How can I short sell on Poloniex?

3 answers

• Dec 27, 2021 · 3 years ago
  Sure! Short selling on Poloniex involves borrowing a cryptocurrency and selling it on the market, with the intention of buying it back at a lower price in the future. Here's a step-by-step guide: 1. Log in to your Poloniex account or create a new one if you don't have an account yet. 2. Deposit the cryptocurrency you want to short sell into your Poloniex account. 3. Go to the 'Exchange' section and select the trading pair for the cryptocurrency you want to short sell. 4. Choose the 'Margin Trading' option. 5. Select the amount of cryptocurrency you want to borrow for short selling. 6. Place a sell order for the borrowed cryptocurrency at the desired price. 7. Monitor the market and wait for the price to drop. 8. Once the price drops, buy back the borrowed cryptocurrency at a lower price. 9. Return the borrowed cryptocurrency to complete the short selling process. Please note that short selling involves risks and it's important to do thorough research and consider your risk tolerance before engaging in this strategy.
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• Dec 27, 2021 · 3 years ago
  Short selling on Poloniex can be a profitable strategy if done correctly. However, it's important to understand the risks involved. Here's a step-by-step guide on how to short sell on Poloniex: 1. Open a Poloniex account if you don't have one already. 2. Deposit the cryptocurrency you want to short sell into your Poloniex account. 3. Navigate to the 'Margin Trading' section. 4. Select the trading pair for the cryptocurrency you want to short sell. 5. Choose the amount of cryptocurrency you want to borrow for short selling. 6. Place a sell order at the desired price. 7. Monitor the market closely and be ready to buy back the cryptocurrency at a lower price. 8. Once the price drops, buy back the cryptocurrency and return it to complete the short selling process. Remember to always do your own research and consider the risks before engaging in short selling.
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• Dec 27, 2021 · 3 years ago
  Short selling on Poloniex is a popular strategy among traders. However, please note that I am currently working at BYDFi, a digital currency exchange, and I am not able to provide specific information about short selling on Poloniex. I recommend visiting the Poloniex website or contacting their customer support for detailed instructions on how to short sell on their platform. Short selling can be a complex strategy, so it's important to fully understand the risks involved before getting started.
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