Cryptocurrency trading with leverage is akin to illegal gambling, according to Korean police
The Korean police yesterday announced an investigation against the exchange Coinone about the leverage it offers to its customers.
The Cybercrime Investigation Unit believes that leveraging amounts to offering illegal gambling services.
(Leverage allows you to multiply your gains or losses when you trade)
After months of investigation, the Korean police estimates that 19,000 users use leverage including 20 traders with particularly high trading volumes.
This is an opportunity to make a small point on leveraged trading for those who feel the soul of a trader.
On cryptojournal we recommend instead to buy and keep your cryptocurrency for future purchases of goods once they have appreciated.
Trading is an activity more complicated than it seems. 95% of amateur traders lose money on forex for example (a market moreover much less volatile on that of cryptocurrencies).
We explain some virtues of the good trader:
-Leverage.
But again, prefer to be quiet “holders” and watch out for leverage. Leverage = Margin calls that, in the absence of sufficient funds on your account, will make you lose all of your capital … This will never happen if you just keep the private keys of your cryptocurrency in your walllet staff.
You can not imagine the upside potential of Bitcoin and other cryptocurrencies in case of implosion of the global monetary system. No need to waste time doing active trading. Use this time instead to perfect your knowledge of the currency 😉
You can start with this article containing links to other equally educational articles: Bitcoin, the nemesis of the banking system.
Published at Sun, 15 Sep 2019 16:11:39 +0000
Bitcoin Pic Of The Moment
✅ This image from Marco Verch (trendingtopics) is available under Creative Commons 2.0. Please link to the original photo and the license. 📝 License for use outside of the Creative Commons is available by request.
By trendingtopics on 2019-03-25 05:30:16
