Spotlight on Huobi : How to trade on margin in the digital assets on Huobi (50%-50% For 200% PowerUp)

in Steem Bangladesh • 4 years ago


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☞ What is Margin Trading?

With margin trading, you add leverage to trade with money borrowed from your broker. This can generate a greater return but it also means you trade at a higher risk.


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☞ How does Margin Trading work?

For instance, you think Bitcoin is going up in the next few days and you have a lot of faith in it. You can buy Bitcoin with USDT and wait for the price to go up and when it reaches your target you sell Bitcoin and exchange it back into USDT. This is a regular trade. With margin trading, you increase the amount you trade with by leveraging it. You can make the trade to exchange USDT to buy Bitcoin because you believe the price goes up, you go long (when you think the price will go down you go short). Now you can choose to add leverage, the maximum you can add is 3x, so for instance, if you add 1x leverage, you take out a loan to ensure that you can pay my leverage if the trade goes the wrong way. The loan insures the currency exchange can liquidate a trade account. If the trade made a 100% profit before it was closed, with the 1x leverage it means you get another 100% profit. If the trade has a 100% loss, it means the loss is also doubled.

☞ How to do Margin Trading on Huobi Pro?

To start margin trading on Huobi Pro you will need to transfer funds from your exchange account to your margin account. To do this, go to the margin trading tab after you logged in to your Huobi account. Then go to the trading pair you want to trade. Go to “transfer in” and add the number of tokens you want to margin trade. The screen will look like this.


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To transfer the margin funds out and back into your exchange account just click on the exchange button and you can transfer from your Margin Account to your exchange account.

Now when you go to your margin account balance (click on the tab loan in your account, below the tab balances, top right on the website, and accept the terms) you will see your margin account balances.


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When you click on the loan tab at the end of the line ELA/BTC in the picture above, you can apply for a loan for your margin account.

Notes

  • Loans must be paid back in the currency they are loaned in. The repay amount = loaned amount + interest. You can replay the loan in full at once or you can repay the loan in multiple installments. When you pay back in installments you’ll pay back the interest first and then the base loan.

  • The daily loan rate is 0.1% for USDT. When you take out a loan of other currencies the rate is 0.02%. You start to pay interest from the moment you take out the loan. 1 unit is considered a time span of 24-hours. You can short it or go long.

  • Caution when margin trading, things can go south very fast because of the leveraged trades, only trade what you are willing to lose! Never put in more money than you can afford to lose.

Resources:

☞https://medium.com/@LindaWillemse/margin-trading-cryptocurrency-on-huobi-pro-80a8975cb7d
☞https://blog.hbg.com/how-to-trade-on-margin-in-the-digital-assets/

N.B: There is risk involved in trading, mining, lending, and investing in cryptocurrency. I do not take any responsibility for any losses that may occur. I do not give financial advice. This post and opinion are for informational and entertainment purposes only. The post is made following the instructions of LindaWillemse. Proper resources are mentioned.


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@steemcurator01
@steemcurator02

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4 years ago in Steem Bangladesh by
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     4 years ago 


    Polish_20201009_015638739.jpg

    Hi your post has been upvoted by @steem-bangladesh courtesy of @tarpan

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       4 years ago 

      (50%-50% For 200% PowerUp)

      I am curious to know, is there any option like 200% power up in Steem?

      By the way, margin trading is risky, and those who develop a better understanding of risk management & better TA, should go with margin trading. For a beginner, it is always good to stick with spot trading. However, for professional traders, it is always a good choice.

      Thank you.

      #onepercent #india #affable

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         4 years ago 

        You have been upvoted by @toufiq777 A Country Representative from BANGLADESH we are voting with the Steemit Community Curator @steemcurator07 account to support the newcomers coming into steemit.

        Follow @steemitblog for the latest update. You can also check out this link which provides the name of the existing community according to specialized subject

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           4 years ago 

          Thank you for taking part in the Spotlight on Huobi Challenge.

          Keep following @steemitblog for the latest updates.

          The Steemit Team

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             4 years ago 

            Hi,

            Your post has been voted on by the Ecosynthesizer curation team.

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