With bitcoin seemingly on another parabolic move towards its previous high of nearly 20,000 USD per coin interest is again exploding in the cryptocurrency and blockchain markets. Related businesses and crypto related services has been on a tear this summer. One of the largest sectors experiencing this growth is the bitcoin futures of derivatives markets. These formerly wild west type markets experienced exponential growth in 2018 / 2019 due to the large fluctuations in the price of the underlying crypto assets. Traders tired of forex markets with small price movements have largely turned to crypto markets with 20% moves being commonplace.
But which of these futures markets can you trust? Let’s face it, most of them are gambling houses or bucketshops incorporated somewhere in the Caribbean. It’s really a mine field as some will happily accept US traders but these days the majority will not. Hacks on these websites are also not uncommon so you need to really do your research before trusting them with your precious bitcoin.
Personally I consider trading crypto akin to gambling. In fact it’s not a whole lot different than playing online poker, and incorporates many of the same skills. Recently a website popped up on my radar which attempts to declutter the space with honest reviews of the best and most trusted platforms. The Crypto Shill reviews dozens of the top crypto futures markets, bitcoin casinos, and even oldskool bitcoin dice games. They have a simple Pros / Cons section for each review, and US folks can quickly drill down on the available services on offer.
Speculating on the price of bitcoin can be incredibly profitable especially when you deploy leverage, same as in forex. The good news is almost all brokers offer you up to 100x instantly. Some like Bybit are even giving you free crypto to try their platform. For crypto futures markets, like speculating on the price of bitcoin, Ethereum, or other alt coins, these are my top choices:
– Deribit Review
– Bybit Review
– PrimeXBT Review
Also, if you’re going to be doing any trading with crypto you’ll need a proper charting setup. For that I highly recommend TradingView of a tool like CryptoWatch which allows for multiple charts (9) in one browser. Definitely part of my daily driver. Good luck!
Be the first to comment