Cryptocurrencies are one of the most volatile assets you ever know about so trading them is really exciting. At the same time it can make you very rich or… completely broke. BitMEX let you trade cryptocurrencies with leverage up to x100. Also you will have a chance to register on BitMEX using my BitMEX refer a friend link to save 10% on fees! However, please read my post first to understand risks of trading.
BitMEX explained
In simple words it means that if you own 1 BTC and trade it using x100 leverage you will be actually trading with… 100 BTC. It means you can win a lot even if market will move up just 1%. Actually if you close position just aftet that you will have 2 BTC instead of 1! However, you can also lose you precious BTC if market goes down just 1% and you are on x100 lev. It’s double-edged sword. Pure gambling some might say!
Of course there also less risky leverages like x25, x10 or even x2. Remember though that keeping either long or short positions cost you fees which will grow over time.
On BitMEX you can trade Bitcoin (XBT here), Ethereum or other coins against those two so there also available pairs like LTC/BTC or XRP/BTC. It means even if Bitcoin goes down you can still have profitable position if you are long and XRP grows or is steady.
BitMEX refer a friend
If you don’t own account on BitMex, what you can get using my BitMEX refer a friend link to register is 10% fee discount for next 6 months. Of course if you recommend your friend in the future, you will get another bonus – up to 20% of commissions from referred user investments.
Just in case here is my visible BitMEX refer a friend link:
https://www.bitmex.com/register/tYDMYE
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Please keep on mind that I’m NOT a financial adviser. You shouldn’t treat above post as any kind of financial advice. This is just my blog where I share my knowledge but I can be wrong while doing so! Also please remember that any financial decision you will make might affect your finances either positively or negatively. Your capital is always at risk when you invest. You should always read T&C (Terms and Conditions) to make sure you know all the rules.