How To Short Origin Protocol (OGN)
- James Page
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Author: James Page - Last Updated on June 28, 2022
Summary: Shorting Origin Protocol is pretty straightforward, all you need is a crypto broker 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.
Table of Contents
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How to Short Origin Protocol
Shorting Origin Protocol can be done in 4 steps:
- Find a crypto exchange
- Sign up with the exchange
- Fund your account with fiat or crypto
- Short Origin Protocol
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 cryptocurrency exchange 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 easy and 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 Origin Protocol
These are the steps to follow to execute a short sell:
- Go to the search bar at the top, find Origin Protocol 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 Origin Protocol and click on “Open Trade”.
Once you’re ready to close the trade, hopefully when the value of Origin Protocol has dropped, go to your Portfolio, find the Origin Protocol 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 Origin Protocol!
Disclaimer:Â 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:Â 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 Origin Protocol (OGN)
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 Origin Protocol on Binance?
Yes, you can short Origin Protocol on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.
About Origin Protocol
Origin Protocol is an open-source web3 protocol. Its mission is to provide non-fungible tokens (NFTs), as well as decentralized finance (DeFi), to the masses. Origin Protocol was founded by the Origin team, who have been working in the blockchain space to create consumer-friendly products. This can take the form of NFTs for digital collectibles, or financial applications.
Origin Protocol strives to create crypto-centric applications that are user-friendly and crypto-centric. This will allow decentralized apps to be competitive with their centralized counterparts. Origin Protocol believes that decentralized financial services, although growing, are still too cumbersome, and complicated for average users. Crypto-savvy users still prefer mobile payments and credit card options for their convenience.
Origin Protocol focuses on enabling commerce using the blockchain in verticals like non-fungible tokens and decentralized financing.
Origin Protocol's mission is to unlock value from crypto-centric opportunities across multiple verticals.
One is its self service NFT sale. This allows creators and influentialrs to have more control over digital products and their content. Origin Protocol offers Origin Story, which allows creators to build custom storefronts. Origin Protocol can generate record-breaking NFTs in many areas, such as music, art, sport, retail, and many other. Creators can use the WYSIWYG editor to create Origin accounts. You can upload audio and video assets for your NFTs, build custom websites, and schedule NFT sale.
Origin Protocol has its Origin NFT Marketplace. Origin Protocol is striving to be the leader of NFT marketplaces. Origin-branded market aggregators will also be available, along with site-specific markets. Origin infrastructure can also be used for the creation of site-specific marketplaces. Origin's marketplace lets creators combine their NFTs into one place. This is similar to Opensea. Origin plans to add Ethereum layer-two scaling options to the marketplace in the near future.
Origin's stablecoin the Origin Dollar is another important part of Origin’s utility. This algorithmic stablecoin generates yields between 20% to 150% without the need for staking and lock-up periods. Origin Protocol allows users of OUSD to automatically earn yield.
OUSD integrates to two lending providers, Compound & Aave. OUSD integrates also with many AMMs including Curve. Uniswap. Sushiswap. and Balancer. Origin Protocol plans for future distribution of reward tokens earned by DeFi protocol holders to OUSD holders.
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