MultiversX Tracker is Live!

Hedge BNB - which method is the best?

Binance

Cryptocoins Exchanges / Binance 302 Views

hello

I would like to use the cashback of the binance card, and to have the 2% I have to hold at least 1 BNB on binance.

But I'm afraid that as soon as I buy 1 BNB this will drop in value.

I see that on FTX there are several methods to short BNB:

  • BNB -0924 (I think it's a future, but I've never used them
  • BNBBEAR / USD (3X Short BNB Token (BNBBEAR) is an ERC20 token which seeks a return that corresponds to -3 times the daily return of Binance Coin)
  • BNBHEDGE / USD (X Short BNB Token (BNBHEDGE) is an ERC20 token which seeks a return that corresponds to -1 times the daily return of Binance Coin)

The simplest method seems to me to be BNBHEDGE / USD, but seeing the graph I notice that it does not exactly follow the BNB value (for example a 50% collapse of BNB corresponds to a rise of BNBHEDGE of only 20%. You confirm that this is the case?

What do you think is the best method? I am open to any advice.

Thank you,

Cas

submitted by /u/castoro800
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments