How i made $2,000 a month by a $100 investment on BTCC
If you are a crypto trader, you will agree with me that the cryptocurrency markets can be quite volatile and they require extra caution when trading. When I started trading, the rapid market movements often found me unawares and at times made huge losses since I was trading on the spot markets.
I would buy a cryptocurrency, mostly Bitcoin, Ethereum, Ripple or Litecoin expecting to trade it off when the market prices raised only for the prices to drop continuously for a month, especially in 2018. Then due the fear of losing my invested amount in purchasing the crypto coins, I would trade off the crypto coins at the low prices just to stay out of the market in case their values dropped even further. But some days or weeks after trading off my crypto coins, BOOM! The market prices start rising again and I feel tempted to buy at such low prices. But mostly after buying the trend could reverse to bearish again and the cycle continues.
After a long struggle buying and selling actual crypto coins and also weathering the risk of my crypto wallets being hacked into every time a hacking incident occurred, I finally came across CFD bitcoin trading (or bitcoin futures trading) and I became quite interested since I had some knowledge in how CFDs worked forex trading.
Cryptocurrency CFDs trading seemed to resonate better with me since I didn’t have to purchase all the real cryptocurrencies again for me to trade.
It took me a short time to learn about them and I started looking for an exchange that would offer me the best trading experience. It was not long before I came across BTCC exchange.
To my amusement, BTCC exchange offered cryptocurrency futures trading, which in my research I had found out to be the best method of trading cryptocurrency CFDs.
Opening my account with BTCC exchange
I researched about the exchange and found out that it is a highly reputable Crypto derivative trading platform and now provides up to 150x leverage on crypto daily/weekly/perpetual contracts.
I must say its maximum leverage of 150x caught my attention and I made up my mind that I was going to open an account with them.
The account opening and registration only took a few minutes and I had a BTCC account. And just like in any other exchange, I had to deposit some funds to start trading.
NOTE: BTCC accepts USDT deposits only currently!
I did not have much cash with me that I was willing to risk. So I decided to deposit $100. To deposit, I used one of my ERC20 wallets and purchased $100 worth of Tether (USDT). That means I got 100USDT.
I then sent the 100USDT to my BTCC account and I was set to start trading.
Earning my first $2,000 in just one month from the $100 deposit
BTCC offers daily, weekly, and perpetual futures contracts. For the weekly and perpetual futures contracts, the maximum leverage you can use is 100x while for the daily futures contracts, the maximum leverage you can use is 150x.
Since I like day trading, I decided to start with trading the daily futures contracts. However, because leverage trading is a two-edged sword, I avoided going for the maximum leverage of 150x but rather opted to use the 50x leverage. That way, I knew I was secure even if some of my speculations ended up being wrong.
My first trade was a BTCUSDT BUY market order of a daily futures contract using the leverage of 50x. I used a lot size of 0.2 and the collateral, which is referred to the reference margin on BTCC platform, was 44.00USDT while the value of the contract was 2048.93USDT. At the time of placing the contract, the exchange rate of BTCUSDT was 10244.10. At the time the contract was expiring, the exchange rate had risen to 11000.12 and the contract value had appreciated to 2200.02USDT. When the contract was settled, I made a profit of 151.09USDT which is equivalent to $151.09.
My account balance had grown to now reflect 251.09USDT and I could open an order with a larger lot size. However, I only maintained one contract at a time to avoid liquidation in case my speculations were wrong. I also ensured that the collateral for any futures contract was always below half of my account balance.
Since that day the market had a wide range, I decided not to trade in the following day to see if it was going to try and correct the movement. In the following day, the market registered another small rise and the second day the same happened.
On the third day, I decided to place another BTCUSDT BUY market order of a daily futures contract using the leverage of 50x. This time since my account balance was a bit larger, I decided to use a lot size of 0.5. The collateral, was 120.00USDT while the value of the contract was 5680.36USDT. At the time of placing the contract, the exchange rate of BTCUSDT was 11360.50. At the time the contract was expiring, the exchange rate had risen to 11788.68 and the contract value had appreciated to 5894.34USDT. When the contract was settled, I made a profit of 213.98USDT which is equivalent to $213.98.
My account balance was now 465.07USDT from 100USDT in just three days.
The following day the market started moving down and I knew this was the retracement I had been waiting for. I decided to place a BTCUSDT SELL market order of a daily futures contract using the leverage of 50x. This time since my account balance was a bit larger, I decided to use a lot size of 1.0. The collateral, was 220.00USDT while the value of the contract was 11773.82USDT. At the time of placing the contract, the exchange rate of BTCUSDT was 11773.34. At the time the contract was expiring, the exchange rate had dropped to 11053.50 and the contract value had dropped to 11054.01USDT. When the contract was settled, I made a profit of 719.81USDT which is equivalent to $719.81.
So far I was doing very well and in a week, I had made a profit of $1084.88.
I avoided trading for two days waiting to see if the downward trend was a minor retracement or a bearish trend. On the second day, a Doji candlestick was formed and I knew it was just a minor retracement and the bullish trend was going on though I knew it was not going to last for long.
So, the next day I placed a BTCUSDT BUY market order of a daily futures contract using the leverage of 50x. This time since my account balance was a bit larger, I decided to use a lot size of 2.5. The collateral, was 550.00USDT while the value of the contract was 28032.56USDT. At the time of placing the contract, the exchange rate of BTCUSDT was 11212.80. At the time the contract was expiring, the exchange rate had risen to 11685.11 and the contract value had appreciated to 29213.13USDT. When the contract was settled, I made a profit of 1180.57USDT which is equivalent to $1180.57.
In just less than two weeks, my account had now grown from 100USDT ($100) to 2264.57USDT ($2000).
I decided to withdraw 2000USDT ($2000) to my ERC20 wallet and remain with 264.57USDT in my BTCC account, which is now almost making me another $2000.
Go for a free account on BTCC in seconds and make your first crypto leverage trading. The deposit amount is as low as 0.5 USDT. And if your first deposit is 500 USDT or above BTCC will give you a bonus of up to 2000 USDT.
Tip: If you like to trade on the go, you can download BTCC Mobile APP which will give you a better trading experience than the web.