Are you curious to know about Selling Short on Binance????
What is Short Selling?*
Short selling is a trading strategy that involves selling an asset you don't own, with the expectation of buying it back later at a lower price.
*How to Sell Short on Binance*
1. *Enable Margin Trading*: Go to sell $XRP /$ETH or choose the coin pair you want to trade. navigate to the "Margin" tab, and enable margin trading.
2. *Choose a Trading Pair*: Select the trading pair you want to short sell, e.g., $BTC /.
3. *Borrow the Asset*: Borrow the asset you want to short sell from Binance's margin lending platform.
4. *Sell the Asset*: Sell the borrowed asset at the current market price.
5. *Buy Back the Asset*: Buy back the asset at a lower price to cover your short position.
6. *Return the Borrowed Asset*: Return the borrowed asset to Binance's margin lending platform.
*Important Notes*
1. *Margin Trading Risks*: Margin trading carries significant risks, including liquidation and losses.
2. *Interest Fees*: You'll be charged interest fees on the borrowed asset.
3. *Liquidation Price*: If the market price reaches the liquidation price, your position will be automatically closed.
*Binance Short Selling Fees*
1. *Borrowing Fee*: 0.01% - 0.05% per day
2. *Interest Fee*: 0.01% - 0.05% per day
3. *Trading Fee*: 0.1% - 0.02% per trade
I would highly encourage you to start your trade(buy/sell coins) from my post, simply hitting here. →
If you want a trade plan of your desired coin, write it in the comments below. I will post its trade strategy .
for more updates and advice,follow me
