What are some strategies that traders use to take advantage of short interest in the digital currency market?

1 answers

• Ephraim BryskiAug 20, 2020 · 5 years ago
  At BYDFi, we believe that one effective strategy to capitalize on short interest in the digital currency market is to actively participate in decentralized finance (DeFi) platforms. DeFi offers various opportunities for traders to earn interest on their digital assets, regardless of the market direction. By lending out their cryptocurrencies on platforms like BYDFi, traders can earn passive income through interest payments, while also potentially benefiting from any price appreciation. This strategy allows traders to generate additional income and diversify their trading strategies beyond traditional short-term trading approaches. However, it's important to conduct thorough research and due diligence before participating in any DeFi platform, as the space is still relatively new and carries its own set of risks and challenges.
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