Making Money on Crypto Prices Going Down

thexcity said:
Did I understand this right?

On Poloniex you can trade with "borrowed" money or BTC? If you have 1 BTC, you can trade like you have 2,5 BTC? Or I'm wrong... Can you explain

this please?
Click to expand...

Margin trading is available, meaning you take a loan, and trade with borrowed money.
However, i recommend normal exchange, so while you are learning, you risk less.
 
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Fragmaster said:
poloniex

Some tips for noobs :
Posting an order is FREE. You can cancel, and post again without penalty.
0.15% fee is applied if transaction happened, and you were maker - meaning you posted an offer, and your peer bought or sold your offer.
0.25% fee is if you are taker, meaning roles are reversed, you took available offer from market, reducing its liquidity de facto.
So both parties pay fee, one pays 0.15% other 0.25%, make sure you pay less, it matters in the long run.
For example if you are trading alt coin with 50k satoshi price range, maker fee will be 70 satoshi (per unit). So you need at least 140 satoshi markup just to pay for fees (you'll have 2 transactions), all above is your profit.

Trading is negative sum game, don't overestimate yourself. Always consider that big players are manipulating the market and have sure profits, leaving average joes in ever bigger trouble. This is not easy money.
Click to expand...

Good tips!

thexcity said:
Did I understand this right?

On Poloniex you can trade with "borrowed" money or BTC? If you have 1 BTC, you can trade like you have 2,5 BTC? Or I'm wrong... Can you explain this please?
Click to expand...

Exactly. You pay a 2% loan and if your trade goes sideways they close it out (Forced Liquidation).
 
thexcity said:
Did I understand this right?

On Poloniex you can trade with "borrowed" money or BTC? If you have 1 BTC, you can trade like you have 2,5 BTC? Or I'm wrong... Can you explain this please?
Click to expand...

It's called margin trading and it usually ends up costing your home, car and marriage.
 
bartosimpsonio said:
It's called margin trading and it usually ends up costing your home, car and marriage.
Click to expand...

In the stock market that may be true but the crypto market has a lot less volume, so the swings are much less.
 
At Poloniex you double your risk.Once you can loose money on trades and second you can looser everything to hackers
 
vilcakurt said:
In the stock market that may be true but the crypto market has a lot less volume, so the swings are much less.
Click to expand...

If the traded volume informed on coinmarketcap is by any means accurate, then there's enough money traded to break personal finances.

But I'm not a crypto expert. TBH I find those numbers surreal, seems like virtual money to me unless proven otherwise.
 
bartosimpsonio said:
If the traded volume informed on coinmarketcap is by any means accurate, then there's enough money traded to break personal finances.

But I'm not a crypto expert. TBH I find those numbers surreal, seems like virtual money to me unless proven otherwise.
Click to expand...

Trading on the crypto market is like playing poker. Don't play with more then you can afford to lose.

About 90%+ of money is virtual. You don't bring a suitcase of money with you to buy a house.
 
vilcakurt said:
About 90%+ of money is virtual. You don't bring a suitcase of money with you to buy a house.
Click to expand...

Not that kind of virtual money. I mean virtual as nonexistent, fake. No way billions of U$ are traded on these cheap ass exchanges that go bankrupt every other month.
 
So. You can go short and then sell and immediately take a long position and sell. ¿Earn forever? WTF?
 
Always thought of getting into trading... But never really knew much about it. Still don't.
I bet it feels hella good when you know you invested assets right. And then it pays off. :)
 
So you made around $3? Margin trading is only for the experienced ones and for those who are playing with large amounts that are prepared to lose it all worst case scenario comes. Hope for the best, expect the worst.
 
Margin trading will make you lose your money in most cases. Just do the typical crypto investment
 
TBH I find those numbers surreal, seems like virtual money to me unless proven otherwise
Click to expand...

It is virtual non existing money.
A good example is Quark.It had according to coinmarketcap a week ago a trading volume of arround $4 million per day.However it just needed 500.000 coins
which was arround $50.000 at that price to dump that price for 50% :) .Trading coins is not trading fiat money but they count the amount of traded coins 1:1 on fiat which is absurd since as quark showed once a small amount of quark is really getting dumped the market cap tanks down as the price tanks down
 
Any other good exchanges with lending and leveraging opportunities besides Poloniex?
 
Any recommendation for Legit , platform to trade crypto currency ?
 
Sounds really fun tho,I always like cryptocurrency,always wanted to try mine bitcoins but oh well it ended up just as a thought.More info would be great.
 
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