Can I buy Bitcoin and Crypto with Cinkciarz?
The short answer is yes, investors in Poland can buy cryptocurrency CFDs on the Cinkciarz platform. However, CFDs are not the same as investing in real cryptocurrencies. CFDs are speculative financial instruments called 'Contracts-for-Difference' that carry a high risk of loss, and you will have to pay an extra commission on top of market prices when trading these products.
How to Buy Crypto with a Cinkciarz Alternative?
We recommend using an alternative, such as Uphold, if you want to buy real crypto assets and avoid the risks associated with CFDs. Their secure and regulated platform allows Polish investors to buy and stake over 250 cryptocurrencies that can be withdrawn and stored in a personal wallet.
You can get started in minutes with this simple guide:
- Sign Up: Create an account on Uphold and complete your verification (personal or company).
- Connect Account: Select the currency you want deposit on the Uphold Platform (EUR, PLN + 30 more).
- Deposit Funds: Connect your Polish Bank account to quickly deposit your selected fiat currency.
- Buy Crypto: The final step is to find the crypto you want to buy and execute your trade.
What are CFDs?
CFDs, or Contracts for Difference, are financial derivatives that allow traders to speculate on the price movements of an underlying asset, such as a stock, commodity, currency, or index, without actually owning the asset. Instead, traders enter into a contract with a broker to exchange the difference in price of the asset from the time the contract is opened to the time it is closed. CFDs can be used for both short-term and long-term trading and can be traded on margin, allowing traders to potentially make large gains or losses with a relatively small investment. However, CFDs are considered high-risk investments and are not suitable for all investors.
What are the risks of Crypto CFDs?
Crypto CFDs are considered high-risk investments due to several factors. Some of the risks associated with trading CFDs include:
- Leverage: CFDs can be traded on margin, which means that traders can control large positions with a relatively small investment. This can amplify gains, but it can also amplify losses, and traders can easily lose more than their initial investment.
- Short selling: CFDs allow traders to short sell, or bet on the price of an asset going down. Short selling can be risky because there is theoretically no limit to the potential loss, as the price of an asset can keep going up.
- Lack of regulation: CFDs are not regulated in some countries, which means that traders may not have the same level of protection as they would with a regulated investment.
- Overnight financing cost: Some CFD providers charge overnight financing cost on positions that are held overnight, which can add up to a significant amount over time.
It is important to understand the risks associated with CFDs and to only invest money that you can afford to lose. It's also recommended to trade with regulated CFD providers and to practice with a demo account before trading with real money.
Cinkciarz is a licensed and regulated cryptocurrency exchange platform in Poland that allows users to buy crypto CFDs. However, as with any high-risk investment, it's important to understand the risks involved before entering the market. We recommend using an alternative such as Uphold if you want to buy real crypto assets and avoid the risks associated with CFDs. With Uphold, you can buy and stake over 250 cryptocurrencies that can be withdrawn and stored in a personal wallet.