If you are seriously planning to try your luck in bitcoin trading then you must know when to be cautious and when to take chances. Trading in Bitcoin futures involves a lot of risks as you are in reality taking chances with borrowed money. Hence, you must transact a little carefully or burn your fingers as Bitcoin is the largest cryptocurrency and is well-known for its extreme volatility in the market. It is mainly because it is the most traded cryptocurrency in the world and either you make a lot of money in the future or you lose it all in one single blow. Hence, only those traders with strong hearts can trade in Bitcoin and stay put till their chances brighten till the expiry of the agreement. However, it has also got a lot to do with the trading environment and the right kind of information that the platform offers to its traders. In most exchanges, this may be like betting on rumors and it depends upon the traders to do their calculations and try their chance of making money.
At BTCC you are not treated like that, but they give you the best trading environment you can imagine with complete transparency on news, tips, and other information. You only need to be a little careful while trying your luck and get a fair chance to win big.
Top Trading Platform and Leverages
Like all platforms, you also get leverage to take chances on bitcoin futures yet you must know that this is the money that you have borrowed from the exchange. Therefore, each day the crypto trading platform requires you to keep a minimum margin called margin money. The margin money is only a small percentage that you deposit with the exchange and each day you need to settle the same. It means the exchange will ask you to settle your open account so that the broker can arrive at the margin requirements each day.
Since there are a lot of risks involved in futures trading you can substantially reduce your risks by trading in crypto pairs. For instance, you can pair Bitcoin/Tether which means that you are using Bitcoin which is the world’s largest cryptocurrency with USDT which is the largest stablecoin whose value is pegged to the US dollar. Conversion of USDT to fiat money is pretty easy and you can sell your USDT on a supporting platform like the BTCC and convert the same to US dollar or EURO.
In this kind of pairing when you purchase Bitcoin for USDT and bet on the instinct that the price of Bitcoin will go up relative to the price of USDT. Here, you can choose a quote currency from either of the two to get the benefits of pairing. If Bitcoin is your quote currency you can use the same to keep your money in that currency. However, if it is USDT then you sell your assets and keep the change in that quote currency.
If you want more information including a free demo and other features in crypto futures trading you can get excellent support from the staff at BTCC. If you end up with a negative amount in your account in certain circumstances, then the above platform absorbs the same.