Topic: Bitfinex (Read 1013 times)
Someone else to buy your order, and you can use leverage to get your money doubled or more
Does any know how Bitfinex works. I just cant seem to understand how it works.. any pointers would be greatly appreciated..Thanks
Assuming you're talking about leveraged trading, it lets you trade with more money than you actually have. If you deposit $500 and do 3:1 margin, you'll be able to trade up to $1500. The money to do this is borrowed from other people at a fixed daily rate. If the price goes against you the site will automatically sell your coins to make up for the loss if needed to make sure they don't come out at a loss. If it goes with you, you'll get the profit you would have if you were trading $1500 minus the borrowing fee. You can make a lot more or lose a lot more this way.
Does any know how Bitfinex works. I just cant seem to understand how it works.. any pointers would be greatly appreciated..Thanks
Jump to: