Rate and share experiences when trading on SnapEx exchange

danh-gia-san-snapex

Review of SnapEx exchange

After a period of using and conducting margin trading on SnapEx, I have drawn and noticed some advantages and disadvantages as follows.

If you do not have a SnapEx account and want to learn about it, you can refer to the article: What is SnapEx? Instructions to register an account to play Margin on SnapEx floor

Advantages of SnapEx exchange

  • The interface supports Vietnamese. This is an advantage worth noting, because most of the major margin brokers currently do not support Vietnamese. With this, SnapEx will create more favorable conditions for Vietnamese traders to access.
  • There are apps for mobile phones. On both Android and iOS, SnapEx has applications that work smoothly.
  • Policy share referral commission up to 60%. This is one of the ways to help SnapEx attract users and supporters around the world.
  • Added exclusive K-line weighted average technology. This technology SnapEx will take the average price of 4 other major exchanges to display. It will ensure maximum transparency and fairness.

Besides the above advantages, compared to BitMEX (the most popular margin exchange in the crypto community) SnapEx has a distinct advantage, making it an outstanding choice today.

That advantage is:

  • On Bitmex for trading with Bitcoin (BTC) and it has the inconvenience that if the trade wins, the price of BTC decreases, it may still be unprofitable. As for SnapEx for trading in USDT. Especially with the downtrend market, when the trade wins, you can always preserve your winnings. That’s Snapex’s advantage over BitMEX.
  • In addition, when you have a problem, with SnapEx you can contact the admin for support. As for BitMEX, you will not know who to contact.

Disadvantages of SnapEx exchange

  • The trading products are not diversified: This is understandable given that SnapEx is a newcomer to the market. Currently, they only offer Crypto derivatives trading and OTC trading.
  • The current trading pairs are also quite limited. Currently, there are only 8 trading pairs with USDT, including: BTC, ETH, LTC, XRP, EOS, ADA, BCH, ETC.
  • High Withdrawal Fee: SnapEx’s Withdraw fee is 10 USDT per withdrawal. This is a relatively high fee compared to many other exchanges.

Experience when trading at SnapEx exchange

With a period of about 1 month of using SnapEx continuously, I have learned a number of experiences. In addition, I also joined some groups to share experiences when trading at SnapEx, which gave me valuable lessons.

Readers who want to step into the path of margin trading on SnapEx should refer to the following experiences to avoid being “burned out” of their accounts in vain.

Determine the psychology when entering the SnapEx exchange

Psychology, will be a very important issue. It has a huge impact on your decision making.

Should be determined in advance, playing on margin will win or lose. Don’t expect like buying lottery tickets, will be rich overnight.

Need to be mentally strong, don’t let the losing trades get depressed and make incorrect decisions.

Need to be able to manage capital

When we first enter the SnapEx exchange, we often have too high expectations. That is, I always want to enter an order to win with a profit of one order up to 100%. Few people understand that, in order to enter an order with high leverage, the risk also increases many times. If you lose that order, you will definitely lose a lot.

There is a point that few people think about, is that if you enter an order and win every day with a profit of 10%, the loss will be very low. After 1 month like that, your account will increase significantly.

Eg: If the trade loses 10%, you must win again 11% to draw. If you lose 25%, you have to win about 34% to be able to draw. That is, if the trade loses too much, the possibility of winning is very difficult. With 1,000 USD lose 50% remaining 500 USD, so if you want to break even, you have to win 100% again (x2 of 500 USD). But at that time, traders often have psychological problems and easily lose the rest.

Use Demo trade and need to improve, learn

It is best for new players to trade Demo and invest time to learn the knowledge. With SnapEx, you will be given 10,000 USDT to play demo, so feel free to try it first.

When playing on a Demo account, you must put your mind like a real account, real money. If you lose a Demo account, you must know why you lost and feel like you lost real money. But don’t lose real money and then it will hurt, that’s too big a lesson for newcomers.

Especially new traders, at first, losing too much is easy to get discouraged and give up.

Page to share information about SnapEx exchange: https://www.facebook.com/snapexvietnam/

Group gossiping, sharing experiences: https://bit.ly/2CtDSYq

Should not use too much capital to play Margin

With margin trading, not only on SnapEx, you should not invest too much capital in it. In particular, do not borrow money to play on margin. Because its risk is very large, much larger than other types of trade.

Besides, when entering an order, you should not use the entire balance in your account to enter an order. Should allocate capital scientifically, avoid all-in and then lose it all.

Conclude

Above are all the experiences as well as what I have learned after using SnapEx floor. I hope that through this article, readers will partly understand the basic information, thereby making the right decision when participating in SnapEx.

If you find the article useful, please leave 1 like and 1 share to support Virtual Money Corner!

Good luck!

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