Intro To CryptoAltum
CryptoAltum, a commission-free CFD trading platform that only takes deposits in cryptocurrencies, will soon launch a new website showcasing the platform’s most unique differentiators in terms of value propositions. CryptoAltum’s main showcased factors include more than 60 cryptocurrencies that users can bet against in terms of price volatility. In addition, the company offers 1:500 leverage whereas most other competitors in the space such as Plus500 and eToro offer 1:30 leverage and TradeDirect offers 1:200 leverage. These value propositions make CryptoAltum a uniquely positioned platform for users to test out.
A CFD according to the CryptoAltum website, is a “derivative instrument, whereby trading is based purely on price speculation of the underlying instrument, with no physical exchange of an asset taking place.” This allows users to profit off of correct predictions around cryptocurrency prices in a more efficient way.
CryptoAltum, as opposed to competitors such as Plus500 and TradeDirect, is not based in Australia or regulated by ASIC. This can serve as a double-edged sword. Because CryptoAltum does not currently require any KYC, theoretically any person could sign up while protecting their personal identifiable information. This also decreases the barriers to entry for users of other platforms which may need to wait for their KYC to clear. Users will not be limited to only certain platform features unless they submit more personal information similar to a typical cryptocurrency exchange.
Many CFD platforms make money on deposit or withdrawal fees. However, CryptoAltum does not