Saxo Bank: Provide an offer of crypto and bitcoin trading

Danish bank is going to market a trading offer on three cryptos (bitcoin, ethereum, litecoin) to all of its European customers, both private and business. It oversees risk-taking on these volatile assets and proposes a research to assist investors.

So far, Saxo Bank has been famous for its trading offering in the foreign exchange and stock market. The Danish bank will now let its customers, at the beginning of July, also to invest in three cryptos – bitcoin, ethereum and litecoin. Before, they could only do so through financial products that replicate the value of cryptos like bitcoin.

"This caution led us, as a regulated bank, to postpone launch our Crypto FX trading offer on crypto currencies until early July in Europe and the Middle East. We voluntarily limited the leverage effect (NDLR: money lent to boost their investments) to two for private customers and to three for professionals. We want them to engage in these volatile assets in a gradual, reasonable and conservative way by devoting between 1 and 2% of their diversified overall portfolio," said Christopher Dembik, research and strategy manager at Saxo Bank. This year, bitcoin has earned 18 percent, the 11 percent litecoin and 210 percent ethereum. Unlike cryptos, currencies were slightly volatile this year and investors were far less active with big currencies (euro, dollar...).

Source: Website

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