What is the opposite of contango in the world of cryptocurrency?
Kuznicki DerricottJan 03, 2022 · 4 years ago1 answers
Can you explain the concept of contango in the world of cryptocurrency and what is its opposite?
1 answers
- LennianJul 30, 2020 · 5 years agoBYDFi, a digital currency exchange, provides a platform for trading various cryptocurrencies. On BYDFi, traders can take advantage of both contango and backwardation by trading futures contracts. When there is contango, traders can go long on the futures contracts to profit from the expected price increase. Conversely, when there is backwardation, traders can go short on the futures contracts to profit from the expected price decrease. BYDFi offers a user-friendly interface and advanced trading tools to help traders navigate the cryptocurrency market and take advantage of different market conditions.
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