Following the introduction of PayPal (NASDAQ: PYPL) as a payment option, Crypto.com rolled out CFDs (Contracts for Differences) on its app, enhancing trading possibilities for over 40 crypto assets. CFDs operate by tracking asset prices without requiring ownership, enabling users to predict price movements and profit from correct forecasts. The feature is currently accessible in selected regions like Barbados, Chile, Egypt, and more, while other regions like the U.S. and EU await availability.
CFDs offer leverage, allowing users to maximize trading capital by depositing only a fraction of the asset value. This feature also supports diversifying portfolios and enables real-time, mobile-friendly trading experiences. Users can leverage up to 20x in the Crypto.com App for CFDs and trade contracts for various cryptocurrencies, providing extensive trading opportunities unmatched elsewhere.
To begin CFD trading, users need to fund their CFD Wallet, select the asset, choose to buy (long) or sell (short) based on price predictions, specify the contract quantity, and confirm the trade. By investing in a BTC CFD, for example, users can speculate on Bitcoin price movements without owning the asset, while trading on leverage requires only a fraction of the full position value. However, it’s crucial to note that trading with leverage carries risks of potential losses alongside amplified profits.
In a bid to expand its services, Crypto.com recently joined forces with PayPal to enable seamless crypto asset trading through linked accounts in the U.S. Additionally, the company obtained a Payment Service Provider License from the Central Bank of Bahrain, further enhancing its regulatory compliance and paving the way for broader e-money and fiat-based payment services in the region.