June 22, 2022 08:58 AM
Overview
Costs & Margins
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Bitcoin (AUD) represents the exchange rate for Bitcoin to Australian dollars, telling traders how many Aussie dollars are needed to buy a single Bitcoinc.
Bitcoin is most commonly quoted in United States dollars, but Bitcoinc quoted in other currencies provides new trading opportunities due to the different influences on an exchange rate.
While Bitcoin (AUD) is affected by the usual cryptocurrency influences, changes to AUD also impact the pair. The Australian dollar is a commodity currency, meaning its value is strongly affected by the metals and minerals that make up a large percentage of Australia’s exports. Shifts in these markets can impact the price of Bitcoin (AUD).
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Margin From50 %
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Trading Hours24 hours / day *
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Min Trade Size1
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Long0
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Short0
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Min Stop Distance0 Points
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Guaranteed Order Minimum100 Points
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Spreads
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Spreads From120.0 Points
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Margins
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0 - 5750 %
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57 +100 %
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Dealing
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Spreads120.0 Points
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Guaranteed Order Min Distance100 Points
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Margins
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0 - 5750 %
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57 +100 %
Latest research
June 21, 2022 02:54 PM
December 10, 2021 10:30 AM
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Crypto explained
Can I trade other cryptocurrencies with City Index?
Yes, you can trade a range of cryptocurrencies with City Index, such as Ethereum, Ripple and Litecoin, available at a margin rate of 50%. Find out more about the cryptocurrencies we offer.
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Do I have to trade a whole Bitcoin?
No, one of the main benefits of Bitcoin CFDs is that you can trade fractional amounts and not an entire Bitcoin per transaction.
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What are cryptocurrencies?
Cryptocurrencies are digital tokens based on blockchain technology that act as a virtual currency. Many cryptocurrencies are mined into existence through the ‘Proof of Work’ system, involving the solving of complicated mathematical puzzles by high-powered computing software, with a cryptocurrency token made available to the owner as a reward.
However, a newer system known as ‘Proof of Stake’ involves contributors staking their own cryptocurrency in exchange for a chance to validate new transactions, update the blockchain, and earn a reward. Ethereum, for example, is expected to move to the Proof of Stake model in 2022.
The majority of cryptocurrencies are decentralised, which means that they are not connected to or affected by an authority such as a government or central bank.
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