What is the best way to short crypto?
Maybe it is too late to ask this question, since the crypto has been dropped alot. I should have ask this question last December. What is the best way to short crypto? I can trade Bitcoin and Etherium future in my brokerage account, but BTC and ETH probably won't drop to zero and they may even return to all time high. On the other hand, there are many shit coins that looks like 100% scam. I have a Coinbase account, but I can only buy those shit coins and get ripped off. How can I short those shit coins to make some profit from the blind believers? Blind tax, TC 300
125x leverage short on Binance
Does Binance really offer 125x leverage?
If you wanna short, just be ready for short squeeze from exchnages when the OI and funding rates are skewed. The house always wins
FTX is probably what you're looking for, they have a lot more option for this type of stuff. Also ironically one of the best place to short crypto is using crypto, check out options like Mango markets on Solana. But keep in mind that markets are at least semi-efficient and you probably won't be able to short obvious shitcoins anywhere and if you can the shittiness of said shitcoins will probably be priced in. And even when things seem like obvios shitcoins like SHIB, it's crypto where "the market can stay irrational longer than you can stay solvent" is more true than ever.
Thanks for the info. I just opened an FTX account. Is FTX safe? Will it rug pull?
You cannot short shitcoins - everyone would be a millionaire if that were possible.
That's why I always say, if you can't short it, it is not an investment, it is just a scam. An investment allows you to profit on the up side and the down side.
Shitcoins were never an investment. It’s just another form of a lottery.
Theres some ETFs and companies that deal with mining. There's also some banks, like the Metropolitan Bank of NYC, that has investments in Crypto
But those are real companies with real business. Even Bitcoin miners are a good buy if their value is cheap enough. Shorting those companies is high risk.
3X Short BTC ($BEAR)