Technical Analysis Bitcoin
Buy or Sell Cryptocurrency CFDs With Plus500
Trade the world's most popular cryptocurrencies with leverage and 24/7 availability: Bitcoin | Ethereum / Bitcoin | Ethereum | Crypto 10 Index | Litecoin | Stellar | Bitcoin Cash ABC | Cardano. Trade cryptocurrencies with up to 1:2 leverage. You can start with as little as £100 to gain the effect of £200 capital!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 2009 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.e. a smartphone or computer-based electronic device that allows users to buy the digital Bitcoins online. It is not possible to short sell digital Bitcoins.
However, Plus500 provides an alternative easier-to-implement solution in the form of an online app for trading CFDs on Bitcoin (through the BTC/USD pair).
Transactions on the Plus500 app can be carried out in both directions (Buy or Sell), and a high level of liquidity is ensured through the use of real-time price feeds from major Bitcoin exchanges.
Plus500's Bitcoin CFDs are available for trading around the clock and on weekends (except for one hour on Sundays).
How to start trading Bitcoin CFDs?
You can trade Bitcoin CFDs in a number of simple steps:- Log into Plus500 or create an account.
- Search for Bitcoin under Categories > Crypto Currencies or type ‘Bitcoin’ or ‘BTC’ in the search bar.
- Check you are aware of Bitcoin’s properties (expiry, overnight fees etc) by clicking on (i).
- Enter your preferred trading amount.
- Consider placing stop orders: Close at Profit, Close at Loss, Guaranteed Stop and/or Trailing Stop.
- Open a Buy or Sell position based on your anticipation of Bitcoin’s price movement.
- Navigate to the Open Positions screen to follow your trade’s P&L (Profit & Loss). When you wish to close out your trade, simply click on the ‘Close’ button.