How to Buy More Dash Using Leverage
Before we talk about Dash leverage trading, let’s do a quick recap of what digital currency classification the Dash coin falls under.
DASH, otherwise known as digital cash, was created with the primary aim of offering digital money that’s better than cash, an area where Bitcoin BTC could not serve. DASH allows users to carry out secure, private transactions within a second, which costs less than a cent on the blockchain and masternodes.
You can start buying DASH by visiting the dash.org website and download their android or IOS app to get started. However, if you’re looking to trade/invest in the DASH digital currency, then you may want to do that on a leveraged account.
So what is Dash Leverage trading?
Okay, DASH leverage trading involves using borrowed money from a trusted crypto broker to boost the traders’ purchasing power of the DASH crypto in the perpetual futures contract.
As long as the trader can meet the minimum requirement by keeping his trade above the margin liquidation level, the trader stands a chance to earn more on the initial investment compared to an outright purchase.
Leverage on most crypto brokerage firms is offered from 5X to 50X. However, few brokers offer up to 150X leverage. We’ll get to that later.
A 5X leverage means you can trade as much as five times your capital when trading dash on a CFD crypto broker and a 150X leverage means you can trade up to 150 times of your starting capital.
The advantages of investing in Dash futures contracts over in the Dash coins
Here are a couple of advantages that you may consider when investing in DASH futures contracts.
Trading on Leverage
As mentioned earlier, DASH futures contracts open up an opportunity to scale up your position through the use of leverage. Again you can trade DASH on leverage from 5X and to 150X on some crypto brokerage firms.
No Private Key liability or technical Blockchain requirement
By trading the DASH coin futures contracts, the trader eliminates the need to store and secure DASH crypto private keys. This is a significant advantage as we know that crypto transactions are irreversible.
Speculate on both Long and Short Direction of the Dash Futures contracts
When buying the regular Dash coin, the trade only makes money if the DASH price increases in value against the USDT or any other stablecoin.
DASH futures contracts, however, allows traders to take a long position if they believe the Dash coin will appreciate against the USDT or take a short trade if they believe the Dash trade would slump in value into a bearish trend.
With that said, let’s move on to our recommend a crypto broker to trade Dash perpetual futures contract.
A brief guide on how to trade Dash with leverage on the BTCC which provides up to 150x leverage on Dash perpetual contracts.
Now that you understand the advantages of trading the DASH futures contracts let’s walk you through how to actualize your trade on the BTCC.com trade platform, a reputable crypto exchange that’s been around since the early crypto boom.
To get started, you’ll have to first sign up for a trading account on the BTCC website using your email address or phone number. After you get authenticated and make a deposit, the rest is a breeze. Note, BTCC accepts USDT deposit only currently!
Launch the BTCC Web-based Trading Platform
From the BTCC.com website, click on the trading platform link to launch the custom TradingView crypto futures trading platform.
Switch from Default BTCUSDT to DASHUSDT Perpetual Contracts
The DASHUSDT is offered as a perpetual contract on the BTCC.com trading platform. The next step is to switch from default BTCUSDT regular futures trading to perpetual futures trading, where you’ll find the DASHUSDT.
Place your First Trade on the DASHUSDT Perpetual Futures Contract
With your chart set to the DASHUSDT perpetual futures contract, you can go on to enter a trade using an instant buy/sell order or pending orders (buy stop, sell stop, buy limit, or sell limit).
Follow the five steps from the image below for your first trade of the DASHUSDT perpetual futures contract.
Switch the main chart window to the DASHUSDT perpetual crypto futures.
After setting the main chart window to DASHUSDT, you can then move on to step two to place a trade using market order, Limit order, or Stop Order, as shown above.
At step three, you can move on to choose leverage up to 150X for either a buy or sell order.
Use the toggle switch on step four to toggle on your stop loss and profit targets functions.
Finally, you can click the buy or sell order depending on your analyzed trend direction.
So there you have it. Following the above guide will set you on the right path to trading the DASHUSDT.
|Try your first DASH futures contracts trading on BTCC, and with $100 you’d be capable of trading up to $15,000 DASH.|