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When Will Bitcoin Hit $20,000? Guess Correctly And Win $888
Yes, you read that right. In this contest you can win $888. All you have to do is to guess the day at which the Bitcoin price passes $20,000. And: You get to guess three times. So you have three chances of winning.
As some of you might know, I signed up with Bityard Exchangein order to compete in a writing contest with a prize pool of $800. You can read all about it in this article and learn how you can compete for the prize money as well.
Bityard Exchange is a platform that allows you to trade crypto and some other securities with leverage and margin.
You always trade the security against USDT. In addition to Bitcoin and the most popular altcoins, you can also trade commodities like gold, silver, natural gas, oil and even some stock indices like Nasdaq 100 or the German DAX.
In addition to buying long positions, you can also buy short positions.
Personally, I am more of a buy and hold guy, but there are certainly times where it absolutely makes sense to buy a leveraged short position on a security in which you have long positions. Just see it as an insurance policy: If there is another crash like in March of 2020, I could have put $100 into a short position on the DAX, for instance, of which I hold a few stocks. These $100 would have become a lot more during the crash. With the profits of the short I could have bought some nice stocks at bargain prices... Unfortunately, I had no way of shorting back in March. Now I am prepared...
Apart from that use case, I have been looking for a crypto trading exchange with low fees. So I signed up right away. 😁✌️ By the way, it seems that on Fridays they drop all fees.
They offer a capable interface with a good charting tool for numerous cryptos and other securities, a demo trading account and the best part: You get free crypto by signing up with this link.
Here is a view of the trading interface:
And here is a list of some of the crypto you can trade.
And some more crypto.
And some indices and commodities.
And here you see the bonus offers after you signed up with this link. You get $4 in USDT. In addition, you get 6 BYD which is their own crypto. You can use these BYD to "mine" other crypto, for instance BTC, BCH and ETH.
If you use the platform for trading, there are even more bonuses to be had.
I would not be able to sleep at night if I didn't write a warning about margin trading.
What you need to know is that the trading platform only allows you to trade with leverage and margin. The smallest leverage is 5. The highest leverage depends on the security which you trade. I saw numbers as high as 200! (That's insane if you ask me.)
So keep that in mind! Do your own research before you trade with real money.