Buy Crypto with Cinkciarz

Can I Buy 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.

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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 Their secure and regulated platform allows Polish investors to buy and stake over 250 cryptocurrencies that can be withdrawn and stored in a personal wallet.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:

1. Sign Up: Create an account on Uphold and complete your verification (personal or company).
2. Connect Account: Select the currency you want deposit on the Uphold Platform (EUR, PLN + 30 more).
3. Deposit Funds: Connect your Polish Bank account to quickly deposit your selected fiat currency.‍
4. 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.

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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:

1. 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.
2. 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.
3. 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.
4. 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.

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What is Cinkciarz?

Cinkciarz is a Polish online currency exchange platform that allows users to exchange foreign currencies at competitive rates. Founded in 2010, the company is now known as Conotoxia after rebranding in 2016. The platform offers a range of financial services, including currency exchange, international money transfers, and multi-currency accounts. Conotoxia aims to provide fast, secure, and cost-effective financial solutions to individuals and businesses, enabling them to manage and exchange currencies conveniently.

Final Thoughts

In summary, while Cinkciarz allows Polish investors to trade cryptocurrency CFDs, these financial instruments are high-risk, costly, and not equivalent to investing in real cryptocurrencies. We recommend using an alternative like Uphold, a licensed and regulated platform with over 10 million users, to buy and stake over 250 real cryptos that can be withdrawn to a personal wallet. Uphold offers a more secure and affordable solution for investing in cryptocurrencies, allowing users to deposit funds from their Polish bank account and avoid the risks associated with CFDs.