What is electronic money?

Electronic money or cryptocurrencies are unique and popular digital currencies that are changing the financial industry in ever-increasing ways. They lack physical form and decentralized nature, achieved through the use of blockchain technology, which makes them ideal for transactions.

Launched in 2009, Bitcoin was the first decentralized digital cryptocurrency. Its characteristics are closer to commodities than traditional currencies. It typically records the highest trading volume on almost all exchanges on which it is listed.

Bitcoin Trading:
When you choose to trade with Bitcoin, the price is usually quoted against USD. In other words, you sell dollars to buy bitcoin. If the price of Bitcoin goes up, you will need to buy BTCUSD to make a profit because Bitcoin is worth more now than it was when you bought it. If you decide to sell BTCUSD and the price goes up, you will lose money.

Important cryptocurrencies other than Bitcoin include Ether (ETH), the second-largest digital currency after Bitcoin, and Ripple (XRP), which remains one of the most attractive digital currencies among traditional financial institutions , to revolutionize cross-border payments and Litecoin (LTC), commonly referred to as the "silver of bitcoin gold."

The price of a cryptocurrency can be affected by many factors, including supply and market demand for it, regulation, news and media, and price speculation.

At IBUTOKA, we offer you the opportunity to trade popular cryptocurrencies without physically owning digital assets, with 24 hour trading, low margin requirements and the ability to trade on both rising and falling prices.

The benefits of trading cryptocurrency-related products