There are many different paths you can take to make profit with cryptocurrency. I tend to opt for the "investor" mentality most of the time with a few swing trades if I see something that makes sense. Of course, if you are looking to become an experienced trader and really focus on the markets you will most likely come across margin trading or trading on leverage. Today I look at the Bityard exchange which has solid leverage trading.
What Is Leverage Trading?
Leverage trading or trading on margin, is the concept of essentially borrowing money on a bet that the asset, we will say Bitcoin in this case, will go up or will go down. You are playing with house money here. If you win, you can close your position and take the profit that is left after repaying the amount you took on margin. If you lose and your margin is called, you are now on hook for the difference of what you lost.
Now, why would anyone want to do that? Well... if you are very certain about your technical analysis then you can stand to make some really massive gains off of a small amount of starter funds, but this comes at a very high risk. Leverage trading can make you big profits, but should not be something beginners just jump full force into.
Contracts on Bityard
If you are looking to get into leverage trading where you can directly trade contracts for your favorite cryptocurrencies like Bitcoin, XRP, Litecoin and more. A contract is a way to trade the underlying asset without actually owning it. The Bityard exchange allows you to do just that and settle in USDT versus having to hold the native asset. Get up to 100x leverage with Bitcoin! Also enjoy trading other derivatives like gold, silver, and oil all in one platform.
Do keep in mind this is an ADVANCED trading review and leverage trading is not recommended for beginners.
If you want to watch a full review of the Bityard exchange you can check out my video below:
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Thanks to Bityard for sponsoring this video.
Thats all for today, until next time...
'Stache That Crypto Friends!