With the market in a downward trend for the majority of time since 2018’s beginning, most people have taken a conservative approach to trading cryptocurrencies. However, one of the biggest advantages of trading on a new-era trading terminal such as PrimeXBT is the opportunity to profit in both rising and falling markets by shorting crypto assets; a practice still uncommonly offered by most exchanges.
Only a handful of trading platforms offer the option to short sell, which reduces the amount of people who are aware of the possibility to do so, and further reduces the amount of profit that could have been made - and could be made due to the lack of its consideration.
Short selling is an ideal way to profit during the bearish phase in falling markets. What some people don’t know is that each and every strategy that can be used in buying, or long positions can be used in a short position as well, in order to profit from downward trends.
What is Short Selling Exactly?
When entering a short position everything is in reverse of a long position, as you are betting against the crypto asset going up, rather you’re banking on your belief that it will very likely go down. For example, with Prime XBT, you will borrow from the platform in order to sell a crypto asset at a high price and rebuy it again at a lower price, in doing so you repay the ‘debt’ and keep the difference in price as your profit.
Short Sell with Leverage
As mentioned, all strategies used on a long position can be used on a short position - including leverage. This means that the profit you pocket from shorting can be multiplied by the X amount of leverage taken. With Prime XBT, up to 100X leverage can be applied to any position, which means that a $100 profit would become a $10,000 profit with no more of your own funds invested than you would do without it.
PrimeXBT’s Advanced Strategies
Uniquely, as well as shorting and high leverage capabilities, PrimeXBT provides the simultaneous use of various order types, including stop-loss and limit orders to lessen traders loss potential and manage risk. These advanced capabilities are commonly utilized in traditional stock trading and have proven to be successful and untiringly popular over many decades. Now PrimeXBT is applying these tried, tested and venerated methods and strategies to the highly active and advantageously volatile cryptocurrency market.
Furthermore, the PrimeXBT platform aggregates liquidity from 12 of the leading cryptocurrency exchanges for BTC, ETH, XRP, LTC, BCH and EOS and employs the most robust security measures and procedures available to date. Cold wallets, DDOS protection, withdrawal address whitelisting, email confirmations and 2 factor authentication have already been implemented and will be available from day one.
The platform boasts an intuitive, user-friendly and customizable UI, with multi-monitor support and the most sophisticated charting technology to accommodate both novice and professional traders. Registration takes less than a minute, with no KYC requirements.
Prime XBT is due to launch this month in January 2019. To find out more check out PrimeXBT.com, or see the live demo in action now here.