Tag: Crypto exchange

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Crypto Guides

What should we know about DEXs & its benefits?

Introduction A decentralized exchange or DEX is referred to as a platform that eliminates the middlemen and allows traders to trade with each other directly. This direct approach allows traders to control their funds instead of giving them to exchange providers where trades are performed via smart contracts. These exchanges are hosted on a collected […]

Introduction A decentralized exchange or DEX is referred to as a platform that eliminates the middlemen and allows traders to trade with each other directly. This direct approach allows traders to control their funds instead of giving them to exchange providers where trades are performed via smart contracts. These exchanges are hosted on a collected […]

Introduction

A decentralized exchange or DEX is referred to as a platform that eliminates the middlemen and allows traders to trade with each other directly. This direct approach allows traders to control their funds instead of giving them to exchange providers where trades are performed via smart contracts.

These exchanges are hosted on a collected ecosystem of distributed nodes. This not only reduces the hacking risk but also addresses the problem of downtime that limits the trading ability. These exchanges are designed to extend an open, transparent network that makes crypto trading accessible to all.

What Makes DEX Different from Centralized Exchanges?

A Centralized exchange is also an online platform where people can buy and sell digital currency, but they use a third-party to authenticate and execute the transactions. This needs the buyers and sellers to entrust their funds to exchanges and allow them to safely complete the transactions.

These exchanges are known to be easy to use and enable traders to buy digital currencies with cryptocurrencies or fiat. They offer a streamlined entry point to the market and cover the majority of cryptocurrency trading.

Benefits of DEX

Following are the reasons we should think about trading in decentralized exchanges:

Control

In centralized exchanges, traders do not tend to have full control over their funds, limiting the trading potentials. Recently, the event known as Proof of Keys was run by centralized exchanges to ensure that exchanges could generate more profits on deposits, the same way a bank works.

This limited the users’ rights to withdraw all their funds in a single day.  The open nature of DEXs implies that our money remains in our control. Users get to withdraw their amount whenever they intend to.

Security

Centralized exchanges collect a massive amount of money from investors. This makes these exchanges the prime target of cybercriminals. Bitstamp and popular exchange based on Slovenia was hacked in 2015.

The hackers got access to the hot wallet and stole 19,000 Bitcoins, which was worth $5 million. And with the increasing number of trading in cryptocurrencies, centralized exchanges are becoming more vulnerable to hackers. Decentralized exchanges offer more security and, over the years, have become more common choices for crypto trading.

Privacy

Centralized exchanges are categorized as MSPs or Money Service Providers. This implies that users have to undergo certain anti-money laundering (AML) and Know-your-customer (KYC) processes. But people are often resistant to providing their personal information to third parties. This is because they end up having no control over what will happen to the data.

Decentralized exchanges, on the other hand, are not controlled by a central authority. Therefore, we do not need to register other than having a valid wallet address. Decentralized exchanges still remain a rather new concept in this ecosystem. But traders are rapidly comprehending its advantages over centralized exchanges.

Bottom line

Many new DEXs are coming in the market with better features, security options, and ease of use. When assessing these platforms, ensure to consider important factors such as security features, trading volume, currencies available, transaction fees, sign-up process, etc.

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Crypto Guides

Perpetual Swaps for Bitcoin – Explained!

Introduction

Introduction

Introduction

Perpetual Swaps, also referred to as perpetual contracts, are essentially a very popular type of futures contract. These contracts are largely dominated by the BitMEX exchange. The XBT/USD has seen to be one of the most popular products offered by them. Bitcoin derivatives, particularly perpetual contracts on BitMEX, were surging of popularity in 2009, in every Bitcoin derivative platform where all of them had record high volumes.

According to sources, BitMEX has a volume of around $2 billion consistently for 24-hour for Bitcoin futures. One of the reasons for this overwhelming volume can be accounted for its high leverage that is provided. For example, BitMEX facilitates 100x leverage on perpetual contracts. So, traders can open positions worth 100 BTC in the futures market with just 1 BTC as margin.

 

Understanding Futures Contracts on Bitcoin

Perpetual swaps can be considered as a futures contract for Bitcoin where a futures contract is simply an agreement between two parties to buy/sell a security at a particular price and date in the future. The buyer of the futures contract is then required to buy the underlying asset once the contract comes to expiry, and the seller is obligated to deliver those assets to the buyer at the time of expiry.

Futures are said to be a type of derivatives because they are derived from the underlying value of the asset. But perpetual contracts are quite different though they are a form of futures contracts. They are also referred to as “inverse futures contracts.” It is nothing but a standard futures contract, where cash-settlement of the underlying asset can be done without physical delivery.

The reason they are referred to as inverse futures contracts for Bitcoin because the settlement for BTC/USD is accomplished in BTC instead of USD that happens in all other futures markets. As a result, the US dollar is interpreted as a commodity, while BTC is used for the settlement of the contract.

The Benefits of Trading Perpetual Swaps

Well, there got to be some reasons for the skyrocketing volume that is seen in the volume of Bitcoin futures contracts. So, let’s discuss them out.

1️⃣ The uniqueness of the inverse futures contract is that it enables us to trade cryptocurrencies against fiat currencies without really having any exposure to the fiat currency. This type of facility can cut through the regulatory complications involving deposits into the exchange using fiat currencies.

2️⃣ Practically hedging positions in USD by shorting positions is another great exclusive feature in an inverse futures contract for Bitcoin.

3️⃣ As mentioned, every future comes to an expiry. However, the inverse futures contract created by BitMEX does not expire and levy a funding rate at three predetermined times every single day using the negative funding mechanism. The funding payment (size of the position plus the funding rate) is provoked every 8 hours at these specific times: 4:00 UTC, 12:00 UTC, 20:00 UTC.

Conclusion

With the great features offered by the inverse futures contract for Bitcoin, the possibility of institutional money coming into the cryptocurrency market seems to be pretty high, which could hence expand and mature the existing futures market. Also, the no expiration of Bitcoin futures is another for this market to stay tight in the coming years as well.

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Crypto Guides

What Problems Do Stable (cryptocurrency) Coins Solve?

Introduction

Introduction

Introduction

We have learnt a lot about cryptocurrencies and their properties in our previous guides. Even though this financial instrument has gone through a lot of up & down in the last three years of the past decade, many financial experts believe that this asset class can still be considered a potential investment. Some experienced crypto traders believe that Bitcoin, at its peak (~$18,000 in Dec 2017), is still undervalued. This is because of the strong fundaments Bitcoin possesses. Not just Bitcoin, the entire crypto market has enormous investment potential in this decade.

The Need for Stable Coins

But there is one thing that concerns both short-term and long-term crypto investors – which is undoubtfully the volatility. Most of the cryptos currently present in the market possess huge volatility. This is one crucial reason why most of the investors are not confident enough to invest in this space. This volatility is also the reason why cryptos cannot be used as a standard medium of exchange. Hence the need for a Stable Currency or Stable Coin has risen.

A Stable Coin is a currency that has all the critical properties of typical crypto while achieving price stability. This stability in price is achieved by pegging their value to the major fiat currencies like USD & Euro in a 1:1 ratio. One of the very first and famous stable coins is Tether, and its value is pegged to USD. So the value of one Tether (₮) is always equal to one US Dollar ($). The main goal of any stable coin is to achieve maximum decentralization while maintaining price stability. But in the case of Tether, even though it has most of the properties of crypto, it is highly scrutinized ever since it is pegged with the USD.

Significance of Stable Currency

Stable Currency, as the name suggests, provides both short-term & long-term stability for the traders and investors. Short-term stability allows users to make day to day transactions just like fiat currencies. While the long-term stability provides confidence for the investors to include these stable coins in their portfolio. For instance, in the case of extreme bear markets, crypto traders and investors must need some stable storage where they can protect their portfolio from significant losses. The only other way is to convert all these cryptos to desired fiat currencies and convert back to crypto again once the downtrend is over. This sounds redundant. Isn’t it?

But with the help of stable coins in their portfolio, investors can just trade the cryptos that are bleeding for stable coins and hold them without having to worry about the volatility. Apart from the investment point of view, stable coins can also help short-term crypto traders to confidently keep their profits that they have gained within the exchange wallets (in the form of stable coins). But in the absence of stable coins, they will have to continuously worry about them losing their profit value due to the high volatility.

If you are interested in adding stable coins to your portfolio, we have mentioned some of the most promising ones below.

Tether | MakerDAO | True USD | Carbon

Many stable currency projects like these have come to existence after Tether, and some of them showed promising results. However, a completely decentralized stable coin that can be used for day-to-day transactions securely is yet to come.

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Crypto Videos

Crypto Exchanges VS Crypto Brokerages Part 2 – Are You Getting The Best Deal?

https://youtu.be/b7e8dz6eDgk

https://youtu.be/b7e8dz6eDgk

 

Crypto exchanges VS. Crypto brokerages – part 2/2

 

Trading Exchanges

Trading on a crypto exchange is quite straightforward. All you need to do is select the desired trading instrument and then open your trade. As the chart unveils, you will watch your position. You can place buy as well as sell orders. Most exchanges try to offer some form of different orders, such as limit orders.
One of the advantages that exchanges have over brokerages is that you can pick among a lot of different cryptocurrencies to trade.


Brokers

Brokerage platforms will usually have more analysis tools that will benefit traders to achieve their goals. Most of them have advanced analysis tools, as well as several variations of orders. However, the brokerage platforms will not offer you as many cryptos to trade as an exchange. Brokers have different cryptocurrency pairs available, but they mostly offer only the most popular cryptos.

Brokers also tend to have quite tight spreads, unlike some of the less liquid exchanges. This feature prevents slippage from happening.
Another great advantage is that the brokerage platforms have many more features to offer in general. Unlike most exchanges, brokerages offer the option to put multiple charts in your view-window, track the quote flow, use sets of indicators, etc. Some brokerages even offer the option to create automatic trading strategies without any previous knowledge of coding.


Safety & Security Exchanges
Crypto exchanges can be divided into two:
Centralized exchanges! Decentralized exchanges!
Centralized exchanges are considered relatively unsafe. You can create a very strong password as well as enable 2-factor authentication. However, this does not guarantee 100% safety of funds. The main thing is that the account owner is not the owner of the keys that hold the funds. As the exchange holds all these keys, hackers only need to hack one account – the exchanges, rather than each account individually. Many exchanges got hacked, and most of these funds never got back in the hands of the original owners. While exchanges are increasing their security levels as well as introducing forms of insurance, this is far from what brokers have.
Decentralized exchanges are considered the safest way to trade cryptocurrencies, as you hold your own wallet keys. However, these exchanges are not yet big enough to have good liquidity, which creates large spreads and slippage.


Brokers

Trading cryptocurrencies with a regulated broker will guarantee some degree of safety to the clients. First of all, most brokers are regulated with a reliable authority, such as CySEC, FCA, SEC, etc. If a broker is regulated, its business is strictly audited. Regulated brokers are also members of investor compensation schemes, which ensures claims of clients and against brokerages that are unable to meet obligations due to financial downfall or bankruptcy.
However, one thing to note is that almost no brokers trade with real cryptocurrencies, but rather with derivates. While this is not necessarily bad, traders should know that using brokers will often result in trading with contracts that derive their value from cryptocurrencies, rather than with cryptos.

Conclusion

In conclusion, while cryptocurrency trading is considered high risk and due to their volatility, people can choose safer ways to ensure that their funds are always in the right hands. Exchanges and brokers have their advantages and disadvantages, and traders should pick very carefully based on their goals while trading.

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Crypto Videos

Crypto Exchanges VS Crypto Brokerages Part 1 – Are You Getting The Best Deal?

https://youtu.be/mic-T4wSX4c

https://youtu.be/mic-T4wSX4c

 

Crypto exchanges VS. Crypto brokerages – part 1/2

There are two ways that people can trade cryptocurrencies:Over an exchange Or With a broker.

This article will touch upon the basic things a trader has to do when trading cryptos over an exchange, as well as by using an online broker.
Extreme volatility and virtually unlimited profit potential that the crypto market brings got people going crazy about it. As a result, a lot of products and services appeared in the market. Trading via a broker or via an exchange has some differences, and they are not completely clear to the general public.


Signing up/Verification

Exchanges
The process of signing up to a crypto exchange is (in most cases) is as simple as registering on their website. Users are required to provide their email, create a password, and confirm the email address. Some exchanges might require a KYC verification, where you would be required to submit a valid ID as well as a proof of residence. The exchanges usually respond to verification requests within a day. There are, however, some cases where you don’t have to get verified once signed up.

Brokers
Signing up with a broker is, just like with exchanges, not a very difficult thing. In fact, the signup process is almost the same as on a regular exchange. On the other hand, in order to deposit funds and start trading, you will need to verify your account. As a rule, you will have to submit scan copies of either one or two documents: A valid ID or Proof of address.
The verification process is done much slower than on exchanges, as the average time of the verification is 15-days.


Deposits and Withdrawals

Exchanges
Depositing fiat to crypto exchanges can often be a hassle. Most exchanges do not accept fiat-to-crypto purchases. While there are many ways to buy cryptocurrencies out there, these transactions often have high fees and commissions.
On the other hand, withdrawing funds from exchanges can go two ways. If you want to withdraw your cryptocurrencies to a non-exchange wallet, this can be done easily and cheaply. However, withdrawing cryptocurrencies to a fiat currency account can be quite a hassle. Withdrawing cryptocurrencies to a bank account can be an issue as quite a lot of banks don’t accept money from crypto exchanges. The reason for this is that they can’t determine the origin of such money and transactions.

Brokers
Unlike cryptocurrency exchanges, depositing with a broker is much easier. A broker’s client offers a large number of ways to make a deposit. This includes credit cards, e-wallets, bank accounts, etc. You can deposit US dollars, euros, and often times, some other currencies. The ease of depositing simplifies the whole process quite a bit. On top of that, there are no deposit fees whatsoever on almost all brokerages.
As for withdrawals, broker terms are often more attractive than the terms that a cryptocurrency exchange has. While many exchanges pride themselves with low trading fees, they earn money on high withdrawal fees. However, brokers usually charge a fee of between 0% and 3%. This number can vary depending on the withdrawal method.

Check out our part 2 of Crypto exchanges VS. Crypto brokerages to find out more about the differences between the two in terms of trading as well as safety protocols.

 

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Crypto Videos

Bittrex Exchange In Depth Review Part 2

https://youtu.be/tS341fqp2Mg

https://youtu.be/tS341fqp2Mg

 

Bittrex exchange in-depth review – part 2/2

This part of the Bittrex exchange in-depth review will explain how the platform operates, the fees as well as the overall security of the platform.

Bittrex Chart view


Different exchanges often have their proprietary charts. However, all the user interfaces usually have a few things in common: they all show the order book, the price chart of the chosen asset as well as the order history. They also have buy and sell boxes. Before choosing an exchange, try to look at the user interface and determine if it will suit you.

Bittrex Fees

Bittrex has two types of fees! Trading fees and Withdrawal fees.

Trading fees
Bittrex is one of the exchanges that doesn’t charge different fees for market takers and makers. This type of fee structure is usually called “flat fees.” Bittrex offers its customer base a flat trading fee of 0.25%. Investors who prefer to take the orders from the market rather than set the orders themselves might prefer this fee model. The fees, however, do scale with trading size. The fees are divided between market taker fees and maker fees once the trading volume exceeds $200,000.

Bittrex’s flat fees the same as the majority of the industry that uses flat fees. However, more and more exchanges are now shifting to lower trading fees, ranging between 0.10%-0.15%. It is quite reasonable to believe that the 0.10% fee will be the new industry average.

Withdrawal fees

While many exchanges have competitive trading fees, they often have extremely high withdrawal fees to compensate. Bittrex does not do that. This exchange’s withdrawal fee is set at 0.0005 BTC when withdrawing BTC. This is either in line with or lower than the global industry average.

Deposit Methods

Bittrex, along with Poloniex, has been criticized for not providing fiat currency support to its customers. If you have money in a bank account and would like to start trading crypto, Bittrex is not a suitable exchange. However, this rule is not quite as strict and has an exception. If you want to deposit a sum of over $100,000, you could do that on Bittrex. The exchange decided to allow corporate clients to deposit fiat currency on 31 May 2018. When the news of partnering with the New York Signature Bank news broke out, Bittrex also announced that they would soon enable fiat currency deposits for all traders as well.

Bittrex Security

 

As exchanges store a massive amount of valuable personal info as well as assets, they need to have stellar security. The info they store can be anything, including names and addresses, government ID details, tax ID numbers, etc.
Bittrex’s hit a security score of B when performing a security test at Observatory by Mozilla. This is considered a very strong security score. When crypto exchanges go, it is far above average.

Bittrex also seems to be very committed to providing strong security to its customer base. They are stating that they “incorporate multiple layers of protection, using the most reliable and effective security technologies available.”
The exchange has a 99.95% uptime rate, which is quite an amazing proof of the trading engine reliability.

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Crypto Videos

Bittrex Exchange In Depth Review Part 1

https://youtu.be/oH6mewieDSM

https://youtu.be/oH6mewieDSM

 

Bittrex exchange in-depth review – part 1/2

This part of the in-depth review of the Bittrex exchange will touch on the basics of the platform, its team as well as the liquidity of the exchange itself. This is the first of 2 parts of the Bittrex in-depth review.

General Info

Bittrex is an exchange founded in Seattle, Washington, USA. The exchange started off its operations in February of 2014. Back when the company was founded, there were a lot fewer exchanges, so the exchange became extremely popular as the industry was not as crowded.
Bittrex is still considered a popular exchange, though its popularity dropped over time. The Bittrex team considers this exchange to be a global leader in the crypto revolution. They market their exchange as a platform designed for people who require extremely fast trade executions, secure digital wallets as well as leading industry practices.

Bittrex doesn’t just have its platform, but also a “Blockchain Incubator.” To promote global innovation in the industry, Bittrex works with various teams so they could help new tokens with potentially great use-cases to transform the industry they are targeting.
Bittrex is one of the most popular exchanges that originate from the USA. As they are operating from the USA, they permit US investors to join the platform (Unlike BitMEX, which does not allow US investors on their platform).

Team

The main people who stand behind the Bittrex exchange are Bill Shihara (the company Co-Founder and CEO), Richie Lai (which is also Co-Founder as well as the CIO – Chief Information Office) and Rami Kawach (CTO). These three individuals come from a background of cybersecurity. They have previously worked at many well-established companies in the tech-sector (such as Blackberry & Amazon).

The Bittrex Trading Engine

Bittrex notified its user base of an update to its platform’s trading engine on 25 February 2019. The update then got carried out on 27 February 2019. The purpose of this major update was to make the platform much faster, scalable as well as to pave the way for “additional, exciting upgrades and features” later on. Since the update, the order book updates faster, while overall order execution is much smoother. In fact, the orders process speed is more than 20 times faster than before the platform update happened.

Liquidity

Bittrex’s liquidity is considered decent. However, there is quite a distance to cover if the exchange wants to catch up with the top 10 exchanges in terms of liquidity. Bittrex reported its 24-hour trading volume at approximately $13 million in February 2019. On 11 June 2019, the report showed Bittrex’s 24-hour trading volume increasing almost five times, coming at $55 million. However, the past months have shown us that Bittrex’s volume reduced overall.
Check out part 2 of our Bittrex in-depth guide to learn more about the platform itself, its fees and deposit methods, as well as the security of the exchange.

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Crypto Exchanges

Bittrex Crypto Exchange Review 2020: Is The Exchange Legit Or Another Scam?

Bittrex has time and again been ranked among leading crypto exchange platforms across the world. And some of the factors that keep it ahead of competition include the fact that it embraces advanced technologies in guaranteeing system security as well as the wide range of cryptocurrencies one can trade on this platform. We attribute these to the fact that Bittrex is one of the few exchanges that haven’t lost its client assets to crypto hackers.

Bittrex has time and again been ranked among leading crypto exchange platforms across the world. And some of the factors that keep it ahead of competition include the fact that it embraces advanced technologies in guaranteeing system security as well as the wide range of cryptocurrencies one can trade on this platform. We attribute these to the fact that Bittrex is one of the few exchanges that haven’t lost its client assets to crypto hackers.

Bittrex has time and again been ranked among leading crypto exchange platforms across the world. And some of the factors that keep it ahead of competition include the fact that it embraces advanced technologies in guaranteeing system security as well as the wide range of cryptocurrencies one can trade on this platform. We attribute these to the fact that Bittrex is one of the few exchanges that haven’t lost its client assets to crypto hackers.

They offer three different types of accounts with the highest level (Enhanced account), giving total freedom to the trader. Several other perks come with trading in Bittrex exchange. But how safe are your crypto transactions on this platform? Is the platform even reliable?

With so many options available and stringent regulations that vary from state to state, it is essential to understand the exchange before investing your money. Below is a brief overview of the Bittrex crypto exchange platform, including its features, signup, accounts, pros, fees, and customer support, among others.

What is Bittrex?

Bittrex is one of the oldest exchange platforms founded back in 2014 by former Microsoft employees Richie Lai, Bill Shihara, and Rami Kawach. The exchange is headquartered in Seattle, Washington, but its reach extends well beyond the United States. Ideally, virtually anyone across the world can create a free trader or investor account with Bitmex exchange.

Both traders and investors on the platform are, however, advised to check their local regulations before they begin trading with any crypto exchange platform. Bittrex offers a familiar proposition for experienced traders. They provide various cryptocurrencies you can trade and also supports fiat currencies.

Their custom trading engine seamlessly combines various automated trading features such as GTC (good till canceled), stop loss, and instant sell or buy, among others. The interface also loads very first and is more beginner-friendly than most platforms. You will never experience any lags with this platform.

It, however, does not support margin trading. As such, Bittrex suits the traditional crypto trader looking for a wide variety of cryptos and standard spot trading orders. And you will like it here because the exchange supports over 234 different cryptocoins and doesn’t charge deposit fees.

How does Bittrex work?

Bittrex works like a classic cryptocurrency exchange, so those who have experience trading cryptos will find it quite familiar. The platform presents the trader with both standard technical and charting tools traders needed to manage their accounts. Once you have an account, you can deposit funds and begin trading.  Keeping in mind that the platform supports three types of accounts: unverified, basic, and enhanced.

Unverified accounts

These have various limitations, including a lower cap on the maximum withdrawal you can make (1 Bitcoin per day). When you sign up for Bittrex, you automatically create an unverified account. You will require the 2-factor verification to upgrade to the basic account. However, there are various tools you can use to help you learn more about the platform. Unverified accounts are most appealing to beginners looking to expand their crypto trading skills

Basic accounts

This option offers more tools and access with the possibility to withdraw up to 3 Bitcoin per day. You can upgrade to the basic account once you complete the 2FA verification process. The platform uses a strict verification process and collects more information about their clients. However, this ensures they provide trustworthy coins and keep the exchange secure.

Enhanced account

This is the premium option for prolific crypto exchange traders looking for total freedom. With enhanced accounts, you can withdraw up to 100 Bitcoin per day. In addition to the two-factor verification, enhanced accounts require you to provide a photo of your government-issued ID and a selfie portrait.

Once you have an account, trading is effortless with Bittrex. The platform is known for its sleek user-friendly features and fast-loading interfaces. You can easily access your dashboard, make trades, track your orders, and contact customer support.

Bittrex account registration

Registering for an account with Bittrex is an effortless and straightforward process. All you need is a valid email address and proof that you are 18 years or older. As aforementioned, you can sign up for any of the three account options available depending on your unique requirements. If you seek a robust platform with all the necessary trading tools and features, the enhanced account is more suitable. Conditions are also different for each account.

Unverified accounts are entry-level with minimum requirements. They also have limitations, since the platform has not verified user identity. You will need to complete the two-factor verification and provide your ID and portrait, among other necessary info to get full access to the exchange. As a global service headquartered in Washington, Bittrex allows registrations from anywhere in the world, provided you meet the minimum requirements.

Number of cryptocurrencies supported on Bittrex

As one of the older exchange platforms, Bittrex was initially designed to support Bitcoin. However, the exchange has since expanded to accommodate over 400 altcoins you can trade against Bitcoin, Ethereum, US dollar, and Tether (USDT). The platform also supports FIAT, although deposits are made using the cryptocurrency wire transfers.

Bittrex is known for its transparency when it comes to listing up and coming altcoins thanks to its strict source code vetting process. Plus, they also remove inactive coins from their listing to improve the overall quality of their offers. Currently, the only FIAT supported is the USD.

How to trade on Bittrex?

Bittrex offers an effortless way to trade cryptocurrency and manage your digital assets. Once you have signed up for an account and made a wire transfer deposit, you can start analyzing cryptos and making trades. There are various tools and features available from your dashboard to help you pick an option. Bittrex allows investors to buy, sell, or trade cryptos against other coins. You can also use automation features to stop you from generating losses past a preset limit. The platform also has charting tools you can use to track and analyze your trade.

Bittrex trading fees and charges

When it comes to trading fees, Bittrex commissions are slightly higher than the industry average. The platform charges a flat commission of 0.25% on all trades, which can translate into a lot, especially if you are making larger transactions. They do not have any high-volume trades, rebates, or incentives for markers and traders.

There are no fees charged for deposits and withdrawals. However, each coin has its unique transfer fee built into the trade. There are no hidden fees in the system, and the high margins are justified by the platform’s sleekness and premium status. Bittrex offers a decent opportunity to trade numerous cryptos and make a profit.

Deposit and withdrawal

Bittrex does not charge anything for deposits and withdrawals. There, however, is a cap on how much you can withdraw, depending on your type of account. The platform also has no support for direct purchases of crypto using credit, debit, or ACH bank accounts. Nonetheless, identity-verified customers operating outside the US are eligible for USD currency deposits and withdrawals.

About 40 US states, including Alaska, Alabama, California, Indiana, Georgia, Florida, Ohio, Texas, Washington, Michigan, and New Jersey, among others, also have access to this feature. However, you must first add Bitcoin to your e-wallet before you can start purchasing other coins.

Security and digital asset protection

Bittrex is known for its emphasis on all matters of safety. Their platform is one of the safest you will come across in the crypto world, and they use a strict verification process to ensure users are real and safe. The platform also scrutinizes all coin listings and has various security measures to fix all vulnerabilities. The founders of the platform are former security experts with over 40 years of combined experience.

This platform has never been hacked, and there are no cases of any insecurity, which is very impressive considering Bittrex has been around since 2013. Their elastic multi-stage wallet strategy also keeps 80%-90% of user funds in offline cold wallets. Withdrawals require 2-factor verification and API calls, making the platform impossible to breach.

Registration and regulation

Bittrex is a legitimate cryptocurrency exchange company headquartered in Seattle, Washington. While the service is not regulated under the US Securities laws, it abides by all compliance requirements in the places it is available. The company is also not FDIC insured, which presents a significant level of concern should the company go down. Nonetheless, it has been around for a while and boasts a large community of users.

Bittrex customer support

Bittrex offers 24/7 customer support with multiple communication channels. However, as a large platform with numerous users, their customer support is relatively weak compared to most alternatives. Several reviewers have also reported cases of unwarranted suspension pf trader accounts as well as Bittrex taking too long to reply to customer issues. This can be frustrating, but you eventually get a response from the team. 

Bittrex maintains that only 0.1% of its user accounts suffer suspensions and outright bans. Their low-tier requirements also make it appealing for the un-banked global population. But you are advised to first check your local laws on Crypto transactions before investing your money here.

Everything else you need to know about Bittrex

Bittrex is among the leading crypto exchange platforms with low minimum requirements and a sleek feature-rich platform. You can easily create an account, load your wallet, and make trade orders. Managing and monitoring the account is also not as daunting as with other platforms.

However, trading crypto involves a considerable amount of risk. The main benefit of Bittrex compared to alternatives like Binance is verified account owners can access USD deposits and withdrawals. Other than that, Bittrex offers the conventional exchange experience for anyone seeking robust platforms with all popular options.

Verdict: Is it safe to trade on Bittrex?

Other than the reported issues with customer service, Bittrex offers everything necessary to begin trading cryptocurrency. Registration is effortless, and there are several technologically advanced tools and features to help you complete trades. They have also invested in security and as evidenced by their exhaustive verification process. While the site is designed to be beginner-friendly, it has various elements that make it attractive for all kinds of crypto traders. It is also a legal business that boasts of close to five years of experience in the crypto exchange industry.

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Crypto Exchanges

Poloniex Review 2020: A Safe Crypto Exchange Or Scam?

Poloniex crypto exchange started in 2014, and by 2016, it was one of the most popular and preferred bitcoin exchange. What happened after 2016 that saw the crypto exchange fall off the leader’s post into near-oblivion? More importantly, can we really trust Poloniex crypto exchange with our crypto assets and personal information?

Poloniex crypto exchange started in 2014, and by 2016, it was one of the most popular and preferred bitcoin exchange. What happened after 2016 that saw the crypto exchange fall off the leader’s post into near-oblivion? More importantly, can we really trust Poloniex crypto exchange with our crypto assets and personal information?

Poloniex crypto exchange started in 2014, and by 2016, it was one of the most popular and preferred bitcoin exchange. What happened after 2016 that saw the crypto exchange fall off the leader’s post into near-oblivion? More importantly, can we really trust Poloniex crypto exchange with our crypto assets and personal information?

To answer this and more questions regarding the effectiveness of Poloniex, we have come up with the Poloniex crypto exchange review. Here, we will be looking at all things Poloniex, from its mode of operation, trading fees, level of customer support, and everything in between.

We will also look at the amount of customer data the company collects and how it protects it to see if it has learned anything from its March 2014 hack that saw them lose 12.3% of Bitcoin held in their reserves. We will also be looking at its new Parent company – Circle – and the effectiveness of the strategies it is using to help Poloniex regain its market leader position.

We start by gaining a deeper understating of the crypto exchange.

What is Poloniex?

Poloniex is an unregulated crypto-to-crypto exchange that started in 2014. It remains one of the few unregulated exchanges operating in the United States and maintains its headquarters in Boston. Unlike most other-fiat to-crypto and crypto-to-crypto exchanges operating in the U.S, Poloniex doesn’t bar membership from international clients. Today, Poloniex is ranked among the top 100 exchanges in the world – a major fall from the top 10 list back in 2016 – with an estimated market capitalization of $14 million.

At the height of its crypto exchange market dominance, Poloniex was considered the most liquid platform. History even has it that it was the first crypto exchange to post more than $1 billion in daily trading volumes. And while it may have fallen short of the crypto market’s favor, Poloniex is still widely respected for its innovativeness. And all these explain why it attracted the interest of Circle – a Goldman Sachs owned social payment services provider – that acquired it early 2018.

Since its acquisition, Circle has initiated a raft of measures within the crypto exchange – all of which are aimed at helping restore the exchange to its former glory. These include adding a card and bank transfers to its deposit and withdrawal processing methods. Circle is also bending Poloniex towards compliance with different regulations as it hopes to make it the first fully regulated crypto exchange in the United States. This, according to Circle, would help give it more credibility, especially after the launch of a Poloniex based over the counter (OTC) platform that facilitates crypto trading and payments for hedge funds and big banks.

How does Poloniex crypto exchange work?

Poloniex is a pure crypto-to-crypto exchange where you can buy and sell different cryptocurrencies. Unlike most crypto-to-crypto exchanges, however, that will only accept crypto deposits, Poloniex makes it possible for their clients to make credit card and bank wire deposits. Once the fiat currency hits the Poloniex account, it converted into either the USDC or USDT stable coins. This helps the exchange maintain its integrity as a pure crypto-to-crypto exchange without locking out first-time crypto traders.

In addition to trading existing cryptocurrencies, Ploniex allows for the listing of new coins and tokens on its platform via Circle Invest and Circle Trade exchanges. Ideally, any verified Circle-Poloniex platform user can apply to list their tokens on the exchange.

Setting up a Poloniex trader account

We find it interesting that despite being a U.S based crypto exchange, Poloniex is still open to memberships from 100+ countries across the world. This implies that virtually anyone except China, Germany, and Pakistan residents can register on the platform. New York, New Hampshire, and Washington State residents are also barred from accessing Poloniex because the crypto exchange is yet to comply with the BitLicense regulations passed in these three states.

You will also want to note that despite being a crypto-to-crypto exchange, Poloniex doesn’t allow for anonymous trading. You will thus be required to verify your account by uploading identification documents, proof of address, and a selfie before you can deposit or transact on this platform.

Cryptocurrencies supported on Poloniex

Once you register and verify your identity on Poloniex, you will have access to 60+ cryptocurrencies and over 100 crypto trading pairs. These supported cryptocurrencies include all the popular cryptocurrencies like Bitcoin, Ethereum, and Monero against which most other altcoins and tokens are priced. There also are stable coins USDT and USDC.

We believe that the inclusion of the stable coins on this platform is advantageous to both the first time and expert traders in two primary ways. First, it helps attract newbies and by making it possible for them to make fiat currency deposits that are automatically converted into stable coins for use within the platform.

Secondly, they come in handy during periods of high market volatility. If you don’t wish to trade the highly volatile markets or simply aren’t sure of the trade decision you want to take, you only have to convert your assets to stable coins and wait for the best market entry point.

How to trade on Poloniex

We were especially drawn to Poloniex exchange’s well laid out and easy to use dashboard. Predominantly featured on this page are the price chart and graphical representation of the price history while on the right hand of the screen is the real-time market price of different coins. The buy and sell boxes are featured at the bottom of the page.

You will also have access to the exchange’s market order book that lists the selling and buying prices of different crypto coins. You will, therefore, have the option of trading at the prevailing market price or investing in the long term or short term through the limit order trading tool.

Poloniex exchange trading costs

Poloniex crypto exchange maintains some of the most affordable trading fees and commissions. The exchange maintains a graduated fee structure for different transactions based on traded volumes. Maker (buyer) fees start from 0.15% for orders below $25,000 and decrease gradually to zero fees for orders above $20 million. Taker (Seller) fees, on the other hand, start from 0.25% for orders below $25,000 and decline gradually to 0.10% for orders exceeding $20 million. Lenders will also be charged 15% on any interest accrued.

Deposits and withdrawals

For the longest time, traders and investors on Poloniex could only deposit and withdraw cryptocurrencies from the fund. The exchange has, however, added both credit card and bank wire transfers on to the list of deposit and withdrawal processing methods. Your deposits will, however, be automatically converted into either USDC OR USDT stable coins during the cash transfer while your stable coin withdrawals are automatically converted to your preferred fiat currency before hitting your bank account.

There are no deposit fees for both crypto and fiat deposit. Withdrawals will, however, vary from one cryptocurrency to another and the volume of the transactions.

Security and digital assets protection on Poloniex exchange

2FA and Email verification:

At Poloniex, crypto exchange, security starts on the signup page. Here, you are required to activate the two-factor authentication (2FA) by downloading the Authy or Google Authenticator apps. And in addition to these, you will also have email confirmations for new and suspicious trader account logins.

Cold storage:

You might want to note that Poloniex, unlike most other crypto exchange companies, doesn’t provide its clients with free crypto wallets. However, the exchange claims that all the client funds held in the trader accounts are securely held in cold storage with just a fraction of these funds available to facilitate the exchange’s day-to-day operations.

Insurance:

Poloniex also claims to have all their customer deposits invested with the FDIC for up to $250,000 per user. The need for insurance and all these other security measures seems to stem from the fact that Poloniex has already suffered one major hack that saw it lose more than 12% of its client Bitcoin deposits.

Registration and regulation

Poloniex is an unregulated pure crypto-to-crypto trader. Its parent company, Circle, is, however, heavily regulated both in the United States and in the United Kingdom. And while Circle has made public its intention of making Poloniex the first regulated crypto exchange in the United States, it is yet to embrace the different federal and state-based virtual currently regulations in place today, especially the BitLicense that originated in New York.

Poloniex customer support:

Poloniex crypto exchange’s dedication to quality customer support starts with a multilingual website that is currently available in five languages. You can also access the customer support team by raising a ticket on their website or directly via their twitter and Telegram handles.

We take fault in the Poloniex crypto exchange’s lack of an elaborate FAQ section that means that even the most basic customer queries have to be resolved via a customer care ticket. We also are disappointed by the fact that, despite their adoption of advanced technologies and innovativeness claims, the exchange doesn’t have a live chat option.

Everything else you need to know about Poloniex crypto exchange

Mobile apps:

Poloniex crypto exchange recently launched an app-based crypto trading platform that is available on both the Android and iOS versions. This is a mirror of the desktop trading app as it has all the trading features needed to execute a crypto trade.

Poloni DEX:

Poloniex is gradually edging towards decentralization and recently launched Poloni DEX for ICO. On this platform, Poloniex clients can request to have their tokens for different blockchain projects listed. One of the most significant tokens listed on Poloni DEX is ATOMS token for the COSMOS project that seeks to bridge the gap between different blockchains by encouraging interoperability.

Crypto lending:

Poloniex crypto exchange’s innovativeness manifest in its industry’s first lending platform. This makes it possible for Poloniex traders to lend their crypto assets to other traders who promise to refund the advanced coins and a predetermined interest.

Verdict: Is Poloniex crypto exchange a scam?

In this Poloniex crypto exchange review, you have seen that the platform can be a lot of things. It is a pioneer when it comes to innovativeness in the crypto space, as evidenced by the Poloni DEX, mobile trading app, and lending option. We, however, consider its customer support as inefficient, as evidenced by the long wait time when it comes to responding to client queries and lack of a live support feature. It may have fallen victim to the acts of cybercriminals and lost customer funds in the past, but it seems to have learned a lesson and strengthened their systems by embracing cold storage, 2FA, and such other browser-based security features as IP address whitelisting.

Categories
Crypto Exchanges

BitMex Crypto Exchange Review 2020: Is BitMex Legit or Scam?

When looking for cryptocurrency exchange platforms, BitMex is one of the first names you will come across. Also known as Bitcoin mercantile Exchange, this platform boasts of “industry-leading security,” offers 100X leverage, and has no expiry dates for trading. They are also one of the handful of exchanges yet to lose any Bitcoin through hacking and fraud.

When looking for cryptocurrency exchange platforms, BitMex is one of the first names you will come across. Also known as Bitcoin mercantile Exchange, this platform boasts of “industry-leading security,” offers 100X leverage, and has no expiry dates for trading. They are also one of the handful of exchanges yet to lose any Bitcoin through hacking and fraud.

When looking for cryptocurrency exchange platforms, BitMex is one of the first names you will come across. Also known as Bitcoin mercantile Exchange, this platform boasts of “industry-leading security,” offers 100X leverage, and has no expiry dates for trading. They are also one of the handful of exchanges yet to lose any Bitcoin through hacking and fraud.

Thanks to its robust security and advanced APIs, BitMex has established itself as one of the most reliable exchanges for seasoned crypto traders. But how true are these claims? More importantly, is it safe to trade crypto through BitMex?

In this guide, we take a broad perspective into BitMex, including their exchange platform features, mobile platform, registration, trading, leverage, margin levels, and everything else you need to know before you start trading with the exchange. First, let’s take a brief look at the platform’s background.

What is BitMex?

BitMex was established back in 2014 by HDR Global Trading Limited, which was found by former banking experts Arthur Hayes, Samuel Reed, and Ben Delo. Since its inception, BitMex has morphed into one of the most significant platforms for trading Bitcoin. The Seychelles-based exchange offers a non-conventional crypto trading p platform in that you do not deal with actual cryptocurrencies.

In their stead, investors get to margin trade cryptocurrencies CFDs. Here, you can leverage your trades up to 100 times. However, because of the stringent crypto trading rules in the US, BitMex is not open to US-based traders. The upside of using the Bitmex Platform and its and its margin trading features is that it allows you to make large profits from relatively small investments.

The downside to these leveraged trades nevertheless is the fact that you can quickly lose everything in a relatively short time. BitMex suits traders that know what they are doing. Registration is also straightforward with signup only requiring a valid email address, proof that you are at least 18 years of age.

How does BitMex work?

BitMex offers a derivative crypto trading platform, meaning you will not directly trade the cryptocurrency. To understand how the platform works, we need to review the available contracts:

Futures contract

This is an agreement to buy or sell cryptocurrency at a specified date in the future. The contract also has a predetermined price.

Perpetual contracts

Perpetual contracts are relatively similar to the traditional future agreements. However, there is no expiry date with such agreements.

Upside profit contracts

This contract allows you to participate in the potential upside of a cryptocurrency. You pay a premium on a trade date, which you will receive the profit if the crypto price goes up. Otherwise, no payment occurs.

Downside profit contracts

This is the opposite of upside profit contracts as you get paid if the crypto’s price falls.

The BitMex exchange platform offers various functionalities and widgets you can use to manage your orders and change your viewing preferences. It also allows charting, with the TradingView feature that provides better visibility than virtually all exchanges. Once you make an order, you can view, track, and manage it through Active Orders. BitMex platform is solely available for desktop use, which is understandable considering its complicated interface.

You can trade contracts for different types of cryptocurrencies against other FIAT currencies, including the Japanese Yen, US Dollar, and Chinese Yuan. However, all deposits are to be made using Bitcoin, which also the currency used to represent your profits and losses even when trading altcoins. Once you have loaded your e-wallet, you can then use Bitcoin to purchase other cryptos.

BitMex account registration

BitMex, like many other crypto exchange platforms, has a straightforward registration process. Provided you are 18 years and above and have a valid email address, you can create a free account. BitMex offers two separate accounts: the live trading option – which is available to experienced traders – and a demo account (BitMex Testnet) – a sandbox version of the live trading account – that allows you to try the platform without going live.

Testnet demo account is ideal if you want to learn more about how the exchange works before you begin trading real currency. BitMex is registered in the Republic of Seychelles and offers a global service accessible to everyone who meets their minimum requirements. However, the service is not available in some places, including the USA, Quebec Province (Canada), Crimea, Cuba, Iran, Syria, Sudan, and North Korea. The site does not limit location, but your local laws may affect how you use BitMex services. 

Number of cryptocurrencies supported on BitMex

BitMex was founded to give priority to Bitcoin, which was the only trusted cryptocurrency back in 2014. To date, all deposits and withdrawals are only available in Bitcoin. However, the platform supports several other cryptos and FIAT currencies.

This includes Bitcoin and Bitcoin Cash, Ethereum and Ethereum Classic, Dash, Tron, Cardano, Litecoin, Monero, Ripple, Zcash, and Tezos. Bitcoin trades allow both spot and futures trading options. Other cryptocurrencies only provide futures. BitMex focuses on these few options to suit traders looking for highly specific niche platforms that offer leverage on trade. 

How to trade on BitMex?

Trading with BitMex is quite effortless once you get the hand of their unique interface. You first need to sign up for an account and make deposits. The minimum deposit you can make is 0.0001BT. There are no other limits on the maximum you can deposit or withdraw. Once you have loaded your account, you can use the dashboard to find the contracts that match your investment needs. There are various features to help you make an order and manage your trades. 

BitMex trading fees and charges

BitMex offers some of the most competitive trading fees in the market, considering the chunky profits you can make as a seasoned crypto investor. With a -0.025% marker fee, you can quickly grab little rebates. The taker fee is 0.075%, while the settlement fee is 0.05%.

There are no other fees charged in the platform, apart from the regular Bitcoin network fees calculated from the blockchain load. It is one of the benefits of using this platform compared to others where fees can go as high as 0.25%. Fees for Bitcoin are slightly different from other cryptocurrencies. They charge 1% for the initial margin and 0.5% for maintenance. 

Deposit and withdrawal

Deposits and withdrawals are free of charge. You deposit from as low as 0.001 BTC, and there are no other limits. Withdrawals are also pretty fast and available 24 hours a day. What’s more, withdrawals are processed in person at a specific time, which adds an extra layer of security.

You can only make deposits or withdrawals in Bitcoin. Your account balances are also reported in Bitcoin, but you can leverage trades in several cryptocurrencies mentioned above. Unfortunately, BitMex does not allow bank transfers and credit cards.

Security and digital asset protection

BitMex characterizes an exceptional level of security and asset protection with its in-house hand-checked withdrawal system. They also use the underlying index price (not final price) to calculate their margins, making it impossible for frauds to manipulate order books or cause liquidation. They are yet to suffer any hacks or losses since inception.

bitMex partners with Amazon Web Services provide two-factor authentication and trading engine security that can shut down the system whenever the deposit address and private keys don’t match. The platform’s credibility is further guaranteed by the fact that BitMex is an insured exchange that protects your investment even if the site goes down. What’s more, the platform was developed using kdb+, the coding language used by the world’s biggest banks.

Registration and regulation

BitMex is a legal exchange owned by HDR Global Trading Limited, a company that was incorporated under the International Business Company Act of 1994. It is a legit crypto exchange platform that operates under the stringent regulations of existing laws. The service is global but adapts to the unique rules in different places, so you should always review your local laws to know what you can achieve. Since the system has no comprehensive verification process to prove location, it is easy to sign up from anywhere.

BitMex customer support

BitMex uses a standard industry customer support offered through an email ticket. Their site is also packed with resourceful information and an announcement box. There also are a lot of live updates going on in the platform, including a live stream of trader chats. A dedicated support desk answers to your urgent inquiries 24/7 so you are always in good hands. Various exchanges offer better customer support, but you should be able to find any help you seek. 

Everything else you need to know about BitMex

BitMex is the most reputable platform offering margin trading options. You can set your desired leverages manually or automatically using the Leverage Slider. Plus, you can also cancel orders at will or choose an iceberg and fill or kill orders.

If you are looking for an easy to use exchange for margin trading, BitMex is definitely one of the best options. Here, you gain access to the leverages as soon as you are done with account creation. Plus, BitMex allows traders to interact with each other via live chat. Not to mention that there are several widgets and tools to help you manage and visualize your trades. 

Verdict: Is it safe to trade on BitMex?

BitMex is probably one of the best crypto exchange platforms for those seeking margin trading options. The company has invested a lot towards security and focuses on satisfying a unique niche. They offer a transparent operation with extremely low fees and up to 100 times leverage.

While there are no FIAT deposits or withdrawals, the platform is unique and very secure. It is ideal for seasoned traders who are experienced and know how to navigate margin trading options. With that said, BitMex is a legal, licensed exchange company with real human customer support and viable opportunities for making huge profits.

 

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Crypto Videos

Cryptocurrency Exchanges – Beginners Edition

https://youtu.be/WIUb8AMhY8w

https://youtu.be/WIUb8AMhY8w

 

Cryptocurrency exchanges – beginners edition
What are cryptocurrency exchanges?

Cryptocurrency exchanges are platforms that offer their users to buy, sell, or exchange cryptocurrencies for other digital currencies or fiat currencies like the US dollars or Euro. Crypto enthusiasts that want to trade professionally will most likely need to use an exchange that requires ID verification and opening an account. On the other hand, if you just want to make an occasional trade, there platforms that don’t require an account or any form of verification.

Things to look out for before joining an exchange
It’s important to do a little research before you start trading on a specific exchange. These are a few things that you should check before making your first trade on an exchange:
Reputation – Exchanges are extremely public, which means that the best way to find out if an exchange is legit is to search the reviews from individual users as well as well-known industry websites. On top of that, you can ask any questions regarding these exchanges on forums such as BitcoinTalk or Reddit.

Fees

Most exchanges have an information page on their websites, which lists the exchange fees. Before joining any specific exchange, make sure you understand what the deposit, transaction, and withdrawal fees are. Fees may differ substantially from one exchange to another.

Payment Methods

Exchanges can differ greatly in terms of what payment methods they support. They can accept credit & debit cards, wire transfer, PayPal, etc. If an exchange has limited payment options, it may not be as convenient for everyone to use. Purchasing cryptocurrencies through a credit card will always require an ID check. It will also come with a premium price since credit cards carry a higher transaction and processing fees. Purchasing cryptocurrency via a wire transfer will take more time as it takes time for banks to process.

Verification Requirements

The majority of trading platforms and exchanges require some sort of an ID check in order to make deposits & withdrawals. However, some exchanges will allow you to remain anonymous. The verification can take up to a few days, but it protects you from most forms of fraud.

Geographical Restrictions

Exchanges may offer their services to the whole world or just a part of it. Some specific user functions may only be accessible from certain countries. Make sure the exchange of your choice allows full access to all platform tools and functions to the residents of your country.

Exchange Rate

Exchanges may vary slightly in exchange rates. Shopping around may save you a lot of money in the long term. It’s not uncommon to see the rates fluctuate up to 10% between exchanges, as the prices are dictated by the supply and demand of that particular exchange.


Conclusion

Cryptocurrency exchanges are a valuable addition to the cryptocurrency space, which would not function efficiently without them. However, not all exchanges are made equal. Make sure to check every aspect of an exchange before deciding to join and trade on it.

 

Categories
Crypto Videos

Token Swap Explained Part 3 – How To Know If A Token Is Profitable

https://youtu.be/N-aoGwbXuMY

https://youtu.be/N-aoGwbXuMY

Token swap explained – part 3

Part 3 of this series is focused on the token price impact after their token swap.

A deep dive into the price analytics, both pre and post swap, shows that unless the token has incredibly strong brand recognition as well as a significant market cap, it will not attract investors’ and exchanges’ attention.

Out of the 15 projects that were reviewed, only one token improved in token price. The remaining 14 tokens lost their value from when they conducted their token swap.
There are several reasons that affected their price negatively. One of the major reasons was that almost none of them managed to list their native token on a Tier 1 exchange. Native tokens seem to be significantly more difficult to list on Tier 1 exchanges than what most projects thought.
We researched 13 tokens from the previous article, which include:
EOS;
Tron;
Icon;
Aion;
Binance Coin;
Augur
VeChain;
PundiX;
IOST;
Tomochain;
Mithril;
Zilliqa;

CyberMiles Token.
Only two of the tokens (WeOwn (CHX) and Matrix AI) have yet to list their native token on a new exchange since their token swap.
We tracked the exchanges that listed the tokens, which can be seen below.

In total, 110 exchanges agreed to list these 13 native tokens after their token swap. We managed to categorize these exchanges into three tiers: Tier 1, Tier 2, and Tier 3. This classification is made based on the average daily trading volume of each exchange.

Categorization:
Tier 1 Exchanges: Exchanges that exceed the daily trading volume of $70 Million;
This category includes only nine exchanges: Binance, Coinbase Pro, Huobi Global, UpBit, Kraken, Bitfinex, Bitsamp, Kucoin, and HitBTC.
Tier 2 Exchanges: Exchanges that range between $15–70 Million;
This category includes 31 exchanges such as Okex, Bithumb, Bitforex, Coinone, Bittrex, etc.
Tier 3 Exchanges: Exchanges which have their daily trading volume below 15 Million;
These exchanges include FCoin, BiBox, CoinBene, etc. Some of these exchanges reported their daily volume to be non-existent.

Categories
Cryptocurrencies

What Are The Real-Life Applications Of Cryptos?

The word Bitcoin first came to light a decade ago when Satoshi Nakamoto mailed cryptography nerds a technical white paper of what he called the new electronic cash system.” A decade later, it has become a household name, a pioneer in what seems like the next technology-inspired global revolution. The cryptocurrency itself and its anchor blockchain technology are now household names. But questions still abound about what Bitcoin really is and its real-life applications.

The word Bitcoin first came to light a decade ago when Satoshi Nakamoto mailed cryptography nerds a technical white paper of what he called the new electronic cash system.” A decade later, it has become a household name, a pioneer in what seems like the next technology-inspired global revolution. The cryptocurrency itself and its anchor blockchain technology are now household names. But questions still abound about what Bitcoin really is and its real-life applications.

The word Bitcoin first came to light a decade ago when Satoshi Nakamoto mailed cryptography nerds a technical white paper of what he called the new electronic cash system.” A decade later, it has become a household name, a pioneer in what seems like the next technology-inspired global revolution. The cryptocurrency itself and its anchor blockchain technology are now household names. But questions still abound about what Bitcoin really is and its real-life applications.

Chances are you are either familiar with the term Bitcoin or have interacted with this crypto technology at one point. You probably heard the interesting but cautionary tale about a cryptography nerd that paid for two Pizzas with 10,000 BTC just about the time the digital currency was gaining momentum.

Today, one Bitcoin is valued over $7,500, and at one time, it hit the highs of $20,000. The once worthless digital coin has now become a major topic in the global finance arena. Central bank heads and governments are rushing to tame the coin that they consider a threat to the government-controlled currencies. Some like China have banned Bitcoin use within its borders.

Note that while these political and policy challenges have contributed significantly to Bitcoin price volatilities, they have done little to negate its penetration into the global economy. And in this guide, we will be looking at some of the real-life applications of the Bitcoin digital currency. Here are a few:

Purchasing food and property:

You, too, can use bitcoin to pay for Pizza. Unlike in 2010, however, you don’t need 10,000 BTC to pay for it. The massive Bitcoin popularity has seen several fast food companies innovate their payment systems to include Bitcoin. The move has also seen the birth and adoption of the Pizzaforcoin technology that processes Bitcoin and 50 other cryptocurrency payments in the fast foods industry.

The bitcoin revolution has spread way beyond the fast-food industry and into the global eCommerce industry. Here, the ever-increasing number of online shops like Overstock and Microsoft will ship different products and process your Bitcoin payment option. Propy.com – an international real estate company – has started accepting Bitcoin payments whileMyCOINreality.com is also advertising homes that you can purchase using Bitcoins.

Inventive middlemen like Gyft are also making it possible for you to buy from popular eCommerce stores like Amazon and Target that don’t accept Bitcoin payments via the digital currency – albeit indirectly. To achieve this, Gyft helps you convert your bitcoins to gift cards that you can use to shop.

Paying for social and professional services

People around the world are also using bitcoin to pay for social/ entertainment and professional services. One of the online industries most impacted by bitcoin payments is the sports betting and casino industry that has grown tenfold since the launch of bitcoin. The primary driver of the explosive growth witnessed here is the fact that most of these bitcoin processing companies support anonymous betting, deposits, and withdrawals.

Traditional online casinos were highly regulated, taxed, and limited to the nationality of members that they can accept in their casino. Bitcoin casinos don’t report your winnings to the tax authorities, aren’t bound to a specific jurisdiction, and will process registration for individuals from virtually any part of the world.

Interestingly, you can also use Bitcoins to settle payments for different professional services. Lucerne University – a vocational art and science institute – in Sweden was among the first to process bitcoin payments for tuition. Ever since King’s College in New York, Cumbria University in the UK, and the European School of Management and Technology in Berlin have since started accepting Bitcoins. Law firms, hospitals, and accountancy firms have also joined the bandwagon.

Salary payment:

Japan has, on several occasions, and different global platforms been hailed for having the most progressive cryptocurrency laws. Here, bitcoin and a handful of other cryptocurrencies are accepted as a legal property that can be used in place of fiat currencies in monetary transactions throughout the country.

New Zealand would, however, make history as the first country to okay the payment of salaries, goods, and services and adequately regulate the bitcoin taxation process. Here, companies get to pay their employee salaries and goods and services via bitcoin while obeying the different tax laws like the Pay As You Earn (P.A.Y.E) deductions and other withholding taxes.

Alternative to inflation-stricken global currencies:

In Bitcoin, Satoshi Nakamoto saw the solution to all the inherent limitations of the fiat currencies, chief among them inflation. The inflation menace in almost every instance caused by having too much money in circulation, which effectively translates to a loss of the currency’s value. To arrest this and make Bitcoin inflation-proof, Satoshi limited the number of Bitcoins that will ever be created to 21 million coins.

All over the world, failed and failing nations like Zimbabwe and Venezuela have been witnessing cases of hyperinflation that make their currencies worthless. At the peak of inflation in Zimbabwe, for instance, saw the country’s inflation hit over 200 million percent. In Venezuela, inflation towers way above 10 million percent, and nothing seems to work – not even the devaluation of their Bolívar currency. The situation in the country is so dire that residents are using the bolivar notes to makes bags for sale in and outside the country.

In both of these countries, the tech-savvy and much of the elite class have already turned to bitcoin and other cryptocurrencies as a means of preserving their cash. While the rest of the country turns to the US Dollar and currencies of neighboring countries, this elite class has turned to bitcoin transactions. In Harare, Zimbabwe, for instance, there has been installed several cryptocurrency ATMs for Bitcoin and Litecoin aimed at providing the citizenry with highly reliable and trustworthy financial exchanges.

Sending cash home:

There is a staggering number of expatriates working all over the world. And they all have one common problem – finding a secure, efficient, and cost-effective means of sending cash home. Most avoid banks primarily because of their exorbitant fees, and also due to the heat, most of the institutions turn their way in the form of scrutiny by the host country governments. But they also don’t want to risk their cash by trusting these rather unconventional, unreliable, and equally pricey online payment methods.

Most of these individuals have, therefore, turned to bitcoins. The only time most of these will have to interact with their host country’s financial institutions is when converting their cash to bitcoins. Sending cash home in the form of bitcoins has gained track in recent years because the transfers are free. International bitcoin transfers are also safer and instantaneous, unlike bank transfers that often take as much as five days before the cash reflects on the home country’s bank accounts.

Trade and digital asset investments:

The global perception of Bitcoin and blockchain technology has tremendously improved, as evidenced by favorable bitcoin policies in most economies. However, most of these countries are yet to acknowledge the digital currency as a legal tender. Crypto operations have thus been left on the fringes of unregulated online trade. It, therefore, would be right to say that crypto trade on exchanges accounts for the largest form of crypto application in real life. In most cases, the traders on these platforms seek to exploit the highly volatile nature of digital currencies by profiting from their regular price fluctuations.

When Bitcoin first premiered in these crypto exchanges, it was valued at no more than a few cents. The forces of demand and supply would, however, see it skyrocket and hit $20,000 at its peak in early 2018. Today, one BTC is valued at over $7,500. Either of these figures and valuations represent thousands of percentage value growth in a short ten years.

Investment analysts have gone on to label it the best performing investment product, overtaking the traditionally hailed real estate and money markets. There also is a general feeling that all factors held constant; Bitcoin’s value will continue to soar. This has the in effect, created the next most popular form of real-life application of this coin – Bitcoin investments.

Unlike bitcoin trade, where traders buy the coin with the intent of selling it as soon it reports a small percentage jump in price, investment refers to a long term buy and hold strategy. Bitcoin investors will, in this case, buy and hold on the coin for the longest time with the intention of drawing maximal profits from its long term and consistent value growth.

Pay for travel and accommodation:

Apparently, you can book for your local or international air flight or accommodation and pay with Bitcoins. Travel companies like Cheapair.com make it possible for you to purchase air tickets and make accommodation bookings that you pay with Bitcoins. They will also connect you with cruises, tour guides, and even international cruises that accept bitcoin payments.

Donate to charity:

If you are passionate about charity and would like to donate to charitable courses, you don’t necessarily need to go through the troubles of converting your bitcoins to fiat currencies. The world isn’t short of not-for-profit organizations that accept bitcoin and other crypto donations. The most popular today, include The Water Project that builds clean water solutions in Sub Saharan Africa using pooled funds, Common Collections that donates pooled Bitcoins to refugees and underprivileged global communities, and even Julian Assange’s WikiLeaks that advocates for more transparency from governments and corporations by leaking what they consider classified information.

Buying and selling art

For the longest time, the art industry was dominated by the super-rich, who used art as a store of value. The landscape is, however, changing and transforming into a more welcoming niche where virtually anyone can buy and sell art. But did you know that you can now initiate art transactions using Bitcoin? Companies like Bitpremier.com have already created an online platform that connects art sellers and buyers willing to transact using Bitcoin.

Paying for VPN or domain name:

Different internet companies are also alive to the use of Bitcoin and, therefore, accept bitcoin payments for various services. NameCheap, a domain registration company, will, for instance, let you buy and renew the domain name for your blog or website via bitcoins. And if you are trying to avoid trackers and keep your online activities private, Express VPN lets you subscribe for their premium services with bitcoins.

Pay for monthly bills:

Your post payphone service provider is also keen on digitizing their payment systems. AT&T, for instance, started accepting Bitcoins as a payment method for users seeking to settle their phone bills.

Conclusion

A decade ago, Bitcoin was no more than an idea on a technical white paper that only cryptography nerds could decipher. And when the online community started appreciating its monetary value, 10,000 BTC could only buy two Pizza. Ten years later, it has become the center of attention for financial institutions, governments, and central bank heads that consider it a threat to the traditional banking and financial systems. Countries like China have banned its use within its borders, while others like the United States have resorted to suppressing its influence in the country. However, none of these strategies has stood in the way of bitcoin morphing into a globally accepted digital currency.

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Crypto Videos

Everything You Need To Know About Cryptocurrency Exchanges

https://youtu.be/00atGAtjm_c

What are cryptocurrency exchanges?
Cryptocurrency exchanges are online platforms where users can exchange one cryptocurrency for another. The exchange rates are based on the market value of the

https://youtu.be/00atGAtjm_c

What are cryptocurrency exchanges?
Cryptocurrency exchanges are online platforms where users can exchange one cryptocurrency for another. The exchange rates are based on the market value of the


What are cryptocurrency exchanges?

Cryptocurrency exchanges are online platforms where users can exchange one cryptocurrency for another. The exchange rates are based on the market value of the given assets at that moment in time. Most cryptocurrency exchanges allow for crypto-to-crypto exchange, while some even allow trading fiat for cryptocurrency and the other way around. An important thing to notice is that cryptocurrency exchanges are not cryptocurrency wallets or wallet brokerages. Cryptocurrency wallets and wallet brokerages allow their users to buy and sell a small range of popular cryptocurrencies.


Types of cryptocurrency exchanges

There are four main types of cryptocurrency exchanges:

  • Traditional cryptocurrency exchanges
  • Cryptocurrency brokers
  • Direct trading platforms
  • Cryptocurrency funds

Traditional Cryptocurrency Exchanges 

Traditional cryptocurrency exchanges are all exchanges that act like the traditional stock exchanges. Users can buy and sell their assets based on supply and demand, which creates market prices. The exchange acts as a middleman in the process and charges trading fees for transacting. While most of these exchanges only exchange cryptocurrency, some allow users to trade fiat currencies for cryptocurrencies.

These exchanges can be centralized and decentralized. Centralized exchanges are run by third parties and hold their user’s keys. They act as support and problem solvers. Decentralized Exchanges (DEXs) operate by trading that is based on smart contracts. There are no centralized third parties, and the wallet keys remain in the hands of its users. While decentralized exchanges sound like a better option, they are often slow and do not support fiat trading.


Cryptocurrency Brokers

Cryptocurrency brokers are website-based exchanges that allow its users to buy and sell cryptocurrencies at a price set by the broker rather than the market. This price usually has a premium on the market price. The exchange is between the buyer or seller and the broker acting as the other party. Coinbase and Shapeshift are good examples of cryptocurrency brokers. For the slightly higher price, brokers offer ease of use and convenience in general.


Direct Trading Platforms 

Direct trading platforms offer peer-to-peer trading between buyers and sellers, and they don’t use a fixed market price. They let sellers dictate their exchange rate while buyers find sellers they like and perform an over-the-counter exchange. Many decentralized exchanges work this way, but most of them still fall under the traditional exchange category. LocalBitcoin.com is a great example of a centralized peer-to-peer exchange that allows fiat-to-crypto exchange.

Cryptocurrency Funds 

Cryptocurrency funds are professionally managed cryptocurrency asset pools. These funds allow users to buy and hold cryptocurrency via their services. GBTC is a prime example of cryptocurrency funds. Cryptocurrency funds let its users invest in cryptocurrency without ever having to purchase or store it by themselves. On the other hand, the bought cryptocurrencies are only there as an investment and cannot be used.

Conclusion

There are many forms of cryptocurrency exchanges, but they all try to achieve the same goal: customer satisfaction. While some focus on the ease of use, others focus on the options that they provide. Crypto-trading beginners will most likely want to use traditional exchanges or brokers.