How could you make money with a futures contract?

I'm a bit lost how someone could make money with a futures contract. My understanding is that it could be used to protect against the price moving in the opposite direction as I hope based on my holding but wouldn't it simply offset any gains or losses in an equal amount.

For example lets say I hold 10BTC and the current price is $10K/BTC. If I buy a futures contract that says I will sell 10 BTC for $10K/BTC and then the price goes to $11K/BTC then I make money on my holdings but lose it on the futures contract.

What am I missing here?

submitted by /u/Source98
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