Topic: Best exchange(s) for short selling? (Read 264 times)
This will be a tough one since from one I know crypto exchanges don't have the automatic short position in their features since they are mostly spot exchanges. What traders mostly do is they use bots in these crypto exchanges programmed to do short selling as well as automatically buying at the target bottom. You should also do research in these crypto exchanges if they do allow the use of bots in their platform so that you avoid being banned and also locking your account. Other option is if you are interested in margin positions (for exchanges that has one) which also have the short function in them although these will also make you borrow money for the trade which I think doubles the risk if you aren't that really sure of the trade.
Volume is important in choice of exchange to trade in short term, also is the choice of coin. I believe researching coin trend will be important and the use case of the coin. Most traders in past 2 years had struggled in short term trade and I think the time for trade could also be important. I will advice new traders to wait till 3-5 months after halving and see a steady bitcoin/ethereum price movement before you start, you will look smarter at those times than now.
In my taste I recommend BINANCE, BITTREX, KUCOIN exchange when it comes to what you just mentioned above the security is good as well give a try and you won't regret those exchanges.
For swing trading and quicker sells you need huge volume driving on the exchanger itself then only your order can get filled pretty fast. This also applies to more security of your coins since, this kinda volume generally exists on the popular and bigger exchanger.
Binance is always been good choice for me too but recently I have started moving towards local exchangers. By this i mean, exchanger that operates within my country, this gives me more potential trade with local currency. Plus, in India the rate of bitcoin is far premium than other countries. Hence always love it to tade over Binance and WazirX.
As we speak, though they've had problems with downtimes in the past, BitMEX is still the best in terms of reputation and liquidity. Well, probably unless you're from the United States(if I remember correctly US residents aren't allowed to use BitMEX).
Though of course, BitMEX is a huge ass exchange hence it's a huge ass target for hackers so don't unnecessarily leave funds there.
Though of course, BitMEX is a huge ass exchange hence it's a huge ass target for hackers so don't unnecessarily leave funds there.
Aside from Binance then Bitmex would be my next preferred exchange yet you can even make some margin trades.Swing or day trade would really be indeed good to this exchange and as we all know on how big the volume or high liquidity it do have.
When it comes to security then its just always been suggested that never ever leave your funds into an exchange no matter how reputable or trustable it is.
If you do then you should at least set all the security like 2fa etc. similar stuffs.
Don't get me wrong, I'm a strong Bitcoin believer for the long run. However, I'm starting to learn about swing and day trading and I would to have a option to short sell crypto for this purpose. Which is the best exchange (good volume, good reputation) to offer that option?
Until you become more familiar with derivatives, I recommend leveraged spot trading on Bitfinex. Hands down the best UI for a beginner margin trader. If you're from the US, then Kraken is probably your best option for that.
For derivatives trading, I would recommend Deribit over Bitmex to casual traders any day. If you're from the US and are worried about getting KYC'd then I suggest Kumex. I actually like Kumex a lot, but only for smaller positions like 10 BTC or less.
I suggest keeping your leverage low (2-3x max) and minding your stop losses. Don't go blowing up your account.
exchanges also offer bonuses up to $ 100 if you reach their trading volume milestones.
for a new member who is starting to trade, choose small exchanges with lots of bonuses. they will make many mistakes and bonuses will help them to make a profit so as not to make too much losses.
Binance maybe will suit you as Binance now become bigger than the other exchange. Besides swing and day trading, you can also try to use their futures which I see that their volume is good too. But besides of Binance, I think you can try with Bitmex, but that exchange is leveraged trading, same as futures in Binance, and you need to know more before you try leveraged.
All of their funds are kept in cold storage. When you make a deposit its sent to a 3BMEX.... address which is multi-sig. And the owner+essential workers there need to sign it manually everyday to process the withdraws. Hence even if some hacker did hack their site, they wouldn't be able to steal any of their funds.
Sure. But it's not that simple. Though it definitely makes it a lot harder for hackers to steal the funds, them having their funds in their cold storage doesn't make them 100% immune to hacks. And that's just one of the potential issues. There are other things to take into account like potential account locks and government subpoenas.
As we speak, though they've had problems with downtimes in the past, BitMEX is still the best in terms of reputation and liquidity. Well, probably unless you're from the United States(if I remember correctly US residents aren't allowed to use BitMEX).
Though of course, BitMEX is a huge ass exchange hence it's a huge ass target for hackers so don't unnecessarily leave funds there.
Yes, we all know bitmex is one of the largest margin trading exchanges in the crypto market, followed by bitfinex and Binance exchange. But for a new member who is starting to trade, choose small exchanges with lots of bonuses. they will make many mistakes and bonuses will help them to make a profit so as not to make too much losses. I think Snapex is the best choice. When the trading volume is 100k $, you will receive 100 USDT. Though of course, BitMEX is a huge ass exchange hence it's a huge ass target for hackers so don't unnecessarily leave funds there.
As we speak, though they've had problems with downtimes in the past, BitMEX is still the best in terms of reputation and liquidity. Well, probably unless you're from the United States(if I remember correctly US residents aren't allowed to use BitMEX).
Though of course, BitMEX is a huge ass exchange hence it's a huge ass target for hackers so don't unnecessarily leave funds there.
Though of course, BitMEX is a huge ass exchange hence it's a huge ass target for hackers so don't unnecessarily leave funds there.
All of their funds are kept in cold storage. When you make a deposit its sent to a 3BMEX.... address which is multi-sig. And the owner+essential workers there need to sign it manually everyday to process the withdraws. Hence even if some hacker did hack their site, they wouldn't be able to steal any of their funds.
Do they even have a hot wallet? Whenever I get a deposit, its always from someone's elses deposit address. And those deposit addresses are all kept on cold storage. Hence why its the largest volume exchange for years and they were never hacked, not even their hot wallet. So their security is pretty tight and I wouldn't worry about it.
As we speak, though they've had problems with downtimes in the past, BitMEX is still the best in terms of reputation and liquidity. Well, probably unless you're from the United States(if I remember correctly US residents aren't allowed to use BitMEX).
Though of course, BitMEX is a huge ass exchange hence it's a huge ass target for hackers so don't unnecessarily leave funds there.
Though of course, BitMEX is a huge ass exchange hence it's a huge ass target for hackers so don't unnecessarily leave funds there.
In my taste I recommend BINANCE, BITTREX, KUCOIN exchange when it comes to what you just mentioned above the security is good as well give a try and you won't regret those exchanges.
If you are a person who can sell a lot then you will definitely have to know about these exchanges but on your list only Binance is the most accurate because this exchange has very high liquidity. Of course, it is possible to use some exchanges like Huobi, Okex because these are two exchanges that are competing with Binance so if you have a lot of money, you can have good liquidity at these exchanges.
We have Exchangers around the crypto space, which are good and fine but give no full trust to any because something somehow might happen any day at any time. We just need to be security concise. The best pick I came up so far is Binance, bittrex, and kucoin. At your own interests do more research.
I'm glad to have that trading opening in your minds. You are not new to the market and I believe you already know the market behavior but never underestimate trading coz it actually different in the actual scenario. I know you could easily make adjustments as the market makes a challenge for you.
That is why we need a friendly user market exchange, Binance and Kucoin could really satisfy you. But I have to suggest that to control also your emotions, though you are thinking of a short-selling. And I'm afraid you can't make it all the time as the market never goes high every day and so holding will also be needed in quite sometimes.
That is why we need a friendly user market exchange, Binance and Kucoin could really satisfy you. But I have to suggest that to control also your emotions, though you are thinking of a short-selling. And I'm afraid you can't make it all the time as the market never goes high every day and so holding will also be needed in quite sometimes.
If you are just getting started to learn with swing and day trading, might as well knock on doors to exchanges that has a demo account for beginner like you, you can have choices because there were plenty of them and you just need to search it. After a while, if you know to yourself that you can handle it with your own money try to do it with Bitmex or Binance, these two has a high liquidity which swing and day trading profit would be a lot more possible.
Don't get me wrong, I'm a strong Bitcoin believer for the long run. However, I'm starting to learn about swing and day trading and I would to have a option to short sell crypto for this purpose. Which is the best exchange (good volume, good reputation) to offer that option?
If you are going to trade and looking for a platform with good features and technical guide. I suggest you to use Binance, Bitmex and even Kucoin. These exchanges offer good trading features and all have margin and future trades. Kucoin has recently release their margin trading so the first two are known to have these and many people using these two exchange. It has considerable volume, liquidity and especially all of them are trusted exchange. Though all of it is centralized. Im not sure about dex market that has good volume maybe IDEX. Don't get me wrong, I'm a strong Bitcoin believer for the long run. However, I'm starting to learn about swing and day trading and I would to have a option to short sell crypto for this purpose. Which is the best exchange (good volume, good reputation) to offer that option?
Currently, there are many exchanges that support people in long and short bitcoin and alts top. Currently we have Snapex, Bingbon, Whaleinc, Letmetrade, ... but it's best to choose exchange with the most offers. As for the exchanges above, I think you should join the trade in Bingbon. The fee is very low compared to the other exchanges and it also allows us to trade forex. Besides, exchanges also offer bonuses up to $ 100 if you reach their trading volume milestones.
Don't get me wrong, I'm a strong Bitcoin believer for the long run. However, I'm starting to learn about swing and day trading and I would to have a option to short sell crypto for this purpose. Which is the best exchange (good volume, good reputation) to offer that option?
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