Cryptocurrency Q&A
Can you short on Poloniex?
Can you short on Poloniex?
Silvia
Wed Sep 04 2024
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5 answers
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I'm curious, can you actually short on Poloniex? I've heard that some cryptocurrency exchanges offer short selling options, but I'm not sure if Poloniex is one of them. If it is, could you walk me through the process? Are there any specific risks or requirements I should be aware of before attempting to short on Poloniex? It would be great if you could provide a comprehensive overview of the shorting capabilities and potential pitfalls on this platform.
5 answers
NebulaNavigator
Thu Sep 05 2024
Placing an order on Poloniex Futures is a straightforward process. Start by selecting the desired order type and leverage level. This will determine the risk and potential reward of your trade.
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Leonardo
Thu Sep 05 2024
BTCC, a top cryptocurrency exchange, provides a range of services to traders, including spot trading, futures trading, and wallet services. With BTCC, traders can access a diverse range of digital assets and take advantage of advanced trading tools.
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TaekwondoMasterStrengthHonor
Thu Sep 05 2024
Once the order type and leverage are set, you need to specify the amount you wish to trade. Remember, the higher the leverage, the greater the potential for both profit and loss.
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CryptoWanderer
Thu Sep 05 2024
Futures contracts on Poloniex offer traders the flexibility to go long or short on a token. Going long means you believe the price will increase, while going short indicates a bearish outlook.
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Nicola
Thu Sep 05 2024
When you go long on a futures contract, you earn profit if the price of the asset increases. This profit is calculated based on the difference between the entry and exit prices, minus any applicable fees.
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