 Show Posts
|
|
Pages: [1] 2 »
|
|
I want to buy around $50 of both WASSIE and BOB through Uniswap but the gas fees are $25 for each transaction!!
Is there any way to get WASSIE and BOB without having to spend so much on gas fees?
|
|
|
|
Thanks for all of your replies - it's nice to see a forum and community who are actually trying to help and advise rather than condescend a newbie  I realise that the most common and less risky way to invest long term is to purchase a coin/token through Spot on an exchange like Binance or KuCoin and then transfer the coin/token to a wallet like TrustWallet or MetaMask (as this is considered safer than keeping the coin/token on an exchange)... If however, hypothetically speaking, we lived in a world where exchanges were perfectly safe and you didn't need to move your crypto to a wallet... and in this hypothetical world I wanted to purchase crypto with a 2x leverage, I was just wondering what the downside (apart from safety) of keeping a long term trade open in Derivatives would be.... From what I can gather through your replies, it seems as though another downside of going down this route (apart from safety) would be that keeping your trade open in Derivatives will accumulate fees that would not be accumulated in Spot.... How do these fees work? Using my initial example which I have quoted below…. EXAMPLE
If I purchase $1000 of BTC using the ByBit Derivatives pair BTC/USDT (i.e. using USDT to purchase the BTC) and I buy the BTC when the price is at $14k using a leverage of 2x, please can someone tell me if I've understood the following scenarios correctly:
1 - If, in a years time, the BTC price goes up from $14k to $56k, that would mean the price has multiplied by 4. That being the case, my investment of $1k USDT which I leveraged at 2x (so effectively invested $2k) will go up to $8k, resulting in $7k profit... Have I understood this correctly? In an example like the above, how much in fees can I expect to pay over a year? |
|
|
|
Long term investment is not related to Spot, Margin or Derivatives.
When you invest long term, you must keep your coin in your wallet, not on exchange. If you mean Spot, Margin or Derivatives, you must store your coin at exchanges. That is bad in security for your coin and capital.
In addition, if you invest and store your coin at exchange, you can easily to go with trading because it is very convenience to trade on exchanges. Then you will change from long term investment to trading and it is bad.
Thanks for the advice but these are only hypothetical queries so when reading them please imagine, hypothetically, that wallets don't exist and exchanges are the only place to hold crypto. |
|
|
|
I'm one of those idiots who invested in a bunch of coins/tokens at the top and lost a load of money - around $35k in total  I sold all of my coins/tokens a few months back but I will be reinvesting in numerous difference projects again when, or if, BTC goes down to $14k - which I believe will be somewhere close to the bottom. Since losing the $35k I started trading using ByBit Derivatives and it's helped me to understand the whole crypto scene a lot more. I lost another $5k when I first started trading but since then I've done pretty well (mainly shorting) and I reckon I'm now around $2-3k up with the trading in total. I'm still massively down overall since getting into crypto though  Anyway, regarding long term investing and whether I should use Spot, Margin or Derivatives... My plan is to invest in loads of different coins/tokens but if we just use BTC as an example... EXAMPLE If I purchase $1000 of BTC using the ByBit Derivatives pair BTC/USDT (i.e. using USDT to purchase the BTC) and I buy the BTC when the price is at $14k using a leverage of 2x, please can someone tell me if I've understood the following scenarios correctly: 1 - If, in a years time, the BTC price goes up from $14k to $56k, that would mean the price has multiplied by 4. That being the case, my investment of $1k USDT which I leveraged at 2x (so effectively invested $2k) will go up to $8k, resulting in $7k profit... Have I understood this correctly? 2 - If conversely the price of BTC goes down from $14k and I do not put in any kind of stop loss, at 2x leverage I estimate my liquidation price would be roughly half of $14k so around $7k (maybe just over)... is this correct? 3 - If I've understood both the above scenarios correctly, what is the benefit in using Spot or Margin? It seems to me that Derivatives does exactly the same as Spot and Margin with the added benefit of additional leverage if required! Is that not right? |
|
|
|
|
It turned out the trade went exactly as I'd planned but it did not appear on my "Open Orders" until I refreshed the page!... very frustrating!
|
|
|
|
Help please... This trade should be making profit now but none of the numbers on the below screen are changing!.... https://postimg.cc/zH3RrMc1I have no idea if I'm in a short trade, a long trade or no trade at all! Can someone plz advise |
|
|
|
Just when I thought I was understanding it looks like I've had a horror!... I wanted to make a short trade using a limit order on the BTC/USDT pair - to trigger when BTC went up from 31,600 to 31,900... In the below box I selected Cross > Limit > Borrow > Typed "31900" as the price > and selected 100% as the amount.... https://postimg.cc/NKdKnKZyI thought this would only start the short trade when BTC got up to 31,900 but the trade seemed to trigger immediately! What's concerning me even more is that the 'Positions' tab makes it look like I've made a long trade instead of a short trade. See below: https://postimg.cc/VrK0bDckThe BTC position looks more like a long trade than a short trade to me but I could be wrong.... When the 'Index Price (USDT)' goes up the 'To Liquidation Price" percentage seems to go up as well! If I am in a short trade shouldn't I be getting closer to Liquidation when the index price goes up? |
|
|
|
The 0.00007057 is the bitcoin in interest that's due - there's no % - (ie it's been added to the amount you've borrowed)
Interest is calculated every hour based on that (I think you get an email summary at some point too that might provide more useful information than the live info).
The amount of interest in BTC shown in my wallet has now gone up from 0.00007057 to 0.00009097... See here... https://postimg.cc/v1DdCgsj0.00009097 BTC is roughly $3 (just under)... is this the total interest I owe or do I have to multiply this by the number of hours I've been in the trade? I've been in the trade for around 5 days now so if it's an hourly rate it's gonna cost me a bloody fortune! |
|
|
|
I shorted BTC around 4 days ago now and I still have the same trade open - which is going pretty well. It's just occurred to me however that I am being charged interest on the 0.28799000 BTC that I borrowed!.... I'm a bit confused as to how much interest I am being charged as, when I select "Borrow" from the trading screen, this comes up: https://i.postimg.cc/DwqdnhGR/Screenshot-1.jpgYet, this is the interest displayed in my margin wallet: https://i.postimg.cc/63QdrGPN/Screenshot-2.jpgOne says the interested is 0.00041667% and the other says 0.00007057%... which is correct? And, is this being charged hourly? Also, how do I add images to posts on this forum? I can't work out how to do it! |
|
|
|
Thanks for the replies.... As stated previously, I shorted BTC around 4 days ago now and I still have the same trade open - which is going pretty well. It's just occurred to me however that I am being charged interest on the 0.28799000 BTC that I borrowed!.... I'm a bit confused as to how much interest I am being charged as, when I select "Borrow" from the trading screen, this comes up:  Yet, this is the interest displayed in my margin wallet:  One says the interested is 0.00041667% and the other says 0.00007057%... which is correct? And, is this being charged hourly? Also, how do I add images to posts on this forum? I can't work out how to do it! |
|
|
|
|
Thanks for the reply...
Just to clarify...
Not that I am going to do the following but just to use it as an example....
If I have $1000 in my Margin account and I put it all in a 10x Isolated short trade for $10000 (meaning I am borrowing $9000), the Liquidation Price is then worked out at the exact point where I have lost the full $1000 from my Margin account and I cannot lose any more than this on this trade? is my understanding correct?
|
|
|
|
|
I've just placed my first ever short trade using the BTC/USDT pairing through Binance Margin (Isolated rather than Cross). I kept the amount very low for my first trade just in case I did anything wrong - but fortunately the trade seems to have gone through ok...
The Isolated trade on Binance allows me to borrow 10x the amount I have transferred into my Margin account. My question is, does the Liquidation Price (shown in the Positions tab) trigger when I have lost all of the money in my Margin account, or, can it access the money in my Spot account as well?
So my question is really... When making a short trade through Binance Margin, am I putting my Spot account at risk or just the money in my Margin account?
|
|
|
|
I have been using Sheldon's (from Crypto Banter) charts on CoinPanel to give me an idea of when to buy and sell (take profits) for different coins/tokens. This obviously hasn't paid off recently but I expect this kind of tool will help me massively if and when we go into the next bull run. Please see a link to a screenshot showing what I'm talking about below (I can't work out how to put the image in the post!): https://postimg.cc/7bT2gDR6The above example shows BTC/USDT a couple of weeks ago but I could also access entry and TP points on numerous other coins/tokens as well. Unfortunately my one month trial on CoinPanel has expired so I can no longer access Sheldon's charts.... Does anyone know of anything similar to this that I can access for free? |
|
|
|
Ah yes it looks like the 'stop market' option is available on the 'Futures' screen but it won't give me access to all coin/token trades in 'Futures' from what I can tell. If I want put a 'stop market' sell order for the SPELL/USDT pair for example - is this not possible?
Just checked my binance account, looks like you are right. The “stop market” feature is not available for spot trading. Sorry. Apologies I explained this incorrectly - I shouldn't have used $1 as the LIMIT example as that was way too high!... Basically what I'm asking is, using SPELL/USDT as the example, if I want to put a stop limit order to sell if/when SPELL goes down to $0.0062, what happens if I put the STOP amount as $0.0062 and the LIMIT amount as $0.0001? My understanding is that putting the LIMIT so low will essentially make this a 'stop market' order as a) it will sell as close to $0.0062 as possible but maybe just under, and b) putting the LIMIT so low will essentially mean that the sell order is bound to go through.
So, with the above example, even if I've put the LIMIT as $0.0001, it should still sell somewhere near the STOP price of $0.0062 so I would expect it to sell at $0.0062 or $0.0061... and there should also be no danger of it not selling because it will keep trying to sell right down to $0.0001.... Have I understood this correctly?
Yes, you are absolutely right with that explanation. However, I don't think you need to set the limit price too low at $0.0001. Maybe this is okay for an exchange that has a high trading volume like Binance. What I'm worried about, is that you apply it in a low-volume exchange, the opportunity to sell at the lowest price is very possible. Just set a limit price at a fair value (you can afford to sell at that price). Ok... thanks for your help |
|
|
|
Check this out: Desktop version, mobile version Ah yes it looks like the 'stop market' option is available on the 'Futures' screen but it won't give me access to all coin/token trades in 'Futures' from what I can tell. If I want put a 'stop market' sell order for the SPELL/USDT pair for example - is this not possible? 2 - If my understanding of the above is correct, is there any downside to setting the limit at $1? (i.e. to ensure that the token definitely sells if it drops below my stop price) Apologies I explained this incorrectly - I shouldn't have used $1 as the LIMIT example as that was way too high!... Basically what I'm asking is, using SPELL/USDT as the example, if I want to put a stop limit order to sell if/when SPELL goes down to $0.0062, what happens if I put the STOP amount as $0.0062 and the LIMIT amount as $0.0001? My understanding is that putting the LIMIT so low will essentially make this a 'stop market' order as a) it will sell as close to $0.0062 as possible but maybe just under, and b) putting the LIMIT so low will essentially mean that the sell order is bound to go through. So, with the above example, even if I've put the LIMIT as $0.0001, it should still sell somewhere near the STOP price of $0.0062 so I would expect it to sell at $0.0062 or $0.0061... and there should also be no danger of it not selling because it will keep trying to sell right down to $0.0001.... Have I understood this correctly? |
|
|
|
If I just want to do a normal stop order at $95 how do I do this?
On Binance there are stop limit, stop market and OCO. Then you just use the stop market so you don't need to enter a limit price. And you don't have to worry that your order will not be filled, because of that you will get prices (maybe) vary until all of your order volumes are filled. Keep in mind, a stop market means you don't limit your losses to a price you can afford. If the buy order gap or sell volume is too high, you can get a price at the bottom even though the actual decline didn't reach it. I personally prefer to use a stop limit rather than a stop market. I can't see a 'stop market' option... where can I find it? That's exactly what I'm looking! Also, just 2 final questions on stop-limits to make sure I fully understand: 1 - If I put both the 'stop' and 'limit' values as exactly the same and the token has a big drop all of a sudden taking the price below both the stop and limit values that I've entered, am I right in saying the sale order won't trigger unless the price goes back up to the amount I've entered as the 'limit'? 2 - If my understanding of the above is correct, is there any downside to setting the limit at $1? (i.e. to ensure that the token definitely sells if it drops below my stop price) |
|
|
|
Ok thanks for this - I thought that may be the case but if you look at this screenshot: https://postimg.cc/TpdFTR8h it is asking for the amounts in USDT ... Is that a bug/error on the website? It is asking Token price worth of USDT not your invested amount of usdt. it is not bug/error on that exchanger. this is a misunderstanding of yours. Got ya - ok thanks for your help |
|
|
|
Thanks for the reply... Doesn't this risk the token not being sold at all though? If you look at the 4 min video here: https://www.youtube.com/watch?v=GodKseSPFtE it seems to be saying that, if both the stop and limit prices are bypassed whilst the token is decreasing in value, the price would need to go back up to the limit value in order to be sold - which risks the token not being sold at all - unless I'm mistaken? Yes, hence why I said it depends on how thick the orderbook is. But regardless, even if it's a stop-loss and not a stop-limit, you're very likely to be selling at a lower price if it was a flash crash(one huge red candle) in the first place. So if you really really want to get it sold no matter what, set it to like $50 or something; obviously it comes with the risk of your coins being sold far lower. Ok thanks... Just one more thing that's confusing me.... I bought $100 (USDT) of SPELL and want to sell if it drops to $85 in value. Please see screenshot here: https://postimg.cc/DmfxRx3KWhy on earth does it show the total as 1044560 USDT? What does this total represent? Here you have to mention btc price. not your usdt amount. you have to calculation in yourself. Like if you bought btc for $100 at 37,500 usd per btc. then you will get 0.00266 btc for your 100$ now if bitcoin drop to 32,000$ then your 0.00266 btc value will $85. now here you have to Stop (USDT) 32,000 and Limit (USDT) 31,998  Ok thanks for this - I thought that may be the case but if you look at this screenshot: https://postimg.cc/TpdFTR8h it is asking for the amounts in USDT ... Is that a bug/error on the website? |
|
|
|
Thanks for the reply... Doesn't this risk the token not being sold at all though? If you look at the 4 min video here: https://www.youtube.com/watch?v=GodKseSPFtE it seems to be saying that, if both the stop and limit prices are bypassed whilst the token is decreasing in value, the price would need to go back up to the limit value in order to be sold - which risks the token not being sold at all - unless I'm mistaken? Yes, hence why I said it depends on how thick the orderbook is. But regardless, even if it's a stop-loss and not a stop-limit, you're very likely to be selling at a lower price if it was a flash crash(one huge red candle) in the first place. So if you really really want to get it sold no matter what, set it to like $50 or something; obviously it comes with the risk of your coins being sold far lower. Ok thanks... Just one more thing that's confusing me.... I bought $100 (USDT) of SPELL and want to sell if it drops to $85 in value. Please see screenshot here: https://postimg.cc/DmfxRx3KWhy on earth does it show the total as 1044560 USDT? What does this total represent? |
|
|
|
With your example, you can just set the limit price to something like $90. Because even if you set it lower, the coin/token will be sold to the highest buy offer available anyway, which should be around $92-94(depending on how thick the orderbook of the trading pair is).
Thanks for the reply... Doesn't this risk the token not being sold at all though? If you look at the 4 min video here: https://www.youtube.com/watch?v=GodKseSPFtE it seems to be saying that, if both the stop and limit prices are bypassed whilst the token is decreasing in value, the price would need to go back up to the limit value in order to be sold - which risks the token not being sold at all - unless I'm mistaken? |
|
|
|
|
