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Hi Joel,
In an effort to be able to short cryptos (without having the required 10 m account, or investable assets at Binance, I use Coinbase, BTCC, Gemini, Zoomex and any others I find that will allow a US citizen to sell short.
With Coinbase, they have what they call a “nano” contract a Coinbase specific perpetual contract that was created to meet CFTC and other Regulatory criteria for US citizens, without many exclusionary restrictions.
Often this creates a price and liquidity issue from the ever powerful Binance charts… What to do?
Here are the Coinbase offerings:
Set up similar to the Emini S&P …
Perpetual contracts on Coinbase
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BIP: 0.01 BTC
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ETP: 0.10 ETH
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SLP: 5 SOL
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XPP: 500 XRP
Not asking for anything but input regarding processing trades using these non Binance charts.
Regards,
Capt. Tony C
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I started to play with the Coinbase perpetual contracts but didn’t end up doing a lot of trading. I think you may just need to monitor the charts they provide in the interface as I don’t see any charts in Tradingview yet. I think down the road you will see more futures being offered in the USA but I do think it’s going to take some time.
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@joel OK Joel,
Thanks for the input I will use other exchanges… Would you have any suggestions as to exchanges that allow US citizens to sell short?
Speaking of Exchanges Would you make a pitch to 3Commas to add BTCC to their exchange list if that is possible? I find the platform to be quite user friendly and would like to use it with 3Commas. Thanks in advance… I have suggested this exchange to 3Commas a few times, but have not received any response.
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@CaptTonyC Hey… I’ve talked to them about BTCC but they said BTCC’s api doesn’t meet all the requirements. Right now there are no regulated exchanges that US Citizens can short on. Coinbase has something similar but it’s not a true futures. It’s possible over time there will be some or other exchanges will open up.
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Thanks Joel,
I figured as much…
As good as it may seem to have the regulatory oversight creeping into the Cryptos… I have been there when the CFTC hijacked the FOREX business and it was a mess for a few years…
I could never reconcile that the “F” in CFTC stood for FUTURES…
The FOREX was strictly peer to peer SPOT CASH markets…
The chaos of becoming an Introducing Broker at dozens of Brokerage houses, which kept moving from Caribbean Island to Caribbean Island and Country to Country, to keep ahead of the regulators… It was not uncommon for US entities to get domiciled in any Island they could to keep the US FOREX clients they already cultivated. SOME of those “creative players” are NOW Prevalent Players in this Crypto community!!!! Let the Antics Begin!
I do not drink alcohol or smoke anything… BUT One would need a Three Gallon Beer and a Ten Foot Cigar to listen to the story of the experiences I live through in, Real Time as the market(s) Morphed into the sterile, controlled litany of meandering red and green FOREX charts ! These are definitely NOT Capt Tony Fish Tales!
As the brokerage hiding games concluded, the Majority of brokers left standing, had to by default align with Russia or Czechoslovakian entities to continue to trade in the FX markets … Oversight and Compliance became a nightmare, so much so that it finally drove me out of the FX markets, which prior to that hijacking the FX was the coveted original Cowboys and Indians trading market…
You had to have the grit to trade that market. The Thieves were EVERYWHERE!
Then along came the Cryptos… Cowboys and Indians ALL OVER AGAIN.. AND POTENTIALLY NO THIEVES! At least for a little while anyway..
I thought we would have more time (years more) But once the ETF’s came out and the regulators began calling the shots (which by the way, ARE the Brokerages and banks) then I knew that the Bitcoin “Glory Days” were coming to an end…
As you can tell from the NEW market behavior… The CROWD HAS LOST CONTROL and any price movement towards a price area not favorable to the Bigger Players does not go unaddressed!
I still have some hope that the Bitcoin backbone will not be bent or broken… But as soon as I see that wavering, It will be time to call it quits looking for those grandiose $40m BTC Price level predictions!
Should those grandiose prices begin to appear… I may not be the first one in line with my tin cup to collect… BUT REST ASSURED I WILL BE IN THAT LINE!!!
Please do not let this treatise discourage any traders… I still am very fervent for a happy ending!
Trade Well My Friends,
Capt Tony C
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