How To Short Fetch.ai (FET)

    • James Page

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

Summary: Shorting Fetch.ai 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.

Global: Sign up with eToro

USA: Sign up with eToro US

Fetch.ai

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 Fetch.ai

Shorting Fetch.ai can be done in 4 steps:

  1. Find a cryptocurrency exchange
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short Fetch.ai

1. Find a cryptocurrency trading platform

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.

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 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 Fetch.ai

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

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

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

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 Fetch.ai (FET)

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 Fetch.ai on Binance?

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

About Fetch.ai

Fetch.AI was established in 2017 and launched via IEO at Binance in March 2019. Fetch.ai provides open access to AI technology through a permissionless network that anyone can use to connect to secure datasets and execute tasks using its global network. Fetch.AI can be used to optimize DeFi trading services and transportation networks (parking, mobility, smart grids), travel -- basically any digital system that relies heavily on large-scale datasets.

Fetch.ai's utility token FET was developed to find, create digital twins, deploy them, and train them. It is an essential component of smart contracts.

FET can be used to enable users to develop and deploy their digital twins on the network. Developers, by paying with FET tokens, can access machine-learning-based utilities to train autonomous digital twin and deploy collective intelligence on the network.

FET tokens are used to enable validation. This allows network validation and reputation to be enhanced.

Fetch.ai technology stack includes four distinct elements. They are:

The Digital Twin Framework is a set of modular components that can be used to create digital twins.

The Open Economic Framework provides search and discovery functions for digital twins.

The Digital Twin Metropolis -- a collection digital twins smart contracts running on a WebAssembly(WASM), virtual machine that keeps an immutable list of agreements.

Fetch.ai Blockchain uses multi-party cryptography and games theory to create secure, censorship-resistant consensual systems. They also provide rapid chain-syncing that supports digital twin applications.

When it comes down to the core components of the platform, there are two: the learner. Each participant in the experiment is the learner. They each represent a unique private data set and machine learning system. The global market is also a result of collective learning experiments, where the machine intelligence model is shared and trained by all learners. Next, the Fetch.ai Blockchain allows smart contracts to be created and managed in a secure manner. A decentralized data layer that is based IPFS allows sharing of machine learning weights across all participants.

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