Is it possible to trade real BTC on CFD exchanges like Exness and Skilling?

[zabzob]

Title says it all. I'm wondering if users of Exness and Skilling are able to deposit BTC and exchange it for fiat, like on the classic exchanges such as Coinbase, Binance etc. Or do they just trade derivatives and stuff like that?

[FatFork]

Title says it all. I'm wondering if users of Exness and Skilling are able to deposit BTC and exchange it for fiat, like on the classic exchanges such as Coinbase, Binance etc. Or do they just trade derivatives and stuff like that?

I have no personal experience with any of the mentioned platforms, but as far as I can see, platforms like Exness and Skilling are primarily focused on forex and CFD trading. While such platforms may offer some crypto-related services, such as trading crypto CFDs or derivatives, none of them, as far as I know, allow direct buying and selling of cryptocurrencies. Only crypto exchanges have such capabilities.

[zabzob]

Title says it all. I'm wondering if users of Exness and Skilling are able to deposit BTC and exchange it for fiat, like on the classic exchanges such as Coinbase, Binance etc. Or do they just trade derivatives and stuff like that?

I have no personal experience with any of the mentioned platforms, but as far as I can see, platforms like Exness and Skilling are primarily focused on forex and CFD trading. While such platforms may offer some crypto-related services, such as trading crypto CFDs or derivatives, none of them, as far as I know, allow direct buying and selling of cryptocurrencies. Only crypto exchanges have such capabilities.

Thanks, that's what I figured

[logfiles]

For Exness and Skilling, I think it's not possible. A CFD (Contract for Difference) is just a derivative of the underlying asset you would which to trade, so there's no point of direct deposits, trading and withdrawal of that underlying asset (real bitcoin in this case)

But I think hybrid CFD brokers like Etoro have an option to deposit and withdraw crypto. You can try checking them out, but I prefer crypto exchanges. They are less restrictive and don't ask for so many personal details like those platforms

[dansus021]

Title says it all. I'm wondering if users of Exness and Skilling are able to deposit BTC and exchange it for fiat, like on the classic exchanges such as Coinbase, Binance etc. Or do they just trade derivatives and stuff like that?

I do open trade in exness but I never use crypto as deposit but broker like exness and other forex broker now is accepted crypto as deposit payment. But the thing is you can only deposit and after that your bitcoin will automatically turn into a regular USD and then you can trade from there.

But if you want to trade crypto It is better to use crypto exchange rather than a broker like exness because their spread is hugeeeee, and you can still use leverage in Centralized Exchange nowadays

[zabzob]

Thanks guys for these informative responses. I think I'll stick to traditional crypto exchanges for now.

[nelson4lov]

For Exness and Skilling, I think it's not possible. A CFD (Contract for Difference) is just a derivative of the underlying asset you would which to trade, so there's no point of direct deposits, trading and withdrawal of that underlying asset (real bitcoin in this case)

But I think hybrid CFD brokers like Etoro have an option to deposit and withdraw crypto. You can try checking them out, but I prefer crypto exchanges. They are less restrictive and don't ask for so many personal details like those platforms

If I remember correctly, almost all tier 1 exchanges require KYC completion now as a prerequisite to access their trading platform. I don't trade on a lot of brokers but I've used Exness in the past and the reason why I chose crypto exchanges is not because of no-KYC policy which is nearly non-existent on almost all tier-1 exchanges but because of the fact that since it's just native to crypto, it just feels right and all products are tailored for crypto natives. Another bonus is that they list assets faster compared to non-crypto native brokers.

[logfiles]

If I remember correctly, almost all tier 1 exchanges require KYC completion now as a prerequisite to access their trading platform. I don't trade on a lot of brokers but I've used Exness in the past and the reason why I chose crypto exchanges is not because of no-KYC policy which is nearly non-existent on almost all tier-1 exchanges but because of the fact that since it's just native to crypto, it just feels right and all products are tailored for crypto natives. Another bonus is that they list assets faster compared to non-crypto native brokers.

Yes most crypto exchanges require KYC, but it's mostly basic information like your name, date of birth, ID and face. For some of the brokers I have encountered, on top of what I have already mentioned, they even want to know about your source of income, bank statements, proof of address, how much you earn per annum and what your estimated worth is.
Pretty ridiculous if you ask me