I just met someone who is trading options (1 minute). He doesn't know crypto. Later I will sell to him for 20 euro Bitcoin. Advice for him?
It started with my computer.
The bartender liked it and told his brother about it. Then the brother recognized Bitcoin which is available in his trading platform. He trades in the 1 minute mode and showed me how it works. He won 1.80 euro because he bet that the price of Bitcoin would go up. Later - in 2 hours - he will buy Bitcoin from me and I would like to get some insights from people who know both - options and cryptotrading. This thread is for him to get into cryptotrading.
Which platform is good? I just signed up to HitBTC and am already using Bittrex. Is there anything which comes close to his options trading experience? (I didn't look for the name of his platform but will update you later). I guess marging trading correct?
He plays with 1000 euro and lost one time around 50 euro and then stopped in order to learn everything about it first.
I am still waiting for a reliable platform in the arena of crypto option trading. I am aware of a few platforms such as deribit, coinut, and bitmex, however I dont feel comfortable pursuing them until I have more information. The most interesting platform coming out is Prism, same guys who made Shapeshift. Here is a nice little review of the platform - https://epicenter.tv/episode/190/
Awesome reply, quality must be rewarded!
I use gdax. It seems secure, and margin trading is available on it, though I don't do margin trading myself - too scary.
Thanks improv. I think that marging trading is the same like options but you can choose the time by yourself?
I'm not sure what that means. Margin trading is, essentially, you get to spend money you don't have, which means you can short things, i.e., you can sell btc you don't own, and buy it back if it goes lower. I wouldn't risk that myself, as, while I expect there to be some significant up and down over the next years and months, I'm sure that it'll go up in the long term, and the what-ifs of short term rollercoasters are too much for me to stomach, since funds are tight as is.
Thank you and all others again for participating in this post, cu later!
Upvoted by Emma
Thanks
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I also use Bittrex... good!
This post has received a 1.35 % upvote from @booster thanks to: @shla-rafia.
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