So you stepped into BTC and bought it and then the bottom fell out.....what to do....you could sell and go to cash or sell and go to USDT (US dollar tethered - sort of like cash but better as it's worth more than a dollar)
So what if instead of panicking and selling you could have hedged or better yet made money on the downside? Well I've been battling with this issue for a while....at first I could hide out in the alt coins and when BTC goes down they tend to either go sideways or better yet up. That worked a while till it didn't.
Everywhere I tried to get margin to short BTC I was told you live in the United States so unless I wanted to lie or essentially VPN in as I'm from somewhere else in the world my options were very limited. Then I found this site here ---->
https:/www.magnr.com/?r=134055
The site isn't much to speak about but allows you to save BTC's and earn interest, not just loan them like on other sites but save them so they are yours anytime you want them....and earns interest currently at 1.28% which isn't going to make you rich but at least they are not just sitting in a wallet earning nothing. The best part about the site is the reason I'm hear telling you about it is that you can short BTC with margin of 10:1 or 5:1.
You can short all based on how much you have in your margin account. If you're outside the US you can probably do this with Bittrex but not here in the states.
In any event I now feel like I can control my own destiny when I see the charts looking a little toppy and while I don't want to sell my core holdings in BTC, I do like to trade and this allows me to trade up and long or go short and protect or even make money on the downside if I want.
If you found this of interest great, I run a channel over on telegram called Trading Cryptos. We are all discussing trading and I give my tips of the trade and everyone participates as adults and offers advice on everything related to cryptos even though sometimes I do ramble on about other investing opportunities as well. Free to join.....come on over.