JD.com becomes first platform to accept digital yuan!

December 08, 2020 11:30

JD.com becomes first platform to accept digital yuan!

Chinese e-commerce giant JD.com has become the first online platform to accept the country's new digital currency called the digital yuan. It's part of a test from the country's government who is handing out $3 million in digital yuan in a lottery for residents in Suzhou.

The digital yuan is controlled by the People's Bank of China which is the country's central bank. The bank has handed out digital currency in lottery format a few times before as it strives to lead the way in digital currency payments.

Central banks around the world are keen to adopt digital currencies as they make cross-border payments easier and move society towards using less cash. However, the digital yuan is different from other cryptocurrencies like Bitcoin as it is controlled and issued by the central bank, rather than being decentralized.

Did you know that you can speculate on the direction of JD.com's share price using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!

How to trade JD.com with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the price direction of JD.com you can speculate on the direction using CFDs. To get started, follow these five simple steps:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in JD.com and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

JD weekly chart

Source: Admiral Markets MetaTrader 5 Web, #JD, Weekly - Data range: May 18, 2014, to Dec 8, 2020, performed on Dec 8, 2020, at 7:07 am GMT. Please note: Past performance is not a reliable indicator of future results. Last five-year data not available.


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4.The Analysis is prepared by an independent analyst Jitan Solanki, Freelance Contributor (hereinafter "Author") based on personal estimations.

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