What is 1k?
1k refers to 1000. The k suffix is shorthand for kilo. Other examples include 2k (2,000) and 10k (10,000) and 100k (100,000).
1000k is not common, since this can simply be represented as 1m (or 1 million).
What is 1k money?
1k in the context of money commonly refers to $1k or $1,000, but it can refer to units of other currencies such as £1,000.
What is the 1k.money platform?
1k.money started with a scenario: You have a spare $1k (or $1,000) cash. What assets can you trade this in for a good return? When you consider the huge amount of assets out there, 2 main challenges become apparent:
How do we begin to make sense of the sheer number of assets out there?
1k.money provides a helping hand by aggregating thousands of assets from several asset classes into the one place.
Once we've decided on an assert to trade, how do we start trading?
Depending on the asset, there are barriers that we need to cross before we begin trading. For example if we want to trade physical gold, we have to transport and securely store gold. If we want to trade international shares, we have to register as foreign share holders for tax purposes.
1k.money promotes CFDs (Contracts for Difference) as an effient way to gain exposure to the price of a huge range of assets without physically holding the asset.
Advantages and Disadvantages of CFDs
CFDs can offer several advantages including
- CFDs provide access to a huge range of instruments representing a wide range of asset classes, including internation and local stocks, cryptocurrencies, forex, commodities and more
- Commodity CFDs avoid transport and storage costs that commodity traders otherwise face
- CFDs in international shares avoid administrative hassle of registering as a foreign shareholder
- CFDs help reduce risk of loss or theft that comes with physically holding assets (especially true for cryptocurrencies)
- CFDs give the option to short asset prices, allowing traders to benefit from price declines
CFDs also come with some disadvantages:
- Without physically holding the asset, CFD traders have less control than they would otherwise have. For example, traders can't transfer cryptocurrency out of a CFD exchange because they don't physically hold cryptocurrency.
Discover new assets with CFDs
CFDs (Contracts for Difference) offer a way to gain exposure to a wide range of assets, including local and international shares, commodities, cryptocurrency and more. With CFDs, you can ride price movements of an asset without physically holding the asset.
If you're looking to trade international shares, CFDs can give you exposure to price movements without the administrative hassle and cost of registering as a foreign stock holder.
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