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Here's the core idea: a broker will offer two prices for a cryptocurrency – a 'buy' (or 'ask') price and a 'sell' (or 'bid') price. The difference between these two prices is called the 'spread'. It's essentially the broker's commission for facilitating the trade. If you think the price of Bitcoin is going to go up, you'd 'buy' at the higher 'ask' price, hoping to sell later at an even higher price. If you believe it's going to fall, you'd 'sell' at the lower 'bid' price, anticipating it will drop further so you can buy it back cheaper. Your profit or loss is calculated by multiplying the difference between your entry price and the exit price by your stake per point. For example, if you stake £10 per point on Bitcoin and the price moves 50 points in your favor, you win £500. Conversely, if it moves 50 points against you, you lose £500. See how quickly things can add up? This leverage is a double-edged sword, offering the potential for big wins but also big losses.
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Okay, let’s wrap things up with some frequently asked questions about **IPU basketball**.