[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports / report a bug ] [ 4plebs / archived.moe / rbt ]

2022-11: Warosu is now out of maintenance. Become a Patron!

/biz/ - Business & Finance

View post   
View page     

[ Toggle deleted replies ]
File: 1.93 MB, 1271x720, The.Wire.S01E11.1080p.BluRay.DD5.1.x264-CtrlHD - Confused.webm [View same] [iqdb] [saucenao] [google]
7660931 No.7660931 [Reply] [Original] [archived.moe]

There are people on biz right now that only know how to make money in a bull market
There are people on biz right now that don't know you can "Tether up/Cash out" without touching Tether or USD to avoid taxes on each trades.

Ok I'll throw you guys a bone, here is how it's done.


>> No.7660943
File: 965 KB, 1397x851, file.png [View same] [iqdb] [saucenao] [google]

In situations like this your can make more money when BTC crashing than you can chasing moon missions if you know what you're doing, just by trading BTC, no need to touch altcoins.
Why are you missing out on these gains? BitMEX (the "mex" stands for Mercatile Exchange) is the only crypto exchange in the world that offers 100X leverage (but it's not because you can that you must, go small and work your way up).
Let me explain what this means. So lets say you were to have shorted (placed a sell order) for BTC at $10 000. Let's also say you only have .1 BTC to trade with, or $1 000 worth. With .1 BTC at x10 leverage you can sell 1 BTC. Then for every dollar BTC goes down, your position is worth $1 more. Say BTC goes to $8 000, if you close your position you then get the difference which is $2 000 in profit paid to you in BTC, that's a 200% profit
I would suggest you learn TA before you start trading. You can train using their testnet (free).
You want a moon mission? BitMEX is your moon mission.
Euros and others can sign up but US users are banned (just sign up with a proxy and then you can login from a US IP with no questions asked). If you're going to sign up use my reference code, using a reference code gives you a %10 discount in fees. May not sound like much but it's saved me hundred of dollars in the past weeks: https://www.bitmex.com/register/toYHiE

- Interface is amazing with professional grade advanced order types
- Liquidity it offers is completely unmatched, it's the biggest exchange volume wise: https://coinmarketcap.com/exchanges/volume/24-hour/no-fees/
- BTC deposits take less than 10 minutes: just 1 confirmation from the network needed
- Never down, no shady flash crashes caused by website being down like Poloniex does

>> No.7660994
File: 79 KB, 1523x830, 1.png [View same] [iqdb] [saucenao] [google]

Now here are my advices if you want to stay safe, and if you don't want to use Tether

0. x100 leverage is pure gamble I can not stress this enought, use lower leverage

1. Read the docs and make sure you understand exactly how the contracts work (both futures and swap), profit/loss calculation and how liquidation works. Make sure you understand the difference between mark price and index price.

2. x1 shorts are way to cash out without using the Tether time bomb or Fiat:
Say you have 1 BTC which is worth 10 000$ at a given time in bear market and you think it's doing to dip further you short sell 10 000$ worth of contracts which will cost 1 BTC
A few months latter BTC @ 5 000$ and is bullish again, you decide to go long again so you buy back/close your short position you still have 10 000$ worth of contracts so you have now 2 BTC.
You can even get paid funding rates for holding your position + makers fee for going short
If you're "cashing out" long term and you don't want to pay funding fees use futures contracts (XBTH18, XBTM18) not the swap contract (XBTUSD)

3. The interface may seem a bit complex to some, don't let that discourage you, it has very advanced order types and you can practive with testnet BTC (get some from a faucet) on bitmex's testnet.
Make some trades on the testnet to confirm your understanding of the contracts and the site in general.

4. I prefer trading on Cross. It's very important to not trade too many contracts, I trade 1 contract at a time. I strongly recommend not to trade so many contracts that your are more than 2x leveraged. Ideally less than 1x, at least in the beginning.

5. Don't forget to set a stop loss, plan your trades and trade your plans.

Trading with above x5 leverage is a lot harder than most people think. By far most traders on there lose money because they use too much leverage, those that trade with x100 leverage lose all their money, so don't use that.

>> No.7661048

If this makes BTC go south you better pull out of alts > BTC > short x1
Rebuy your shitcoins later at a better price ready for 2018 bull run.

>> No.7661183
File: 80 KB, 1525x895, 2.png [View same] [iqdb] [saucenao] [google]


>> No.7661321

Good stuff man. Thank you . Are you on Twitter ?

>> No.7661416


>> No.7661519

How do you get it back into fiat ? Does it send to any bank ?

>> No.7661585
File: 145 KB, 645x729, 1507036717990.png [View same] [iqdb] [saucenao] [google]



>> No.7661603

bitmex shill thread

>> No.7661671

You need a FIAT based exchange for that (Coinbase, Kraken, etc...)
Easier way to cash out, easiest way for IRS to know how much tax you owes.

I would suggest that over 200K$ you see a tax lawyer, they could help you optimize your taxes.

If you don't want to pay up, I would suggest swapping your BTC for Monero or any darksend coin with enough liquidity and cash out slow through localmonero or something similar, be very careful tho with hand to hand transactions.

>> No.7661804


www.xoinxo.com new crypto-to-fiat exchange service cashes out your crypto from overseas personal accounts under title personal gift/donation. 0% tax and completely legal

>> No.7661868

We know nothing about the team
Bugs on the website like it was made in a rush

>> No.7661916

I know about Tether. I’ve used it in the past, but that shit scares me now.

>> No.7662199

Its also based in fucking Turkey. Nope. If I'm going to use that kind of service it better be based out of fucking Switzerland or something.

>> No.7662228

Remember Swissborg.

>> No.7662332


I've made two transfers so far and everything worked fine. switz would be better but at least it's not india.

>> No.7662353

pics or it didn't happen.

>> No.7662363

>Never down, no shady flash crashes caused by website being down like Poloniex does

Yeah, not like Bitmex crashed for 30 minutes when we reached absolute bottom, and hundreds of people were left holding their short positioned dicks in their hands while watching some faggot pump BTC from $6.5k to $7k in a matter of 15 minutes.

Let's just forget about that.

>> No.7662392

>not having stop losses
my stop loss was triggered

>> No.7662431

I closed my short at $6.7k. What pissed me off was that I wasn't able to go long because the site fucking crashed.

>> No.7662444
File: 38 KB, 349x352, drake.jpg [View same] [iqdb] [saucenao] [google]

I'd rather stay poor than read all that shit

>> No.7662449

This guy is a retard everyone. TA is fucking bullshit you stupid fucking niggers


>> No.7662510

>there are people on /biz/ right now who don't know how to green text

>> No.7662970

>USD to avoid taxes on each trades.
This is my flag to spot poorfolios. Taxes on each trade doesn't mean you get taxed more with each trade, you utter retard. You know what millionaires do? They shift their holdings into usd on gdax and wait to buy the dip. They then pay their taxes on their free money and live happily ever after.

>> No.7663033

>shorted (placed a sell order)
there should be a licencing exam to be allowed to use the english language

>> No.7663164

Newfag greentext cancer

>> No.7663184


pics of what anon? my tits? kek

>> No.7663266

post tits

>> No.7663490

TA is not absolute its a tool but FA is also important. Ofcourse it doesn't work completely of its own.

Look at the recent SEC hearing, BTC pumped on that news, but according to pure TA it would crash to 3k. So no it doesn't work purely on its own but its a tool and should never be the decisive factor alone.

>> No.7663664

This doesn't make sense, when you short you sell into USD before you close your position and surely that is a taxable event.

>> No.7663717

>sign up using my ref

>> No.7663985
File: 22 KB, 400x399, 1518056839297.jpg [View same] [iqdb] [saucenao] [google]

Wasn't there some duder that lost all his money trying to short bitcoin with 100x leverage the other day because he was off by like $100?
>yes, yes there was
n-nooo thanks just bought 100k

>> No.7664018

Either LARP or duder was really stupid.

>> No.7664076

screenshot of successful transfers faggot

>> No.7665012


nice try IRS good day you too

>> No.7665503

>margin trade in one of the most volatile markets of the world
Some of us are not poor pajeets who need to x10000 to make it. Have fun with those flash crashes and unexpected liquidations.

>> No.7665537

Why buy crypto on margin when you can go to the casino and put it all on red?

Delete posts
Password [?]Password used for file deletion.