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

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SushiSwap

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

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

1. Choose a cryptocurrency 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 crypto exchange

Let’s start with just signing up with eToro.

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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 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 SushiSwap

Now for the actual shorting:

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

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

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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.

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Where to Short SushiSwap (SUSHI)

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 SushiSwap on Binance?

Yes, you can short SushiSwap 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 SushiSwap

Sushi, a DeFi protocol that's completely community-driven, offers delicious interest in your crypto assets.

Sushi allows you to take advantage of passive-income-generating DeFi tools, such as liquidity provision, yield farming and stake. Sushi's decentralized nature as an AMM, or Automated Market Maker, means that it is easier to execute cryptocurrency trades. Additionally, all fees are paid to users who provided liquidity.

Sushi has many hidden gems that are not available on similar exchanges. It is an excellent way to uncover new, exclusive opportunities. Sushi is DeFi's favorite!

SUSHI token is a governance token that allows community governance over the Sushi eco-system. SUSHI holders are able to use their tokens in order to vote on platform proposals for further ecosystem initiatives.

Participation in the yield farming programme is a way to get your SUSHI token.

SUSHI tokens can also be staked on various platforms such SushiBar or used as collateral for platforms like Sushi's Yearn ecosystem partner Aave.

Sushiswap's launch saw the SUSHI token trading as low as $0.50 due to Chef Nomi leaving the project along with the development fund. After this incident, the project leadership changed to 0xmaki. The community saw the token trading at $23 at an unprecedented high. This represents a staggering 4600% ROI growth since the lows. Although the token price fluctuates due to speculation, trading fees also have value for the SUSHI token. SUSHI holders are able to redeem xSUSHI to get 0.05% in trading fees.

In September 2020, Chef Nomi (an anonymous developer) announced Sushi. SushiSwap (also known as SushiSwap) was released in September 2020 by an anonymous developer. The company, Chef Nomi, called it an AMM (Automated Marketplace Maker), and attracted significant industry attention. It was a platform idea that spoke to the spirit of true decentralization.

After building a large following in the DeFi community chef Nomi felt that his work was complete and decided to exit the Sushi Development Fund by removing $14 Million in SUSHI tokens. This is the amount Chef Nomi felt he deserved for the development of the platform. Many felt that this was against his community-driven platform vision. So, Chef Nomi gave back the funds and asked the community to determine the amount he deserved.

Many in the industry believed that this incident had damaged Sushi’s reputation enough to end their support for the platform. 0xMaki, a Sushi believer from the beginning, took the lead role and helped build the platform to amazing heights. In fact, the platform has surpassed Uniswap in total platform liquidity. This incredible comeback has made many people admir the Sushi community as well as the team responsible for expanding the platform beyond its original platform.

Sushi, still headed by 0xMaki has a greater team than ever of talented individuals who have created innovative products such as Mirin, Mirin, MISO and BentoBox. Sushi's history is only beginning.

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