I speak here a lot of easy ways to make money and i get questions - you speak about making profits when BTC fails. How is that possible.
This is a reply for less skilled or people who just want to try something new.
I will speak of base idea and platform that i use. Each platform has its own tutorials and more or less easy GUI to use so i wont be doing tutorial here just give base idea and places.
What is Shorting of an Asset
Short selling is the sale of a security that is not owned by the seller or that the seller has borrowed. Short selling is motivated by the belief that a security's price will decline, enabling it to be bought back at a lower price to make a profit.
So you need a platform which lends you more than you have so you can bet on "asset going down" and then take profits from it. Of course it can go opposite - then you lose.
For many people its obvious how you buy something at price X, it raises to X+2 and you sell. But shorting doesnt mean buying, it means betting with borrowed assets (of someone who ie bought) to bet it goes down (just in short and easy explanation).
BitMEX
Most of Forex brokers work this way by using leverage but here are anon cryptocurrency spots that do it and that i have used. One of top places for big trades. They used to have loads of currencies but now shrinked it to just few. Still one of most popular platforms.
Just looking there easy to see sentimens if ie BTC will go up or down.
SimpleFX
These guys have not only BTC or altcoins but also almost all forex pairs or stocks. If you are a MT4 trader or wanna do anon stocks.. This is the place. DASH, LTC, Bitcoin Cash and more possible for withdrawals and deposits.
BitFinex
The biggest amount of coins to margin trading with USD/BTC or even ETH pairs.
1Broker
Has crypto and stocks but main reason people use it for - anonymous and lets you copy other traders for hands-off trading.
Huobi
STEEM was just added there few days ago, i didnt try margin trading or loans yet - if you did, let me know in comments how does it work.
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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Man I played on bitmex practice site, and im so glad i was using fake money. In a week I would have lost $20k, I learned a very humbling lesson
That is why we say, don’t trade with money you can’t afford to lose! :)
The vast majority of Day traders lose money. Its not as easy as it seems and very easy to get shaken out of positions if your stops are set too tight. I tried this years ago with stocks and lost money but with the volatility in crypto it would be even worse!
haha :) i play them... okcasino was worse ;)
How well do you do, I was getting to stressed just using fake money lol.
I think the menatality is far different with real money that's why holdling is the best strategy
How about Cryptotab. I have using that mining for a month. But I don't get 0.003 BTC.
I think many fake website to earn BTC easy
have it installed now and test, risk is low i think
i think one is applied to customers (friends) advertising , 30H/s electricity is too expensive here is not enough money
You are probably better off cloud mining if you don't have a rig. Have a play on Eobot to see if you would be interested in cloud mining and move on up to other websites from there if you do like it.
I wonder if you have mining Monroe before, I think you can try to use personal computers to dig Monroe coin and replace it with Bitcoin. If PC CPU and GPU are still not too bad(I have a i7-4710 processor and AMD 8970hd card), about 30 Day can dig 0.1 XMR and MIN 0.1XMR can extract , according to the exchange rate of today's currency, you can exchange 0.026BTC（https://www.binance.com/trade.html?symbol=XMR_BTC）. If you are interested in mining please follow me, I can tell you how to do it(https://steemit.com/cryptocurrency/@ Butiger/how-you-got-involved-in-cryptocurrency)
that would have sucked if you would have logged on to the wrong site and lost your real cash.
Is that practice site on bitmex.com? I want to see it and try it out.
I would rather use fake money than ever invest in my own, at least at those amounts.
Thanks.
Definitely would have sucked, but I knew I was in over my head so i didn't even risk it.
did you use a high leverage?
only invest what you can afford to loose and do your research before you invest in anything..
RT for visibility
I feel like it’s always a good time to buy because if the other altcoins are low you will profit more when the prices rise . I have bought sbd at a low price and sbd let’s see where it takes me
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Steem to the mix.
It is more liquidity for steem in a long way.
Hopefully steemians are not going crazy with their steem.
Keep on steemin'
@kingscrown it is a helpful and educational post. I am happy you are bringing this to steemit.
Very good post.
shorting is very dangerous to me i lost some money and it`s not easy
Now I understand what the bitfinex offers as margin. But the whole idea is basically not dealing in the coin exactly but betting on the future of it.
Super interesting! Upvoted!!
Your information is very important and useful , great job , keep it up
Your post is always different i follow your blog everytime , your post is so helpful . I always inspire of your post on my steem work . Thank you for sharing @kingscrown
Follow my blog @powerupme
Knowledge of the market is key. and the trends. HODL can be the best strategy as prices begin to run away now... Above all, keep calm! If you lose your position in one coin, you can find a new project to win back on. ! My recent post: EOS versus TRX
Excelente post amigo @kingscrown gracias por el dato.
Hey. how to join?
whether I will feel hard knocks or hard income. hehe
I think will try it.
Its better to lend as a market maker.
Great article, thanks for sharing. I've smashed the upvote button for you!
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Good and perfect information...
Thank for share it...
Success is always for you....
thanks for the information. I already know. I also will soon do nys.
Love to see Craig from Bitbay listed as one of the top traders on 1Broker right now! Bitbay is the sleeper and has a number of good people working on it.
@kingscrown Bitcoin is probably among the most dangerous assets to short sell given it's high volatility and it's tendency to multiply itself rather quickly in a bull run. Chasing the potential for limited profit, an inexperienced trader could end up losing several times the amount he stood to gain by shorting because the loss on the upside is unlimited.
For less experienced traders, it's always better to not leverage themselves using short selling because they would simply not know when to sqare off unlike experienced traders
For the experienced, it's a good way to earn quick buck though.
thats freaken awesome man thanks for sharing the information i would like to share this with my followers also thanks again.
Hay que tomar en cuenta los intereses al querer comprar. Muy interesante-
love the gif of kingsteem you have there with the sword, and I'll have to look into fuk.io ... Cool name, but IDK what it does. Sorry, Noob here.
Nice post though.
BitMEX today is one of the leading platforms for working with virtual coins, which successfully and consistently operates in the market, offering its clients low commissions, fast withdrawal of capital, customizable interface, maximum opportunities for a decent salary with leverage. And although more crypto-currencies are used by professionals with experience in Forex trading, it should not be considered a disadvantage, beginners can always get used to it, work in the system on a free demo account, pick up your strategy and get the most out of cooperation with the resource.
Nice post, success is always for you friend
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Short but don't leverage is my advice.
In forex, you will have this opportunity in every broker house. It is something unfamiliar to the crypto trader. But dont get excited if you earn there good amount. Remember real and fake money is not same. the pressure will not same too.
Shorting is a dangerous games when the game is controlled by a select few.
no wonder traders are able to buy Lambos. This was quite a deep article. Thanks @kingscrown..
Great work with your posts. rule nr 1 money management and you need a strategy to rock the markets.
excellent friend, thanks for those tips, the truth your publications are always useful. We have to think that and that is that you can not stop things like Bitcoin. It will be everywhere and the world will have to readjust itself. Bitcoin will make banks do what email did to the postal industry. We have decided to put our money and our faith in a mathematical structure free of human or political mistakes.
Making money shorting is in my experience a much better trade, with better odds and faster results. When markets go down it seems as though all those who where gradually buying all want out at the same time - this causes a 'waterfall selling' effect which will help short traders.
interesting article my friend great post a information!!
Nice Post!
I would love your feedback on my new post titled ‘Bitcoin, John McAfee, The story of the Sultan and his Flying Horse and why we should pay attention to Warren Buffett’
https://steemit.com/bitcoin/@shenobie/bitcoin-john-mcafee-the-story-of-the-sultan-and-his-flying-horse-and-why-we-should-pay-attention-to-warren-buffett
Cheers,
@Shenobie
Congratulations @kingscrown!
Your post was mentioned in the Steemit Hit Parade in the following category:
Have tried day-trading and found it was not for me. Can trade currency or stocks mid-term, but not daily. For crypto only long term. I guess everybody is comfortable with their own model.