There has been a lot of interest in cryptocurrencies lately and we are starting to learn that there are opportunities in it for traders.

Ethereum is a digital platform on which a whole range of applications can be built, including identity software, security programs and, of course, methods of payment.

So while the cryptocurrency itself is often referred to as ‘ethereum’, its more accurate name is ‘ether’. As it is virtual, it is not under the jurisdiction of the central banks.

IN order to trade etheruem token, you can buy/sell on an exchange plus a virtual wallet which take ages to set up. Alternatively, you can now trade CFDs on ether, you never actually own the cryptocurrency. This means all you need is an IG trading account, which takes less than a day to get it up and running.

You can now sign up for an igmarkets (SG) account through this link with a S$100 credit in your account to start trading with conditions met. You can open the account through this link.

Just like trading forex pairs, the pairs are name ETH/USD, ETH/EUR. There is a spread to it. You can choose to go long or short. As it is volatile ‘asset’, it is important to know the risks involved and set the stops according to your own risk appetite. As it is a CFD, there is also a loan interest, Always check out the overnight interest before plunging into the trading of Ethereum.

By Harry