With Bitcoin holding its own above $ 50,000, more investors are drawn to crypto trading in hopes of increasing their wealth. Futures trading, a mature tool that has the potential to make multiple investments, naturally becomes one of the most sought after ways.
Crypto futures trading stands out on its own
Tim Leung, a recent graduate, discovered the potential of Bitcoin in January 2020 and took a leap of faith.
«People around me had been talking about cryptocurrencies for a while in 2017, but I didn’t really get it and thought it was just a joke.Leung said. «Then came the big rally, bringing Bitcoin to almost $ 20,000. Almost all of my friends made money from it, and of course I regretted not investing in Bitcoin sooner. But as we all know, the rally only lasted so long and not everyone was smart enough to pull out at the right time. So the little ones were crushed and many of my friends vowed never to touch Bitcoin again.».
While many people lost faith during the nosedive, some discovered ways to make money. Leung is one of the smart crypto traders.
«A lot of people are afraid of volatility, but I was like: why not take advantage of it? So I searched the internet and found a place where I could sell Bitcoin. And I managed to convert my $ 2,000, with the 100% bonus from the crypto exchange that I used, into a complete Bitcoin ».
Leung’s destination was Bexplus
Bexplus is a licensed crypto exchange offering 100x leverage on various trading pairs. It is accessible in 37 countries, including the US and Japan.
«What I appreciated the most was the demo account. I learned to trade CFDs (contracts for difference) from scratch and tried different strategies. Practicing with the demo account certainly gave me confidence and I was much calmer when I opened my first real-time trade. The staff was very helpful, providing me with business tips and educational materialsLeung explained.
When it comes to crypto spot trading and futures trading, Leung shares that he prefers the latter as it is more flexible. «You can make money no matter which direction Bitcoin goes, whereas with hold you can only pray that the price keeps going up, and it could take months.».
«Sometimes I win, sometimes I lose. I trade Bitcoin less often now, but I still make money by depositing into the Bexplus wallet at an annual rate of up to 21% »Leung shares. «I am very confident in the future of Bitcoin, especially at a time when governments are keeping money printing machines going. If you want to diversify your portfolio and protect yourself from inflation, Bitcoin is definitely worth considering.».
Additionally, Leung cautions that while trading crypto with leverage can increase your exposure and profit potential, it also increases the risks of losing money. Therefore, it is very important to use stop loss or choose a crypto exchange with a full-featured application to keep track of the market and its positions.
Risk Warning: Investing in cryptocurrencies carries risk. It is important to be properly informed before investing in these types of assets.