It’s a question that many investors are asking – can you go long on crypto in the US? The short answer is: yes, you can! But it’s not quite as simple as going long on traditional stocks or other assets. Here’s what you need to know.
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What is Going Long?
In case you’re not familiar with the term, “going long” refers to the practice of buying an asset with the hope of selling it at a higher price in the future. This allows you to profit from an increase in the asset’s value.
How to Go Long on Crypto in the US?
So, how can you go long on crypto in the US? Here are a few options:
- Use a Crypto Exchange: One option is to use a crypto exchange to buy the cryptocurrency you wish to hold. Not all exchanges offer the same coins, so you’ll need to do your research to find one that offers the coin you’re interested in. Some popular exchanges include Coinbase, Binance, and Kraken.
At coinesper.com, we’ve got a favorite exchange we work closely with that we’d recommend – more on this one later!
- Use a Derivatives Exchange: Another option is to use a derivatives exchange, such as BitMEX or Deribit, which offer futures contracts and options that allow you to speculate on the price of crypto without actually owning it.
- Use a Brokerage Account: If you have a brokerage account with a firm that offers cryptocurrency trading, you may be able to go long on crypto through that account.
Are There Any Risks to Going Long on Crypto?
As with any investment, there are risks to going long on crypto. For one thing, the cryptocurrency market is highly volatile, so the price of a particular coin can fluctuate wildly in a short period of time.
This means that there’s always a risk of losing money when you go long on crypto.
Additionally, some exchanges and brokers that allow you to buy crypto may have high fees or require a high minimum investment, which can make it expensive to go long on crypto.
Why Go Long with Coinmetro in the US?
If you’re looking to go long on crypto in the US, an exchange we recommend is Coinmetro.
Here’s why:
Lowest Fees in Crypto for US Clients
Coinmetro is known for having some of the lowest fees in the crypto industry for US clients. With the addition of trading fee rebates, you simply cannot find another exchange with a better fee structure than Coinmetro!
Funding Options
Coinmetro offers users the ability to instantly fund their accounts with USD through ACH transfers, thanks to their integration with Plaid.
Plaid is a well-known and trusted third party that allows you to login to your bank through the Coinmetro interface, so you do not have to leave the exchange to make a deposit.
They also provide the option for wire transfers, including international transfers via SWIFT, in case your bank does not support ACH.
Trading Pairs
Coinmetro have become THE fiat on/off ramp for the US Dollar (“The most wonderful piece of paper in the world.” -Ron Swanson).
Coinmetro offers trading pairs for the most commonly traded cryptos as well as exciting, lesser known assets they believe have a bright future ahead.
If you’d like to give Coinmetro a shot, click the image below:
Customer Service You Deserve
Coinmetro is known for offering excellent customer service, with a team that goes above and beyond to ensure their clients are happy with the products and services on offer.
They have a reputation for responding quickly to customer support tickets on live chat, typically within two minutes on average.
This level of customer service is uncommon in most industries, especially in the world of banks and cryptocurrency exchanges.
Check out their reviews on Trustpilot to see for yourself.
If you’re planning on going long on crypto in the US, look no further than Coinmetro.
CoinMetro is fully registered in the US
The cryptocurrency space is still something of a “wild west” with far too many bad actors.
At CoinMetro, they are distinguishing themselves as leaders of compliance around the world.
They work with regulators and during thier recent fundraising event, Coinmetro registered with the SEC in the US so they could allow accredited investors from the US into the securities offering.
As part of the United States Department of the Treasury, the Financial Crimes Enforcement Network exists to combat illicit use & money laundering.
This is important for national security and it is something that Coinmetro takes very seriously.
As a note, they are currently unable to serve residents in HI, WA or NY.
They are looking to acquire the relevant licenses in the near future to ensure all states get access to use Coinmetro.
Final Thoughts
It’s definitely possible to short crypto in the US, and there are a few different options available to you. Whether you choose to use a crypto exchange, a derivatives exchange, or a margin account, you’ll have the opportunity to profit from a decrease in the value of cryptocurrency. Just be sure to do your research and understand the risks before diving in
