Cryptocurrency contract trading has been around for almost a decade now, Litecoin being one of the top 7 ranking cryptocurrency can be traded using The Bityard contract trading, spot exchange and copy trade just like any other coin.
In this article, we answer questions on how Litecoin can be traded on Bityard contract trading, spot exchange as well as copy trading.
What is Litecoin?
Litecoin (LTC) is an open-source Decentralized peer-to-peer cryptocurrency that enables secured instant transaction with almost near-zero cost of payment, Litecoin is an early bitcoin spinoff (Altcoin), it’s considered to be an advanced form of Bitcoin with an average block-time of 2.5 minutes.
Litecoin was released by Charlie Lee (a former Google employee) on 7th October 2011 via an open-source client on GitHub, Litecoin is licensed under MIT License and uses the script based network algorithm in its proof-of-work.
From the onset of its release till date Litecoin has experienced a tremendous rise both in its price and in the total market cap, the price of Litecoin analysts have been estimated to surpass $500 before the end of 2022, thereby surpassing its all-time high (ATH).
LITECOIN PRICE STATISTICS
Litecoin price $146.40 (as of the time of writing this article)
Market Dominance 0.95%
Market Rank #7
Market Cap $9,688,989,939.15
All Time High (Dec 19,2017) $375.29 61.05%
All Time Low (Jan 14,2015) $1.11 13023.49%
Litecoin ROI $3298.98%
Circulating Supply 66,289,591 LTC
Total Supply 66,289,591 LTC
Maximum Supply 84,000,000 LTC.
QUESTIONS/ANSWERS ON HOW TO TRADE LITECOIN ON BITYARD CONTRACT TRADING, SPOT EXCHANGE, AND COPY TRADING.
First of all, To proceed with any trading on Bityard you have to register using this Link this will take only 30 seconds.
What Is Bityard?
Bityard is a worldwide renowned cryptocurrency/Derivatives trading platform based in Singapore, they offer contract trading, spot exchange, and copy trade services for both cryptocurrency pairs and Derivatives. It provides a safe, simple, and very fast cryptocurrency trading environment and is available in more than 150 countries around the world.
Bityard offers a well-leveraged market for investors (up to x100) and is also fully regulated and compliant with international Laws.
What are the cryptocurrency pairs supported by Bityard?
Cryptocurrencies contract trading pairs supported by Bityard includes;
Bitcoin (BTC/USDT), Ethereum(ETH/USDT), Litecoin (LTC/USDT), Ripple(XRP/USDT), Dash (DASH/USDT), BitcoinCash (BCH/USDT), Chainlink (LINK/USDT), Ethereum Classic (ETC/USDT), Tron(TRX/USDT), Cardano(ADA/USDT), EOS(EOS/USDT), Cosmo Atom (ATOM/USDT), Polkadot (DOT/USDT), Kyber Network(KNC/USDT), Uniswap (UNI/USDT), Stellar Lumens (XLM/USDT), Ox (ZRX/USDT), Tezos (XTZ/USD), Basic Attention Token(BAT/USDT).
Derivatives contract trading offered by Bityard;
Natural Gas, Nasdaq 100, China A50, Silver, Crude Oil, Mini Dow, Gold, Copper, DAX, Nikkei225, Hang Seng.
What is Litecoin contract trading?
Litecoin Contract trading is a type of strategic trading whereby investors are allowed to trade in any direction of the cryptocurrency securities (Litecoin) in other make a profit based on the settled price difference between the opening and closing trade prices without actually holding the asset (Litecoin).
With these method investors tend to make more profit faster than when they actually hold the asset (Litecoin), investors are also hedged from the risk of possible devaluation of the cryptocurrency (Litecoin).
How to trade Litecoin on Bityard contract trading?
The Bityard contract trading for Litecoin involves speculating the direction of the price movement of the LTC/USDT pair within an estimated period(customizable), thereby making profit based on the settled difference between the opening and closing prices of your initial entry without actually holding the Litecoin.
To be able to trade, following registration, the investor needs to make a deposit into their Bityard Accounts by;
- Selecting deposit on my Assets page.
- Selecting the desired currency in the Currency Option.
- Copying the displayed deposit address or QR code on the right side.
- Finally, Depositing into the copied currency address.
NB; – Deposit the right cryptocurrency into its own address.
-Deposit addresses may change, so always confirm the deposit address on the deposit page before each deposit.
– All Deposits on Bityard are made using cryptos.
– Cryptocurrency deposit requires network node confirmation; Different currencies require different confirmation time (Normally 10-60 minutes).
After confirmation of deposit, investors can now trade LTC/USDT pairs using the following steps;
- Click on the contract icon on the front page, then click on the crypto icon for desktop users, for mobile users the LTCUSDT pair is already on the front page as one of the recommended pairs.
- Navigate to the LTCUSDT pair on the Main area, and click on it (for desktop users).
- This new tab will display the LTCUSDT pair chart (from Tradeview), Showing the live price movement of the LTCUSDT pair at the moment (The same for both desktop and mobile users) NB; you can now add indicators (SMA, VWAP, BOLLINGER, STOCHASTIC, etc.) to your chart.
- Select the leverage you wish to trade with (ranging from x5 – x50 for the LTCUSDT pair)
NB; this determines the quantity of Litecoin assets you can be allowed to buy or sell.
- Select the desired margin you wish to trade with (minimum margin = 5USDT, maximum margin =1000USDT).
NB; This determines the quantity of Litecoin (Qty LTC) you want to buy or sell at the moment using XUSDT.
- Click on Transaction settings or on the TP/SL Ratio icon(desktop users) to Set your desired percentage Take profit/ Stop Loss level (This is very important especially for beginners), Set your overnight trading order (whether to close order or to keep your order open after the closing hour 05:55:00 SGT ), then confirm your settings.
- You can now execute your order by clicking on the BUY or SELL
NB; To keep your order open, Tick the overnight toggle box.
TRADING RULES FOR LTCUSDT PAIR.
Trading hours 7x24hours
Leverage 5x – 50X
Holding Time Permanent
Closing Time Auto closing at 05:55:00 SGT.
Fees Trading fees calculation = Margin X Leverage X 0.05%
Overnight fee calculation = Margin X Leverage X 0.045%
NB; overnight fee is free at 05:55:00 SGT (within 12hrs).
NB; you can monitor your entry using the Live position, Trade History, pending order, and Transaction History at the bottom page.
Open trade TP&SL Ratio can be changed anytime, by clicking on the trade and then on the settings icon.
- Open trades can also be closed anytime the investor wants, by clicking on the trade and then on the close icon.
How to trade Litecoin on Spot Exchange.
Bityard also offers Litecoin Spot exchange to its users, this involves the immediate direct exchange of LTC (at its current market price) with another coin (usually USDT), The spot exchange is usually an instant trade.
The spot exchange option is not yet available for mobile users, Therefore mobile Users have to change their mobile browser into the Desktop version in other to make use of the spot exchange on Bityard.
NB; mobile users can change to the desktop version by (1). using a browser (chrome)and then (2) touching the browser option icon, after which you (3) click on the “Request Desktop site”.
Steps on how to trade Litecoin using spot exchange;
- Login in to your account.
- Click on the spot exchange icon.
- Navigate to the LTCUSDT pair and click on it, This will display the LTCUSDT chart and order book.
- you can now input the price of USDT or the amount of LTC you want to buy or sell at the moment.
- you can input your TP/SL Ratio by sliding the percentage bar above the buy or sell button either to the right or left.
- Click on the BUY or SELL icon to enter your LTC order.
NB; To monitor your LTC Open orders, scroll down to the bottom page to your Open Order, Order History, Trade History, and Funds.
Open Orders can also be closed instantly by clicking on any of the Open Orders and then clicking on the close icon.
How to trade Litecoin using the Bityard Copy trade,
Copy trade is the latest development on Bityard platform, This allows users to automatically copy trades executed by other investors on Bityard financial market.
The main aim of this copy trading is to enable beginners or investors who are too occupied to be able to trade and make profits while paying a little percentage of the profit they have realized
from the trade to the investors there are coping from.
The following steps show how to trade Litecoin using the copy trade on Bityard;
- Login to your Bityard account using mobile or desktop.
- Click on the copy trade icon (for both mobile and desktop users).
- For mobile users;
- Search, Select, and follow the Trader of choice who trades on the LTC/USDT pair.
- Set whether or not to copy the traders’ subsequent trade, while your Open order is still ongoing by clicking on the “Switch toggle box”.
- Set the amount (USDT) you want to copy-trade with.
- Set your maximum daily margin (NB; when this margin is reached for the day you can’t copy trades again).
- You can set the Maximum Position Amount (USDT) from the advanced settings.
- Choose whether or not to close trade alongside the trader, otherwise, trades will be closed according to your own TP/SL Ratio.
- Then click on
- For Desktop Users;
- Click on the following icon of any of the traders who trade on the LTC/USDT pair.
- Set your Desired follow mode, They are two types (1) Fixed Count and (2) Fixed Ratio.
NB; Traders can be filtered based on (1) Style, (2) P/L Ratio in 30Days, (3) trading days.
How to unfollow copied traders
You can unfollow traders by clicking on the traders’ edit icon, then click the unfollow icon (The same for both mobile and desktop users)
How is the copy traders paid?
The traders are paid at the end of the day, from the profit realized by the copier after copying from them based on the transaction fee they opt for in their copy trade account.
Bityard is a highly regulated global renowned trading platform that offers a safe, simple, and very fast contract trading, spot exchange, and copy trade on both cryptocurrency and Derivatives.
The Bityard platform is very easy to use (User friendly and concise), giving most novice traders access to the crypto contract world.
Litecoin, one of the top 7 ranking cryptocurrency can be traded on Bityard using “The Bityard contract trading, spot exchange, and copy trade”, This enables investors to make more profit even in the slightest movement of the price (contract trading), or by the immediate exchange of Litecoin (at the current market price) to another coin within a given period of time (spot trading). These hedges investors from the risk of potential devaluation of Litecoin if they were actually in possession of the coin.
Bityard has also incorporated into their system “THE COPY TRADE” which is a groundbreaking innovation, as this shows that Bityard actually has its investors at heart, this will enable beginners or highly occupied investors to be able to trade and make a profit by copying from the professionals in the trading world.
Bityard has a wide reached coverage that includes over 150 countries around the world, they are highly regulated and also compliant with international laws.
Depositing and withdrawing from Bityard is made using cryptocurrencies and it’s also as simple as ABC.
For more info log on to Bityard (complex contract made simple and transparent)