Roboforex Adds 4 Cryptocurrency CFDs for Trading

Roboforex clients gain the ability to trade the instrument on the MT4 forex market
06 February 2018   528

RoboForex, an international financial broker, is expanding the list of cryptocurrencies available for trading via MT4 and MT5 platforms. Apart from and RoboForex clients will have an opportunity to trade Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, and Ripple. 

RoboForex expanded access to cryptocurrencies for its clients and added new instruments, BCHUSD, DSHUSD, LTCUSD, and XRPUSD, which are available for trading via popular MT4 and MT5 platforms. Trading conditions for new digital currencies will be the same as for BTCUSD and ETHUSD pairs. The leverage applicable for the instruments is fixed at 1:10.

We always keep up with the time and provide quality access to a wide range of trading instruments. The current situation is that a large part of our clients are trading cryptocurrencies and we see high potential in them. This market is very attractive due to its volatility. It is growing and scaling very quickly, and more and more people are taking interest in it. To satisfy this demand, corresponding infrastructure and services are required, and RoboForex is systematical, step by step, implementing them for its clients.

 

Denis Golomedov

CMO, RoboForex

It is worth mentioning that in September 2017 RoboForex provided its clients with an opportunity to trade two most popular instruments on the cryptocurrency market, BTCUSD and ETHUSD, which are available in MT4, MT5, and R Trader platforms.

Cloning BTC Doesn't Fix Its Flaws, Weiss Rating Believes

Researchers from Weiss Rating says that "Bitcoin is as brilliant as it is flawed", and, unfortunatelly, clons inherit its flaws
24 April 2018   17

Clones of Bitcoin has BTC's flaws. This idea Weiss Rating tries to provide in its new research.

Weiss notes that bitcoin was conceived as the basis of a fundamentally new financial system, over which no centralized structure would have control. Nevertheless, as the development of the crypto currency, its shortcomings become more and more obvious. They flow, according to the rating agency, from the "disadvantageous position of the pioneer" bitcoin.

As is often the case with the first iteration of any new technology, it is slow, expensive and has fatal design problems that are not easily overcome.
 

Weiss Ratings

These are main BTC disadvantages: 

  • There is no easy way to upgrade Bitcoin’s protocol (software code).
  • Transactions take up to an hour to confirm. 
  • Another major design flaw is lack of “settlement finality,” meaning that a transaction is never truly closed in an accounting sense.
  • Bitcoin has a limited supply.
  • Bitcoin cannot be used as a real currency. 
  • Bitcoin mining (based on Proof-of-Work) is very centralized, with just a handful of miners controlling the majority of the hash power.
  • Bitcoin mining requires the consumption of ever-increasing amounts of electricity.

Here’s Bitcoin’s strength, its first-mover advantage: Despite all its deficiencies, Bitcoin can boast one thing that no other cryptocurrency in the world has: global brand recognition. Most people around the world have heard of Bitcoin; they know what it is.
 

Weiss Ratings

Unfortunately, trying to solve one or two problems, copies of bitcoin still inherit its fundamental weaknesses: low speed, inability to scale, high costs, energy inefficiency, lack of privacy, etc.

Weiss recognizes that Bitcoin Cash, for example, is 8 times faster than the original bitcoin. Bitcoin Gold is more decentralized from the position of mining. But this is hardly enough.

This are the problems of "BTC Copycats":

  • The Bitcoin copycats still use deflationary models.
  • They still rely on unsustainable electricity consumption for securing their networks.
  • They still rely on a fee structure that gives too much power to the miners, often creating conflicts of interest between them and the end-users.
  • They’re still plagued by the difficulty of upgrading the protocol.