Difference between revisions of "Mushino"
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Latest revision as of 01:52, 18 May 2020
Mushino is a bitcoin futures platform. Users can go long or short on a wide variety of bitcoin-settled futures contracts.
The service features a unique ladder interface that has become particularly popular among scalpers and daytraders.
Go long on Bitcoin
Mushino allows users to take a long position on bitcoin. Users can do so by depositing bitcoins to their personal deposit address. A deposit usually takes less than 20 minutes to complete, making the platform much faster to get started with than futures platforms in traditional finance. Users may also claim a $2 welcome bonus that will allow them to get started instantly.
Once the deposit has been completed, a long position can be opened. This is done by submitting a long order, and having the order filled in the market. Once filled, the user will have an open long position. The user will then profit if bitcoin rises in value compared to the US dollar. If bitcoin loses value compared to the US dollar, the user will lose money instead.
Go short on Bitcoin
To go short on Bitcoin, the user simply needs to submit a short order instead. Once the order has been filled, the user will have a short position.
Closing a position
Once the user wants to exit his position, the user submits a close order. Once the order is filled, the user's position is considered closed. All profits from the position are then credited to the user's balance. The user may then withdraw any profits that he made, or use them to open a new position.
Using Bitcoin to go long or short on altcoins
Using Mushino's index futures, the user may also go long or short on altcoins.
An index on Mushino is a collection of altcoins. The user may go either long or short on this index. This way the user will be long or short on multiple altcoins at once, diversifying the portfolio of the user.
The order books on Mushino are built like ladders. This type of interface is extremely popular among scalpers and daytraders, as it lets them submit and cancel orders very quickly.
To submit an order on Mushino, traders click somewhere on the ladder.
If the trader clicks on the left side of the ladder, the trader submits a long order.
If the trader clicks on the right side of the ladder, the trader submits a short order.
If the trader clicks in the middle of the ladder, the trader submits a 'close order.
Mushino has support for custom order quantities, order types and keyboard shortcuts.
The Mushino Position Editor allows traders to edit their stop loss and take profit in real time.
When the user places an order for the purpose of opening a new position, the user sets aside a certain amount of bitcoin as margin. The margin can be thought of as a security deposit - the purpose of it is to ensure that the user cannot just withdraw all of his bitcoin and then run away, in the case that the price moves against him. The user has the freedom to choose the amount of margin that he wants to set aside for the position, given that he sets aside an amount that is equivalent to at least 0.67 percent of the size of his position. The relationship between the chosen amount of margin and the size of the position is known as leverage. Mushino supports up to 150x leverage, giving the user the option to open a position with a size that is up to 150 times greater than the amount of margin deposited. The use of leverage is entirely optional. The user may choose to use 1x leverage - in that case he will have to set aside enough margin to cover the entire size of the position.
Mushino operates with a concept called isolated margin. Isolated margin ensures that the user can never lose more than what he puts in as margin. He will never end up in a situation where he has a negative balance, or owes the platform money. If the price moves rapidly against the user, and the user's margin cannot cover the loss, the user's position is liquidated. Once liquidated, the position will be reduced in size by 10% or $10000 (whichever is greater). In some cases, the position will be closed entirely. In those cases, the user is able to open a new position immediately afterwards. All profits that may arise from selling off a part of the user's position are credited to the balance of the user.
Mushino stores more than 99.9% of their users' bitcoins in geographically distributed multisignature cold wallets. Geographically distributed multisignature cold wallets are extremely hard to compromise, as they require attackers to simultaneously compromise multiple physical locations, in multiple different parts of the world.
The platform is engineered to be solvent at all times - if the platform becomes even 0.001% insolvent, the platform will shut down automatically.
Advanced security features such as Two Factor Authentication (2FA), Device Whitelisting, Withdrawal Limits and IP Pinning are utilized to protect the user's account from ever being compromised.