I was looking for some ways to increase my profits and eventually decided on margin trading. I am aware of the risks, but the potential gain impresses. What should I consider before going in for margin trading and which exchange offers more favorable conditions for that?
First of all, don't do margin trading. Margin trading is how you make money fast. Stick to you what you have for now, especially if you are a newbie to the forum(so i suspect you might be a newbie at trading as well). I know that you are aware of the risks, i just want to remind you again that you can definitely lose a lot due to margin trading, and the interests that are charged are pretty high. By using margin trading you are playing a negative sum game.
Kraken has margin trading, so does poloniex. These are the two exchanges that I use often. Polo i don't use often anymore because it's got a lot of problems rn. Bitmex offers bitcoin derivatives and pretty sure you are able to trade with margin as well.
I was looking for some ways to increase my profits and eventually decided on margin trading. I am aware of the risks, but the potential gain impresses. What should I consider before going in for margin trading and which exchange offers more favorable conditions for that?
I only know that poloniex have margin trading. From what I heard it has a higher risk compared to your ol' trading. I know some people who benifit and actually are getting a lot of profit in it. The only thing I can say is, be prepare for the possible loss and only risk the money which you can afford to loose.
There are actually lots of them offering margin trading if not to mention Poloniex. Among them are also CEX, Kraken, Bitfinex
Thats why I am a bit confused.
As i said, don't use polo. I wouldn't even recommend bitfinex because they seem to have issues every few months, not something you would like. CEX has high spreads, kraken is the best imho.