Quick summary: Our recommendation is to use eToro to short Ankr. They have the most popular cryptocurrencies on offer, great support, and have an easy system for shorting cryptocurrencies in general.

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Ankr

While there are a lot of options out there for buying ANKR, shorting is a different story. Luckily for us here in Australia, we do have a few crypto brokers and exchanges that allow for CFDs and shorting.

One of those brokers is eToro, which we’ll be using for this guide. Let’s get started!

How to Short Ankr in Australia

A quick recap first on what shorting actually is: The main objective of shorting or short selling is to make a profit (of course). The idea is to sell a stock/cryptocurrency hoping it will drop in value so you can buy it back later for cheaper, thus creating a net profit.

Shorting Ankr can be done in 4 easy steps:

  1. Choose a crypto broker or exchange
  2. Create an account
  3. Fund your account
  4. Short Ankr

1. Choose a crypto 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 broker to follow along, they all work very similarly.

2. Create an account on the cryptocurrency trading platform

Let’s start with just signing up with eToro.

Sign up with 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 eToro account

Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short Ankr

Now for the actual shorting:

  • Starting off at the search bar at the top, find Ankr by entering the name or symbol.
  • Then 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 sell the stock.
  • Enter the amount for which you want to sell Ankr and click on “Open Trade”.

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

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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 Ankr (ANKR)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more complex compared to eToro, they do have more cryptocurrencies on offer.

Frequently Asked Questions

Can I short Ankr on Binance?

Yes, you can short Ankr on Binance. They have over 300 cryptocurrencies on offer and specialise in the crypto market. They also have a great app and competitive fees.

About Ankr

Ankr is a provider of decentralized blockchain infrastructure. It operates over 50 Proof of-Stake networks and has a range of nodes around the world. This infrastructure is essential for the growth and development of the crypto-economy. It also powers a complete suite of multichain tools for Web3 customers.

Ankr provides complete blockchain developer solutions. It includes traditional APIs. A decentralized multi-chain network with public RPC Nodes allows for access to blockchain data and code execution. Ankr Scan can view on-chain information across multiple blockchains.

Ankr Earn makes it simple and easy to stake, liquid stake and find other yield-earning opportunities for any crypto investor. Ankr provides the most efficient and decentralized staking infrastructure. This solution aims at solving the capital inefficiency of Proof of Stake network and similar blockchain consensus mechanisms.

Ankr offers tutorials, learning tools and documents that will help anyone become a better user of or developer of blockchain-based system.

Ryan Fang (30 Under 30 laureates in Forbes) and Chandler Song (the co-founders of Ankr) founded the company in 2017, shortly after they graduated from the University of California at Berkeley. They were also early participants in Blockchain at Berkeley. Stanley Wu, his third co-founder and Chandler were working at Amazon Web Services as an engineer. Together they set out to create the most decentralized and scalable Web3 infrastructure.

Ankr has a unique position as a decentralized web service provider and node infrastructure. This allows DApps, blockchains and other applications to seamlessly communicate with each others. It also gives users the opportunity to earn more by delegating assets to validator nodes. This is in contrast with centralized solutions like AWS blockchain and many others.

ANKR, the native utility token, is required for payments and transactions for many Ankr services. It also serves as platform governance. ANKR can be used as an ERC-20 or BEP-2 token and is also available on the Polygon (Avalanche) and Fantom network.

The ANKR token is expected to play a key function in enabling institutions and independent node providers monetize their excess capacity. Node consumers will benefit from a pay as you go model that disrupts traditional blockchain API provider forcing them into oversubscription-based paid plans.

Ankr employs auditor nodes during the block validation process for all supported blockchains in order to ensure network quality and remove any unreliable nodes or actors.

Ankr uses reputation-based systems to assess all node contributions. This ensures total security and only good nodes are in operation. Ankr also uses performance tests to distribute computational resources fairly based upon node workloads.

For off-chain data processing, Native Oracle System, also known as NOS, is the system that relays information between off and on-chain smart contract data. The NOS is highly secure and requires strong authentication. TLS 1.2 and 1.3 are used for Data Source Security. Perfect Forward Security or PFS is used for the Data Source Security.

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