Business Basics Exam > Business Basics Videos > Cryptocurrency Fundamentals: Buy, Sell and Trade Cryptocurrency > Bitfinex Review - How I make money lending ethereum and margin trading monero
Bitfinex Review - How I make money lending ethereum and margin trading monero Video Lecture | Cryptocurrency Fundamentals: Buy, Sell and Trade Cryptocurrency - Business Basics
FAQs on Bitfinex Review - How I make money lending ethereum and margin trading monero Video Lecture - Cryptocurrency Fundamentals: Buy, Sell and Trade Cryptocurrency - Business Basics
| 1. How can I make money by lending Ethereum on Bitfinex? |  |
Ans. To make money by lending Ethereum on Bitfinex, you can participate in their lending program. By lending your Ethereum to other traders on the platform, you can earn interest on your loaned funds. The interest rate is determined by the supply and demand dynamics of the lending market, and you have the flexibility to set your own lending terms.
| 2. Can I margin trade Monero on Bitfinex? | |
Ans. Yes, you can margin trade Monero on Bitfinex. Margin trading allows you to borrow funds to trade Monero with leverage, amplifying your potential profits. However, it's important to note that margin trading also increases your risk, as losses can be magnified. Make sure to thoroughly understand the risks involved and use proper risk management strategies when engaging in margin trading.
| 3. How do I participate in margin trading on Bitfinex? | |
Ans. To participate in margin trading on Bitfinex, you need to have a verified account and sufficient funds in your margin wallet. You can then select the Monero trading pair you want to trade and choose the amount of leverage you want to use. Bitfinex offers different leverage options, but it's important to carefully consider the risks associated with higher leverage levels. Once your trade is executed, monitor it closely and use stop-loss orders to manage your risk effectively.
| 4. What are the fees associated with lending Ethereum on Bitfinex? | |
Ans. Bitfinex charges fees for both lending and borrowing on their platform. The lending fee is 15% of the interest earned on your loaned funds. This fee is deducted automatically when the interest payment is made. Additionally, if you decide to cancel an active loan offer before it is taken by another trader, you may be subject to a small cancellation fee.
| 5. Is it safe to lend and margin trade on Bitfinex? | |
Ans. Bitfinex has implemented various security measures to protect the funds and data of their users. They use strong encryption, two-factor authentication, and cold storage for the majority of their funds. However, it's important to remember that lending and margin trading involve certain risks, such as counterparty risk and market volatility. It's crucial to conduct thorough research, understand the risks involved, and use appropriate risk management strategies before participating in these activities.
Text Transcript from Video
everyone tied a 51% crew doing another
educational video here and tonight's
topic we're gonna talk about is margin
lending uh you say Todd what's margin
lending
well basically margin lending is on
BitFenix and I believe Palahniuk still
does it but I don't trade on there
anymore so I'm gonna go over the
BitFenix side of things and give you a
little explanation of the margin lending
feature so what it is on BitFenix we
have a feature basically that you can
take the money your tether or dollars or
whatever you want to call it and
basically if you're not using that to
trade you can lend that out on their
platform and let other traders use that
money to trade with and you collect
interest off of it and it's basically
free money cuz most people I notice I
see them talking on the internet and
everything and they're like oh you know
I'm just sitting in toddler sitting in
telegram the corrections and everything
when you could be taking that money
right then and there and putting it to
work for you and it's actually it's a
good return so you know it's something
to consider if you're basically sitting
there with a balance in your account
you're not currently trading it and
there's some certain workarounds so
first I'll show you how to do it
basically you go in here to your funding
tab and you click USD or whatever it is
on there you'll find it um and you come
in here and you look and you say oh okay
well here's the rate that it's going for
now it's like 0.12 3.1 to 4% so you can
lend out anywhere from 2 days up to 30
day loans and currently it's at one
point two eight one three so don't
always just throw in the lowest number
because there
BOTS that will keep recycling it you got
to kind of watch over here and see what
actually the rate is going forward
so right now you could probably easy get
like you know 1.2 I'd say one point two
five would be easy because once these
will fill it'll go up here to like 1.25
so what you'll do is you'll just simply
put in point one two five or whatever
that you seen from over here filling and
you know let's say you know you want to
put a hundred thousand and and you can
pick your period for you know two days
five days you know thirty days whatever
you want to learn that money for so
here's a good example all right you're
trading during the week and you got out
of your position so you're like oh you
know I'm gonna I'm gonna head to the
beach this weekend you know I'm gonna be
going Friday told you know Sunday night
so why would you just let Heather sit
there in your account when you could be
earning interest off of this so so you
put in a loan and you hit offer for two
days and let it the fill so what that is
is 0.125 percent you're like oh man it
doesn't selling much but really it is
because this is 0.125 percent per day so
if you put in a hundred thousand dollars
at point one two five percent for two
days we're gonna calculate this so
you'll basically be getting a hundred
dollars a day and for your entire two
day period if the loan stays full it'll
be two hundred and twelve dollars
roughly this is 38% APR that's like
unheard of where can you loan your money
in a bank or something banks give you
like a percent maybe a couple percent
you know sometimes a fractional percent
and you know this is a way more
convenient to because like I said you
can do a two day line and you go to a 30
day line whatever you have free so you
know over the course of let's say you
had a hundred grand and you did it for
30 days you would make three thousand
180
dollars non compounded if you kept
compounding that you had made three
thousand two hundred and forty-five
dollars in interest for a month you know
that's 49 percent APR compounded that's
crazy like to basically do nothing
except for reset loans three thousand
bucks a month to do loans off a hundred
thousand dollars that's like unheard of
so that's basically what it is and you
say well you know I'm tired like they're
trading with my money what if they lose
it that's the thing they can't I am I've
been doing this for god man I don't know
how long it's been so long but this way
it's been so long I can't even remember
how long I've been doing it years and
years and years and I've never lost a
penny on margin lending because they
have a safety feature built in that will
automatically liquidate the trader that
borrowed the money from you if he gets
into a you know a liquidation phase
which would basically I believe has that
30% you know something like that but
anyway their safety features built-in so
that's not something that you should
really be concerned about also the money
you know it can never leave the platform
so this cannot leave bit facts here so
they can't just buy a Bitcoin and like
send it somewhere else to trade with you
know this is always just locked in here
it's kind of like a ledger like you know
them keeping track the funds will
actually change hands from account to
account it's kind of like them keep a
ledger of the trading and you know what
they borrowed from you and all that and
um there's some little tricks and stuff
you can learn eventually if you get good
at this like for example I have some
loans out right now and I'm loading a
good portion of it cuz the rate was up
the other day it was like two point
seven nine or something which was crazy
so I loaned it out and if I want to
trade today I'll just sit here and I'll
borrow it at one point to 2% eight point
one to two percent so I basically have
my money loaned out for double what I
can borrow it back from so I'm borrowing
money at half the rate that I'm lending
it so I'm actually
profiting off of that spread also so if
you get good enough at it there's little
ways you can work with this and you know
make yourself some extra cash so you
know not obviously you know I'm not
sitting there trying to like push you
over to BitFenix or anything but if you
already have an account you know and
you're going away for the weekend why
not
you know lend out your money it's
basically free money you know or if
you're not trading with that money for
the week say you have a big balance in
your account you're like are you know I
got a half a million dollars but I'm
only trading a hundred thousand right
now so learn out two or three hundred
thousand or whatever you know whatever
you feel comfortable you can learn as
minimum is fifty dollars so you know
it's not it's not gonna be much it's
gonna be a couple dollars a day for you
but something better than nothing here
so I figured I'd give you a quick
explanation of that and I let you get a
look at it and it's relatively simple
you know filling your rate and put in
the amount you want to lend the period
of days and just hit offer and it's
gonna basically throw it right here and
once that order fills it'll go provided
and the thing is with this though you
can't cancel these so keep that in mind
like you can't cancel and say hey I want
my money back the only way I can cancel
is if the trader closes the position and
decides to pay you back or they get
liquidated and pay you back for the time
period expires and it's not renewed so
there's a lot of ways to do this there's
another feature called FRR it's flash
return rate so if you wanted to
basically walk away and have this auto
lend for you you could set it at the
flash return rate and just click the
renew tab once it gets on there and
it'll automatically keep lending this
out for you so you can basically set
this and forget it you can walk away for
a year if you wanted to and it'll keep
lending it and the way they calculate
the flash return rate is I believe it's
every hour they take that out the
average of the loans you know the high
and a low loan and they get your flash
return rate it's generally a little bit
lower than what you can actually get for
it but it gives you the convenience of
not having to sit here and wash it so
you know I think it's every hour they
calculate the ones or maybe every two
hours but that's irrelevant because it's
gonna get you in the ballpark generally
of you know what the daily you know
averages so that's something you can
take into consideration also and if you
don't have a bit for necks account you
want to try this out or check it out
I'll go ahead and leave a link to the
discount code I have for this it's
roughly 10% off your lending fees
trading fees and everything abit Phenix
if you want to sign up for an account so
I'll leave that in the description and I
will leave this BitFenix swap calculator
the link to that in the description that
way you can figure out what you're
actually gonna make and play around with
it and if you have any questions or
maybe I forgot something I just wanted
to jump on here for a few minutes and
you know give you guys a little bit of
knowledge here so if I forgot something
just ask me in the comments and you know
I'll do my best to reply back to you
give you an answer so coming up on my 10
minute mark I hope you guys enjoyed this
I hope you guys learn something from it
you know maybe take something away from
this maybe you can't so I will catch you
guys on the next video
and you know happy trading
educational video here and tonight's
topic we're gonna talk about is margin
lending uh you say Todd what's margin
lending
well basically margin lending is on
BitFenix and I believe Palahniuk still
does it but I don't trade on there
anymore so I'm gonna go over the
BitFenix side of things and give you a
little explanation of the margin lending
feature so what it is on BitFenix we
have a feature basically that you can
take the money your tether or dollars or
whatever you want to call it and
basically if you're not using that to
trade you can lend that out on their
platform and let other traders use that
money to trade with and you collect
interest off of it and it's basically
free money cuz most people I notice I
see them talking on the internet and
everything and they're like oh you know
I'm just sitting in toddler sitting in
telegram the corrections and everything
when you could be taking that money
right then and there and putting it to
work for you and it's actually it's a
good return so you know it's something
to consider if you're basically sitting
there with a balance in your account
you're not currently trading it and
there's some certain workarounds so
first I'll show you how to do it
basically you go in here to your funding
tab and you click USD or whatever it is
on there you'll find it um and you come
in here and you look and you say oh okay
well here's the rate that it's going for
now it's like 0.12 3.1 to 4% so you can
lend out anywhere from 2 days up to 30
day loans and currently it's at one
point two eight one three so don't
always just throw in the lowest number
because there
BOTS that will keep recycling it you got
to kind of watch over here and see what
actually the rate is going forward
so right now you could probably easy get
like you know 1.2 I'd say one point two
five would be easy because once these
will fill it'll go up here to like 1.25
so what you'll do is you'll just simply
put in point one two five or whatever
that you seen from over here filling and
you know let's say you know you want to
put a hundred thousand and and you can
pick your period for you know two days
five days you know thirty days whatever
you want to learn that money for so
here's a good example all right you're
trading during the week and you got out
of your position so you're like oh you
know I'm gonna I'm gonna head to the
beach this weekend you know I'm gonna be
going Friday told you know Sunday night
so why would you just let Heather sit
there in your account when you could be
earning interest off of this so so you
put in a loan and you hit offer for two
days and let it the fill so what that is
is 0.125 percent you're like oh man it
doesn't selling much but really it is
because this is 0.125 percent per day so
if you put in a hundred thousand dollars
at point one two five percent for two
days we're gonna calculate this so
you'll basically be getting a hundred
dollars a day and for your entire two
day period if the loan stays full it'll
be two hundred and twelve dollars
roughly this is 38% APR that's like
unheard of where can you loan your money
in a bank or something banks give you
like a percent maybe a couple percent
you know sometimes a fractional percent
and you know this is a way more
convenient to because like I said you
can do a two day line and you go to a 30
day line whatever you have free so you
know over the course of let's say you
had a hundred grand and you did it for
30 days you would make three thousand
180
dollars non compounded if you kept
compounding that you had made three
thousand two hundred and forty-five
dollars in interest for a month you know
that's 49 percent APR compounded that's
crazy like to basically do nothing
except for reset loans three thousand
bucks a month to do loans off a hundred
thousand dollars that's like unheard of
so that's basically what it is and you
say well you know I'm tired like they're
trading with my money what if they lose
it that's the thing they can't I am I've
been doing this for god man I don't know
how long it's been so long but this way
it's been so long I can't even remember
how long I've been doing it years and
years and years and I've never lost a
penny on margin lending because they
have a safety feature built in that will
automatically liquidate the trader that
borrowed the money from you if he gets
into a you know a liquidation phase
which would basically I believe has that
30% you know something like that but
anyway their safety features built-in so
that's not something that you should
really be concerned about also the money
you know it can never leave the platform
so this cannot leave bit facts here so
they can't just buy a Bitcoin and like
send it somewhere else to trade with you
know this is always just locked in here
it's kind of like a ledger like you know
them keeping track the funds will
actually change hands from account to
account it's kind of like them keep a
ledger of the trading and you know what
they borrowed from you and all that and
um there's some little tricks and stuff
you can learn eventually if you get good
at this like for example I have some
loans out right now and I'm loading a
good portion of it cuz the rate was up
the other day it was like two point
seven nine or something which was crazy
so I loaned it out and if I want to
trade today I'll just sit here and I'll
borrow it at one point to 2% eight point
one to two percent so I basically have
my money loaned out for double what I
can borrow it back from so I'm borrowing
money at half the rate that I'm lending
it so I'm actually
profiting off of that spread also so if
you get good enough at it there's little
ways you can work with this and you know
make yourself some extra cash so you
know not obviously you know I'm not
sitting there trying to like push you
over to BitFenix or anything but if you
already have an account you know and
you're going away for the weekend why
not
you know lend out your money it's
basically free money you know or if
you're not trading with that money for
the week say you have a big balance in
your account you're like are you know I
got a half a million dollars but I'm
only trading a hundred thousand right
now so learn out two or three hundred
thousand or whatever you know whatever
you feel comfortable you can learn as
minimum is fifty dollars so you know
it's not it's not gonna be much it's
gonna be a couple dollars a day for you
but something better than nothing here
so I figured I'd give you a quick
explanation of that and I let you get a
look at it and it's relatively simple
you know filling your rate and put in
the amount you want to lend the period
of days and just hit offer and it's
gonna basically throw it right here and
once that order fills it'll go provided
and the thing is with this though you
can't cancel these so keep that in mind
like you can't cancel and say hey I want
my money back the only way I can cancel
is if the trader closes the position and
decides to pay you back or they get
liquidated and pay you back for the time
period expires and it's not renewed so
there's a lot of ways to do this there's
another feature called FRR it's flash
return rate so if you wanted to
basically walk away and have this auto
lend for you you could set it at the
flash return rate and just click the
renew tab once it gets on there and
it'll automatically keep lending this
out for you so you can basically set
this and forget it you can walk away for
a year if you wanted to and it'll keep
lending it and the way they calculate
the flash return rate is I believe it's
every hour they take that out the
average of the loans you know the high
and a low loan and they get your flash
return rate it's generally a little bit
lower than what you can actually get for
it but it gives you the convenience of
not having to sit here and wash it so
you know I think it's every hour they
calculate the ones or maybe every two
hours but that's irrelevant because it's
gonna get you in the ballpark generally
of you know what the daily you know
averages so that's something you can
take into consideration also and if you
don't have a bit for necks account you
want to try this out or check it out
I'll go ahead and leave a link to the
discount code I have for this it's
roughly 10% off your lending fees
trading fees and everything abit Phenix
if you want to sign up for an account so
I'll leave that in the description and I
will leave this BitFenix swap calculator
the link to that in the description that
way you can figure out what you're
actually gonna make and play around with
it and if you have any questions or
maybe I forgot something I just wanted
to jump on here for a few minutes and
you know give you guys a little bit of
knowledge here so if I forgot something
just ask me in the comments and you know
I'll do my best to reply back to you
give you an answer so coming up on my 10
minute mark I hope you guys enjoyed this
I hope you guys learn something from it
you know maybe take something away from
this maybe you can't so I will catch you
guys on the next video
and you know happy trading
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Nov 15, 2024 Last updated |
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