Shortly after integrating PayPal (NASDAQ: PYPL) as a payment option, Crypto.com introduced Contracts for Differences (CFDs) on its platform, aiming to expand trading opportunities for over 40 different crypto assets. CFDs enable users to speculate on the price movements of assets without owning them, allowing for leverage and diversification of trading portfolios. Currently available in select regions like Barbados, Egypt, and India, CFD trading on the Crypto.com app offers up to 20x leverage and contracts for a wide range of cryptocurrencies. Users can easily engage in CFD trading by funding their CFD Wallet, selecting an asset, choosing to go long or short, entering the desired contract quantity, and confirming the position. While leveraging can enhance profits, it also increases the risk of potential losses. This move follows Crypto.com’s recent collaborations with PayPal for seamless trading and the attainment of a Payment Service Provider License from the Central Bank of Bahrain to enhance its financial services offerings.
