What are the risks and benefits of shorting cryptocurrencies on Scottrade?

1 answers

• Dec 16, 2021 · 3 years ago
  Shorting cryptocurrencies on Scottrade is not currently available. Scottrade is primarily a traditional brokerage platform and does not offer direct access to cryptocurrencies for short selling or trading. However, there are other cryptocurrency exchanges and platforms that do provide short selling options. Traders interested in shorting cryptocurrencies can explore alternative platforms such as BYDFi, which offers a range of trading options including short selling. It's important to note that short selling cryptocurrencies, like any investment strategy, carries risks and requires careful consideration and research. Traders should assess their risk tolerance, market conditions, and the specific features and regulations of the platform they choose before engaging in short selling.
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