How does the 3x short bitcoin token work?

1 answers

• Jan 14, 2022 · 3 years ago
  At BYDFi, we offer the 3x short bitcoin token as a way for traders to hedge their positions or profit from a decline in the price of bitcoin. The token is designed to provide three times the inverse daily performance of bitcoin. This means that if the price of bitcoin goes down by 1%, the value of the 3x short bitcoin token would increase by 3%. It's important to note that the token is designed for short-term trading and may not accurately track the inverse performance of bitcoin over longer periods of time. Traders should carefully consider their investment objectives and risk tolerance before trading the 3x short bitcoin token.
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