Everyone who has a little fortune on crypto either actual or fictional gets really excited when the price of Bitcoins ( BTC ) goes up and they go beserk that the price starts going down.
So far there are 4 types of people which I’ve met and I could categorize them like this when BTC starts fluctuating like a yoyo on steroids.
- Hold on their crypto and yet imaginatively think how much they have either made or lost if they sold it just now.
- Stuck in ALT coins and wished they had sold it when it was at its All Time High (ATH)
- The FOMO dude … gets excited or frustrated but do not hold a single crypto wishing they had imaginatively bought some when it was 6 cents.
- A trader … enuf said !
Not many dare venture into crypto trade with so much news of exchanges being the targets of hackers and exchanges just do an exit scam. Some also tried it out and had bad experience with it, therefore, they decided not to try it again.
There is no right nor is there wrong in doing any of the above as its your money and your assets. If you had held BTC at a certain point in time, you would almost be in profits just by holding your coins as the value had increased so much that it would be stupid to buy pizza with 10,000 BTC.
Just like in some traditional markets, today’s variety of crypto trading has widened to match the options of the traditional markets. Instead of only the typical exchange which only offers Buy High and Sell Low trade boards. We are all now introduced to other instruments like FUTURES Market for crypto.
What are Crypto Futures Trading ?
In a really simple term, you are able to make money whichever way the markets go. Now, also remember that you are also able to loose money whichever way the market goes.
One of the platforms which I kinda like to mess around with is Kraken. I think it has a really slick interface and most importantly, the platform is fast and so far reliable for me.
In most of these Crypto Futures trade platform, you would normally see that they do not use the symbol of BTC as you are not really trading Bitcoins / USD , however, you are trading Bitcoin Contracts. Each contract is normally worth $1 . So if you are buying $100 , you are actually buying 100 contracts.
There are 2 main type of trades. You can either buy LONG or SHORT. Buying LONG means you buy it at a low price now and possibly sell it at the Higher price. Going SHORT would meant your want to sell at a high price now and then buy it at a lower price. So both ways you are able to earn a lil bit of $$$ …. if you place your order in the right direction.
Those are the 2 most basics you need to know. There are so many other things you can do to minimize your losses, to increase your profits with minimal capital.
So if you are keen or even interested in starting to trade crypto futures market ( its not meant for the weak heart ) I do suggest you just give it a try with perhaps at least $50 or $100 ?
Only trade what you can afford to lose should always be your no.1 rule. As things move extremely fast in the crypto world.
I do suggest you look up tutorials which is abundance on youtube from people who has been trading crypto futures and you will be able to learn a lot. Again, it’s your money, therefore, I’m sure you would always like to make the best decision to your best ability.
Here is the link if you want to checkout the platform
Cheers and have a brilliant week ! Stay safe !