When you trade via an exchange, you will need to create an exchange account as well as open a crypto wallet where you will be storing your coins.
With an exchange, you own actual coins in digital form and must store them securely. You will generate a profit when the value of the underlying coin you are holding increases and you sell the coins at a higher price than that which you had initially bought for. If you sell at a price lower than the buying price, you incur losses.
In contrast, with a CFD brokerage firm, you do not own the underlying coin or token – you simply speculate on its price changes.
If you place a buy order, you generate profits if you exit the trade position at a higher price. You incur losses when trading crypto CFDs if your price prediction is wrong. CFDs offer a lucrative way of trading the volatile cryptocurrency market, and investors can also benefit from leveraged trading.
At TradeFills, we offer you the chance to trade a selection of leading cryptocurrencies. This means you can speculate on whether you believe the price will rise or fall. When you trade with us, you can take advantage of some of the industry’s leading crypto conditions, including low spreads.
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