Review on 3X Long Bitcoin Token by Stephen Toluwani
The 3X Long bitcoin token is for you when you are Bullish on BTC
The 3x Long bitcoin token is one of the Leveraged tokens offered by the renowned FTX exchange that allows for traders and Investors to take a bet for a coin in the upward direction with the leverage of X3 applied automatically to it.
When traders are actually betting for the price of to rise, they buy the 3x long Bitcoin token which brings about x3 the profit one would normally make buying Bitcoin in a spot market. With no risk of liquidation or rebalancing of Leverage, traders are sure pitch in to taking 3x long Bitcoin when being bullish on Bitcoin rather than trading it's contracts.
The risks with the 3x long Bitcoin token is mostly based on wrong prediction as when you buy a 3x long token and the price of moves down against it, you also make 3x faster loss. But what makes up for it is making out the right trend and trading along that level.
Pros
- 3X long Bitcoin token offers a 3x upward leverage exposure of a token to an investor
- There is no risk of liquidation when trading with the 3x long Bitcoin
- It's a good starting point for new investors
Cons
- The earning potential when the coin goes up is x3, so also the losses you make when the market falls
