Summary: Shorting Ankr is pretty straightforward, all you need is a crypto exchange that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.
We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.
Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.
It might sound a bit complex but don’t worry, it’s a lot easier than you might think.
How to Short Ankr
Shorting Ankr can be done in 4 steps:
1. Find a cryptocurrency exchange
As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.
You can, of course, use any other crypto exchange that allows for short selling.
2. Sign up with the crypto trading platform
Let’s start with creating an account on eToro.
The sign-up process is very quick, as is the verification that needs to be completed afterwards so you can get started.
3. Funding your eToro account
Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.
4. Short Ankr
These are the steps to follow to execute a short sell:
- Go to the search bar at the top, find Ankr by entering the name.
- On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
- At the top of the trading interface: Click on sell to short the crypto.
- Enter the amount for which you want to sell Ankr and click on “Open Trade”.
Once you’re ready to close the trade, hopefully when the value of Ankr has dropped, go to your Portfolio, find the Ankr trade, and click on the red cross to close the trade.
If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.
Congratulations, now you know how to short Ankr!
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
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Where to Short Ankr (ANKR)
Aside from eToro, the other major exchange you can use is Binance.
While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.
Frequently Asked Questions
Can I short Ankr on Binance?
Yes, you can short Ankr on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.
Ankr operates a distributed blockchain infrastructure provider. They have over 50 Proof of Stake networks. This infrastructure is used to drive growth in the crypto economy and power a wide range of multi-chain tools that Web3 users can use.
Ankr offers complete solutions to developers of blockchain, including traditional APIs.
Ankr Earn allows any crypto investor to easily stake, liquid stake, and other opportunities for yield-earning potential. Ankr's scalable, decentralized staking solution solves capital inefficiency of Proof of Stake and similar blockchain consensus mechanism.
Ankr provides tutorials, learning materials, and documentation that can help anyone learn how to use or develop blockchain-based systems.
Ryan Fang (Forbes 30under 30 laureates) and Chandler Song (co-founders) founded Ankr shortly after receiving their degrees from the University of California at Berkeley. Stanley Wu was also working as an engineer for Amazon Web Services. At the time, Chandler was working with Ankr. Together, they embarked on a mission of building the most decentralized Web3 infrastructure.
Ankr is a unique node infrastructure and decentralized Web services provider. This allows DApps or blockchains to run and communicate seamlessly with each other while also allowing users to get more from their assets by easily delegating them to validator zerodes. This is in direct contrast to AWS Blockchain or other centralized solutions.
ANKR can be used for both transactions and payments as well platform governance. ANKR can be used to purchase ERC-20, BEP-2 or BEP-20 tokens. It is also available on Fantom, Avalanche and Polygon networks.
The ANKR token has a fundamental function. It allows independent and institutional node provider to monetize nodes' excess capacity. This will allow node consumer to enjoy a pay–as-you go model. This will disrupt traditional blockchain API providers, forcing users into expensive plans that require oversubscription.
Ankr uses auditors nodes to validate blocks on all supported blockchains. This is done to ensure network quality, and any bad actors or nodes performing poorly are immediately removed.
Ankr utilizes a reputation-based system which evaluates all contributions to ensure security. Ankr also uses performance testing for fair distribution and balance of computational resources based both on node workloads, as well as Intel SGX encryption memory encryption, to ensure the highest security against potential software or hardware attacks.
The Native Oracle System, or NOS, provides information between off chain data and on-chain smart data. The NOS has strong authentication requirements and is extremely secure. TLS 18.104.22.168 and Perfect Forward Security are used to protect the Data Source Security.