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Frequently Asked Questions

Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to share trading, crypto and a thorough selection of CFDs.

77% of retail CFD accounts lose money

Yes, Elon Musk owns Bitcoin and plans to hold the currency long-term. Elon Musk hasexplicitly said that he owns the coin personally. In addition, Musk's company,Tesla,alsoowns Bitcoinandcurrently holds approximately 1.9billion dollarsworth. In addition, Muskhas claimed thatBitcoin is presently his largest holding. WhyMuskwould decide to buyBitcoin is something youcanreadaboutin our latest article about–(insert article)

No, Elon Musk did not invent Bitcoin, but nobody knows who did. However, Musk has beena great supporterofthe cryptocurrency’ssuccess. In addition, Musk has stated he ownsmultiple cryptocurrencies. Elon Musk has alsosaid in a podcast with Lex Fridman that hedidn't invent Bitcoin, stressing the fact that the creator of the currency plays no significantrole. Elon Musk is also accepting Dogecoinas payment forTeslaproducts. To read moreabout different cryptocurrencies, check out our articles on Bitcoin, Dogecoin and buyingcryptocurrencies.

Nobody knows, but allegedly, the original inventor of Bitcoin is Satoshi Nakamoto. Twoyears after the invention of theBitcoin system, we heard from Satoshi, butnobody has heardfrom him sinceApril 2011.Nobody has ever confirmed Nakamoto's identity, but without a doubt, Nakamoto designed the first blockchain database. Tolearnmore about howBitcoinworks and what exactly the blockchain is, you canread thisarticle: What is Bitcoin? Arecryptocurrenciesa good investment?

Elon Musk is a big supporter of crypto and has backed Dogecoin for several years. The coin started as a joke and a meme. You can learn more about DOGE in our recent article about Dogecoin and the value of investing in crypto (insert link). While Musk seems to like Bitcoin, he has stated that Bitcoin is not suitable as a form of payment. However, Musk claims to be a holder of Bitcoin, Dogecoin and Ethereum and plans to hold the currencies long term.

The company MicroStrategy is allegedly the biggest holder of Bitcoin today. The software company owns around 121,000 Bitcoins at a value of 4,559,137,671 euros. MicroStrategy continues to acquire digital coins and believes in the future of blockchain technology and decentralized finance. In addition, the CFO of Microstrategy, Phong Le, elaborates that the company does not plan to change the strategy in the future.

That depends a little bit on your preferences and investment goals. Suppose you'd just like to diversify your portfolio by being invested in crypto. A regular crypto ETF might be a good choice, but some investors look for a more stable return but still want crypto exposure. Therefore, investors can choose to invest in stable coin ETFs, offering more stable returns over more extended periods. We advise you to read our article about cryptocurrency and whether crypto is a suitable investment for you (insert link). We recommend you research the following three cryptos ETFs: - ProShares Bitcoin Strategy ETF (BITO), the Grayscale Bitcoin Strategy ETF (GBTC) and the Grayscale Ethereum Trust. (ETHE)

21Shares Bitwise Select 10 (TSE) is considered the best ETF for investing in the growth of the overall crypto market. While the ETF doesn't track Dogecoin, the ETF has exposure to Bitcoin and Ethereum, forming around 90 percent of the entire fund. The 21shares Bitwise Select is also relatively young, founded in 2021, and therefore, there is a possibility that it will also acquire Dogecoin in its fund.

Dogecoin is still extremely popular, and even Elon Musk has said that Tesla will accept Dogecoin as payment for the charging stations. In addition, Mark Cuban believes Dogecoin is at its strongest for means of trade, and Cuban now supports Dogecoin as a payment option for the Dallas Mavericks. Many retail and wealthy investors believe in the future of Dogecoin. However, there is fierce competition in the crypto market, and many different coins have appeared that look a lot like Dogecoin, making it difficult to compete for future price changes.

That depends. You should always look at what kind of risk you are willing to take when investing. Next, have a look at your investment goals. Are you looking to invest in Dogecoin short term, or are you in it for the long haul? Regardless, you must realize the key strengths and opportunities of investing in Dogecoin. If you're looking to invest in crypto as a means of diversification, you might want to look at Crypto ETFs.

No, it is not entirely safe to invest in Dogecoin. Dogecoin was initially created as a joke, but investors nowadays take it seriously. Still, it remains a high-risk investment for any investor. As a result, experts advise investing no more than 2 to 7 percent of your portfolio in cryptocurrencies. Furthermore, investing a limited amount is advised because cryptocurrency is still very young and negligible data is available. In addition, the crypto market is volatile, which can be lucrative for investors but poses a higher risk of losing your initial investment.

It's difficult to say. Dogecoin is one of the most well-known altcoins and is similar to Bitcoin and Ethereum. The coin's inception was most likely a joke. It isn't easy to estimate a cryptocurrency's price correctly since the assets are highly speculative. Some firm cryptocurrency believers believe that Dogecoin could exceed $1 way before 2025, while bearish analysts predict prices to go to zero.

Yes, Dogecoin can be a lucrative investment, but an investor must assess their risk tolerance before deciding to invest in Dogecoin or any other cryptocurrency. Investing in cryptocurrencies comes with significant risks. As mentioned in our article on the rise of Dogecoin, investing in speculative coins for the long-term looks more like gambling than investing.

Dogecoin and Bitcoin are somewhat similar. Dogecoin is a cryptocurrency similar to Bitcoin and Ethereum, but it is a very different force than these prominent coins. Dogecoin was named after a meme and was designed, at least in part, as a lighthearted joke for crypto fanatics. Dogecoin is run on its blockchain and uses miners to create new Dogecoin.

Usually, altcoins like DOGE are considered a higher-risk investment than more established crypto, like Bitcoin and Ethereum. However, volumes tend to be higher with established coins, and volatility is lower in bear markets. Being aware of volatility is essential because, as an investor, you should always be mindful of the risks you are taking. Investing in altcoins can be highly lucrative if the coin continues to surge but is considered a much risker investment than Bitcoin.

Price and demand determine the price of digital currencies. However, it does take a significant amount of energy to produce cryptocurrencies. Therefore, if the coin supply decreases and demand stays similar, prices will rise and crypto will become more expensive. Also, the purpose of crypto globally drastically impacts the demand for crypto. If more companies accept crypto as a form of payment, drastic demand changes could cause crypto to skyrocket.

Not really. The cryptocurrency market is relatively young and many analysts remain unsure of what the future holds for new technological advancements in payments with digital coins. Therefore, crypto is considered a high-risk investment due to its speculative nature, and investors should remain wary about the risk of cryptocurrency investments. If you want to read more about cryptocurrency, please see our article: Are cryptocurrencies a good investment?

Crypto is not a safe investment, but there are ways that you can decrease your risk when investing in crypto like Bitcoin. For example, you could increase your exposure to different coins by investing in a crypto ETF. However, if you are looking to invest in individual crypto, then Bitcoin probably poses the least risk as volumes are the highest and Bitcoin is the most established coin so far. Therefore, Bitcoin should pose the least amount of risk of all cryptocurrencies.

Yes, cryptocurrency can be an excellent investment. However, experts advise you to only allocate 3 to 7 percent of your funds to cryptocurrency if you wish to do so. Allocating a small amount of your money to crypto can be an excellent way to diversify your portfolio. However, be aware that cryptocurrencies can also cause significant harm to your portfolio since they can cause heavy price swings in the portfolio. It is also challenging to control your emotions and stay disciplined in your investment strategy when investing in crypto for the long term.

The best cryptocurrency should fit the requirements that you've set for investing. For example, if you are looking for high-risk/high reward investing, you might consider looking at altcoins. If you are looking for stable returns and generally dislike the volatile nature of the crypto market, you might want to look at investing in Stable coins. Suppose you are looking to diversify your portfolio. In that case, you might consider investing in ETFs that spread your money over different crypto and expose your portfolio to the entire crypto market. Finally, you might like the idea of crypto and would like to have some Bitcoin on the side to see what happens.

Cryptocurrency, often called cryptocurrency or crypto, is a digital or virtual currency that uses encryption to safeguard transactions. Bitcoin is not the same as crypto but it is the most known cryptocurrency. Like the US dollar, a cryptocurrency is a digital means of exchange that employs encryption methods to manage the production of monetary units and verify the movement of funds. Technology stores crypto on the blockchain, which safeguards almost all cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

We believe that the best trading app for experienced traders is Interactive Brokers, which fits a self-directed trading approach perfectly. This app is great for professional traders since it offers stock screeners, options trading, pre-determined strategies, etc. In addition, the mobile app looks somewhat like what you would see on the desktop version. The downside of using Interactive Brokers is that the learning curve is rather steep, and traders need to get familiar with the platform to make things work.

As an investor or trader, you should always check the reliability and trustworthiness of the place you put your money. There can be fraudulent apps out there, and you should be careful when using trading apps. The first security precaution should be to only use a trustworthy broker licensed and approved by the government. Reliable data encryption is just as crucial as the broker's protection of one's account against unwanted access. We believe that investment security, financial stability and a strong reputation in the sector are good indicators of a provider's security. (link to our recommendation)

Selecting the best trading app for beginners is not straightforward, since it depends heavily on what you are looking for in a trading app. We believe that a good trading app should be beginner-friendly and offer clear instructions on getting started. In addition, the app should maintain relatively low commissions that don't cut your margins excessively. Many beginning traders lose a lot of money on high costs. In addition, not every trader wants a specialized app for forex when you want to trade different assets. (link to our recommendation)

Suppose you want to practice your trading skills and develop a perfect strategy for making money trading consistently. It can be beneficial to use a demo account to do this since no personal funds are at risk. Moreover, it is easy to open an account and get started. The IG MetaTrader demo gives you $10,000 in virtual funds to trade. You can deal with forex pairs, commodities, indices and cryptocurrencies. The demo account enables you to test your trading strategies and get a feel for one of the most popular online trading platforms in a risk-free manner. Opening your brand-new demo account only takes a few minutes and requires a name, email and phone number. (Link to recommended sites)

Ask any trader what their favorite currency pair is and chances are they won't tell you it's EUR/USD every single time. Every currency pair is structurally different, and depending on various factors, other currency pairs can become or remain the best to trade for you as an individual. Look at our article on the best currency pairs to trade to find out which one suits your strategy and trading style.

There is no specific forex pair that will make you the most money. However, your trading strategy and personal preferences can significantly impact the kind of currency pairs that you could be trading. Therefore, we would like you to read through our recent article on how to trade forex. (Insert link)

  • EUR to USD (Euro to US Dollar)
  • USD to JPY (US dollar to Japanese Yen)
  • GBP to USD (British Pound to US Dollar)
  • AUD to USD (Australian Dollar to US Dollar)
  • USD to CHF (US Dollar to Swiss Franc)
  • USD to CAD (US Dollar to Canadian Dollar)
  • USD to HKD (US Dollar to Hong Kong dollar)
  • USD to CNY (US Dollar to Chinese renminbi)
  • NZD to CHF (New Zealand Dollar to Swiss Franc)
  • AUD to JPY (Australian Dollar to Japanese Yen)

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PLUS500
etoro
IG
RATING :
(5/5)
5/5
(5/5)
5/5
(5/5)
5/5
REGULATED BY:

FCA, CySEC, ASIC, FMA, FSA, FSCA

CySEC (EU), FCA (UK), ASIC (Australia)

BaFin, FCA

DEMO ACCOUNT:

✔ Free

✔ Free

✔ Free

LIVE ACCOUNT:

$100

$200

0

SPREADS FROM:

Variable from 0.5 bps

Variable from 1.0 bps in EUR/USD

Variable from 0.4 bps

SELECTION OF INSTRUMENTS:

2000+

1000+

17.000+ (FX, Stocks, CFDs, Commodities and more)

SUPPORT:

24/7

24/7

24/7

PAYOUT:

1 – 3 Days

1 – 3 Days

1 – 3 Days

77% of retail CFD accounts lose money

77% of retail CFD accounts lose money

77% of retail CFD accounts lose money

Product Reviews

Pick your best trading platform with our product reviews

RATING:

(5/5)
5/5
(5/5)
5/5
(5/5)
5/5

REGULATED BY:

FCA, CySEC, ASIC, FMA, FSA, FSCA

CySEC (EU), FCA (UK), ASIC (Australia)

SPREADS FROM:

Variable from 0.5 bps

Variable from 1.0 bps in EUR/USD

Variable from 0.4 bps

SELECTION OF INSTRUMENTS:

17.000+ (FX, Stocks, CFDs, Commodities and more)

PAYOUT:

1 – 3 Days

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