Shortly after integrating PayPal (NASDAQ: PYPL) as a payment option into its platform, Crypto.com unveiled the addition of Contracts for Differences (CFDs) for cryptocurrency derivatives trading on its app. The introduction aimed to expand trading opportunities for over 40 crypto assets. CFDs enable users to speculate on the price movements of underlying assets without owning them, offering exposure to price fluctuations for potential profit. These trading features are currently available round-the-clock in various regions like Barbados, Chile, Mexico, and others, with further expansion planned for the US, UK, and EU countries. The advantages of CFDs highlighted by Crypto.com include leverage options of up to 20x, facilitating diversified trading portfolios and providing a seamless, real-time mobile trading experience. Users can easily engage in CFD trading by funding their CFD Wallet, selecting an asset, choosing to ‘Buy’ or ‘Sell’ based on price predictions, confirming their position, and monitoring it on the price chart. It is emphasized that while leveraging can enhance profits, it also poses risks as potential losses are magnified. The recent introduction of CFDs is part of Crypto.com’s ongoing platform enhancements, following partnerships with giants like PayPal and obtaining a Payment Service Provider License from the Central Bank of Bahrain to expand e-money and fiat payment services globally.
