Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

Compare Brokers For Trading Crypto Crosses

For our trading crypto crosses comparison, we found 6 brokers that are suitable and accept traders from United States of America.

We found 6 broker accounts (out of 147) that are suitable for Trading Crypto Crosses.

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Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

Cryptocurrency Pairs

A cryptocurrency or crypto consists of digital or virtual money, generally in the form of coins or tokens. Cryptocurrency was initiated by Bitcoin, the first and most valuable cryptocurrency.  However, due to Bitcoin’s relatively higher price, there can be a larger volume of trading on an average day in less valuable cryptocurrencies such as Ethereum.

At present, cryptocurrencies cannot normally be exchanged directly for physical goods. However, times are changing as companies such as Square Inc. announcing that its popular Cash App will allow Bitcoin to be bought and sold from a user’s balance. Additionally, some online merchants like NewEgg will also accept Bitcoin as a payment method.

On a side note, a popular benefit of cryptocurrencies is that they are free from manipulation by governments and central banks. Arguably, due to the increased popularity and lack of regulatory oversight of these currencies, some countries, such as Russia, China, Bolivia, Ecuador, Columbia and Vietnam have placed restrictions on their use or trading by locals.

What are Cryptocurrency Pairs and Crypto Crosses?

Like the national or fiat currencies traded in the forex market, cryptocurrencies trade in pairs relative to other cryptocurrencies or to fiat currencies like the U.S. dollar or the European Union’s euro. When cryptocurrencies trade relative to other cryptocurrencies, the resulting pair is called a crypto cross.

The number of available cryptocurrencies, and hence the number of cryptocurrency pairs, changes frequently as new cryptocurrencies are issued through their initial coin offerings or ICOs. The current number of existing cryptocurrencies is estimated at over 2,500 and rising.

When newly issued cryptocurrencies are modelled on Bitcoin, perhaps with some changes or improvements, they are called altcoins. A popular example of an altcoin is Litecoin, which was one of the first cryptocurrencies issued after Bitcoin.

Influences on the Value of Cryptocurrencies and Crypto Crosses

The market exchange rate of cryptocurrency and crypto cross pairs can fluctuate substantially, as the perceived relative values of the currencies involved fluctuate up and down.

Factors that influence the crypto markets include relevant news, as well as varying supply and demand factors. Also, both currencies in a particular currency pair can result in valuation shifts. Thus, if the U.S. dollar was appreciating sharply in the currency market, perhaps due to an increase in U.S. employment numbers, then this may reduce the cost of the various cryptocurrencies in U.S. dollar terms.

Another important valuation factor for cryptocurrencies is their usability, in other words, the ability to spend the digital coins on actual goods. For example, if another major retailer announced that they were planning on accepting payments in Bitcoin, then the relative value of Bitcoin would tend to rise substantially versus the dollar.

Top Cryptocurrency Crosses by Volume

Examining the ranking of cryptocurrency pairs and crypto crosses in their trading volume on a particular day, such as the table below, it’s clear that pairs containing actively traded coins with smaller denominations tend to rank higher. This is because the relatively lower price of the ‘smaller’ cryptocurrencies means that a larger volume of trading on an average day can take place.

Name Exchange Last Price Volume
TRX/USD OKEx 0.03408 1.86B
XRP/USD OKEx 0.4123 96.26M
XRP/BTC ZB.COM 0.00003556 88.45M
DOGE/BTC Bittrex 0.00000028 78.93M
LINK/BTC Binance 0.00035142 71.78M
EOS/USD OKEx 6.121 12.56M
XRP/EUR BitStamp 0.3594 3.86M
BNB/USD Binance 34.3536 2.94M
BNB/BTC Binance 0.002955 2.17M
XLM/USD ZB.COM 0.11 1.13M
NEO/USD BitForex 17.64 866.90K
LINK/USD Gate.io 4.09 577.54K
LTC/USD ZB.COM 132.286 246.21K
BCH/USD Huobi 426.97 139.98K
USDT/TRY Koineks 5.8 59.79K
ETC/USD Poloniex 8.1474 22.31K
ETH/EUR Kraken 266.65 16.58K
LTC/EUR Kraken 115.8 16.33K
ETH/BTC Poloniex 0.026283 15.87K
BTC/USD Bitfinex 11,579.00 13.84K
BTC/EUR GDAX 10,119.70 2.18K
BTC/IDR BTC Indonesia 168,001,000 0.38K
FOIN/USD Synthetic 1,336.37 0.00K

List of the most active cryptocurrency pairs with last price and volume traded as of June 30, 2019. Source: Investing.com.

Top Cryptocurrencies in Terms of Market Capitalisation

In comparison to the previous ranking of trading volume, the table below ranks the top 13 cryptocurrencies by their price per coin or token, their market capitalisation and their daily volume traded on June 27, 2019. All of the amounts listed are expressed in U.S. dollars.

Rank Cryptocurrency Price in USD Daily Volume in USD Market Capitalisation
1 Bitcoin $10,975.08  $39.04B $195.19B
2 Ethereum $293.58  $13.64B $31.32B
3 XRP $0.40  $2.92B $17.21B
4 Bitcoin Cash $402.58  $3.08B $7.19B
5 Litecoin $113.92  $5.47B $7.11B
6 EOS $5.70  $4.10B $5.25B
7 Binance Coin $33.69  $351.26M $4.76B
8 Bitcoin SV $197.71  $787.10M $3.53B
9 Tether $0.98  $37.07B $3.52B
10 Cardano $0.09  $225.39M $2.21B
11 TRON $0.03  $1.14B $2.13B
12 Stellar $0.11  $608.38M $2.09B
13 Monero $94.76  $164.41M $1.62B
14 Dash $154.99  $404.55M $1.38B
15 NEO $17.05  $843.74M $1.20B
16 IOTA $0.39  $30.26M $1.09B
17 Cosmos $5.39  $132.72M $1.03B

The top 17 cryptocurrencies ranked by market cap as of June 27, 2019. Source: Livecoinstats

In the table above it’s clear that Bitcoin is the highest performer. With a price per coin of US $10,975.08, a market capitalisation of $195.19 billion and a daily traded volume of $39.04 billion, Bitcoin is far ahead of its nearest fellow cryptocurrencies.

In fact, as of June 27, 2019, second place Ethereum was recording numbers less than a third of those achieved by Bitcoin, with $293.58, $31.32 billion and $13.64 billion respectively. However, it’s important to bear in mind, that these figures don’t represent the overall, or recent, trends in each cryptocurrencies’ performance, and each will fall and rise in turn based on short term market fluctuations.

How to trade Cryptocurrency Pairs

For a full guide to everything cryptocurrency related, including finding the right broker and exchange for you, make sure to check out the BrokerNotes Ultimate Guide to Cryptocurrencies

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