Passive Income Ideas 2022 🔥Can you make a living off of crypto?

Passive Income Ideas 2022 | How To Buy Cryptocurrency | Best Crypto Passive Income

👉 GMX Twitter: https://twitter.com/GMX_IO

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Welcome to our Passive Income Ideas 2022 Video!

Decentralized Leverage
GMX is a popular decentralized exchange that specializes in perpetual futures trading. Launched on the Ethereum Layer 2 network Arbitrum in late 2021 and later deployed to Avalanche, the project has quickly gained traction by offering users leverage of up to 30 times their deposited collateral.

Leverage trading—the act of borrowing funds from financial platforms in order to increase one’s exposure to price movements—has become an essential part of the crypto ecosystem in recent years. Among other things, it allows market participants to profit from price downturns, reduce risk in uncertain conditions, and bet big on an asset when they have conviction.

There are several ways of taking on leverage in crypto. Binance, FTX, and other centralized exchanges offer customers the ability to borrow funds for trading purposes. Binance and FTX both let customers borrow a maximum of up to 20 times their initial deposit. DeFi protocols like Aave and MakerDAO issue loans against crypto collateral in a permissionless manner. More recently, traditional finance companies like GME Group and ProShares have started offering their institutional clients access to leveraged products such as options on Ethereum futures contracts and Bitcoin Short ETFs to their institutional investors.

GMX is powered by Chainlink Oracles. It uses an aggregate price feed from leading volume exchanges to reduce liquidation risk from temporary wicks. A liquidation occurs when a user’s collateral becomes insufficient to maintain a trade; the platform then forcefully closes the position and pockets the deposit to cover its losses.

When a user opens a trade or deposits collateral, GMX takes a snapshot of its dollar value. The value of the collateral does not change throughout the trade even if the price of the underlying asset does.

Final Thoughts
GMX is user-friendly. The trading experience feels smooth, and the system provides users with thorough data. Whenever entering or closing a position, it’s easy to find the collateral size, leverage amount, entry price, liquidation price, fees, available liquidity, slippage, spread, and PnL (profits and losses). The protocol’s interface supplies an abundance of information related to its assets under management, trading volumes, fees, and trader positions. The website also details GMX and GLP’s market capitalizations and highlights the project’s partnerships, integrations, and related community projects. It furthermore includes a documentation section, which provides information on the exchange’s various components, and suggests methods to bridge to Arbitrum or Avalanche, or to acquire GMX and GLP tokens. Thanks to its detailed dashboards, GMX gives off an impression of transparency. As a result, the protocol’s mechanisms are relatively simple to grasp.

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Passive Income Ideas 2022 video. Make sure to leave a like on the video if you gained value from it!

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⏰Timestamps⏰

00:00 - how to buy cryptocurrency Introduction.
00:26 - how to buy cryptocurrency project summary.
04:09- how to buy cryptocurrency project outro.

Видео Passive Income Ideas 2022 🔥Can you make a living off of crypto? канала Crypto Trend