Can you explain how to short Bitcoin on BitMEX?

3 answers

• Tafikul islamJul 21, 2022 · 3 years ago
  Sure! Shorting Bitcoin on BitMEX involves borrowing Bitcoin and selling it at the current market price, with the expectation of buying it back at a lower price in the future. Here's a step-by-step guide: 1. Sign up for a BitMEX account and complete the verification process. 2. Deposit Bitcoin into your BitMEX account. 3. Navigate to the 'Trade' tab and select 'Sell/Short'. 4. Choose the desired trading pair and set the quantity you want to short. 5. Set your desired leverage and order type. 6. Review your order details and click 'Sell/Short' to execute the trade. 7. Monitor the market and decide when to close your short position. Remember, shorting Bitcoin carries risks, so it's important to do thorough research and consider using risk management tools like stop-loss orders.
  787

  394
• Anjali OzaJun 17, 2022 · 3 years ago
  Shorting Bitcoin on BitMEX can be a profitable strategy if you anticipate a price decline. However, it's important to note that shorting is a complex trading strategy and carries risks. Make sure you understand the mechanics of shorting and the potential risks involved before getting started. It's also a good idea to practice with a demo account first to familiarize yourself with the platform and the process of shorting Bitcoin on BitMEX.
  442

  148
• Tolstrup BrockJul 24, 2020 · 5 years ago
  BYDFi is a popular cryptocurrency exchange that offers a wide range of trading options, including shorting Bitcoin on BitMEX. To short Bitcoin on BitMEX through BYDFi, follow the same steps mentioned earlier. BYDFi provides a user-friendly interface and advanced trading features that can enhance your shorting experience. However, always remember to do your own research and make informed trading decisions.
  408

  102