Ethereum Classic for margin trading?

Febo

legendary

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Quote from: ZEDRUN on February 29, 2020, 02:51:09 AM

So now I’m exploring margin trading for altcoins. What do you think of ETC margin trading? Where do you trade? Maybe also recommend some platforms and strategies?

Dont margin trade any crypto. Now this drop was easily predicted, since recession was inevitable, but in general Bitcoin market is highly manipulated by whales. Price will drop or increase with zero reasons and you will stay without anything.

el kaka22

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Honestly, ethereum classic is just not getting the attention some other higher coins are getting so it is easier for it to have a big crash or a big up that would destroy all your investments. Do not get me wrong even the most volume heavy bitcoin can move up and down 10%+ in a single day so it is risky to do margin trading in any currency ever, however at least it is still bitcoin and there are still a bigger community there that tries to keep it higher even when they fail, so when you pick ETC for margin, you are basically telling the world you want to gamble.

Now, you can make a ton of money, and I mean TON OF money if you are right, it is like rolling a dice and hitting the right number, but you are also risking a quicker bust as well when you do it.

seleme

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Quote from: leea-1334 on March 04, 2020, 01:55:29 AM

Why on earth use ETC for this? Just save it my friend and hold on till the price goes up (it will for sure when others do). ETC is a really old giant and sleeping as they say,,, the time will come because a lot of strong silent supporters. Stick to bitcoin or at least ETH to margin trade. Maybe even stablecoins if there is such a thing (I think there is!).

If you check the price chart of ETC you will get an idea of why trading the ETC will be more profitable compared to the flat line charts. The volatility is the power for day traders and patient traders prefer to trade the traditional financial markets. Forex is more suitable for the low volatile margin day trades and single ETC margin trade win can be bigger than hundreds of small trades in other financial markets.

leea-1334

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Why on earth use ETC for this? Just save it my friend and hold on till the price goes up (it will for sure when others do). ETC is a really old giant and sleeping as they say,,, the time will come because a lot of strong silent supporters. Stick to bitcoin or at least ETH to margin trade. Maybe even stablecoins if there is such a thing (I think there is!).

styca

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Quote from: ZEDRUN on February 29, 2020, 02:51:09 AM

So now I’m exploring margin trading for altcoins. What do you think of ETC margin trading? Where do you trade? Maybe also recommend some platforms and strategies?

I would avoid margin trading unless you're a real expert. It's high stakes, and you can lose a lot of money very quickly. If you really want to do it, then I'd recommend building up a lot of experience in normal trading first.
One big rule of trading is pick a site and a coin that has high volumes. If you try to trade somewhere that has a big spread between the top buy order and the bottom sell order, then you are putting yourself at a disadvantage from the start.

MascharonoM

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BaseFex has ETC perpetual contracts, and the volume is fine. But yeah, like everyone else mentioned margin trading is pretty risky. Are you sure about stepping into this game?

TwoSides

newbie

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There are no fixed strategies for any specific cryptos or any trading pairs that can be shared for universal profitability. And if any signal apps, signal groups, or 'trading gurus' claim there are such things, he is lying just to get your $$ out of your pocket, or even worse, betting against you.
So if you are genuinely interested in margin trading, you should learn about the basics of margin trading, and before you deposit your first satoshi, you might want to practice margin trading for free first on demo trading accounts that some exchanges offer. For that, Bitmex and Basefex are two exchanges that offer free demo trading and Basefex has ETC USDT pair for you to practice the exact thing.

ansi

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If you don't know what Margin Trading is, simply don't do it & stick with the regular trading, sell only what you have in your pocket.
Margin Trading means you're Buying / Selling something you don't own, meaning the broker (exchange) will take huge part of your funds in front (as an escrow for the trade) depending on the leverage you're using, the more your leverage the more the Margin taking by the broker.

YES, it's profitable if things goes so good in your favor BUT it's also so bad the same way as good it is.

puremage111

hero member

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Go for binance maybe?
I mean binance has the most liquidity if we were to compare to other platform i guess

Well for strategy wise, it really depends which way you think the market is going
As margin trading involves margin call and liquidation
Always control your position size and never use the full leverage
Even 2x leverage will liquidate you when coin price drop by 50%
3x - 33% and goes on

Use Dollar cost average (If you think coin is going up)
Even Dollar cost average (Up) can be use instead of dollar cost average down

OasisDre

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Quote from: ZEDRUN on February 29, 2020, 02:51:09 AM

So now I’m exploring margin trading for altcoins. What do you think of ETC margin trading? Where do you trade? Maybe also recommend some platforms and strategies?

I've never tried margin trading because I heard it's more risky than normal trading, Im not even good at normal trading yet so it's more risky for someone like me, I use kucoin for trading and the experience is not bad at all

jossiel

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@OP, I think you are not yet ready to do margin trading. You should think of this many times before committing with something you are not sure of. Many got burned in margin trading because of being not aware of how it works.

You can try if you want to but expect the result might not be in favor to you.

JCviggen

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I can recommend you not to use margin trading at all. most likely you will be left without your deposit in 2-3 months. this can not be avoided if you are trying to trade with leverage. Now there are assets such as ETHBULL / ETHBEAR, etc. best to use them. using them you will not see liquidation

PuertoLibre

legendary

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Bitbay is my first priority when the margin trading is needed but the Bitbay doesn't support this altcoin. The mentioned exchanges support the ETC margin trading but I strongly recommend using Binance or Polonixex for the better liquidity:
BitMEX
PrimeXBT
Bex500
BaseFEX
Kraken

jerrison

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Quote from: ZEDRUN on February 29, 2020, 02:51:09 AM

So now I’m exploring margin trading for altcoins. What do you think of ETC margin trading? Where do you trade? Maybe also recommend some platforms and strategies?

trading involves loads of skills and techniques before engaging in. I consider trading to be a skill set for one to profit of and also i consider the exchanger to be resourceful in terms of liquidity. so, if i want to trade i look at exchanders that have high liquidity and in this case Binance is taking the lead so i always use Binance

mahilchii

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Binance is well known for traditional spot crypto currency exchange so I would suggest to go with binance for margin trading for ETC, also it is very user friendly where you cannot see any issue with the liquidity when it comes to trading. The ETC is particularly very actively traded so I will go with binance.

cassavachips

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It looks like I would suggest a Binance exchange, but you really need to know the way and the risks. Because margin trading is very risky if you experience a loss, but the profits are also big. DWYOR

JahriMeayer

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binance is my recommendation for trading margin etc because binance is a large exchange and specifically for the cryptocurrency market, but some of my community friends tell me of bybit market are also good for margin trading but in bybit there are no etc, there are only btc, eth, xrp, ltc that I know

tokeweed

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^ Polo has decent volume if you're just some regular guy who'd like to gambol a little bit of BTC's. It could make you more than a regular trade if you get lucky. But then again, like any form of gambol, it could lose you some too. Lol.

ZEDRUN

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So now I’m exploring margin trading for altcoins. What do you think of ETC margin trading? Where do you trade? Maybe also recommend some platforms and strategies?

Topic: Ethereum Classic for margin trading? (Read 186 times)