So, I forgot to mention the other day that THE FED’s hinted at an increase on the interest rate possible next year.
This implies that the US economy, in their view, is stabilizing and statements like such tend to move the market one way or the other.
Which way is far beyond the scope of this post but can be labeled for your homework.
As a hint, the aforementioned post was discussing Bitcoin’s recent price decline.
To further this discussion just a bit, I want to talk a little about Coinbase.
Now, normally, I love promoting affiliates like Coinbase. I’m still trying to procure a better partnership with them that will benefit is all but to no avail, yet.
So, if you have not joined yet, you can go here and if you deposit or trade $100 worth of crypto, you will receive $10 extra in Bitcoin.
So, Coinbase has at least 3 main apps: Coinbase Wallet which, is their quite expensive Dapp, Coinbase, the app that pays you crypto to watch short videos and learn about crypto protocols, and Coinbase Pro.
The Pro version allows trading crypto pairs synonymous to Forex trading. So, one can buy or sell BTC/USD.
I do not have an affiliate link for Coinbase Pro and that deeply saddens me but for the sake of maintaining value as a content creator, I will share some information.
Now, if your heart is filled with the same amount of depression as mine and you yearn to support my site, you can always donate from the widget on the front page, send a BAT tip using Brave browser, or just like or share any post on any social network.
Marketing ploy and pity seeking aside, I digress.
A quick, sort of, overview of market requirements: When trading stocks, unless one was to utilize the highly risky derivatives like options, one must have at minimum, per SEC regulations, $2,000 USD, to short sell.
Short selling requires that one initially borrow shares of stock and buy them back later, hopefully at a cheaper price, plus an added few and keep any profit.
Maintaining $2,000 may seem burdensome but to keep positive spirits in abundance, this is not such a horrible idea.
With less than a couple grand in a trading account and probably a small knowledge base of market behavior, this requirement protects against an inevitable margin call, given one’s bias is incorrect and market moves strongly in opposite direction.
One of the “advantages”, if you will, of Forex trading is not having this requirement, in addition to leverage.
This is, of course, the proverbial “double-edged sword.”
Behaving similar to Forex, trading crypto forgoes minimum required balance, as well.
Hence, finally, the point to this post.
Not only am I not a financial advisor, I probably have a few character flaws so, I wouldn’t follow anything I’m doing at least, without further research.
But you should know, if you enjoy all things crypto AND churning a profit, you can transfer directly from Coinbase with no fee to Coinbase Pro and sell BTC/USD, if you so desire.
I have not done enough analysis to have any sort of clue as how this all unfolds but I put in a sell order just the other day, mainly because I had not tried Coinbase Pro and was curious.
I had to convert some crypto to BTC and then send from Coinbase app but transaction was quite swift.
Now, although I have been studying crypto pretty heavily lately, like I said earlier, I’m not sure how long I will hold this position or if I will add to it or not but I do love trading, love learning, and love sharing things I’ve learned with anyone genuinely interested so, there you go. \m/
Oh ya,