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Beginner's step on how to trade bitcoins

Steps to trade bitcoins:

1. Open an account

To trade CFDs, you’ll first need an IG

trading account. It only takes a few minutes to

get set up, and you can take your first position

as soon as you’ve added funds.

Keep in mind that, unlike if you were to buy and

sell bitcoin, you won’t need an account with a

bitcoin exchange. That’s because you trade on

the prices offered we derive from multiple

exchanges on your behalf

2. Build a trading plan

You’ve chosen a trading strategy, but if you’re

new to the markets you might want to consider

a trading plan as well. A trading plan can help

you make objective decisions even when the

stake are high, so that you don’t leave trades

open too long – or close them too early.

3. Do your research

Before you start trading, you need to make sure

you’re up to speed with the latest bitcoin news,

in order to best understand what’s next for the

cryptocurrency’s price.

When it comes to interpreting bitcoin’s

behaviour, charts can also be an invaluable

tool. Past data can help you make sense of

how the market is moving, while comparing

timeframes may provide a closer insight into

emerging trends and patterns.

4. Place a trade

Once you’ve settled on your position, you’ll

need to place a trade using our web trading


You’ll enter the amount you want to stake on

your trade in the deal ticket. You can also

define your close conditions: set a stop to

close your position when the market moves

against you by a certain amount, or a limit for

when it moves in your favour. Stops and limits

are central to good risk management .

If you expect bitcoin to rise in value, you'll then

‘buy’ the market. If you think it will fall, you'll


To close your position, you simply place the

reverse of your original trade. So if you bought

in the first instance, you’ll sell the same

amount; if you sold, you’ll now buy. We’ll

automatically fill your deal ticket with the

position size, meaning you simply need to click

‘buy’ or ‘sell’ to close your trade.

Sites to trade your bitcoins

1. Naira ex

2. Naira for dollars