suffer losses. However, you can set maximum limits for losses through a special function of the platform: called Stop Loss. This “parachute” function allows you to enter a loss limit in advance, at which the platform will automatically close the position, avoiding further losses.
Litecoin and Smartphone
One of the platforms to trade Litecoin on the financial markets is Plus500, which allows you to work with any device, both in desktop version and with your smartphone in full mobility. As for mobile devices, it can work with all types of operating systems, including Android, iOS and Windows.
While for desktop computers, in addition to Windows and iOS, the CFD trading platform also supports Linux.
Does Litecoin Mean Easy Winning?
All of us might think that cryptocurrency is a golden world where all we need to do is put a few Euros in today and we’ll be rich tomorrow, but not everything that glitters is gold.
The advice we give you is not to focus on the speed at which you can record capital gains, but rather to think and study a serious method to get stable results over time. For example, try to open positions only when you expect the analysis you have done to have the highest statistical probability of realizing it.
Practical Litecoin Trading Exercise With The Demo
To stay on topic, there is a good way to try to produce economic results with Litecoin. With a trading platform of the demo version, you can use virtual money in the same conditions as a real account. Once you have some experience, you can buy Litecoin with Postepay, Credit Card or Paypal. To practice the demo account you don’t need to deposit even one euro. The following platforms allow you to practice with a free demo and you can also practice trading with Litecoin, or more precisely CFDs on Litecoin.