Jump to content

Bitcoin Cash Questions


Recommended Posts

Hey - I'm not sure if you've seen the Crypto mega thread, but hopefully it should answer a number of your questions. For convenience I have copy/pasted a couple of points below. We are currently reviewing our minimum bet sizes, and i'll pass your feedback onto the desk, however at the moment minimum values are unlikely to change. 

 

How does IG price Cryptocurrency?

Bitcoin and Ether is priced by taking a number of different price feeds from some of the largest exchanges and liquidity providers, and wrapping the IG spread about the best bid and offer (sell and buy price) in real time.

 

We price cryptocurrencies in a similar way to how we price our FX markets.  There is a video below which is worth watching, especially from the 2 minute mark, which explains our currency pricing model.

 

 

 

What impacts Bitcoin and Ether spread?

At IG we know that spread is an important factor for our clients, and we have worked hard to create some of the narrowest in the industry for FX, commodities, futures and other asset types. We are continuing this with crypto currencies but there are unique factors affecting these digital assets which mean that the difference between the buy and sell price (the spread) is larger than normal.

 

The market is still in its infancy and liquidity is relatively low. The majority of exchanges we deal with (which are some of the largest exchanges in the world) only have a few coins available at the touch price. For example, if you were to deal 1 CFD contract for Bitcoin (USD) your trade would be the equivalent of buying or selling 100 coins on exchange.

 

Cryptocurrency is priced on multiple exchanges, but there isn’t a singular ‘best bid and offer’. Therefore you get a number of different quotes which need to be taken into account. The list below is an example of the divergence in price on Bitcoin/USD at the moment of going to print for some of largest exchanges by volume (for the preceding 24 hours).

 

Exchange

Pair

24hr volume

Last traded price

Exchange 1

BTC/USD

$158,317,000

$4215.40

Exchange 2

BTC/USD

$66,580,500

$4212.43

Exchange 3

BTC/USD

$56,507,600

$4220.00

Exchange 4

BTC/USD

$52,349,100

$4220.10

Exchange 5

BTC/USD

$25,996,400

$4236.93

Exchange 6

BTC/USD

$22,151,800

$4347.95

Exchange 7

BTC/USD

$18,488,400

$4299.81

Exchange 8

BTC/USD

$11,558,100

$4216.61

Exchange 9

BTC/USD

$6,298,700

$4209.35

Exchange 10

BTC/USD

$4,844,130

$4263.70

Link to comment

I know I keep bring this up, but... The ability to take smaller size positions would really up the number of spreadbets I place.

 

For example, I was looking at Bitcoin Cash, but at £10 per point, even when BCC was in the £350 range, it's was way too much risk for a small investor like me. Obviously, I wish I'd had the **** to buy it then!

 

On the fees side (I'm classing spread as a fee), I'd say IG is good, if you look at the overall cost. All the exchanges I've looked at charge a fee for funding (in fiat) or you have to pay a transaction fee to the network (e.g. BTC). Then on top, exchanges typically charge a percentage fee both when you buy and when you sell. (The only reason I trade Cryptos elsewhere is to buy smaller amounts.)

Link to comment

Hi  - sorry that it's taken me a while to get back to you - this comment slipped passed me. When you first brought this to my attention and I discussed it with the desk they dropped the minimum bet sizes for CFD accounts only. There must have been miscommunication because I assumed they also dropped spread betting bet size. 

 

I double checked and saw that the minimum bet size was £1/pt, however I've spoken to the desk and they have reduced it to the requested 50p. I hope this is beneficial for yourself and the wider community. All the best. 

Link to comment
  • 5 months later...

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • The BLUM project has recently gained attention in the cryptocurrency community due to several developments such as  Introduction of a mining game on the TON ecosystem, allowing users to earn $BLUM tokens.  Announcement of new strategic partnerships Upcoming features including Tribes and Memepad functionalities.  Active community engagement through events and rewards 5. Recognition from notable figures in the crypto space Key upcoming events: Token Generation Event (TGE) for the BLUM mining game scheduled for September 20, 2024 Coinciding airdrop of BLUM tokens to the community The project plans to provide liquidity on centralized exchanges such as Bitget and Binance, as well as decentralized exchanges like Uniswap, Curve, and PancakeSwap. These developments have contributed to increased discussions about BLUM on social media platforms, particularly Twitter. As the crypto landscape evolves rapidly, interested individuals are encouraged to stay informed about BLUM's progress through official channels and related TON communities like r/TONDiscussion.  As with any cryptocurrency project, potential participants should conduct thorough research and consider their own risk tolerance before engaging.
    • Counter Fire is poised to redefine the gaming industry with its innovative blend of competitive gameplay and blockchain technology. The game offers multiple modes, including team-based matches of quads, duos, and solos along with solo missions, with deep customization options and dynamic battle scenarios. While the core gameplay of Counter Fire is similar to PUBG, a battle-royal where the last-man or last-team standing wins in a survival gameplay, users earn while playing Counter Fires. The project has been buzzing the ecosystem as the airdrop claim went live today so users can claim their $CEC and await listing on 9th Sept. While gamers continue to claim their tokens, some analysts have start speculating that the project will redefine the gaming landscape citing the project partnership with likes of YoubiCapital, HASHKEY, KERNEL ventures and many more and the fact that the project raised over $5 million as the base for their argument. The project partnership with Bitget could also be a reason it continues to gain such exposure as players can only claim their token to the exchange. Though, as players claim their token to the exchange, they could benefit some reward from the 1 million $CEC reward pool. I still think many exchanges should list the token so gamers can have many choices.
    • Hi @feirb1, Thank you for your post. Please note that we offer T-Bills for trading on leveraged accounts. By trading these, you will be speculating on the price movements. This means that, when trading, you´ll never take ownership of an actual t-bill. Instead, you´ll take a position on the market either rising in value or falling. Thanks, KoketsoIG
×
×
  • Create New...
us