Money without a middleman
A cryptocurrency is a digital asset you can send directly to anyone, anywhere, without a bank in between. Instead of a bank keeping the records, every transaction is recorded on a blockchain.
A blockchain is a shared record of transactions, grouped into blocks and linked in order, that no single company controls.
Because each block links to the one before it, changing an old record would mean rewriting every block after it, on thousands of computers at once.
The main types of crypto
There are thousands of cryptocurrencies, but most fall into a few groups.
Bitcoin
The original cryptocurrency, often compared to digital gold because its supply is fixed.
Smart contract platforms
Blockchains such as Ethereum and Solana that run apps and host thousands of other tokens.
Stablecoins
Tokens such as USDT and USDC that are designed to hold a steady value against a currency like the US dollar.
How crypto trading works
Like forex, crypto is quoted in pairs. BTC/USD is the price of one bitcoin in US dollars. Buy if you expect the price to rise, and sell if you expect it to fall.
On Hummingbird you can buy, trade and hold crypto alongside your forex positions, and deposit or withdraw in both crypto and traditional currencies.
Know the risks
Crypto prices can move sharply in minutes, and markets are less regulated than traditional ones. Only trade with money you can afford to lose, and consider starting in practice mode.