What’s the future outlook for altcoins?
The future outlook for altcoins is mixed, and the expanded use of crypto as a mainstream form of currency will no doubt be needed for altcoins to catch on in the mainstream. For now, they’re relegated to the side lines of the crypto space – with bitcoin reigning supreme, with that trend set to continue for some time.
How to trade altcoins
Trading altcoins means that you’re taking a speculative position on the price of a coin rising or falling. You won’t ever take direct ownership of the coins, so you won’t need to worry about creating an exchange account or virtual wallet.
Instead, when you trade, you’re using CFDs to ‘buy’ an altcoin if you think its price will increase; or to ‘sell’ an altcoin if you think its price will fall.
Here’s how to trade altcoins with CFDs:
- Create a CFD trading account or log in
- Research the altcoin market
- Search for your opportunity in our trading platform
- Set you position size and any stops or losses
- Open and monitor your CFD trade
If you’re not ready to trade the live markets just yet, you can always build your confidence with our risk-free demo account. You’ll get $10,000 to trade different altcoins – or bitcoin itself – to see how these assets behave, and familiarise yourself with managing risk when trading crypto.