How can you short cryptocurrencies?

1 answers

• Dec 22, 2021 · 3 years ago
  Shorting cryptocurrencies can be done on platforms like BYDFi, where you can borrow the desired cryptocurrency and sell it on the market. If the price of the cryptocurrency drops, you can buy it back at a lower price and return it to the lender, making a profit. However, if the price goes up, you will incur losses. It's important to carefully analyze the market and use proper risk management strategies when shorting cryptocurrencies on any platform.
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