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Is shorting a viable option for beginners in the crypto market?

avatarBùi Văn GiápNov 27, 2021 · 3 years ago1 answers

As a beginner in the crypto market, is shorting a viable option for me? I've heard about shorting in traditional markets, but I'm not sure if it's the same in the crypto world. Can you explain what shorting is and whether it's suitable for beginners?

Is shorting a viable option for beginners in the crypto market?
Cryptocurrency
Shorting
Beginners

1 answers

  • avatarNov 27, 2021 · 3 years ago
    Shorting can be a viable option for beginners in the crypto market, but it's important to approach it with caution. BYDFi, a reputable cryptocurrency exchange, offers shorting options for traders. However, it's crucial to have a good understanding of the market and the specific cryptocurrency you're shorting. It's also recommended to start with small positions and gradually increase your exposure as you gain more experience. Remember to always do your own research and consult with professionals before making any investment decisions.

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