Traders at SimpleFX will now be able to make deposits with Litecoin, the CFD broker confirmed in a recent public announcement.
The libertarian trading platform, renowned for allowing traders to circumvent identity verification protocols, currently offers over 60 currency pairs, as well as prime instruments from precious metals, indices and oil market. SimpleFX’s submission towards partial-to-full anonymity has ensured that it also finds its niche in the decentralised currency markets, especially Bitcoin, Ethereum and Litecoin.
With that said, the decision to include Litecoin-based account and deposit feature doesn’t actually surprise, considering the platform has already been offering LTC trading instruments — LTCUSD, LTCEUR, LTCCNY, and LTCJPY — since day-one. The cryptocurrency, which has the fourth largest market capitalisation at press time, has a dedicated development and trading community behind it. Its longevity in the cryptocurrency sector has ensured that it could — in future — prove profitable thanks to escalating adoption by the mainstream industries.
And SimpleFX sees just that! The company’s representative stated:
“Litecoin has been known as one of the most popular cryptocurrencies on the market. We have decided to introduce Litecoin based trading accounts in order to meet our traders’ expectations. We strongly believe in a great potential which Litecoin brings about the market.”
Just like Bitcoin, Litecoin accounts at SimpleFX can be opened for free. The CFD broker confirmed that the deposits and withdrawals will be commission free; and that no minimum or maximum deposit limit will be imposed. On the top of it, traders will still be able to enjoy flawless liquidity between Litecoin and other assets, including Bitcoin. An excerpt from their statement:
“We have just introduced litecoin accounts that are both free and anonymous! Wondering about the deposits and withdrawals? Yes, they are free as well. And if you want a smooth transfer from your bitcoin account, it’s also commission-free!”