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BTCUP Review

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Very good

Revainrating 4 out of 5  
Rating 
4.0
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Description of BTCUP

BTCUP (BTCUP) is a cryptocurrency launched in 2020. BTCUP has a current supply of 0. The last known price of BTCUP is 5.90033674 USD and is down -3.22 over the last 24 hours. It is currently trading on 3 active market(s) with $660,526.20 traded over the last 24 hours. More information can be found at https://www.binance.com/en/leveraged-tokens/tokens/allTokens/BTCUP.

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Type of review

Revainrating 4 out of 5

Leveraged token trading on Bitcoin

The BTCUP token is a leveraged ETF token that Binance seems to have first pioneered into bringing. The token is used to expose traders (spot traders) to the world of leverage trading without exposing them to the risks associated with loosing their capital due to liquidation calls. BTCUP token works this way: it starts at a given price for the day of which a trader is expected to buy if he/she is of the belief that Bitcoin will be bullish or increase In value. The BTCUP token increases price of…

Pros
  • BTCUP offers a x3 leverage to traders with no risk of liquidation calls
  • Many exchanges are beginning to support the trading of leveraged tokens like BTCUP
Cons
  • They are suitable only for very short term investments due to rebalancing mechanism