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/biz/ - Business & Finance

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22777297 No.22777297 [Reply] [Original]

If i'm long on a certain coin, that is at what I believe a local low, and it has a binance leveraged token that does between 1.5x-3x, is there any real downside to being all in on that leveraged uptoken?

I see that there's the obvious "price goes down even more and never recovers" downside but I can hold onto it for the long term and i'm sure the price on this oh so secret token that you guys have never heard about would rebound far higher than its current value at some point.

>> No.22777325

>>22777297
CZ would accidentally dump it to 1 cent and take your money.

>> No.22777338

>>22777325
This.

>> No.22777385

>>22777297
Because they charge you every 8 hours for the privilege of the long position and these fees can be pricey as fuck

>> No.22777414

>>22777325
But as far as I understand it there's no liquidation point, it just keeps decreasing in value(at that higher leveraged rate) and even CZ can't suppress the price of LINK that long. Do you mean if he essentially rugpools and compromises the entire integrity of binance as a platform? I suppose thats a possibly but it can't be likely at all.

>> No.22777434

>>22777385
yeah thats the regular futures positioning, what i'm talking about is the LINKUP token that costs .01% / day. Which seems extremely negligible.

>> No.22777647

How does linkdown/up even work?