Going Long on Link | Can You Leverage Trade Responsibly?

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Today we look at Chainlink now being listing on Phemex as a margin trading pair. But can you margin trade responsibly? This is part 1 on my margin trading series “Margin Trading for Dummies”. Learn more at https://BitBoyCrypto.com

Leverage trading, also known as margin trading, is a system that allows the trader to open positions much larger than his own capital. The trader needs only to invest a certain percentage of the position, which is affected by many factors and changes between instruments, brokers, and platforms.

What is longing bitcoin? When you long bitcoin you essentially open a bet on the fact that you think the price of bitcoin will increase. If the price of bitcoin does increase, you’ll profit. If it drops instead, you’ll make a loss.

Shorting Bitcoin is just betting that an asset will go down. Conversely, “going long” is betting an asset will go up. Generally, there are a number of different ways to go short including options, margin trading, futures contracts, short selling actual coins, and more.

Margin trading is a method of trading assets using funds provided by a third party. When compared to regular trading accounts, margin accounts allow traders to access greater sums of capital, allowing them to leverage their positions.

The secret to success in margin trading is to follow a slower approach. Take time to learn all the things that were discussed above. Before you register at an exchange and make a deposit, it’s critical to check their terms and conditions. Others are flexible, but there are some exchanges that have strict criteria in allowing margin trading.

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