There is a lot of talk about cryptocurrencies these days! But what exactly are Cryptocurrencies? Here are some things you need to know about crypto!

The emergence of cryptocurrencies has been a game-changer in the financial world, as they provide decentralised networks where transactions can take place without the need for intermediaries! Unlike traditional financial institutions and central authorities, transactions can be conducted without the involvement of middlemen.

In spite of the fact that they are quoted in conventional currencies like dollars, cryptocurrencies do not possess any real-world counterparts, nor are they backed by a central bank of any sort.

Just like a stock or currency, cryptocurrencies are governed by the law of supply and demand. As a result, the price of cryptocurrencies fluctuates based on the number of people interested in purchasing or selling them.

In recent years, cryptocurrencies have grown at a rapid rate, largely due to the blockchain network, which opens up new possibilities all the time. Oxxon offers trading CFDs on some of the biggest cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Cardano, Ripple, Stellar, Chainlink, and EOS.