There are terminologies in the cryptocurrency ecosystem that come off as intimidating, especially to a very new trader, however, a simple exposition usually reveals that the underlying factor behind most of these terminologies is quite straightforward. This is the case with TurboXBT’s synthetic short-term contracts. It sounds complicated, but in reality and practice, it is not.
TurboXBT is a new trading platform that made its debut into the digital currency ecosystem with several goals, one of which is to introduce a higher earning potential per trade for all users. As such, the platform introduces short-term contracts for synthetic assets, with the potential to earn up to 90% profits in a single trade.
The Ideal Behind Synthetic Asset and Short Term Contract Trading
The trading program on the TurboXBT platform is characterized by two major components: synthetic assets, and short-term trading. Typically, both concepts are interdependent of each other and often used to qualify one another.
Imagine going on a regular trading platform. Through your credit or debit cards, you can make purchases of a real digital asset like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and even Dogecoin (DOGE). These assets you purchase are real, and they can be traded to take advantage of their future price growths.
Synthetic assets work in a different manner. These types of assets are financial instruments that track and provide the returns of another asset without requiring you to hold that asset. With a Bitcoin-based synthetic asset, for instance, you get to gain similar exposure as someone who purchased the premier cryptocurrency either in the spot market or via other means. The price gains and losses as applicable to the Bitcoin holder also apply to the Synthetic asset trader.
The TurboXBT synthetic assets which are about 17 in total cutting across digital currencies, forex currencies, commodities, and major indexes also work in similar versions. Synthetic assets offer a lot of advantages as it attracts the benefit of holding the asset through potential price gains while eliminating the probable disadvantages attached. The demerits of holding a coin are numerous and may include the possibility of wallet recovery key loss and the dangers of theft.
Now that an exposition has been given into what synthetic assets are, let us dive into how it fits into the TurboXBT platform.
Trading Synthetic Assets on TurboXBT
The TurboXBT allows users to enter into two basic types of contracts to gain exposure to short-term synthetic asset trading. These can either be the ‘UP’ or ‘DOWN’ contracts to bet on price gains and fall respectively. To use the TurboXBT platform, users will need to open a trading account which can easily be done using an email address and password. Typical Know Your Customer (KYC) requirements are not required to get started.
With a personal account, a deposit will need to be made using one of the supported digital currencies including Bitcoin (BTC), Ethereum (ETH), USDC, and Tether (USDT) respectively. With the funds, users can enter into a live trade by selecting the asset pair to trade, for example, the BTC/USD pair.
Before the trade is executed, a suitable time frame that is visible on the chart interface is then chosen, and the trade is executed by clicking either the green UP button for the upward trend or the red DOWN button to bet on price falls. Trade winnings are dependent on whether the traded pair gained or lost in value within the set time limit.
These trades can give a return as high as 90%. The 38 trading pairs have their own inherent payout rates which are visible before the trade is executed. If a $1,000 trade involving the ETH/USD pair is executed with a 75% payout rate in favor of the trader, the total funds that will be deposited in the customer’s account is $1,750 dollars. This figure is a combination of the initial trading capital and the earned amount.
Trades can be simple and straightforward as described, however, there are associated risks. Customers are expected to do their due diligence on the market factors that move the respected trading pair they wish to trade. The platform ensures that the risk associated with each trade is pointed out through a term and customer checkmark all traders must assent to before using the platform.
Is That All About TurboXBT?
While the high payout and instant profit guarantee by the platform are some of its unique features, there are a plethora of other reasons to use the platform. The exchange has a unique design that makes it very appealing. The assets being traded on the platform are secured using bank-grade security standards, and a 99.9% uptime is maintained.
The outlook of TurboXBT is as unique as described, and anyone can gain exposure to the trading platform using a $1,000 free gift in a demo account. This will help you understand how the platform works, giving you a first-hand experience of what to expect should you choose to begin your trading journey on the platform.
To get started, you can open a TurboXBT account here today.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
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