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plus500 allows speculating on bitcoin with cfd

Discussion in 'CryptoCurrency' started by seoguy0, Aug 4, 2017.

  1. seoguy0

    seoguy0 Junior Member

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    Just noticed plus500 allows speculating on bitcoin with CFD, meaning returns are much much higher. And vice versa, losses might happen much much bigger. I've already turned 100$ into 258$ at this minute, bought yesterday believing there is no reason it should fall. Just wanted to share and hear your opinions on CFD trading on bitcoin
     
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  2. IamNRE

    IamNRE Jr. VIP Jr. VIP Premium Member

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    Under rated thread.

    People are snoozing.
     
  3. LukaB

    LukaB Jr. Executive VIP Jr. VIP

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    Isn't it basically like eToro?
     
  4. IamNRE

    IamNRE Jr. VIP Jr. VIP Premium Member

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    Yes, its like eTorro.

    You are highly leveraged, I just had a look at their website for bitcoin its 30:1 leverage.

    So basically you invest $1 and its like you are investing $30. You can make bigger profits. I mean bitcoin has doubled in the last month or so and it looks like its only going to keep going this way - and the big players (the institutional players / pension funds / hedge funds / sovereign wealth funds) haven't even really started putting their money into crypto currencies - when they do... some serious money is going to be made by the early investors.
     
  5. LukaB

    LukaB Jr. Executive VIP Jr. VIP

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    Higher leverage = higher risk.

    I recommend everyone to read a lot about it before doing leverage especially considering that Cryptos are VERY Volatile to the point where leverage will become a gamble.

    Just like with currencies you can do x400 leverage (Your $1 is basically $400). People lose a SHIT TON on the stock market due to leverage. Just wanted to put my 2c out there so people don't lose money.
     
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  6. Brithos10

    Brithos10 Regular Member

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    So if I buy 50€ euro of BTC I will revive 1500€ euros in BTC ?
     
  7. LukaB

    LukaB Jr. Executive VIP Jr. VIP

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    No, you won't own any bitcoins as you're basically BETTING whether it will go up or down. with 30x leverage you're gaining money 30x faster, and losing it 30x faster.

    if you buy the actual coins, even if Bitcoin goes down to $1 you'll still own them. While let's say right now BTC is $5k , and you do 30x leverage, if BTC goes down to $4.8k , you'll lose ALL your money. I'm not sure if it's exactly 4.8k, but just trying to explain it simpler to you.

    30x leverage = you're bound to lose money. It's a VERY volatile market.
     
  8. IAmTheBlackBear

    IAmTheBlackBear Newbie

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    Hello mate, would you mind PM me? I got some Facebook problem and seems that you are used to the Facebook Platform.
     
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  9. IamNRE

    IamNRE Jr. VIP Jr. VIP Premium Member

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    There is more than one way to make money with CFDs. Why dig for gold when you can sell shovels ;)

    But you are right... you can lose a LOT of money really quick - however, you can use automatic triggers that will stop trading and exit trades if you hit a certain target (so that you don't lose money or profits).
     
  10. IamJustaDog

    IamJustaDog BANNED BANNED

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    I read your post on a thread where you wrote that you sell fb ad accounts , I need some can you PM me
     
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