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Bitcoin trading is how you can speculate on movements in the cryptocurrency’s price. While this has traditionally involved buying bitcoin through an exchange, hoping that its price will rise in time, cryptocurrency traders are increasingly using derivatives to speculate on both rising and falling prices – in order to make the most of bitcoin’s volatility.
With IG, you can take a position on the price of bitcoin with financial derivatives like CFDs. This product can enable you to take advantage of price movements in either direction without taking ownership of the underlying coins – meaning you won’t need to take responsibility for the security of any bitcoin tokens.
Day trading bitcoin means that you’ll open and close a position within one single trading day – so you won’t have any bitcoin market exposure overnight. This means that you’ll avoid overnight funding charges on your position. This strategy could be for you if you’re looking to profit from bitcoin’s short-term price movements, and it can enable you to make the most of daily volatility in bitcoin’s price.