Plus500 Ditches MtGox, Flips to BTC-e

Plus500, one of the CFD providers listing Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term for trading, has just switched from MtGox to BTC-e as its Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term for tracking Bitcoin prices.

This follows by eToro to Bitstamp, where we cited issues encountered by CFD providers in receiving timely price quotes and stable spreads, with Plus500 demonstrating such difficulties.

The Bitcoin listing now reads "Bitcoin BTC-e Daily" with its prices currently tracking the low $600's as found on BTC-e. Contracts based on MtGox had been expiring at the end of the month, whereas the new setup has them expiring daily.

A sample position entered under the old MtGox setup is still preserved based on the MtGox contract, currently ranging in the mid to upper $200's.

Interestingly, quotes shown publicly on their website (i.e. without having to be logged into an account) are still showing under the old MtGox setup.

DC Magnates has contacted Plus500 and received the following response:

Hello, Thank you for contacting us. Please note that we have changed our Bitcoin provider to provide an up to date instrument that goes according to our trading standards. -The MTGox positions can still be closed at the Open Positions tab- this instrument will expire at 28/2/2014. -The new Bitcoin insturment is called 'Bitcoin BTC-e Daily ' - kindly note that there is a daily expiry on instrument - all relevant information can be found in the details tab of the instrument. If you require any further assistance, please don't hesitate to contact us.

(Update: Plus500 is now showing both BTC-e and MtGox contract as available for new positions.)