What do you need to know to trade Bitcoin?
Bitcoin is a popular digital currency also known as a cryptocurrency or Crypto which was invented in by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It is the original and most widely used cryptocurrency in circulation.
Unlike prevailing payment methods, which rely on centralised payment processing systems, Bitcoin is powered through a cryptographic peer-to-peer network that does not depend on middlemen such as banks or other financial institutions. People who wish to invest in Bitcoin normally need to first setup a digital wallet, i.
It is not possible to short sell digital Bitcoins. Transactions on the Plus app can be carried out in both directions Buy or Selland bitcoin prie high level of liquidity is ensured through the use of real-time price feeds from major Bitcoin exchanges.
Plus's Bitcoin CFDs are available for trading around the clock and on weekends except for one hour on Sundays.
How is trading Bitcoin different from trading Forex or bitcoin prie When trading these asset classes in the form of CFDs, the primary difference between them is a matter of leverage.
The leverage available for Forex CFDs is up to The leverage available for shares CFDs is To learn more about all the trading instruments bitcoin prie at Plus, click here. Please note that as a CFD trader you do not actually own the underlying asset — Bitcoin, Forex pair or stock — but you are rather trading on their anticipated price change, in the form of a Buy or Sell position.
Are there risk management strategies for trading CFDs on Bitcoin? We provide a number of trading tools that can be used as part of risk management strategies when trading in volatile markets such as Bitcoin and other cryptocurrencies. Note that these stop orders do not guarantee your position will close at the exact price level you have specified.
If the price suddenly gaps or slips down or up, at a price beyond your stop level, your position may be closed at the next available price, which can be a different price than the one you have set. This is referred to as 'Slippage'.