How to open an FBS account?
Click the ‘Open account’ button on our website and proceed to the Personal Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading.
How to start trading?
If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account. You may want to test the environment with virtual money with a Demo account. Once you are ready, enter the real market and trade to succeed.
How to withdraw the money you earned with FBS?
The procedure is very straightforward. Go to the Withdrawal page on the website or the Finances section of the FBS Personal Area and access Withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.
Forex renowned brokers announced that they will be adding the availability of Altcoins trading instruments on their Forex platform.
DEFINITION of 'Altcoin'
Once you begin to get involved with cryptocurrencies, you may be deeply surprised to learn that Bitcoin actually has hundreds of alternatives available today, each with unique differences, functionalities, and purposes.
Altcoin means alternative coins and is another term for cryptocurrencies. Since its’ release in 2009, many have noticed its crucial advantages over fiat money, while also accepting the fact that some of its aspects can be significantly improved. That has lead to the appearance of hundreds of different Altcoins, which are all ultimately based on the same technology of the Blockchain but are designed differently in some ways, in order to achieve different goals.
BREAKING DOWN 'Altcoin'
The word “Altcoin” is an abbreviation of “Bitcoin alternative,” and thus describes every single cryptocurrency except for Bitcoin. Altcoins are referred to as Bitcoin alternatives because, at least to some extent, most Altcoins hope to either replace or improve upon at least one Bitcoin component.
Most Altcoins are little more than Bitcoin clones, changing only minor characteristics such as its transactions speed, distribution method, or hashing algorithm. They are mostly peer-to-peer, involve a mining process and offer efficient and cheap ways to carry out transactions on the web. But even with many overlapping features, altcoins vary widely from each other.
Even with many close competitors, Bitcoin is still leading the virtual currency pack. Newer and more innovative versions are getting launched that offer modifications in areas like transaction speed, privacy, proof-of-stake, DNS resolution and more. However, some Altcoins innovate by experimenting with useful features Bitcoin does not offer. List of 478 Altcoins includes Litecoin, Dogecoin, Peercoin, Feathercoin, Zetacoin, Novacoin, etc. Most of these coins do not survive for very long. One exception is Litecoin, which was one of the first Altcoins.
Many cryptocurrency experts argue if Altcoins are necessary or not and doubt their success because it’s hardly possible to rival the infrastructure Bitcoin boasts. However, Altcoins serve an important role. Decentralization is one of Bitcoin’s most prominent goals, and Altcoins further decentralize the cryptocurrency community.
2022-12-12 • Updated