BTCC
Leverage trading is a trading concept with a unique funding model where platforms allow traders to benefit from latent credit benefits. Borrowing capital to trade is a fundamental arrangement cutting across individuals and entities, and it applies similarly to crypto-assets.
Crypto-based CFDs like Bitcoin accommodate speculators on a correct-prediction-to-win basis.
Leverage in actual terms creates a more precise picture regarding how many times every open position’s capital is worth in either a win to profit or the opposite.
By default, platforms assume that traders understand the entire concept under their applicable policies.
In ordinary circles, lenders allow you credit facilities for payback in the form of interests. The scenario is conceptually similar for Bitcoin leverage but has some slight uniqueness in the entire arrangement.
For every trade or position you open on leveraged terms, a designated value is attached to it by a constant multiplier- which is always pre-determined. And for ease of understanding and applicability, a multiplication sign (X) is placed as a suffix to the multiplier.
In a simple analogy, if you leverage $1 up a hundred times and win, you’ll pocket $100. If you lose on the stake, you part with $100 worth on the same line.
It all narrows down to staking or betting within the forays of financial markets and into specific bitcoin leverage trading. No single entity is ever in control of the price (demand vs. supply) equilibriums. However, leverage is a reality that cuts back and forth. Through leverage, speculators manage risky business environments by deploying numerous tools to decrypt the price equilibriums’ movements.
My Winning Story with BTCC.com
At the start of the year, I stumbled upon a goldmine – BTCC.com.
BTCC is a 9-year-old crypto exchange and now provides bitcoin futures contracts trading and the total trading reached 98 billion USDT contracts in the last 30 days, especially in the Korean crypto futures market (비트 코인 선물).
Why do I refer to it as a goldmine? Read on, and you discover the amazing secret that qualifies my description.
One Step Back
I was introduced to online trading by my friend, Cornelius, in June 2019. Cornelius does websites for clients, and I happened to be at his office for an in-tuition slot with him for my PHP programming projects.
Our meeting venue was his tiny office, although he had a small boardroom where he had a pack of 6 trainees who were novice traders.
Every day past 6 O’clock, three gentlemen would occupy the same boardroom, and the novice traders would exit. The three were master traders, as I’d come to learn later.
Into our third and last week, I engaged Cornelius regarding the whole scenario about trading. And he was more than eager to explain the bits to me. That very day, Cornelius put me on a demo account, and I began my massive journey of exploring online trading. There are two books that Cornelius shared with me and whose content I devoured with great relish:
One is Technical Analysis by Adam Grimes, and the second one is Trending the Trend, by Rayner Teo.
Although learning online trading is tricky, everything depends on your levels of interest and balancing expectations within risky scenarios. From my mentor- Cornelius, I took home one handy note: You must not always trade, and there will always be opportunities to either go short or long.
Leveraging and Contractual Timelines at BTCC.com
With BTCC, they allow speculators to leverage up to 150X for their open positions. On average, I noted most other platforms shy away from the 100X mark they offer.
Also, the timelines are vastly flexible. There are positions you can open contracts for Bitcoin futures on either daily, weekly, or in perpetuity.
Although my trading schedules are drawn out weekly, all my trades close out daily. You do not know what will happen the day after, so I take that as a point of caution.
Mastering News Events
Things change with the twinkle of an eye with financial markets, and my best tool to master them has been forexfactory. They display a massive database with countdowns for every significant news item with bands for each estimated impact: low, medium, and high.
Applying the Forex Basics in Crypto CFDs
My interests upscaled, and after mastering the price movements for Gold, I entertained a thought about Bitcoin, and my research ended up with a rather vague note: You can own Bitcoin by staking. By the way, I had around 20 Satoshis tucked away in an electrum wallet.
BTCC falls among the few initiators of Crypto-CFDs, with Bitcoin ones being most prominent.
If you look at any trading charts, the basics apply: price lines, spreads alongside the charts. The same applies to crypto-CFDs.
In March, our county government-enforced lockdown measures to contain COVID-19 pandemic spreads. And my employer sent me on unpaid leave!
How did I use my time?
My eyes looked deeper into the newest entry in the trading markets- Bitcoin futures under BTCC.com. When April came, I funded my account and started my speculations.
Upscaling Incomes and Trading on Schedules
Online trading is vast, with opportunities virtually arising every time there are price movements. I’ve always traded on strict schedules. It’s the discipline that keeps me on track.
My Biggest Wins
For BTCC, there are frequent giveaways, and I grabbed the chance to win back up to USDT 2500 from funding my new account with more than USDT 500.
Since June, I’ve not been raking in anything less than $750 on a weekly basis! As timelines close towards the end of October, my schedule is a constant cycle: opening my week with a deposit of $100. It’s important to note that this is considered an investment and subject to tax rules so if you’re filing taxes as a new investor make sure you take advantage of a service like TurboTax Premier or consult with a tax accountant.
I do not see myself reporting back to my place of work even after all COVID-19 lockdowns get lifted.
My Final Thoughts
There are winning opportunities on BTCC concerning the oscillations of Bitcoin prices. And winners stick to a tested and proven strategy. Take time to grasp the ability to read charts.
In my case, I mastered reading the candlesticks following the insights from Ryner Teo’s Book- Trending the Trend.
Apart from mastering the Bitcoin price trends, add up to at least two tools to re-confirm your entry and exit positions.
Try your first bitcoin leverage trading on BTCC. Up to 2,000 USDT deposit bonus is available for new users now.
