How to Buy & Sell Binance Coin🥇 A Beginner's Guide 2020

Who the DeFi leaders are and how to earn on Maker, Compound, Aave, Curve, Synthetix and QDAO DeFi

Who the DeFi leaders are and how to earn on Maker, Compound, Aave, Curve, Synthetix and QDAO DeFi
The DeFi ecosystem has already recreated traditional financial instruments in a new ‘unchained’ decentralized structure. This year, a huge number of DeFi-related projects gained the attention of crypto enthusiasts. The leaders of the race are Maker, Compound, Aave, Curve, Synthetix and QDAO DeFi. These projects provide a significant number of opportunities to earn money. So let’s find out what the DeFi market mood is right now and how you can increase your holdings in 2020.

DeFi market 2020

According to data provider DeFiPulse, the total value locked in USD right now is $6.7 billion. And it is best to check the data regularly because it is growing rapidly.

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For instance, the value was $4.21 billion at the beginning of August 2020. It rose by one third in just 3 weeks.
Taha Zafar, a crypto analyst, shared data that illustrates how DeFi tokens performed within the past 90 days. As you see, they are doing even better than Bitcoin.

https://preview.redd.it/9fqxp3t012m51.png?width=1600&format=png&auto=webp&s=958b53a5ba71eac4b8e5d3f5b71c5aa4f5fdcc0c

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So while the market is soaring, there are already a number of DeFi leaders that stand out among others.
They are:
  • Maker
  • Compound
  • Aave
  • Curve
  • Synthetix
  • QDAO DeFi
Maker remained the one and only serious market player for a long time.
However, 2020 introduced some new figures on this chessboard. Compound competes with Maker in the lending sector and is not yielding its position. At the moment, the Compound credit portfolio is $820 million, when at the beginning of the year, it was $100 million.

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With Aave, Curve and Synthetix breaking into the top 10 most successful projects in DeFiPulse and QDAO DeFi being the most promising one, the DeFi market is emerging as a real alternative to the traditional finance sector.
Recently, the DeFi Overview Twitter account posted an illustrative map that demonstrates how fast all the main market players are growing: https://twitter.com/DefiOverview/status/1297829568271642624

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While Binance has already listed some DeFi projects like Compound, Synthetix, YFI and Curve, the u/top7ico posted a forecast list of other promising DeFi projects. https://twitter.com/top7ico/status/1297540483913093120

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What DeFi projects are aiming to get in TOPs

DeFiPulse is the world’s leading resource for providing its audience with fresh-from-the-oven, comprehensive information concerning DeFi. Here you can find all the latest analytics and rankings for DeFi protocols. Moreover, this resource provides you with a list of the best resources on the topic.
The information is being refreshed every hour. The Total Value Locked is calculated by multiplying the total balance of Ether (ETH) and ERC-20 tokens by their price in USD.
To sum up, it is the most interactive platform that maintains the upper hand and provides you with the freshest information about the DeFi market.
Besides, DeFi Pulse has a handy calculator that shows how much money you can earn by locking specific assets.

https://preview.redd.it/edejp4oa12m51.png?width=1600&format=png&auto=webp&s=235a1b0364db63e98c700ad3ffbf299976c572a3
The calculator also shows how much you can get in Compound, dYdX and Maker.

https://preview.redd.it/y3exhz6c12m51.png?width=1600&format=png&auto=webp&s=5abef199edea8dcd2e2c32cde6ac09819e87302b
The platform offers a full range of services just like any usual bank:
  • yields on digital assets
  • cash loans
  • the purchase of tokenized stocks of popular listed companies (e.g. Google, Facebook, Netflix, etc.).
On top of that, QDAO DeFi has its own native cryptocurrencies: USDQ stablecoin (tied to the US dollar). It is also used on the platform and QDAO. QDAO is a cryptocurrency that provides significant bonuses for Deposits, Crypto Loans and other services inside QDAO DeFi. Additional features such as governance of the ecosystem and fee payments within the ecosystem are in the long-term development roadmap.
QDAO DeFi offers 17 currencies and the interface is user-friendly and convenient.
You can open a Secure Personal QDAO DeFi Account and start earning passive income from the very first day. The interest is paid out daily with no fees.
Users can withdraw funds after they reach the minimum withdrawal amount in a specific cryptocurrency.
You can open a deposit in just a few minutes, click the link to find out how.

What’s next for DeFi projects?

Earning on DeFi platforms is easy and convenient. The major players offer a great variety of services to help you find the best way to trade, mint and stake.
Billionaire Bitcoin bull, Tim Draper says, “The DeFi world is almost as technologically advanced as the dollar and when it is, there will be no one who will want to accept a politically manipulable currency like dollars anymore.”
Will DeFi fully replace all the traditional financial instruments? Opinions are divided. However, it can become the basis of a new digital banking system and return the trust to the financial system.
Want to be the first to hear QDAO DeFi news and updates? Visit our website and stay in touch with us on social media: Twitter, Facebook, Telegram and LINE (for the Japanese-speaking community).
submitted by QDAODeFi to u/QDAODeFi [link] [comments]

Bitcoin for Kids - A HowTo via CashApp

Non-KYC options are listed below, but assuming you have a willing parent or guardian, here's an example of how that would work for a minor in the US via CashApp. Ensure your upfront with the parent or guardian as to what your doing.
  1. Get a summer job with some source of direct deposit income.
  2. Ask your legal guardian to help you open a "Youth Spending" checking account also called UTMA.
  3. Ask for a debit card attached to the account.
  4. Have your summer job paychecks direct deposited to the account.
  5. Download the CashApp and link it to your phone number AND email.
  6. Link the CashApp to your Youth Spending Debit card and checking account.
  7. Attempt to transfer $25 from your debit card into your CashApp, assuming you have the money.
  8. Ask your guardian to fill in their SSN when prompted.
  9. Attempt to buy $20 in stock, ask your guardian to answer the questions.
  10. Go to the Bitcoin section and click to enable bitcoin deposit and withdraw.
  11. Ask your guardian to scan their license and take a selfie.
You can also apply for a CashCard which you can add to Google Pay, Android Pay, Garmin Pay, or whatever. Once all the verification are done (a day or two) you will be able to buy and sell US stocks and bitcoin in the app for a 2% fee. For all of these steps, questions about identity, name and address should all be answered as the guardian, not the minor. So the account name is in the name "Adult Smith" not "Minor Smith". Same with SSN and ID checks. You can choose to put your name on the face of the CashCard and Debit Card since this carries no legal weight. The accounts are all still legally in your parent's or guardian's name.
For even lower fees you could ask your parents or guardians to KYC through Binance, Kraken, Gemini or Coinbase to link your checking account to a real exchange.
For those with guardians or parents that would not agree to KYC for you, here are some non-KYC options, though the fees are much (much) higher than 2%.
Please remember that bitcon is easy to steal. Since minor's have limited standing in US courts, most exchanges don't want to deal with them. If you proceed there is a 100% chance that someone will try to scam you. Make sure you catch every scammer you encounter, or you will go broke fast.
Source: Bitcoin for Kids
submitted by brianddk to Bitcoin [link] [comments]

Earn Bitcoin From The Comfort Of Your Home!

DID YOU KNOW YOU CAN EARN BITCOIN ONLINE?
If you want to improve your cryptocurrency stock, the most common options are buying more or trading. you can also make money in the world of cryptocurrency by blogging, gambling, exchange platforms, affiliate programs, and many more.
I'm saying, "Bitcoin," as it is the most popular and established cryptocurrency, but there are several other forms of cryptocurrency affiliate programs out there as well.
Most of the programs pay in fiat money, but not all, some greatest programs pay you BITCOINS--the number 1 cryptocurrency.
HOW TO EARN BITCOIN ONLINE WITH COMPLETE TUTORIAL? NO PROBLEM! WE GOT YOU!
Top Bitcoin Affiliate Programs
  1. Bankera - Hold BNK tokens in your Spectro Coin wallet to get a share of the companies profits.
  2. Bitkong - is a provably fair and most popular bitcoin gambling site with free faucet.
  3. Brave Browser- a free and open-source web browser developed by Brave Software, Inc. based on the Chromium web browser. It blocks ads and website trackers and provides a way for users to send cryptocurrency contributions in the form of Basic Attention Tokens to websites and content creators.
  4. The Abyss - offers many good quality games and you as the affiliate marketer can earn lifetime commissions promoting these games.
  5. Kucoin is one of the most popular exchanges, it has big trading volume and if you hold KCS tokens in the exchange wallet you get a share of this companies daily profits paid automatically into your wallet.
  6. Chain Warriors – Popular and pay as you play games have some of the most earning potentials
Cryptocurrency Exchange
  1. Binance – one of the world's biggest exchanges, stake coins, loan coins and refer users to earn a profit.
Blogging Platform
  1. Publish0x – Earn BAT tokens by tipping users, writing articles and referring users, a nice platform, and easy to earn small amounts of crypto daily.
Blockchain Game
  1. Prospectors - Plunge into the 19th century Gold Rush atmosphere from your device! This exciting game of strategy gives players endless opportunities to earn crypto gold by utilizing blockchain technology. Here you can start a business and explore a world teeming with resources there for the taking.
Blockchain Gambling
  1. Bitvest - solid gambling platform that has many dedicated users along with a transparent and fair system for choosing wins and losses.
YOU WANT SOME MORE? CLICK MORE FOR MORE!
submitted by potatonyo to u/potatonyo [link] [comments]

Earn Bitcoin From The Comfort Of Your Home!

DID YOU KNOW YOU CAN EARN BITCOIN ONLINE?
If you want to improve your cryptocurrency stock, the most common options are buying more or trading. you can also make money in the world of cryptocurrency by blogging, gambling, exchange platforms, affiliate programs, and many more.
I'm saying, "Bitcoin," as it is the most popular and established cryptocurrency, but there are several other forms of cryptocurrency affiliate programs out there as well.
Most of the programs pay in fiat money, but not all, some greatest programs pay you BITCOINS--the number 1 cryptocurrency.
HOW TO EARN BITCOIN ONLINE WITH COMPLETE TUTORIAL? NO PROBLEM! WE GOT YOU!
Top Bitcoin Affiliate Programs
  1. Bankera - Hold BNK tokens in your Spectro Coin wallet to get a share of the companies profits.
  2. Bitkong - is a provably fair and most popular bitcoin gambling site with free faucet.
  3. Brave Browser- a free and open-source web browser developed by Brave Software, Inc. based on the Chromium web browser. It blocks ads and website trackers and provides a way for users to send cryptocurrency contributions in the form of Basic Attention Tokens to websites and content creators.
  4. The Abyss - offers many good quality games and you as the affiliate marketer can earn lifetime commissions promoting these games.
  5. Kucoin is one of the most popular exchanges, it has big trading volume and if you hold KCS tokens in the exchange wallet you get a share of this companies daily profits paid automatically into your wallet.
  6. Chain Warriors – Popular and pay as you play games have some of the most earning potentials
Cryptocurrency Exchange
  1. Binance – one of the world's biggest exchanges, stake coins, loan coins and refer users to earn a profit.
Blogging Platform
  1. Publish0x – Earn BAT tokens by tipping users, writing articles and referring users, a nice platform, and easy to earn small amounts of crypto daily.
Blockchain Game
  1. Prospectors - Plunge into the 19th century Gold Rush atmosphere from your device! This exciting game of strategy gives players endless opportunities to earn crypto gold by utilizing blockchain technology. Here you can start a business and explore a world teeming with resources there for the taking.
Blockchain Gambling
  1. Bitvest - solid gambling platform that has many dedicated users along with a transparent and fair system for choosing wins and losses.
YOU WANT SOME MORE? CLICK MORE FOR MORE!
submitted by potatonyo to earnbitcoin [link] [comments]

Wealth Formula Episode 175: Cryptocurrency and Asymmetric Risk with Teeka Tiwari

Wealth Formula Episode 175: Cryptocurrency and Asymmetric Risk with Teeka Tiwari

Catch the full episode: https://www.wealthformula.com/podcast/175-cryptocurrency-and-asymmetric-risk-with-teeka-tiwari/
Buck: Welcome back to the show everyone. Today my guest on Wealth Formula Podcast is no stranger to the show. He’s a guy who grew up in foster care and came over the US at the age of 16 with just 150 bucks in his pocket and the clothes on his back. And then by the age of 18 becomes the youngest employee at Lehman Brothers. By 20 he becomes the youngest vice president in Lehman history. Later in his career he goes on to launch successful hedge fund and lived the Wall Street dream. I mean he’s known on Wall Street as the guy who’s made a fortune on what is known as asymmetric risk which is what we’re going to talk about in quite a bit and for the rest of us, for many of us that is, he is best known for being the editor of the Palm Beach confidential newsletter which focuses on digital currencies and I am a subscriber to this by the way. Teeka, welcome back to Wealth Formula Podcast, Teeka Tiwari.
Teeka: Thanks Buck. It’s a pleasure to be here and thank you for having me.
Buck: Yeah so you know you were on not too long ago and some people are listening to the stuff about cannabis and they’re probably thinking to themselves, why is this guy talking about cannabis and digital currencies like what is his specialty? In fact the way I’m thinking about this there’s one main thing that they have in common, they’re both in this area that you call and we call asymmetric risk which is really your thing. Discuss what that means and if you would how have you applied it to your own growth and ultimately to your own wealth.
Teeka: So before I get into asymmetric risk I want to talk about how I discovered asymmetric risk and how I changed the way that I yeah. So when I was in my 20s I developed a lot of wealth by taking massive risk in the stock options and commodities market. And I would bet huge positions. And then that all came to an end in the late 90s when I was on the wrong side of a series of trades that were triggered by the Asian financial crisis which ultimately compelled me to file for bankruptcy. And so I had lost about ten years of wealth creation which was considerable at the time. And what I learned was that I had to change my approach that I couldn’t get it all every single time otherwise I would never get off this boom-and-bust merry-go-round. So what I realized was is that I would I would build the portfolio of somewhat safer more income oriented investments and then I would focus on these ideas that are called asymmetric risk trade. So what’s an asymmetric risk trade? An asymmetric risk trade is where you can take a relatively trivial sum of money and if the idea doesn’t work out it doesn’t impact your net your net worth or your day-to-day lifestyle in any way shape or form. But the asymmetric part of it is is that if it does work out it can absolutely move the needle on your net worth. So an example of that would be something like neo which I recommended at around 12 cents that ended up going up to about a hundred and sixty one dollars so that’s something that you could have put a thousand dollars in and turn it into over a million dollars. That’s a classic asymmetric trade. So what I what I tell my readers is you can’t build your whole portfolio around high-risk asymmetric trades. But if you take let’s say five to ten percent of your liquid net worth and allocate it to these types of situations in a and one of the things I talk about is using uniform position sizing, what you put yourself in the position to do is absolutely grow your network sometimes three four five six X without putting your current lifestyle at risk and it is a sweet spot of wealth creation that I’ve created and popularized now for several years that has not only transformed my financial life but the financial life of many of my readers.
Buck: So as you know Teeka my group the Wealth Formula Group in general I mean there’s a lot of people who are well-to-do they’re you know accredited investors they have you know typically probably more money to invest than others they’re you know and I say this because there is a little bit of a difference there when it comes to somebody who’s barely getting by living check to check, that there is an opportunity in your portfolio to say okay what percentage of this portfolio could I put in that I mean listen if I lose it no big deal I mean I won’t be happy about it but it won’t hurt me that much on the other hand this could explode. Now when you look at it from the perspective of somebody who’s got a fair amount of money and link who’s investing you know several hundred thousand dollars a year or maybe a million dollars or something like that like what do you think is a reasonable amount of a portfolio? Like I know for example that even universities are getting into this and they’re looking at hey maybe you know 1/2 of 1% or something like that I mean I know you’re not in the business of giving financial advice but I’m just curious kind of what your approach would be in terms of allocation.
Teeka: So again generally speaking I would say 5 to 10% of your liquid net worth. So let’s say you’ve got a business that kicks out a million a year that you have to allocate for your investment 50 to $100,000. Definitely nobody likes to lose 50 or a hundred thousand dollars but it’s not going to have a material impact on your lifestyle but if you invest 50 to $100,000 and these asymmetric bets pay off you’re talking about five six seven eight ten twelve million dollars in returns on what is a relatively tiny investment relative to your net worth and that is the beauty of this approach.
Buck: Yeah and and I’m glad you said that because that’s exactly kind of where I’m at sort of lingering between five and ten percent you know and for me you know I I kind of put this in there about you know I kind of put this in that area with startups right I’m not gonna I’m not gonna have a separate category just for digital currencies but anything that is super high risk and high reward and I’m sitting about five or ten percent.
Teeka: That all goes into the same bucket so that’s right that for everybody it’s not just oh this is crypto currencies five to ten percent and startups is five to ten percent. No all go into the same bucket is asymmetric risk.
Buck: Yeah now okay so we kind of got ahead of ourselves and you know you haven’t been on the show talking about crypto currency in a fair amount of time we have a lot more new listeners now so for those who know very little about cryptocurrency but they’re smart they’re sophisticated say they’re a group of you know I know worth investors you’re talking to you they’ve not heard about this how do you explain this in the most efficient way possible and what the significance of it is?
Teeka: Okay so that’s a really big question.
Buck: Yeah no I don’t but I bet you’ve answered it a few times.
Teeka: I’m gonna take a shot at it. So listen as a wealthy investor myself why would I want to bother with cryptocurrency? I’m already rich why do I want to mess around with this? So I’m gonna answer it from that perspective. One it’s always nice to make more money. But two the bigger reason is, is what I want people to understand especially wealthy investors is that it’s very rare to invest at the beginning of a brand-new asset class very very rare right it’s brand-new asset classes though just don’t come about. Digital currency is a brand-new asset class that has legs. So why does it have legs? It has legs because we have never had an asset class that is completely non correlated with the business cycle. It’s never existed before. Every asset class in the world is somehow tied to the business cycle gold, industrial, metals, currencies, stocks, bonds, they’re all tied to the business cycle in one way shape or form things like Bitcoin are not so why why does that make it valuable it makes it valuable because if you are pension fund you’re allocating capital across traditional and non-traditional assets you still have this problem of deep correlation right the business cycle falls apart and you’re taking hits across the board. So there have been studies that have shown just with a small allocation of Bitcoin anywhere from one to five percent across the portfolio even though Bitcoin is wildly volatile because it is not correlated and not tied to the business cycle it actually reduces your overall volatility and your overall risk in your portfolio and that is incredibly valuable. So just from a high level portfolio construction standpoint you will see the world’s hedge funds, pension funds, massive allocators of capital start to move tiny slivers of their money into things like Bitcoin and we’re talking tiny slivers of an 80 trillion dollar pie right it’s in real terms its enormous money in relative terms relative to what they have under management it’s a small amount but when you’re coming off a base where the whole markets only worth 300 billion it doesn’t take much to move the market. So that’s from the high level that’s why you must have some cryptocurrency. And then the next level beyond that is that mankind has never had an asset there’s never been an asset we’re a stronger man couldn’t take it from a weaker man. So whether it was the caveman knocking one guy over the head for his shells or the government coming in in Venezuela and confiscating money or the Argentinian government saying oh we’re having a holiday and taking all your assets from the bank something Brazil has done on multiple occasions. You know the everyday person has not had this ability to hold an asset that has been beyond the confiscationability of a government so something like Bitcoin and digital currency if you are smart and how you buy it if you don’t talk about it you buy quietly and you store it appropriately it is absolutely impossible short of somebody putting a literally putting a gun next to your head for them to take that asset from you and that is remarkable because even if you’ve got a million dollars in gold and you somehow manage to hide it how are you gonna travel the world with a million dollars in gold how are you gonna spend a million dollars in gold you just gonna go to the store and break a piece off with a piece of pliers you just can’t do that the beauty of digital currency is you can walk around with a thumb drive that big with a billion dollars in it and nobody knows and let’s say hey oh I don’t want to keep a billion in Bitcoin I want to do it in a stable coin fine put it in a stable coin. But this idea this portability of money and this complete ownership of an asset that nobody else has any ability to take from you that is valuable that is incredibly valuable.
Buck: So let me ask you a what may seem like a very basic simple question but I think it’s worth asking. So why is it so volatile why is Bitcoin Ethereum for example why these are the major the two biggest by market cap why are they so volatile and you know to the extent that they are uncorrelated do you see that as a function of the size of the market cap or is it something else inherent about digital currencies that makes it this volatile?
Teeka: I think it’s both. One they’re relatively small so if for instance if you look at Microsoft in its early days it was a crazy volatile stock up 40% down 40% down 30% going through bear markets that lasted two years wrecking billions of dollars in value you look at the early days of Microsoft from the 80s into the mid 90s the stock was all over the place and then as the stock got bigger and more mature of course volatility tamp down so you will see that. So what I say with volatility is that welcomed that volatility without it the opportunity to make enormous amounts of money off a small amount of money won’t exist. At some point Bitcoin and the theorem will move to this more blue chip status where maybe you make eight percent a year or six percent a year or something or something like that thank goodness we’re not there yet. The other side of it is is that there you know the markets that are built around trading these are completely unregulated. They’re wild. And there’s all types of crazy manipulation that goes on in the market you have some Bitcoin whale let’s sell a thousand coins and scare the market down and then let’s go buy back 2000 coins it’s the Wild West and somebody a skeptic might say well why do I want to buy now why don’t I buy when the market calms down because when you buy when the market calms down and it’s moved to this very highly regulated very low volatility asset it could have ten x between now and then. So yes there is volatility but I believe if you position size rationally you will be well rewarded for that moment for that volatility and that uncertainty.
Buck: So admittedly I was skeptical of cryptocurrency early on and you know I finally did get in and my timing was actually really good it was a fall early fall 2017 right before a massive bull run. And that of course was followed by what has been called crypto winter. So the question is, is winter over because it sure seems like it’s an awful long thawing period I mean no we seem like to have gotten there but there’s a stall is it over or do you still see some you know rocky shores ahead before there’s a you know big move potentially to all-time highs?
Teeka: Well no crypto winter was over in April. I put out a report talking about that and I pinpointed when that happened it happened when Bitcoin broke its downtrend line. So if you go back and if you look at each of the so-called crypto winters or horrible bear markets that have been in the space Bitcoin will always lead the market first always and then the altcoins play catch up right so it feels worse than it is right now because the alt coins got crushed and many of them have stayed crushed they haven’t come back that’s probably the most popular question I get take okay bitcoins up and it’s you know been up as much as 400 percent this year but why aren’t the old coins moving and my answer is because it’s not yet time. If you look back at the data generally there is at least a six-month time lag between the time Bitcoin breaks its downtrend line and the time that the alt coins move higher. So that that next stage we’ll be entering to in about October and you’ll see a percolation in the alt coins and they’ll start playing catch-up.
Buck: Does that also correlate Teeka with Bitcoin like an all-time high for Bitcoin though? I mean I mean obviously Bitcoin has recovered substantially we’re like you know three four hundred percent up from you know where we were when Bitcoin was at you know three thousand. The question I have is and I have not looked at this history closely even though there’s this recovery, do you have to start approaching all-time highs for those alts to really make their move is that what you’ve seen historically?
Teeka: No you look back when they all started playing catch up in 2016 Bitcoin was starting to move higher and then going into 2017 and then the alts really didn’t start kicking in until around May and that’s when they started moving and eventually the alts outpaced the type of action that was going on with bitcoins. So if we look back at how the altcoins move generally what happens is you have a new series of buyers that come into the market and they’re all centered around Bitcoin. And that’s happening right now. Kelly Lafleur just announced from backed that they’re gonna have physically backed futures have been approved September 23rd I believe is the date that they’re actually gonna start trading. So this brings in a whole new group of traders a whole new group of investors and then so they start getting their feet with Bitcoin and all of a sudden they’re there they might not even know anything about alt coins Buck that that’s the thing right for a lot of people out there to them when they think digital currency the only thing they really think of is Bitcoin.
Buck: So as the alt coins are just anything that’s not Bitcoin for anybody what we keep talking about so anything Ethereum, any other and any other token that’s not Bitcoin generally it’s called an altcoin.
Teeka: Right so as they come in they start getting exposed to these other coins and then they start playing with them and they start investing and then they start trading with them and all of a sudden people look at look at Bitcoin and they look at something else it’s a little bit smaller and they say okay let’s let’s play around here and then you start seeing this broadening of the rally.
Buck: So you think that this time around though specifically I know you you you’re part of your thesis is that this time around may be different because you know bigger money institutional money, but one of the things that we’ve really looked at or you’ve looked at and talked about is you know one of the limitations to big money coming into this stuff is custodianship but the altcoins a lot of the old coins most of them are not gonna have that kind of infrastructure so does that I mean just playing devil’s advocate does that then say well they may just stick to whatever they can buy on Coinbase and Bakkt.
Teeka: Well they have well these coins most of the all coins are ERC 20 coins so in terms of having the infrastructure as long as you can support ERC 20 you can support hundreds of coins that currently trade and so if you look at what Bakkt is doing they’re gonna be supporting Bitcoin first and then they’re going to be supporting Ethereum. So if they support a theory they will naturally support every other ERC20 that’s out there and remember companies like Bakkt they’re in the business of incentivizing trading because they get paid for everything that that goes through their network. So it would be odd to imagine that they’re only going to limit their entire business models with just the trading of Bitcoin it doesn’t make any sense. If you look at what they’ve done in the securities market they haven’t just limited themselves to the trading of the S&P 500 they trade everything so I do think that liquidity will trickle down into the whole market and of course the ERC 20 coins I think will be the first to get the most amount of liquidity because it will be the easiest to support from from a back end technology standpoint. The other thing I want to mention is that another driver of the alt coins would be what I believe will be a proliferation of securitization products. So ETF’s different types of futures I see a world I’ve gotta believe within the next 12 months we will see an ETF that will give us the ability to own 20 30 40 maybe 50 coins in one ETF that trades or one type of security that trades maybe it’s a coin put out by back and says okay you buy this coin and you’ve got the top hundred altcoins exposure to the top hundred alt coins.
Buck: Right and then you know I know a lot of people bring do you talk about the ETF for Bitcoin and this has been sort of bounce back but yeah you know we’re delayed with the SEC several times do you really think of that as a big deal compared to some of the other movements that you you mentioned Bakkt and I think there’s LedgerX things like that where that are allowing for institutional buyers to dissipate is an etf really make much of a difference in your view?
Teeka: I think an ETF is important but I think the SEC is becoming less important in that process and I’ll tell you why. Several very large brokerage firms from the Fidelity to eTrade to TD Ameritrade have announced that they want to offer Bitcoin trading to their users. So I’m talking about a system where you can log in click on a button on your Fidelity account and you can start trading Bitcoin the way you with the sp500. Once that comes out let’s assume it comes out this year which they’ve talked about but they want to do it this year but we’ll see everything seems to run a little slower than people think. But if that that comes out this year and something like 15 to 20 million people can now trade Bitcoin directly from their brokerage accounts to me it makes an ETF a foregone conclusion because the SEC has no reason now to stand in the way of it. And that’s what I’m think that they’re waiting for Buck the SEC is not known for blazing a trail the SEC is not known for moving ahead of the market. So if they can look and say well Fidelity is offering it TD Ameritrade is offering it Schwab is offering it we are asses covered if we approve an ETF I think it’s really a CYA problem with the SEC they don’t want to be the first to make this move and let’s say there’s a problem with it and everybody blames the SEC.
Buck: You know there is this product data that I know of maybe you could talk about this because then you know in the context of an ETF and being able to buy Bitcoin easily you know.
Teeka: I look at the there’s a grayscale Bitcoin trust gbtc which is publicly traded I mean what’s the difference what am I missing there I mean that’s a closed-end fund that has limited liquidity and sometimes trade at a hundred percent premium.
Buck: Yeah okay so lots of things happening in the spaces you mentioned and one of the things that I think that that you said that is very seems very clearly true whether or not what you know whether or not you believe there’s gonna be another bull market is there’s a ton of of Technology improvements and infrastructure and all these things that are going on and price mean a lot more by the way then back in 2017 when prices were off the charts so within that context what are you know say they the one or two things that are you most excited about in the space that gives you the greatest confidence that this is you know this is the the new you know the new dot-com era I guess after the rebels fell as you mentioned before offline and you know the rise of the Amazons and the apples in the crypto world.
Teeka: I’ll tell you why it’s because I’m finally seeing major corporations real corporations doing partnerships with crypto companies not memorandums of understanding MOU’s are meaningless but real partnerships where they’re actually using the technology this is stuff i talked about a year ago. Eighteen and a half months ago I said like real companies are going to start coming into this space they’re gonna start partnering with some of these companies and start using the technology and it’s happening. I’m seeing real businesses like Barclays put up their own money to back certain platforms I was like for instance with trade finance. BMW putting up their own money for back in logistics. So this is a huge shift in in in the type of person that is getting involved in the marketplace. I’m seeing massive credit card processors get involved with tiny startups because they want to piggy back what’s going on and the markets that they’re opening up with with their with their applications. So this to me Buck is is such a difference maker right like if we came into 2019 and none of these deals were happening I would say I would be on here and I would say buck you know what the cake just isn’t baked yet man we just probably gotta wait another year. But when I start seeing very large very smart corporate players making strategic moves to align themselves to certain projects, you can’t ignore that. This is something you can’t ignore. And so this is what has me incredibly excited for this next phase that I see taking place in crypto.
Buck: You know one of the one things that you mentioned earlier and you’ve mentioned in the past which I agree with generally speaking is that you know some level of regulation is a good thing so that it becomes less of a manipulated market. So it becomes something that you know larger big money investors and institutional investors take an interest in because they don’t want to be in something that’s you know that’s that’s not legit. There is a negative a little bit to that and that some opportunities out there are you know start or you’re starting to get restricted in terms of American investors. You know one of the examples I can think of to me is one of what I’m probably one of the biggest things is Binance which is you know the number one trading platform in the world is now effectively you know saying US investors we’ll see you later we’re gonna build something you know sometime and we’re gonna call it you know Binance US and we’re gonna have a lot fewer tokens there what concerns me is an investor in some of the various digital currencies at that point is well how does that affect my liquidity as a US investor and I’m wondering how it is affecting your your portfolio?
Teeka: Okay so there’s a couple of things around that and I can’t advise people to do this I can only report on what some people are doing to get around this geofencing. They’re using Virtual Private Networks. With the use of a virtual private network can get access to any exchange in the world so long as they’re using a VPN that mimics a country that this exchange is allowed to operate in. So as far as I know Binance is not doing anything to prevent anybody from using a VPN so just want to get that out there.
Buck: Jut to interrupt there I mean that that in itself is a little tricky though right I mean isn’t it because then you’ve got to deal with you know US taxes and all that if you’re dealing…
Teeka: Well you always have to deal with US taxes no matter what whether you’re using a VPN or not.
Buck: So it wouldn’t be illegal technically to use Virtual Private Network to use Binance?
Teeka: For me as an individual would I be breaking any laws, I don’t think so but I’m not an attorney. Binance might be breaking some laws or but I don’t think that I would be but again this is something everybody has to make their own decision with. But the other side of this is that by Nance is putting together their own decks which is a decentralized exchange which will allow for peer-to-peer trading and I think you’ll see more of these types of decentralized exchanges which I’m a big fan of I hate the idea of centralized exchanges anyway. So there are some speed problems with decentralized exchanges but they’re getting ironed out and I think within in the future a lot of trading is going to move to peer-to-peer but you’re right it’s certainly a concern for now I would say the biggest solution that I have read about and again I can’t formally tell people to do this is to use a virtual private network.
Buck: The other question though I think as just as a follow-up on that Teeka is that okay so say you use a VPN but not everybody’s gonna do that you know probably most people aren’t gonna do that didn’t then there’s an issues just in terms of liquidity right or don’t you think that’s a problem anymore?
Teeka: I do think it’s a problem but I also rely on the greed factor of the participants in this market that they will figure out a solution because there’s too much money to be made for liquidity that wants to come into the market somebody will find a way to bring that liquidity into that okay so anyway so like you you know I believe that Bitcoin bull run is inevitable what do you think of anything what are you looking for that might trigger and I know you you’re saying already that we’re kind of in a bull market already but what triggers that sort of next level all-time high thing is there anything or do you think this is something that’s gonna be more of a gradual rise or organic than it was in 2017?
Teeka: Well there are several things which I’m gonna be talking about specifically I don’t really want to spill the beans on that here but I have an event coming up which I talk in more detail about a very specific event that I think will act as a massive catalyst. Outside of that I think this whole idea of I call it this kind of new narrative right among institutions where before two years ago three years ago they looked at Bitcoin and they said oh my gosh Bitcoin that’s for Gun Runners and pornographers where we we have no interest in Bitcoin. And now they’re starting to see Bitcoin as a way to eliminate this correlation risk in their portfolio. So I think that narrative will gain more ground in fact I’ve been invited to a conference in San Moritz with 500 top-tier investors and I will be putting forward that research that I’ve drawn together to that audience and really helping propagate that narrative because it is transformational if you manage a large pool of capital what you can do with your overall volatility and how you can adjust it lower through just a tiny amount of Bitcoin is absolutely remarkable. So I think that’s more of a slow burn Buck, but as that gains speed I mean can you just imagine just the amount of buying if pension funds say okay going forward half of 1% of all our assets are going to be in digital currency.
Buck: I mean in part of part of understanding that for people is to understand one of the the great things about Bitcoin in particular is that this is an asset with that is fixed to a certain number of Bitcoin that’ll ever be created so you know we’ve never really had a that kind of monetary thing before I mean to a certain extent gold is that way of course but even you know gold there’s always more gold every year a little bit more gold. This is a truly deflationary asset that really where you know you put more money in the pot you know each one of those bitcoins gonna be worth a lot more and that I can’t think of anything else that’s out there like that.
Teeka: I agree.
Buck: I know you’ve got you know the the Palm Beach Confidential Newsletter Teeka I just have to compliment you because I you know I have been a reader for a couple years it is one of the most comprehensive and thoughtful investment newsletters I’ve ever subscribed to. I mean it is totally the real deal and I appreciate that and one of the things that people can’t join any time and it opens and closes and I know that it is going to be opening up and you’re going to do a webinar coming up on that but can you talk a little bit about the newsletter and the event that’s coming up?
Teeka: Yeah sure so in the newsletter what I do is I will typically find one idea each month and give you a complete breakdown on the idea. And what I try to do I understand not everybody is a cryptocurrency enthusiastic of their currency investor and so what I try to do is write in a way that is easy to digest, easy to understand, not simplistic but very easy for the layperson to get their head around and to really understand the concept that we’re talking about. And I have not opened up Palm Beach confidential for any new members for this whole year, this is the first time that I’ve done that and the reason is, is I only open up Palm Beach confidential to new members when there’s an event that I think can have a massive impact on the broad market. So on September 18th at 8 p.m. I’m going to talk about one of these events and the last time this event took place you could literally take 500 dollars and turn it into five million dollars. There’s only a few times in the history of crypto where you have those types of windows of opportunity and so one of those windows of opportunity is about to open and so at this event I’m gonna explain what it is why it works and why it will absolutely happen this particular event will absolutely happen there’s nothing that can stop the event from taking place. And so I’m gonna share my five top coins, one of which I’ll give away for free during the webinar that I think have that ability to go from five hundred dollars literally into five million. So it’s an exciting time and I’m really kind of chomping at the bit to kind of get in front of everybody and talk about this research that I’ve discovered.
Buck: One last thing I want to point out is I get you know when we talk like this sometimes people get really skeptical they’re like yeah that sounds a little salesy Buck that’s not really kind of the usual thing that you’re talking about and I get it right. The reality is this is a situation this isn’t you know there are real people out there there are kids out there who’ve become multimillionaires by doing exactly this. And so it’s real, that’s why I’m interested.
Teeka: In my own investing I’ve seen a thousand dollar investment go to as much as 1.6 million dollars, ok so it’s real. The other thing I want to convey to everybody I don’t have to write newsletters anymore I don’t have to come on podcast I can sit on a beach all I want ok. So why do I do this I do this because moving the needle on somebody’s net worth maybe not this audience maybe maybe my broader audience it’s incredibly gratifying right helping people change their lives without putting their current lifestyle at risk that’s I mean if that’s my one legacy in this life could you ask for anything more Buck? Really it’s incredibly gratifying to be able to do that and we have this opportunity now and but this opportunity won’t last forever at some point this will be a multi trillion dollar asset class and the ability to make gains like that just won’t exist.
Buck: Teeka, as always it’s been a pleasure talking to you and thanks again for being on Wealth Formula Podcast.
Teeka: Thank you Buck.
Buck: We’ll be right back.
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Consensus Network EP35: Cryptocurrency and Asymmetric Risk with Teeka Tiwari

Catch the full episode: https://www.consensusnetwork.io/podcastepisodes/2019/9/8/ep35-cryptocurrency-and-asymmetric-risk-with-teeka-tiwari
Buck: Welcome back to the show everyone. Today my guest on Wealth Formula Podcast is no stranger to the show. He's a guy who grew up in foster care and came over the US at the age of 16 with just 150 bucks in his pocket and the clothes on his back. And then by the age of 18 becomes the youngest employee at Lehman Brothers. By 20 he becomes the youngest vice president in Lehman history. Later in his career he goes on to launch successful hedge fund and lived the Wall Street dream. I mean he's known on Wall Street as the guy who's made a fortune on what is known as asymmetric risk which is what we’re going to talk about in quite a bit and for the rest of us, for many of us that is, he is best known for being the editor of the Palm Beach confidential newsletter which focuses on digital currencies and I am a subscriber to this by the way. Teeka, welcome back to Wealth Formula Podcast, Teeka Tiwari.
Teeka: Thanks Buck. It’s a pleasure to be here and thank you for having me.
Buck: Yeah so you know you were on not too long ago and some people are listening to the stuff about cannabis and they're probably thinking to themselves, why is this guy talking about cannabis and digital currencies like what is his specialty? In fact the way I'm thinking about this there's one main thing that they have in common, they're both in this area that you call and we call asymmetric risk which is really your thing. Discuss what that means and if you would how have you applied it to your own growth and ultimately to your own wealth.
Teeka: So before I get into asymmetric risk I want to talk about how I discovered asymmetric risk and how I changed the way that I yeah. So when I was in my 20s I developed a lot of wealth by taking massive risk in the stock options and commodities market. And I would bet huge positions. And then that all came to an end in the late 90s when I was on the wrong side of a series of trades that were triggered by the Asian financial crisis which ultimately compelled me to file for bankruptcy. And so I had lost about ten years of wealth creation which was considerable at the time. And what I learned was that I had to change my approach that I couldn't get it all every single time otherwise I would never get off this boom-and-bust merry-go-round. So what I realized was is that I would I would build the portfolio of somewhat safer more income oriented investments and then I would focus on these ideas that are called asymmetric risk trade. So what's an asymmetric risk trade? An asymmetric risk trade is where you can take a relatively trivial sum of money and if the idea doesn't work out it doesn't impact your net your net worth or your day-to-day lifestyle in any way shape or form. But the asymmetric part of it is is that if it does work out it can absolutely move the needle on your net worth. So an example of that would be something like neo which I recommended at around 12 cents that ended up going up to about a hundred and sixty one dollars so that's something that you could have put a thousand dollars in and turn it into over a million dollars. That's a classic asymmetric trade. So what I what I tell my readers is you can't build your whole portfolio around high-risk asymmetric trades. But if you take let's say five to ten percent of your liquid net worth and allocate it to these types of situations in a and one of the things I talk about is using uniform position sizing, what you put yourself in the position to do is absolutely grow your network sometimes three four five six X without putting your current lifestyle at risk and it is a sweet spot of wealth creation that I've created and popularized now for several years that has not only transformed my financial life but the financial life of many of my readers.
Buck: So as you know Teeka my group the Wealth Formula Group in general I mean there's a lot of people who are well-to-do they're you know accredited investors they have you know typically probably more money to invest than others they're you know and I say this because there is a little bit of a difference there when it comes to somebody who's barely getting by living check to check, that there is an opportunity in your portfolio to say okay what percentage of this portfolio could I put in that I mean listen if I lose it no big deal I mean I won't be happy about it but it won't hurt me that much on the other hand this could explode. Now when you look at it from the perspective of somebody who's got a fair amount of money and link who's investing you know several hundred thousand dollars a year or maybe a million dollars or something like that like what do you think is a reasonable amount of a portfolio? Like I know for example that even universities are getting into this and they're looking at hey maybe you know 1/2 of 1% or something like that I mean I know you're not in the business of giving financial advice but I'm just curious kind of what your approach would be in terms of allocation.
Teeka: So again generally speaking I would say 5 to 10% of your liquid net worth. So let's say you've got a business that kicks out a million a year that you have to allocate for your investment 50 to $100,000. Definitely nobody likes to lose 50 or a hundred thousand dollars but it's not going to have a material impact on your lifestyle but if you invest 50 to $100,000 and these asymmetric bets pay off you're talking about five six seven eight ten twelve million dollars in returns on what is a relatively tiny investment relative to your net worth and that is the beauty of this approach.
Buck: Yeah and and I'm glad you said that because that's exactly kind of where I'm at sort of lingering between five and ten percent you know and for me you know I I kind of put this in there about you know I kind of put this in that area with startups right I'm not gonna I'm not gonna have a separate category just for digital currencies but anything that is super high risk and high reward and I'm sitting about five or ten percent.
Teeka: That all goes into the same bucket so that's right that for everybody it's not just oh this is crypto currencies five to ten percent and startups is five to ten percent. No all go into the same bucket is asymmetric risk.
Buck: Yeah now okay so we kind of got ahead of ourselves and you know you haven't been on the show talking about crypto currency in a fair amount of time we have a lot more new listeners now so for those who know very little about cryptocurrency but they're smart they're sophisticated say they're a group of you know I know worth investors you're talking to you they've not heard about this how do you explain this in the most efficient way possible and what the significance of it is?
Teeka: Okay so that's a really big question.
Buck: Yeah no I don't but I bet you've answered it a few times.
Teeka: I'm gonna take a shot at it. So listen as a wealthy investor myself why would I want to bother with cryptocurrency? I'm already rich why do I want to mess around with this? So I'm gonna answer it from that perspective. One it's always nice to make more money. But two the bigger reason is, is what I want people to understand especially wealthy investors is that it's very rare to invest at the beginning of a brand-new asset class very very rare right it's brand-new asset classes though just don't come about. Digital currency is a brand-new asset class that has legs. So why does it have legs? It has legs because we have never had an asset class that is completely non correlated with the business cycle. It's never existed before. Every asset class in the world is somehow tied to the business cycle gold, industrial, metals, currencies, stocks, bonds, they're all tied to the business cycle in one way shape or form things like Bitcoin are not so why why does that make it valuable it makes it valuable because if you are pension fund you're allocating capital across traditional and non-traditional assets you still have this problem of deep correlation right the business cycle falls apart and you're taking hits across the board. So there have been studies that have shown just with a small allocation of Bitcoin anywhere from one to five percent across the portfolio even though Bitcoin is wildly volatile because it is not correlated and not tied to the business cycle it actually reduces your overall volatility and your overall risk in your portfolio and that is incredibly valuable. So just from a high level portfolio construction standpoint you will see the world's hedge funds, pension funds, massive allocators of capital start to move tiny slivers of their money into things like Bitcoin and we're talking tiny slivers of an 80 trillion dollar pie right it's in real terms its enormous money in relative terms relative to what they have under management it's a small amount but when you're coming off a base where the whole markets only worth 300 billion it doesn't take much to move the market. So that's from the high level that's why you must have some cryptocurrency. And then the next level beyond that is that mankind has never had an asset there's never been an asset we're a stronger man couldn't take it from a weaker man. So whether it was the caveman knocking one guy over the head for his shells or the government coming in in Venezuela and confiscating money or the Argentinian government saying oh we're having a holiday and taking all your assets from the bank something Brazil has done on multiple occasions. You know the everyday person has not had this ability to hold an asset that has been beyond the confiscationability of a government so something like Bitcoin and digital currency if you are smart and how you buy it if you don't talk about it you buy quietly and you store it appropriately it is absolutely impossible short of somebody putting a literally putting a gun next to your head for them to take that asset from you and that is remarkable because even if you've got a million dollars in gold and you somehow manage to hide it how are you gonna travel the world with a million dollars in gold how are you gonna spend a million dollars in gold you just gonna go to the store and break a piece off with a piece of pliers you just can't do that the beauty of digital currency is you can walk around with a thumb drive that big with a billion dollars in it and nobody knows and let's say hey oh I don't want to keep a billion in Bitcoin I want to do it in a stable coin fine put it in a stable coin. But this idea this portability of money and this complete ownership of an asset that nobody else has any ability to take from you that is valuable that is incredibly valuable.
Buck: So let me ask you a what may seem like a very basic simple question but I think it's worth asking. So why is it so volatile why is Bitcoin Ethereum for example why these are the major the two biggest by market cap why are they so volatile and you know to the extent that they are uncorrelated do you see that as a function of the size of the market cap or is it something else inherent about digital currencies that makes it this volatile?
Teeka: I think it's both. One they're relatively small so if for instance if you look at Microsoft in its early days it was a crazy volatile stock up 40% down 40% down 30% going through bear markets that lasted two years wrecking billions of dollars in value you look at the early days of Microsoft from the 80s into the mid 90s the stock was all over the place and then as the stock got bigger and more mature of course volatility tamp down so you will see that. So what I say with volatility is that welcomed that volatility without it the opportunity to make enormous amounts of money off a small amount of money won't exist. At some point Bitcoin and the theorem will move to this more blue chip status where maybe you make eight percent a year or six percent a year or something or something like that thank goodness we're not there yet. The other side of it is is that there you know the markets that are built around trading these are completely unregulated. They're wild. And there's all types of crazy manipulation that goes on in the market you have some Bitcoin whale let's sell a thousand coins and scare the market down and then let's go buy back 2000 coins it's the Wild West and somebody a skeptic might say well why do I want to buy now why don't I buy when the market calms down because when you buy when the market calms down and it's moved to this very highly regulated very low volatility asset it could have ten x between now and then. So yes there is volatility but I believe if you position size rationally you will be well rewarded for that moment for that volatility and that uncertainty.
Buck: So admittedly I was skeptical of cryptocurrency early on and you know I finally did get in and my timing was actually really good it was a fall early fall 2017 right before a massive bull run. And that of course was followed by what has been called crypto winter. So the question is, is winter over because it sure seems like it's an awful long thawing period I mean no we seem like to have gotten there but there's a stall is it over or do you still see some you know rocky shores ahead before there's a you know big move potentially to all-time highs?
Teeka: Well no crypto winter was over in April. I put out a report talking about that and I pinpointed when that happened it happened when Bitcoin broke its downtrend line. So if you go back and if you look at each of the so-called crypto winters or horrible bear markets that have been in the space Bitcoin will always lead the market first always and then the altcoins play catch up right so it feels worse than it is right now because the alt coins got crushed and many of them have stayed crushed they haven't come back that’s probably the most popular question I get take okay bitcoins up and it's you know been up as much as 400 percent this year but why aren't the old coins moving and my answer is because it's not yet time. If you look back at the data generally there is at least a six-month time lag between the time Bitcoin breaks its downtrend line and the time that the alt coins move higher. So that that next stage we'll be entering to in about October and you'll see a percolation in the alt coins and they'll start playing catch-up.
Buck: Does that also correlate Teeka with Bitcoin like an all-time high for Bitcoin though? I mean I mean obviously Bitcoin has recovered substantially we're like you know three four hundred percent up from you know where we were when Bitcoin was at you know three thousand. The question I have is and I have not looked at this history closely even though there's this recovery, do you have to start approaching all-time highs for those alts to really make their move is that what you've seen historically?
Teeka: No you look back when they all started playing catch up in 2016 Bitcoin was starting to move higher and then going into 2017 and then the alts really didn't start kicking in until around May and that's when they started moving and eventually the alts outpaced the type of action that was going on with bitcoins. So if we look back at how the altcoins move generally what happens is you have a new series of buyers that come into the market and they're all centered around Bitcoin. And that's happening right now. Kelly Lafleur just announced from backed that they're gonna have physically backed futures have been approved September 23rd I believe is the date that they're actually gonna start trading. So this brings in a whole new group of traders a whole new group of investors and then so they start getting their feet with Bitcoin and all of a sudden they're there they might not even know anything about alt coins Buck that that's the thing right for a lot of people out there to them when they think digital currency the only thing they really think of is Bitcoin.
Buck: So as the alt coins are just anything that's not Bitcoin for anybody what we keep talking about so anything Ethereum, any other and any other token that's not Bitcoin generally it's called an altcoin.
Teeka: Right so as they come in they start getting exposed to these other coins and then they start playing with them and they start investing and then they start trading with them and all of a sudden people look at look at Bitcoin and they look at something else it's a little bit smaller and they say okay let's let's play around here and then you start seeing this broadening of the rally.
Buck: So you think that this time around though specifically I know you you you're part of your thesis is that this time around may be different because you know bigger money institutional money, but one of the things that we've really looked at or you've looked at and talked about is you know one of the limitations to big money coming into this stuff is custodianship but the altcoins a lot of the old coins most of them are not gonna have that kind of infrastructure so does that I mean just playing devil's advocate does that then say well they may just stick to whatever they can buy on Coinbase and Bakkt.
Teeka: Well they have well these coins most of the all coins are ERC 20 coins so in terms of having the infrastructure as long as you can support ERC 20 you can support hundreds of coins that currently trade and so if you look at what Bakkt is doing they're gonna be supporting Bitcoin first and then they're going to be supporting Ethereum. So if they support a theory they will naturally support every other ERC20 that's out there and remember companies like Bakkt they're in the business of incentivizing trading because they get paid for everything that that goes through their network. So it would be odd to imagine that they're only going to limit their entire business models with just the trading of Bitcoin it doesn't make any sense. If you look at what they've done in the securities market they haven't just limited themselves to the trading of the S&P 500 they trade everything so I do think that liquidity will trickle down into the whole market and of course the ERC 20 coins I think will be the first to get the most amount of liquidity because it will be the easiest to support from from a back end technology standpoint. The other thing I want to mention is that another driver of the alt coins would be what I believe will be a proliferation of securitization products. So ETF's different types of futures I see a world I've gotta believe within the next 12 months we will see an ETF that will give us the ability to own 20 30 40 maybe 50 coins in one ETF that trades or one type of security that trades maybe it's a coin put out by back and says okay you buy this coin and you've got the top hundred altcoins exposure to the top hundred alt coins.
Buck: Right and then you know I know a lot of people bring do you talk about the ETF for Bitcoin and this has been sort of bounce back but yeah you know we're delayed with the SEC several times do you really think of that as a big deal compared to some of the other movements that you you mentioned Bakkt and I think there's LedgerX things like that where that are allowing for institutional buyers to dissipate is an etf really make much of a difference in your view?
Teeka: I think an ETF is important but I think the SEC is becoming less important in that process and I'll tell you why. Several very large brokerage firms from the Fidelity to eTrade to TD Ameritrade have announced that they want to offer Bitcoin trading to their users. So I'm talking about a system where you can log in click on a button on your Fidelity account and you can start trading Bitcoin the way you with the sp500. Once that comes out let's assume it comes out this year which they've talked about but they want to do it this year but we'll see everything seems to run a little slower than people think. But if that that comes out this year and something like 15 to 20 million people can now trade Bitcoin directly from their brokerage accounts to me it makes an ETF a foregone conclusion because the SEC has no reason now to stand in the way of it. And that's what I'm think that they're waiting for Buck the SEC is not known for blazing a trail the SEC is not known for moving ahead of the market. So if they can look and say well Fidelity is offering it TD Ameritrade is offering it Schwab is offering it we are asses covered if we approve an ETF I think it's really a CYA problem with the SEC they don't want to be the first to make this move and let's say there's a problem with it and everybody blames the SEC.
Buck: You know there is this product data that I know of maybe you could talk about this because then you know in the context of an ETF and being able to buy Bitcoin easily you know.
Teeka: I look at the there's a grayscale Bitcoin trust gbtc which is publicly traded I mean what's the difference what am I missing there I mean that's a closed-end fund that has limited liquidity and sometimes trade at a hundred percent premium.
Buck: Yeah okay so lots of things happening in the spaces you mentioned and one of the things that I think that that you said that is very seems very clearly true whether or not what you know whether or not you believe there's gonna be another bull market is there's a ton of of Technology improvements and infrastructure and all these things that are going on and price mean a lot more by the way then back in 2017 when prices were off the charts so within that context what are you know say they the one or two things that are you most excited about in the space that gives you the greatest confidence that this is you know this is the the new you know the new dot-com era I guess after the rebels fell as you mentioned before offline and you know the rise of the Amazons and the apples in the crypto world.
Teeka: I'll tell you why it's because I'm finally seeing major corporations real corporations doing partnerships with crypto companies not memorandums of understanding MOU’s are meaningless but real partnerships where they're actually using the technology this is stuff i talked about a year ago. Eighteen and a half months ago I said like real companies are going to start coming into this space they're gonna start partnering with some of these companies and start using the technology and it's happening. I'm seeing real businesses like Barclays put up their own money to back certain platforms I was like for instance with trade finance. BMW putting up their own money for back in logistics. So this is a huge shift in in in the type of person that is getting involved in the marketplace. I'm seeing massive credit card processors get involved with tiny startups because they want to piggy back what's going on and the markets that they're opening up with with their with their applications. So this to me Buck is is such a difference maker right like if we came into 2019 and none of these deals were happening I would say I would be on here and I would say buck you know what the cake just isn't baked yet man we just probably gotta wait another year. But when I start seeing very large very smart corporate players making strategic moves to align themselves to certain projects, you can't ignore that. This is something you can't ignore. And so this is what has me incredibly excited for this next phase that I see taking place in crypto.
Buck: You know one of the one things that you mentioned earlier and you've mentioned in the past which I agree with generally speaking is that you know some level of regulation is a good thing so that it becomes less of a manipulated market. So it becomes something that you know larger big money investors and institutional investors take an interest in because they don't want to be in something that's you know that's that's not legit. There is a negative a little bit to that and that some opportunities out there are you know start or you're starting to get restricted in terms of American investors. You know one of the examples I can think of to me is one of what I'm probably one of the biggest things is Binance which is you know the number one trading platform in the world is now effectively you know saying US investors we'll see you later we're gonna build something you know sometime and we're gonna call it you know Binance US and we're gonna have a lot fewer tokens there what concerns me is an investor in some of the various digital currencies at that point is well how does that affect my liquidity as a US investor and I'm wondering how it is affecting your your portfolio?
Teeka: Okay so there's a couple of things around that and I can't advise people to do this I can only report on what some people are doing to get around this geofencing. They're using Virtual Private Networks. With the use of a virtual private network can get access to any exchange in the world so long as they're using a VPN that mimics a country that this exchange is allowed to operate in. So as far as I know Binance is not doing anything to prevent anybody from using a VPN so just want to get that out there.
Buck: Jut to interrupt there I mean that that in itself is a little tricky though right I mean isn't it because then you've got to deal with you know US taxes and all that if you're dealing…
Teeka: Well you always have to deal with US taxes no matter what whether you're using a VPN or not.
Buck: So it wouldn't be illegal technically to use Virtual Private Network to use Binance?
Teeka: For me as an individual would I be breaking any laws, I don't think so but I'm not an attorney. Binance might be breaking some laws or but I don't think that I would be but again this is something everybody has to make their own decision with. But the other side of this is that by Nance is putting together their own decks which is a decentralized exchange which will allow for peer-to-peer trading and I think you'll see more of these types of decentralized exchanges which I'm a big fan of I hate the idea of centralized exchanges anyway. So there are some speed problems with decentralized exchanges but they're getting ironed out and I think within in the future a lot of trading is going to move to peer-to-peer but you're right it's certainly a concern for now I would say the biggest solution that I have read about and again I can't formally tell people to do this is to use a virtual private network.
Buck: The other question though I think as just as a follow-up on that Teeka is that okay so say you use a VPN but not everybody's gonna do that you know probably most people aren't gonna do that didn't then there's an issues just in terms of liquidity right or don't you think that's a problem anymore?
Teeka: I do think it's a problem but I also rely on the greed factor of the participants in this market that they will figure out a solution because there's too much money to be made for liquidity that wants to come into the market somebody will find a way to bring that liquidity into that okay so anyway so like you you know I believe that Bitcoin bull run is inevitable what do you think of anything what are you looking for that might trigger and I know you you're saying already that we're kind of in a bull market already but what triggers that sort of next level all-time high thing is there anything or do you think this is something that's gonna be more of a gradual rise or organic than it was in 2017?
Teeka: Well there are several things which I'm gonna be talking about specifically I don't really want to spill the beans on that here but I have an event coming up which I talk in more detail about a very specific event that I think will act as a massive catalyst. Outside of that I think this whole idea of I call it this kind of new narrative right among institutions where before two years ago three years ago they looked at Bitcoin and they said oh my gosh Bitcoin that's for Gun Runners and pornographers where we we have no interest in Bitcoin. And now they're starting to see Bitcoin as a way to eliminate this correlation risk in their portfolio. So I think that narrative will gain more ground in fact I've been invited to a conference in San Moritz with 500 top-tier investors and I will be putting forward that research that I've drawn together to that audience and really helping propagate that narrative because it is transformational if you manage a large pool of capital what you can do with your overall volatility and how you can adjust it lower through just a tiny amount of Bitcoin is absolutely remarkable. So I think that's more of a slow burn Buck, but as that gains speed I mean can you just imagine just the amount of buying if pension funds say okay going forward half of 1% of all our assets are going to be in digital currency.
Buck: I mean in part of part of understanding that for people is to understand one of the the great things about Bitcoin in particular is that this is an asset with that is fixed to a certain number of Bitcoin that'll ever be created so you know we've never really had a that kind of monetary thing before I mean to a certain extent gold is that way of course but even you know gold there's always more gold every year a little bit more gold. This is a truly deflationary asset that really where you know you put more money in the pot you know each one of those bitcoins gonna be worth a lot more and that I can't think of anything else that's out there like that.
Teeka: I agree.
Buck: I know you've got you know the the Palm Beach Confidential Newsletter Teeka I just have to compliment you because I you know I have been a reader for a couple years it is one of the most comprehensive and thoughtful investment newsletters I've ever subscribed to. I mean it is totally the real deal and I appreciate that and one of the things that people can't join any time and it opens and closes and I know that it is going to be opening up and you're going to do a webinar coming up on that but can you talk a little bit about the newsletter and the event that's coming up?
Teeka: Yeah sure so in the newsletter what I do is I will typically find one idea each month and give you a complete breakdown on the idea. And what I try to do I understand not everybody is a cryptocurrency enthusiastic of their currency investor and so what I try to do is write in a way that is easy to digest, easy to understand, not simplistic but very easy for the layperson to get their head around and to really understand the concept that we're talking about. And I have not opened up Palm Beach confidential for any new members for this whole year, this is the first time that I've done that and the reason is, is I only open up Palm Beach confidential to new members when there's an event that I think can have a massive impact on the broad market. So on September 18th at 8 p.m. I'm going to talk about one of these events and the last time this event took place you could literally take 500 dollars and turn it into five million dollars. There's only a few times in the history of crypto where you have those types of windows of opportunity and so one of those windows of opportunity is about to open and so at this event I'm gonna explain what it is why it works and why it will absolutely happen this particular event will absolutely happen there's nothing that can stop the event from taking place. And so I'm gonna share my five top coins, one of which I'll give away for free during the webinar that I think have that ability to go from five hundred dollars literally into five million. So it's an exciting time and I'm really kind of chomping at the bit to kind of get in front of everybody and talk about this research that I've discovered.
Buck: One last thing I want to point out is I get you know when we talk like this sometimes people get really skeptical they're like yeah that sounds a little salesy Buck that's not really kind of the usual thing that you're talking about and I get it right. The reality is this is a situation this isn't you know there are real people out there there are kids out there who've become multimillionaires by doing exactly this. And so it's real, that's why I'm interested.
Teeka: In my own investing I've seen a thousand dollar investment go to as much as 1.6 million dollars, ok so it's real. The other thing I want to convey to everybody I don't have to write newsletters anymore I don't have to come on podcast I can sit on a beach all I want ok. So why do I do this I do this because moving the needle on somebody's net worth maybe not this audience maybe my broader audience it's incredibly gratifying right helping people change their lives without putting their current lifestyle at risk that's I mean if that's my one legacy in this life could you ask for anything more Buck? Really it's incredibly gratifying to be able to do that and we have this opportunity now and but this opportunity won't last forever at some point this will be a multi trillion dollar asset class and the ability to make gains like that just won't exist.
Buck: Teeka, as always it's been a pleasure talking to you and thanks again for being on Wealth Formula Podcast.
Teeka: Thank you Buck.
Buck: We'll be right back.
submitted by Buck_Joffrey to u/Buck_Joffrey [link] [comments]

SOVREN mission is to build a regulatory and legally compliant securities trading platform that is both accessible to retail and institutional traders, creating a place where a global audience can participate and collaborate jointly in creating and sharing wealth.

What is a STO?
STO, which stands for Security Token Offering, refers to a movement taking place at the Initial Offering stage. The security tokens are essentially financial securities and therefore, they are backed by tangible assets, profits, or company revenue and regulated by the regulatory bodies in the local jurisdiction they operate in. For Sovren this will be EUROPE and the FCA to start with.

How will you manage Securities Token Issuance?

When it comes to issuance of a new STO, Sovren is incorporating current requirements for issuing traditional Securities products. This will form part of stage 1 and will require the business to complete all the required steps, legal and compliance, before approval and creation of the tokenized security. This part is offchain to start and with certain details then pushed onto the smart contract once the issuance is approved. Example contractual reference with signatory details will become part of the smart contract. This is a unique USP for Sovren as we are creating our specification with more details to be revealed soon(to protect IP)

Can you provide some details on your STO exchange process?

When it comes to listing an STO there are a few things to consider.
The buying process will be greatly simplified for our users by managing ownership via the smart contract rather than managing token transfers. This means that we can implement STO buying with simple click and buy as per original stocks market as a ‘product’ and not as a crypto to crypto exchange like Binance. Traders will be able to buy using any currency, Fiat, bitcoin, SVRN, they hold in their Sovren APP e-wallet within a few clicks with ownership then captured in the back end using interoperability services with our 3rd party providers for custodial services.
https://sovren.app/
submitted by wartech_17 to SovrenSTX [link] [comments]

Understanding dividend paying coins (NEO and COSS) and why dividend stocks are the most lucrative investments for Stock purchasers

Some of the most popular Stocks are the ones that pay dividends. Nvidia’s stock has skyrocketed over the past year because of the growth of their company and the dividends that they are paying out. Not to mention the potential of AI to drive even more profits for Nvidia in the long term.
All smart investors know that the best investments are the ones that provide a passive source of income. Why is the real estate market so lucrative? Because every property you buy has the potential to grow in value but also pay you a ROI from renting/leasing out the properties.
In this post I will be discussing two dividend sharing coins, Neo, and my favorite COSS which I feel is significantly undervalued. There are many more dividend sharing coins that everyone should take the time to research as these may be the best long-term investments out there. Before I dive into these two coins let me start with a quote by Warren Buffet:
“If you don't find a way to make money while you sleep, you will work until you die!”
As I always say for all my posts, do your own research! Don’t just blindly follow others that tell you to invest in coin X or coin Y. Find out if the coin is worth investing in and spend a couple minutes and read up about them and make your decision by yourself.
COSS
COSS (Crypto One Stop Solution) is an Ethereum based ERC223 token that when held by investors shares fees earned by the parent exchange: https://www.coss.io. The exchange itself has approximately over 80 trading pairs and will be adding several more this month. All the trading pairs are traded against either Ethereum or Bitcoin. The exchange offers COSS token holders a split of the fees they earn through their trading volume. Dividends are paid out weekly in the form of all coins traded on their exchange. The coins that have the most volume are the ones you earn most of. For example, since everything is traded against Ethereum or Bitcoin you will mostly earn in Bitcoin or Ethereum by holding COSS tokens. The best part about this is that you earn so many different coins that all have potential of growing in the long term with the growth of cryptocurrency. For those people that are always thinking about diversifying this is one of the best ways to do so by earning dividends in so many different altcoins. Currently the COSS exchange has more than 7 million USD in volume. Based on this COSS dividend/price calculating website http://coss-stats.com/, you can see that the Token is currently undervalued based on a 5% return on investment calculation. (You can test this by setting Exchange volume to 7 million and ROI to 5% and clicking calculate price, it returns a price of 0.64 USD and COSS is currently valued at 0.28 USD). Apart from all this COSS is launching FIAT trading this month, this means that not only will you be earning more dividends through fee splits from the FIAT gateway but it will bring more trading volume to the exchange itself. Just imagine if Binance shared the profits of the fees their exchange earned weekly with Binance coin holders, holding just a few of those would make you a lot of money in dividends. COSS is far from the level of Binance but with the growth of the Cryptocurrency market in the coming years this is a coin everyone wants to have in their portfolio. For those that are skeptical COSS is a fully compliant exchange with the Monetary Authority of Singapore so it has some strong credibility behind it and will be more difficult to shutdown compared to several other unregulated exchanges out there today.
NEO
NEO or as some like to call it the “Ethereum of China” is a smart contract platform designed to allow development of smart contracts to build a scalable network of decentralized applications. Many ICOs have already launched on the platform proving it is a viable alternative to the Ethereum blockchain. NEO’s blockchain is run on another token termed GAS. GAS is used to pay transaction fees generated by applications using the network. All investors that own NEO tokens earn dividends paid out in the form of GAS tokens. GAS can subsequently be sold to realize the dividends earned. GAS earnings are entirely dependent on the use of the network, as the network becomes more widely used the more dividends NEO holders will earn. Again, this all relates back to the growth of the cryptocurrency market and adoption of blockchain technologies. For those that say that Ethereum is the only platform that will be used in the long term I think they don’t realize that there is always room for competitors, just look at PC vs MAC, iOS vs Android, Amazon Echo vs Google Home. In the same way there will always be room for competition in the crypto world.
TLDR
If you are a long-term investor in the cryptocurrency space consider Dividend paying coins. This way you can invest now and make money while you sleep in the coming years. In particular look at NEO if you believe in the growth of decentralized applications and want to earn a piece of that market. Look at COSS if you believe in cryptocurrency as a whole, if you believe exchanges are here to stay, and want to diversify your cryptocurrency portfolio with many altcoin pairs, but while mostly earning in Ethereum and Bitcoin.
Useful Links:
COSS Exchange: https://www.coss.io
COSS Dividend calculator: https://www.coss-stats.com
COSS Exchange volume: https://coinmarketcap.com/exchanges/coss/
COSS Token statistics: https://coinmarketcap.com/currencies/coss/
NEO Dividend calculator: https://neotogas.com/
NEO Token statistics: https://coinmarketcap.com/currencies/neo/
GAS Token statistics: https://coinmarketcap.com/currencies/gas/
submitted by blockchainguy101 to CryptoCurrency [link] [comments]

$50 FREE OFFER SIMILAR TO BLOCKCHAIN — crypto.com

Crypto.com the company behind the well-known cryptocurrency wallet and the publisher of crypto-payment cards MCO has just announced an amazing promotion. Users in exchange for registration, correct verification and completed transaction for the amount of approx. $ 15 (which returns back) receive absolutely free $50!
Conditions:
-Registration and quick identity verification (2 min + waiting for acceptance to several minutes),
-Adding the refcode (without it you will not receive $50). refcode that will give you $ 50: bs8hbdzdub
- The purchase of cryptocurrencies for approximately $ 15 using a bank card or bank transfer in EURO. The paid amount can be withdrawn again, so we do not lose anything.
How to use the promotion / airdrop:
  1. Download the Crypto.com application from Google Play or the AppStore
  2. Start the application and select the option on the main screen to use the referral code (you can also enter the code later — in the Settings tab (gear icon) → Referral code). The code is bs8hbdzdub
  3. We register in the application and perform quick verification using a driving license / identity card / passport. After completing the verification, wait for acceptance — from a few minutes to several hours.
  4. In the meantime, we check if the verification has been completed. If so, there should be an equivalent of about $ 50 on the wallet, which can be withdrawn after the transaction (read step 5).
  5. We buy a cryptocurrency. Go to the Buy tab and select the cryptocurrency you want to buy (I recommend Ripple, because the minimum purchase amount is much smaller than for others, eg Bitcoin). In the case of Ripple, the minimum purchase amount is the equivalent of about $ 15–18). Next, we add a bank card by clicking on “Add Credit or Debit Card”, which we will use for this operation. After connecting the card, you should purchase the desired cryptocurrency, eg Ripple, and enter the smallest possible value in the field of the purchase quantity.
  6. After the transaction, we receive a message about the equivalent of about $ 50 in free.
  7. We buy cryptocurrencies for the amount received, e.g. Ripple. To do this, go to Buy → Choose the desired cryptocurrency eg Ripple → Go to the Crypto Wallet tab → Make a purchase for the available amount (it is counted in the MCO token) → Send all funds in the cryptocurrency eg Ripple (including “invested” previously with money) on the stock exchange for sale (Send → Withdraw → We give the address of the stock market wallet / personal crypto wallet — it can be Binance, Coinbase, or something)
submitted by v3nomstyle to airdrops [link] [comments]

Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm (Full Article No Link)

Alan Booth is the CEO of one of Cryptopia, an exchange regarded as having one of the widest selection of tokens. Founded in 2014, Cryptopia is one of a handful of blockchain-focused companies in New Zealand.
The Cryptopia team is often tasked with researching hundreds of projects to determine their efficacy before any other major exchange has touched them. The exchange lists many projects in their early stages and post-ICO.
As an entrepreneur and business consultant for over 50 years, Alan Booth’s story is fairly atypical of that of many entrepreneurs in the cryptocurrency world. His perspective on the cryptocurrency is grounded in decades of business development experience, and he views the cryptocurrency exchange realm as one of the most exciting opportunities yet.
In the following interview, we dive into everything from cryptocurrency psychology, the coin listing process, and blockchain entrepreneurship.
How did you get introduced into the crypto world?
That’s interesting. I was consulting for Cryptopia or consulting to assist them in their development path for several months when it became obvious that they needed some senior leadership to move them from where they are, which was basically a reactive technical focus to a more business global focus on how we develop their business model. We are very conscious of the fact that you need a higher level of thinking. You need a global perspective, particularly from New Zealand because there’s not a lot of us down here.
That probably predicates why we’re a global business grown out of such a small population. We’d known each other for a while, certainly six months or so, and when the opportunity came up, why wouldn’t I move from a very safe, comfortable, fun job that I had previously, which was the chief executive of an international flying school. Nothing really scary goes on there.
I am at the latter end of my working life, somewhat semi-retired and all my colleagues went, “You’re going to do what? Are you kidding?” Of course, the blood pressure went up and I said, “yeah, I’m going to have a go at this.”
So, it’s really about the opportunity when you’ve learned so much over 40 or 50 years of developing business models and floating companies and taking them to the world, which is primarily what I’ve done. To find something that’s new and a full of excitement and fear and trepidation and where is all this going? Then it’s an opportunity you can’t afford to pass up. So, it’s just the daredevil saying let’s go.
The risk and the general fervor for the industry have gotten a lot of people very excited. What are the top concerns for exchanges moving forward from your perspective?
They are many fold and they are variable based on feedback from the community and somewhat driven by legislation, driven by corporate requirements. The FinTech world, we’ve got to look at that as well as the coin world. If we want to grow and deliver a product that the average consumer can consume, then we have to deliver all the things that they would typically expect. So, if you went into a retail store to buy a heater, you expect to have a warranty.
You expect to be safe, you expect to be treated well with clarity. And typically, the coin industry to date has not been very good at that because it’s been evolving and mostly evolving from a technical perspective with probably less weight put on the public consumption of the coin. It’s being technically driven as a technical product when you look at it. When you go to the exchange, some of them take a fair bit of thinking about before you can operate.
So, for us, the first thing is trust. If people can’t trust your brand, and that means every part of it, you’re not going to succeed. So, we are very proactive here in New Zealand, talking to legislators, government agencies in and out of New Zealand. KYC, AML, CML, all of that stuff. We are drafting our own internal rules and then most cases they exceed the requirements of our banking partners. So, they look at us and they go, wow, you’re way ahead of where we thought it would be. So, developing a trust relationship with our consumers and business partners is vital. The next thing is developing a stable and functional platform. I don’t just mean the coin exchange itself, but all of the underlying technology. Will we be up? Do we have latency? Are we speedy? Have we purchased the right partnership relationships for our equipment and how do we continue to be able to scale at will and not risk failing to deliver a result? That means helping people get an exchange done, their coins on and off. I suspect it’s the same as every other exchange.
Only thing is, down here, we have really focused on three things to move us very quickly forward. One is the public-facing components. That’s the help desk if you get stuck. We want to be able to respond very quickly. And like the other exchanges, we headed enormous influx in the early part of the year and that was debilitating. Nobody was ready for it. We employed teams of people to come in and train as support operators. We’ve since then spent a huge amount of money on a new ticketing system, which actually went live yesterday.
So, this morning when I come in, there’s smiley faces trying to get their head around it going, wow, this is amazing. So, we triage all the tickets on the inbound route now and puts it in a good space for our response team to reply as quickly as possible, I want. At the moment, we’re not there. Instead of being 40 or 50 hours and all these horrible delays, I want people to have a response from us immediately and I mean within seconds saying we’ve got your ticket. I can’t answer it right now, but we’re on you. Then, within hours, get back to those customers and fix their problem. They don’t deserve to wait 24 hours or 48 hours. People are anxious. Ticketing, we’ve done something about it. Highly trained staff, we’re employing all the time. We’ve developed foreign offices to beat the time zone thing. We now have a support office in the UK that we have had for some time, actually. The next thing is just the stabilizing of our software and hardware.
When you start these things, the enthusiasm and the inexperience of the development team may not know what’s here to them and now we’ve bought in bigger, stronger, international teams. So, that’s great what you’ve got, but let’s do this. So, that’s the phase we’re on now. We’re spending all of our money. In fact, every penny that we generate in this business goes straight back into furthering and developing the products. Nobody’s racing home in Lamborghinis or flying their jets around. They’re just piling into it.
So, that’s how I am in terms of producing a high-quality product. It’s not a decision we just made. It’s always been there, but we are now articulating it internally, that we want to be in the top five of crypto exchanges and digital asset exchanges of some form within the next two years. In the top five, bar none, in every respect.
Would you say the number one component of being thought of as one of the top five would be trading volume? Is that the primary metric?
I absolutely agree with you, but you can’t have trading volume unless you provide the other things first, like security, safety, a good trading platform. If you want trading volume, I have to have a reason for you to trust me, which has to be if I have a failure, will my ticket, be answered? If you do those things, you will get trading volume. I don’t believe you look at it the other way and say, hey, let’s create trading volume because if that comes at you hard and sharp, how are you going to cope with it when something breaks?
It’s technology, things will break. It’s how you address things that go wrong that made you successful, not what you put in place to drive that business in. That will happen if you’re good. The word gets out saying this is a great exchange. They fixed my tickets, they’re fast, they’re responsive, it’s safe. That will create trading volume.
Trading volume for us is income and of course, we want it. We have actually slowed down on coin listings. We’ve slowed down on taking new customers and we’ve slowed down on developing relationships with partners simply to get our platform in better shape so that we can become the most reliable, trusted partner you can have. That will create trading volume, no doubt about it.
Although trading volume does bring in a sizable amount of revenue, there comes a point where it just becomes a vanity metric where people are using an exchange simply because there just aren’t any better alternatives out there.. So, if there is an exchange that can offer all the features that you’re talking about and a premium level of service, then the trading volume will trickle down. There’s no real loyalty for exchanges other than preferences.
Absolutely. We wouldn’t ask for that. Why would you say to somebody, hey, you got to be loyal to us? That’s just silly. You will be loyal to us if I offer you a great experience. That means volume of coins, a huge range to trade through. Ease of trading. One click, two clicks. How about some trading tools just like you see in a modern foreign exchange opportunity? Some arbitrage tools, some tools for measurement, some nice desktop tools.
We want to introduce other things. It just means that you’ve got control over your own reporting and your own desktop environment. It can become a very powerful tool to use as long as we listen to the customers and say, hey guys, we can develop that. Give us a couple of months, let’s put it in front of you.
What is the coin listing process for you guys? What’s the process for someone who wants to get their coin listed on Cryptopia?
We’re just reviewing that and we’re being very focused on changing the way we list coins and who we list. We’re very conscious to gain trust. We are actually your first port of call for particularly those people who don’t know much about coin, so they have to trust their exchange partner. Therefore, we have to make sure that if we list a coin, it’s a viable trusted, honest coin that’s going to give value.
Not just to us as an exchange but it’s not a scam coin. It’s not something just to raise money, pump and dump thing. We have coin listing teams who are very tough. I have introduced people as the CEO to my coin listing team and I can’t get it through them. I’ve said, but these are great guys and I have a great story and I met them in Vancouver and boy, they’ve convinced me.
My coin listing technical team does all the due diligence. Everything from GitHub, Facebook pages, normal stuff like that. If it doesn’t look like a viable product to us on many levels, then it doesn’t get listed. That’s the end of it.
If [the coin] gets past that, we do further due diligence. We’ll actually interview the company. We’ll ask why do you want to list? Why do you want to list with Cryptopia? What’s your plan for the coin? What do you want us to tell customers because they’re going to be relying on us? So, we’d like to do more than just have a coin called 21 Million sitting on the exchange. How about if we had a link to that with some of the criteria we use to judge whether that was a good opportunity. Whether it was a good coin. We might have a 10-point plan and we might say, hey, this coin passed at 9.7. This coin is in, but it only got in at 2.4. Whereas the negative coins, the coins that have gotten negative plans, negative equity in our mindset, they just don’t get on the exchange.
We have a very large number of coins at the moment. We want to remain in that space, be the leader. That means that clearly, we’re not going to get it right all the time because we make mistakes and actually, so do the some of the honest and reliable coin generators. Their plans might not just happen, so they get the benefit of the doubt for a while.
As long as we see that they’re not doing something deliberately to disrupt the market or just to take money, then we’ll support them until they get their business model right. But we’re very focused on a coin listing to us is actually a business partnership. We’re not just going to throw coins up there.
I think 2018 is the year of reckoning, wherein 2017, pretty much anything got listed anywhere. It didn’t really matter how functional the coin was or whether it was legitimate or not. So, it’s really cool to see the trend in exchanges making a stance against that because if the ax falls, it doesn’t fall on the anonymous coin team that could be in Switzerland and Ethiopia. It’s falling on the CEOs and the exchange teams that are allowing access.
People come to us and they say, hey, I haven’t got my money. You’re the exchange. I go, well actually, the coin that we listed, I’m afraid the wallet’s faulty or they didn’t do this, or they ran away. People don’t care. They’re relying on us. That’s why Cryptopia has to be a business partner with each and every user, not just a provider of some coin listings. That would be unethical.
Absolutely, and it’s good to hear. Speaking of regulations, how do you think that’s going to evolve for exchanges, especially being out of New Zealand?
I welcome a regulatory intervention for many reasons. The primary one is that as soon as the regulators start imposing their will and taking notice, it means that it’s a genuine opportunity. They don’t waste their time on something that’s not going to affect global economies or our economy. For example, the New Zealand regulators, we’re working and we’re working with them because they recognize that somebody has got to work with them to tell them what’s going on.
The other side of the fence, that’s us. We have to work with them to say, you can’t do that because it won’t work in this environment. So, working with regulators is critical, in my opinion, and we’re doing that very well. Regulation has to come.
It was just announced in New Zealand a few days ago that we’re going to start, this is unrelated to coins, collecting GST, which is our equivalent of your local taxes, on online purchases. So, typically anything up to $400 that you buy online from Amazon, for example, in New Zealand, you wouldn’t pay tax on and they’re changing that. They’re taking the same view with coins. So, the government is saying, how do we tax revenue? When do we tax revenue? What should it look like? How do we make it fair for you, the exchange and how do we make it fair and manageable by the consumers who may have to declare a capital gain if they’re going, for instance, as an equity or a property as pure speculative fun like betting? And if that’s the case, when should we do this? Should we backdate all that stuff?
Every country is going through this and some have jumped in and made decisions that they’ve had to backpedal on. They were a little bit hasty. In New Zealand, in particular, we have a great relationship with the regulators and all the powers that be, right down to the banks, and are all looking at the space saying, you know what? We don’t quite know what to do, but let’s start doing something and I welcome it.
And the more understanding and control we have on these things at this early stage these next few years, the neater and cleaner will be over the next few years. Just as banking has become very stabilized through regulations, so will this crypto business, whatever it ends up looking like.
New Zealand has its advantages because a smaller population could make building direct relationships with regulating authorities easier. Tim Draper, for example, is investing in Papua New Guinea to try and make this whole digital citizenship country. The Binance guys just moved over to Malta. The global landscape just opened up, and governments will have to start offering distinct advantages to attract companies that could hypothetically set up virtually anywhere.
That’s great because that’s exactly what online trading is about. It’s online and it’s global. We have to join the global party, but we better start from a position of understanding and strength in our own environment. Make sure we have our own stuff together before we start yelling about what someone else should do.
Yeah, absolutely. Shifting gears a little bit, what do you think about decentralized exchanges and how they’re going to affect the whole exchange thing?
The quick and easy answer to that is it will definitely affect the global exchange market. It will definitely affect FinTech because if people who are regular investors and that’s people with mom and pops with a few dollars, right up to institutional investors, if they can see a way of generating revenue and it’s safe, they’re going to move there. They’re not going to discard their other investment opportunities and they’re not going to discard regular exchange-traded equities or working on the stock exchange. But there’s a space here that we haven’t quite worked out who that’s going to work for or how, but the more we regulate, the more we make the tools visible.
The stronger we look to the market and the more professional we look. That doesn’t necessarily mean just wearing a suit into a meeting, but the more gravitas we have behind those discussions demonstrating that we’ve done on the work and that we’ve got smart people here and the technology’s good. We’re ready to come and meet and talk equitably to investors and traditional investment houses. Then there will be a way that they join up. There’s no doubt about it. I mean, it can’t be helped.
How about the lightning network and atomic swaps where you could pretty much exchange peer to peer. You could trade Litecoin for Ethereum directly in one single transaction without an exchange. Centralized exchanges have their benefits, like for example, there’s someone you can knock on their door and say where’d my money go? I need customer support. So, there are advantages there, but then the advantages of a decentralized exchange are just the efficiency. I’m wondering how is that viewed for the centralized exchange world?
I don’t want people to take away my income opportunity. We’re building a business. We would argue, and I think it could be demonstrated to date until the blockchain comes up with some technical solutions. We’re building a trust environment and we are taking on, at considerable cost, the responsibility for providing the trust. First, it’s a coin that we like and here are the reasons. We’ve done the due diligence on your behalf. We allow the transactions to take place and here’s how we regulate, manage and deliver that transaction and manage the wallet relationships.
Cryptopia’s Coin Information display
That’s a role we take on. So, if you trade with a centralized exchange, you’ve got a whole lot of advantages that you don’t have by trading peer to peer. It’s fairly obvious what a peer to peer relationship looks like. If that’s on a personal level, that risk is much greater. If it’s on a more corporate structured level, I don’t know what that looks like yet, but I think we’ve got a long way to go before we could move from centralized exchanges to peer to peer simply because there’s going to have to be some regulation around it. How would the regulators engage in that space? Who are they engaging with? Every single person who wants to trade?
At the moment, they can deal with an exchange that has potentially 2,000,000 to 10,000,000 customers. That’s not easy for a regulator or a tax authority. So, there’s the regular regulatory component. That’s got to be there. Then there’s the trust management and then there are just a few more technical issues that I think have yet to evolve.
It all comes down to running a business. It takes money and capital to get all these users you want to get. If the technology works, that’s great, but onboarding users take resources. How do these projects plan on doing that? It’s just a missing component of every single white paper that tries to go after that who isn’t trying to build a centralized business to oversee it.
I think philanthropy is wonderful and when people are talking about decentralization. It’s a great idea and it’s philanthropic and it would be wonderful if the world could work like that. But there’s never been a business model that has worked without generating revenue. There isn’t one. Everyone’s tried, but you can’t name one that doesn’t have to generate revenue at some point or another.
Even if that revenue is simply generated to make the action happen, the hardware, the software, the bandwidth, someone’s got to pay. So, if you’re decentralizing, how do you get paid? How do you police it? How do you manage it? Why not stick to a model that works? And it’s not just about centralized coin exchanges. It’s not just about front-end institutions. This is a model that’s worked since the first inhabitants of Earth swapped a bean for a stick or can I give you my dinosaur to cook while I bring you a giraffe? I don’t know, but you can’t have a society without an exchange happening of some value in exchange.
Even if I go to a coffee bar with you, here’s the simplest thing. I would say, hey, I’ll meet you for coffee, on me I might pay for the coffee, but guess what? We’ve sat down and exchanged information. I’ve gotten something out of it. How do you do stuff without exchanging value?
It’s push and pull between advancing technology and proving the model works but then what’s the incentive to run it and popularize it because you’ve got that whole chicken and egg problem. We need a bunch of users for this to work efficiently, but we’re not going to make any money doing it. Hopefully, we’ll see how things play out in the next couple of months or years or decades.
I’m down for decades and a lot of failures. We’ll be there watching them saying we’ll help you if we can and hey, go and play guys, but come back here when it doesn’t work because we are going to be here.
What are your thoughts on Bitcoin dominance in general compared to all the other coins out in 2018? So, what does a cryptocurrency landscape look like if Bitcoin happens to fall down to, let’s say, 15\% or 10\% of the market?
Does Bitcoin really dominate or is it just big? If you look at the exchanges and watch the traffic, can you see as much traffic taking place and as much interest in the CoinCash or 21 Million or Kenya or any of these things? They’re all there and people are trading them for various reasons. Mom and pops are going to be doing this to buy a new car.
Someone else purely looking as a store of wealth and other people are looking to dominate a market. So, I’m not sure that you could say Bitcoin dominates. It might be the largest store of wealth at the moment. Does it dominate people’s thinking? I’m not sure about that. If you’re a coin developer, it’s your coin that’s dominant in your mind and you’ll go after a particular vertical, even a geographic market. So, you have the potential to develop your store or your story within that business scope.
Why does Bitcoin dominate? Simply because it was seen as an opportunity? Is it dominated because the people who trade in Bitcoin put so much faith in it being a store of wealth or an opportunity for capital gain? But a lot of those people have run away. That’s why it’s not $20,000 at the moment. It’s just trading between 8,000 and 10,000 in there. So, it stabilized. So, what if it fell over? Some people will lose money.
It’s not going to change the blockchain, it’s not going to change our thinking about cryptocurrencies. It’s not going to change Cryptopia’s approach to the market. It might dominate in volume. I’m not sure it’s the dominant force supporting cryptocurrencies.
I see what you’re saying. It might just be a dominance of user acquisition because there’s a larger chance they heard of Bitcoin instead of Ethereum if they have heard of cryptocurrency at all. So, it’s like the gateway crypto.
Take care that people aren’t saying Bitcoin just like a Hoover, the vacuum cleaner. Every vacuum cleaner for 20 years was called a Hoover. That was the dominant brand. Hey, I’m going to Hoover the floor. What they meant was I’m going to get my vacuum cleaner of which there are 80,000 different makes out there now and they’re going to vacuum the floor, but they just called it a Hoover. So, I trade in Bitcoin.
I’ll bet you someone who says, yeah, I trade Bitcoin, he’s only saying bitcoin because he knows or she knows that people understand that you’re referring to a cryptocurrency. If you say to someone I trade in Clearpoll or CoinMedic3, they have no clue what you’re talking about. They go what is that? Oh, it’s Bitcoin. Oh, I get it. If you went home to your mom and dad and they asked what are you doing? You’d say, oh yeah, I’m trading cryptocurrency. They’d go, oh? What’s what? You’d go, Bitcoin. They go, oh, that thing.
Bitcoin Cash is competing to be known as the Bitcoin for a reason. In the next four or five years, there are millions of people that haven’t even heard of crypto that would probably receive a lot of benefits from being onboarded into the cryptocurrency world. I’m not really sure how what they get onboarded to first matters immediately, but I know it plays a substantial role for a lot of people.
It’s an initiator. It’s a keyword that attracts them to the space that we’re in. It’s simply because it’s got brand dominance in the public persona. If you say a Bitcoin, most people know you’re talking about that strange online thing that no one understands and there are a few other coins, but we don’t know what their name is. As soon as they hit an exchange, if they really want to try it, they’re going to look at the next one down and say oh, I didn’t know that existed. They’ll make their way right to the bottom of the 2,000 list.
So, I really don’t think we should worry too much about dominance or anything that’s measured in that way in the space because the variables that change our value perception on any of these products is a mystery to everyone. A rumor can cause change overnight and things like that have happened. Guess what? They also happen in traditional exchanges.
Go to the London stock exchange and you’ll see a piece in the paper tomorrow that prices rocketed or have fallen over the next day because the public is there. The public is there late, remember. If you see it in the news, it has already happened. That’s the same thing for this.
So, what are your favorite projects out right now?
It has to be blockchain focused. I mean, coins seem to be a tool that are being used to raise capital, raise awareness, create hysteria over or some fun. Some of them, and I believe it’s very few of them, I wouldn’t like to statistically put a number on that, but I think it’s very, very few have actually got a basis of a typical good investment. Is company strong behind it? Do they have good ethics? Why are they doing this? What’s it for? Or is it just to raise money?
When they’ve got money they can go, oh, look how much money we’ve got. Let’s do something. That’s not the way to grow a business. Somebody has to have a good story that’s technically supported. It has to have social value these days. And that means is it good for mankind? Is it going to save the planet? Will it do something? Create manufacturing? Whatever it is.
Hey, I’m not a philanthropist. I’m not saying you’ve got to do something to save the planet. But the youth of today are much more conscious about anything we/they do is about social conscience and social values and responsibility. So, for me, any of those projects, whether they be blockchain based or coin based that do something more than just making money for a bunch of guys, so they can go buy a Lamborghini, gets more of a look and support from us than the others.
There are ways of going and creating wealth for yourself than preying on opportunities that exist simply because exchanges listed them. So, we’re very careful about that. So, I wouldn’t like to say at this stage, we have anyone in particular. We do have some businesses we’re looking at, but they all are very well rounded in terms of their sales pitch. It’s ethical, it’s got a good background.
They have strong management, a history. They’re well-funded already. They’re not just grabbing money to then decide what they’ll do with it.
Well said. The one point you made about how these projects need to be ethical and how that impacts those business models because again, you tap into to the same vein of projects that are looking to substantially change industries that had been stifled by inefficiencies or corruption.
It stretches a long way. If you find a solution that bugs business and usually if it bugs a business, it bugs and effects people, consumers, in some way. That might just be, where it’s blockchain related, securities and tracking things to make this whole trust environment that we live in. The point is we say we can trust but we can’t trust.
Everything we do is about trust. We get lawyers to look after our trust issues and we shake hands and we still wonder whether it’s a deal. So, solving trust issues globally is probably one of the biggest benefits to mankind because once we solve the trust issue, you can then be positive or confident that something that you want to happen and agreed to happen is actually going to happen. If it doesn’t happen, it’s not just about the broken trust. It’s then about the finances involved before you got there.
That’s all gone. The future has all gone around that business model. So, trust management in blockchain and around coins and around exchanges, decentralized exchanges, is probably the biggest thing we have to deal with. Which takes me back to my core development program right now, which is developing a trustworthy exchange.
Make it clear, unambiguous. Make it reliable, deliver what we said we were going to do.
What does a day in the life of Alan Booth look like? What do you do for fun when you’re not doing exchange type things? If there’s even time for fun.
If you’re running an exchange, it’s 26 hours a day to run an exchange. If you can squeeze another hour in, you might find some fun. This is probably my last employment opportunity. I’m in my 60’s. I’ve spent 50 years being an entrepreneur and an arm waver. Wave your arms and see who’s taking notice and make something happen.
So, fun for me is actually the exploitation of a business opportunity. I go to bed hoping that I wake up in the night with an idea to scribble on the pad. I come to work a very early. I’m up at 5 am. I get here at 7 am if I can with the work already done. I don’t want to arrive at work and look at emails. If you’re looking at email and other stuff, it’s other people’s requests on your time. I’m going to arrive here being creative.
I want to arrive every day going, I’ve got nothing to do except be creative and compel all of my employees and partners to support that creativity and bring their own creativity to it. So, you couldn’t have more fun than that, could you? What else is there? Just to make stuff and see people get excited and give them the opportunity.
But when I’m outside of this, hey, I liked to fly light aircrafts. I ride fast motorbikes. I do guy stuff, and when I’m not doing guy stuff, I’m at home helping my wife in the garden. Just an ordinary guy. Most of my daylight waking hours is about being that global entrepreneur with regard to this huge global opportunity which is let’s change the world.
It’s like moving from coal to steam, steam to mechanization, mechanization to electronics, and now we move into the digital age and we’re in it. What a fantastic place to be.
So, how exactly do you do that? Do you just wake up earlier and just get everything done at 5:00 AM?
There’s never enough time in the day. What it is, it’s being super critical about what’s actually important. If you open your email when you get to work, I will guarantee that you will sit there procrastinating and jump between emails. Most people don’t work from the top to the bottom or the bottom to the top. You’re a little bit selective, so already you failed to do what people expect you to. Email and inbound inquiry are other people’s expectations of how to use your time.
They’re imposing their requirements on you. So, you’ve already allowed yourself to be managed by outside rules. You’ve got to arrive at your office with nothing that interferes with the creative process of why am I at this office? Why did I come here? I came here to understand what we’ve got. So, that’s a constant job. To work with the clever people that you have employed. I have a major role in employment and myself. Only employ smarter people than yourself, only. Because if you’re employing people that aren’t smarter than you, you’re going to have to tell them what to do and you don’t have time for that.
Now, employing people smarter than yourself, for me, that sets the bar quite low, that’s easy, so I get really good pickings. But, generally speaking, you need to employ the best people and get them going and then you’ll be so busy running around trying to keep up with him, not them keeping up with you, that you actually have no time for all that outside noise. You’ve got to impose on the world what you want, not the world imposing on you what they want. Turn it around.
Every time I have a conversation with somebody, it’s about what I want, in the nicest possible way. We will listen to inbounds but we already have a path to follow. If you start following other people’s paths, you’re not going to get where you want to go.
Here’s the thing. I’ve been a business mentor for probably 20 years.
Mentoring basically new CEOs. New CEOs, it’s the loneliest job in the world because it might be your first CEO job, so you can’t talk down because those people below you expect you to be the boss, so you can’t ask them. You can’t talk up because you’re the CEO. It’s no good asking the board, they’re looking down at you. You can’t talk sideways because they’re your competitors. So, the first year or two as a new CEO is the loneliest place on the planet.
So, what you have to do is be entirely focused on what you need to get done and that is by changing what you used to do before you became a CEO or a boss. What you used to do is respond to every bit of noise that came at you and it filled your day up until you went nutty.
Thank you! Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm
CoinCentral's owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner.

Alex Moskov

Alex is the Editor-in-Chief of CoinCentral. Alex also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.
submitted by dapps411 to Cryptopia [link] [comments]

About Binance

Binance is a cryptocurrency exchange with CEO Mr. Changpeng Zhao, who previously founded the Fusion Systems in 2005, in Shanghai. In 2013, Changpeng Zhao joined Blockchain.info to be the third member of the wallet team of the cryptocurrency. He has also worked at OKCoin as a CTO for about a year. OKCoin is a cash trading platform between digital assets and fiat and.
The company, Binance was founded in China, but after its servers and the head office were moved out of China and Japan before the Chinese government banned the cryptocurrency trade in Sept. 2017. The company had established some offices in Taiwan by March 2018. In January 2018, Binance was the largest encrypted exchange platform with a great market capitalization of the NBB worth $ 1.3 billion.
In August 2018, Binance and three other major exchanges raised $ 32 million for a certain stable coin project. This idea of stable coins is really to provide cryptocurrency with the absence of the notorious volatility of well-known digital assets or Bitcoin.
How advantageous is it to use the Binance Trading Bot?
Before using a product or service, you have to make you what they offer will tie with your personal desires and wants. That is why we are looking at the strong holds of the Binance Trading Bot.
" Strong Team: Led by Changpeng Zhao, The Binance Trading Bot team have experience in both wall-street and crypto finance. The team also have a reputation or track record of successful startups under the company's belt.
" Proven Products: The underlying Binance platform has been deployed on 30+ exchanges already. The platform supports all devices and has multiple languages, which offers an amazing user experience.
" Superior Technology: As seen in the preceding paragraphs, the matching engine (certified) of the platform is capable of processing 1,400,000 orders per second, making Binance one of the fastest exchange in the market today.
" Industry Resources: Binance has solid relationships with industry leaders. If you simply look at the list of investors and advisors who are willing to stand behind the platform, you will be amazed. Most of their partners have assets with Ethereum, Ethereum Classic, GoChain, POA Network, VeChain, Tron, Wanchain, Callisto, ICON, Bitcoin, Litecoin, Bitcoin Cash, TomoChain, etc.
" In the Binance Academy, there is a course entitled "Crypto. Made Simple". Here you are offered the possibility to learn blockchain and cryptocurrency on your schedule and completely free.
How to transfer Bitcoin to your Bittrex account from another platform?
Here we will explain how to perform Bittrex trading, transferring bitcoins into your e-wallet and How to Buy Bitcoin on Bittrex. However, it is important to mention that this operation is only possible for crypto-currencies available on the Bittrex platform.
" To begin, you will first need to create your account on the Bittrex website. Therefore, this part assumes that you have 1 at your disposal, and that it is provided in bitcoins on another platform of your choice.
" Thereafter, you will need to connect to Bittrex, then go into your wallet, by clicking in particular on the menu Wallet. Then you will need to click on the "+" icon to the left of the bitcoin. This maneuver allows you to note the address of your electronic wallet. You will need to enter this address in the window that will appear on your screen, under Bittrex. After this transaction, the amount transferred should appear in the "pending" column of your wallet. This simply means that the transfer is not instantaneous. However, you do not have to worry because the site is reliable.
" Before going there, you have to first of all buy Bitcoin/Ethereum. Make sure that you have already bought Bitcoin or ETH from your crypto exchange locality that accepts your currency. In the crypto world, Ether and Bitcoin are the biggest coins that are represented in local currency; Even buying the available 1,300+ altcoins requires the use of either BTC or ETH, and most often you cannot buy altcoins using your own local currency. A popular exchange might be Coinbase. Beginners easily use this, but it has relatively higher fees. On the other hand, you can look for Local Bitcoin- that is a peer-to-peer marketplace. Know more about Altcoin trading Bot.
" Now, with the transfer now complete, you will be able to use your bitcoins to invest in the altcoins available on Bittrex. However, be careful to indicate the address that will be provided by the platform, without making mistakes. In addition, it is not possible for you to transfer a currency other than the one that corresponds to the address you created. For example, you will not be able to make an ETH deposit on your BTC wallet. Ethereum can handle many more transactions than Bitcoin, which significantly speeds up transfer and confirmation times. On average, you usually wait for some minutes for your Ethereum transfer to process, but the Bitcoin transfers usually take hours. Moreover, transfer fees might be much lower with ETH than with BTC.
" Next step, you make a deposit of your base currency. You can presently deposit the BTC or ETH you purchased from your local switch into your new Bittrex account. You will now use the base currency to get the altcoins you want. Wondering how to deposit your coins on Bittrex? Please do follow these steps.
  1. Log in and click on Wallet in the upper right corner of the website.
  2. Find the wallet in which you will be depositing.
  3. Click on the arrow beside the wallet.
  4. Click on "new address" to generate your address.
  5. Be sure to read the deposit instructions if available. Some coins require the sending of a minimum amount before being credited. Some coins will require a memo / message / tag /payment. This means that you must send the coins to the certain address provided and attach this memo / message / tag / payment to the deposit area so that the coins can be routed or directed to your account. If you fail to attach this, you risk losing these funds.
  6. You can send your coins to the web address provided. Be sure to send only the same type of coins to the address. This means that if you have generated a BTC address, you drop BTC there and not another type of coin. If you deposit another type of coin, the address you generated may permanently lose these coins.
You will find more tips on How to Trade on Bittrex.
" The fourth step in performing an exchange on Bittrex is to choose the market in yourbase currency. There are 3 markets in Bittrex:
  1. Bitcoin Market
  2. Ethereum Markets
  3. USDT Markets
These markets are represented by the common base currencies used to purchase a wide variety of available altcoins. If you have deposited the BTC as the base currency, go to the Bitcoin market and choose an altcoin of your choice to buy using Bitcoin. If you instead deposited ETH, choose the altcoins of your choice on the Ethereum market. Note that the same rules might apply with Cryptocurrency Trade Bot.
" The fifth step is, you define Purchase Orders. Enter the details of your purchase orders in the "Buy" box under the trading section. It is not mandatory to buy exactly 1 unit of Cryptocurrency because they are very divisible. You can buy / sell all the amounts you want, depending on your budget. So you can even buy 0.000001 Bitcoin without worrying!
Assume you are selling Aragon and being paid in Bitcoin.
o Units: The amount / quantity of coins you're willing to buy. Here, the amount of Monero to buy is 2.50.
o Bid: The price you want to pay on a Monero unit. In this example, the price you are willing to pay for 1 Monero is 0.42100972.
o Type: This type consists of a called "limit" or "conditional" order. The "Limit" order defines the maximum price (as indicated in "Bid") that you are ready to buy. This ensures that you will not pay more than 0.42100972 ETH for 1 Monero.
o Total: The overall amount of the base currency (the ETH) that you will give up in exchange for the total number of altcoins you wish to purchase. Otherwise, this is the total cost of getting Monero in your reference currency, ETH.
" Last step: store all the coins in a wallet
The safest way to store your coins is to have your personal wallet. Although you automatically have a wallet when you open an Exchange account (wallet hosted by Exchange), you will not have control over the private and public keys. Having control of your keys means having control over your coins. The exchanges work as a bank; you trust a third party service provider for the security of your coins. But, there is a probability that the exchange will close or be pirated, leading in a loss of coins (typical example: Mount Gox exchange). Given the lack of regulatory frameworks on stock exchanges and cryptocurrencies as a whole, as well as the early childhood of the sector, the best way to protect your coins is to have total control over your coins. You can only have total control by having your personal wallet.
Additional information: Under the "Bid" price, there are 3 types of Offers:
o Last: Last price at which the last exchange took place
o Bid: The highest price that a buyer is willing to pay for the coin, which is considered the first order in the "Order Book" section under "Bid".
o Ask: The lowest price a seller will want to sell, the first order in the "Order Book" section, under "Ask".
If you had to create your own orders by entering the "Bid" amount, this will not apply to you.
Strong affiliates of Bittrex
With Bittrex, you will have the possibility to trade on one of the world's most active crypto exchanges. That is the Poloniex Trading Bot.
The USD Coin is now trading on Poloniex. To throw more light on this, USDC is a fully supportive US dollar stablecoin. USDC is the bridge between trading on cryptocurrency exchanges and dollars. It is possible to get the USDC using dolla
rs via the Circle web app and then transfer it into Poloniex. Plus, trading in ETH, BTC, and USDT pairs is now available, and new trading pairs will soon be added! But is it the best free crypto trading bot?
There are a lot of trading ideas and platforms online, but the one thing to note is that, there are a lot of risks in online trading in general. The crypto market is unstable and highly volatile; sometimes prices or values go up and other times, they do down. This happens all the time, and it is a matter of hours. The prices alternate every day and night, and so as humans, it is difficult to keep up with all the fluctuations. That is why is necessary to have Automated Cryptocurrency Trading on Poloniex. Poloniex is a very large exchange platform which provides a solid, reliable and secure space to exchange cryptocurrencies. A Poloniex trading bot is a mechanism to automatically trade on the Poloniex cryptocurrency exchange.
Digital currency trading that has been automated will save you both time and money. As Peter Cochrane once said, "The world is divided into two kinds of people, those who spend a great deal of time saving money, and those who spend a great deal of money saving time." Cryptocurrency exchanges on the Poloniex platform is a great deal for real-time results. The service is fashioned to automate trade on diverse cryptocurrency exchanges. It also has a user-friendly interface that will help create and configure trading bots.
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Selecting a Bittrex Trading Bot
There are some things to look for when a Bittrex trading bot. This is said because there might be imposters or unreliable systems who might pretend they offer Bittrex. So, here are the facts to look into to know the Best Bittrex Trading Bot. They are what makes the Bittrex platform unique.
" A good Bittrex trading bot is supposed to have a custom-built good trading engine. This engine should be designed as one that can be scalable and ensures that orders given are executed in real-time.
" We have spoken extensively on how Bittrex is more secured. But one thing not to leave out is the fact that it must have fast deposits and withdrawals. Here, we look at efficiency and how those working on the platform allow automated monitoring. This is generally to provide users with the fastest experience in transactions available nowadays. For this to be concrete, the platform does regular updates on trade, the balance and wallet information.
" Driving Innovation. Bittrex is also committed to supporting users of both new and established blockchains. In a bit to help drive innovation in the unbeatable blockchain industry, the Bittrex system provides its users with a growing selection of digital tokens and blockchain technologies. Also, a rigorous review process is done to all new digital tokens that are listed on the Bittrex trading platform.
" Bittrex is also committed to complying with all the current U.S. regulations that ensure the prevention, detection and remediation of unlawful behavior by some customers. The same commitment to compliance is force upon virtual currency developers when using the services of other companies or even the Bittrex trading platform.
Characteristics of the Bittrex Trading Platform
¢ Intellectual approach: The platform uses a built-in strategy to configure actions of bots. Bots will decide themselves when they can buy or sell your coins. And when you compare the decision taken by the platform, you will see that you would have either taken the same decisions or even taken more likely to fail decisions. Also get to know more about Bittrex bot github.
¢ Works with no limits: Since we are talking here about artificial intelligence, the number of trade bots are limited only by the number of cryptocurrency pairs on the exchange. But there are flexible settings that allow you to plan the necessary actions you need. Plus, there is the ability to be connected by the API.
Who should get into Trading Bots?
" Trading bots can help people ensure that they are always interacting with the market, even in times when they are physically or emotionally unable to do so. That is the beauty of using this artificial intelligence, but be sure to use the Best Crypto Trader Bot, so as not to get into the hands of fraudsters.
" They can also help remove some of the stress and emotions often found in financial markets, including the crypto market. Nonetheless, Trading bots are really not for everyone, and it is not everyone that needs them. Casual investors for instance are not the first target of trading bots and especially if your intention is just to buy and keep Bitcoins, then, trading bots are probably not the right investment for you.
" Moreover, if you are not familiar with creating real financial strategies or a competent programmer, then trading bots may not be for you, or learn more about Best Automated Crypto Trading Bot. However, if you have some knowledge on the issue with some ability to overcome these above obstacles, a trading bot can be a valuable tool to monitor and gain traction in the Bitcoin market.
As seen in this article, we have taken a tour to Trading Bot, Bittrex trading bot, Binance Trading Bot, we have taken a concrete example of having a transaction on Bittrex with BTC and ETH, and finally, how artificial intelligence could be more efficient than humans when it comes to trading online.
Bittrex Bots
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