How to trade Bitcoin

What do I need to do to trade bitcoin?

There are 2 ways to get involved with bitcoin:

1. open an account with a reputable exchange like MtGox and deposit a sum of money with them which enables you to buy and sell bitcoins. However, you cannot take a short position i.e. sell bitcoins you do not already own. There is the additional risk of protecting your wallet from theft.
2. open a trading account with Plus500 (simply click on the banner ad above), provide an email address and a password and thats it!

Signup Bonus

Under the current signup promotion, once you have registered your account, GBP 20.00 will be credited to your account so you can trade immediately without risking any of your money. At a bitcoin price of USD 1,000, you could trade 10 contracts requiring approx GBP 8 initial margin and GBP 4 maintenance margin. But that will only leave you with an available balance of GBP 12.00 - a downmove of USD 200 in the price would wipe out your account. The ID Verification bonus of GBP 10.00 would help keep your account in positive territory if you  suffer losses. Setting up the account is free but the signup bonus is a time limited offer.

Demo Account Mode

You can also trade a demo account which allows you to place buy and sell orders with a dummy balance. These types of account are a great way to practice your trading skills without risk to your capital. When you have registered your account by clicking on the banner above, the main account menu allows you to switch between real money mode and demo mode in a single click.

Deposit Bonus

When you are ready to trade real money, you can add funds easily to your account: credit & debit cards, PayPal, Bank transfers and Skrill are all accepted. If you deposit any money, you will get a further 5% bonus e.g. GBP 20.00 on a GBP100 deposit. This is a time limited bonus.

ID Verification Bonus

Plus550 will give you a further cash bonus of GBP10.00 if you verify your ID. Simply take a photo or scan your ID document (passport, driving licence) and use the link in your account to upload the image. Again this bonus is time limited so register your account now to secure these useful bonuses.