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Title: Is there any decentralized way to short crypto? Post by: markcolls on April 28, 2022, 11:52:07 AM I would like to short crypto, but I don't want to do it via a centralised exchange. What atomic swaps did for exchanging cryptos, I am looking for a similar mechanism/service for shorting crypto. Does such a thing exist?
Title: Re: Is there any decentralized way to short crypto? Post by: Upgrade00 on April 28, 2022, 12:43:31 PM So basically, you're looking for a platform where you can sell cryptocurrency and buy back later.
I've not used atomic swap, but there are a number of decentralized exchanges you can use to sell and buy back later, depending on the exact currency you want to sell and what you want to exchange it for, fist or some other cryptocurrency? Title: Re: Is there any decentralized way to short crypto? Post by: mk4 on April 28, 2022, 12:57:57 PM I wouldn't say decentralized because calling something "decentralized" is a slippery slope that would end up with us here arguing for days and days, but there are a lot of non-custodial platforms out there for this. One of the most used "DEX" (based on trading volume) right now is dYdX[1]. DYOR.
[1] https://dydx.exchange/ Title: Re: Is there any decentralized way to short crypto? Post by: jackg on April 28, 2022, 01:00:46 PM I noticed the waves exchange have listed btc up and btc down tokens, I'm not sure if these follow the same rules of binance or how they're backed but they might be something to look at (I'm also not sure how decentralised the waves exchange is).
(binance made those tokens to offer a leverage of 1.25-4x without a liquidation). There's so many sign up bonuses on current futures exchanges that I don't think a dex would be able to compete very well and maintain a good volume. Title: Re: Is there any decentralized way to short crypto? Post by: hosseinimr93 on April 28, 2022, 01:20:06 PM I noticed the waves exchange have listed btc up and btc down tokens, I just visited the exchange you mentioned to see how those tokens work. It seems that no one is interested in those tokens and there is no liquidity. The 24 hours trading volume for both BTCUP (https://waves.exchange/trading/spot/BTCUP_USDN) and BTCDOWN (https://waves.exchange/trading/spot/BTCDOWN_USDN) is zero. Title: Re: Is there any decentralized way to short crypto? Post by: cryptoaddictchie on April 28, 2022, 03:39:17 PM I would like to short crypto, but I don't want to do it via a centralised exchange. What atomic swaps did for exchanging cryptos, I am looking for a similar mechanism/service for shorting crypto. Does such a thing exist? By means of shorting is like selling with leverage right? But since you mentioned atomic swap, then simply sell your crypto, but you wouldnt jave any multiplier with that since no swaps leverage on atomic swap but if you used mk4 suggestion, it literally works like centralized but in a decentralized platform. Title: Re: Is there any decentralized way to short crypto? Post by: tranthidung on April 29, 2022, 02:33:53 AM So basically, you're looking for a platform where you can sell cryptocurrency and buy back later. You should know there are differences of Buy & Sell; Long & Short; Bid & Ask.. Sell now and buy back later, it is Buy and Sell. Short relates to Long and leverages so it relates to Short squeeze that is terrible. Crypto market does not operate only because of supply and demand but is affected seriously by Long squeeze and short squeeze. So if OP want to short a cryptocurrency, please zoom in and out to have narrow and wide view, and think of short squeeze risk. |