Bitcoin is a form of digital currency and is generally considered as the first of its kind. Currently, it is the most capitalized and traded cryptocurrency in the world. In June 2017, it has crossed $3,000 for the first time ever and analysts predict that its value could even go higher due to global political uncertainties. Its highly volatile nature is one of the primary reasons why investor interest on trading digital currencies has increased over the recent years as the possibility of generating high yields is considerably high.
Trading Bitcoin CFDs Online
If you’re looking for the simplest and safest way to buy and sell this popular digital currency then trading contracts for difference or CFD is the best choice. Rather than purchasing Bitcoins which would initially require you to open a wallet and register to an exchange which currently takes up to 1 month, you can trade immediately and simply speculate on their value like a forex or currency pair. For example, if you believe that the price of this cryptocurrency will rise against the US dollar, then you need to buy let’s say 5 contracts of Bitcoin/USD at 2690. If the price of this pair rose to 2720 and you decided to close your position then you have made 2720 minus 2690 for every contract. That’s a total profit of $150 for your 5 contracts.
Plenty of profitable opportunities!
Numerous brokerages have started to add this asset to their portfolio where you can buy or sell on Bitcoin trades and the good news is that this service is available 24 hours a day. As a bonus, we’ve conducted a thorough investigation to see which brokerages that cater to South Africa have the safest platforms and the best trading conditions. We’ve checked out different companies that offer trading this digital currency and were able to generate this table of recommended brands for South African traders.
Register now with one of our highly recommended brokerages and begin trading Bitcoin CFDs!