With Bitcoin holding its ground above $ 50,000, more investors are drawn into trading crypto assets in hopes of increasing their wealth. Futures trading, a mature tool that has the potential to make multiple investments, naturally becomes one of the most sought after ways.
Tim Leung, a recent graduate, discovered the potential of Bitcoin as early as January 2020 and took a leap of faith.
“People around me had been talking about cryptocurrencies for a while already in 2017, but I really didn’t understand it and thought it was just a joke. Then came the big rally, bringing Bitcoin to almost $ 20,000. Almost all of my friends make money from it and of course I regretted not investing in Bitcoin sooner. But as we all know, the rally only lasted so long and not everyone was smart enough to start at the right time. So the little ones were crushed and many of my friends vowed never to touch Bitcoin again. “
While many people lost faith during the nosedive, some discovered ways to earn money. Leung is one of them. “A lot of people fear volatility, but I was like ‘why not take advantage of it?’, So I searched the internet and found a place where I could sell Bitcoin. And I managed to convert my $ 2,000, with the 100% exchange bonus I used, into a full Bitcoin.
Leung’s destination was Bexplus. Bexplus is a licensed crypto exchange that offers 100x leverage on various trading pairs. It is accessible in 37 countries, including the US and Japan.
“What I appreciated the most was the demo account. I learned to trade CFDs (Contracts For Difference) from scratch and tried different strategies. Practicing with the demo account certainly gave me confidence and I was much calmer when I opened my first real-time trade. The staff were very helpful, providing me with trading tips and educational materials.
When it comes to spot trading and futures trading, Leung shares that he prefers the latter as it is more flexible. “You can make money no matter which way Bitcoin goes, whereas with holding you can only pray that the price keeps going up, and it could take months.”
“Sometimes I win, sometimes I lose. I trade Bitcoin less often now, but I still make money by depositing to the Bexplus wallet at an annual rate of up to 21%, ”shares Leung. “I am very confident in the future of Bitcoin, especially at a time when governments are keeping money printing machines going. If you want to diversify your portfolio and protect yourself from inflation, Bitcoin is definitely worth considering.
Leung cautions that while trading on leverage can increase your exposure and profit potential, it also increases the risks of losing money. Therefore, it is very important to use stop-loss functions or choose an exchange with a full-featured application to keep track of the market and its positions.