How does BlockFi credit work when trading on FTX?

3 answers

• Dec 29, 2021 · 3 years ago
  BlockFi credit on FTX allows traders to borrow funds against their existing cryptocurrency holdings. This credit can be used to increase trading positions or take advantage of market opportunities without selling their assets. The borrowed funds are provided by BlockFi, and traders are required to pay interest on the borrowed amount. It's important to note that the borrowed funds are not directly deposited into the trader's FTX account, but rather held by BlockFi as collateral. This feature can be beneficial for traders who want to leverage their positions without liquidating their assets.
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• Dec 29, 2021 · 3 years ago
  When trading on FTX, BlockFi credit provides traders with the ability to access additional funds for trading purposes. This can be useful for traders who want to increase their buying power or take advantage of short-term trading opportunities. The credit is based on the value of the trader's existing cryptocurrency holdings and is provided by BlockFi. Traders can use the borrowed funds to open new positions or add to existing ones. However, it's important to carefully manage the borrowed funds and consider the associated interest costs. BlockFi credit on FTX can be a powerful tool for experienced traders looking to optimize their trading strategies.
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• Dec 29, 2021 · 3 years ago
  BlockFi credit is a feature that allows traders on FTX to borrow funds against their cryptocurrency holdings. This credit can be used to increase trading positions or take advantage of market opportunities. The borrowed funds are provided by BlockFi, a leading cryptocurrency lending platform. Traders are required to pay interest on the borrowed amount, which is calculated based on the loan terms and the current market conditions. It's important to carefully consider the risks and costs associated with borrowing funds before utilizing BlockFi credit on FTX. Traders should also ensure that they have a solid understanding of the platform's terms and conditions before engaging in any borrowing activities.
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