What is the meaning of Buying/Selling Futures in crypto?

[Fidelia]

People always talk about buying futures and the same vein, they talk about selling futures. What is futures in crypto. And what does it mean to buy and sell them. Explanation should be what a layman would be able to understand.

 

[Suba]

Buying/Selling Futures in crypto is a crypto trading model without having to have physical assets, so you don't need to buy/sell real crypto but only contracts, for example, in the next few days you predict the price of Bitcoin will rise to the top, then you can open a long position and vice versa, leverage options are available so you can increase your profit potential.

 

[Augusta]

A futures contract is an agreement between two parties to buy or sell an asset in this case, crypto at a specific price and date in the future.

 

[riberet19]

A futures contract (or future) in trading is a legal agreement between two parties to buy or sell an asset at a specific future date for a price agreed upon today. These contracts are traded on organized markets called futures markets.

 

[kit_hung]

A futures contract (or future) in trading is a legal agreement between two parties to buy or sell an asset at a specific future date for a price agreed upon today. These contracts are traded on organized markets called futures markets.

Futures are like a deal of “I’ll buy you this thing tomorrow, but we agree on a price today.” It’s like betting on tomorrow’s price. People do this with oil, gold, even food. It can get you high if you play smart, but it’s also easy to burn. Don’t jump in without understanding the game. Learn, ask questions, then go in with a smart mind. The risk is there, but the reward is also real.