Did you know that you can now use Bitcoin to trade CFDs. And it works just like traditional trading platforms. But instead of depositing via fiat currency, you deposit with Bitcoin.
So instead of just hoarding your bitcoins away, they can be used for trading and making money.
What is CFD Trading
CFD trading is an agreement between you and your broker to pay the difference between the opening and closing prices of an underlying asset. That may sound complicated, but the reality is that CFD trading is just like regular trading. In practice, CFD trading will feel just like the trading you’ve done on other financial instruments. You can buy and sell stocks, indicies and commodities and CFDs offers some major advantages over other assets.
Lots of brokers offer CFDs, but there are only a few that accept Bitcoin. By only accepting Bitcoin, these brokers offer a few advantages – let me explain.
The Advantages of Bitcoin CFD Brokers
CFD trading using Bitcoin is a fast and seamless experience. There are no lengthy verification processes to go through, deposits and withdrawals are usually instant and some brokers even allow you to remain anonymous for your privacy.
Trading on WhaleClub
WhaleClub is a CFD broker, that only accepts digital currency. They have a great trading interface that is easy to use with good quality charts. In terms of markets they offer all the major forex pairs, a small selection of stocks, and the basic commodities.
If you don’t want to trade using real money, it’s also possible to sign up for free and trading using a demo account. This way you’ll get to grips with the interface and how things work without risking real money.
Trading on 1Broker
1Broker is a forex and stock cfd broker that runs on Bitcoin. Instead of the base currency being USD or another fiat currency, it’s BTC (bitcoin). This offers a seamless trading experience if you’re looking to trade using your bitcoin.
1Broker also has a nifty copy trading feature. This lets you automatically copy the trades of profitable traders. You simply choose how much capital you want to use per trade and set a limit on the number of trades that will be copied per day. While the copy trading is primitive compared to what you can do on a platform like eToro, 1broker is the only place where you can copy trade using bitcoin.