Summary: Shorting Livepeer is pretty straightforward, all you need is a cryptocurrency 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 Livepeer
Shorting Livepeer can be done in 4 steps:
- Find a crypto exchange
- Sign up with the exchange
- Fund your account with fiat or crypto
- Short Livepeer
1. Find a crypto 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 cryptocurrency trading platform that allows for short selling.
2. Sign up with the crypto exchange
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 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 Livepeer
These are the steps to follow to execute a short sell:
- Go to the search bar at the top, find Livepeer 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 Livepeer and click on “Open Trade”.
Once you’re ready to close the trade, hopefully when the value of Livepeer has dropped, go to your Portfolio, find the Livepeer 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 Livepeer!
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 Livepeer (LPT)
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 Livepeer on Binance?
Yes, you can short Livepeer on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.
Livepeer is a fully decentralized streaming video network protocol. It was launched in 2017. The platform will be an economically viable and efficient blockchain-based alternative to central broadcasting solutions for all broadcaster companies.
Livepeer's whitepaper states that the live streaming and broadcasting industry are expanding rapidly. The company plans to ride this wave to introduce decentralization and decentralization. Livepeer allows broadcasters to upload their work and takes care of reformatting, distribution and distribution to users and streaming services.
Livepeer is a unique platform that aims revolutionize the broadcasting industry through the use of blockchain technology. The platform is open-source and allows both developers and users to take part in its management and improvement. Livepeer hopes to accelerate the development of broadcasting through the use of high-quality digital cameras to produce video content. Livepeer offers crypto-economic incentives and decentralized computing power to enable users to bootstrap and participate.
Livepeer is rapidly becoming an industry leader because it allows users the opportunity to participate in many different ways. You can use the platform to consume content as you go, auto-scaling and social video services. It also offers uncensored live journalism and video-enabled applications. Livepeer has the potential to transform live video streaming and is fast becoming an industry leader.
Livepeer uses an altered version of a delegated consensus (DPoS), as it is built on Ethereum. A DPoS mechanism does not allow for mining. Instead, the number and type of coins staked determines the validity of the new blocks.
This is what sets Livepeer apart from the consensus mechanisms that Bitcoin uses. While Bitcoin's proof–of-work (PoW), mechanism, uses a large amount electric and computing power, the DPoS system is more ecologically conscious and can be scaled easily. LIvepeer can also benefit from the extensive DApp universe established by Ethereum blockchain. This increases the network's accessibility.