Triple Your Money with 3X BULL or BEAR Tokens!

in LeoFinance2 months ago

Before going to the main topic, I request every newbie trader that - don't just invest your money in the stock or crypto market, just because anyone told you. Do your own analysis. Don't follow the trend - he is buying it, you should buy it too! And yeah be aware! As like everyone, this is not financial advice. 😉 Do your own research before investing in any coin.

Just a week ago, one of my friends suggested I should invest some bucks on XRPBULL. I am already holding XRP for a long time. And yeah, if you checked my previous articles, you'll know I did some analysis on XRP. Investing in XRP is risky as Ripple is fighting with the US security and exchange commission(SEC) at this moment. But I am hoping that if Ripple wins the lawsuit, the impact will be huge.

So, I already have some emotion attached with XRP (Emotion doesn't work on trading, though). When my friend suggested taking the long position on the 3x Long XRP Token (XRPBULL), I was like, owww, I should go for it. Again, don't do this at home! I mean in the crypto market!

But, I made the mistake! Or maybe not! I just bought it without even knowing WHAT THE HELL IS 3X TOKEN!

I took the risk because I had some additional money to invest in the market. And I saw the all-time Low of the XRPBULL coin was $0.308855, and I bought it at $0.53. And the all-time high price was $414.89, which is enormous! So as like all the newbies, I fall into the trap of greediness.

People analyze investing, and I did after investing! Lol!
So let me share what I learned about 3x Token.

3X or Leveraged Token? What's that?

If you are already a trader, you already know what's leverage. Leverage in the stock/crypto market is the buying power that you get from your broker as a loan. You often see various leverage types like 1:10, 1:50 in different broker's benefit window.

If you select 1:10 leverage and invest $50, you will get the power to trade for $500 ($50 x Levera 1:10). That means the rest of the $450 bucks is the money that you are getting from your broker as leverage to make some high trades. I am actaully not a regular trader but made some trade in the forex market. So, I believe you can understand what I am trying to say.

Leveraged tokens are high-risk products that:
• Can gain or lose large amounts of their value in a day
• Will perform differently than regular leveraged exposure
• Will likely not sustain their target leverage long-term

While leveraged tokens can be helpful tools for traders, it is not recommended to hold these assets long-term. Use caution when trading these assets and only trade them if you understand how they work... - That's what I found while trading XRPBULL on poloniex


Coinmarketcap

Now, let's jump to our topic. In the crypto market, every major coin has two sons! Lol, you heard it right!

Assume that Bitcoin, Ripple, Ethereum, BNB are the fathers, and everyone has two sons or two types of 3X tokens - Bull and Bear... ;)
For XRP - XRPBULL and XRPBEAR
For BNB - BNBBULL and BNBBEAR

So, a 3X token is the token, giving you 3x profit(Or loss) on your investment. Suppose you bought $100 worth of XRPBULL. If XRP price is up by 10%, you'll earn 30% because of 3X leverage. On the other hand, if the XRP price is down by 10%, you'll lose 30%. Your $100 will come down to $70. And you know BEAR is just do the opposite of BULL.

Let's see another simple explanation. If you invest in BNBBEAR, for every 1% change in the BNB coin, your equity on BNBBEAR will change 3%. If the BNB coin goes down by 1%, on BNBBEAR you'll earn 3%. If the BNB coin goes up by 1%, on BNBBEAR you'll lose 3%.

Bull tokens do best when the price goes up, obviously.
And Bear tokens do best when the price goes down.

I hope I was able to give some ideas about 3X Bull and Bear tokens. If you want a high return on your investment, investing in 3X tokens like XRPBULL/XRPBEAR, ETHBULL/ETHBEAR, BNBBULL/BNBBEAR, etc. will be great. But do not forget that the opposite of high return is - HIGH RISK.

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This is a good explanation of leverage ... I've been doing these kinds of explanations for a lot of people new to the space, but this one was exceptional!

Thanks a lot, dear. Appreciate your kind words. :D