CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Do you want to buy bitcoin or other cryptocurrencies for the first time? This can easily be done via online services, which we will discuss here first.
Risk warning: the crypto market is unregulated. A cryptocoin can rise sharply in value in a short time, but it can also come down fast. Therefore, only invest with amounts that you can lose completely and make sure that crypto investments are only a very small part of your total investment portfolio.
If you want to buy crypto coins as a beginner, take a look at our selection of websites. These are all reliable and user-friendly websites.
After creating an account, buying Bitcoin, Ethereum, Litecoin, Dogecoin, Shiba Inu or other altcoins is really child's play. But before you can make a purchase, you usually have to go through a few steps to confirm your identity (KYC: Know Your Customer). Sometimes you can buy immediately for very small amounts, but to increase the allowed purchase limits your account must be 'verified'.
The big advantage of all these services is of course the ease of use. Even if you know nothing about blockchain and cryptocurrency, you can still buy cryptocurrency on these websites and make use of their online wallets. They are without a doubt ideal solutions for beginners who want to explore cryptocurrency for the first time. But these websites can also be interesting for more advanced people, for example to use the payment cards to spend your crypto in shops and online. For example, you could regularly send an amount from your hardware wallet to a wallet on one of these exchanges, so that you can easily spend your Bitcoins.
The only drawback of all these online services is that you again choose a central party to manage your wallets, while the whole idea of cryptocurrencies is to decentralize everything. In this way you don't need an intermediary. Such a service could, for example, block your account or if the company is hacked, your bitcoin could be stolen. If you really want to invest for the long term, it is best to use your own physical or hardware wallet, but more about that later.
If you want to trade cryptocurrencies, you can use CFD's (contracts for difference). With CFD's you can buy or sell a contract that gives you 100% exposure in a cryptocurrency while you only have to invest a smaller amount of cash (the so called margin). Here are a few CFD brokers that offer crypto trading: