Where to Short BTC/ETH | Users Seek Best Options
Edited By
David Lee
A surge of inquiries has emerged on forums regarding shorting Bitcoin (BTC) and Ethereum (ETH) as fees skyrocket. Users struggle with outrageous costs, leading many to explore alternative trading platforms.
Struggling with high fees
Users expressing frustration over high fees are noting that platforms like Wealthsimple impose considerable conversion fees, reaching nearly 13%. This greatly impacts the potential for profitable swing trading.
Exploring alternatives
Comments have pointed toward Kraken Futures as a viable option for Canadians wanting to short cryptocurrencies. One user remarked, "Kraken Futures is probably your best bet in Canada without going full offshore." Another noted that Interactive Brokers' crypto ETFs offer better spreads for those wishing to steer clear of unregulated options.
"Shorting BTC/ETH with fees that high, you’re already fighting uphill," one commenter expressed.
Key Points on Shorting Options
Kraken Futures: Suggested as a top choice for Canadian traders looking to short BTC and ETH.
Interactive Brokers: Mentioned for tighter spreads with regulatory compliance.
Wealthsimple: Criticized for excessive fees, making profitable trading nearly impossible.
This debate over the best trading platform highlights a growing concern among traders as they navigate the challenges of entering the crypto market.
What Lies Ahead for Shorting Crypto
There’s a strong chance that as the crypto market matures, platforms will adapt to the growing demand for efficient shorting options. Market experts estimate that by late 2026, we could see a 20% increase in registered users on platforms like Kraken Futures, particularly as fees remain a persistent pain point. As traders become more vigilant, there’s also a possibility for regulatory bodies to step up oversight, which could encourage innovation in fee structures designed to attract more people into the market. Such changes could reshape the landscape of crypto trading, making it more accessible and transparent.
A Lesson from the Past: Trading Quirks of the Early Internet
This situation evokes the early days of online trading when people faced similar frustrations with high fees and limited platforms. Just as investors turned to alternative stock exchanges to bypass onerous service charges, today’s crypto traders may soon see a wave of new platforms emerge in response to the criticisms faced by existing services. Those early pioneers of the Internet, navigating slow connections and inconsistent pricing, forged paths that ultimately led to a robust digital economy—suggesting that today’s challenges might also lead to a more innovative future in the crypto space.