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Litecoin is an important part of the cryptocurrency market place as it’s intention is to function like a pure digital cash. This coin is often called the silver to Bitcoin’s gold and is known to be fast and cheap to use for transactions.
Despite being more like a currency than other crypto-assets, Litecoin still plays an important role for cryptocurrency traders. Those trading on Mine Steady Trading can utilize a number of advanced trading tools and strategies to make successful trades with Litecoin.
Mine Steady Trading is a cutting-edge online trading platform offering traders all the tools necessary to buy, sell and trade Litecoin in the cryptocurrency market. Mine Steady Trading features a third-party service called CEX.io that allows the exchange of other crypto-assets, fiat currencies, and more for Bitcoin.
In addition, users can purchase Bitcoin with a credit or debit card to fund their trading accounts and get started trading Litecoin immediately. Alternatively, users may deposit their own Bitcoin to the Mine Steady Trading wallet BTC address.
Why Trade Litecoin with Mine Steady Trading
- Easy to startStart trading in minutes with quick and easy registration procedure, and low minimum deposit
- Low trading feesSave on fees! Benefit from Mine Steady Trading’s low commission rates and tight spreads while trading all available assets
- Secure tradingEnjoy Mine Steady Trading’s security features that will ensure your personal data and funds are always safe.
- Best-in-class trading platformMine Steady Trading’s award-winning software offers traders a variety of professional trading tools. Access cryptocurrencies, stock indices, commodities, and forex from a single account!
Start trading in minutes!
How does Litecoin margin trading work?
Margin trading means that a trader has decided that they want to make a trade that is bigger than the capital they have, and look to the platform to borrow these funds in order to make a bigger Litecoin position
Margin trading means you do not have to deposit the full amount of the position you want open and rather you borrow these funds to leverage the position. If the trade is successful, the profits are also magnified, but if your trade on the Litecoin goes the wrong way, your losses can also be greater.
The benefits of Litecoin trading with leverage
- Magnified profitsMargin trading is known for its ability to make larger trades compared to deposited amounts. Margin trading is one of the most effective ways to increase potential returns
- DiversificationMargin trading means there is more available traders' capital left on the account which can be used to open new positions. Diversification allows to reduce market risk.
- Gaining from the market fall.Margin trading also allows traders to open long and short positions in order to profit from both growing and falling market.
Litecoin leverage trading example
For example, If a trader takes a short position of 100 LTC on 10x leverage, and the price of Litecoin falls 3% the trader will earn a profit of 30 LTC. A similar spot trade without leverage would result in only 3 LTC earned.
Disclaimer: Margin trading also comes with inherent risks if the position moves against the trade. You should never utilize 100% leverage and never invest more than you can afford to lose.
Normal trade
Leveraged trade with Mine Steady Trading
How to start trading Litecoin
- 1Create Your accountCreate a new account on Mine Steady Trading in less than a minute. Only a registered E-mail is needed to begin.
- 2Fund Your accountEasily deposit funds to your personal trading account. We don’t charge any fees on deposits.
- 3Begin tradingAfter you have made your first deposit to the trading platform, and funded your trading account, you may start trading indices immediately.
Questions about Litecoin Trading
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It’s free to open an account, and there is no obligation to fund or trade.