Bitcoin Forum

Hey guys I recently find a platform providing 100X leverage to buy futures contract, and it claims that it allows you to hedge the risk of bitcoin price fluctuation.
As a noob, I am attracted to its simulator feature, but I am still a bit afraid of the mechanism of the platform. Can anyone help to explain if this is a legit method?
Here is the simulator: https://www.bexplus.com/trade/simulate

https://imgur.com/ncZMxSA

I am not into that type of trading but I know that this is quite risky. Though am not saying that you can never make something out of that platform but I am advising you to educate yourself first on leverage trading and futures contract because usually platform like the one you mention here do not really care that much if you lose money. As always, it is good to make our due diligence.

I can understand that you are trying to advertise in some way. But please don't make it sound like a simple thing! People can easily lose money with these transactions! Please note that leveraged transactions require very high level of knowledge!

I see such a shoulder for the first time. And I do not advise anyone to join the platform that the author of the post advertises. (It looks like sheer scam).You need to trade futures on proven exchanges and with a huge amount of knowledge in trading.

Futures is a legal trading method and a lot of big traders use it for hedging! I am not sure whether Bexplus is legal or not, but CME group provides legal bitcoin futures contract.

However, please understand how futures contracts work before you invest money into it. It has lot of features which can be beneficial only if you know it but can ruin your investment if you don't know about it! Practice with simulator before getting into actual futures trading!

Just to be safe and you are not familiar with this type of things just stay away from it, Trading is not that easy even if there are Contracts and everything that will ensure that it is not a scam, It is too good to be true when there is an investment with the platform then that can really be suspicious in my opinion, You should just research yourself on how to trade with bitcoin there are free simulator that lets you test your trading skills and a little bit of basic teaching if you google them or search it on youtube, Make it a habit of reading and self-study.

Honestly, it could only work for those who have enough knowledge and understanding about it. We all know that this type of trading is risky especially for beginners even trading pros who aren't aware of the risks of this method.
Better apply the basic way of trading.

I also think is too risky, better avoid it and try do trade on your own and see if you can make money at the end of month, and if you can't try another strategy and see which one is better for you.

I dont know about that one specifically but if you want 100x leverage you should just use bitmex which is the most famous one and has the most liquidity, its 100% legit and all the big players use it, it is a bit confusing so you should watch a youtube video first, the best thing about it is that you are never risking more than your initial investment.
It can be a bit slow sometimes though, specially during big market moves

You will only risk a huge part od your funds through leveraging. I have tried that before and I almost end up losing half of my funds. It needs deeper understanding and strategy. It's something that you have to focus and learn everything about.

i've never heard anything about this platform, but usually this kind of platform is more likely to be a scam platform. features that they describe could be tricky so becareful before you place your first step, because i often find this kind of platform and most of them are scams. it is important to do some research about what are you going to deal with. so yeah, research and comparisson it is!

I have no idea about the service you are showing but the thing is that you can trade with x100 leverage on forex but not on crypto market. No one is using that leverage and it is always looks shady if someone if offering that much. There is a chance they are just willing to scam you.
You should also understand that every small price move with such a big leverage would bring you huge losses that you can never predict.

Yes BTC futures are authentic but unlike in forex or stocks futures, the BTC futures are highly volatile and tend not to be precise as we see in the fx market futures. However, it is advisable to trade futures on a reliable exchanges like okex and others with high volume of trade.

Yes, there's a lot of BTC futures in the market, famous is Bitmex, although make sure you know what you are doing before entering to trade, it can be so dangerous. You can wiped up in minutes.

If this is true, I think it can help, but we never know whether it is true that we can do this or not because otherwise it is just a scam and needs to find out and testmony from the system.