SimpleFX has added nine new cryptocurrencies to its online platform. The emerging crypto coins are available for leveraged trading and add to an already established suite of financial products. With 2021 seeing the price of Bitcoin reaching new all-time highs and the overall crypto market reaching $1 trillion, the news of more cryptos will please SimpleFX traders.
The new currencies added by the St Vincent and the Grenadines based broker are:
- Binance Coin
- Cardano
- EOS
- NEO
- Polkadot
- Tezos
- Waves
- Yearn.finance
- Zcash
This is in addition to the six already available, which include Bitcoin, Litecoin, and Ethereum.
Performance of cryptocurrencies has soared in the last six months. In early January 2021, Bitcoin jumped to more than $40,000 (nearly £30k) while Ethereum’s valuation rose more than 75% between 1st and 9th January. The volatility of the crypto market has meant that savvy retail traders have made profits beyond those usually seen on traditional instruments such as forex and stocks. SimpleFX’s broadened offering shows a strategic move to meet client demand for more exotic altcoins.
The new altcoins have not been immune to the recent price jumps.