how to short on mexc

By following the steps outlined in the guide, traders can effectively short crypto assets on MEXC, taking advantage of market downturns to potentially generate profits.

Nov 01, 2024 at 08:44 am

How to Short on MEXC

1. Create an Account
Visit the MEXC website and create a trading account. Verify your identity by completing KYC verification.

2. Fund Your Account
Transfer funds to your MEXC account via bank transfer, credit/debit card, or cryptocurrency deposit.

3. Enable Margin Trading
Navigate to "Margin" on the top menu bar and click "Enable Margin Trading." Set your desired leverage and complete the risk assessment questionnaire.

4. Select a Trading Pair
Choose the trading pair you want to short, e.g., BTC/USDT for shorting Bitcoin.

5. Place a Short Order
Click on the "Short" button in the trading interface. Enter the amount of the underlying asset you want to short, the leverage to use, and the price at which you want to execute the trade.

6. Manage Your Position
Once your short order is executed, it will appear in the "Positions" tab. You can adjust your position by adding or removing leverage or closing it partially or fully.

7. Monitor Your Risk
Keep an eye on your position's price and value in real-time to manage risk. If the price moves against you, you may need to add margin or reduce your position to avoid liquidation.

Additional Tips:

• Use leverage cautiously, as it can amplify both profits and losses.
• Research the market conditions and underlying asset before placing a short trade.
• Set a clear profit target and stop-loss level to limit your losses.
• Consider using limit orders to execute trades at a specific price.
• Be aware of potential funding fees for holding a margin position over time.