I have an account with Bybit. At first, I used a VPN I set up in Mexico to create and use an account as US users aren't allowed on the platform. But, my friend's wife helped me setup a corporation in Mexico that allowed me to create a corporate account and get verified. Before using Bybit, I used either KuCoin and Coinex. I only use a VPN on my mobile and use the program Tealstreet to trade with the Bybit API.
Shorting a crypto is basically borrowing the crypto from the exchange, selling at the high price, and buying it back at a lower price, The difference in price is your profit. With leverage, you can really multiply your profit. Warning, it's dangerous though. If you don't know what you're doing, especially using high leverage, you can get liquidated i.e. all your money gone.
I actually have three subaccounts.
One is with an automatic signal service that uses Cornix to place and close trades for me automatically. Only gripe I have about the service is they don't issue a lot of short trades when the market is in the red.
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LAST MONTH RESULTS ($Peak Profit)
High Leverage Channel
#APE/USDT — 78%
#TRB/USDT — 72%
#KNC/USDT — 120%
#AVAX/USDT — -13%
#COMP/USDT — 108%
#KAVA/USDT — 40%
#RLC/USDT — -110%
#SUSHI/USDT — 54%
#ENS/USDT — 54%
#YFI/USDT — 13%
#LTC/USDT — 35%
#BCH/USDT — OPEN
Low Leverage Channel
#GMT/USDT — 41%
#GAL/USDT — 135%
#CHR/USDT — 14%
#SPELL/USDT — 10%
#RVN/USDT — 140%
#HNT/USDT — 36%
#CVC/USDT — -28%
#REEF/USDT — 45%
#CHZ/USDT — -9%
#KNC/USDT — 25%
#CHZ/USDT — 50%
#AR/USDT — 72%
#KSM/USDT — -28%
#XLM/USDT — 43%
#PEOPLE/USDT — 104%
#CHR/USDT — 36%
#DYDX/USDT — 40%
#HNT/USDT — 90%
#LIT/USDT — 138%
#BAKE/USDT — 30%
#RUNE/USDT — 62%
#CVX/USDT — 64.5%
#REN/USDT — 8%
#COTI/USDT — MANY MEMBERS EXIT AT BREAKEVEN (-50%)
#LINK/USDT — 15%
#RSR/USDT — 63%
#COMP/USDT — -112%
#ADA/USDT — 65%
#STG/USDT — 69%
#VET/USDT — 15%
#EGLD/USDT — 60%
#OP/USDT — 35%
#SNX/USDT — 115%
#GTC/USDT — 35%
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Total Profit/Loss: +1879.5
Accuracy: 46 Trades / 39 Successful / 7 Loss = 85%
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Another is connected to a Freqtrade spot (non-leveraged) bot that I test strategies on.
The last is the one I do swing trades with. I rarely use more than 1% of my total fund amount per trade. The market has to really be going to shyt for me to use a large amount for margin.
