When you’re expecting cryptocurrency prices to go down (especially in bear markets), we can use short selling — pretty much betting that the price of a certain coin/token will go down, to potentially make money.
Can you short sell on Gate.io? 🤔
Yes. In 2020, Gate.io finally released short-selling functionality on its platform; also with leverage available. You can see their announcement here.
How to short sell on Gate.io ✨
- Login to your Gate.io account
- On the top bar, hover on Trade, then hover on Spot Trading, then click on Professional
- On the top left beside the Gate.io logo, click on Margin
- On the bottom right under Submit Order, click on Sell
- Type in the price you want to short at
- Using the slider bar, select the amount of leverage you want to use
- Click on the Sell button
You now have made a short trade position!
is Gate.io safe and secure? 🧐
The Gate.io team seems to be doing a pretty good job in keeping the platform secure. But regardless, while Gate.io seems to be a great platform to buy and sell certain cryptocurrencies, we always recommend using a hardware wallet for holding coins and tokens for the long term.
Final Thoughts 🗒
Trading or investing in cryptocurrencies is excellent and all that, but always make sure your funds are secure. We always recommend using a nice hardware wallet like a Ledger to achieve this.
