It’s kind of shocking how unaware most crypto investors are of this, but you can make money off the falling price of Bitcoin.
If you know what you’re doing, you can make a LOT of money when prices fall in a very short period of time.
Want to know how to make these numbers as well? Get yourself a coffee, because it’ll be your life changing read on making money when the Bitcoin price falls.
Thousands of people stumbled into cryptocurrencies before it’s parabolic rise at the end of 2017, and some even sold near the all-time highs.
Furthermore, a very small number of investors had the wherewithal and experience to short (bet against) the market.
While a majority saw their bags plummet, a handful of pros made some serious gains on both the bull run of 2017 and the 2018 bear market.
Looking at the gains of top traders on the platform we will cover in this guide – it is mind-boggling, to say the least:
For those who are unaware, the profits in the image above are listed in XBT, which is equivalent to BTC… That means Heavy-Autumn-Wolf is sitting at $22,411,268.65 in Profit at the time of writing.
While these results clearly aren’t the norm, the fact remains that you have access to the same set of tools, and could continue building your portfolio if those tools are used correctly.
Simple exchanges like Coinbase offer a simplified user interface and an easy-to-execute process. ‘Intermediate’ exchanges, like Binance, offer more cryptocurrencies.
Advanced exchanges like BitMEX typically attract more professional traders due to the array of advanced features they offer, like short positions and leverage. This article will show you how to bet against the Bitcoin with BitMEX, but before we dive in, it’s important to understand 2 things.
Firstly, since we’re dealing with advanced financial investment features, it’s very important to understand the risks involved with advanced exchanges. If you’re unsure about something, take a step back and ‘go to school’ until you’re confident you understand what you’re doing.
Secondly, BitMEX isn’t available in the United States, so you might want to consider using a VPN.
Where Whales Make Money – Let’s Sign Up for BitMEX
BitMEX makes it extremely easy to sign up for their exchange.
Using any link to Bitmex in this article will save you 10% on trading fees for 6 months 🙂 That’s a lot and we will tell you why in a second.
To make the process as simple as possible, sign up for BitMEX now, before reading the rest of this article, so you can follow along.
First, go the BitMEX registration page, where you’ll be prompted with the following form:
Enter an email address, create a secure password (short sentences with numbers and special characters work great) select your country of residence, then enter your first and last name.
Accept the Terms of Service, then click the Register button. You should receive a confirmation with further instructions, which looks like this:
You’ll be directed to a verification screen, which will direct you to your email inbox. Log into your email inbox and wait for your confirmation email, which looks like this:
Click the blue Verify My Email button and you’ll be redirected to a confirmation page, which will then redirect you to the main BitMEX trading page.
How To Make Your First Profitable Trade on BitMEX
Now that you have your account, it’s time to learn what you can do with it. Trading strategies are typically honed over many years of trial and error, and it’s common to see new and intermediate traders practice with paper trading before introducing emotion with live trading.
With that in mind, if the price of Bitcoin falls, here’s what you need to do to make your first profits.
1. Funding Your Account
First, you’ll need to deposit Bitcoin into your account.
Go to the account tab (1), click deposit in the menu on the left-hand side (2), and your exchange wallet address will be generated (3).