How To Short Chiliz (CHZ)

    • James Page

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

Summary: Shorting Chiliz is pretty straightforward, all you need is a crypto 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

Chiliz

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 Chiliz

Shorting Chiliz can be done in 4 steps:

  1. Find a crypto trading platform
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short Chiliz

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 trading platform that allows for short selling.

etoro crypto

2. Sign up with the crypto trading platform

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 easy and quick, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your 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 Chiliz

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

  1. Go to the search bar at the top, find Chiliz 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 Chiliz and click on “Open Trade”.

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

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 Chiliz (CHZ)

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 Chiliz on Binance?

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

About Chiliz

Chiliz is the premier digital currency for sport and entertainment from the eponymous FinTech company based in Malta. It runs the blockchain-based platform Socios that allows users participation in the governance for their favorite sports brands. Socios.com provides an example of multiple fan tokens. Fan tokens provide a way for associations and sports clubs to connect with their followers and unlock new revenue streams.

In surveys and polls, for example, fans can help to influence club decisions. The company hopes to bridge the gap that exists between an active fan and a passive one. Chiliz has partnerships with some major sporting institutions worldwide, including FC Barcelona (Manchester City), Juventus Turin (Julian Turin) and Paris Saint-Germain. It also has partnerships to the UFC as well as gaming organizations. CHZ can be purchased by fans to gain access to tokens for their fan club.

Every sports organization using Chiliz technology is limited in the supply of fan tokens. These tokens can be offered at an initial FTO. These tokens are offered on a first-come-first-serve basis, with the opening price and fully diluted market cap disclosed by Chiliz beforehand. The native CHZ token acts as the platform's currency and can be used for fan token purchases. Fans can then vote using their fan tokens on the Socios Platform. This process is made possible by smart contracts. Clubs determine the influence that fans have. This can include deciding the team matchups or designing new jerseys.

Chiliz was the first to allow average fans to participate directly in the decision-making process for clubs and organizations. Chiliz has been constantly creating new ways that fans can engage with its company, including the Chiliz blockchain campus, which is a privately owned crypto incubator focused on increasing the adoption of blockchain technology in Asia and Europe. The company estimates it to be at around 10% of its full potential, despite having 80-100 teams in its network by the year 2021.

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