Buy and Sell Bitcoin on Plus500 (CFDs)
Ever since its development in 2009, Bitcoin has been a highly debated topic of conversation. Whereas previously, it was relegated to deep web perusers and Reddit tech devotees, now it’s hard to be in any coffee shop whether suburb or major city for five minutes without its name being uttered like a resistance movement. For this buying and selling example, we’ll use Plus 500’s, a reputable online CFD brokerage to help you start your investing journey. After hearing all this stuff, it’s time to find out how to buy and sell bitcoin on Plus500 (CFD broker).
What is Plus500?
Plus500 was founded in 2008 and is an online CFD trading platform for financial investment options such as CFD stocks, commodities, ETF, and the Forex market. Recently, the platform has accepted the trading and selling of CFD cryptocurrencies.
The company operates in Israel and has regulated entities in Australia, UK, and Cyprus. Plus500 Ltd is listed on the Main Market of the London Stock Exchange. This means that it’s easily accessible and traders worldwide can use its platform and start trading.
Is Plus 500 Reliable?
Plus 500 is more efficient than other online trading brokers because of its longevity. Since it’s been in use for almost a decade, it has a good track record and is a trustworthy platform to use.
There are also more layers of protection that Plus 500 provides to their clients.Each of these rules is made to protect client’s financial integrity and
- Plus 500 doesn’t use their money for hedging; it doesn’t use their client’s money for this reason.
- Everyone’s money is placed in a segregated client bank account that follows the Financial Contract Authority’s rules for regulating client’s rules.
- It doesn’t create speculative positions with the client’s money or in the market.
- Plus 500 doesn’t have exposure to sovereign or foreign debt.
- Retail client’s money is not invested in other markets.
- Due to their strict rules on trading and protecting their client’s assets, Plus 500 is great for users to buy and sell bitcoin. It’s a trading broker that follows all financial rules and regulations. As a result, it’s user base rise up to 105,000 users making up most of UK’s participating investment market. You can find out more about Plus500 here.
How To Start Buying and Selling Bitcoin on Plus500 (CFD Broker)?
Trading on Plus 500 only requires your email address to get started. Once you’ve created your account, do the following steps to buy and sell bitcoin on Plus500:
- Click “Real Money.” This allows users to use their bank account to open and close trades within the cryptocurrency market.
- Log onto Plus 500’s main menu located on left portion of the page. Click ‘Trade’ to receive a list of the tradable options that are available. Plus 500 has an advanced CFD trading brokerage software that allows users to trade CFDs like forex, stocks, commodities, cryptocurrencies efficiently.
- For example, you want to buy Bitcoin on. First, go to Trade > Crypto > Cryptocurrencies and find Bitcoin on the list. Alternatively, you can search Bitcoin from Pluss 500’s upper left corner that’s located next to the logo.
- Once you click on the Bitcoin row, the information about the cryptocurrency is located on the right of the trade option.
- Click buy after you find Bitcoin on Plus 500’s network. The trading position will be shown in the “Open Positions” section or on the Bitcoin option itself. You can find a more detailed info in our Plus500 Tutorial: How to open and close a trade at Plus500.
How to Manage Your Risk with buy and selling bitcoin on plus500
Create a stop-loss and a stop-limit if you’re trying to trade more effectively and prevent having a loss on Plus 500. The stop loss will close the bitcoin position if its value goes a certain price number/percentage. For instance, when you open a bitcoin option at $2,000, you can create a stop-loss a $1,000 so that it closes the position.
But what if you want to stop holding Bitcoin once you received a profit? Create a stop-limit so that you can sell your bitcoin once it exceeds your expected value. This ensures that you can automatically sell your bitcoin and is a great technique for both short term and long term traders.
Still, it’s important that new investors learn how to buy and sell bitcoin. Its simple interface will help you easily find it and open a position. Ultimately, following our advice will help you invest more effectively and participate in the ongoing cryptocurrency market.
For question about using Plus500, please put them in the comment box below.
Trading Tutorial: How trade bitcoin on Plus500 for profits
*72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.