Hey guys
Got some moneyproblems and managed to get 1 ETH on Coinbase via Creditcard.
I got 30 days to pay some bills so do you got some good investing possibilities? Should I buy a coin or invest into an ongoing ICO?
Any advices appreciated
Thanks
RAGE
This is called “shorting” and it’s a very risky method of investment. Be sure to play it safe, or else you could end up in a bad position.Got some moneyproblems and managed to get 1 ETH on Coinbase via Creditcard.
I got 30 days to pay some bills so do you got some good investing possibilities? Should I buy a coin or invest into an ongoing ICO?
Any advices appreciated
Thanks
RAGE
Anyway, you are probably going to want to buy into a more established altcoin and wait for the Altcoin market to bounce back (that will probably happen withing 30 days).
Also, I thing @lokinator put it well in the post above mine.
no, that's not called shorting. but he's indirectly buying on margin. bad idea when you have bills to pay that add up to the amount you are investing short term
shorting is borrowing a security (it is set aside by your broker) and selling it at the same time. that is where you open the short position. then you "cover" or "close" your short when the price goes down to a certain level by simultaneously buying with the funds you received up front and then selling it on the market. so you open short at 350 bucks then cover at 300 you made 50 bucks per share or coin minus any interest accrued and fees. i used to short crypto all the time on leveraged margin but got sick of certain alts ignoring technical indicators. not all the time, but enough to where it became very stressful. i'll just stick to synthetic shorting via stock options and once options open for cryptos (without needing millions in capital) then i will do that too. much lower risk
