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4336655 No.4336655 [Reply] [Original]

I've made about 400k in crypto this year, and I can't seem to get past this point. I'm constantly fluctuating between 330ish-400k because I'm pretty diversified, which has protected me but also prevents me from leveraging major moon missions with my substantial portfolio value.

How do I get into margin trading? I want to learn about it and start trying it. I can just take out 1k or 2k at a time and trade at 20x leverage right? And if I lose it, who cares I'll try again with more information.

I'm based in the US. Apparently bitfinex allowed margin trading but now they won't allow US customers to use their services. Where should I go to margin trade at crazy leverages?

>> No.4336665

>>4336655
whaleclub. they fuck you with hidden fees though

>> No.4336675

>>4336655
Bitfinex allows only 3x leverage anyway.

>> No.4336683

bitfinex only does 3x leverage
you can still trade there just say youre from any other country when signing up

>> No.4336685

Put $1000 into Link

Enjoy millionaire status by next year.

>> No.4336712

>>4336683
Do I need a VPN? Are there legal repercussions to lying like this? For example, could they just freeze all my shit an ask me to provide proof of residency in the country I'm pretending to be from?

>>4336685
I bought $30k link when it became available on etherdelta. So I should be worth well over 30 million by next year then.

>> No.4336743
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4336743

>>4336685
priced in AND flushed down
also fat sergay

>> No.4336778

>>4336743
Link was one of those coins I felt like would be OMG 2.0... not sure if that's going to be true.

>> No.4336780

>>4336655
Try BitMEX for higher leverage. They're pretty cool, just watch out for their fees.

>> No.4336833

>>4336780
how bad are the fees? would I be able to load 1 or 2k at a time and margin trade like a crazy asshole? I want 20-50x. Apparently margin trading is the only way you make money in stocks so I'd like to try it in crypto since it's easy for me to make 3-4 grand a day.

>> No.4336880

>>4336833
Here are their live rates for XBT/USD, see for yourself: https://www.bitmex.com/app/contract/XBTUSD

Margin trading crypto is the second-quickest way to lose money (the first being setting it on fire).

>> No.4336937

>>4336880
why?

>> No.4336975

>>4336937

I'm going to let you in on some real trading knowledge: the point of leveraging is to *increase* volatility.

Imaging you knew a company was going to slowly increase from 1 USD a share to 2 USD a share over the course of the next 3 months, you knew there'd be no major dips (because of good developments), just a steady increase in value. Then by leveraging 100x you turn 100% gains in 10,000% gains, because you knew there would be no dip but the growth would be slow.

Leveraging crypto is absolutely retarded because crypto is increasing in value so rapidly its already volatile as FUCK. Leveraging something that might increase 300% in one month is like basically being able to gain 30000% in a month but also being able to lose everything in 20 seconds if the financial equivalent of random noise trades happen.

>> No.4337030

>>4336655
>MFW 25K would get my life fixed and i could lay back till the end of my days.

>> No.4337056

>>4336975
this is a good post anons, take notes newcoiners.

>> No.4337081

>>4336975
pretty much this it's amazing that cryptos has made it easier than ever for people with no idea what they are doing especially regarding trading to make a fortune

>> No.4337095

>>4337081
its because its retard v retard and nobody knows what the fuck is going on, once / if the institutions come its game over for day traders

>> No.4337307

>>4336975
So how are these people making so much money leveraging? or are they just going on the internet to tell lies?

>> No.4337438

>>4337307

Because for every 3x people who get liquidated and literally kill themselves one absolute lucky retard posts about his insane gains on 4chan biz. The sad part is these retards don't even know they're playing russian roulette but with 5 bullets and 1 empty chamber.

The time to leverage trade was to open a 2x position when bitcoin just began its bullrun, but even that was risky. Leverage trading now is literally retarded.