CRYPTONAIRE
WEEKLY CRYPTO investment journal
CONTENTS WEEKLY CRYPTOCURRENCY MARKET ANALYSIS...............................................................................................................5 TOP 10 COINS........................................................................................................................................................................................6 Top 10 Coins by Total Market Capitalisation ...................................................................................................................6 Top 10 Coins by Percentage Gain (Past 7 Days) ...........................................................................................................6 Top 10 Coins added to Exchanges with the Highest Market Capitalisation (Past 30 Days) ..........................7 CRYPTO TRADE OPPORTUNITIES...............................................................................................................................................9 PRESS RELEASE..................................................................................................................................................................................14 JUNCACASH CRYPTO AND FINTECH SERVICES TO ENABLE PAYMENT AND EXCHANGES FOR THE PHILIPPINES......14
CRYPTOCURRENCY TRADING PLATFORM ATANI RAISES $6.25M IN SEED FUNDING..................................17 ADVERTISE WITH US........................................................................................................................................................................19 ADVANCEMENTS IN THE CRYPTOCURRENCY WORLD.................................................................................................20 Dogecoin at $0.44 embraces ‘literal moon’ ahead of Elon Musk SpaceX launch...............................................20 TIME Magazine Now Accepts Crypto for Digital Subscriptions ..................................................................................21 China’s Central Bank Looking to Regulate Bitcoin as an Investment Vehicle.......................................................23 Bank Of England And HM Treasury Launch CBDC Task Force to Evaluate Opportunities & Risks..............24 Fortress Group CEO Says Bitcoin Not An Environment Hazard..................................................................................26 Coinbase Considering Over 100 Altcoins After Boosting Cardano and Enjin Coin............................................27 DMG Purchases 3,600 ASICs in North American Bitcoin Mining Expansion ........................................................29 SEC loses a battle to win the war? Ripple dissociates from pumping XRP............................................................30 1 million crypto traders see nearly $10 billion in liquidations........................................................................................32 Gold Has This One Advantage Over Bitcoin, Says Crypto Firebrand Max Keiser ..............................................33 IS DEFI THE FUTURE OF FINANCE- STATERA A NEW TYPE OF DIGITAL ASSET ................................................................34 BITCOINVEND THE NEXT STEP FOR BITCOIN & CRYPTO ADOPTION .................................................................................39 HOW DEFIBIDS REIMAGINES ONLINE AUCTION FOR DEFI?....................................................................................................45 A COMPREHENSIVE GUIDE TO THE QOINIQ CRYPTOCURRENCY TRADING PLATFORM ..............................................49
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Editor’s Letter
Crypto exchange Coinbase had a stellar listing on April 14 as briefly it was valued at $112 billion, finding a place among the top 100 valuable companies in the United States. Right from its debut, celebrity fund manager Cathie Wood’s ARK funds have been on a buying spree, purchasing $246 million worth of Coinbase stock on Wednesday, $110 million worth of the stock on Thursday, and $64 million worth of the stock on Friday. The successful listing of Coinbase propelled Bitcoin and several cryptocurrencies higher but the star performer was Dogecoin, which rose to become the fifth-largest cryptocurrency in terms of market capitalisation. Dogecoin’s $50 billion market cap makes it more valuable than several well-known US companies such as Ross stores, Walgreens Boots Alliance, and Las Vegas Sands.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE IS DEFI THE FUTURE OF FINANCE- STATERA A NEW TYPE OF DIGITAL ASSET, BITCOINVEND THE NEXT STEP FOR BITCOIN & CRYPTO ADOPTION, HOW DEFIBIDS REIMAGINES ONLINE AUCTION FOR DEFI? & A COMPREHENSIVE GUIDE TO THE QOINIQ CRYPTOCURRENCY TRADING PLATFORM Bitcoin behaved the way we had projected in the previous analysis. Traders who had bought on the breakout and trailed their stops higher according to our suggestion could have exited at a small profit.The biggest cryptocurrency broke out of the overhead resistance at £44,238 and made a new all-time high at £47,240.05 on April 14. However, the bulls could not sustain the price above £44,238 and the BTC/GBP pair dipped back below this level on April 17. This resulted in sharp selling by short-term traders and the price plunged below the 50-day SMA on April 18. Although the bulls purchased the initial dip, they have not been able to continue the recovery. The 50-day SMA, which had been acting as a major support, is now acting as a resistance. Selling continued on April 19 and the pair commenced its journey toward the next support at £36,777. This is an important support to watch out for because if it cracks, the selling could intensify and the pair may drop to £31,005. The 20-day EMA has turned down and the RSI has slipped into the negative zone, indicating advantage to the bears. However, if the bulls purchase the drop to £36,777, the pair could remain range-bound for a few days. The break above the 20-day EMA will be the first sign that the selling could be over and the bulls are back in command. Lastly please check out the advancement’s happening in the cryptocurrency world.
Karnav Shah Co-Founder, CEO & Editor-in-Chief
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CRYPTONAIRE
WEEKLY CRYPTO investment journal
CRYPTONAIRE WEEKLY After mentoring thousands of crypto traders around the globe, we have culminated all of the consistent and ongoing requirements of crypto-traders into one place. Our Cryptonaire Weekly magazine includes expert technical analysis, providing trading opportunities to our subscribers as well as fundamental analysis so our readers can keep up to speed with the current developments in the crypto markets. Not only do we provide the information necessary to trade active cryptocurrencies on the exchanges, but we also take a look at ICOs to help you find those golden projects with real value! No longer will you have to rely on multiple sources to keep on top of the markets, we deliver everything directly to your inbox each and every week.
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WEEKLY CRYPTOCURRENCY MARKET ANALYSIS Hello, Crypto Traders welcome to this week’s 178th edition of Cryptonaire Weekly. The overall Cryptocurrency Market Cap stands at $1.96 Trillion. We have seen a $130 Billion decrease in the Market Cap since the last week. Bitcoin price is currently around $55,000 from $60,550 since last week and has decreased by 9.17% and Ether price is now at $2,120 from $2,162 since last week and has decreased by 1.94%. The current market cap for bitcoin is $1.24 Trillion, and for Altcoins, the current market cap is $720 Billion. Crypto exchange Coinbase had a stellar listing on April 14 as briefly it was valued at $112 billion, finding a place among the top 100 valuable companies in the United States. Right from its debut, celebrity fund manager Cathie Wood’s ARK funds have been on a buying spree, purchasing $246 million worth of Coinbase stock on Wednesday, $110 million worth of the stock on Thursday, and $64 million worth of the stock on Friday. The successful listing of Coinbase propelled Bitcoin and several cryptocurrencies higher but the star performer was Dogecoin, which rose to become the fifthlargest cryptocurrency in terms of market capitalisation. Dogecoin’s $50 billion market cap makes it more valuable than several well-known US companies such as Ross stores, Walgreens Boots Alliance, and Las Vegas Sands. Dogecoin’s rally signals that investors have thrown caution out of the window and are buying irrationally, hoping to turn into millionaires overnight. Most smart investors will dump their Dogecoin to these newbie traders at higher levels who will end up with massive losses when the mania subsides. When things start to look like a bubble, professional investors close their positions and that could be one of the reasons for Bitcoin’s drop of about 20% during the weekend.
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Percentage of Total Market Capitalization (Dominance)
Bitcoin
52.21%
Ethereum
12.46%
Binance Coin
3.82%
XRP
2.95%
Dogecoin
2.66%
Tether
2.48%
Cardano
1.90%
Polkadot
1.58%
Litecoin
0.84%
Bitcoin Cash
0.83%
Others
18.29%
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TOP 10 COINS Top 10 Coins by Total Market Capitalisation
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Top 10 Coins by Percentage Gain (Past 7 Days)
Top 10 Coins added to Exchanges with the Highest Market Capitalisation (Past 30 Days)
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CRYPTO TRADE OPPORTUNITIES BITCOIN - BTC/GBP
Bitcoin behaved the way we had projected in the previous analysis. Traders who had bought on the breakout and trailed their stops higher according to our suggestion could have exited at a small profit. The biggest cryptocurrency broke out of the overhead resistance at £44,238 and made a new all-time high at £47,240.05 on April 14. However, the bulls could not sustain the price above £44,238 and the BTC/GBP pair dipped back below this level on April 17. This resulted in sharp selling by short-term traders and the price plunged below the 50-day SMA on April 18. Although the bulls purchased the initial dip, they have not been able to continue the recovery. The 50-day SMA, which had been acting as a major support, is now acting as a resistance. Selling continued on April 19 and the pair commenced its journey toward the next support at £36,777. This is an important support to watch out for because if it cracks, the selling could intensify and the pair may drop to £31,005. The 20-day EMA has turned down and the RSI has slipped into the negative zone, indicating advantage to the bears. However, if the bulls purchase the drop to £36,777, the pair could remain range-bound for a few days. The break above the 20-day EMA will be the first sign that the selling could be over and the bulls are back in command.
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ETHEREUM - ETH/GBP
We had projected a target of £1,872 for Ether and it rallied to £1,850 on April 16. Traders who had bought and sold on our recommendation made huge profits within a short time, both entering and exiting at the right time. Technical traders seem to have booked profits after Ether reached its target objective. Although aggressive bulls seem to have purchased the dip on April 18, they could not sustain the price above the 20-day EMA. This shows that traders are booking profits on rallies. The ETH/GBP pair has dropped to the critical support at £1,456.18. If this support cracks, the next stop could be the trendline. The bulls will try to stall the decline between £1,456.18 and the trendline. The extent of the next rebound will give insight into how successful they have been. A weak rebound will indicate a lack of buyers and the bounce is likely to be sold into. If the trendline support gives way, the pair could extend its decline to £1,130. Conversely, a strong rebound off £1,456.18 could keep the pair range-bound for a few more days. The bulls will gain the upper hand on a break above £1,850. We do not find any reliable buy setups at the current level, hence we are not suggesting any trade in it.
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RIPPLE - XRP/GBP
We recommended traders to book profits at £1.12 in our previous analysis as we anticipated a correction or consolidation. Although XRP rose to a high of £1.43191 on April 14, the bulls could not sustain the higher levels. Profit-booking started a correction from April 15 and the XRP/GBP pair plunged to the 20-day EMA on April 18. Traders defended the 20-day EMA but have not been able to sustain the prices at higher levels. That led to further selling and the price has again dropped back to the 20-day EMA. If the pair doesn’t rebound off the 20-day EMA with strength, it will suggest that traders are not buying the dips. That may result in a further decline to £0.80. Alternatively, if the pair rebounds off the 20-day EMA, a move to £1.15 is possible where the bears are likely to step in. A breakout of £1.15 will signal that the bulls are back in command.
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CARDANO - ADA/GBP
We had said that Cardano will face stiff resistance at £1.07197 and that is what happened. Although the price pierced the overhead resistance, the bulls could not sustain the breakout. This could have trapped the aggressive bulls who closed their positions and this long liquidation resulted in a sharp correction on April 18. Traders purchased the dip on April 18 but they could not sustain the price above the 20-day EMA on April 19. Renewed selling on rallies has dragged the price below the 50-day SMA. The bears will now try to sink the price to the £0.71001 support. This is an important support to watch out for. A strong rebound off £0.71001 will keep the ADA/GBP pair range-bound for a few days. Conversely, if the £0.71001 support cracks, the pair could extend its decline and plunge to £0.50. We will watch the price action at £0.71001 and then suggest a trade in it. Until then, traders may remain on the sidelines.
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BINANCE - BNB/GBP
We were bang on target on Binance Coin as well. Last week, we had told traders to not get greedy and book profits on 80% of the positions when the price was about £420. The price only continued lower from there and has reached the 20-day EMA. The BNB/GBP pair attempted to bounce off the 20-day EMA on April 19 but the long wick on the day’s candlestick shows traders sold on rallies. This suggests the sentiment has turned negative. If the bears sink the price below the 20-day EMA, the selling could intensify and the pair could drop to £300 and then to the 50-day SMA. Such a deep correction will delay the next leg of the uptrend. Contrary to this assumption, if the price once again rebounds off the current level and rises above £400, it will suggest sustained buying by the bulls at lower levels. That could result in a retest of the all-time high at £465.761. Though the chart structure looks positive, we are not suggesting any trade in it because the overall sentiment remains weak.
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PRESS RELEASE JUNCACASH CRYPTO AND FINTECH SERVICES TO ENABLE PAYMENT AND EXCHANGES FOR THE PHILIPPINES
Junca Group Company, a beauty and finance market leader. The Junca Cash Token is a unit price exchange in the Junca Cash blockchain software. The token is solely used for Junca Group members and fans to join the Junca Cash platform. Junca Group, besides standing out in the beauty industry, also provides crypto and fintech services to enable payment and exchanges via ATMs, wallet services, and other cards at low fees. As crypto enthusiasts, the company seeks to boost the Asian economy through blockchain financial solutions such as international money transfer, crypto-asset exchange, foreign currency, and on/ offline payment. Junca Cash is a crypto asset with a significant difference, unlike other cryptocurrencies. It offers uniqueness to fit the Philippine economy and the people’s local needs. According to the official Junca Cash website, the use case of the crypto asset will provide features such as domestic remittance, settlement, donations to funds and scholarships, exchange of crypto asset and fiat, foreign currency exchange, special benefits at all Junca Group member stores and franchises upstores, international remittances for overseas Filipino workers, and international and domestic remittance, withdrawal or deposit via ATM. Cryptonaire Weekly | April 20th 2021
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The Junca Holdings Fintech Crypto service makes it simple to access about eight financial services with the Junca wallet and ATM. These fintech services include donation scholarship loans, settlement, exchange of crypto asset and fiat, and domestic/international remittance. Junca Cash will allow for online banking on the blockchain. Therefore, users will enjoy fast and instant settlement processes, more affordable costs/fees, as well as security and safety. The blockchain platform upholds protection as it makes processes difficult to falsify data or information. In just a few seconds, members can settle payments reducing the number of hours to perform similar tasks using traditional financial methods such as banking. Due to reduced roll-over time and a trusted platform, intermediary costs are unheard of, significantly reducing transaction fees.
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JUNCACASH ALREADY HAS A PARTNERSHIP AGREEMENT WITH ACTS-OFW
The crypto industry is extremely lucrative with a 24-hour a day functionality. The crypto industry is ever-changing and keeping up with the ongoing trends is important for crypto enthusiasts to remain relevant. Educational crypto platforms are therefore crucial not only for beginners but also for crypto fanatics alike. The academy will, therefore, move the Asian economy with the presence of the Junca Cash platform. Remittances from Overseas Filipino Workers (OFWs) account for about 11% of the country’s total GDP. According to the Philippines Statistics Authority (PSA), more than 2.3 million OFWs live and work overseas, bringing in remittances of more than $33 billion. Due to their love and dedication to their families and their significant contribution to the country’s economy, OFWs are referred to as modern-day heroes. The Philippines lists in the top five economies in the world benefiting from remittances. The need to tap into this resource is evident, as achieved by the Juncacash platform.
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CRYPTOCURRENCY TRADING PLATFORM ATANI RAISES $6.25M IN SEED FUNDING
Crypto start-up organization Atani announced on Tuesday that the company raised $6.25M in seed funding. Leading European VC funds also participated in the seed round, successfully led by investor JME Ventures. Other companies who participated in the round were Encomenda Smart Capital, Lanai Partners, and Conexo Ventures, aside from individual investors, such as crypto experts, serial entrepreneurs, legal affairs, blockchain technology, crypto taxation, and finance experts. The start-up plans to use the funds to expand its business globally, in addition to introducing premium features, such as API trading, for professional developers and traders. Based in Madrid, Atani is essentially a non-custodial desktop app offering portfolio monitoring and trading on 22 exchanges, such as Binance, Bitstamp, and Coinbase Pro. The crypto platform also has a taxation reporting tool that provides an auto report valid in more than 30 nations. Sharing more information about the platform, Paul Barroso, Co-founder & CEO of Atani, stated, “We started investing in Bitcoin back in 2013 and have experienced first-hand the growing sophistication and fragmentation of the crypto market. The pains of interacting with different exchanges, managing multiple trading tools, or dealing with taxes drove us to build Atani.” The seed funding round was carried out after a pre-seed funding round of $750,000 held in May 2019. With this, the Atani group’s total funding stands at $7 million.
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The Atani platform allows users to continue trading even when the web platform of the exchange is down. Users can conveniently connect their trading exchanges to generate an audited taxation report that calculates the amount owned on every trade, even those executed before joining Atani. Apart from this, Atani also offers other features such as advanced order type, portfolio aggregator, as well as trading calculator, and customized pricing alert system. Users can get up to one thousand emails, two hundred SMS, and thirty phone calls every month, allowing them to stay abreast of the market developments even when not accessing the Atani trading terminal. The highly intuitive platform aims to enhance user experience and will thus design a freemium model for trading. Given that all crypto trading platforms are based on cloud technology, they provide hackers with the opportunity to access the digital wallets of users. But Atani being the non-custodial platform, doesn’t let anyone access users’ API keys and funds. This unique feature, along with its taxation and the analytical aspect, will attract both experienced and new investors.
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ADVANCEMENTS IN THE CRYPTOCURRENCY WORLD Dogecoin at $0.44 embraces ‘literal moon’ ahead of Elon Musk SpaceX launch
“Dogecoin Day 4/20” and a SpaceX rocket launch are two events fuelling DOGE/USD as year-todate gains pass 7,500%. Bitcoin (BTC) may be flagging, but one cryptocurrency could not be less fazed by the market downturn, hitting new all-time highs. Dogecoin (DOGE), the altcoin based on a Shiba Inu meme, passed $0.40 for the first time on April 19, capping weekly gains of 400%.
New all-time highs keep coming for DOGE The rags-to-riches moves by DOGE throughout 2021 have wowed pundits and left former bagholders weeping. Now, it appears that even a flash bear market cannot stop its moonshot. Just seven days ago, DOGE/USD traded at $0.07. As Cointelegraph reported, year-to-date gains are now in excess of 7,500%, while the pair is up almost 18,000% versus the same date in 2020. Read more...
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TIME Magazine Now Accepts Crypto for Digital Subscriptions
TIME Magazine continues its foray into the crypto space by letting readers pay for subscriptions with digital assets—and receive some back. TIME Magazine now allows its readers to pay for digital subscriptions with cryptocurrencies. The service was launched in partnership with digital assets exchange Crypto.com. TIME, a major American news magazine and website, will allow its readers to pay for digital subscriptions with cryptocurrencies, the company announced today. The media giant has partnered with digital asset exchange Crypto.com for the initiative, according to the release. Starting today, subscribers will be able to pay with crypto for a one-time purchase of 18 months of unlimited access to all content on Time.com. This also includes unspecified “subscriberonly events and offerings.”
“As TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto. com,” said Keith Grossman, president of TIME, in the announcement. As an added bonus, users who pay for their subscriptions with Crypto.org Coin (CRO)—the exchange’s native token—will be able to get up to 10% back as part of the “Pay Rewards” program. Read more...
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Bank Of England And HM Treasury Launch CBDC Task Force to Evaluate Opportunities & Risks
The booming cryptocurrency industry is forcing national banks to look towards fiat-backed digital currencies as a way of regaining back control of the financial system. Even as the outcry for central bank digital currencies (CBDCs) is becoming more and more pronounced, many world governments are gradually launching their own independent programs to meet this growing need.
BoE Launches CBDC Task Force To Evaluate Risks In an official release by the Bank of England (BoE), the UK’s apex bank said it would be collaborating with Her Majesty Treasury to launch a CBDC Task Force to look into the exploration of a CBDC program. The CBDC is to serve as a form of digital money issued by the BoE and meant for local use. The CBDC or a digital pound would play a secondary role and be used along with cash and bank deposits. According to the BoE, they are not meant to replace the pounds but to augment it. Even though this is the first time the UK has openly discussed the prospect of a state-sanctioned digital currency since releasing a paper in March 2020, the financial body said it has not yet made a definitive decision on whether CBDCs would help the economy. Read more...
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China’s Central Bank Looking to Regulate Bitcoin as an Investment Vehicle
High ranking officials of the People’s Bank of China (PBOC) have hinted that the apex bank is looking for ways to regulate bitcoin (BTC) as an investment vehicle, as they have major roles to play in the future, according to a Weixin report on April 18, 2021.
China May Soften Harsh Stance Towards Bitcoin (BTC) While China remains the global heavyweight in terms of bitcoin (BTC) mining activities, the country has since outlawed cryptocurrency trading. However, it appears the People’s Bank of China (PBOC) is looking to soft-pedal a bit on its existing draconian crypto regulation. Per sources close to the matter, Li Bo, the Deputy Governor of the People’s Bank of China (PBoC) and Zhou Xiaochuan, the former governor, who was also present during the Boao Forum for Asia conference on April 18, reiterated that bitcoin (BTC) and other cryptocurrencies have a huge role to play in the Chinese economy as investment vehicles and as such, the PBoC is thinking of how to regulate it as one. Li Bo said:
“We believe that bitcoin and stablecoins are encrypted assets. An encrypted asset is an investment option, it is not a currency in itself. Therefore we firmly believe that crypto assets should play a key role in the future, either as an investment tool or as an alternative investment. If it is used as an investment tool, many countries including China, are studying what kind of regulatory guidelines to implement for such an investment method.” Read more...
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Fortress Group CEO Says Bitcoin Not An Environment Hazard
Ross Stevens, the CEO of multi-billion dollar asset management firm Fortress Investment Group in a recent interview refuted all claims of Bitcoin being an environmental hazard, a FUD that was debunked three years ago and has started doing rounds again recently. Stevens said that being an environmentalist he would have never invested in the asset if that was the case. He said,
“I am an environmentalist and my primary focus is climate change. I would NOT be involved in #Bitcoin if I thought it was bad for the environment.” Stevens went on to claim that Bitcoin has become the biggest catalyst for clean energy mining. The Bitcoin Energy FUD first surfaced back in 2018 which gave the infamous comparisons such as “Bitcoin consumes more energy than Texas” and similarly many other exaggerated implications of Bitcoin mining. However, a deep dive into the source of the FUD revealed that all such studies trace back to a blog published in 2018. Although the debunking of the FUD revealed that the majority of Bitcoin mining is done using surplus clean energy generated by hydro powerplants.
Why the FUD Now? Bitcoin in 2021 has gone mainstream as some of the biggest Wall Street critics and hedge fund managers have gone back on their criticism to add Bitcoin to their portfolio. The growing popularity of Bitcoin seems to be the key reason behind the old-age FUD. When compared against the energy consumption of Gold mining and traditional banking system, Bitcoin energy use seems just a blip on the map Read more...
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Coinbase Considering Over 100 Altcoins After Boosting Cardano and Enjin Coin
Crypto exchange Coinbase is contemplating adding support for more than 100 new crypto assets after recently enabling trading for Enjin (ENJ) and Cardano (ADA). Gaming token ENJ and Cardano’s native asset ADA saw a significant price increase following their listing on the San Francisco-based firm’s trading platform. ENJ soared by 65% and ADA by 28% within 24 hours of the announcement. In a new interview on CNBC, Coinbase CEO Brian Armstrong reveals that the exchange is adding more cryptocurrencies to its coin roster as he explains why people should invest in the company.
“We’re not tied to one particular crypto asset. We’re adding support for over 100 crypto assets now, and there’ll be more and more in the future. You know we’re also kind of what you might call an indexed bet or a levered bet on the crypto space, more broadly because we’re kind of selling picks and shovels. We’re helping people access and use this to new technology, so I think we’re going to grow along with the crypto space.” Coinbase already added eight new digital assets this year: ADA, Ethereum scaling solution Polygon (MATIC), layer-2 scaling solution Skale Network (SKL), decentralized exchange (DEX) SushiSwap (SUSHI), DEX aggregator 1inch, ENJ, peer-to-peer connectivity network NKN, and decentralized commerce and finance project Origin Protocol (OGN). Read more...
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DMG Purchases 3,600 ASICs in North American Bitcoin Mining Expansion
DMG Blockchain Solutions, a public bitcoin (BTC, -2.78%) mining company, has purchased 3,600 bitcoin mining machines. The Canadian company expects the order to push its hashrate to over 500 petahashes per second from roughly 140 petahashes. (The seven-day moving average for Bitcoin’s total hashrate is 144 exahashes per second, according to Luxor Tech.) DMG’s stock is trading at $1.39 CAD ($1.11 USD) at press time and is down 15%. DMG will receive the first shipments of these application specific circuit (ASIC) miners – computers optimized for one function only, in this case, producing hashes to mine bitcoin – this August. The company anticipates it will receive the final batch of the order next August. This delay underscores a pain point in a mining industry that is teeming with demand but short on the metal to meet it. As industrial-scale miners including Marathon, Riot, Blockcap and others purchase machines by the tens of thousands, there aren’t enough machines to go around, especially for North American bitcoin mining companies, considering that most of these machines are manufactured in Asia. Read more...
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SEC loses a battle to win the war? Ripple dissociates from pumping XRP
While the defendants may have gained an edge in pre-trial rulings in SEC v. Ripple Labs, are Ripple’s legal troubles now over? When the United States Securities and Exchange Commission filed legal action against Ripple Labs and its top-two executives in December, alleging that its XRP coin was in fact a security and that the firm had raised over $1.38 billion through an unregistered securities offering in 2013, many wondered if XRP would even survive. Some exchanges delisted XRP; some asset managers sold their XRP tokens. XRP had lost its place as the top 3 currency by market capitalization and was even looking like it could drop from the top 10. But reports of Ripple’s demise were spectacularly exaggerated. As of mid-April, XRP had increased 532% over the previous 12 months, and things also took a favorable turn recently in the SEC lawsuit, with the defendants prevailing in two discovery rulings — even turning the tables on the regulatory agency by winning access to the SEC’s internal memos and minutes with regard to crypto discussions. “The SEC Is Now On Trial – And Knows It,” sounded Forbes. Read more...
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WEEKLY CRYPTO investment journal
Cryptonaire Weekly | April 20th 2021
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1 million crypto traders see nearly $10 billion in liquidations
Expect the crypto market to dump at the exact time everyone is euphoric. Traders saw nearly $10 billion in liquidations on Sunday morning as the crypto market saw a deep pullback, data from markets tool Bybt shows. Over 1 million individual accounts were liquidated.
Wooosh ‘Liquidations’ occur when traders borrow excess capital from brokerages/exchanges (i.e., ‘margin’ or trading futures) to place bigger bets on the assets they trade. They pay a fixed fee for doing so, while exchanges close out these positions at a predetermined price—when the trader’s collateral is equal to the loss on that position. Such a trade is then said to be liquidated. And amidst all the euphoria from last week, such as bank executives stating Bitcoin would eclipse gold’s valuation and the asset setting new all-time highs, traders likely borrowed in excess of what their books would allow and contributed to what became an overheated, overleveraged market. Saturday night was the pin of that balloon. Markets tumbled by nearly 10% on average—some altcoins even seeing losses of 25%—while traders ended up losing $9.85 billion. Read more...
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Gold Has This One Advantage Over Bitcoin, Says Crypto Firebrand Max Keiser
Longtime Bitcoin bull Max Keiser says that gold has one single advantage over the world’s leading crypto asset by market cap. In a new interview with Daniela Cambone of Stansberry Research, the Wall Street veteran concedes that, despite being a vocal Bitcoin advocate, gold is superior to Bitcoin in that it is a malleable good that retains its properties while also shapeshifting and providing anonymity to its holder.
“The one attribute that gold has that Bitcoin doesn’t at the moment is fungibility. Gold is fungible to an extent that Bitcoin is not. Fungibility meaning you can melt down your gold and recast it in some other different form and it maintains its integrity as gold and it’s completely anonymous. It’s completely fungible. Bitcoin, because it is digital, because it is a public blockchain, because it’s transparent, you don’t have the same fungibility.” By traditional economics definitions, Bitcoin is not 100% fungible because of how the blockchain allows you to see the history of each coin, unlike gold, which can take an entirely new form after being melted down. According to Keiser, the lack of confidentiality on the Bitcoin blockchain is likely the reason why criminal activity using BTC has drastically decreased, with most criminals preferring cash or other assets. Read more...
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IS DEFI THE FUTURE OF FINANCESTATERA A NEW TYPE OF DIGITAL ASSET
The term DeFi is a single term used to describe a collection of applications created in the public blockchain to change the financial industry (Traditional Finance). Endorsed by decentralized ledger technology (blockchain), DeFi is known as financial applications built on the decentralized ledger technologies using a group of codes known as smart contracts. A smart contract is simply an automated and enforceable agreement that doesn’t require any thirdparty or intermediaries to execute. As long as you have an internet connection, you can access the smart contracts. Decentralized Finance (DeFi) consists of a suite of applications and peer-to-peer (P2P) protocols created on blockchain networks requiring no access rights for easier borrowing, lending, and trading of financial tools. Many DeFi’s are currently built on the Ethereum terminal (network). Despite that, there are many emerging alternative terminals that aim to deliver superior speed, high security, more scalability, and lower transaction costs. Today cryptocurrencies and crypto currency investing have exploded into a trillion-dollar industry, disrupting the financial world. The birth of cryptocurrencies dates back to the 1980s, when cryptography advanced. This also brought with it a whole new technology known as blockchain technology or decentralized ledger technology (DLT). Since that time, a sequence of events has shaped the world of cryptocurrency investing. In the world of cryptocurrencies Bitcoin is the one that reigns supreme. It’s currently a store of value and even more expensive than gold. Most people that practice cryptocurrency investing call it digital gold. Cryptonaire Weekly | April 20th 2021
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Even though Bitcoin has grown over the last two decades, many financial institutions like banks and other corporations don’t want to adapt to it due to its highly volatile nature and lack of stability. Some institutions like PayPal and Tesla, however, have seen the value Bitcoin has. This has made them include Bitcoin in their day-to-day transactions and even adapt using it in their system. Things change pretty fast in the crypto world. DeFi or in full, Decentralized Finance is the current trend in the financial world. The world of DeFi is the most exciting space to be in. For this reason, you’ll want to know all you can about decentralized finance and how it works.
HOW DEFI IS CHANGING THE FINANCIAL INDUSTRY In the earlier days, humans barter traded goods and services. Nevertheless, as humans morphed into modern man, economies and how to trade also evolved. Since physical goods were almost impossible to divide and used as money, man invented the currency. It was easier to store it, share it, and trade it compared to the earlier money. The invention of coins opened a new door to other innovations and also upgraded the levels of the economy. From history, you know that Central Regulators gave out currencies that control the economy. This means more power goes to them as people trusted them to regulate this currency. As years went by, the trust initially given to the central regulators have broken over time. People began questioning the central authorities ability to manage their money. Decentralized Finance was invented ideally to solve the problem of trust by giving each person control over their currency. The prime focus of DeFi is to provide a financial system that’s open to everyone and with as minimal control from any central authority as possible. It’s assumed that the birth of DeFi was in 2009 with Bitcoin’s launch. Bitcoin was the first peer-topeer digital currency built on top of the decentralized ledger technology network. Through Bitcoin, the theme idea of transforming the traditional financial services using blockchain technology kicked in. The goal was to create a decentralized financial system where everyone was given control over their currency. Ethereum’s launch (the second generation blockchain and web 3.0) and smart contracts back in 2015 made the development of decentralized Finance possible. The Ethereum network unleashes the ultimate potential of blockchain technology by allowing business enterprises to create and deploy their DeFi apps using smart contracts. DeFi’s development brought with it a suite of opportunities in the financial world that brings forth transparency and security without any regulations whatsoever from central authorities. In 2017, the actual turning point of financial applications took place. Projects appended more functionalities in addition to money transfer.
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THE FOLLOWING ARE HOW DEFI IS CHANGING THE FINANCIAL INDUSTRY: 1. Lending and borrowing– DeFi enables borrowing and lending. This opens a whole new world to what is called Open Finance. If you practice cryptocurrency investing or hold crypto, DeFi offers you lending opportunities to earn yearly yields. The main aim for allowing lending and borrowing in DeFi is to serve the financial user cases in addition to fulfilling the cryptocurrency community’s needs.
2. Decentralized Exchanges– this is also known as DEx. They are one of the prime functions of Decentralized Finance. In cryptocurrency investing, DEx allows users to exchange their tokens or any of their digital assets without any third-party involvement. Centralized exchanges provide similar options, but the price to pay is too high. This means massive transaction costs and fees in addition to paying intermediaries for the safety of your digital assets.
3. Prediction markets– prediction markets are terminals where investors can make forecasts on the realization of future occurrences in the economy and globally as well. DeFi opens these markets for individuals to participate. Smart contracts in the DeFis make predictions possible.
4. Digital Asset management– this is another classification of service Decentralized Finance provides. The intention is to make investing faster, inexpensive, transparent, secure, and democratized
WHAT IS STATERA AND WRAPPED STATERA? Statera (STA) is a smart contract powered Indexed Deflationary Token (IDT), which synergizes with a trustless and community-driven portfolio of class-leading cryptocurrencies Deflation decreases volatility and increases positive price pressure of the liquidity pools it lives in. The deflationary mechanism also benefits the ecosystem it works in, by increasing volume (trades), which increases chances for rebalances/swaps, therefore producing tighter spreads and increased access to arbitrage. This means that the value it brings increases the ability of the system to function more efficiently (tighter spreads, less slippage, better fees for users). Wrapped Statera (wSTA) is a second token that doesn’t use any deflationary mechanism, permitting wSTA to be integrated into systems that do not traditionally operate with deflationary tokens. This token can only be minted by wrapping STA, and can be wrapped or unwrapped at any period for an equal number of tokens, minus 1% burn. This results in deflation occurring safely outside of systems where it could otherwise be taken advantage of.
HOW DOES STATERA WORK? Statera is an ecosystem made up of a variety of liquidity pools within which all tokens hold a share of a portfolio’s value via smart contracts portfolio managers. When a digital assets ratio rises (appends) relative to other digital assets, the portfolio rebalances itself by selling the token that has increased in value.
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wSTA can only be minted through wrapping the STA token, however it is also tradeable with STA or ETH on Uniswap or other DEXs. This results in a natural price equilibrium between STA/wSTA, as arbitrageurs will take advantage of any price disparity between the tokens. This arbitrage results in Statera’s deflation and in higher volume across the ecosystem. wSTA is then safely implemented in any third-party protocol – such as Balancer, where Statera’s Index Pools reside. As the component assets’ prices fluctuate, they are constantly rebalanced – increasing deflation and arbitrage opportunities which then leads to further volume. This self-perpetuating cycle results in higher fees paid to liquidity providers.
HOW STATERA IS BRINGING DEFI TO THE MASSES The Statera community believes that DeFi is the future of Finance. Their main aim is to make the DeFi tools available in their network accessible to everyone who wishes to join the Statera community. By lowering the barrier to entry, Statera hopes to bring with it a sustainable stream of passive income to the masses. With its processes of decreasing volatility and boosting passive income potential, the Statera community believes that Statera is established to be the excellent force-multiplier for any indexed fund of digital assets.
Liquidity Pools and How Statera is Utilizing Multi-Asset Liquidity Pools Statera’s extended ecosystem consists of various liquidity pools. The liquidity pools are the places where all the Statera tokens (STA and wSTA) maintain a share of the portfolio’s value. This maintenance is made possible through the use of a smart contract portfolio manager.
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When an asset’s ratio rises relative to the others, the portfolio will rebalance itself by trading the token that has amassed value. These pools constitute Uniswap pairs (containing 50/50 STA or wSTA with any other digital asset), Balancer Pools, and on any other index fund or liquidity pool platform. All of these pools interact to generate more volume, arbitrage, profitable markets, and deflation across the network.
CONCLUSION- STATERA A NEW TYPE OF DIGITAL ASSET To sum up, DeFi is indeed the future of Finance. Statera, a new type of digital asset, is the epitome of what potential DeFi has. By simply utilizing the features Statera has, one can easily make a recurring stream of passive income simply through trading. And since everything in the network is done in a decentralized way, one has full control and access over his/her assets without any hurdles.
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BITCOINVEND THE NEXT STEP FOR BITCOIN & CRYPTO ADOPTION
Today’s article is going to detail how the BitcoinVend App and its respective ecosystem could just be the answer to the question of how to achieve mass adoption. Despite growing awareness surrounding Bitcoin & Cryptocurrency, they have yet to be incorporated into our everyday lives. The following statement may seem strange at such times but the fact of the matter remains that unless Cryptocurrencies are embraced into our lives and economy, growth will be relatively slow. If crypto doesn’t become spendable the whole world is unlikely to ever own it, we often forget that approximately 40% of America live hand-to-mouth not to mention the rest of the world. If crypto remains an investment product then adoption remains a dream. But, if cryptos become currencies, that’s a whole different story! The good news is that some companies are addressing the challenges. In this article, we look at why BitcoinVend might just be the cryptocurrency mass adoption solution many of us have been waiting for.
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WHAT IS BITCOINVEND? With crypto attracting so much attention, it´s fair to say that right now is the perfect moment to make it mainstream. Existing solutions provided by the corporate giants don’t cut it for most, they are expensive, do not align with the ethos of crypto and leave much to be desired. However, BitcoinVend is building an App that makes using crypto cheap, gets the community involved, keeps it simple and frankly doesn’t leave much to be desired, bringing everything together in one place. We were given a sneak peek, it’s very cool and easier than Revolut! Here at Platinum Crypto Academy be believe BitcoinVend and the ecosystem it will create is an answer for many of the challenges or frustrations that existing crypto users face and is a truly viable way to bring in the masses. To create a complete crypto-economy requires more than just the typical exchanges and a scattering of companies accepting it, what is needed is a marketplace, payment system and currency exchange. It must be seamless, reliable, safe, easy and inexpensive – this is the vision for BitcoinVend and could usher in the masses.
THE FEATURES AND BENEFITS OF BITCOINVEND Like a typical wallet, BitcoinVend can be used to send and receive cryptos. However, it is not a wallet per se, the three core features, Marketplace, InstaPay and Exchange, bringing together all the key elements needed to create a full-fledged crypto ecosystem. In their words, BitcoinVend is “Much more than just an App, it’s a whole economy in the palm of your hand”. Firstly, BitcoinVend will have a marketplace where buyers and sellers can list new and used items – accepting payment in numerous cryptos with no reliance on fiat. They describe this as the eBay and Facebook Marketplace of crypto – we see it as somewhat reminiscent of Silkroad (but with nothing dark or illegal about it). For individuals and businesses wanting to sell goods or services online and take payments with crypto, this is a game-changer. Built-in escrow, CSV uploads, as well as Amazon store APIs, make a vendors life incredibly easy, furthermore, instead of miles of red tape, BitcoinVend vendors will be able to set up ´shop´ in minutes. Second is their payment processing feature, “InstaPay”. Imagine InstaPay as the crypto birthchild of Revolut and PayPal, enabling users to send and request payments with other users and facilitating online or in-store crypto acceptance for businesses. All settlements will be instant and accessory features such as auto-convert enable merchants to protect their crypto revenue (or a percentage of) against volatility with a simple click.
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The days of multiple wallets and double-checking addresses when sending crypto to a friend seem to be numbered with this solution and business can say goodbye to crypto payment processing solutions that are laborious to set up with frankly extortionate fees attached. The third core feature is a hybrid exchange that offers peer-to-peer trading (or swaps if you will), somewhat like LocalBitcoins but highly intuitive and incredibly easy to use, whilst also providing users with the ability to trade directly with BitcoinVend as an exchange. Not only does this provide total flexibility to users, I.E, people have multiple options in terms of how to trade (locally, globally, crypto for crypto, crypto for cash), but according to our contact at BitcoinVend, both individual and corporate users will have a comprehensive suite of settlement features available to them – all wrapped up into one simple interface. On the subject of flexibility, BitcoinVend is also integrating third-party wallets and put no restrictions on how users decide to settle. It can be used solely as a platform for listings and a tool for communication.
AND THE BEST BIT, GOLD MEMBERS WILL PAY NO FEES, YES YOU HEARD IT RIGHT, NO FEES.
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With all that said, a question may be arising in your mind, “How can a simple Smartphone app do all this, and without low or no fees?”. Well, we don’t know the specifics of how it works behind the beautiful interface but we do know is that BitcoinVend seems to have thought about everything and are die-hard focused on their product – a great sign. To hazard a guess we suspect that it has something to do with the fact that two of their founders have been in crypto since the early days and before this venture were working on OTC settlement, meaning they probably have a few tricks up their sleeves that the average trader doesn’t know, only time will tell. If you have done your homework, you will know that Silkroad despite its shady reputation was undeniably the most powerful kick-start that Bitcoin received but since its demise, the whole industry took a shift away from using crypto, leaning more toward trading and investing – speculating on a potential future use case and treating it like digital gold. BitcoinVend is different though, they are laser-focused on the use case, it feels kind of nostalgic and got us thinking that these guys are onto something. If they pull it off, it could be very interesting, not just as a project but for crypto as a whole.
SOCIAL ECONOMICS & FREE MARKETS As the name suggests and as you will have gathered, BitcoinVend is all about selling but not just buying and selling crypto, buying and selling with crypto. One of the co-founders Joe Jewson explained to us that their app is an exchange for everything; crypto, cars, computers, houses, foods, “Whatever you want or need, what it will grow into will be based on supply and demand principles – how people chose to use it”. Naturally, there are certain limitations and sensibly, high-risk items and illicit/illegal good are prohibited but the nice part is that BitcoinVend ecosystem is certainly not a totalitarian regime, the community are very much involved. It is a never done before cross over between centralized exchange and community-run ecosystem that feels very grassroots. On one hand, BitcoinVend provides everything a crypto (and a non-crypto) person needs through a host of useful services, with simplicity, at low cost and wonderfully jargon-free. And on the other hand, how they involve the community is a nice touch. We are talking about a civilized and legal Silkroad with opportunities galore. Starting with the more standard stuff and leading to the juicy bits, each user builds a trust score based on a variety of factors, a reputation that will provide useful information for those considering trading with them. User with a high trust score can mediate marketplace disputes and have the final say (BitcoinVend won’t be getting involved). And the ecosystem will have bounty hunters who seek out any suspicious activity like private investigators, earning rewards for doing so. This is all made possible in part thanks to BCVTokens (ticker: BCVT), their partner token, for which the use cases are numerous including paying in-app fees, making in-app payments, bagging GOLD membership (the no fee level), various types of rewards (giveaways, referrals etc.) and raising trust score for those who HODL. All in all, there are so many incentives here that bad actors won’t get far. Cryptonaire Weekly | April 20th 2021
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As further testament to their modern yet grassroots approach, BitcoinVend is creating Ambassador NFTs. With auctions starting in May, an Ambassador NFT enables the owner to open a special account on the App and instead of the standard referrals, Ambassadors are rewarded with a percentage of transaction fees paid by their referrals, with the option to sell their NFT in the future with ongoing rewards attached. This is potentially highly lucrative for the NFT holders who work it. Some people (and businesses) have done very well with referral systems but this is referrals 2.0 and for a project whose focus is on bringing the masses to crypto… it got us thinking. Their NFT concept is a franchise business crossed with affiliate marketing meets crypto innovation – we haven’t seen anything like this before and are curious about how it´s going to pan out. If you are thinking “How does one get rewards on transaction fees if there are no fees?”, let us clarify. To get GOLD membership the user has to hold a certain amount of BCVT which drys up liquidity so commission from fees or not, we see this is a win-win (if the Ambassador is holding their token). So, with interesting social dynamics, will BitcoinVend be a free market? Well, it depends on how you define free, in our eyes, it´s certainly more flexible and free than any other economy we know of. There is a lot to take in here and you will hear more about BitcoinVend soon but before we wrap up let’s get right back to basics. The majority of society finds crypto tech complicated, many are holding onto misperceptions and trust is still lacking, especially when crypto takes a dive which is loved by savvy traders but breeds fear in the unknowledgeable onlooker or newbie. And anyway, how are we supposed to use crypto as currency when so few businesses accept crypto payments?
THE BENEFITS OF USING CRYPTO AS A CURRENCY Whether you see Bitcoin as digital gold, the new reserve currency or just an asset to trade, it was created to be spent, or at least sent. So with central bank issued digital currencies on the horizon are we going to sit around whilst the giants bring their millions of customers into the digital realm or are we going to help cryptos become globally accepted mediums of exchange? Without a doubt, it will be a combination of both, and hopefully more biased toward the latter. We are not going to explain to you what you already know about the benefits of crypto, talk about hyperinflation, debt-based money systems or anything of the sort. But what we will do is bring up something very simple that BitcoinVend drove home in our conversations, and most of the crypto community seems to be overlooking.
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Every time we sell crypto to fiat to pay for our groceries or that new car, we are extracting value from the system. However, every time someone offers something of value (whether it be a product or service) accepting payment in crypto, value is added to the system. It´s a simple equation: More Use Case plus More People = More Adoption.
CONCLUSION The fact of the matter is that for crypto to become truly mainstream, a solution like BitcoinVend is needed. Given the features and attributes, one can easily say that BitcoinVend is going to be the most complete, comprehensive and useful app in the crypto market and could be huge. If they can tap into the non-crypto market, it could change the world. BitcoinVend announced their project publically only a short while ago, they intend to launch the App this quarter and their marketing efforts have hardly begun making this a true hidden gem which we are pleased to be sharing with you at this very early stage. In a nutshell, if you are looking for an easier way to pay friends, accept crypto at your business, sell items online, swap your cryptos, make it a bigger part of your life, or just the next great opportunity, BitcoinVend is worth a deeper look. Here at Platinum, we are keen to try it out and we are sure you will be too.
To learn more about the project, app, its functions features and benefits, visit: https://bitcoinvend.com
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HOW DEFIBIDS REIMAGINES ONLINE AUCTION FOR DEFI?
Cryptocurrency investing & Defi Auctions have been made possible in the crypto sphere allowing investors to purchase cryptocurrencies based on the ETH at more affordable rates. DefiBids, a unique crypto auction platform, gives every individual the opportunity to bid on cryptocurrencies and Defi. This concept is relatively new in the market, and it is taking a positive effect on the crypto industry. Crypto enthusiasts now have the opportunity to better invest in the industry even with a tight budget because the lowest bid accounts for the winning price during an auction. The lower and more affordable prices indicate two benefits: saving more by purchasing the same number of tokens at a lower cost or purchasing more tokens for a specified amount. Understanding the concept of cryptocurrency investing & Defi Auctions will help individuals and crypto enthusiasts to benefit from the crypto purchase and staking.
HOW HAS THE CRYPTO MARKET EVOLVED? The crypto market has evolved despite its existence in the market over a short period. Since its inception, the market capitalization has surpassed 3 billion US dollars. Bitcoin was the first cryptocurrency in the market, and since its launch in 2009, several other cryptocurrencies have emerged. There are thousands of crypto being traded every day and several crypto exchanges emerging. Since Bitcoin is the parent of all crypto, it holds a larger market share with approximately 45% of the stake of the crypto market cap. Cryptonaire Weekly | April 20th 2021
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The expansion of the crypto market is evident with the emergence of companies that are embracing crypto-enabled products and services. In addition, many platforms are incorporating blockchain applications to facilitate crypto usage. The crypto market affects the financial market and other industries due to the underlying crypto technology. Blockchain could disrupt many of the major industries such as telecommunications, insurance, government, and automotive. The benefits of applying blockchain technology in any industry include better security, better traceability, greater transparency, and increased efficiency. DefiBids is keen to highlight these benefits in their platform. There are several key individual and institutions in the crypto industry, but the crucial players include the exchanges, mining, wallets, and payment companies. An essential aspect in the crypto industry is the presence of crypto exchanges. Crypto exchanges allow individuals or investors to purchase (buy or sell) cryptocurrencies and other digital assets. Exchanges benefit the crypto industry because they offer a market for not only trading but also liquidity and price update of the different currencies and tokens. The industry is further expanding, allowing different platforms such as DefiBids to promote cryptocurrency investing & Defi Auctions. Many more can invest in crypto even with financial constraints. From just one cryptocurrency, the market has expanded to offer thousands of different cryptocurrencies. More crypto exchanges are taking into account the various currencies, thus expanding their platforms to accommodate a majority of them.
WHAT IS DEFIBIDS? DefiBids, the first crypto auction site, allows individuals to bid on crypto build on the Ethereum blockchain such as Ethereum, uniswap, and chainlink. A key objective of DefiBids is to advocate for cryptocurrency investing & Defi Auctions in the market. Individuals can also earn cryptocurrency and ethereum at no cost when they stake their bid tokens. As a decentralized crypto auction platform, it offers smart contracts that allow the auctioning of different ERC20 tokens via its platform. DeFi’s objective is to auction the tokens at a lower price than the prevailing market price, therefore, providing customers with tokens at more affordable rates. Therefore, as a decentralized auction platform, it is secure and reliable. An auction of ERC20 tokens is a continuous process with the auction system involving ERC20 token users bidding and staking the different tokens and earning rewards in return. The company benefits from the gas fees it receives. The company also benefits from its native token, referred to as BIDS. Investors can purchase credits with ETH or TRX to participate in the auctions. However, keep in mind that the company only lists auctions. DefiBids performs its functions through secure, innovative, inclusive, and transparent services targeting crypto and DeFi enthusiasts. The platform ensures convenient and seamless participation of users. DefiBids provides a solution to cryptocurrency investing & Defi Auctions.
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THE BENEFITS OF BUYING CRYPTOCURRENCIES FROM AN AUCTION? The concept of purchasing tokens or Defi via an auction was a far-fetched idea for many crypto investors. Advancement in technology in the industry has seen the growth of crypto exchanges and an increase in the number of exchanges. This concept has embraced the idea of online platforms among investors, although many did not advocate for online auction sites. Many investors would prefer buying crypto from exchanges as opposed to auctions. However, there are several benefits of purchasing crypto from an auction.
– Savings Keep in mind that auctions trade at low prices. In this, when comparing purchasing tokens or crypto via an exchange or from one individual to another and from auctions, investors will obtain their desired tokens at more affordable prices. Considering that you will be purchasing tokens from low bids, you will save on your finances. DefiBids offers the lowest unique bid auction with the objective of placing low bids by the end of an auction.
– Increase opportunities to obtain more crypto During an auction, investors have the opportunity to purchase more crypto. For example, assuming that two investors are holding the same amount of cash each and they are both seeking to buy the same token in the market at the same time. The investor purchasing his or her tokens from the exchange will buy fewer tokens than the investor buying from an auction. In this, the lower prices from an auction enable investors to invest more. Investors can compare prices at a specific time before going out to bid, making the entire process of bidding transparent.
HOW DOES THE DEFIBIDS PLATFORM WORK? The DefIBids platform is built on the Ethereum infrastructure as a decentralized auction platform for both crypto and DeFi. This platform allows its users to bid on cryptocurrency tokens and DeFis. At the end of each auction, the lowest unique bid becomes the winning price. Before an individual can bid on the platform, each individual must have some credits. Each credit will cost at least a dollar. This platform presents the auctions as an exceptional way to help investors or users to save on the next bid purchase. Despite competition with similar services in the market, it is evident that DefiBids offers unique and outstanding features that make it can better option to consider. While all service providers in this field offer decentralized platforms, DefiBids stands out thanks to its staking model acting as a game-changer in the market.
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The staking model protocol rewards the auction winners, therefore, allowing BID holders to gain added profits. The platform gives about 1% of the fees generated during the auctions to the platform’s stakers through a side pool. The distribution process is based on the total amount of $BID tokens from each staking user. The user can choose to withdraw the rewards when they choose or reinvest them on the platform. Besides purchasing tokens at more affordable costs, stakers also receive payouts, therefore offering an earning opportunity to promote cryptocurrency investing & Defi Auctions in the industry. All $BID stakers earn a portion of the ETH used during the auction when anyone participates in the auction process. The platform rewards its stakers on a daily basis at 00.00 UTC, thus avoiding long waits to acquire staking rewards. This feature promotes the reliability and efficiency of the DefiBids platform. In an attempt to lessen inflationary risks and build some value for the platform, the staking rewards are distributed in both ETH and $BID. Many DeFi platform competitors in the field face inflationary complications due to making pay-outs in their native platform tokens. To operate the DefiBids platform so you can place your bid, users need to install Metamask and then trade Eth for the DefiBids $BID token. Therefore, the platform advocates for transparency and allows users to view a current bid via their official website. Each bid also indicates the number of bids and the current low price before another investor can place their bid. The platform will also indicate the token value of the cryptocurrency so investors can evaluate and compare the value difference of a token before submitting a bid. DefiBids platform clearly illustrates the importance of decentralization in providing equal opportunity to all platform participants. The platform highlights a balance between allowing for auctions and ensuring the security of staking protocols.
CONCLUSION Cryptocurrency investing & Defi Auctions are offering investors the opportunity to earn more as well as purchase more cryptocurrencies at affordable costs. The availability of tokens is a continuous process, so individuals or platform users do not have to back out thinking that it is a once in a while trade. With the evolution and growth of the crypto industry, more individuals are venturing into the crypto sphere. Through DefiBids, everyone has a chance of winning big in the industry through platform crypto auctions.
ARTICLE DESCRIPTION Cryptocurrency investing & Defi Auctions with DefiBids is now allowing investors to purchase cryptocurrencies at affordable, thus allowing individuals to save and invest more.
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A COMPREHENSIVE GUIDE TO THE QOINIQ CRYPTOCURRENCY TRADING PLATFORM
Cryptos have been created for carrying out P2P transactions without involving any central bank or government. There are several cryptos with different design objectives. These goals are designed to provide an alternative to cash (Bitcoin Cash, Monero, and Bitcoin), to support P2P trading through the creation of tokens, for securely accessing a service or good in P2P trading, as well as support the protocol or underlying platform. However, a lack of adequate money management strategy can cause cryptocurrency investors to suffer significant impairments, at times around 95%, as occurred in the 2018 mass market wipe out. Besides, when they run out of capital, the investors also lose the potential to earn profit. This is where companies like QoinIQ come into the picture. QoinIQ has created the QoinSuit Cryptocurrency Trading Platform that uses a range of features and innovations to improve every trader’s tools, processes, and risk management strategies.
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CRYPTONAIRE
WEEKLY CRYPTO investment journal
HERE, FIND A COMPREHENSIVE GUIDE CRYPTOCURRENCY TRADING PLATFORM.
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QOINSUIT
QOINSUIT EXPLAINED QoinSuit can be interfaced with different exchanges. It is reliable, fast, and easy to customize to match the investor’s needs. Given the untapped scope and potential of cryptos and the core blockchain technology that supports it, QoinIQ has designed a unique platform for negotiating cryptos to enable different financial actors to benefit from the current opportunities the cryptocurrency economy is capable of offering. Simultaneous access to different exchanges offers unmatched execution efficiency and the platform’s decentralized order management system puts you in the driver’s seat and gives you complete autonomy in the realization of your investment strategies.
THE QOINSUIT USER GROUPS The QoinSuit Cryptocurrency Trading Platform has been created by and for traders. Through QoinSuit, QoinIQ aims to extend its services to private banks, crypto exchanges, asset management firms, family offices, brokerage houses, and other firms or individuals who do not belong to the financial industry but hold cryptos in their portfolios, or those who issue their cryptocurrencies.
FUNCTIONS The QoinIQ platform offers a host of functions, including the toolbar, watchlist, horizontal book, vertical book, order entry, conditional order entry, portfolio, and more.
BELOW, FIND MORE DETAILS ABOUT THE PLATFORM AND ITS FUNCTIONALITIES: WATCHLIST The watchlist function on the QoinIQ platform is designed for the following purposes: Monitoring the entire course of the coin lists. Customizing individual watchlists in terms of colors and content. Choosing markets and cryptos by clicking the drop-down menu. These are displayed on QoinIQ’s watchlist alongside their respective rates. Using the items on the tab. This is done by clicking every column label and sorting the digital coins in descending or ascending order. By clicking the button, crypto investing enthusiasts can access the horizontal book and its numerous functions (including price info, volume, order entry, P&L, trend, etc.) Accessing the charting tool offered by Trading View, “opening as many chart boxes as necessary, either for different cryptos, or different chart types and analysis of the same crypto, etc. Opening the vertical book and its functions (such as price info, volume, trend, order entry, etc.) Cryptonaire Weekly | April 20th 2021
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CRYPTONAIRE
WEEKLY CRYPTO investment journal
Horizontal Book Apart from the watchlist, individuals interested in cryptocurrency investing can also access QoinIQ’s horizontal book function to monitor all cryptocurrency trends by simply displaying ten buy and ten sell pricing levels, as well as depicting the previously completed 30 trades, including a timestamp. They can use the arrows found below the ticker to scroll through the deep book, as well as for viewing all the additional trades carried out previously. The Horizontal book allows cryptocurrency investing enthusiasts to submit their trade orders and generate visual confirmations of the trade orders sent. Also, the section on the top of the Horizontal book window displays all the previously traded price, the change in percentage in comparison to the previous day’s closing price, the trend, as well the position details in the portfolio of the user for the instrument selected by him/her. In essence, the Horizontal Book consists of comprehensive information, which enables professional traders and simple investors to place their orders and monitor the crypto price trends. They can use the book to keep track of all the positions visually and design trading strategies through the use of conditional orders.
Conditional Orders The Conditional orders function allows traders to place three distinct types of orders including, stop loss, take profit, and trailing. The stop-loss order type helps to safeguard the client’s position automatically during adverse market conditions, thus limiting losses. Using the QoinSuit platform, one can enter the stop-loss order aside from their main orders, indicating the price or percentage, which can trigger the selling condition. Apart from this, one can also choose the order type (with a percentage gap, if desired) using which the trade position shall be closed, market or limit. When you choose Market, QoinSuit will launch the selling order as and when the conditions mentioned by the trader are met. As a result, the Stop-Loss will become a Market trade order and executed at the best available quote for purchasing. When you choose a Limit order as the order type, the selling will take place at the price specified (which means it won’t become the Market order). Also, one can insert an extra percentage “spread” to ensure that the trade order is filled. On the other hand, the Take Profit order is used for realizing profits as and when the crypto market moves towards the preferred direction, automatically closing the trade position when the existing parameters have been met. Lastly, Trailing stop order is used for maximizing your trading activity’s profitability. It lets you dynamically follow the crypto market trend to grow your profits while minimizing losses simultaneously. With QoinSuit, traders interested in cryptocurrency investing can configure the range as either percentage or price and activate it together with the main trade order or after the latter is executed (directly from the trading portfolio).
Cryptonaire Weekly | April 20th 2021
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+44 (0) 207 193 2931
CRYPTONAIRE
WEEKLY CRYPTO investment journal
Portfolio The Portfolio function helps traders to take a look at the real-time details of their position. Thus, cryptocurrency investing enthusiasts can use this functionality to view the wallet type in use, the currency symbol, the quantity or balance of the cryptos in their portfolio. It is also used for viewing the average purchasing price available for their position, residual, or quantity available of a trade position that they may draw upon at the time of placing selling orders, hypothetical profit, and loss for their position. They can also click on the advanced order button to open a popup and launch their order directly.
Tokenomics In addition to the above functions, QoinIQ also offers the QoinIQ utility token to its users to access the QoinSuit platform and its services. Users can use the token for accessing the different levels of the QoinSuit platform. Thus, every level shall provide access to chosen exchanges, varying in terms of the membership level selected by the trader, allow a certain number of, up to unlimited, trades per period, etc. Apart from this, users will also use the tokens for accessing QoinSuit’s training version, as well as for participating in the personal training sessions.
CONCLUSION To sum up, QoinIQ’s QoinSuit Cryptocurrency Trading Platform is an excellent choice for traders enthusiastic about cryptocurrency investing. The platform allows them to manage their books while executing trade orders in different cryptos on numerous exchanges. At the heart of the QoinSuit platform is decentralized order management, market overview, extended conditional orders, multibook trading, high-frequency trading, margin trading, real-time price comparison, and a host of other functions that make it ideal for cryptocurrency investing and trading. With features such as multiscreen display, multi-window display, customizable watchlist, the horizontal book, toolbar, graphic tool, advanced order, portfolio window, etc., the QoinSuit Cryptocurrency Trading Platform puts the entire world of cryptocurrencies into your hands. So, if you are serious about cryptocurrency investing, and intend to earn profits by trading on a one-stop platform that allows you to access and trade on different exchanges, then QoinIQ’s QoinSuit platform is where you should be heading next.
To learn more about the QoinSuit Cryptocurrency Trading Platform, visit https://www.qoiniq.com/
Cryptonaire Weekly | April 20th 2021
52
+44 (0) 207 193 2931
CRYPTONAIRE
WEEKLY CRYPTO investment journal
Cryptonaire Weekly | April 20th 2021
53
+44 (0) 207 193 2931