Best Place to learn about crypto currency

Best Place to learn about crypto currency

Binance is one of the largest cryptocurrency exchanges that allows its users to trade 100s of cryptocurrencies daily. Binance began as a spot trading exchange, where traders could only profit when the value of a cryptocurrency increased. However, Binance has now since launched ‘Binance Futures’, a futures trading platform that allows traders to use leverage and to open both short and long positions.

This guide will walk you through exactly what you need to know to get started on the Binance Futures platform.

In this guide, we’re going to walk you through the following:

Features of the Binance Futures Platform
Opening a Binance Futures Account
Funding a Binance Futures Account
Binance Futures Interface
Placing Your First Trade
Binance Futures Signals
Before we look at how we open a Binance Futures account, let’s talk about the features we expect to find on the futures platform.

Features of the Binance Futures Platform
Binance Futures is an attractive trading platform because it allows traders to do two things: latest bitcoin casinos

Enter into short positions
Trade with leverage
These are two very important features for traders because it gives them different ways to profit when trading cryptocurrency. The price of Bitcoin doesn’t always move upwards, and will regularly experience severe downward price action. With Binance Futures, traders can profit when Bitcoin moves up or down. Being able to trade with leverage is also very important, because it lets traders maximize their returns by being able to trade more than 100x the funds in their accounts.

Long & Short
The process of longing can very much be summarized as follows: buying a cryptocurrency at a specific price, the price of a cryptocurrency increases, then selling the cryptocurrency at its new increased price and making a return. For example, say the price of Bitcoin was currently trading at $10,000 and you decide to buy 1 BTC; this makes your purchase price $10,000. Now, if the price of Bitcoin were to increase to $11,000 and you sell, this would result in a 10% return, yielding a $1,000 profit minus any trading fees. This process is known as going long on a cryptocurrency and is the primary method in which many new traders tend to invest.

This is in contrast to the process of going short on cryptocurrency which can be summarized as follows: borrowing a cryptocurrency from a willing lender that is then immediately sold at market price, the price of the cryptocurrency then declines, the cryptocurrency is then repurchased at a lower cost then returned to the borrower. To illustrate, Bob borrows 1 BTC from Amy which he then immediately sells at market price of $10,000. The price of 1 BTC then falls to a price of $8,000 at which point Bob buys back the 1 BTC then returns it back to Amy. The net result of this is a $2,000 profit for Bob as well Amy having received her 1 BTC.