Elastika: Blog Elastika: Blog https://www.elastika.org/blog/ Copyright by Elastika en Elastika Mon, 23 May 2022 04:30:12 -0400 Different Crypto Storage Options & How to Use them In the world of cryptocurrency, there is a growing threat from scams, hackers and thieves. With this in mind, keeping your funds safe is paramount. To do this effectively, blockchains use crypto wallets to store the private keys needed to access your funds. To make it even clearer, if you lose access to your crypto it’s likely gone forever, as there is no protection from a bank account of brokers. It’s estimated that over 3 million Bitcoins alone have been lost forever. 

You have many different options on the market for storing cryptocurrency, so let’s take a look at these options and the pros and cons of each. 

What is a Crypto Wallet? 

Crypto wallets allow users of a blockchain to undertake actions with their digital assets such as sending, trading, and storing. Although cryptocurrency usually remains on the blockchain, crypto wallets are a form of storage like a real-life wallet. The overall function of these wallets is to keep your private keys (the passwords that give you access to your cryptocurrencies) safe and easily accessible. 

The overall goal of your wallet is to not lose your private keys, as you don’t store the live crypto in the wallet, but only the way to access them. With this in mind, it’s important to choose the right hardware for your crypto wallet, for peace of mind, safety and usability.

How Does a Crypto Wallet Work? 

Each crypto wallet has a unique address that is a long string of alphanumeric characters. There are 3 forms of crypto wallets on the market currently, and these are software wallets, hardware wallets and paper wallets. Each different option has its own benefits and downsides in regard to convenience and security.

Each crypto wallet additionally is comprised of 3 key elements: 

Public Key: Similar to a bank account number.

Private Key: A way of verifying access to transactions, like a pin number or passcode.

Wallet Address: A hashed version of your public key that can be shared when you need to receive or exchange assets.

Once you create a crypto wallet, you will be issued a seed phrase, and this is a human-readable version of your private key, typically this can be a 12-word phrase that must be inputted in the correct order to gain access to a wallet. These seed phrases need to be kept private and secure to ensure you can always access your wallet and its contents.

The other important distinction to be aware of is between hot and cold crypto wallets. Hot wallets have access to the internet and are often used for exchanges. Cold wallets aren’t connected to the internet and store private keys on a device or medium, these are considered safer but reduce convenience. 

The Different Types of Wallets

Software Wallets

Generally considered a ‘hot’ wallet, software wallets are always connected to the internet in some shape or form. This is considered to be less secure, but more convenient to use.  There are some key types of software wallets to be aware of, and each one suits a different type of user. 

Mobile wallet:

These are designed specifically for mobile phones and allow for sending and receiving crypto a lot more convenient making use of mobile-friendly technology such as QR codes.

Desktop wallet:

This is when software is installed on a computer, offering more control over funds.

Hosted web wallets: used to interact with blockchains through a browser with keys and assets stored by a third party. 

Non-custodial web wallet: you can interact with blockchains through a browser or plugin, with users retaining full control of their assets.

Paper Wallet

Paper wallets are by far the most basic, but also, likely to be the most secure crypto wallet option. Paper wallets involve storing your seed phrases, private keys, QR codes and vital information on a physical medium, such as a piece of paper. 

Paper wallets can be highly secure as they never access the internet, and thus cannot be hacked, but are also vulnerable to destruction if they get lost, or are destroyed through events such as house fires. That being said, if you often exchange cryptocurrency, you may find it hard to input all your private key data by hand each time you require it. 

Hardware Wallet

Hardware wallets are devices designed to prevent private keys from being exposed to the internet, instead of storing the keys offline on the device itself. The hardware wallets look and behave like USB drives and are the most convenient form of cold storage.

When you want to access the funds, you simply connect the device to the computer with the device itself signing off on transactions before accessing the blockchain, essentially acting as a bridge in this scenario. It’s important to note, however, that hardware wallets are the most expensive option, but also offer a great compromise between convenience and safety. 

Our Verdict

As far as we can tell, each form of crypto wallet suits a different type of user, and are all safe and effective ways to store digital assets. Which type of wallet you require depends on how much you interact with the blockchain. For example, NFT collectors, or crypto traders can benefit from software and hardware wallets as they need to exchange crypto often. On the other hand, if you want to store crypto for a long period of time, paper wallets can be a helpful solution. Click here if you wish to know more about Crypto Storage options.

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Uncategorized https://www.elastika.org/blog/different-crypto-storage-options-how-to-use-them/ https://www.elastika.org/blog/different-crypto-storage-options-how-to-use-them/ Editor Fri, 15 Apr 2022 23:46:17 -0400
Everything You Need to Know About Liquidity Pools Liquidity pools are one of the foundational technologies behind the current Decentralised Finance (DeFi) ecosystem. Essentially, they are large funds of money used to facilitate token trading on decentralised exchanges (DEX). These pools of cryptocurrency are crowd sourced and provide the liquidity required for digital assets to be traded for each other using automated market makers. Liquidity pools are essential to yield farming, synthetic assets, blockchain gaming, on-chain insurance, burrow-lend protocols and automated market makers to name a few. Overall, liquidity pools and their providers are the reason we have such a flourishing decentralised finance ecosystem.  

We’re going to take a look at liquidity pools and uncover exactly what they do within DeFi. 

What’s a Liquidity Pool? 

In simple terms, a liquidity pool functions as a vault where users deposit different crypto assets to make DEX markets more liquid. When they deposit into a liquidity pool, users create trading pairs, which form a market. Then users can trade different cryptocurrencies for each other by using these trading pairs. 

The idea of a ‘vault’ allows for the whole process to be handled automatically by code. This ensures that liquidity pools are permission less. This allows for greater trust between parties as the entire process from start to finish is handled automatically, and everything is secure. Additionally, anyone can contribute to these pools, so they have the added benefit of being accessible too. 

How do Liquidity Pools Work?

Centralised exchanges tend to rely solely on books and market markets to boost liquidity and facilitate trades. This traditional model just doesn’t fork for DeFi as the trades are happening quickly on-chain and could incur high fees.

Instead of this, in liquidity pools, automated market makers (AMM) are used to facilitate on-chain trading and manage prices without the need for order books. AMM’s use complicated algorithms and smart contracts to constantly rebalance prices according to supply and demand and this allows traders to obtain positions using illiquid pairs that would be difficult to execute otherwise. 

This occurs because when a trade happens using an AMM, you are actively trading against the liquidity in the pool, making virtually any token pair possible (such as USDC-ETH). This also means that as a buyer you don’t need to match up with the seller, you only need there to be enough liquidity within the pool itself. 

Incentives for Liquidity Pools

To encourage users to deposit and lock in their cryptocurrency into liquidity pools, protocols offer incentives, often in the form of liquidity pool tokens. These tokens represent the user's stake in the pool and have a value of their own. This process Is known as liquidity mining or yield farming. During this process, users’ funds are usually locked up for a set period of time, with the reward calculated to be the annual percentage yield (APY) of their contribution overall. 

Many blockchains have their own token standards, but all follow a standard model. For example, Ethereum allows most deposits to be made using an ERC-20 token, with the yield rewards issued as the same, and then rewards for pledging assets into liquidity pools are funded by the protocol fees or are newly minted. 

What The Future Holds

The gap between blockchains is being bridged by liquidity pools. Known as cross-chain bridges, there is an emerging technology that allows different blockchains to interoperate as securely as possible. These bridges can facilitate the interaction between disparate networks’ token standards and smart contract codes, allowing for trading between them. 

As well as the growing DeFi insurance sector, liquidity pools are also being put forward as a way to boost voting power with governance tokens. With like-minded people pooling their governance tokens, users can effect change in different protocols if enough support is provided.

In addition, there’s an emerging DeFi sector known as insurance against smart contract risk, the implementation of these insurances is powered by liquidity pools, and is expected to grow in the future.

Risks Involved

Risks related to liquidity pools are low, but there are some to be aware of. 

The first is impermanent loss. This is a loss in dollar value that occurs when the price of your locked-in assets changes in relation to when you added them to the pool. This loss can sometimes be small, or catastrophic, so make sure to be aware of how to reduce this risk.

The next issue that comes up is smart contract bugs, these occur when you deposit funds into a pool. This means that there are no middlemen holding your funds, so these smart contracts used can suffer from bugs. These bugs can be human error, tech errors or exploits such as a flash loan that can lose your funds forever. 

We would also advise that you be wary of projects where developers have permission to change the rules governing the pool itself. Some developers have an admin key or access to the smart contract code, and this can enable them to potentially undertake malicious undertakings like taking control of the funds in the pool.

Although these risks are rare, awareness can also reduce risk exponentially, so make sure to keep an eye out for these factors. 

The Verdict

In the current DeFi technology stack, liquidity pools are emerging as a core technology. They enable decentralised trading, yield generation, lending and much more. We have found that liquidity pools are the perfect solution to the current illiquidity issues DeFi faces, but are complicated to understand and undertake solo. 

If you’re ever in doubt and want to partner with the right people, we have the lowest fees in Australia for our crypto management systems. 

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Uncategorized https://www.elastika.org/blog/everything-you-need-to-know-about-liquidity-pools/ https://www.elastika.org/blog/everything-you-need-to-know-about-liquidity-pools/ Editor Fri, 15 Apr 2022 03:49:15 -0400
NFT Drop for the World’s first Metaverse Cricket Game to be Underway Soon – Here are the Details!

Lately, there has been a lot of chatter around the news of the NFT drop event for the world’s first NFT-based cricket game. We can see a lot of social media posts talking about the information in detail and experts decoding the possible nature of tokens to be provided in the loot. As the time ticks, the venture behind the event released a few masterstroke updates in the space of a few days, which got everyone on their heels. Adding to this, a lot of crypto and NFT bloggers have been expressing their opinions on the upcoming NFT drop, which further hypes up the event as it nears. In this blog, we will see more about the game and its NFT drop in the current discussion and also guide you a little on signing up for the NFT launch.

What is the Game All About?

The world’s first NFT-based cricket game, “Meta Cricket League,” is the game we are talking about, and the game’s developers are planning to launch their maiden NFT collectibles through the Super Loot drop. The NFT drop event is set to occur on April 22, 2022, and a live countdown has been running on Jump.trade, the official NFT marketplace platform associated with the game, where the event will occur. All the products mentioned above have been developed by GuardianLink, an NFT applications development firm popular for its NFT security protocols and celebrity NFT marketplace platforms.

What will We have in the Super Loot NFT Drop?

The Super Loot NFT drop would contain various kinds of NFT collectibles, including digital player cards, digital cricket equipment cards, and authenticated original signed physical NFTs from legendary cricket players. Also, we can find information in the Jump.trade NFT marketplace’s website says anyone who purchases NFTs from the Super Loot would get any one of the following combinations of NFTs - “Metaverse cricket team players NFT,” or “Authenticated signed digital NFTs of legends,” along with the metaverse cricket team player NFTs. One can also view the prices of the NFT collectibles on the Jump.trade NFT marketplace platform’s website. Buying one NFT collectible costs $25, while purchasing a set of five NFT collectibles costs $125 and comes with a free treasure box. The Super Loot NFT launch event is set to feature 25,000 NFT collectibles in total, which is a large number in the context of sporting-based metaverse games.

How to Participate in the Super Loot NFT Drop?

For being part of the Super Loot NFT drop, one should register in the Jump.trade NFT marketplace platform as a user. To do so, go to the “Sign Up” tab and carry out the typical account creation process by providing some basic personal information (name, email address, and mobile number) and a strong password to protect your Jump.trade account. After verifying your email address through the steps given in the verification email, you can start going around the Jump.trade NFT marketplace platform as a registered user. But, to be able to purchase an NFT collectible, you should need to fill in the stable coin Tether/USDT in the digital wallet given in the marketplace platform. Note that you need to load in at least 100 Tether/USDT to be able to carry out transactions on the platform. After that, the only thing you could do is to patiently wait for the Super Loot NFT drop event while looking out for the occasional update on the website of the Jump.trade NFT marketplace.

Cricket X NFTs – How would the New Game Change Things?

Cricket has already seen NFTs based on it with a few marketplaces earlier. They monetized the video clips from various cricket tournaments across the globe. Although those ventures had the intention of stepping into the gaming world with NFTs, the Super Loot NFT drop came as a surprise as no one expected a new player to enter the almost uncompetitive blockchain cricket gaming market. With their intentions, the developers made it clear that their mission is to create the first metaverse for cricket, where cricket fans, professional gamers, and NFT enthusiasts can mingle and socialize while playing a fun game of cricket. 

With the current metaverse-based games going in a more social platform-like way and with ecosystems like Axie Infinity thriving without a metaverse, the Meta Cricket League NFT game could prove to be the bridge between sporting games and the metaverse. With that being said, the Super Loot NFT drop event would pave the way for further up-gradation of the metaverse for cricket.

Also, as far as the video gaming industry is concerned, cricket has not been one of their strong revenue generators. Even though the cricket gaming products of some gaming world giants got popular and are cherished by millions even today, the games were victims of piracy that, resulted in a huge revenue loss for the developers. The prospect of play-to-earn (P2E) might answer most of the problem, as players can now get some kind of monetary return for their investments, unlike the older video games. With P2E gaming, players can now earn additional income even when playing the game as a hobby.

Conclusion

Therefore, we can conclude that the upcoming NFT drop event from Jump.trade NFT marketplace has earned enough attention through various means. One should not miss the event, especially if they are enthusiastic about cricket, gaming, and NFTs. Also, the future cricket game for which the NFT items are to be sold is promising, given the opportunity provided to the players through the P2E option. As the NFTs are aimed toward different spectra of people, they can serve multiple purposes, including being in-game items, virtual collectibles, and tradable digital assets. Thus, no one would want to skip the good part of the blockchain gaming world, which is yet to come.

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Uncategorized https://www.elastika.org/blog/nft-drop-for-the-worlds-first-metaverse-cricket-game-to-be-underway-soon/ https://www.elastika.org/blog/nft-drop-for-the-worlds-first-metaverse-cricket-game-to-be-underway-soon/ Editor Sat, 09 Apr 2022 10:07:02 -0400
Legal Guide for Cryptocurrency Investors - What You Need to Know

Cryptocurrencies have captured the public’s imagination, becoming one of the most widely discussed financial innovations in recent years. If you follow news on crypto, you can see there are a lot of things happening in this field each day.

The fact is, we’re still in the early days of this new digital asset class, and the regulatory landscape around it continues to evolve. As a result, it can be challenging for individuals who want to get involved with cryptocurrencies to understand where and how to start. If you’re new to the world of cryptocurrency investing, you’ve come to the right place. This article is a legal guide designed to answer the most frequently-asked questions around investing in cryptocurrencies.

What does the law say about trading cryptocurrencies?

Investors who are interested in trading cryptocurrencies must first understand the differences between a speculator and a trader. A speculator buys and sells cryptocurrencies on the basis of expected profit, while a trader may also hold some assets (such as cryptocurrencies, ICO tokens, NFT or crypto art) as a long-term investment. There are also professional traders who handle cryptocurrency trades for clients.

When it comes to trading cryptocurrencies, each state has its own set of rules. While many U.S. states have yet to address cryptocurrencies specifically, most recognize that digital assets fall under existing securities laws.

In addition to these states, it is also important to note that the state of Wyoming has a very interesting and unique law with regards to cryptocurrencies. The law in question stipulates as follows:

"The sale or offer for sale by any person, directly or indirectly engaged in business, of securities registered under this chapter shall be deemed unlawful unless such securities are sold only upon delivery thereof at the place designated therein."

Is it risky to invest in cryptocurrencies?

Cryptocurrencies are not risk-free assets. Like any other financial assets, cryptocurrencies carry price volatility risk. A cryptocurrency’s price could rise or fall at any given moment, making the potential returns from holding the asset potentially unpredictable. Due to the recent growth of the cryptocurrency market, many new investors may believe that cryptocurrencies are a more accessible investment vehicle than they actually are. While it’s true that cryptocurrencies can be traded online and even bought and sold with fiat currency, they are not a mainstream investment method. In fact, only a small percentage of people even know that they exist.

Is it illegal to own cryptocurrencies?

No, it is not illegal to own cryptocurrencies. Like all financial assets, it is up to the individual to decide what, if anything, to do with their cryptocurrencies. The only thing that is illegal is if a person owns cryptocurrencies with the intention of committing a crime.

How secure are cryptocurrencies?

Like any other financial asset, cryptocurrencies are only as secure as the system can make them. In other words, the more popular and successful cryptocurrencies become, the more secure they will be.

Cryptocurrencies are virtual, decentralized currencies that operate via blockchain technology. There is a limited supply of cryptocurrencies in circulation and no central bank or government can control their creation like other fiat money (tied to a specific country,) which means they cannot be inflated at will. The anonymous nature of these tokens also makes them difficult for hackers to steal from centralized exchanges, as this would require hacking into every single node on the network simultaneously -- something even large-scale state actors struggle with.

What are the tax implications of cryptocurrency investing?

Cryptocurrencies are not conventional investments. While some people liken them to stocks, bonds, or gold, these assets are actually tangible items that can be touched or held in the hand. Cryptocurrencies, on the other hand, exist solely as computer software. They are not tangible, and therefore, they do not generate income or require any sort of beneficence.

Because of these factors, it’s important for cryptocurrency investors to understand how they are treated for tax purposes. For example, if you bought $10,000 of Bitcoin in 2013 and recently sold the coins for $8,000, you would have a $2,000 gain for the year, and as a result, you would owe taxes on that $2,000 gain. In a traditional investment scenario, where you bought shares of a company, you would only have taxable trading gains if you sold the shares at a profit.

Bottom line

As with any investment, it’s important to do your due diligence before diving in head first. Keep in mind that cryptocurrencies are new and volatile assets, and as with any new investment, there are associated risks. If you’re interested in investing in cryptocurrencies, consider speaking with a financial advisor first to learn more about the market, the assets themselves, and the legal issues related to cryptocurrency investment.

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Uncategorized https://www.elastika.org/blog/legal-guide-for-cryptocurrency-investors-what-you-need-to-know/ https://www.elastika.org/blog/legal-guide-for-cryptocurrency-investors-what-you-need-to-know/ Editor Thu, 31 Mar 2022 10:53:08 -0400
Mobile Apps Security Testing Mobile Apps Security Testing

Mobile applications just like any other technology require precise security testing in order to prevent security breaches and enhance the user experience. Mobile pentesting is a service offered by leading testing companies in the industry, such as Hacken. The mobile environment requires specialized testing, which includes evaluating client safety, web security, hardware, and more.

Penetration testing for mobile programs is crucial to locate any potential weak spots, loopholes, breaches, etc., before offering an application to users. This is an important step in any application development, as such testing allows tweaking the code, design, and other parts of the app before actually releasing it. Just like with smart contract auditing services, mobile pen testing saves companies a lot of money, as the losses that might occur because of data theft will be much higher than the cost of specialized testing.

The Benefits of Mobile Penetration Testing

Hacken specialists have years of experience in mobile testing. Each step of mobile app testing is coordinated with the customers to ensure that everything goes smoothly and the app users are not inconvenienced in any way. When requesting an app pen testing, each client will be recommended a specific application to test based on their security level. Even after running all the tests, Hacken keeps in touch to offer further improvement for applications.

Each mobile pen testing process involves the following stages:

  • Preparation;
  • Evaluation;
  • Exploitation;
  • Reporting.

First, a pen testing specialist gathers information about the app. Next, each app is evaluated to see whether there are potential weaknesses. After discovering certain breaches, specialists work with these weaknesses to test them in various scenarios. After all the necessary tests are performed, the testing team provides detailed reports with the results of their work. Each discovered weakness is described thoroughly, including its potential threat for the application. Special recommendations are also provided to solve all discovered issues.

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Uncategorized https://www.elastika.org/blog/mobile-apps-security-testing/ https://www.elastika.org/blog/mobile-apps-security-testing/ Editor Fri, 21 Jan 2022 22:57:38 -0500
Drive to crypto businesses with more payment options at UTORG on-ramp

Crypto FinTech firm UTORG broke down some more silos that stymie mass crypto currency adoption by adding 5 alternative payment methods to its solution. With more checkout options on board, this on-ramp service extends the comfort zone where buying popular coins is fast and easy to almost 200 countries on all continents and in all regions, except for Antarctica. 

Indeed, the vast majority of on-ramp services only allow checking out with a bank card, while UTORG exchange keeps improving and accelerating the flow; more and more users can choose familiar and trusted payment gateways and avoid entering any sensitive financial information when buying crypto. 

Now available on UTORG are: 

  • Apple Pay and Google Pay

  • NeoSurf

  • Instant bank transfers via 20+ Asian banks

  • UPI

  • MULTIBANCO

  • MISTERCASH

Clearly a benefit for end-users and crypto enthusiasts all over the world, this improvement makes UTORG widget a true weapon of mass adoption any crypto business can integrate into their flow within 24 hours to get more new customers, achieve higher sales figures, reduce attrition often caused by suboptimal checkout process, enhance user experience and overall quality of service. 

UTORG is a crypto fintech company operating in almost 200 countries in both B2C and B2B segments. It’s key offer is a payment widget that can be easily integrated with any app or website and allows buying crypto in several clicks. Benefits of thе service include a friendly user-interface, fast integration, low fees, varied payment options, and short AI-based identity verification. The service has valid licenses, obtained a level 2 PCI DSS certificate that proves compliance with strictest personal data and information security requirements, in particular, GDPR. All payment systems available at UTORG also use top-notch data-protection tools, e.g. 3-D Secure protocol implemented by MasterCard and Visa.

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Uncategorized https://www.elastika.org/blog/drive-to-crypto-businesses-with-more-payment-options-at-utorg-on-ramp/ https://www.elastika.org/blog/drive-to-crypto-businesses-with-more-payment-options-at-utorg-on-ramp/ Editor Tue, 07 Dec 2021 22:34:26 -0500
Best Places to Buy Bitcoin Instantly Have you ever considered investing in Bitcoin? Given how much talk there is about cryptocurrency these days, the idea may appeal to you. But the conversation about cryptocurrency goes in many directions.

If you stumble upon a Facebook crypto group or Bitcoin tweets, it can seem a little daunting. As a complete beginner, you don’t have to worry about developing the perfect investment strategy.

The first step is to learn how to buy Bitcoin instantly. UK residents interested in purchasing Bitcoin can join a crypto exchange platform, deposit GBP and cryptocurrency. To save you the trouble of finding a reliable exchange, we’ll give you four excellent options to consider.

What Makes a Crypto Exchange Worth Your Time?

First and foremost, you must find a Bitcoin exchange platform that is accessible in the UK. This is not much of an issue, as most significant platforms operate efficiently in the UK. Check whether the platform is authorised to work under Financial Conduct Authority (FCA.)

Another crucial criterion to pay attention to is the security protocols on the exchange platform. The best exchanges will offer insurance policies to their users to protect their funds in case of fraud or a cyber-attack. If this is an essential feature for you, choosing a popular and widely used exchange is the best way to go.

When you’re buying Bitcoin for the first time, you also have to worry about fees. Many users choose platforms with lower exchange fees, but that’s not always the best move.

A high fee structure at the big exchanges provides a more straightforward process and ensures users can buy Bitcoin instantly. UK crypto users can typically choose from several deposit methods which come with different exchange fees.

Finally, you should pay attention to the liquidity of the exchange platform. If these types of brokerages don't have enough trading volume, that can deter users from buying and selling in the long-term. When it comes to Bitcoin, major exchanges in the industry are your safest bet.

Best Bitcoin Exchange Platforms to Consider

One of the benefits of being a Bitcoin investor in the UK is having your pick of the crypto exchanges.

Still, it's easy to go in the wrong direction and end up buying coins from an unregulated platform. To minimise the chances of that happening, here are four great Bitcoin brokerages to consider.

eToro

This is a platform that has been around for a long time. It functions as a multi-asset exchange and is fully regulated by the FCA. Users can benefit from a free digital wallet that is available as a mobile app as well.

It also has a low minimum requirement for trading, and the conversion rate from fiat currency to Bitcoin is 5%, which is at the higher end.

Gemini

Choosing Gemini means getting access to over 30,000 retail stores where you can spend your Bitcoin. The company has its proprietary payment platform, which makes it an excellent choice for those who want to spend their Bitcoin.

Plus, as a new user, you will receive £110 worth of Bitcoin if you invest £750 within 30 days. You also don’t need to keep a minimum amount of Bitcoin in your account to maintain it.

Coinbase

This platform is a household name in the crypto industry. It's one of the top choices for many Bitcoin investors as it has a highly user-friendly interface and offers many educational tools.

Furthermore, the platform has high liquidity and can withstand a sudden fall in Bitcoin's price. They're an excellent choice for Bitcoin holders but don't offer too many altcoins.

Coinmama

Without a doubt, this is one of the most successful exchanges worldwide. It operates in 190 countries and has over three million users.

The platform offers incentives for first-time users and even provides a non-custodial version of a digital wallet to give them complete control of their assets.

Buying Bitcoin Instantly and Safely

Investing in Bitcoin has become easier than ever. You don't need a significant starting investment, and most well-established exchanges allow effortless navigation.

As Bitcoin users grow every day, many platforms offer incentives and perks to attract more users. However, you have to be careful not to get drawn in by a brokerage with low fees and bonuses that sound too good to be true.

As a UK Bitcoin user, make sure the FCA regulates the platform. If they offer insurance policies, that's even better.

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Uncategorized https://www.elastika.org/blog/best-places-to-buy-bitcoin-instantly/ https://www.elastika.org/blog/best-places-to-buy-bitcoin-instantly/ Editor Wed, 24 Nov 2021 08:41:33 -0500
Rainbow Token: The Whitepaper In 2021, projects on the Binance Smart Chain became very popular. Now you can see the release of hundreds of projects based on the BSC. Each of these new projects is competitive in one area or another. Some are unique in their way from a trade point of view. One of these projects is Rainbow Token (RAINBOW).

What is RAINBOW

Immediately after the release, the RAINBOW cryptocurrency made a splash, selling more than $ 210,000 tokens in 6 minutes after announcing the pre-sale. Thus, more than a thousand people invested in the project immediately after its opening.

The uniqueness of the token lies in the combination of all the protocols of the system. These include the ability to receive additional tokens in the lottery and the ability to donate them to charities. It's not a secret for anyone how cryptocurrencies have negatively affected the energy industry in recent years, thereby negatively affecting the environment. With RAINBOW, you can contribute to the remediation of the adverse effects of the cryptocurrency industry.

Any transaction on the Rainbow Token network is charged a 7% commission. This tax, in turn, is divided into seven equal parts, providing the essential functions of the token.

RAINBOW Functions

Rainbow Token includes seven innovative solutions and BEP-20 protocols. He is using these protocols together, combining them into a powerful crit project ready to withstand any rate fluctuations.

So let's take a closer look at the main 7 RAINBOW protocols in more detail. Each of them is named after the primary colors that make up the classic rainbow. Namely:

  1. Red or Burn. The function of burning tokens from the circulating supply after each transaction. The protocol transfers 1% of the burned tokens to the so-called dead addresses. These addresses do not have an owner since they do not have a private key, so the protocol irrevocably burns tokens and reduces turnover. As a result, with an increased demand for RAINBOW, part of the tokens will always be burned, positively affecting their value.

  2. Orange or Buyback. The buyback function also collects 1% of tokens after each transaction and stores them for sale and subsequent buyback of tokens and liquidity pool. But tokens bought in this way are instantly burned. The orange function allows you to raise the lower limit of the RAINBOW cost. The Buyback protocol is thus causing a stir.

  3. Yellow or Reflection. It's a feature that allows you to increase your balance simply by keeping tokens. It works in such a way that 1% of each transaction is returned to each participant, distributing the amount between them depending on how much RAINBOW is in the holder's wallet. Thus, by investing in RAINBOW, you have the opportunity to receive a percentage of the available tokens for any transaction. Also, this feature encourages the owner to keep more tokens in their accounts.

  4. Green or Charity. This feature allows you to invest in the planet's future by donating 1% of each transaction to charity. Tokens directed to charity go to fight poverty, research the fight against cancer, and solve environmental problems and various kinds of animal shelters. All organizations that receive funding from RAINBOW in this way are officially registered. Each investor can independently track where exactly is directed and what amount.

  5. Blue or Auto-liquidity is a function that allows you to increase a token's liquidity by automatically sending 1% of each transaction to the liquidity pool. This feature also enables you to raise the lower limit on the token's value as liquidity increases after each trade.

  6. Indigo or Marketing & Development is a protocol that provides direct funding for a project. Thus, RAINBOW was not initially distributed among the developers. Still, the function of transferring 1% of each transaction to the marketing wallet was prescribed. Developers use funds from this wallet to promote the token and popularize it. Thus, the Indigo protocol makes the crypto project self-sufficient without requiring third-party investments.

  7. Violet or Lottery. The protocol takes 1% of each trade and sends it to the lottery bank. When a certain threshold of the amount in the bank is reached, each participant in the transaction gets a random number. Then everything works like in a lottery - the more losers, the more significant the amount in the bank. Thus, the Violet protocol stimulates investors, purchasing RAINBOW an exciting and intriguing experience.

Anti-whale Tax

The AWT mechanism allows you to successfully dump large sales, thereby preventing the dumping of tokens. As you know, this kind of large dumping leads to panic in the market, which confuses most investors.

The essence of AWT is that transactions over 500 million tokens are taxed at 21%. Thus, large investors are not eager to sell their RAINBOWs.

The AWT mechanism also allows you to track the history of sales from one wallet within 24 hours. Thus, if the amount of sales exceeds the designated limit of 500 million RAINBOW during the day, the commission will be automatically deducted from this wallet.

RAINBOW Positions on the Crypto Market

Since the beginning of the pre-sale, Rainbow Token has shown great potential. It could be a good investment opportunity.

At the time of writing, Rainbow Token is trading at $ 0.000000013498 with a project market cap of $ 11.0 M.

The value of Rainbow Token is expected to continue to rise, as scarcity tends to drive upward price gains. As of October 23, 2021, 29,234 people have already invested in the project, and the liquidity of the cryptocurrency is $ 970.8 k.

Investors in Rainbow Token have already donated over $ 12,500 to charity, which has made the cryptocurrency very popular in the market.

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Uncategorized https://www.elastika.org/blog/rainbow-token-the-whitepaper/ https://www.elastika.org/blog/rainbow-token-the-whitepaper/ Editor Mon, 25 Oct 2021 09:41:49 -0400
3 Important Services That Trading Platforms Should Provide

Online brokers have become a massive deal in the trading market, and they've given rise to the influx of investors willing to take the risk in crypto trading. Aside from the added convenience of being accessible at any time, there are many more added benefits of trading with an online platform.

Traders get to enjoy unlimited access to their online broker, quick and easy for opening, closing, and managing market positions. Investors also get offered several educational opportunities to learn more about crypto trading.

Truly trading cryptocurrencies is an investment opportunity that has become very popular, and over time it will continue to gain attention among the masses. For many, online trading platforms would be the first experience they have with buying and selling assets for profit.

Despite the size of the online trading market, it can be challenging to find an excellent place to trade crypto. This article intends to educate you on why you need to identify a suitable platform.

SERVICES A GOOD PLATFORM SHOULD PROVIDE

·       SECURITY

This is one crucial feature that is used to determine which trading platform is better. It is hard to choose which crypto trading platform is the best. However, the security a platform can offer its users is a factor that will set it apart from other platforms.

Traders need to trust the platform they choose to trade with personal information, and the trading platform needs to ensure that this information does not fall into the wrong hands.

There are so many measures a platform can take to protect user information, and as a trader, you need to make sure that the platform you trade with has set these measures in place.

·       LOCATION

Another vital service trading outlets should offer is availability. Some trading platforms may not provide this to their users for reasons like sanctions, varying local regulations, and many other reasons. When choosing an online trading platform, you need to confirm its availability in your country or state.

Make necessary research to find out the status of the trading platform of your choice, and be open-minded. It can be very disappointing to have your mindset on a particular platform to realize that it is not available to you because of location problems.

·       CUSTOMER SERVICE

An excellent online trading platform should provide the necessary service you need to go about trading activities. Customer service is one essential feature that you do not want to ignore when picking a trading platform.

Crappy service cannot be satisfying to anyone, especially when you have complaints or issues you need to get resolved. This is why every crypto trader should be aware of the services their trading platform has to offer.

Information like this can be obtained from the reviews of other users, so take some time and go through these reviews to find out what people have to say about a particular platform before you commit to it.

Customer support should be dedicated, reliable, and attentive. You must read the support terms before choosing a platform. Some of these platforms may not reach the industry-standard level, and you'd better know what to expect.

You may not necessarily think these things to be essential or believe they should be a deciding factor on the platform you choose to use. Still, you need to understand that these are just a few key features you need to look out for when selecting an online trading platform. An online broker that can offer you all of this is Paragontraders.

WHY YOU SHOULD CHOOSE Paragontraders

1.     This platform offers an easy and swift registration process, cutting down the long list of requirements and steps other platforms would request for new users.

2.     Excellent customer service team available to handle any issues you might face. Paragontraders team is beneficial and patient with its users, so with Paragontraders, you can finally say goodbye to horrible customer service.

3.     Automatic trading features are designed to execute profitable trade orders on behalf of the user. Paragontraders is committed to ensuring that users enjoy good service and make profits while trading.

4.     Global boundaries do not limit Paragontraders, so if you have been trying to find a platform that works in your country, then look no further. Paragontraders is here for you.

5.     Security of data is also a guarantee with this platform as protective measures have been put in place to protect users' information. This platform is also properly guarded and not susceptible to hackers.

This platform is one of the highly profitable crypto exchange platforms compared to other such platforms in the market today. It was built and regularly optimized by an elite cryptocurrency trader to achieve a more than 90 percent success rate. Its excellent features and services are what sets it apart from the rest.

Paragontraders offers its users a secure platform to trade crypto assets like bitcoin and ethereum and provides services that guide beginners on investing in cryptocurrencies. Upon registration, a specific wallet address gets created for each user through which traders can make deposits and trades to help trading activities move smoothly.

Its user-friendly interface is also another excellent feature Paragontraders offers its users. This is great for beginners who haven't quite understood the market thoroughly. It's also of great assistance to advanced traders to place an order or close a trade, which traders can do immediately on Paragontraders.

This platform is helpful and easy to navigate, offering additional charts and tools to boost the trading experience. Paragontraders is an online trading platform tested and trusted by many traders to provide them with the necessary services they need.

CONCLUSIONS   

There’s an unlimited amount of online trading platforms out there. However, choosing to trade with Paragontraders offers all the above, plus the confidence of knowing that you're dealing with one of the most trusted online brokers on the internet.

In our effort to fight crypto scams, you have to sign up with an invitation link from the website, so this way, we make sure we have a real and active community of traders.

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Uncategorized https://www.elastika.org/blog/3-important-services-that-trading-platforms-should-provide/ https://www.elastika.org/blog/3-important-services-that-trading-platforms-should-provide/ Editor Tue, 12 Oct 2021 03:11:43 -0400
How to Trade Cryptocurrency with Leverage

Investing in cryptocurrencies has grown in popularity in recent years to acquire access to significant earnings through successful trading. Many traders have heard the term "Leverage Trading," but few understand what it means.

Margin Trading, also known as Leverage Trading, is trading in cryptocurrency with borrowed funds. If you want to deal with cryptocurrencies, leverage trading is the way to go. It enables you to borrow money from brokers to increase your buying power and profit margins. Continue reading if you want to understand more about leverage crypto trading with an ECN Forex Broker, how it works, and the benefits and drawbacks that come with it.

What Is Cryptocurrency Leverage Trading?

In the crypto world, leverage trading refers to the technique that allows investors to perform spot trades (buy and sale) using borrowed funds from brokers. Typically, these funds surpass the investors' account balance. As a result, it's a great strategy to boost profits by raising purchasing power. The best part about this type of trading is that it can be done with a tiny quantity of money. You can't even picture that for regular trading! For example, a trader who begins leveraged trading with a $100 margin can trade up to 10 x margins, or $10,000 in margin size. However, you should be aware that Leverage Trading has a high level of risk and can result in significant losses. As a result, newbies should avoid this sort of trading, as many seasoned traders lose a lot of money. Experts in conventional trading, on the other hand, can invest in lower quantities for crypto margin trading.

Why do Businesses engage in Margin Trading?

Companies that have a capital shortfall can borrow money from brokers to use in manufacturing. This serves as a revenue generator. However, the risk grows if the business does not generate as much revenue as planned. As a result, there's a reasonable risk you'll wind up with more responsibilities than assets. By now, you've probably realized that leverage trading is a two-edged sword. Not only does your investment amount grow, but so do your hazards! This is because leverage trading in Crypto can only be profitable if the market behaves as expected. It's not meant if it flows in the opposite direction.

Pros and Cons of Leverage Trading

Margin trading assets such as cryptocurrency, like all trading tactics, has benefits and drawbacks. To a considerable extent, the benefits and drawbacks are mirror images of one other. For example, your potential rewards are higher, but the sum of money you can lose if a deal goes against you is also higher. Like other trading methods, you may simply and rapidly spread your portfolio at the cost of a significantly larger risk.

Top Crypto Leverage Trading Exchanges

Here is a comprehensive list of the most well-known cryptocurrency leverage trading platforms for trading online assets with leverage. Features, utilization, leverage amount, prices, customer assistance, and obscurity are all included in this evaluation.

  1. Binance

Since its inception in 2017, this platform has grown at a breakneck pace. With 1.4 million transactions per second, it is currently the world's largest digital currency exchange marketplace. Binance leverage trading is available on Android and iOS mobile devices. It is the most popular trading software due to its simple user interface and smooth operation. You'll be able to check your profit and loss, as well as acquire details about your transaction history using the app. To use the Binance leverage trading feature, you must first complete the KYC process, which involves verifying your identity and, most crucially, ensuring that your home country is not on Binance's blacklist. Remember that Binance has lately discontinued offering margin on the AUD, EUR, and GBP.

  1. ByBit

This exchange platform (both long and short coins) was founded in 2018 and is specialized in derivatives trading. Exchange platforms like Binance futures and Bybit are perfect for obtaining maximum availability for margin trading. Beginners can also benefit from the ByBit mobile app's user-friendly design and use its insurance money to cover damages in the event of bankruptcy. It has around 2 million active users and is based in Singapore.

  1. FTX

If you're looking for a cutting-edge crypto exchange platform, FTX is the place to go. This platform, founded in mid-2019, allows insurance funds and an unusual quantity of liquidity for its members. Residents of the United States must use FTX. FTX has a three-tier liquidity structure that provides for many marginal tokens. Please keep track of all borrowing rates, as they are subject to change at any time.

You should have a good notion of the finest crypto leverage trading platforms in the market by now. However, because these exchanges handle such large sums of money, the possibility of money theft rises as well. As a result, use caution when dealing with any kind of borrowing or day trading on these exchanges. On the other hand, one of the most significant advantages of adopting these platforms is that they provide superior security features such as two-factor authentication.

Conclusion

While a major outbreak is taking place, the ideal strategy for generating digital money is to use Crypto Leverage Trading. On the other hand, users must be aware of hackers to secure their crypto exchange service from malicious hacking. Keep your money on these trading platforms for as little time as possible for maximum security. To keep your funds safe, withdraw your profits using a reputable bitcoin hardware wallet.

At first glance, leverage trading appears to be a bit intimidating. However, if you gain experience, you will be able to trade in a high-yield market. Before you decide to invest in cryptocurrencies, take the time to learn about the unique features and hazards involved. You can learn the fundamentals of leverage trading from a variety of sources after extensive research, but you must invest your hard-earned money in the right system. Investing tiny portions in leverage trading will allow you to learn while reducing the chance of significant losses.

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Uncategorized https://www.elastika.org/blog/how-to-trade-cryptocurrency-with-leverage/ https://www.elastika.org/blog/how-to-trade-cryptocurrency-with-leverage/ Editor Wed, 29 Sep 2021 23:44:05 -0400
Do Turkey’s Troubles Mean Bad News for the Commodities Market? Since the pandemic began a large demand/supply imbalance in the commodities market led to rising prices, with some rates being unprecedented. Higher costs for consumers are a major headwind for the global economy and countries known as large exporters play a crucial role in balancing the situation.

In the case of Turkey, problems come from different fronts, including internal politics, border issues due to the withdrawal of the US from Afghanistan, wildfires, and others. Although people involved in the financial industry can take advantage of commodity price volatility via platforms like Trustpac, that is not the case for those who were hit by the pandemic and are now struggling to find work.

Political instability

Recep Tayyip Erdoğan is one of the most controversial political leaders, serving as president since 2014. Over the years, he has been accused of using his influence to gain more power and took steps that drove the country away from NATO allies. Political issues in Turkey emerged before the pandemic and the rapid depreciation of the Turkish Lira affected local consumers.

On the positive side, it made exports more attractive, even though political instability is generally a drag on economic activity. Internal issues are at risk of being accentuated by external factors, including the ongoing border crisis.

Border issues

As US troops withdrew from Afghanistan, fears of Afghan migrants pouring through Turkish borders emerged. Despite Turkey not having a border with Afghanistan, authorities are still concerned, since Turkey is the gateway to the rest of Europe and is therefore considered a haven for many Asian immigrants. The country built a border wall to stop refugees, according to Euronews, stretching over 155 kilometers.

Both Turkey and Pakistan plan to work together in order to bring stability to the war-ravaged country. The next couple of months are expected to be challenging for the commodities market, especially as the Delta variant spread is leading to a new surge of cases around the world.

That could exacerbate even further supply chain disruptions and could put upward pressure on already-elevated inflation.

Wildfires

The top Turkish exports are iron, steel, electrical machinery, equipment, clothing, and accessories, accounting for tens of billions of USD each year. The political instability and border issues were joined by the weather going crazy in the Mediterranean area.

A month ago, eight people were found dead after wildfires had emerged in southern Turkey, in an area with coastal resorts, which forced tourists to flee. All of these problems can put pressure on the commodities market and as the country is a net exporter, the rising prices will certainly affect neighboring nations.

Is Turkey large enough to affect the commodities market?

Trading with Trustpac might be one of the ways to take advantage of commodities volatility, but the problems faced by Turkey are not local and can be spotted in other countries as well. Turkey isn’t the largest exporter globally but it can certainly make matters worse in an already fragile situation. Experts already warn that inflation might not be transitory as expected, and instead, could extend well into 2022, creating headaches for fiscal and monetary authorities.

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Uncategorized https://www.elastika.org/blog/do-turkeys-troubles-mean-bad-news-for-the-commodities-market/ https://www.elastika.org/blog/do-turkeys-troubles-mean-bad-news-for-the-commodities-market/ Editor Wed, 01 Sep 2021 23:55:28 -0400
Coinrise – becoming financially independent! What is Coinrise?

Coinrise is a premium online trading platform offering professional services for traders living all around the world. The brand is owned by a Canadian-based company and benefits from combined years of experience with clients from many different sectors.

This was the main denominator that eventually led to the creation of a secure, advanced, and user-friendly platform, offering traders the user experience they desire. The main goal of Coinrise is to create opportunities and help customers intelligently manage their assets and investments.

Cryptocurrency trading, as well as several investment opportunities, are available when opening an account with Coinrise and that is one of the edges this brand holds when compared to other competitors. Traders looking for a new provider to work with might find this Coinrise review informative.

Advantages of working with Coinrise

What users who don’t already have an account with Coinrise need to know is that there are advantages to working with them:

  • A series of comprehensive services – the list of services currently provided by Coinrise includes research, trading, and sales across a wide range of products and equities. Cash and derivatives are available, and with the proper technology, customers can act when new opportunities show up.
  • Flexibility in tandem with reliability – Coinrise offers intermediation and advisory services depending on the customer’s expertise. This company works with corporate customers from all around the world and that facilitates the provision of services with the highest quality.
  • Client-centric approach – Coinrise empowers clients to make smart decisions, using innovative technologies and dedicated customer support, ensuring each trader/investor gets exactly what they need.

Coinrise Knowledge Center

When it comes to the financial markets, education is a continuous process. To help those who want to stay updated with all the latest news, as well as valuable educational resources, Coinrise has a dedicated knowledge center where new materials are constantly added.

Users can read and understand why markets behave in any given way, and in doing so, make well-informed decisions with their hard-earned money.

Coinrise Accounts

To ensure ample diversity, Coinrise currently boasts an account type offer that includes 6 different solutions. The Mini account requires as little as 250 EUR in initial deposit and in exchange traders benefit from raw spreads, competitive commissions, 24/6 customer support, and an up to 50% welcome bonus.

Those willing to deposit more while aiming to get access to more features, will be pleased to see Silver, Gold, Platinum, Diamond, and VIP accounts are also available and provide more features. Access to an account executive, a complete money management plan, a 1-on-1 education course, weekly managed sessions and daily market reviews are among the main benefits.

Summary

Coinrise offers a diversified infrastructure and that puts it in a favorable condition to attract a wide range of new customers. Those who already hold an account have been showing great appreciation, which means working with Coinrise seems to be a suitable choice. Each client can gain access to features depending on needs and expertise.

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Uncategorized https://www.elastika.org/blog/coinrise-becoming-financially-independent/ https://www.elastika.org/blog/coinrise-becoming-financially-independent/ Editor Wed, 11 Aug 2021 23:46:14 -0400
Five alternatives to bitcoin. Top 5 most rapidly growing cryptocurrencies

There are several explanations for why bitcoin has been constantly setting price records lately: if in February the price of the "coin" first exceeded $50,000, in March it already rose to $60,000, and the market capitalization of the world's most popular cryptocurrency exceeded a trillion dollars.

First of all, the rise in price is commonly associated with the consequences of the pandemic: developed countries have thrown out huge sums to support their citizens, which led to the depreciation of all world currencies. Against this background, cryptocurrency began to be perceived not only as a means of payment, but also as an instrument for investment. An example of such behavior was Elon Musk, whose company Tesla bought up cryptocurrencies for $1.5 billion, which a number of small investors perceived as a signal to action.

In addition, the scope of bitcoin itself has expanded. Visa (through its Crypto.com platform) and Mastercard began to work with it. PayPal allowed U.S. customers to use the cryptocurrency to pay. PayPal's announcement of its intention to purchase the cryptocurrency storage service alone triggered a jump in bitcoin's value of about 15%.

At the same time, no one is confident in predicting what will happen to bitcoin next. Some experts predict the growth in value of the cryptocurrency to $ 400 thousand, others believe the value of bitcoin inflated artificially, due to a confluence of factors that have provoked a feverish demand for it. Hence the fear: the rapid growth can be followed by a no less impressive collapse and panic rejection of the currency with appropriate consequences for its owners.

It is this fear that prompts potential cryptocurrency investors to diversify risks by using alternative cryptocurrency systems. However, this choice is not easy either: the variety of altcoins and very large fluctuations in their rates are poorly predictable. Too many factors influence the rate of certain cryptocurrencies, and none of them is backed by an influential structure, like a national bank, which could smooth out fluctuations. However, the very fact that currencies are highly capitalized creates a certain "safety cushion" in case demand drops. Therefore, when listing the main alternatives to bitcoin today, we first of all took into account those cryptocurrencies that had the highest capitalization rates according to Coindesk and Coinmarketcap websites.

1.   Ethereum (ETH)

Market capitalization: $404 billion

Exchange rate: ~$3500

The number two traditional cryptocurrency after bitcoin. Ethereum has been proving its attractiveness throughout 2020: it entered the last year at around $170 and by the end of December rose to $730, jumping 400%. And since January 1, the coin made an even bigger jump, increasing its value threefold in three months. Note that during a short period of depreciation of all cryptocurrencies in February, Ethereum showed the lowest level of decline - only 14%. In addition, the currency's popularity was helped by the development of decentralized financial services (DeFi), which provide the opportunity to obtain loans secured by cryptocurrency. It is reported that during 2020, the amount of pledged currency increased from $3 billion to $13 billion. The explosive influx of market participants and capital to DeFi helps strengthen Ethereum's position as the leading altcoin.

It should be noted that the benefits of using this cryptocurrency were also appreciated by political regimes unfriendly to the U.S., which saw in the blockchain a way to circumvent sanctions imposed on them. Project founder Vitalik Buterin, although he lives mostly in Canada, meets regularly with Russian leaders, in particular discussing the idea of creating a "cryptocurrency. He has also seen Vladimir Putin, who, in Buterin's own words, "awakened an interest" in blockchain. Buterin's partner in the Ethereum Foundation, Virgil Griffith, was arrested by U.S. law enforcement in 2019 for lecturing about cryptocurrency to specialists from North Korea. The trial of the programmer is to be held in September and it is definitively unclear whether the sentence will somehow affect the circulation of cryptocurrency or its rate. Of course, it is unlikely that the U.S. government is able to ban the circulation of cryptocurrency, but it can guarantee serious trouble for its creators. This truth was once so well explained to Pavel Durov that eventually the creator of Telegram abandoned the development of his own crypto-asset and returned the money invested in it to investors.

2.   Binance Coin (BNB)

Market capitalization: $82 billion

Exchange rate: ~$500

The currency of the cryptocurrency exchange Binance, which is used to pay trading commissions as well as in exchange offerings on the Binance Launchpad platform is seen as an alternative to both bitcoin and Ethereum. BNB's growth comes on the back of its growing popularity in the DeFi space on the Binance Smart Chain blockchain.

Analysts note the stable build-up of Binance Coin liquidity over time, with no rapid ups and downs, seeing in this the absence of artificial inflating the value or the impact of a frenzy of demand on the currency. April 12, the value of the token Binance Coin reached a historic high - $ 638 (although at the beginning of March the currency was sold for $ 250), and the gap in capitalization with its main competitor - Ethereum record shrinking.

3.   Stellar (XLM)

Market capitalization: $16 billion

Exchange rate ~ $0.7

XLM currency appeared in 2014 to support the activities of a network of financial products and services based on Stellar blockchain technology. The currency uses a protocol developed by Ripple Labs and is a so-called fork - a new currency created from existing code. Dozens of companies and financial institutions are now participating in it, and it has a user base of over 4.7 million people.

Also in early 2021, it was reported that the creators of Stellar signed a memorandum with the Ministry of Digital Transformation. The document provided for such areas of cooperation as the creation of a market of virtual assets in Ukraine and assistance in the creation of a digital currency of the National Bank. The Ministry of digitization suggested that Stellar Development Foundation will work in the country "as early as January", but since then there has been no news about the company's work in Ukraine. Perhaps it is waiting for a legislative solution to the unregulated issues in Ukraine related to the functioning of the cryptocurrency market.

In general, against the background of the rapid development of the Stellar network due to the growing popularity of this network and the conclusion of many partnership agreements with large companies, investing in XLM looks very promising. From November 2020 to the present time, this coin has grown by 700%, from $0.1 to $0.7 and, according to experts, has the potential for further growth.

4.   Tron (TRX)

Market capitalization: $8 billion

Exchange rate: ~ $0.12

Singapore-based Tron Foundation's own currency came into existence four years ago, at the same time the company held one of its largest initial coin offerings, raising $70 million between August 31 and September 2, 2017, and the currency itself rose 2400% from $0.002 to $0.05 per Tron by the end of December of that year.

Tron founder Justin Sun is not limited to blockchain projects, having a stake in Samsung, bike-sharing company oBike, Chinese search engine Baidu. Tron developers are attracting new users to the network by betting on the introduction of NFTs, or non-interchangeable tokens, which are now considered one of the most promising technologies in the virtual marketplace. These tokens are unique, non-divisible and cannot be changed without the owner's consent, making the technology used to prove ownership of a specific object to which it is attached. Such virtual certificates of ownership are now most common in art and online games, and Justin Sun himself set an example in the use of the technology when he purchased an NFT token tied to a painting of Ocean front from artist Beeple (real name Michael Winkelman) for $6 million.

Another major investment by the Tron Foundation was the purchase of the San Francisco-headquartered Internet company BitTorrent Inc., whose products are used by more than 170 million consumers every month, and the BitTorrent Inc. protocol brings in 40% of the world's daily Internet traffic.

5.   Ripple (XRP)

Market Capitalization: $53 Billion

Exchange Rate ~ $1.5

Lawsuits seem to be behind Ripple's payment system and it is actively catching up with the U.S. Securities and Exchange Commission (SEC) in a dispute. In December 2020, the SEC accused Ripple and its executives of raising more than $130,000,000 by selling unregistered securities under the guise of XRP coins. The cryptocurrency plummeted to $0.17 amid the proceedings, and Coinbase and several other U.S. cryptocurrency exchanges refused to work with it. However, after the SEC upheld the legitimacy of selling the tokens in March and exchanges returned to trading them, the rate rapidly went up and rose nearly tenfold in a few months.

Ripple is a digital payment and processing system created by U.S. technology company Ripple Labs. It aims to provide banks and payment systems with real-time and cost-effective tools for cross-border money transfers, potentially becoming an alternative to the SWIFT system. Accordingly, the XRP token is a cryptocurrency that exists only in the Ripple system. Unlike bitcoin, Ripple cannot be mined: there is a stable amount of 100 billion XRP in circulation. Also, while bitcoin and Ethereum were created to bypass the banking system, XRP, on the other hand, is positioned as an effective tool for financial institutions. More and more banks are increasing their investments in XRP along with other existing assets.

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Uncategorized https://www.elastika.org/blog/five-alternatives-to-bitcoin-top-5-most-rapidly-growing-cryptocurrencies/ https://www.elastika.org/blog/five-alternatives-to-bitcoin-top-5-most-rapidly-growing-cryptocurrencies/ Editor Wed, 19 May 2021 08:19:09 -0400
A Detailed Guide to Prime XBT Exchange Cryptocurrencies gain popularity every year, which means the demand for reputable trading platforms is always increasing. Some platforms are popular while others fail. PrimeXBT is a very popular cryptocurrency platform, which is well worth taking a look at in more detail.

PrimeXBT Overview

PrimeXBT Exchange, belonging to PrimeXBT Services, was set up in 2018 and is headquartered in Beau Vallon, Seychelles.

This centralized exchange has 0.05% maker and taker fees and supports Bitcoin, EOS Token, Litecoin, Ethereum and Ripple. The accepted PrimeBTX deposit methods are credit cards or cryptocurrency, and trading options are margin trading or spot trading.

What is PrimeXBT?

This online Bitcoin related exchange allows users to trade cryptocurrencies. PrimeXBT has grown rapidly since its launch and has members from over 150 countries.

This powerful platform is suited to beginners as well as midlevel traders, and offers a range of useful trader resources and features. The platform is available in English, Spanish, Chinese, Russian, Portuguese, and Korean.

Top Features of PrimeXBT

If you are looking for a leveraged cryptocurrency exchange offering straightforward fees, advanced technologies and sturdy security features, PrimeXBT is certainly worth considering.

Let’s take a look at some of the most popular features:

  1. PrimeXBT Leverage

Although advanced traders are always looking for leverage, a lot of trading platforms don’t offer much when it comes to cryptocurrency. The leverage offered by PrimeXBT is 1:100

  1. Asset Coverage

Using PrimeXBT means users can exchange many markets using Bitcoin for leverage. This includes cryptocurrencies, Forex, commodities and index.

  1. Security Features

The coins are mostly kept in cold storage, meaning they stay offline and away from internet access and hackers.

  1. PrimeXBT Fees

There are two kinds of fees used by PrimeXBT, which are trade fees and overnight fees. Both of these is fixed at 0.05%

  1. Customer Support

The platform offers 24/7 live chat, which is the fastest and easiest way to speak to somebody in customer support. There is also an email support option.

PrimeXBT Fees and Limits

The trade fee for cryptocurrency is 0.05% applied every time you use the platform to buy or sell. The overnight fee depends on the liquidity of the cryptocurrency you are using.

There is no deposit fee charged by PrimeXBT. The minimum Bitcoin network fee charged when you withdraw Bitcoin is calculated using the blockchain load, and this fee is set at 0.0005 BTC.

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Which Currencies Does PrimeXBT Support?

The currencies that PrimeXBT supports are as follows:

  • Bitcoin
  • Ethereum
  • EOS token
  • Ripple
  • Litecoin

Fiat deposit and withdrawal currencies are not supported on this platform, although you can use fiat or crypto trading pairs for permanent contracts.

How to Register as a Trader on PrimeXBT

  1. Go to the official website and click on the registration page
  2. Enter your email and choose a secure password
  3. Enter your phone number too if you wish
  4. Agree to the terms and conditions
  5. Click on Register
  6. Enter the 4-digit PIN which you will get by email to confirm your registration

 

How to Recover a Lost PrimeXBT Password

If you forget your password, you can use the password recovery feature. Simply enter your email and you will receive a link via email, with instructions on what to do to get a new password.

 

Covesting Module

Covesting allows traders to openly display their results to the public and compete with other traders.

This makes it possible for traders to monetize skills and get a second income, via collecting performance payments from followers. The more followers a trader has, they more cash they can get from successful trades.

Covesting allows PrimeXBT users to browse and copy the trading behavior of traders they follow, enabling them to potentially make the same returns.

How to Deposit on PrimeXBT

  1. Log into your PrimeXBT account and click on Deposit
  2. Choose from Direct BTC or Alternative
  3. Copy your personal wallet address and paste it into the field
  4. You can also use the QR code to paste this address

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How to Withdraw Funds from PrimeXBT?

    1. Log into your account and click on Withdraw
    2. Choose your withdrawal address or enter a new one
    3. Enter how much BTC you want to withdraw
    4. Click on Submit to Withdraw
    5. Check your email to confirm the withdrawal was successful

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PrimeXBT Pros and Cons

Pros

  • Competitive trading conditions
  • Competitive service fees
  • Credit card deposits available
  • Up to 1:100 leverage on crypto
  • Anonymous accounts allowed
  • Referral system

Cons

  • No service to traders from the USA or Canada
  • No demo account available
  • Not regulated
  • Only live chat or email support available

How to Purchase Cryptocurrencies on PrimeXBT

  1. Log into your account and click on Trade
  2. Choose the pair you want to trade and order size, using Chart
  3. Click on Buy (the green box) to open the New Order window

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  1. A box opens allowing you to enter the amount, order type and price
  2. Input the details then click Send Order

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  1. Check the position in the Positions tab underneath the chart to see the current status

How to Sell Cryptocurrencies on PrimeXBT

  1. Log into your PrimeXBT account
  2. Click on Trade
  3. Select the pair and size you want to trade in Chart
  4. Click Sell (the red box) to open the New Order window

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  1. A box will open asking you to input the amount, order type and price
  2. Confirm these details then click Send Order

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PrimeXBT Mobile App

There is a PrimeXBT mobile app available in both the Apple Store for iOS and the Google Play Store for Android. This app is easy to use and makes it possible to trade on the go. If you are using Android, note there is no PrimeXBT file; instead you need to download the app directly from the Google Play Store.

Review Conclusion

PrimeXBT is a worthy leveraged cryptocurrency exchange platform offering transparent and straightforward fees, sound technology and enhanced security features.

The trading platform is simple to learn and use and boasts great leverage, tight spreads and low commissions, ensuring it stands head and shoulders above the competition.

PrimeXBT Ratings

  • Ease of Registration: 4
  • Ease of Use: 4
  • Trading: 4.5
  • Fees and Limits: 4
  • Overall: 4

FAQs

How does PrimeXBT work?

This trading platform benefits from the commissions users are charged to make transactions and withdrawals. There are no fees on deposits but it costs 0.0005 BTC to withdraw Bitcoin.

How can I open a PrimeXBT account?

This is a quick and easy process. Simply click Register on the top right of the screen, enter your details and click Submit, then wait for confirmation by email and you can begin trading.

Do they offer leverage or margin trading?

Yes, PrimeXBT offers 1:1000 leverage on Forex majors and 1:100 leverage on every cryptocurrency, commodity and index.

Where is Prime XBT based?

They are based in the Seychelles.

Does Prime XBT use MetaTrader?

No, only the online trading platform is available to use.

Can I use PrimeXBT in the USA?

No, this trading platform is unavailable for use in the USA or Canada.

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Uncategorized https://www.elastika.org/blog/a-detailed-guide-to-prime-xbt-exchange/ https://www.elastika.org/blog/a-detailed-guide-to-prime-xbt-exchange/ Editor Thu, 03 Dec 2020 22:50:30 -0500
Are online purchases safe? Yes, as long as some precautions are taken. When making purchases over the internet, it is important to do so from secure https web pages where the padlock appears. One of the first things you should take care of in online transactions is that you must not provide your credit and debit card details along with CVV Code or CVC Code.

Electronic commerce: What is CVV?

Before we begin, indicate that this is perhaps the concept of the most names has. Almost every manufacturer uses a different name with an acronym. Let's look at all the examples we have seen:

CVV: The most common in all the cards. Card Verification Value.

CSC: Card Security Code, is the most common name in the USA. 

CVC: Card Verification Code

CVD: Card Verification Data

CVN: Card Verification Number

SPN: Signature Panel Code

V-Code: Verification Code

CVVC: The strangest and funniest of all: Card Verification Value Code.

But whatever the name is, it's always the same. A card issuer can use CVV, and at the same time a payment system speaks of CVC, but both refer to the same value. So deep down they are all the same.

There is a special one, which is the CID (Card Identification Code) that AMEX usually uses, or also sometimes called UCC (Unique Card Code), although it has little of its own. They are 4 digits that are printed in front of the AMEX cards. This, although AMEX uses it for the same purpose as CVV Code, it is not the same. The AMEX is also behind the CVV.

Another thing to note:

It is advisable to know the web pages from which these types of transactions are carried out. And above all, to trust them, but if that is not the case, it is best to look for reviews and opinions online about it before providing them with our data.

Another recommendation that experts usually make is to keep the cache clean. Deleting the data from our browser regularly will help nobody to falsify or duplicate the data with which we have operated online through the internet.

Normally we do not use CVV code in our day to day, but when we make purchases online it is very important to keep it in mind.

The CVV is the security code present on all credit and debit cards. This code serves to validate our purchases online and certify that the user has the card. They are usually 3 or 4 digits. And they can be on the front or back of the card.

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Uncategorized https://www.elastika.org/blog/are-online-purchases-safe/ https://www.elastika.org/blog/are-online-purchases-safe/ Editor Thu, 12 Nov 2020 01:02:20 -0500
Vertex Exchange Introduces Global Trading Platform to Help Crypto Communities Sell Tokens at All Time High Prices Hong Kong, October 20, 2020 - Vertex Exchange has announced that its global community-oriented trading platform will be officially launched on October 20, 2020.

Vertex Exchange aims to be the leading global trading platform that merges all altcoin communities from around the world to form one main crypto community trading with only one native token of its kind - the Vertex Token (VTX).

Vertex Exchange is built with a mission to merge and unite global altcoin crypto communities and allow users to monetize approved ERC20 tokens by swapping them to VTX at their respective ATH (All Time High) prices, then selling them via a unique trading system that seeks to ensure price stability and liquidity. Since all crypto tokens in various markets have one thing in common, that they are tradable as they have monetary value, the concept of Vertex Exchange was first mooted to allow crypto communities to work together by swapping tokens and performing trades on one unified platform.

The crypto market is well perceived to be highly volatile. It is not unusual that with every peak price of a crypto token, comes a huge down. To date, many token prices have slumped to a fraction of their peak prices. To help token holders recover their losses, Vertex Exchange’s unique trading mechanism will bring about a new breakthrough for all global crypto communities, allowing token owners to monetize at higher values. Functioning as an “automated market” with attractive platform rewards to incentivize users when they participate in daily tasks, Vertex Exchange’s distinct feature is to automatically create a sell order for VTX at a higher pre-determined price whenever a buy order is performed. As the number of tokens listed on Vertex Exchange increases, the value of VTX will also increase, resulting in higher demands and trading volumes.

Targeting to attract massive communities of established crypto tokens, the launch of Vertex Exchange will be one that is highly anticipated by global crypto enthusiasts. To enhance engagement with users, crypto communities will be able to participate as minters who can vote for their favourite ERC20 tokens to be listed on the Vertex Exchange. Through this platform, active traders may also be rewarded with a portion of transaction fees earned from every trade.

Interested parties may visit its official website:  https://vtx.exchange/ to sign up.

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Uncategorized https://www.elastika.org/blog/vertex-exchange-introduces-global-trading-platform-to-help-crypto-communities-sell-tokens-at-all-time-high-prices/ https://www.elastika.org/blog/vertex-exchange-introduces-global-trading-platform-to-help-crypto-communities-sell-tokens-at-all-time-high-prices/ Editor Mon, 26 Oct 2020 03:56:25 -0400
What Determines Cryptocurrency Price?

This is one of the most common questions asked by cryptocurrency enthusiasts. Decentralized cryptocurrencies resist censorship and they do have their value dictated by some specific factors. Before you use a platform like investous.com to make a crypto investment, it is vital that you understand what drives cryptocurrency price. The most important factors to analyze are the following.

Technology

The technology that was used to create the cryptocurrency is vital. If the technology is flawed, it is impossible for the crypto to gain real value.

Safety

Cryptocurrencies are digital in nature so coding bugs can exist. For instance, there was an Ethereum smart contract that had a huge flaw in the past. It was exploited, leading to $30 million being stolen by a hacker. This eventually led to ETH being split into 2 versions. One had the bug and the other did not.

Number Of Nodes

Node count is important because it indicates cryptocurrency value. This is a measurement of the number of active wallets that exist in a network. Such information is really easy to find online.

When you analyze node count you quickly understand the strength of the community behind the cryptocurrency. If there are more nodes present, you look at a stronger community. If the community is stronger, it can go over crises faster.

Rising Demand

When a cryptocurrency is being adopted by companies and becomes more popular, countries and governments react. As demand grows, more people learn about the cryptocurrency and start to consider buying.

As with anything in the financial market, demand and supply influence value. For instance, in the event that more people want to buy BTC, the price goes up. The opposite also applies.

Remember that cryptocurrency supply is limited. This is why increased popularity always leads to prices going up. However, when there is a scandal that affects a coin, demand goes down. This leads to prices going down.

Mass Adoption

Whenever the currency gains adoption, value goes up. This happens because of the limited nature of cryptocurrencies. A demand increase leads to price increase. As the cryptocurrency can be used in a real-world scenario, people learn about it and more will buy.

Regulations

When a government wants to regulate a cryptocurrency, it means that the digital asset reached a mainstream status. While regulations can lead to an unwanted situation in which cryptocurrencies are centralized, they do have a huge impact on price.

Critics claim that transactions are going to be controlled and reduced due to regulations. However, if regulations are in place, the value of a cryptocurrency does go up.

Conclusions

The factors mentioned above have a clear impact on cryptocurrency value. Usually, they do have an effect at the same time. This can easily lead to values changing really fast. Cryptocurrencies are volatile and price corrections can always appear. Due to this, you need to be really careful when you invest in cryptocurrencies. Only invest the money that you can afford to lose. Do not take out loans or buy cryptocurrencies with funds that can negatively impact your financial well-being.

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Uncategorized https://www.elastika.org/blog/what-determines-cryptocurrency-price/ https://www.elastika.org/blog/what-determines-cryptocurrency-price/ Editor Fri, 22 Nov 2019 06:58:54 -0500
Which ICOs Should You Watch as 2019 Comes to a Close? Although the ICO industry is not at the levels seen in 2017-2018, blockchain-based startups continue to come with innovative ideas to disrupt various industries. With an unlimited number of potential applications, this means there could be value in some projects, which is why we want to talk about a few interesting projects that will take place in the not too distant future.

This material should not be regarded as a certainty and each individual should do his own research before deciding to invest in any ICO project. Without further due, let’s some the project which may have the potential to become top crypto currencies.

Scopuly (SCOP)

Developed by a company based in Switzerland, is an interesting project based on the Stellar platform. This is an IEO that will take place between November 1st – November 15th, 2019, and will have the SCOP token at its core. Based on the information available at the time of writing, the Scopuly platform will be designed to perform several important tasks.

Using it, people will be able to store, receive/send, trade different types of crypto assets in a decentralized manner, make fiat withdrawals, and analyze the most important data stored in the Stellar blockchain.

The Stellar platform had been chosen for this project due to its ability to perform fast, reliable, and low-cost transactions for a large number of users. They will be able to store and instantly transfer crypto-related assets, issue their own crypto currencies, launch IEO campaigns, invest in other IEOs and trade crypto assets on a decentralized SDEX exchange in real-time.

With the software solution provided by Scopuly, people can store, spend, pay and exchange crypto assets in a convenient and safe way. The company wants to sell 4 billion SCOP tokens, which represents 40% of the total supply. According to the information available on icomarks.com,  XLM, ETH, BTC, USD, EUR, and RUB payments will be accepted during the IEO. The current IEO price of the SCOP token is 0.7 XLM and a bonus structure of up to 10% had been set in place.

Diagon (DGN)

Diagon is an ICO project put in place by a Cyprus-based company that wants to disrupt the eSports ecosystem. Based on the Ethereum blockchain and with an ERC-20 compliant token, the company wants to offer a new way investors can generate returns for eSports.

This is an upcoming decentralized ecosystem that will enable people from all around the world to test their capabilities and participate in 1v1 or group vs. group matches for prominent online games like League of Legends, Dota 2, Destiny 2, Fortnite, and others.

The Diagon Coin (DGN) will be the one powering the blockchain and with it, investors will be able to perform various transactions like gaming, trading, as well as making virtual and real purchases.

Based on the information available on diagon.io, the total token supply is 200 million DGN and the company wants to sell 150 million during the ICO. The price of one DGN coin had been set at $0.2 and the public sale will start on November 12th, ending on February 24th, 2020. The soft cap is $2 million and the project gest relatively high marks on all the major ICO platforms. If you are a huge gaming fan, this could be an opportunity to get involved in a project that resonates with what you’re doing in your spare time.

SMSCHAIN (SMSTO)

Although the time frame when this project will take place had not been provided yet, SMSCHAIN is another ICO coming with a very interesting idea. The project wants to design and create a reliable interconnected framework between Telecom companies,             on one hand, which will deliver A2P (Application-to-Person) SMS through users wanting to exchange unused SMS for financial rewards.

The project is developed by a company based in Russia and will run on the Ethereum platform. The token SMSTO will be powering the network and based on the latest information, 1000 SMSTO will be valued at 2.8 ETH during the pre-sale, and 2.6-3.33 ETH during the ICO. The soft cap is 37000 ETH and the hard cap 175609.

70% of the total supply (100 million SMSTO) will be available for sale, but at the time of writing, the company did not provide exactly when the fundraising will take place. The SMSCHAIN project has decent rating on industry websites, especially when it comes to team proof.

This is a company that wants to operate in the A2P industry, which is estimated to reach $70 billion in revenue by 2020. Whether or not SMSCHAIN will manage to deliver on its promises is still unknown, but the team behind the project managed to nail a niche with high potential for growth.

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Uncategorized https://www.elastika.org/blog/which-icos-should-you-watch-as-2019-comes-to-a-close/ https://www.elastika.org/blog/which-icos-should-you-watch-as-2019-comes-to-a-close/ Editor Wed, 16 Oct 2019 01:04:58 -0400
Can the MeterQubes ICO Innovate the Decentralized Trading World? Although the industry did not manage to perform as it did in 2017-2018, ICOs had managed to raise substantial funding during the first half of 2019. The latest statistics show that around $2 billion had been raised by blockchain-based startups, as investors felt more confident once most of the cryptocurrencies recovered this year.

As long as the market sentiment will not deteriorate meaningfully, new companies wanting to raise funding via ICOs might benefit during the second half of the year. Activity in the crypto space continues to be diverse. People are willing to trade with Atecs Capital and other trading platforms, invest in crypto-related futures, and explore the benefit of using derivatives into this market.

MeterQubes ICO pending in the fall

After an encouraging first half of the year, activity in the ICO industry could bring new innovative blockchain ideas. It may be the case with the MeterQubes ICO which is due on September 8th.

Conducted on Coinsbit, the project aims for a $4 million soft cap and an $8.75 hard cap. Based in The Netherlands, it is an ERC-20 compliant project, wanting to develop an improved trading solution in the form of an AI-powered decentralized exchange.

MeterQubes want to further promote the idea of algorithmic trading into the crypto sphere, as more institutional investments are pouring into the industry. Designed for both beginners and active traders, it will be a peer-to-peer decentralized trading platform optimized with Artificial Intelligence and Machine Learning.

Predictive algorithms, trading bots, algorithmic trading, sentiment analysis scores, graphs and plenty of other features will be integrated into the MeterQubes exchange. Token-to-token swaps will also be possible thanks to minimal slippage rates and a highly liquid order book.

It will be interesting to watch whether the company will manage to raise the funding required to get the project going. This is another project from the financial sector, where competition is fierce. We should acknowledge that integrating AI and Machine Learning into the trading process may be helpful, but MeterQubes must get to the level of other already-popular exchange platforms.

At the time of writing, the MeterQubes ICO enjoys high feedback, with industry websites like icomarks.com and trackico.io offering impressive ratings. The fact that the fundraising process will take place on an exchange may be another strong point, as it will get broader exposure to people interested to invest in projects like this one.

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Uncategorized https://www.elastika.org/blog/can-the-meterqubes-ico-innovate-the-decentralized-trading-world/ https://www.elastika.org/blog/can-the-meterqubes-ico-innovate-the-decentralized-trading-world/ Editor Tue, 27 Aug 2019 06:26:08 -0400
Crypto Options – An Alternative To Regular Crypto Trading

Crypto enthusiasts are now really happy because of the launch of Bitcoin options and futures. However, many are still not familiar with fundamentals associated with crypto options.

Bitcoin options are highly advantageous for many since they allow them to take advantage of a market that is highly volatile. This is possible through risk hedging.

If you want to dabble in the world of crypto options, first you need to learn what they are and then start trading.

Understanding Cryptocurrency Options

When looking at traditional financing, 2 option types exist and can be bought. These are “put” and “call”. The call crypto option offers you the possibility to buy a crypto asset at a strike price. The put option offers holders the possibility to sell assets at predetermined prices.

Options stand out as one of the really important tools available on the market at the moment in the traditional market. It is often used by the traders for speculation purposes. Using the option contract for trading can exceed underlying asset volumes, like in stocks. There are also numerous options that are utilized in order to hedge the risks for the participants that have a really large investment budget.

The crypto market quickly adopted the possibility of using options. However, the demand for crypto options is lower right now, especially when compared with stocks. This is mainly due to the BTC/USD trading volumes that can easily decline.

To put it as simple as possible, crypto options are contracts or financial instruments that offer you the right to sell or buy a specific cryptocurrency for a price that is predetermined, all at a future given date. Cryptocurrency options can so easily intimate the new market participants due to the use of terminology that is idiosyncratic. It is simply different from the legacy options market and the terminology that is used there, even if it is already quite complicated.

When referring to cryptocurrency, the “upside profits” options contract is very similar to the call option in Europe, a right to buy. The “downside profits” options contract is just like the put option, a right to sell.

Where Can Crypto Options Be Traded?

Crypto options are normally designated between cash-settled and bitcoin-settled markets. The most popular market at the moment is Bitmex but Okcoin and Okex are very popular alternatives.

When referring to the cash-settled crypto options, CME (Chicago Mercantile Exchange) enjoys a very high popularity. Its alternative is the CBOE (Chicago Board Options Exchange).

On the whole, there are countless crypto option opportunities that are being developed and that will be available soon for interested investors. Usually, working with someone that has experience in the industry is what counts since the crypto market is highly volatile. Options can easily go up and down much faster than initially expected.

Final Thoughts

In the future, traders will be faced with a growing crypto market capitalization and various derivatives that are going to be developed. This does include cryptocurrency options. Traders will have much more power to sell and buy bitcoin in the way they want.

The last thing that needs to be said is that it is really important to choose a really good platform in the event that you want to invest in crypto options. There are always advantages and disadvantages of trading and you need to be aware of both.

Take as much time as you need to understand everything associated with crypto options and crypto trading in general. The possibility of making a lot of money in a short period of time draws many to cryptocurrency deals but this is a recipe for disaster if you do not know what you are doing.

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Uncategorized https://www.elastika.org/blog/crypto-options-ndash-an-alternative-to-regular-crypto-trading/ https://www.elastika.org/blog/crypto-options-ndash-an-alternative-to-regular-crypto-trading/ Editor Tue, 06 Aug 2019 15:26:59 -0400