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
platform.
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
‘sell.’
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
3.coinbase
4. Hitbtc.com
5. bitstamp.bet
