Introduction
Cryptocurrencies have exploded in popularity in recent years as more and more people learn more about them, and see the potential of these digital / virtual currencies in the years ahead.
As a result of this, some speculators inevitably want to try and make some money by either investing in or trading these cryptocurrencies, whether it’s one of the most popular cryptocurrencies such as Bitcoin, or whether it’s one of the newer relatively unknown ones that has a lot more potential to explode in value.
It is now relatively easy to buy one or more of these cryptos online, but if you are unsure which one has the most potential, or if you are just bullish about the prospects of all the major cryptos, you may be interested to know that there is now a Crypto 10 index that you can trade that includes the 10 most popular cryptocurrencies.
History / Performance
This index was originally launched a few years back as far as I understand, and at the time of writing it is currently up 58.16% since the start of the year, demonstrating the renewed strength and bullishness of the general cryptocurrency market in recent months.
Crypto 10 Index Cryptocurrencies
As I said earlier, this index includes ten of the largest and most actively traded cryptocurrencies in terms of market capitalization, all of which are listed below:
- Bitcoin
- Ethereum
- Ripple
- Litecoin
- Bitcoin Cash
- EOS
- Bitcoin SV
- Cardano
- Monero
- Dash
It is a weighted index which means that the larger cryptos will influence the price movement of the index a lot more that the smaller ones, but it will still give you exposure to many of the most popular cryptos in the world without having to buy any of them individually.
Where to Trade the Crypto 10 Index
I first learned about this particular index on IG.com, and have actually added it to my shortlist and been tracking its price movement ever since, but I understand that it is also possible to trade this index through Plus 500 as well.
It is worth noting that as well as being able to open long positions, you can also enter short positions if you feel that many of the major coins are overvalued and likely to fall in the near future, which gives you a lot more options as a trader.
Final Thoughts
It should be pointed out that this is not the only index that groups together many of the most popular cryptocurrency tokens. You will find that some brokers have developed their own indexes that enables their customers to buy or sell a large basket of cryptocurrencies.
However I just thought I would bring it to your attention because I know that many of my readers like to trade with IG, and a few people have asked me if there are any indexes or ETFs that include all of the most popular tokens collectively. So hopefully you will find this article useful.
Please remember that cryptocurrencies are highly speculative, and it is possible to lose all of your capital.