How To Short Build and Build (BNB)

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Shorting Build and Build is pretty straightforward, all you need is a cryptocurrency trading platform 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.

Global: Sign up with eToro

USA: Sign up with eToro US

Build and Build

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 Build and Build

Shorting Build and Build can be done in 4 steps:

  1. Find a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short Build and Build

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 broker that allows for short selling.

etoro crypto

2. Sign up with the cryptocurrency exchange

Let’s start with creating an account on eToro.

Global: Sign up with eToro

USA: Sign up with eToro US

 

eToro sign up form

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 Build and Build

These are the steps to follow to execute a short sell:

  1. Go to the search bar at the top, find Build and Build by entering the name.
  2. On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  3. At the top of the trading interface: Click on sell to short the crypto.
  4. Enter the amount for which you want to sell Build and Build and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of Build and Build has dropped, go to your Portfolio, find the Build and Build 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 Build and Build!

Global: Sign up with eToro

USA: Sign up with eToro US

 

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.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

 

Where to Short Build and Build (BNB)

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 Build and Build on Binance?

Yes, you can short Build and Build on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.

About Build and Build

Binance Coin is an exchange-based token created and issued on the cryptocurrency exchange Binance. BNB was first created on Ethereum Blockchain in July 2017, as an ERC-20 token. It was transferred over to Binance Chain February 2019 and became the native cryptocurrency of Binance Chain.

Binance Coin has seen tremendous interest growth over the years. BNB has seen a number of token burn events that have boosted its price and made it one of the most popular cryptocurrencies by market capitalization. BNB can be traded across more than 300 trading pairs on 120 exchanges.

Binance, the cryptocurrency exchange was established by Changpeng Zhao (ICO) and He Yi in July 2017. Binance was established in July 2017 with an Initial Coin Offering (ICO). It has since grown to become one the world's largest cryptocurrency exchanges in terms of market share and volume traded.

The Binance DEX is a decentralized exchange that separates the spot market, futures market, and the Binance DEX.

BNB was initially part of Binance's ICO. Binance states that BNB can be used on Binance to pay discounted fees, and it also functions as the native token for the Binance Chain.

BNB has now added more cases to the Binance platform, in addition to the original use cases. Here is an overview of BNB's use cases:

A 25% Discount on Trading Fees

Binance Account Tier-Account holders with a BNB account balance and trading volume exceeding certain thresholds for 30 days are entitled to VIP tiers which include additional discounts and perks.

Dust Conversion - Users have the option to convert non-tradeable amounts, such as dust, from their Binance account into BNB.

IEO Lottery- Binance's initial exchange offerings (IEO) use lottery allocations determined by the BNB that users have.

Binance Chain native token - BNB is used to fund fees on Binance Chain, much in the same way that Ether (ETH is used to cover fees on Ethereum Blockchain). BNB is required for trading on Binance DEX.

BNB can also used to pay for travels and credit card fees. This is the full list.

BNB can be used in many other ways, however these are not all covered. BNB can still be used to pay for goods/services, provided that the merchant accepts it.

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