Bitcoin Forum

This token is not bitcoin, it is tokenized form of 3x long bitcoin. Which means it is not that it is not only bitcoin, it is also a very risky asset.



Am I getting something wrong? I discovered x3 tokenization of bitcoin on Kucoin and I wish to know more about it which could be for short term holding.

You can understand better if you see this image:

                                          https://i.imgur.com/Bt4XJon.jpg



If bitcoin go up 1x, this token would go up 3x. I think of giving it a try whenever bitcoin price go below $20000 again provided if something like that would still happen. I click on the product information, this is what I saw:

                                           https://i.imgur.com/JAhyVWv.jpg



I thought this could be an error from my side, I click on my profit and check the language but it was English:

                                           https://i.imgur.com/ienNFLP.jpg


I was unable to read the product information, is there anything I am getting wrong? I like to read product information from the beginning to the end before I can buy such a token, but I understand just English. Maybe this is a bug.

I tried the desktop version, I have to enable Kucoin Leveraged Tokens mode first and agree to some risk disclosure statements.
Idk how that relates to the chinese, it seems to redirect to this page if it's in english https://www.kucoin.com/leveraged-tokens/detail/BTC3L

I hesitate to call them tokens, because these assets are non-withdrawable. It's more about contract equity.

Leveraged tokens. It's a very risk product and people misunderstood how they work. It's why Binance decided to delist them. I read about them and completely lost interest as soon as I finished understanding how they work.

They are only very good for short term and at the point when the market is trendy (Pump or dump) Anything involving holding them for longer hours and sideways or market correction will lead to loses. I would rather stick to my futures trading  ;D

Binance academy and support center actually has a lot of articles about them if you want to understand how they work.

Futures are Kucoin products separate from the main product. Based on the terms of use (https://www.kucoin.com/id/news/en-futures-terms-of-use) of futures products, they only state that certain jurisdictions are restricted from accessing these products, although they do not explicitly state a country.
So this token is an alternative for users to also be able to enjoy the sensation of futures trading indirectly on the spot market with constant leverage settings.