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Leverage Trading - Yay or nay?

7 points · submitted Jul 2024 by u/AverageRedditLad · Technicals · archived

While my risk appetite is not even close to degen level, I sometimes am very confident certain market moves will occur and put my degen hat back on (and then quickly take it off as I get rekt). Usually, these occur on very large timeframes, using the daily or even weekly candles.

In the past, when that occurred, I would just use Binance. While that's still a great alternative, I decided to embrace the decentralized world of finance (or so they call it) and use decentralized perpetual exchanges.

Soon after starting I realized using Ethereum is close to infeasible as a chain, unless you're trading with VERY large sums of capital (which I was not - I'm a brokie). That's where Layer 2s saved my day.

While everyone has their own favorite layer 2 chains, I won't put mine into your head, lol. Instead, I'll go over some of the most known (and not so known) Decentralized Perpetual Exchanges out there. I bet you already have your favorite chain(s) anyway. If you're ever going to use one a perpetual exchange, it's probably going to be on that chain.

Here we go (NFA, DYOR, etc.):

  • Arbitrum: GMX
  • Solana: Jupiter
  • Ethereum (worth mentioning)/dYdX: dYdX
  • Sui: BlueFin
  • Polygon: QuickPerps
  • Injective: Levana Perps
  • Base: Kinetix

Honestly, there's so many chains and so many protocols, it's a bit hard to keep track of them and give them an honest try/test. But please make sure you DYOR and ensure you're comfortable using the protocol before getting started.

I hope this could be useful to some of you guys out there. While at it, please degenerate responsibly.

Did I miss any important ones? Make sure to let me know in the comments!

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donut-bot 1 points · Jul 2024

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kirtash93 1 points · Jul 2024

If you want to destroy your life fast, yes

🐼 !tip 1

Stormowarbat 1 points · Jul 2024

Quickperps on Quickswap is pretty awesome!

LegendRXL 1 points · Jul 2024

I stay away from leverage trading

Reason - i sux xD

!tip 1