As cryptocurrencies are evolving into a form of digital assets and exhibit more parallels with the fluctuations of the US stock market, purchasing is becoming a part of investment portfolios.
As we know, investing is all about making money, and the main way to do that is by taking advantage of price differences. Experienced traders adopt different strategies across various market scenarios to try and make the most profit:
Buy spot when the overall market trend is on the rise.
Short futures contracts when the market is in a downtrend.
So, no matter if it's a bullish or bearish market, you can still rake in profits through trading. Our goal at BingX is to ensure that trading is made easy and accessible for all. Whether you're dealing with spot or derivatives, it's all about investing. Remember, trading isn't about simply accumulating cryptos; in a downward market, holding onto cryptos can lead to losses. Just like stocks, many lesser-known cryptos face dwindling liquidity and the risk of hitting rock bottom during a bear market.
Investing in cryptocurrencies on BingX is fairly easy. It not only offers lower fees than other exchanges such as trading fees and handling fees, but also provides futures copy trading and spot copy trading, allowing users to invest in without requiring any complex trading knowledge.
3. How to Deposit After Signing Up
In BingX, the cost of on-chain deposits is much lower than the cost of direct transactions using credit cards. This is because credit card transactions require traditional banks and payment channels with high fees. On-chain deposits only require payment for blockchain processing fees.
For example, when depositing USDT via the TRC-20 protocol, no matter how large the amount, the fee for each deposit is just 1 USD, which is highly affordable. In addition, BingX also supports POLY, BEP, ERC and other networks.
4. How to Buy Spot or Derivatives
The biggest difference between spot and derivatives lies in this: spot BTC can be stored in your wallet and entails capitalizing on buying low and selling high; derivatives are contracts without physical ownership, and what you earn is the price discrepancy between buying and selling of contracts.
BingX offers two ways to buy spot
1. Buy directly on the spot market.
2. Use BingX P2P for direct peer-to-peer transactions with other users.
BingX offers two main ways to buy derivatives
1. Buy derivatives in the USDT-M futures market.
2. Buy derivatives in the Coin-M futures market with ETH, SHIB and more hot cryptos