Post
Topic
Board Trading Discussion
Re: Please Explain This Bitcoin Trade
by
Tytanowy Janusz
on 16/06/2023, 05:51:46 UTC
Thank you for taking the time to read my post and reply.
When I trade FOREX, I can Buy or Sell, at the Market, and then end the trade whenever I want.
For example, let's say I Buy at $10. It increases to $10.5, $11.0, etc. I can get out of the trade whenever I want to. I don't want to get out of the trade because I believe the price will keep going up and up.
Is this possible when I buy Bitcoin in Coinbase?

because it is crypto trading and not stocks, derivatives trading. When you open a futures contract, you must close it before withdrawing funds. So the position is open until closed. If you buy bitcoin on coinbase, you don't have an open position with exposure to bitcoin, you just own bitcoin with which you can do what you want. You can withdraw to another exchange, or to a private wallet or, you can buy altcoins or a washing machine in store ... whatever you want. That's why it doesn't show up as an open position in your account because you don't have a bitcoin position, you own bitcoin now. The same with selling bitcoin. If you want to close your position just do an oposite trade.