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

Sign up with eToro

Chiliz

While there are a lot of options out there for buying CHZ, 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 Chiliz 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 Chiliz can be done in 4 easy steps:

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

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

2. Create an account on the crypto trading platform

Let’s start with just signing up with eToro.

Sign up with eToro

The sign-up process is very easy, 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 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 Chiliz

Now for the actual shorting:

  • Starting off at the search bar at the top, find Chiliz 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 Chiliz and click on “Open Trade”.

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

Sign up with eToro

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 Chiliz (CHZ)

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 Chiliz on Binance?

Yes, you can short Chiliz 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 Chiliz

Chiliz is the top digital currency for sports and entertainment, according to the Maltese FinTech provider. It manages the blockchain-based sports entertainment platform Socios which allows users to be involved in the governance and management of their favorite brands. Socios.com has multiple fan tokens. Fan tokens can be used by sports clubs or associations to make connections with their supporters and generate new revenue streams.

Fan participation is possible through polls and surveys, which can be used to influence club-related decisions, such as what messages the captain should wear on an armband. The company seeks to bridge the gap between being a fan and an active one. Chiliz has established partnerships with some of world's most prominent sporting institutions, such as FC Barcelona and Manchester City, Juventus Turin, Paris Saint-Germain, and Manchester City. It also has partnerships with UFC, gaming and other organizations. CHZ fans can get fan tokens, and a stake in their club by purchasing them.

A limited supply of fan tokens is available to every sporting organization that uses Chiliz technology. They are initially offered as a FTO (fan token offer). These tokens are offered on a first-come-first-serve basis, with the opening price and fully diluted market cap disclosed by Chiliz beforehand. The native CHZ token, which is also used to purchase fan tokens, acts as the platform’s internal money. With their fan tokens, fans can vote on the Socios platform. This is possible thanks to smart contracts. Clubs decide how much influence they have. The decisions made can vary from the design of new jerseys to the final matchups for exhibition games.

Chiliz pioneered direct participation of average sports fans in the decision making process of clubs or organizations. Chiliz is constantly innovating new ways to engage fans, such as the Chiliz Blockchain Campus. This private crypto incubator aims at accelerating the adoption of blockchain technology across Asia and Europe. The company estimates that it is only 10% of its potential, though it will likely have between 80 and 100 teams as part of its network before the end of 2021.

Related Posts: