EXANTE broker starts supporting trading with six cryptocurrencies
Malta-based EXANTE broker has started supporting trading with six cryptocurrencies in addition to fiat money, according to the announcement on the company website.
Now, besides bitcoins, EXANTE supports such cryptocurrencies as Litecoin, Zcash, Ethereum, Ripple, and Monero.
But the broker does not provide a direct access to cryptocurrency exchanges, as the legislation of the majority of countries do not support them. Instead, there are special funds for each cryptocurrency. The exchange rate of each fund share is connected to one of five cryptocurrencies and changed simultaneously. Thus, when a user pays a fund share, the broker buys an equivalent sum of cryptocurrency on its wallet.
Due to this operation concept, users do not have any troubles with tax authorities, because they own only a share. And it is one of financial assets. Customers can conduct all deals using EXANTE standard broker’s account, allowing to trade shares, derivatives, ETFs and other assets. Besides, money on the account can be secured at a sum of up to 20 thousand euros.