TheGrinder on Nostr: Until yesterday it was Binance and then they came around with their routine ...
Until yesterday it was Binance and then they came around with their routine re-verification. Being in Germany atm means that updating my info locked me out of the market. So I moved my funds to Kraken which is still under my Spanish details. Hence I bought 1k worth at 100k and when we fell through I bought another 1k worth this morning at 91k.
Note, my principal / collateral is BTC which never gets sold into fiat. I don't short myself, I only buy Bitcoin with their money and eventually pay them back keeping the difference. For this to work your collateral should be at least 3x what you're borrowing and never fomo into the first buy with the max amount available. you "ladder" into your buys and take the free sats. With this approach you can't get liquidated. Been doing this for a long time and never lost money.
Note, my principal / collateral is BTC which never gets sold into fiat. I don't short myself, I only buy Bitcoin with their money and eventually pay them back keeping the difference. For this to work your collateral should be at least 3x what you're borrowing and never fomo into the first buy with the max amount available. you "ladder" into your buys and take the free sats. With this approach you can't get liquidated. Been doing this for a long time and never lost money.