Margin Trading Interest Free Loans on the Bitshares DEX
In this video I show you how I use my collateral in Bitshares to then borrow Chinese Yuan (CNY). Then I use my newly borrowed CNY to then buy more Bitshares (BTS). Effectively its just like a bank except unlike a bank there is no interest to pay and the fees are approximately .01 per transaction. That is the beauty of the Bitshares. It allows you to create your own bank and lend yourself money against your own collateral. Similar to a line of credit against the equity in your home. Get a bitshares wallet today http://wallet.gobitshares.com
Excellent tutorial on one of DEX's best features! Thank you and well done!
Thanks mate :)
Great explanation of this process. The exchange is not very intuitive in the UI so it seems like it will be catering to advanced traders for now but once you get the hang of it, it really provides the best margin trading experience of all the exchanges. The no interest/collateral system and the ease of updating your position as well as the minimal fees make this exchange a level above any I have ever used. I have been using it for a week and I was suprised to discover that so far my total fees for all my trades are <$0.07. I really hope more liquidity flows into this exchange which is what it needs to become my go to exchange for all cryptocurrency.
Before learning Bitshares DEX, I hadn't done any trading before. It took me some time, but now I'm confident in my trading strategy. I've really been enjoying trading with Bitshares and I have been successful in the majority of my trades.
Same :)
I think the liquidity is coming.
I have used the margin trading to borrow USD. I haven't used it to borrow other currencies yet, but I probably will.
Why did you decide on CNY? Is it because the trading volume for CNY is highest?
I am trying CNY, USD and even EUR. No real reason. Just following some of the bigger traders and trying to do what they do.
Im on my desktop bitshares dex that I downloaded. I want to short BITCOIN. My screens look nthing like your vid