The cryptocurrency market is ripe with opportunity to increase your wealth. A few early adopters of Bitcoin have become millionaires simply by holding the asset. Investors who are willing to take on more risk speculate on altcoins and obtain amazing returns if they exit correctly. Traders secure life-changing amounts of profit by learning the market movement and capitalizing on the price changes.
Unfortunately on the other side, there are also traders who have lost their life savings trading the market. Some investors feel FOMO (fear of missing out), buy the top of a crypto asset cycle and hold all the way down to the all-time low price. This volatility can be brutal if a trader is unable to navigate it with a plan.
The plan to profit from the price movements of Bitcoin and other crypto assets involves making profit when the price is increasing and also when the price is decreasing. This type of trading is possible through the futures market mechanism. In futures trading, traders buy and sell contracts for Bitcoin or another cryptocurrency and settle their positions in cash (USD Tether).
Traders can choose to short Bitcoin if they predict the price is going down. “Shorting” means that you place an order for a contract that will give you profit if the price in the future is lower than the price when you bought that contract. When the market is trending down, or when it’s entering a bear phase, then traders can short sell to still gain profit or protect their assets from price reduction.
BigoMex is a cryptocurrency contracts trading platform that allows traders to go long or short on Bitcoin and a number of altcoins. It has received a license from ACRA, the financial regulator in Singapore. The team consists of people who have more than 10 years of experience from the finance industry, internet industry and early investors in Bitcoin.
The purpose of BigoMex is to make trading crypto assets simple. It avoids using many buttons and features that can be confusing, especially for people who are new to the market. Using BigoMex’s application, a trader can login and make a long or short order in less than a minute. In today’s fast-moving market, being able to act quickly can determine whether you make profit or miss a trade.
BigoMex’s interface is simple and easy to use
BigoMex currently supports 17 trading pairs, with more pairs to come in the future. The popular pairs include Bitcoin (BTC), Ether (ETH), Litecoin (LTC), XRP, TRX and others. The price is indexed to major cryptocurrency platforms Binance, Bitfinex and Coinbase to ensure stability.
Users can trade these assets using margin and leverage. BigoMex offers a minimum margin of 2 USDT and leverage ranging from 10x to 100x. The low minimum margin offers an easy entry to new traders who want to trade with a small position. New traders can try out BigoMex’s trading demo feature to simulate their trading plan using real market prices.
Traders who sign up to BigoMex can get a 5 USDT bonus and various rewards. Users who make a first-time deposit of 100 USDT or more get a 20 USDT bonus. There is also a bonus of up to 268 USDT for traders who manage to achieve certain thresholds in trading volume. Users who want to bring their friends along get commissions based on their valid friends’ trading fees.
The cryptocurrency market has been moving at a rapid pace these past months as Bitcoin enters a new bull market phase and altcoins are following along. During the corrections in this bull run, BigoMex offers a platform where traders can take profitable positions during downtrends and also get many bonuses to help make trading become even more exciting.
Register here to get a 5 USDT bonus and start trading.
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
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