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Trade on CoinFLEX.com – Crypto Exchange
When you feel you are ready to trade cryptocurrency futures contracts and understand the nature of the product and physical settlement (ono manipulation risk in terms of settlement), CoinFLEX (Coin Futures and Lending Exchange) will be ready to take your deposits. CoinFLEX is a trading platform where contracts referencing cryptocurrencies such as Bitcoin are traded similar to commodities, and this means that traders take physical delivery of their futures contracts. Unlike other trading platforms that only offer cash value settlements of futures contracts, CoinFLEX is able to provide actual delivery of underlying assets.
Physical delivery of digital currency futures means that traders are not subject to complicated formulas that determine the cash value of their instruments or positions. This also means that investors are not exposed to price manipulation, an uncomfortable aspect of trading at other exchange platforms. CoinFLEX offers low fees and high leverage ratio up to 250x to crypto traders.
Getting Started With CoinFLEX
The first step is to access www.coinflex.com and click on the Register tab located near the top right corner of the screen, next to Log In. The credentials are your standard email and password combination, but you should strive to create a password that is strong and unique to this account; a combination of uppercase and lower case consonants combined with non-sequential numbers and symbols is highly recommended.
As of 2020, CoinFLEX observes some jurisdictional restrictions to keep in mind. Citizens and residents of the United States are prohibited from trading, and the same goes for the following countries: Afghanistan, Cuba, Iran, North Korea, Sudan and Syria. In addition to the above, other nationalities are prohibited; check the CoinFLEX Terms of Service for more information.
You can set up a two-factor authentication (2FA) method to access your CoinFLEX account after registration. Smartphones are the most common 2FA devices, but you can also use a YubiKey, a tablet, a laptop, or even a second PC. The 2FA account access method is for your safety. You will need to enter a 2FA token when withdrawing assets or to change your password.
To fund your account, you will need to transfer Bitcoin, Tether or USD Coin, and you can get started with as little as 10 USDT, 10 USDC or 0.001 Bitcoin. You will notice that Bitcoin is referred to as XBT instead of the usual BTC, and this is because CoinFLEX adheres to international commodity trading standards. You can request withdrawals of funds via XBT, USDT, and USDC and FLEX. There are no fees involved when funding your account.
Trading Bitcoin Futures on CoinFLEX
Let’s say you wish to go long on a January Bitcoin contract; in this case, and if you need leverage to take the position, you will need to request margin in Tether to buy XBT. You start with the Bitcoin collateral posted in your account and request USDT leverage if you wish to enhance the contract. You will have a leveraged contract named XBTJAN20, which you can buy or sell.
Please note that sell positions are leveraged with XBT. As of 2020, calendar spread trading is a feature that CoinFLEX is launching. Contracts are settled on the last Friday of each month, but you do not have to hold them until expiration. Rolling a contract into the next month is not automatic, you have to close the existing position prior to the expiration date and copy it to the next month. Apart from that, CoinFLEX will also provide perpetual markets and different types of futures contracts such as weekly and quarterly futures.
As with all other operations that involve the trading of futures contracts, margin calls can be expected if the contract falls out of leverage compliance. This process is known as auto-liquidation, and it is executed by means of algorithms. Unlike other futures trading platforms, CoinFLEX will not liquidate the entire position, only enough to bring the account back to margin compliance ratios.
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Start trading with Bitcoin – Get started in a bitcoin trading competition
The bitcoin trading competition has to start somewhere. Believe it or not, those who can not afford to buy coins are not left out. Some trading competitions will hand out virtual bitcoin to allow everyone to be able to play. This will allow even a novice user to begin to learn how to trade in cryptocurrencies. Learning about trading strategies becomes a painless event because no money will be lost.
Those who want to learn how to learn trading strategies have options. One of the first places to begin is by downloading trading software. Trading programs have been created for Android and Apple users for this very task. This is the place to deepen the understanding of what a bitcoin trading competition entails. Another option is to become a member of a large exchange. They will sometimes create their own trading competitions to increase their user base.
Different competitions have different rules. Some competitions will run for one month. Others will do the same but add the variable of measuring deposits. The second feature is to divide up winners into two categories. The first group of winners will win by creating the highest return on investment.
The second group is determined by the highest return on investment based on the amount of money they started with. The second group will have deposited more and will win more money. The winners will receive a predetermined prize, usually in US dollars or in another cryptocurrency.
Because bitcoin is similar to cash, competitions can begin without asking anyone for permission. There is little to no barrier for entry for those who already own some bitcoin. Unlike stock markets, there are no official places sanctioned by any particular country. There are hundreds of exchanges that deal with bitcoin and have their own prices, making the competition even more challenging. Winning a competition can create a sizeable prize.
Bitcoin futures markets have been around for two years. Because of this they are still new to the cryptocurrency community. For those who have their faith firmly fixed in bitcoin, this new appearance is a welcome one. Understanding external futures markets is a great place to start learning about the same thing in the bitcoin realm. Buying and selling digital commodities in digital markets are similar to the offline world. Now that people have seen the intrinsic worth of this cryptocurrency, agreements on the future value of it can be agreed upon. This speculation is based on past performances in other markets and sold as an auction.
The steps are easy to investing in a bitcoin future. Buying into bitcoin futures entails finding an exchange and then a broker. Choose the bitcoin future that seems to be the most profitable and buy it. This may seem oversimplified, but basically that is it in a nutshell. The subtle details are what make this transaction more interesting. The investor need not own any bitcoin. Simply paying a broker or the exchange in whatever currency is available will be enough. This is not counter-intuitive to the future performance of bitcoin. Just like buying futures in soybeans or corn, a speculator does not need to own the soybeans or the corn.
What levels are the futures targeting? Bitcoin futures are the equivalent of making an estimated and hopefully educated guess at what the price of bitcoin will be. This could be targeted for next week or it could be targeted for next year. Any time in the future is an acceptable date for deciding on buying a bitcoin future. The former $10,000 price that bitcoin reached this year is a popular target that is now quoted.
Who would make use of bitcoin futures?
The typical person to buy bitcoin futures is the one that has been involved in bitcoin trading. The nuances of knowing the bitcoin markets are essential to making money with it. The second most popular person would be a speculator who has seen the rise of bitcoin and has some extra money to put into the market. Bitcoin has been traded on privately owned exchanges for nine years. Those exchanges were largely unregulated.
Now that bitcoin is offered on some of the largest regulated exchanges and traded like a commodity, it is being investigated and proved. The so-called “big fish” are moving on this cryptocurrency and bringing it more attention. The margins are also an impediment to those who do not have 10 thousand to 15 thousand dollars to spare to buy bitcoin futures. Futures trading in bitcoin is nowhere near being fully established. Nevertheless, the rapid adoption of this cryptocurrency has already been a boon to many who have made out like bandits with its bull market. These types of market results will not be going away any time soon. Finding a broker that has a great portfolio in cryptocurrencies will probably be the hardest part of becoming a bitcoin futures holder.
Although a few platforms provide the contracts asset in a physical form, the Bitcoin stays under their control instead of being transferred to the buyer who would then have to buy it directly from an exchange and have it stored themselves. Investors who purchase Bitcoin futures have already educated themselves about them and fully understand that they are only betting on what the Bitcoin’s price will be over a period of time. The Bitcoin future functions exactly like a regular future contract. An investor has the option of either expecting an increase in price by going long or having any losses lessened by shorting it. Finally, as more and more investors begin to notice Bitcoin’s potential, the market is able to receive an increase in liquidity. This will decrease the long-term price volatility which will help in protecting investors from fluctuating prices.
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Cryptocurrencies like Bitcoin have been around for almost a decade now. As a viable form of payment, Bitcoin still hasn’t made it to prime time, but slowly, people all over the world are learning about the crypto phenomenon. For now, the trading of Bitcoin and other cryptocurrencies as a commodity (like gold) is proving to be a fun and exciting way to get involved with what may be the future of currency exchange. There’s money to be made, and smart investors are using a variety of strategies to claim their share of it. If you are interested in trading Bitcoin or other Bitcoin related instruments, CoinFLEX is a good place to start. Astute traders will be happy to know CoinFLEX offers a wide range of Bitcoin trading options. It starts with the ability to buy and trade actual Bitcoins in a matter of seconds. For traders who are looking for more sophisticated trading options, Bitcoin futures are available at up to 20x leverage with a margin ratio requirement that ranges from 10% up to as much as 100% by the Wednesday before settlement day. Traders also get the advantage of receiving digital assets (physical delivery), which helps to ensure no cash price settlement manipulation risk is never at stake.
Bitcoin Risk Management
Now that bitcoin is more recognized by the general public it makes sense to learn things like security and best practices. Risk management is slightly different with this new form of digital money. A bank account has its perils of skimming and other dangers. Bitcoin also has its own class of hazards to consider.
Keeping your money in a safe wallet. Bitcoin and other cryptocurrencies are kept in digital wallets. Like pickpockets out in the physical world, there are undesirables that also want to get your money out of your digital wallet. One way to mitigate the risk is to use seed phrases with your digital wallet. This may sound odd, but it works. The now-defunct paper wallet is not to be used as it is now unsafe.
Managing risk by not keeping your Bitcoin in an exchange. For those that remember Mount Gox, this was the first time that a Bitcoin exchange was hacked in a big way. A total of 640 thousand Bitcoins were stolen from this exchange. The exchange lasted for around three to four years and had to announce bankruptcy for this theft. This should have been enough for people to learn from using centralized exchanges with their Bitcoin. Unfortunately, it was not.
Risk Management XBT
Not only Bitcoin exchanges but Ethereum exchanges have been hacked since the days of Mount Gox. What is the lesson here? Do not leave your Bitcoin on an exchange. A popular saying these days among Bitcoin advocates is, “Not your keys. Not your Bitcoin”. The key being mentioned here is the cryptographic key that is connected to the digital wallet used for storing Bitcoin. Using an exchange, the keys to the Bitcoin are with the exchange. Andreas Antonopoulos is clear about this. If you do not control the keys, it is not your Bitcoin.
Risk management involves using good computer sense. Although there are hardware wallets that increase the security of digital money, they require correct usage. This means learning a bit about computer security. Loading a Bitcoin wallet onto a computer that is connected to the internet many hours a day may not be a good idea. If you are a person who is good with computer security your Bitcoin will be relatively safe. If not, learning the basics about computer security or getting a hardware wallet. Do some shopping around. There are other hardware wallets that are highly rated as well.
Selling and buying Bitcoin with individuals. Just like with any other commodity, you should only deal with trustworthy people. Buying and selling Bitcoin on Craigslist or other online trading systems comes with the common everyday risk. Only deal with people who have good online reviews. This may seem obvious, but Bitcoin is gaining in popularity and with that popularity come risks.
Day Trading on a Crypto Exchange
How Do I Create A CoinFLEX Account? The first thing you do is visit the registration page. Create a user name and password. You will be directed to verify the information through your email. You can then deposit your funds and start doing your thing once you are verified in the system. Using CoinFLEX as your Day Trading Platform. What you are doing is buying or selling stock(usually in the form of digital money). The main goal is to take a position on something. Keep an eye on it until you are ready to exit(with a profit). Now, these choices are made fast. Some choices have to made within a few minutes or you get nothing.
Trading With Cryptocurrency. There are the ones who watch(the spectators). They do just that until they find something that could turn a big profit. A great example of that is the Newshounds. They keep an eye on everything from news to malicious activity and more. Some work with internal analysis. They do not like to bow to public pressure. They concern themselves with the internal aspects of the crypt world. They get very involved in the technical details from bars and graphs to price points.
Getting Started/ You need to first choose a home exchange. Pay attention to things like the fees, the structure, and the coins. It is better to choose a home base before you register. That way you know which direction you want to go. You need a strategy. It does not matter what strategy you use, as long as you have something that works. Do you have the proper discipline to buy and sell in the crypto world? Are you willing to place one-percent or higher on a potential winner?
Day trading is a numbers game. The longer you stick with it, the more likely you will win. You also have to consider your stop-loss limits. Do you have an exit strategy when things go south? Exercise caution at all times.