THIS IS A QUESTION FOR EXPERIENCED TRADERS IN BITCOIN
I am an experienced trader in other markets and would like to trade the Bitcoin market on both the long (buy) side and the short (sell) side.
Can someone point me in the direction of the three biggest exchanges that allows me to go long or short the BTC/USD
I am a professional trader. I want to trade in minimum $10,000 blocks.
I am looking for mainstream (NOT crypto) brokers that allow me to trade the BTC/USD without having to take possession of any Bitcoins. I want to just trade the BTC/USD pair.
In the crypto exchanges, I have to convert my USDs to BTCs and then either store my BTCs elsewhere (for safety because the Crypto exchanges get hacked all the time) or take the risk of leaving my BTCs at the exchange (where they can be stolen).
Both alternatives are unattractive.
A better alternative is to find a reputable mainstream broker that will allow traders to just trade the BTC/USD.
Are there any traders here that trade BTC/USD on any mainstream (NOT crypto) brokerages?
Problem is that mainstream brokerages don't usually accept bitcoin or even list bitcoin as a trading pair.
Apart from 1broker, which arguably could be considered as a "crypto brokerage" as well since its customers are mainly bitcoin based, i really can't think of anything else. Obviously binary options will always have btc, but then binary options are more like gambling since the timeframe is usually very short.
I would say use either 1broker, bitfinex, or bitmex. All of them are legit and have been used. Of course there could be hacks and whatnot but that's the risk you are dealing with with every action you do on an exchange, not just shorting btc.