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Here is how to play the altcoin game - for newbies & champs
I have been here for many previous altcoin seasons (2013,2017 etc) and wanted to share knowedle. It's a LOOONG article. The evaluation of altcoins (i.e not Bitcoin) is one of the most difficult and profitable exercises. Here I will outline my methodology and thinking but we have to take some things as a given. The first is that the whole market is going up or down with forces that we can't predict or control. Bitcoin is correlated with economic environments, money supply increases, safe havens such as Gold, hype and country regulations. This is an impossible mix to analyze and almost everyone fails at it. That's why you see people valuing Bitcoin from $100 to $500k frequently. Although I am bullish on the prospects of Bitcoin and decentralization and smart contract platforms, this is not the game I will be describing. I am talking about a game where you try to maximize your BTC holdings by investing in altcoins. We win this game even if we are at a loss in fiat currency value. To put it another way:
If you are not bullish in general on cryptocurrencies you have no place in investing or trading cryptocurrencies since it's always a losing proposition to trade in bubbles, a scientifically proven fact. If on the other hand you are then your goal is to grow your portfolio more than you would if holding BTC/ETH for example.
Bitcoin is the big boy
How the market works is not easily identifiable if you haven't graduated from the 2017 crypto university. When there is a bull market everything seems amazingly profitable and things keep going up outgrowing Bitcoin by orders of magnitude and you are a genius. The problem with this is that it only works while Bitcoin is going up a little bit or trades sideways. When it decides to move big then altcoins lose value both on the way up and on the way down. The second part is obvious and proven since all altcoins from 2017 are at a fraction of their BTC value (usually in the range of 80% or more down). Also, when BTC is making a big move upwards everyone exits altcoins to ride the wave. It is possible that the altcoin market behaves as an inversed leveraged ETF with leakage where in a certain period while Bitcoin starts at 10k and ends at 10k for example, altcoins have lost a lot of value because of the above things happening.
We are doing it anyway champ!
OK so we understand the risks and just wanna gambol with our money right? I get it. Why do that? Because finding the ideal scenario and period can be extremely profitable. In 2017 several altcoins went up 40x more than BTC. But again, if you don't chose wisely many of them have gone back to zero (the author has first hand experience in this!), they have been delisted and nobody remembers them. The actual mentality to have is very important and resembles poker and other speculative games: A certain altcoin can go up in value indefinitely but can only lose it's starting investment. Think about it. You either lose 1 metric or gain many many more. Now that sounds amazing but firstly as we said we have the goal to outperform our benchmark (BTC) and secondly that going up in value a lot means that the probability is quite low. There is this notion of Expected Value (EV) that poker players apply in these kind of situations and it goes like that. If you think that a certain coin has a probability let's say 10% to go up 10X and 90% probability it goes to zero it's an even bet. If you think that probability is 11% then it's a good bet, a profitable bet and you should take it. You get the point right? It's not that it can only go 10X or 0X, there is a whole range of probability outcomes that are too mathematical to explain here and it doesn't help so much because nobody can do such analysis with altcoins. See below on how we can approximate it.
How to evaluate altcoins
A range of different things to take into account outlined below will form our decision making. Not a single one of them should dictate 100% of our strategy.
It's all about market cap. Repeat after me. The price of a coin doesn't mean anything. Say it 10 times until you believe it. I can't remember how many times I had conversations with people that were comparing coins using their coin price instead of their market cap. To make this easy to get.
If I decide because the sky is blue to make my coin supply 100 Trillion FoolCoins with a price of $0.001 and there is another WiseCoin with a supply of 100 Million and price of $1 then FoolCoins are more expensive. - Alex Fin's Cap Law
This is done usually in the stock world and it means that each company has some fundamental value that includes it's assets, customers, growth prospects, sector prospects and leadership competence but mostly centered in financial measures such as P/E ratios etc. Valuation is a proper economic discipline by itself taught in universities. OK, now throw everything out of the window!. This kind of analysis is impossible in vague concepts and innovations that are currently cryptocurrencies. Ethereum was frequently priced at the fictional price of gas when all financial systems on earth run on the platform after decades (a bit of exaggeration here). No project is currently profitable enough to justify a valuation multiple that is usually equal to P/E in the thousands or more. As such we need to take other things into account. What I do is included in the list below:
Check Github. You need to make sure there is active development for the platform and it's a very bad sign if the project is either keeping the code closed source or even worse there is simply no development. No projects are "complete".
Check Website. If the website is written in bad English the Chinese google translate type it means that they are not serious enough to produce an unbreakable decentralized project. If you can't write English you can't change the world, period. That's a deal breaker.
Check Team's Linkedin. Numerous projects have either fake Linkedin accounts or the team is comprised mainly by unexperienced employees that are even shown to be working in other companies currently.
Check backers. Projects that have Binance, Coinbase or Silicon Valley VC funds backing them are way more legit but way more overpriced too!
One of my favorite ways to value altcoins that is based on the same principle in the stock market is to look at peers and decide what is the maximum cap it can grow to. As an example you take a second layer Ethereum solution that has an ICO and you want to decide if you will enter or not. You can take a look at other coins that are in the same business and compare their market caps. Thinking that your coin will outperform by a lot the top coins currently is overly optimistic so I usually take a lower valuation as a target price. If the initial offering is directly implying a valuation that is more than that then there is no room to grow according to my analysis and I skip it. Many times this has proven me wrong because it's a game theory problem where if many people think irrationally in a market it becomes a self-fulfilling prophecy. But since there is opportunity cost involved, in the long run, getting in initial offerings that have a lot of room to grow will pay off as a strategy.
In 2017 the sexiest sector was platforms and then coins including privacy ones. Platforms are obviously still a highly rated sector because everything is being built on them, but privacy is not as hot as it used to be. In 2018 DEXes were all they hype but still people are massively using centralized exchanges. In 2020 Defi is the hottest sector and it includes platforms, oracles and Defi projects. What I am saying is that a project gets extra points if it's a Defi one in 2020 and minus points if it's a payment system that will conquer the world as it was in 2017 because that's old news. This is closely related to the next section.
Needless to say that the crypto market is a worse FOMO type of inexperienced trigger happy yolo investors , much worse than the Robinhood crowd that drove a bankrupt company's stock 1200% after they declared bankruptcy. The result is that there are numerous projects that are basically either vaporware or just so overhyped that their valuation has no connection to reality. Should we avoid those kind of projects? No and I will explain why. There are many very good technically projects that had zero hype potential due to incompetent marketing departments that made them tank. An example (without shilling because I sold out a while back) is Quantum Resistant Ledger. This project has amazing quantum resistant blockchain, the only one running now, has a platform that people can build tokens and messaging systems and other magnificent stuff. Just check how they fared up to now and you will get the point. A project *needs* to have a hype factor because you cannot judge it as normal stocks that you can do value investing like Warren Buffet does where a company will inevitable post sales and profitability numbers and investors will get dividends. Actually the last sentence is the most important: No dividends. Even projects that give you tokens or coins as dividends are not real dividends because if the coin tanks the value of the dividend tanks. This is NOT the case with company stocks where you get dollars even if the company stock tanks. All that being said, I would advice against betting on projects that have a lot of hype but little substance (but that should be obvious!).
How to construct your portfolio
My strategy and philosophy in investing is that risk should be proportional to investment capital. That means that if you are investing 100K in the crypto market your portfolio should be very different than someone investing 1K because 10% annual gains are nothing in the latter while they are very significant in the former. Starting from this principle each individual needs to construct a portfolio according to how much risk he wants to take. I will emphasize two important concepts that play well with what I said. In the first instance of a big portfolio you should concentrate on this mantra: "Diversification is the only free meal in finance". In the case of a small portfolio then this mantra is more important: "Concentrate to create wealth, diversify to maintain wealth". Usually in a big portfolio you would want to hold some big coins such as BTC and ETH to weather the ups and downs explained in previous paragraphs while generating profits and keep progressively smaller parts of your portfolio for riskier investments. Maybe 50% of this portfolio could be big caps and 10% very risky initial offerings. Adapting risk progressively to smaller portfolios makes sense but I think it would be irrational to keep more than 30% of a portfolio no matter what tied to one coin due to the very high risk of bankruptcy.
The altseason is supposedly coming every 3 months. Truth is that nobody can predict it but altcoins can be profitable no matter what. Forget about maximalists who are stuck in their dogmas. Altcoins deliver different value propositions and it makes sense because we are very far from a situation where some project offers everything like Amazon and we wouldn't even want that in the first place since we are talking about decentralization and not a winner takes all and becomes a monster kind of scenario! Some last minute advice:
Stay out of paid telegram/discord pump groups. They are deadly for your wallet.
Avoid jumping on overhyped coins that have pumped massively during the last days without any very important news.
Don't keep coins in obscure exchanges for too long or you will get burned with certainty.
Stop thinking that your coin will 1000x and overtake Bitcoin!
P.S If you find value in reading this and want more weekly consider subscribing to my newsletterhere
The choice of the optimalways to buy Bitcoindepends on three factors: how much information you want to disclose, what is the amount of the transaction and what level of security you require. However, it is almost impossible to comply with all 3 factors. So,what is the best way to buy Bitcoin?
1. Stock exchange
The best way to buycrypto is to use an exchange (Binance, Coinbase Pro, Huobi Global), where one can sell and buy digital currency from other investors. The price is set manually. In this case, the commission charged by the intermediary will not exceed 1%. The exchange provides anonymity since you don’t need to provide your ID in most exchanges. There are several options for transactions:
Quick deal – immediate purchase or sale of currency from another exchange user;
Offer – the seller determines the conditions under which the transaction should be arranged, and the buyer can either agree with the conditions or refuse to buy from this seller;
Automatic order – the system completes the transaction when conditions are fulfilled (provided that you have the funds necessary to fulfill).
If you want to know how to begin investing in Bitcoin, start studying stock exchanges.
Fair rates. You buy Bitcoin, not at the rate that the exchanger came up with, but at the real market rate, which is constantly changing;
Safety. Trusted, reliable exchanges do not cheat. The trust of users is important to them since they earn a commission from trading;
Multicurrency. You can exchange fiat for Bitcoin, buy any other coins available, and withdraw them to your wallet.
Registration needed. Almost all exchanges require registration and request minimal personal data;
Safety. New exchanges without valuable reputation are sometimes hacked. History knows cases when the administration of exchanges defrauded users and walked off into the sunset. For example, the case of BTC-E (WEX.NZ). This is extremely rare and, as a rule, does not apply to large reliable sites. It is best not to store cryptocurrency on exchanges for the long term and to check all the information about exchanges carefully.
A crypto exchanger (Localbitcoins, Lykke, F-change) allows exchanging fiat or other tokens for BTC according to a fixed rate. It is probably the easiest way to buy crypto. The service adds a commission higher than that on the stock exchange.
Simple interface. Even a beginner will understand it;
The ability to buy Bitcoin for almost any existing currency in the world;
Anonymity. Although it depends on the exchanger and payment method, many exchangers are not interested in your personal data.
Slow speed. Sometimes the exchange may freeze for several hours;
Exchange rate. As a rule, in exchangers, the rate is not the most profitable one. It differs from the mid-market not in your favor;
Anonymity. Sometimes there were cases when exchangers leaked information about customers not to authorities, but other interested parties;
Chance of fraud. Especially, if you use an unknown site.
3. ATMs for BTC
ATMs for Bitcoins only enter the market. It is enough to have the necessary amount of cash to be able to exchange it for the equivalent in BTC. Such a transaction is instant and does not require registration or other formalities. There are now over 8500 BTC ATMs around the world.
4. For cash with individuals
A hand-to-hand sale is the most private and most insecure way to buy cryptocurrency. It is lucky if you know reliable miners or crypto businessmen. Rent, salary, taxes – all this requires ordinary money, so they constantly have a need to sell mined or earned cryptocurrency. Pros – maximum anonymity of transactions. Cons – risks from dishonest partners.
5. Telegram bots
Telegram bot is an automatic script based on the search for offers and counteroffers. If someone wants to sell BTC, they send a request to the bot and it looks for a counter offer. As soon as someone sends a request for the purchase of Bitcoin, the bot will complete a transaction between these two users.
Speed. Exchange occurs instantly. This is probably the fastest way to trade Bitcoin.
Low security. A bot can stop working unexpectedly, money can be “lost", etc. It is very difficult to bring the service to justice if something goes wrong, and you rely entirely on the decency of the bot owners;
Inconvenient BTC rate. No bidding. You are forced to work at the rate that the service states.
While talking about the ways to buy Bitcoin, it is important to mention that this article doesn’t provide any advice and directions regarding the investments in particular cryptocurrencies and pursues only informative purposes.
Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging atGenesis Block. https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player This is the third post ofCrypto-Powered— a new series that examines what it means forGenesis Blockto be a digital bank that’s powered by crypto, blockchain, and decentralized protocols. Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series. 97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit. So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.
Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility. There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
USDC($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid. Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens. Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive. The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments. Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol. Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery. Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur. And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio. With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong. Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k. There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols. Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth. https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943 There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers. Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound. There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto). Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times. The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW! Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized). Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum). In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.” https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8 When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be. We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
--- None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block. So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions. To look at more projects in DeFi, check outDeFi Prime,DeFi Pulse, orConsensys. ------ Other Ways to Consume Today's Episode:
Weekly Update: Jason starts #discussionThursday, $COTI on Binance, WibsonTree, Harmony + IBC Media... – 21 Feb - 27 Feb'20
Hiya folks! With this update we will finally be 100% caught up with the latest. Let’s go! Here’s your week at Parachute + partners (21 Feb - 27 Feb'20): As mentioned 2 weeks back, Alexis announced the start of a new style of raffle from this week. 300k $PAR in the pot to be won! Bose hosted a Friday Quiz in TTR on movies with a 10k $PAR prize pool. Cap shared a unique bit of trivia from the tipbotverse: ChangeTip, a bitcoin tipbot launched 7 years back, was acquired by Airbnb in 2016 that led to its closure. A crypto pioneer that was way ahead of its time. The usual suspects continue to be on top of the Fantasy Premier Leagure (#FPL) leaderboard – LordHades, Alexis and Novelcloud as per the latest update shared by LH. Alejandro hosted a gun-mode CoD game in the Parachute War Zone followed by a free-for-all for $PAR prizes. Tavo announced another CoD Battle Royale in the Parachute War Zone to be held next week. Afful’s TTR trivia was fun as always. Charlotte hosted another trivia in TTR as well for a 10k $PAR prize pool. Victor held one in TTR with another 10k $PAR pot as well. GamerBoy’s trivia in TTR this week was based on Kindergarten Geography. Haha! Belated Birthday wishes to Victor. Two-for-Tuesdays by Gian for this week had the theme rap/reggae/reggaeton. Like last week, Sebastian set up a YouTube playlist to compile all the entries. For #wholesomewed, Parachuters put on their creative hats as they made some epic artwork based on a primary shape shared by Jason. So much talent! There’s $PAR to be won! In the latest project update shared by Cap, ParJar is in final stages of testing with Transak, ParJar integrated coin-swaps are being worked on at the moment and $PAR-based Dex to be launched in the coming weeks in partnership with Switch. Jason launched a new event for Thursdays called #discussionThursday from this week. The first discussion series revolved around "something you don't understand". The goal is "hopefully someone that does understand it can explain it". Good conversations and altruism gets $PAR tips. TTR crew hosted a fun “guess the admin” contest based on the Parachute Christmas artwork. Lmao Victor! Happy Carnival to you too Rene Just a sampling from all the #wholesomewed entries 20k $AXPR was burned as part of the weekly aXpire burn event. aXpire COO Matthew Markham wrote about how technological differentiators give PEs an edge over public markets. The latest Bilr blog post talks about disruptive technologies in the legal industry. 2gether CEO Ramon Ferraz appeared in an IEB podcast to talk about Neobanks. YouTuber FunOntheRide’s latest video covers collaborative economy and how 2gether plays a role in it. Head of Marketing, Laura Braulio explained must-do’s in marketing strategies for fintechs in her article which was published on ClickZ. The XIO DApp went into the final stages of unit testing this week. Beta tests should start soon. For #XIOSocial chatter, Citizens discussed the semantics of the term “crowdstaking”. Ethos’ parent company Voyager released the full Android version of its app this week. Switch-backed McAfeeDex is slated for some updates soon. Read about what’s coming up from John McAfee’s tweet. Plus, a new privacy coin “ghost” is on the horizon. $ESH holders are expected to get a taste of it on launch. For the latest update on Switch, click here. Fantom’s $FTM was one of the winners of a public vote to get listed on ZelCore. As an update to the fantom.rocks tool released last week by GoFantom (a Fantom validator), this week a dApp named Supercharge was released on top of it. Supercharge allows users to send 20 test transactions to demonstrate the speed of consensus. The DAO Maker shared a compilation of Fantom’s 2019 updates. For the 2020 project plan, click here. This was followed by a detailed 2020 roadmap. Too long? No sweat! This graphical representation of the roadmap by Generation Crypto is here to rescue you. Or, if you would rather watch a video, CMO Michael Chen made one. For notes, click here. The first version of Uptrennd’s mobile redesign is here. Congratulations to TREOS for winning the Round 1 of the Uptrennd free advertising package contest that launched last week. Voting for Round 2 started this week with Fantom included in this round. Banano ended up winning the second round and going head to head with TREOS in the finals. The first 2UP Tuesday kicked off this week with every upvote counting for twice the normal points (with the same rules applying for downvotes). Sweet! Uptrennd founder Jeff Kirdeikis was invited to speak at the EntrepreneurShip cruise event. Don’t forget the epic giveaway mentioned. First sneak peek of Uptrennd’s new mobile design Catch up on Distric0x’s Weekly update here. If you missed the DappDigest, the crew’s got your back. Their video walkthrough of ETHDenver covers snippets from the event along with Brady’s on-stage performance and an interview of Dmitry Buterin (Vitalik Buterin’s father). Read about how the recent fintech M&A deals will influence markets in this article by Hydrogen. The team sat down for an AMA with Crypto Cabital this week and also hosted a 150k $HYDRO giveaway. Fintech nerds, check out Hydro’s explainer blog post on open banking and WSO2. Is the project ticking off its roadmap items on time? Click here to find out. As a 2020 cohort member of the MassChallenge Fintech accelerator, Hydro’s Senior Director for Strategic Partnerships, Ken Kavanaugh travelled to Boston to talk about “platformication in fintech” at their meetup. If you are attending the Milwaukee Blockchain Conference in March, don’t forget to say Hi to Biz Dev Lead Mark Anstead where he will be a featured speaker. If you haven’t booked your tickets yet, there’s a 50% discount coupon available for you. $HYDRO got listed on DeFi aggregator Totle this week. How does Sentivate aim to solve HTTP / TCP bottlenecks? Click here to find out. For a primer on UDSP, click here. The Mycro Hunter landing page went live this week. OST’s Pepo is the official community app and partner of Europe-based Ethereum Community Conference (EthCC) where it will also be collaborating with Epicenter podcast for the event. The first browser version of Pepo was released. Crypto exchange Mine Digital will be joining SelfKey’s exchange marketplace. SelfKey’s R&D team shared a 2020 update on the identity management space and how the project aims to place itself in this segment. Early preview of the SelfKey Mobile Wallet to be submitted to App Store for review For the latest Constellation community update, click here. Don’t forget to send in your questions for the AMA happening next week. Attendees of VeneCoiners meetup in Argentina next week, don’t forget to say Hi to the crew from Wibson who will be presenting the Rewards Marketplace at the event. The team also published a paper on “WibsonTree” which preserves data privacy when interacting with an agent. They hosted an Ethereum meetup this week to discuss DeFi. Here’s a video demo of how fast the Harmony mainnet is. The weekly #pow tweet thread summarises updates from across the team. KuCoin’s $ONE token swap is now complete. A new page was launched to monitor mainnet and testnet status. The crew attended a Binance meetup in Ukraine to talk about latest project updates. Harmony announced a partnership with IBC Media to incubate and accelerate Indian fintech startups. Safe Haven’s digital inheritance solution, Inheriti, will be available on the Harmony chain. $ONE was listed on MathWallet. Intellishare co-founder Nicholas Wan shared a sneak peek of the testnet mobile UI. dGen listed GET Protocol’s GUTS Tickets as one of the notable startups in the Dutch blockchain space in their Blockchain in Europe 2020 Review report. For a project overview click here – nicely summarised by Generation Crypto. GUTS will be ticketing 3 new shows of Chef’Special. Global Crypto Alliance live streamed another demo of its IoT prototype smartlock device being operated through $CALL tokens. The team also hosted a fun quiz on their Telegram this week. YouTuber Crypto Rich interviewed the crew on all things $CALL (Part I, Part II). Nik Patel’s detailed research report on COTI was published this week. $COTI was added to the Staking Rewards platform. And here’s a biggie, Binance listed both the ERC20 and BEP2 versions of the token this week with a bonus airdrop for deposits. Woot! Before the listing frenzy started, the team took a moment to take stock of the situation. A big listing like Binance leads to a lot of new eyeballs that could trigger scams. COTI crew shared their anti-scam guide for this reason. DOMSCRYPTO covered the project in their latest video. DoYourTip was covered in an iHODL news feature. And with that, we close for this week at Parachute. See you again with another update. Ciao!
A new Nano trade exchange was launched a couple of days ago - Here's why anyone who remembers Bitgrail should be be very afraid
This is mostly a duplicate of my summarised responses to that exchange's original announcement threads here and in/nanotrade**.** The owners of that new exchange are welcome to downvote this new posting of mine, but everyone else can make their own decision about whether to upvote this for posterity's benefit, so that my post gets found in months to come (given that Reddit's search engine is really bad at searching comments.) Here's what's dodgy about this exchange, and why anyone who remembers BitGrail should be very afraid: I emphasise that I'm not saying this is a scam. But I am saying it looks like what a scam website would look like andappearsto be operating illegally under UK law: * The domain NanoTrade.co.uk was registered only two days (one working day) before the site went live - meaning it only could have been tested very briefly, (Edit: and could not have been secured against accidentally being taken by another person, which implies incredible lack of planning) * The domain was registered by NameCheap, with an obscured registrant * The site was not pre-announced on /Nano Currency nor /NanoTrade * The site was announced first on /nanotrade (6k subscribers), but only announced here on /nanocurrency (44k subscribers) three days later, demonstrating a lack of knowledge of Nano relative subscribers * The announcer Paradise2GE claimed Google and Facebook Ads existed prelaunch - but no one of you here saw them because you would have excitedly told us if you had * No such advertising for the site was noted by me, yet I would have been a key target for it * Since the domain was not registered, such advertising could not have included, say, a [[email protected]](mailto:[email protected]) mail form, which is incompetent in itself * Nano Associates Limited was registered with Companies House on 2018-02-28 (as company number 11229688) - to a London mail-forwarding company's central London address (a postcode with 11,000 companies registered at the same address) * Its sole Director 'Orlando Carugo' has no Google history of being associated with Nano, Cryptocurrency, or finance at all * Orlando Carugo's profession is listed as 'Sales Director' * The Google and LinkedIn history of an UK-based 'Orlando Carugo' (a sales professional) can be found, with no reference to cryptocurrency but with references to being willing to work for stock options or commission * The announcement on /NanoTrade was made by Paradise2GE - an account with a few questions on Bitcoin two years ago, a single comment one year ago, then absolutely nothing until this weekend. * We know nothing of the overall reputation of the company owners * The company uses a payment processor https://en.bitcoin.it/wiki/VirWoX which has a daily limit on PayPal withdrawals of 2500EUR. The NanoTrade website however states that up to 90,000 Nano can be sold per PayPal transaction. It seems impossible to reconcile this for me. If 90,000 Nano is sold to PayPal, when would the seller get their money? * If the answer is that such payments cannot be made, when were the company planning to tell the sellers? * On being asked on /Nanotrade, Paradise2GE has avoided answering this question in their dissembling answers * The company is not registered by the FCA * The company is not registered by HMRC as a money service * It is a legal requirement for UK based companies to register as money services. * It is not a get-out to just deal in USD and not GDP, yet Patadise2GE has attempted to use that get-out in their answers * Paradise2GE has dissembled when answering questions as to why Nano Associates is not registered with FCA or HMRC * Paradise2GE claimed 1000 trades on their first day... for an unannounced site...purely from a posting that had around 40 up votes at the time. It's a lie. Not even Nanex gets that many trades on a good day. * Given a supposed 1000 trades in a day, 1440 minutes in a day, and 25% of Nano staked on Binance, we should expect to see >5Nano transactions coming out of the Binance hot wallet at least every 10 minutes or so. I don't see those * The site works poorly on Android, showing a lack of technical skill in its developers * The announcement of the exchange on /nanocurrency was by SMcArthurs - a one year old account, with very few postings, and no history in the /nanocurrency or /nanotrade subs * Someone downvoted my reasonable questions on /nanotrade. I can think of only one person who would want to do that, if malicious * Someone downvoted someone thanking me for my questions on /nanotrade. I can think of only one person who would want to do that, if malicious * User astricali has posted at 2018-12-03 05:00GMT that they made a successful sale of 999.99 Nano. I performed a text extraction of the posted image address, which they were apparently instructed to send to, but I notice that although that address indeed Received a 999.99 amount from the Binance Representative at 2018-12-04 02:17:01 (Timezone unknown), the address has never actuallyPocketed 999.99 Nano - the payment is still Pending.This is odd, since once might expect an efficient provider to pocket the Nano they receive asap, to sell it on the markets * The address has however received a range of 8 payments ranging from 1.99 Nano to 1,847.99 Nano. That surprises me, because I would expect a payment provider to use a unique address for each received payment. * The address has only ever sent a payment once, to KuCoin, on an unknown date before 2018-07-25 * Paradise2GE and SMcArthurs have been extremely quiet in response to these complaints levelled against their site * Edit: Why would they be selling Nano at 1.00 USD at the moment when Nano is on Binance at 0.94? * Edit: Seeing 403 Forbidden error 2018-12-05 23:38GMT * Edit: Don't even get me started on the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations Regulations 2017 * Edit: It's 12 days later - 18-Dec-2018. The 999 Nano still hasn't been pocketed at address. In 12 days neither promoter has denied that's it's their account. They are therefore probably incompetent even if non-malicious. * Also noticed something I should have picked up before: That address is Represented by Nanowallet.io - which means it's probably an account created on Nanowallet.io. Any 'real' exchange would need, at the very minimum, to run it's own node so that it can be online 24/7 - and if so would most likely Represent itself. Specifically choosing Nanowallet.io as their Representative after installing a full node would be an odd decision, given that they could help decentralize. 'm at way over 22 red flags here. I hope I save someone.
Exchanges The best way to support XRP is to buy/sell XRP directly with your local currency, not with USDT, ETH, LTC, or BTC. Available XRP pairs - AUD, BRL, CAD, CNY, EUR, GBP, IDR, INR, JPY, KRW, MXN, PHP, RUB, THB, TRY, UAH, USD, ZAR. You can find the complete list of XRP exchanges and supported XRP/fiat pairs Here.
Exchanges The best way to support XRP is to buy/sell XRP directly with your local currency, not with USDT, ETH, LTC, or BTC. Available XRP pairs - AUD, BRL, CAD, CNY, EUR, GBP, IDR, INR, JPY, KRW, MXN, PHP, RUB, THB, TRY, UAH, USD, ZAR. You can find the complete list of XRP exchanges and supported XRP/fiat pairs Here.
As Bitcoin Gold Jumps 50%+ in one day, time to ask... what is Coinbase doing with all those fork funds they've not supported?
Today Bitcoin Gold (BTG) has a MC of $2,630,984,532, each are worth $156.47. In the past 24hrs the price has outperformed most jumping almost 50%+. BTG hard forked from Bitcoin on 24 October 2017, and has survived for months now. Here was the Coinbase official stance on the matter from last year: https://support.coinbase.com/customeportal/articles/2892196-bitcoin-gold-faq You can see a list of all the major exchanges and wallets that have now implemented support for BTG here which include Bitfinex, Binance, Shapeshift, Ledger, Trezor etc https://bitcoingold.org GDAX Coinbase's exchange is still tagged as "future". Todays spike is a strange one as there has been a fair amount of community cynicism over BTG in the past. Some of the controversies outlined on its wiki included post-mining, bonus taking, secret mining code and wallet hacks. https://en.m.wikipedia.org/wiki/Bitcoin_Gold That said when you think about the amount of money being retained by large exchanges such as coinbase from all the forks such as BTG, it ptobably eclipses anything BTG has done value wise. In fact BTG has probably posted more updates than Coinbase on the BTG funds they're holding. The obvious reminder is always retain your private keys yourself, keep them in a hard wallet away from the exchanges or you'll always run the risk of not being able to benifit frim the growing number of hard forks. That said, I think many newcomers, particularly using gateway exchanges to buy gateway crypto's have just got to grips with concept of Crypto and buying it. I can understand how then buying hardware wallets and transferring crypto to them could be a daunting task. I think for those people, maybe lured in to crypto with the likes of Coinbase referral programs really deserve to get at least regular updates from exchanges that are not supporting forks... how, where, why and when. Also this doesn't include Airdrops where new ICO cryptos are distributed relative to someones holdings of another Crypto such as Bitcoin or Ethereum... again Exchange hodlers are missing out. Companies and stock brokers need to keep investors updated when issuing dividends to shareholders, That helps investors to make the educated decision whither or not to keep their money in invested in that company or not for the longterm. Exchanges should be doing the same for forked funds. I think with ever new fork that emerges Coinbase are setting themselves up for future legal challenge of somesort, forcing them to go back and support/ distribute all the forked funds they are holding. This was evident in the case of Bitcoin Cash as it was only rumors of legal action against them that really seemed to get them to up their game. This is a the risky cloud that will hang over them, particularly when going out for more rounds of funding their growth, as it's a big question mark future risk investors. They need to be proactive addressing forked funds, instead of just bottling up a future storm by ignoring them. All in all forks aren't really Coinbase's fault, but their lack of updates are. They have warned people just to take their crypto off the exchange in the past, but when at the same time as they are priding themselves on and encouraging the sign ups of newcomers that maybe aren't as technically minded I don't think this is enough?
The level of Monero anonymity is sometimes questioned, in particular, Edward Snowden called it "amateur cryptocurrency." At the time of writing, Monero is ranked 11th by the capitalization in Coinmarketcap.com How does it work? Monero is mostly an open source software that uses the principle of proof-of-work. But unlike Bitcoin, Monero emission is not limited. That's why the developers did it so that the miners would ensure the system's operation even after the emission was completed. https://i.redd.it/nzcpy6u3cpi11.gif The developers of Monero have made a lot of efforts to make their cryptocurrency secure. To achieve a high result, special measures were taken:
Use of "Annular signatures". This technology allows you to "shuffle" all the public keys, thus eliminating the possibility of identifying any of the participants in the system.
Monero uses a unique protocol that creates one-time addresses. This allows you to hide information about the payee, the balance of his account and so on.
Protection against hacking. Cryptographic algorithms ensure the security of electronic cash stored in user wallets.
Due to CryptoNote and the obfuscation added to the protocol, passive mixing is provided: all transactions in the system are anonymous, and all participants in the system can use plausible negation in the event if they are being captured. Dirty Monero? Among the miners, it’s in high demand, due to anonymity for mining on other people's computers and servers. Recently, there have been more cases when Monero was noticed in the code of many viruses. The power of many computers around the world is used to extract this particular cryptocurrency, in particular, this happened last year in London, where scammers used the hacked government servers for mining. Also Monero, right along with Bitcoin, Zcash and Dash is the most used cryptocurrency in Darknet. A particularly favored method of money laundering is the so-called "mixer". The principle of its work is that the money received illegally is sent to the exchange where Bitcoin coins are purchased, for which the Monero tokens are then purchased and then the attacker can safely transfer to any stock exchange, to a pre-established account and receive money in any form convenient for him. Advantages of Monero
Absolute decentralization. Without any control, including financial organizations (banks and etc);
The anonymity of transactions;
Constant growth and trust;
The presence of his own personal wallet.
Disadvantages of Monero
The size of one transaction in Monero is more significant than in Bitcoin;
The anonymity of transactions began to challenge experts working on the development of other cryptocurrencies.
ProfitTrading app is the best trading app for Android. It's available for the most important exchanges. This is not an official app, and doesn't pretend to be. It's an app that uses exchanges APIs to create amazing features that they don't offer. So with ProfitTrading you have more features than with the exchanges official apps (if they do have an app). It's one of the most downloaded and used apps on GooglePlay for almost all exchanges (after the official ones). You can check any of our apps, like our successful Binance app, with more than 400 ratings and more than 30000 downloads.
What are the free features of ProfitTrading App?
BUY AND SELL CLIENT
Buy and sell any currency in Bitcoins with a quick and easy to use interface. Designed to make trading easy. Buy and sell Bitcoin (BTC) with USDT, ETH, or any market available in the exchange.
A full list of all the currencies in your wallet with their BTC and FIAT equivalences and the total Bitcoin amount. The best place to control your cryptocurrencies.
CHECK OPEN AND CLOSED ORDERS
A complete list of all your open and closed orders, with creation and filled date.
Full chart of each coin, with prices and volume history with time range customization. This is a must tool for trading. You can also track BTC realtime chart.
Manage your hodl signals and track your benefits, coin buy price, amount, coin last value, signal date and coin increment. Add signals directly from your bought orders in Orders section or place them manually with the coin selector. Every signal has a direct access to its detailed chart.
Check the trending markets with most benefits in last 24h. Order them by increment, price or name.
What are the premium features of ProfitTrading App?
TRADING BOT FEATURE
Get profits with conditional orders using TradingBot. Configure the market, the coin and the buying and selling prices and let the bot place the orders for you, so you just have to wait and get your profits. Place an optional stoploss to be able to control unfavorable market conditions. Get the ability to trade with coins that you don't even own yet!. Now with Trailing Stop orders! https://preview.redd.it/vjoem3avnc221.png?width=526&format=png&auto=webp&s=29939c62efa5868c21b1fefbae69cce1528d805f This is used to get money from the fluctuation of a coin. There are many coins that go up and down many times a day. Let's see it with an example: Imagine LTC is getting that behavior, lets say it's price is 0,0184 but is fluctuating from 0,0175 to 0,0185 several times. To get profit creating the orders by yourself, you will have to do the following:
Create a BUY order for 0,0175.
Wait until this order is filled. You should have to check by yourself several times if the BUY order is filled.
Once the order is filled, place a SELL order for 0,0185.
Wait for the sell order to be filled.
With the trading bot, you configure a BUY order for 0,0175 and a SELL order for 0,0185 and don't do anything else. It's important to say that the bot lets you create a SELL order with coins that you don't even own yet (as you haven't purchased it at the start of the process). So you can configure it and go to sleep or whatever without you have to enter several times to check your BUY order have been filled to place the SELL order. The bot also works with the app closed. Apart from this you can also configure a Stop Loss option to limit your loses if the market goes against you. Even you can skip the first step if you only want to place a sell at profit with stop loss TRADING BOT OPERATIONS EXAMPLES These are some of the operations you can configure with the bots, possibilities are infinite! You can create up to 25 concurrent bots. BUY OPERATION By default, BUY operations will be associated with <= symbol. That means: "When price reaches <= TRIGGER PRICE, place a BUY order with BUY PRICE for the defined amount of coin UNITS" It's recommended to place a BUY PRICE a little higher than TRIGGER PRICE to ensure BUY order is filled. You can also choose the trigger symbol between <= or >= SELL OPERATION By default, SELL operations will be associated with >= symbol. That means: "When price reaches >= TRIGGER PRICE, place a SELL order with SELL PRICE for the defined amount of coin UNITS" It's recommended to place a SELL PRICE a little lower than TRIGGER PRICE to ensure SELL order is filled. You can also choose the trigger symbol between <= or >= SPLIT SELLS You can configure split sells by adding consecutive SELL operations to your bot, so you can get a better chance to sell your coins. CONCATENATE OPERATIONS After you configured your first operation, you can keep adding more operations to your bot. Below the units label, you will see two separated quantities. The first one is the currency amount of the coin you own right now, the second one is the currency amount you will add after first operation (if it was a buy). https://preview.redd.it/sqpqmyqkoc221.png?width=509&format=png&auto=webp&s=aabc60de2f03533185255cf55bcb372d111cfc5b STOP LOSS You can also configure a STOP LOSS operation to be safe if the market goes against you. A STOP LOSS operation should always be added after a SELL operation. Select the trigger price you want the STOP LOSS order be created. If the coin price reaches that trigger price, a SELL order will be created with the following price: BID price (at the moment when STOP LOSS is triggered) x MULT value. Mult value is useful to ensure your order is filled if the price is changing very fast. Recommended value is 0.95 BUY STOP
As opposite of STOP LOSS operation, you can also configure a BUY STOP operation to be safe if the market goes against you (if you thought the market was dropping but it rises). A BUY STOP operation should always be added after a BUY operation.
Select the trigger price you want the BUY STOP order be created. If the coin price reaches that trigger price, a BUY order will be created with the following price: ASK price (at the moment when BUY STOP is triggered) x MULT value. Mult value is useful to ensure your order is filled if the price is changing very fast. Recommended value is 1.05 Trading bots with stop loss operations
TRADING BOT EXTENSION PACK
TRAILING STOP Get most benefit from BTC and altcoins fluctuation with Trailing Stop. This is probably the most powerful order type to get benefits. A sell trailing stop order sets the stop price at a fixed amount below the market price with an attached "trailing" amount. As the market price rises, the stop price rises by the trail amount, but if the stock price falls, the stop loss price doesn't change, and a market order is submitted when the stop price is hit. This technique is designed to allow an investor to specify a limit on the maximum possible loss, without setting a limit on the maximum possible gain. Trailing Stop Configuration Configure trailing stop order by defining the following settings: TRIGGER PRICE: Defines the trigger price when the order will start trailing. From here sell order will increase it's price if coin price gets high. STOP OFFSET: Defines the percentage the market price should fall to place the sell order. This step starts checking that percentage once the trigger price has ben reached MULT: Helps you ensure the sell order is filled as it will be a limit order (not a market order). The SELL order will be created with the following price: BID price (at the moment when SELL ORDER is triggered) x MULT value. As said before, mult value is useful to ensure your order is filled if the price is falling very fast. Recommended value is 0.9 UNITS: Defines the units of the coin to be sold Get more info about trailing stop orders here: https://en.wikipedia.org/wiki/Order\_(exchange)#Trailing\_stop\_order After you configure the Trailing Stop operation you can check the bot status. Including the top price reached and the current down percentage from top reached. AUTO RESTART BOT With this feature, you can set the bot to restart when it finishes with profits and without a stop order. This way you don't need to worry about checking if all orders are filled to restart it. And you can take full advantage on BTC and altcoins high fluctuation. Configure it once and start getting profits. Note that as said, it will only restart if last iteration finished with profits and without a stop order. The application also shows you a resume of all times the bot have successfully completed (cycles). You can check the total profit and the number of times it has completed. You can also see the detail of each completed bot iteration. FILLED ORDERS NOTIFICATIONS You can configure the bot to receive notifications when an order is filled or when the bot is completed. You will receive a push notification in your device when an operation is filled including info about the operation.You will also receive a push notification when all operations are finished, including the profit you made.
SIGNAL BOT FEATURE
Designed to make money in pump events, just write the coin, buy and sell really quickly with the signal bot. Take advantage from others buying when the price is still rising. You will love trading with this app. Once you placed the order, the app tells you if it was filled or not. It also prints the current price of the coin in Bitcoin, updating it constantly so you can sell it when it reaches the price you want. Sell orders are also placed with the same speed as buy orders, so you can take advantage to others at your exchange. The bot is fully customizable, you can configure the Bitcoin (BTC) amount to spend and the buy/sell price increment you want to offer from the current coin price. You can also configure if you want to autocancel a non-filled order or not. Signal bot (designed for pump events) Awesome features included in SignalBot: + Auto StopLoss + Auto TakeProfit + Configure the amount of units you want to sell + Possibility of canceling orders on SignalBot screen + Autocheck for filled orders + Percentage of profit trailer included Bot basic configuration:
SET THE BTC BUY AMOUNT Introduce the amount of BTC you want to spend in the buy order.
SET THE BUY MULTIPLIER This is a way to ensure your orders are filled. Establishes the max price you want to pay for a coin. It's calculated this way: Max price to pay: ASK x BUY MULTIPLIER
SET THE SELL MULTIPLIER Same way as buy multiplier, this is a way to ensure your sell orders are filled. Establishes the max price you want to pay for a coin. It's calculated this way: Min price to sell: BID x SELL MULTIPLIER
SET THE SELL UNITS Set the amount of units of a coin you want the bot to place in the sell order.
How do I configure my API Keys?
Each of our apps have a step by step tutorial that shows how to generate it. You can find it at Settings screen by pressing "GET API KEYS"
Why should I trust ProfitTrading App?
We are aware of all scam that involves cryptocurrencies, specially with some apps. That's why always say: NEVER grant any withdrawal permissions to your API keys to this app or any app that request for it. For free users API Keys are stored on your device, for premium trading bot users, as all the logic is executed on our servers, their keys are encrypted and safely stored while they are needed to manage the bots. Once they are no longer needed, they are deleted.
“Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.” – Pieter Wui (66 points, 14 comments)
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