A Contract for difference allows a trader to benefit from the price movements without having to actually buy the underlying asset. I've traded cryptocurrencies in the past but now I’ve shifted to trading CFDs with Coinexx and Cryptorocket because of a number of reasons:
1. The most significant advantage of trading CFDs is the ability to use leverage. The potential benefits of leverage are not unknown to any trader. You can increase your position size as well your returns by trading through leverage. However, the downside of trading with leverage should also be remembered and one should not go with a very high leverage.
2. It saves you from the hassle of finding a safe crypto wallet for storing the cryptocurrencies and also from the threats of losing your coins.
3. When you trade cryptocurrencies CFDs it’s easier to convert your profits into fiat money. However many times when traders trade altcoins which are less common, they first need to convert their coins into bitcoin and then into fiat money.
4. If you are a Day trader, trading CFDs can be more profitable because of the lower costs, easier trade execution and minimum initial deposits.
Is there anyone who trades CFDs? What is your experience? Please share your views.
Topic: Why trading crypto cfds is better than owning cryptocurrencies? (Read 23 times)
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