Bitcoin can be exchanged, traded and speculated upon in the same ways as traditional currencies with a bitcoin account. As a cryptocurrency, trading bitcoin is normally done with a bitcoin account or virtual wallet that is used to hold the currency. Around six million people have a bitcoin wallet and use the currency to buy all sorts of goods. At ADS Securities we offer the opportunity to trade CFDs on bitcoin with many of our account options.
What is a Bitcoin Account?
A bitcoin account or wallet is essentially an online bank account for the cryptocurrency, which allows people to store, receive and send bitcoin to others. Each bitcoin account has its own name and can be used across mobile, web and desktop applications to exchange the currency.
However, making a bitcoin transaction can be a lengthy process, as each one has to be verified by blockchain. Plus, many bitcoin accounts have a maximum amount that can be sent within 24-hour periods and cut-off times to do so. Trading CFDs on bitcoin provides a quicker and more flexible way to go long or short on the cryptocurrency.
Trade CFDs on Bitcoin
Setting up a bitcoin account or wallet can be a slow process to just exchange the currency. For a quicker and more convenient way to trade on the price of bitcoin you can do so by trading CFDs with one of our ADS Securities accounts.
There is a finite number of bitcoin available (21 million), which can be broken down into an infinite number. This offers plenty of opportunities for the cryptocurrency’s value to change and with CFD trading you can go long or short, speculating on upwards and downwards trends and benefit from great leverage.
The price of bitcoin will be quoted against the USD and there is flexibility on trade sizes, with one CFD equal to one bitcoin. Login to your existing account or create a new one to start trading.
Open an Account with ADS Securities
While you can’t open a bitcoin account to hold the cryptocurrency like a bitcoin wallet does, we provide a range of account options that allow you to trade CFDs on bitcoin. Sign up today to first practise with a demo account and then open a live account and begin trading CFDs on bitcoin.