Crypto trading has changed over time. It’s no longer just about buying and selling cryptocurrencies. Now, one way people trade is through crypto futures, where they predict whether the price of a cryptocurrency will rise or fall in the future, all without actually owning the asset.
Crypto futures have recently been added to platforms like Bety crypto casino. Here is a breakdown of how they work, what the benefits and risks are, and answers to some common questions.
What Are Crypto Futures?
Crypto futures are contracts that let traders bet on the price of a cryptocurrency in the future. Unlike normal crypto trading, where you buy and sell real crypto, futures trading is all about predicting what the price will do. The goal is to make money from price changes.
Traders can bet that the price will go up (called going long) or that it will go down (called going short). If they guess right, they make a profit. If they guess wrong, they lose. One reason people like crypto futures is because they can use leverage, meaning they can control a large amount of crypto with less money.
Why Trade Crypto Futures?
Crypto futures trading offers some solid advantages. For one, it lets traders profit in both rising and falling markets, so there are opportunities no matter which way the market goes. It also provides a way to hedge other crypto holdings against market volatility.
Another perk is leverage. With leverage, traders can make larger trades with less capital, allowing them to potentially earn more from smaller investments. Of course, this also means higher risk if the market moves the other way.
How Crypto Futures Work on Bety
Crypto futures trading on Bety is structured to make the process easy to follow. The platform offers a clear and accessible interface, which helps both beginners and experienced traders navigate the process with more confidence.
- Step 1: Choose a cryptocurrency – Bety crypto casino supports multiple cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). The choice depends on personal strategy, market trends, and risk tolerance. To help with the decision, the platform offers real-time price charts, historical data, and technical indicators.
- Step 2: Predict the price movement – Once a cryptocurrency is chosen, users decide if they think the price will go up or down. The price of cryptocurrencies can be affected by many things like news and market trends. Bety makes it easy to place a trade with just a few clicks.
- Step 3: Take your profit – When the price goes the way the trader predicted, they can close the trade and make a profit. If the price doesn’t go as expected, they may need to cut their losses.
Key Features of Crypto Futures on Bety
Bety has a crypto futures trading platform built on blockchain technology and smart contracts, allowing traders to access up to 1,000x leverage. It is also equipped with stop-loss orders which help limit losses by automatically closing trades at a set price if the market moves in the wrong direction.
Traders can also use tools like Moving Averages, Bollinger Bands, and the Relative Strength Index (RSI) to spot trends and make better decisions. On top of that, there is a decent choice of popular cryptocurrencies such as BTC, ETH, BNB, DOGE, XRP, SOL, BCH, AVAX, and ADA.
Best Practices for Trading in Bety Crypto Casino
Here are some key tips for trading crypto futures on Bety or any other platform. One important habit to develop is using stop-loss (and take-profit, if available) orders. These tools automatically close trades at set points to prevent losses from getting too big, helping to protect your capital.
Starting with low leverage is another good practice. While leverage can amplify profits, it also increases risk. Beginners should ease in with smaller trades and gradually scale up as they gain experience.
It’s also a good idea to stay tuned to market trends. Keeping an eye on price movements and news can provide valuable insights into where the market might be headed. Finally, diversifying your trading strategies can help reduce risk, balancing out the inevitable ups and downs of the market.
Trading Fees at Bety Crypto Casino
Bety crypto casino does things differently when it comes to trading fees. Instead of charging a percentage every time a trade is opened or closed, it uses a Profit and Loss (PnL) model. This means fees only apply if there’s a profit, and even then, only a small portion is taken. Traders can move in and out of positions without worrying about extra deductions from their balance.
For those who prefer a set cost upfront, there’s also a flat fee option. This lets users prepay a fixed fee before entering a trade, covering entry, exit, and any potential slippage, similar to how traditional exchanges handle fees. The flat fee is based on a percentage of the total position size, which depends on the wager amount and chosen multiplier.
To help traders plan their moves, Bety offers an ROI Calculator. It gives a quick estimate of potential profits and fees before a trade is placed, making it easier to make informed decisions.
Risks of Crypto Futures Trading
Crypto futures trading offers the potential for big profits, but it comes with significant risks. One of the biggest is leverage: it can amplify both gains and losses. Since cryptocurrency prices can swing wildly and without warning, predicting market movements is a challenge.
FAQs
Crypto futures trading can be complex, especially for those new to it. Here are answers to some common questions to help traders understand how it works on Bety crypto casino.
What leverage is available?
Leverage in Bety’s crypto futures trading can go up to 1,000x.
Is futures trading beginner-friendly?
It can be, but starting with small trades and low leverage is the best approach for beginners. It’s important to learn how the market works and get a feel for the risks before jumping into larger trades.
Is trading secure on Bety?
Yes, trading futures on Bety appears to be secure. Bety utilizes blockchain technology, which ensures fairness, transparency, and security in its transactions.
