My experience as a spot trader

[Olamidetechie]

This is just my view for now; I don't know what might happen tomorrow to change it. Before that, let me explain. A friend told me to buy $BGB four months ago, and I invested a certain amount after he revealed it was an exchange-owned coin. Back then, it was around $1.4. As I'm speaking now, it's reached $5.2, and my portfolio has increased massively.

This incident has once again shown that spot trading can be the best option. Apart from having my portfolio increase, holding more than 10 BGB qualifies me to be a holder, and also join the exclusive community, and entitles me to BGB airdrops whenever events like this happen.



Now, tell me, do you think I would have gained such opportunities trading futures or other trades?

[Dr.Bitcoin_Strange]

Congratulation on your win, but apart from this coin, how many other altcoins have you had this kind of success? Having this kind profit with altcoins is by luck these days, so many scam projects have made it so difficult to even figure out the good ones. Another thing, holding altcoins for a long term like Bitcoin is at your own risk because anything could happen to the project and the team can just abandoned it, it has happened many times.

[Olamidetechie]

Congratulation on your win, but apart from this coin, how many other altcoins have you had this kind of success? Having this kind profit with altcoins is by luck these days, so many scam projects have made it so difficult to even figure out the good ones. Another thing, holding altcoins for a long term like Bitcoin is at your own risk because anything could happen to the project and the team can just abandoned it, it has happened many times.

Thanks also i have traded quite number of coins and the main reason why my success rate is somehow higher was because they are onchain projects so it may actually be about luck but rather the research made through the onchain. Secondly, The main reason i hold this for long was because it is an exchange owned project

[Odusko]

Really but you never showed us you portfolio to give us more insight of how much you have gained from your investment over this period of time, since altcoins investment is viewed as high risk investment and to avoid chilling for any particular projects, we offen desire to see someone share a real evidence of their involvement with the project, rather than making the whole point look like a paid promotions.

[JeromeTash]

I hope you are not just trying to shill the exchange token here. Anyway, people who traded from the ICO times when there were tokens like BNB being launched can tell how they made lots of money after the token pumped a few years after. I recall times when BNB was around $1, but today the price is over $600.

I however, think no other exchange token will replicate such success. Not Kucoin shares, Not OKB, not Phemex token, not BGB because the tokens that came in later were just copycats. No originality.

[nelson4lov]

I hope you are not just trying to shill the exchange token here. Anyway, people who traded from the ICO times when there were tokens like BNB being launched can tell how they made lots of money after the token pumped a few years after. I recall times when BNB was around $1, but today the price is over $600.

I however, think no other exchange token will replicate such success. Not Kucoin shares, Not OKB, not Phemex token, not BGB because the tokens that came in later were just copycats. No originality.

Tbf, Bitget team and community have done well so far. It won't get the kind of success of BNB but its commendable and much more success than Kucoin had with KCS or Bybit with their MNT token. Building an exchange in a space where binance and other exchanges have heavily dominated and then end up carving a spot for themselves near the top is commendable imo.

I'm saying this not as a fan of Bitget or a BGB token holder.

[asriloni]

Spot or Futures, it doesn't matter at all. What matters in trade is that on what position you're entering. As long as you're entering in the right price, you will always get profit.

You said that you get massive profit because you bought BGB at 1.2, and you can also get the same when you're also taking long at 1.2 too.

The only thing that i don't like in Spot is that you can't get profit when the price of BGB dumped, while i can still get some by shorting it. Spot or Future, it's all good, but i like Future a bit more because i can even get profit even during the dump.

[Iamcrypticguy]

I hope you are not just trying to shill the exchange token here. Anyway, people who traded from the ICO times when there were tokens like BNB being launched can tell how they made lots of money after the token pumped a few years after. I recall times when BNB was around $1, but today the price is over $600.

I however, think no other exchange token will replicate such success. Not Kucoin shares, Not OKB, not Phemex token, not BGB because the tokens that came in later were just copycats. No originality.

Tbf, Bitget team and community have done well so far. It won't get the kind of success of BNB but its commendable and much more success than Kucoin had with KCS or Bybit with their MNT token. Building an exchange in a space where binance and other exchanges have heavily dominated and then end up carving a spot for themselves near the top is commendable imo.

I'm saying this not as a fan of Bitget or a BGB token holder.

Well as a BGB holderit's my hope that one day, the token would outpace BNB In the near future but I agree with you. At a point it hit ath & now it's trying to create another one.. with more utilities added, quarterly burn and even a potential blockchain, it could do great numbers ngl.

[$crypto$]

I hope you don't do shilling to promote BGB because some time ago many got caught because of shilling this token.

On the other hand if you are getting already huge profits then that's good what else are you doing moving on to futures trading? Keep in mind this has a big risk compared to spot which is good enough for beginners.

It is better that the opportunity to bitcoin in the future will be more meaningful.

[gunhell16]

That's the beauty of bitget, actually, when you have holdings of at least 10BGB so you can qualify for the airdrops they have in the future. That's one of the great advantages when we hold long-term, where as long as there is potential, we will definitely reap profit in the near future.

Actually, I'm also one of those who hold Bgb right now because there is no doubt that there is also potential in the coming months for us to gain in the future I guess,
and I hope I'm not wrong in my analysis here, honestly speaking.

[len01]

This incident has once again shown that spot trading can be the best option. Apart from having my portfolio increase, holding more than 10 BGB qualifies me to be a holder, and also join the exclusive community, and entitles me to BGB airdrops whenever events like this happen.

Now, tell me, do you think I would have gained such opportunities trading futures or other trades?

If you only hold 10 BGB, I'm not sure you'll qualify for the BGB airdrop. Because what I know is that airdrops like this will continue to increase the requirements that have been set such as for example you must hold 1000 BGB or maybe trade with a volume of more than $10k.

I however, think no other exchange token will replicate such success. Not Kucoin shares, Not OKB, not Phemex token, not BGB because the tokens that came in later were just copycats. No originality.

Perhaps that could happen if Bitget burns BGB tokens like Binance does with BNB. I read that Bitget burned some BGB tokens to reduce the total supply, which resulted in a slight price increase. If they continue to do so, it might happen, but not to the extent of BNB.

But I'm not a Bitget or BGB fans.

Source : Bitget
https://www.bitget.com
Bitget Updates BGB Burn With On-Chain Utility

[MAAManda]

Firstly, congrats on what you experienced, it must be one of the good experiences when you manage to hold a coin or token & then it gets pumped so high. Keep holding on if you have faith Bitget Token is still early & will go further.

Now, tell me, do you think I would have gained such opportunities trading futures or other trades?

Spot is the best way to trade IMO, because there's no risk there other than the token price dropping. In futures, you're likely to lose your money before your expectations come true. So, I don't think you will get the same opportunity if you go to futures (especially if you are someone who is new to the industry).

[DeathAngel]

Sounds like you did well but it could quite easily have gone the other way. I don’t trade with leverage, I don’t really actively trade either way. I’m a buy & hold long term kinda guy. I try to sell during bull markets & then buy back during bear markets. A cyclical four year movement. It’s worked for me so far but that’s the thing, we all have things that work for us individually, it doesn’t have to be the same tactic.

[Sim_card]

You are lucky on this because you're already in good profits for holding BGB. However, one disadvantages of this exchange tokens is that if the exchange crashes, the token crashes with them and all investors will run at lost. We saw this way back when Luna crashed. If you give more time to bitcoin investment that will be better.

[ndutndut]

Now, tell me, do you think I would have gained such opportunities trading futures or other trades?

Congratulations, my friend, for the best experience by getting multiple profits, I also felt the same thing when I first traded, namely getting profit from trading at that time I was still very new to trading, but I thought at that time I entered at the right time. But after that I failed, but slowly started to rise again after learning from experience and looking for as much information as possible. Trading on the spot is indeed better than futures trading which has a higher risk. Trading on the spot when it goes down we will not lose as long as it has not been sold, it's just that we have to look for altcoins that have good fundamentals even though the price is going down but can go up again. but you still have to be careful in investing in altcoins. Maybe in the short term it looks good but not for the long term.

If I had my advice, it would be better for you to stay in spot trading, don't try futures trading unless you already understand the market well. And maybe this is another suggestion that you need to consider, if you trade altcoins, remember that after making a profit, it is better to transfer the profit to btc assets because it is better for the long term.

[nelson4lov]

~Snipped

Well as a BGB holderit's my hope that one day, the token would outpace BNB In the near future but I agree with you. At a point it hit ath & now it's trying to create another one.. with more utilities added, quarterly burn and even a potential blockchain, it could do great numbers ngl.

That's farfetched imo. If BGB gets to 2nd position, that's a massive stretch but surpassing BNB is a very long shot. You also mentioned more utilities for BGB then went on to list things that are available on BNB by default including quarterly burns and a stand-alone chain aka BNBChain.

Surpassing Bnb won't work unless BGB gets super creative and incentivize their holders a lot and I don't see that happening.

[jaberwock]

Spot or Futures, it doesn't matter at all. What matters in trade is that on what position you're entering. As long as you're entering in the right price, you will always get profit.

You said that you get massive profit because you bought BGB at 1.2, and you can also get the same when you're also taking long at 1.2 too.

The only thing that i don't like in Spot is that you can't get profit when the price of BGB dumped, while i can still get some by shorting it. Spot or Future, it's all good, but i like Future a bit more because i can even get profit even during the dump.

I think it does. It is just that spot must be the beginning level of trading, so its risk is also minimal but futures is like the level 2 of it, so its risk is also a bit high. We need to pick accordingly depending on our experience. The next thing that you said there is already the mechanics of trading and I think anyone knows this already.

I think the OP's subject has nothing to do with being a spot trader but it is more of an investor thing. Not only that but he is like shilling the BGB token again like what other users have noticed. It's been a long time since I saw this first. They aren't done yet? How dedicated they are even though it seems they are successful already.