Warning: margin trading is not suitable for beginners. If you’re new to margin trading on Bitmex, make sure to initially read over our guide “The Idiots Guide to Margin Trading on Bitmex” first. The guide covered here is for more advanced Bitmex trading topics.
Bitmex has long been the “go to” platform for margin trading Bitcoin and other various altcoins. If you don’t already have an account, well you probably shouldn’t be reading this guide now should you? ? However, if you’re looking to run before you walk, you can proceed to read over this guide (like anyone’s going to stop you), but I recommend you at least sign up for an account before you do.
You can click here and get a 10% discount on your transaction fees for the first 6 months. There’s no cost to you and it really does benefit the both of us.
So let’s start off with a few advanced features that you may not be too familiar with on the Bitmex exchange.
Stop Limit, Stop Market, and Trailing Stop Loss
If you have any trading experience whatsoever, you should already know what a stop loss is so I’ll skip the formal introduction. If you’re not too familiar with stop losses, I highly recommend you check out this guide “Stop Losses VS Mental Stop Losses”.
Let’s take a look at the 3 stop losses that Bitmex provides for you and when you should use each one.
Stop Limit– when setting a stop limit on long trades, you always want to make sure that your “Stop Price” is lower than your “Limit Price”. Do the exact opposite for your short trades. This ensures that you exit your trade at the proper price point. By how much is up to you, but I do recommend a decent range between your stop price and your limit price. The closer these two numbers are to each other the less likely your order will get filled.
I personally recommend using a stop limit when you’re close to your computer. This way you can at least keep an eye on things, pay lower fees, and exit out of your trade in case your stop limit gets skipped over. If you’re not by your computer and still insist on using this feature, make sure to use a broad range between the limit and stop prices.
One of the key benefits to utilizing a stop loss limit is the fact that you’ll be paying minimal fees on your trades. Sometimes you can even receive a rebate on your funding fees depending on if you’re going long or short during an opposing bullish or bearish market. I’ll cover more about this below under “Fee Calculations and Funding Rates”
Stop Market– I don’t think it takes a genius to figure this one out. Stop market stop losses are the exact opposite of stop limits. Unlike the stop limit mentioned above, using this feature will ensure that you exit a trade and don’t suffer any more losses then you need to. This is a true “fail safe” stop loss as it will never get skipped or unfilled.
The main take away to utilizing the stop loss is the fact that it guarantees you an exit out of a trade. The downside to using the stop market is that you’ll pay more in fees. You may also exit a trade at a higher or lower price than the actual “stop price” you originally set if the market is moving at an extremely fast pace during this time.
This can be a great solution for those who have a lot of money on the line and need a guaranteed way out of a bad trade. I’m not one to tell you which one to use, as that’s more of a personal preference (it can be situational one as well).
Trailing Stop Loss– a trailing stop loss is an advanced trader’s best friend as it dynamically moves according to the current price movement.
A trailing stop loss will follow the current price action by a designated set price. This is best explained with a few examples.
You’re currently trading BTC at an entry of $7500 and set a “Trail Value” of $100. The market moves up to $7700 and then dips to $7600. You’d be stopped out at this point. You would have also made $100 profit as opposed to losing your funds if the dip kept moving past your entry point.
As you can see, this is a highly effective feature that Bitmex gives you which no other cryptocurrency exchange offers. This will allow you to keep your losses to a minimum. It’s also great for those more riskier traders who like to use higher leverage (above 20X).
The key takeaway to this type of stop loss is that it allows the Bitmex system to constantly babysit your trade by following the price point around like an angry cobra. The moment the price dips, the trailing stop loss quickly snaps it up and exits you out of the trade.
The downside to this is that you may be stopped out before a major rally in price. However this goes for any stop loss you may choose to use. The feature will also stop you out at the market price, so you’ll be paying a bit more on fees.
Now that we’ve covered all the stop loss features, let’s discuss the “Place Order” features you may not be familiar with.
A pretty simple and useful feature, the “Reduce Only” tickbox will allow you to close out your trade without opening up a new position on the opposite side of the market (I call this inverse trading). This is best explained with an example. <image>
Let’s say you start a long position for $1000 at entry price $7500 and set a sell limit to exit out of your trade at $7600 for $1000 (using the sell/short button). However, in your haste, you accidentally input an additional zero, thus opening a short for $9000 ($10,000 sell/short quantity – your long trade of $1000). This type of mistake could have dire consequences on your trading account funds.
When checking the “reduce only” feature, the Bitmex system will not allow you to execute the trade and will immediately cancel out the additional $9000 that would have put you in a short trade. The feature will still execute the trade but only utilize $1000 worth to exit you out of it.
This is an extremely useful feature that can get you out of trouble and should be checked unless you actually plan on opening an immediate “inverse trade” upon your exit (long to short or short to long). I cover more on this within the advanced Bitmex trading strategies below.
This feature should be used at all times. When checking this box, only limit orders will be allowed to execute your trades, thus saving you a ton on fees. Look at this feature as a safety precaution from accidentally creating a market order (being a taker, and not a maker).
Using Cross Margin
Leaving the leverage margin bar to the far left will allow you to utilize the Cross margin feature. Unlike isolated margin, where you have to manually input the amount of leverage you would like to use for your trade, cross margin uses your entire Bitmex balance as collateral.
This also saves you the time of inputting a leverage amount and calculating a quantity that corresponds to this leverage. These are two key aspects to isolated margin trading that you’ll have to take into consideration. Simply adjusting the leverage slider will not change the amount of contracts that you’re actually trading. It will only raise or lower the limit that you’re allowed to trade with. This is better explained with an example.
Let’s say you have $500 in your Bitmex account, and you want to trade with $5000 worth of BTC contracts. With isolated margin, you would have to move the leverage slider to 10X and then input the quantity to $5000 (this figure would be a little lower due to trading fees).
With cross margin, all you would need to do is input the $5000 into the quantity box and Bitmex will calculate it as 10X leverage off of your $500 account balance.
Most of the time, you want to use cross margin for your trades. Make sure that you never go over 10X leverage (20X is pushing it). For beginners, I highly recommend you keeping it to 2-5X.
However, there are occasions where you want to use isolated margin. Let’s say you like to put in a few day trades but only want to risk $100 of your account balance at 10X leverage for a total of $1000. Seeing that you have $500 in your Bitmex account, you would merely move the slider to 2X. This way if you get liquidated, you only lose $100 off your total account balance.
Personally speaking, I don’t trust myself to only use a set amount within my account balance, so I only fund my Bitmex accounts with an amount I’m willing to lose when using cross margin trading. This is because cross margin won’t get you liquidated as easily as isolated margin, as long as you’re not too crazy with that leverage. This is also the leverage type that most professional traders use for that exact reason.
Tip: I recommend opening 2-3 Bitmex accounts, since all of them are anonymous (no KYC needed) and fairly easy to start up. Fund each account with $500 to $1000. This way, if you’re having a bad day and there’s a massive swing against you (like 8-15% in the opposite direction of your trade), your entire t uprading capital doesn’t get annihilated.
Unrealized and Realized PNL
Unrealized PNL is related to the Mark Price. The Mark Price is what determines your risk management of your position on Bitmex. This means that when you get liquidated due to the price going against you, it’s due to the fact that Mark Price has crossed the liquidation price threshold. This will prevent you from getting liquidated from a sudden price swing on Bitmex’s local platform as the Mark Price is comprised of several other exchange values.
Bitmex has a reasonably complex way of calculating the Mark Price which can be found here. It uses a combination of Bitcoin to USD Spot Index (which is 50% Bitstamp and 50% GDAX) as well as the depth of the order book.
Realized PNL is simply what your current profit and loss is according to Bitmex. You’ll receive this figure by hovering your mouse over the Mark Price. This is the real price that showcases your real profit and loss.
Fee Calculations and Funding Rates
Bitmex calculates these much differently than any other cryptocurrency exchange. When looking at the Contract Details box, if the fee is displayed in red, long positions will have to pay the fee. This means that there are more long positions than short at that moment.
On the other side, if the fee is displayed in green then Long positions receive the fee. When you hover your mouse over the “funding rate” you’ll see a predicted rate for the next eight hour period.
This rate is in regards to the funding rate and does not take into account the maker or taker fees for placing the trade. If you exit your trade within this eight hour period, you will not have to pay the funding fee.
Tip: keep an eye out when this fee is about to go into effect. Many traders will exit the market (thus shorting) around 30 minutes or so before the fee hits their account. This would be a great opportunity to buy in and take advantage of a long trade as soon as the fee period ends. When time properly, this can be easy money.
Bitmex Advanced Trading Strategies
1. Scaling In and Out of Your Position – no matter if you’re going long or short with your trade, scaling in and out of position is highly recommended and utilized by most advanced traders.
In order to get the very best possible position for your entry and exit positions, you need to layer them (aka scaling in and out). Let’s say you’re trading with $1000 and want to take a long position at $7500 on Bitcoin. The current position is at $7800.
Instead of watching the chart all day and trying to time that five minute window in order to get the closest price to that $7500, you would simply set 3-4 entries on the way down.
This would look something like: $250 at $7700, $250 at $7600, $250 at $7500 and $250 at $7400 in case you catch a long wick down. Now, all the entry points may not get filled as the price may only reach $7600, however you’ll be at an advantageous entry point with capital in the trade.
The opposite goes for your exit positions. Let’s say your ideal exit position is at $8000. You currently have $1000 in the trade at an entry position of $7500. You can scale out of your position by setting exit points at $7700 exiting with $500, $7850 with $300 and then $800 with $200. Again, this will allow you to both enter and exit the market at the most advantageous price points as well as accumulating the most profit along the way.
Note:this is not only a margin trading strategy, but a typical advanced trading strategy that you can use for any cryptocurrency exchange.
2. Use stop losses when trading top and bottom ranges – this essentially means that if your trading at a top or bottom of a particular price range, you want to ensure that you have a stop loss in place in case your strategy is not fulfilled.
To put this into perspective…
Let’s say you spot an inverse head and shoulders, however it’s located near the top of a 3 day price range. You want to set a stop loss at a key level to where you don’t get stopped out before a major rally, however still within range to exit you out of the trade if the market turns against you.
Using the stop loss will allow you to take advantage of the charting patterns while still giving you a safety net in case the strategy doesn’t end up going the way you had planned.
The same goes for entering a trade with a short when you’re at the bottom of a 3 to 7 day average. Make sure you place a stop loss above your short, but at a price level that you know won’t get prematurely stopped out before a major dip ensues.
This is best illustrated with a chart…
3. When to Use Market & Limit Orders– for an overwhelming majority of your trades, you’re going to want to use limit orders with the “post only” feature checked. However, there are occasions where you’re going to want to use market orders.
For example, utilizing “stock market” stop losses are highly recommended when using one of the strategies above, but especially when you’re not close to your computer or watching the market.
For everything else, stick to limit orders and keep those fees to a minimum.
4. Using Inverse Trades– the beauty behind margin trading on Bitmex is that you can immediately cash out of a long with an immediate inverse short trade.
For example: let’s say the current 3 day price range for Bitcoin is between $6200 and $6800. You’re currently exiting a long trade with $1000 at $6800 from an entry of $6600. Instead of exiting the trade with a short of $1000, you can input $2000 into the quantity box and immediately start a short trade upon exiting your long.
I only recommend doing this when you’re at the bottom or top of a 3 to 5 day price range. The chances of your trade reaching a peak and reversing is much more likely than creating a new ATH (all-time high). This is best outlined with an illustration below.
5. Playing Both Long and Short Trades Simultaneously– A strategy that some of the more advanced traders use on certain occasions is to set both a short and long limit. This can be used in times where you’re unsure which direction the market is about to break out to. It’s also good to use for trading patterns like a symmetrical triangle.
In these cases, you’ll need to have 2 Bitmex accounts available. On one account, you’ll set up a long entry point above the potential breakout. On the other account, you’ll set up a short entry point below the potential breakout. This way you’re setting yourself up to take advantage of the breakout in either direction.
Another similar scenario you could use this strategy is…
If the price movement reaches a high from a 3 day moving period (like the $6800 price point covered in the example above). You can place an inverse trade to short at this peak as well as set a limit order to go long on the trade in case of a major breakout. Again, you’re covered on both sides of the spectrum.
Great Job! We’re Done Here…
I hope you enjoyed my advanced Bitmex trading guide. Using just a few of the strategies I covered above will allow you to create an incredible income for yourself in a much shorter time frame than it would typically take trading on any other cryptocurrency exchange. This is due to the fact that you’ll not only be able to multiply your trading capital with leverage, but also have access to both long and short trades as well.
Remember, initially trade with small amounts until you get acclimated to the platform. Print this guide out and keep it close by for when you need it.
As always, if you have any additional strategies you would like to share or questions concerning other aspects Bitmex trading, please feel free to leave a comment below. I’m typically quick to reply.
Good luck and happy trading!
Warning: margin trading is not suited for beginners. You should have at least several months of trading experience before attempting to margin trade. Note that using the information below is done at your own risk. This is not financial advice blah blah blah….
Ok, now that we got that out of the way…
Let’s get you started making some of that Bitmex “short trade with 100X leverage” money you’ve heard so many people talking about (btw, never do that…and if you do, you’re an idiot).
Whether you love em or hate em, Bitmex has the potential to take you from zero to hero faster than any other trading method out there. This is potentially the biggest draw to the Bitmex trading platform.
If you have a solid understanding of technical analysis, a trading strategy with a proven track record, and lots of trading experience under your belt, Bitmex may be your “go to” cryptocurrency exchange for some of that quick crypto cashflow.
However, if you’ve only traded for a few weeks and don’t have a solid understanding and proven game-winning trading strategy, Bitmex will wreck you faster than Mike Tyson on acid.
This is for heavyweights only. If you haven’t been through a few battles yet, don’t step inside the ring.
How to Get Started Trading on Bitmex
I highly recommend you open up your Bitmex trading account by using the link here in order to register. You receive a 10% discount on all your transaction fees for the first six months at no additional cost to you. Now do it!
For US Residents…
If you’re a US resident, you need to make sure that you’re either using a UK VPN or private proxy when signing up. I recommend you use BuyProxies.org and purchase their lowest tier package which is $10 per month.
Once you’ve completed your registration, you no longer need the proxies (or VPN if you decide to go that route). You can sign in with your standard US IP (no proxy or VPN) from there on out.
Ok, now that we got that out of the way, let’s get you started with the fundamentals…
Bitmex Margin Trading In Plain English
I’ll start off by defining a few terms that you’ll need to be familiar with in your early stages ….
Margin trading – this is the method of conducting a purchase using cash that is provided to you (the trader) as a loan. In reality, you’re not really “borrowing funds” from any centralized entity, you’re merely swapping out “contracts” with others utilizing the platform.
If you’re shorting, you’re swapping out with someone going long. If you’re going long, you’re swapping out with someone that is shorting.
That’s the gist behind it all. For the sake of this guide, I’ll loosely use the term borrowing.
Leverage – the amount of funds that you decide to borrow. The higher the leverage, the more funds you borrow, and the more risk you take at getting liquidated.
Example: $1000 with 5X leverage = $5000 your trading with. Your liquidation price is given to you before and during your transaction, so you should never be surprised at where it’s at.
<image: the power of leverage.png>
Liquidation price – this is the price at which your account balance (or amounts of funds you’re using) is completely wiped out.
Example: $100 with 25% leverage at BTC entry price of $7500 = $6002 liquidation price.
Don’t worry about calculating all this stuff by yourself. Bitmex was nice enough to provide you with a calculator. You’ll never be left in the dark when it comes to your profit, loss, or liquidation price.
Long position – betting that price movement will increase.
Short position – betting that price movement will decrease.
Limit order – (aka market maker) set a price and have it filled once the market reaches your set price. 9 times out of 10, you should be using this for all your trades to prevent paying high fees.
Market order – (making you the market taker) this is where you’ll immediately exit your trade. For having this convenience, you pay 3X the fee (%0.0075 as opposed to %0.0025).
Take Profit – like the name implies, this is where you start taking profits as the price value increases. The opposite applies for shorts. You want to start taking profit below your entry price.
Stop Loss Limit – this is to prevent you from completely losing all your capital from a sudden drop (for longs) or sudden spike (for shorts) in price action. Once a stop loss trigger has been reached your trade initiates your stop loss limit price. Once this limit price has been reached, you’re exited out of the trade. This will ensure that your loss is minimized.
Stop Loss Market – the same as stop loss limit, however your trade will be “immediately exited” at the market price. I highly recommend using this over the stop limit when you’re not close to your computer (or on any occasion for that matter).
When price drops, it drops fast. There’s a good chance that your stop limit price will not activate and you’ll be left holding the bags (debt). Using the stop loss market, ensures you that during a strong dip, you keep your losses to a minimum. You’re guaranteed an exit out of the trade, which again, is not always likely with stop loss limits.
Trailing Stop – think of this as a “moving stop loss” that follows the current price by a set value.
Example: $1000 at BTC entry price of $6500 with a trailing stop loss of $250 would mean that if the price action decreases to $6250, you would be stopped out (exit the trade).
However, if your price increases to $7000 and then drops $250, it would be stopped out at $6750. This is a great feature to use when you’re trade is already in profit. Trailing stops will ensure that you take advantage of quick spikes in price if you’re not by your computer.
Bitmex not only allows you to trade with borrowed money, but enables you to make a profit on both an uptrend or downtrend. No longer will you be confined to bull markets once your familiar with this trading platform. Hell, you might actually look forward to bear markets. You can make just as much during these periods of margin trading than you can within bull markets, if you play your cards right.
Now let’s look at the various ways to leverage your trades on Bitmex…
Leverage Trading on Bitmex
The cryptocurrency exchange allows you to create anonymous accounts without giving your real name or information. In order to start trading on Bitmex, all you really need to do it is deposit Bitcoin into your account. No other currency is accepted as a deposit, so don’t send you’re Ethereum, Litecoin, Ripple, or any other altcoin for that matter. Deposits are fairly quick, but this is highly dependent upon how busy Bitcoin miners are. I typically receive my deposited funds within 15 to 30 minutes.
Be aware that Bitmex doesn’t actually trade in Bitcoin, it trades in contracts. Contracts are an agreement to buy or sell an asset (in this instance cryptocurrency) without actually owning the actual currency. Once you withdrawal your funds, your contract for those funds are awarded to you and therefore “real Bitcoin” is sent to your destination address.
Bitmex offers two types of contracts…
Created specifically by the Bitmex team, this type of contract is also known as a “perpetual swap”. This is the type of contract you’ll be primarily trading when you’re first starting out, especially when you’re day or swing trading on a shorter timeframe (like 4 hour and below).
These contracts don’t have a specific date at which they will expire, so they are great for short term trading. They have a variable interest rate where cash flow is added or subtracted from your current equity. For more detailed information, click here.
As the name suggests, these contracts are continuously renewed. Perpetual contracts are also known supposed to be less volatile; however you wouldn’t think that’s the case when looking over their charts.
For having the ability to use these contracts, you’ll pay a fee every 8 hours of 0.0015% for longs and you’ll actually get a rebate of 0.0015% for shorts. Ethereum fees are much higher at 0.1562% for longs, but you receive a much larger rebate at 0.1562% every 8 hours.
For more detailed explanation of fees, click here.
This is basically an agreement between a buyer and seller to exchange a currency at a defined date in the future for an agreed upon price. Futures contracts tend to have a fixed interest rate which makes them great for longer term trading, like swing trading (using the 4 hour charts) or shorter term investing.
The great thing about these contracts is that they have a fixed interest rate which doesn’t fluctuate over time.
Now that you have a basic concept of margin trading terms, let’s move on to the next step and cover short trades.
How to Short Cryptocurrency on Bitmex
Bitmex offers quite a few cryptocurrencies to short as of the release of this guide. The altcoins they include within their platform change constantly. At the present moment you can short these altcoins with the corresponding leverage.
Ethereum (ETH) up to 50X leverage
Litecoin (LTC) up to 33.3X leverage
Ripple (XRP) up to 20X leverage
Cardano (ADA) up to 20X leverage
Bitcoin Cash (BCH) up to 20X leverage
EOS (EOS) up to 20X leverage
Tron (TRX) up to 20X leverage
Bitcoin (BTC) is the only crypto that you can leverage up to 100X leverage, which I would not recommend. When you’re leveraging past 50X, you’re essentially gambling. With that being said, if you have spare change laying around and are feeling lucky, go ahead and roll the dice. Just know, the odds aren’t in your favor. With $100 at 100X leverage, you can make $1000 in less than a few minutes (or lose it). You obviously don’t want to do this with rent money!
Back to short trading…
Shorting works in the same way as a long position except you’re placing trades on the decrease in value of a particular currency. This would’ve been the ideal way of taking advantage of the extended bear market this year (2018 and still continuing).
As an example, if you kept $2000 in a longer term short with Bitcoin on January 6th where the price of BTC was ~$17,000, till today,, without touching it, you would have $3280 (64% gain + a rebate on your fees) during this period. Remember, that doesn’t account for all the times you might have cashed out of the short due to intermittent bullish trends, which would have potentially left you with 2-5X your profit…easy. A few of my friends made over 700% during this period, shorting BTC and made 3X as much shorting altcoins.
So just remember the wise old saying…. “The trend is your friend till the end”.
As a general rule of thumb, if Bitcoin moves up, then altcoins move down. If Bitcoin moves down, altcoins move down. If Bitcoin consolidates (moves sideways) then altcoins move up. If you can follow the simple rule, you’ll have no problem knowing when to short or go a long with margin trading altcoins.
Tip:TradingView will show you the altcoins that are moving with or against Bitcoin under the comparisons feature.
You can use this highly useful feature in order to view which altcoins are about to drop or rally before it happens. Bitcoin typically leads the way as far the trend so, for example, if you see Bitcoin starting to quickly drop and know which altcoin(s) move in the opposite direction, you can set up a long trade for those altcoins before it happens.
However, make sure to always keep a tight stop loss in case the altcoin decides to move in the same direction as Bitcoin.
How Much to Leverage: A Warning to All Newcomers
One of the more significant facets to margin trading with Bitmex is that you can leverage your trades with as much capital as you want. With that said, I highly recommend you keep the leverage to around 3X-10X to start. Anything above this and you’re risking liquidation. One false, call with a bit too much leverage, and your account can be wiped out in no time. If you’re trading with 20X and over on a longer term trade, you’re just looking for trouble.
If you do decide to leverage more than 20X, make sure you do it with a small amount. Experienced traders who scalp trade with 20X-40x are typically watching the charts like a hawk for any dramatic movements. If or when the trade moves against the trader, with strong full-bodied candles, stop losses are typically put in place. Never try this unless you have at least several months of Bitmex trading experience.
No matter what, remember to…
Always plan your trades out ahead of time and never trade in a rush. Typically, when you try to “catch a falling knife” or “catch a moving rocket”, things don’t end up going very well for you. The more adrenaline coursing through your body, the more idiotic your decisions become.
The Difference Between Isolated and Cross Leverage
You have two types of leverages with Bitmex, Isolated and Cross. You can switch between one or the other by simply adjusting the leverage slider on the “Your Position” box located on the left hand side of your trading panel. Use Cross leverage by moving the slider all the way to the left (obviously where it says “Cross”). Use isolated leverage for the remaining numbers (2x,3x,5x,10x,etc)
Now bear in mind….Isolated leverage does not automatically multiply your position. No one on YouTube seems to be explaining this properly. Once you move the leverage slider, this merely adjusts how much margin you can use. You still need to manually change the quantity yourself.
For example: if your account contains $1000 and you move the leverage slider to 3X, then you’re capable of trading with $3000. You need to manually input $3000 into the quantity box.
Regarding cross margin…
You no longer need to worry about moving the leverage slider. Cross will simply use all the funds available in your Bitmex account for the margin. Just think of it as an automated way of Bitmex calculating the margin for you.
Now, read this sentence carefully… your profit is determined by the quantity and not the leverage itself. Leverage has nothing to do with profit. The amount of profit that you make is dictated by the size of your position. The leverage simply sets a limit on how much you can borrow for the quantity of your position.
Here are a few examples of Cross margin…
Your account contains $1000 and you want to use 3X leverage. All you need to do is input $3000 into the quantity box and your account is automatically at 3X leverage. If you wanted to 10X your leverage, you would simply input $10,000 into the quantity box.
By using cross margin, you’re eliminating one step from the process of manually inputting the leverage (moving the slider). The only thing you need to worry about is inputting the amount into the quantity box. However, if you don’t want to utilize your entire Bitmex balance, isolated margin may be the right choice for you.
I personally recommend using cross margin and only deposit a limited amount of funds into my account so I’m not tempted to lose it all in one trade.
Beginner Bitmex Quick Tips & Trading Strategies
Trading on Bitmex can be extremely fun or depressing depending on what strategy you decide to use. Here are a few tips I picked up along the way to help maximize my gains and lower the chances of losing a trade.
Be the Market Maker, Not the Taker – don’t waste so much money on fees. If you’re using “Market” with most of your trades, you’re getting killed here.
If you’re not familiar with the terms market maker and market taker, simply put… a market maker creates limit orders within the order book (thus waiting for his trade to execute). A market taker uses the “Market” button when buying or selling into a position (thus executes a trade immediately at market price).
Always use limit orders (you’re the market maker) for your trades. The fees are 1/3 the price of a taker fee (market taker). Also make sure to click on the “post only” tick box so you’ll only be able to use limit orders.
Many times, depending on the market, you’ll receive a rebate on your fees. While the fees seem small at first glance (0.0075% taker fee), this adds up to a lot when considering that this fee includes your leveraged amount and not the actual funds in your account. For example, if you’re on cross margin at 100X, then you would be paying 7.5% on the total amount.
The only time I recommend using market is during stop losses. Use the stop market feature when setting your stop losses. The market moves so fast that most of the time, if you set a stop limit, it won’t get filled. You’ll be left holding the bags or worse, getting liquidated.
Use Cross Leverage – I covered this above, but it’s worth repeating. Most of the professional traders use this leverage type because it helps guard against those crazy Bitmex fluctuations where you might have the right call, however you get liquidated right before that major pump.
For example: If you have 1 BTC and you open a position worth .1 BTC, on normal 100x leverage, your liquidation would be ~$60 away from your entry price. With Cross, you have .9 BTC as margin, meaning your liquidation would be about $600 away from your entry.
You’re risking your entire account balance with this margin type, however it’s well worth it considering all the major fluctuations (most notably Bitcoin). I recommend using a stop loss or better yet, only funding your Bitmex account with amounts that your willing to lose ($200 – $1000).
Pay Attention to Contract Details: Funding Rate – you notice of the bottom left-hand corner Bitmex, there is a contract details box. Inside that box is your “funding rate”. This plays a massive part with the trading landscape. This fee will get to be extremely high if everyone is longing and very few are shorting.
If this fee is positive and you have a long open, you’ll pay for that fee every eight hours on a perpetual swap. If you have a short opening that situation, you would receive that fee.
Beyond the fee aspect to this, there’s a pump and dump associated with it as well. Roughly around 30 minutes before the funding time, everyone will be closing their longs in order to avoid the fee. Once the funding has completed, the price will skyrocket. Position your trades around this time and you can make a quick daily profit.
Be Patient with Entry. Setup Limit Orders – never ever try to catch you can. By the time your order is filled, too late and you’re likely to get stuck with a horrible entry.
Set up various limit orders at key positions before a rally (or short) begins. The best way of doing this is scaling in and out of the position. I cover more on this within my swing trading guide located here.
In short, if you want to take a position at $7500 with $1000, then you want to scale in your orders at $7200 with $250, $7300 with $250, $7400 with $250, and $7500 with $250. This is the easiest and most effective way of gaining a good entry and exit positions up. Even outside of larger pumps, jumping into a massive rally is almost always a bad idea.
If you miss an entry, just be patient as another one is around the corner. It’s a lot better to miss an entry than lose money.
Stop Losses or Scaling In/Out – use one of these 2 strategies for protecting your capital. Here is my recommendation.
a) If you plan on using higher leverage (20X+ riskier approach) then use tight stop losses. This will prevent you from losing all your Bitfinex funds in one bad trade.
b) If you plan on using lower leverage (20X and below – less risky) then you can afford to scale out of a bad trade. I would highly advise initially testing this strategy with smaller amounts until you get a feel for it. Scaling out of a trade takes experience, but one where, if you master it, will allow you to walk away from most trades without a loss.
Neither one of these strategies is right or wrong. It’s a matter of personal preference and which one suites certain situations over others. If you’re more of a risk taker, you may prefer scaling. If you like to keep things conservative, then stop losses may be your “bread and butter”. Each one has their pros and cons.
Let’s Wrap This Up..
Bitmex allows traders to make money on bull and bear markets. This is why I highly experienced traders love it so much. The exchange has gained a ton of popularity this year due to its enormous volumes and rich array of features
This is a great exchange when you don’t want to risk too much of your own money trading, however would like to utilize the trading leverage (thus more capital) for higher profits.
Personally speaking, I like to fail fast. Time is too precious of a commodity to waste away trading $100 at a time for possible $5-$10 profits.
If you’re looking for reliable, secure exchange, look no further than Bitmex. It offers large leverage positions as well as a ton of functionality that other cryptocurrency exchanges don’t offer.
I’d love to hear about some of your experiences with Bitmex. Let me know in the comments below. Who knows….maybe I can lend you some advice.
I’m proud to introduce to you the Ethereum game of the year and one that will revolutionize decentralized blockchain games. The development team over at ETH Town has been working hard on this project since November of last year and was recently launched on August 2, 2018.
Now, it’s time to showcase all the efforts of this amazing game development team. ETH Town has all the makings of an extremely well thought out game along with impeccable graphics and gameplay animations.
Combine cryptocurrency, blockchain technology, smart contracts, virtual real estate investing, and strategic gameplay, and that’s exactly what you get with ETH Town.
It seems like recently, there has been a string of projects with low-quality gaming content flooding the crypto ecosystem. That’s why this review oozes with sincerity as players can expect to be wowed with innovative features, high quality styled graphics, and icy smooth gameplay.
ETH Town Game Trailer
This highly addictive, intoxicating game lets you acquire entire floors within a massive crypto tower, where you earn real estate profits in the form of ETIT tokens. You can then use various strategies throughout the game to earn bonuses, in order to build up your crypto real estate.
There is a wide variety of apartments and offices on each floor. Different occupants and businesses occupy the floors where you can also play various mini games offering opportunities to out-play and out-wit other players.
One of the mini games, Titans Arena, allows you to place your character into an arena in order to compete with others wearing various battle outfits. Once your hero wins, you’ll able to acquire some other cool items (you can also win cool stuff if you lose).
This mini game doesn’t take ether or ETIT tokens to play however winning battles will allow you to accumulate ether. Overall battle details will be released shortly, but for now the game is tested and ready to play.
Who is Behind ETH Town?
ETH Town was created by the team at On5, who has also worked with other well-known companies like Atari, EA, Samsung, amongst many others. On5 has taken their experience with mobile gaming development and utilized their creative juices in building ETH Town.
ETH Town Game Overview
The concept of the game revolves around purchasing virtual real estate assets. You’ll have a chance at owning and managing your very own cryptocurrency company. While typical asset sales and trading features are available, it’s just one aspect to the amazing game ETH Town guarantees to deliver.
You start off in the game as a small property investor and work your way on up the rankings as you outwit, out-strategize, and outplay other ETH Town players.
Another exciting aspect to the game is when players meet certain conditions (achievements), at certain points in the game, you’ll be able to sit back comfortably and benefit from other players actions. That’s all I can reveal for now, but I promise the gaming mechanics are extremely rational and fun.
Some of the major features behind ETH Town…
Improve your status as a virtual property investor and climb the real estate ladder via buying and selling of virtual real estate
Buy and sell characters within the OpenSea marketplace
Win ether during character battles
Customize your character collectibles with 100s of different combination of items
Unlock multiple achievements
Many competition floors (EtherStocks, Cauldrons, Dice floors) to purchase and generate revenue from.
What are Digital Character Collectibles?
Digital character collectibles are an important part of the gameplay, however are only a small part of the entire gaming experience. You’ll be able to acquire rare characters as well as unlock corresponding achievements through your actions.
The talented team of artists are constantly coming up with new characters that they create from scratch to ensure that everyone will be unique. The gaming platform will allow you to request customization of your character in the exact way that you want them to be drawn.
This speaks volumes to the team’s commitment regarding the principle that players voices will be heard regarding of how the game evolves as well as determining how exciting and robust the ETH world will become.
ETH Town Crypto Tower Floors
The “Crypto Tower” includes many floors. Each one is unique and handcrafted by talented artists of the On5 team. Each floor has owners and each floor owner gets rewarded with perks and unique game mechanics which ensure you’ll receive a great return on investment.
The only catch here is, you can’t deposit more than 1 ETH. Each floor is owned by multiple owners. No single individual can buy out an entire floor. This allows the game mechanics to work fairly as it would be no fun having one person purchase an entire floor.
ETH Town Characters
Start off the game with a level 0 character and make your way on up the ranks by combining different characters to obtain new ones. Building highly customizable characters will be one of your favorite aspects to this game.
During the game presale, some people were able to purchase level 15 Star Heroes which are extreely collectible and also have maxed out stats.
The price of these characters is unpredictable as no one truly knows how huge ETH Town will eventually be. Therefore, characters were sold to the highest bidders within an open auction platform. The auction was, of course powered by an Ethereum smart contract.
Level 7 Characters
There are also level 7characters which aren’t quite as cool as the Star Heroes, however some of them can still be purchased or upgraded with Ethereum. Like the Star Heroes, these characters are extremely unique and hard to come by. If you purchased 3 characters or more, you also get added to a drawing where 3 dice genes will be distributed. This means that each character could receive a dice gene which will allow you to receive more revenue from the future dice mini games.
Your Very Own Custom Character
The ETH Town development team can craft you your very own unique character. It could be you, your boss, your friend, your mom, or anyone else you have a picture of (no celebrities allowed). Purchase at least five level 7 characters and the development team will create one for you. In order to utilize this offer, you’ll need to send the development team your picture and transaction ID to [email protected]
ETH Town has the potential to truly be one of the year’s hottest blockchain games. I invite you to check out ETH Town today. Odds are you’ll find it to be as captivating and entertaining as I do.
With all the available choices of altcoins in circulation today, choosing the right balance between risk and reward isn’t always as easy as it seems. What makes matters even more challenging is the fact that there are hundreds of projects which have already been labeled as “dead coins” by researchers who track the lifecycle of cryptocurrency beyond their initial coin offering (ICO).
Although there are many investors that are content with sticking to the top 10 altcoins regarding their investment portfolio, there are still plenty of others that are looking for the next “diamond in the rough” to bring them in the type of ROI beyond their wildest dreams.
In order to find these potentially lucrative altcoins, we have to look beyond the top 10 largest cryptocurrencies by market cap. It’s difficult to say if the points mentioned below will generate an ROI of 100X that would mirror the rapid rise in value like Bitcoin, Ethereum, Neo, Litecoin, but they have proven to be rock solid companies with utility technologies that far surpass your average cryptocurrency.
With that being said, the five altcoins we list below show an incredible investment opportunity as their project specifications suggest solid fundamentals.
Deepbrain Chain (DBC)
Currently valued at less than a dollar per coin, Deepbrain Chain is considered a bargain regarding his role it plays in artificial intelligence in order to lower computing costs. DBC is included in one of the fastest-growing market (AI) to date. This explains it’s undervalued status as the company explains within their white paper that 5000 AI startups came into existence within a four year (2012-2016).
Also worth noting, they collectively raised over $22 billion and unlike other crypto companies DBC has already established a partnership with NEO. The company is also considered to be one of the leading artificial intelligence projects within the blockchain space.
You can currently purchase this coin on the Kucoin exchange.
Power Ledger (POWR)
This token is located just inside the top 100 (90 at the time of this release) in relation to its market cap, however the platforms value proposition is as valuable as they come.
Power Ledger platform allows users to trade electricity to one another in exchange for real time payments recorded on the blockchain. The company labels itself as “P2P marketplace for renewable energy” due to the fact that it allows consumers to select clean energy sources and receive payment for the excess power using a technology called “low-cost settlement”.
Much like other altcoins, PWR experienced explosive growth during the fourth quarter bull market of 2017. Tokens are currently at a bargain around $0.28 per coin at the time of this release.
You can purchase this coin on the Binance exchange.
The next cryptocurrency on the list will catch your attention with its outstanding development team, transparency, and ASIC resistance standard, making it one of the most decentralized cryptocurrencies on the market.
Heavy proponents of decentralization will find plenty of agreeable aspects to this token. Interestingly enough, Verticoin is one of the oldest cryptocurrencies on the market. It was founded back in 2014 as an alternative to Bitcoin and Litecoin. The project was even mention it Litecoin’s white paper is a candidate for atomic swaps and is on the forefront of Lightening Network development.
The long-term prospect of this cryptocurrency is about as solid as they come. You can purchase the coin on the Bittrex exchange.
This project emerged out of Disney back in 26th. It has since been developed as an open source business platform that allows for the creation of secure and scalable blockchain.
DragonChain is part marketplace, part incubator, and provides a smart contract infrastructure with a heavy focus on development, security, and scalability.
Given its potential to transform small business adoption of blockchain, DragonChain is considered to be extremely undervalued due to the limited number of listings on current cryptocurrency exchanges.
The coin can be found on such platforms like Kucoin and EtherDelta. Look for its value to explode once it reaches some of the more mainstream exchanges like Bittrex and Binance.
The token is currently ranked at #134 with a market cap of $55 million.
The Ark platform is a smaller Alternative to ICON, that carries huge potential in connecting networks. This token connects all cryptocurrencies through a virtual spiderweb of endless use cases.
The company employs a Delegated Proof Of Stake (DPOS) protocol which includes a universally accessible programming language as well as decentralization. Ark can be categorized as a platform coin, which means it’s a great currency to hold for a buy and hold strategy.
Ark token can be found on Bittrex, Binance, and Upbit. It’s currently ranked at #84 at the time of this release and has a total market cap of $104 million.
God’s Unchained is the first competitive e-sports game on the Ethereum network. The game recently launched with backing from Coinbase, the world’s largest cryptocurrency exchange and wallet provider.
Currently, the blockchain game has mainly been limited to a few collectibles which can be purchased inside the application where users buy and sell digital assets just like they would baseball cards.
The game has undoubtedly caught the attention of investors, however current data shows that daily active users are still rather low at time of this release.
UPDATE (8/1/2018): Guide To Purchasing Card Packs & Get Started Playing located below.
Hybrid Chain System Backed by Coinbase
The development company behind this revolutionary game, Fuel Games, previously launched another popular Ethereum based game by the name of Etherbots . It operated on the Ethereum network as a full on-chain game where every piece of data was created and sent to the Ethereum blockchain.
However, developers of God’s Unchained took a different approach to this game by including a hybrid on-chain and off-chain system. This allows information to be processed in batches and will prevent congesting the Ethereum network as well as provide users with a seamless experience.
The cofounder of the game, Robbie Ferguson explained…
“The cards are stored on the Ethereum blockchain, however players in God’s unchained will only initiate transactions on the network once they purchase cards or transfer existing ones. All other gameplay elements will run off-chain, which will allow gameplay to be indistinguishable from other games that do not utilize distributed ledger’s. This will permit millions of users to play without any noticeable waiting down of the network.”
Most notably , Fuel Games secured an investment from Coinbase ventures within its equity round of investing. Ferguson emphasized that having Coinbase involved with the launching of the game was clear validation regarding the efforts of the developers as well as the $50 billion industry of game asset trading on the Ethereum blockchain.
Two Layer Ethereum Solution Useful, but Not Necessary for Gods Unchained
Recently, the entire open source Ethereum development community has been focusing on Sharding and Plasma technologies. These are two-layer to scaling solutions which are expected to increase the capacity of the Ethereum network to over 1 million transactions per second.
However, Ferguson stated that Gods Unchained is not relying on the completion of these two developments in order to settle large amounts of data on the decentralized ecosystem. Fuel Game developers will be building their own unique system to cope with the current landscape of the Ethereum network.
Ferguson also states…
“The impact of Sharding and Plasma will be an extremely useful development for the Ethereum network in the near future. However, this is not necessary for Gods Unchained to run well. Trading may become a lot easier with these developments, however we’ve already made the necessary choices in order to ensure that gameplay will be seamless, regardless if Ethereum scales or not. Sharding and Plasma should not be rushed and it’s much better for developers and gamers to not rush into releasing these upgrades until they are fully tested.”
Gods Unchained: The New Generation Blockchain Games
Currently, there isn’t much known about Gods Unchained, however we do know that it will be free to play. There will be a series of game cards which can be won, as well as various rare assets that can be purchased with ether. The value of these digital assets can be changed once a developer decides to release more assets or offer special deals.
There will also be e-sports features to ensure that participants get a full multiplayer experience. Like most other blockchain based games, users will be able to exit the game whenever they like and make back or even generate a positive ROI by selling purchases they make or earn.
Check out the gameplay video here…
Early adopters have a chance to build their card deck right away with their current rebate. Every day, the rebate lowers so take advantage of the early adopter special while you can.
You have a great opportunity to make a return on investment if you invest in the Genesis cards before their official launch.
If RPGs are more your style, check out our review on Ether Online. This solid, turn based MMORPG has been getting a lot of attention within the Ethereum based gaming community.
Gods Unchained Overview
How to Purchase Card Packs & Start Playing
#1 – Connect to Metamask
Like most Ethereum based games, you’ll need to connect to the Metamask extension. This browser extension will allow you to purchase Gods Unchained playing cards. You can download it here for Chrome, Firefox, and Opera browsers.
The card packs include five cards. Each pack includes up to one higher level playing card (rare, epic, legendary, shiny legendary) depending on the amount you paid.
Typically Legendary packs are the most powerful, followed by Shiny Legendary, Epic, Rare, and then Common.
#3 – Select Packs
Choose the type of packs you want to order and select from 1,6,18,50, or 100. We chose the rare pack to start, but was pleasantly surprised to find that we received 2 higher level cards in our pack of 5.
#4 – Purchasing Your Pack
The Metamask notification will enable you to submit your purchase to the Ethereum blockchain. Just click on the green submit button to continue.
You’ll also notice gwei, which is the ethereum transaction fee, also known as Gas. Typically a few gwei is enough to conduct a fast transaction. You can make adjustments to the gas transactions (faster or slower) on the ETH Gas Station.
#5 Pack Confirmation Order
Typically the websites will display a notification regarding the transaction wait time, which will usually take a few minutes to complete.
Once the transaction has completed, players will have full control of their playing cards as they are purchased on the ethereum blockchain and are not centrally controlled by a company like other games such as Hearthstone.
#6 Open Cards
Select the top right hand menu in order to open your cards. Next, drag the pack to the center pedestal in order to open it.
You’ll view a few cool animations and sound effects before opening your pack.
#7 Your Cards are Now Revealed
Click on each card to reveal them. Your cards will now be entirely viewable. We received 2 shiny legendary cards which were marked by blue arrows next to the name. Three Common cards were received, which are not marked with any particular color next to the name.
Your cards will now be reflected within your inventory. Click on the 5th link in the top left menu to view your cards.
If you’d like to view all the Genesis Set cards inside the game, click here.
Brush Up On Your Gameplay
Gods Unchained also provides you with an Advanced Gameplay strategy section , which will help you better prepare for battle with other players. I highly recommend you read up on this if you plan on getting started on the right foot.
I doubt most other players will read up on this section before playing, so take advantage of it while you can.
Whether you’re looking to save up for retirement or just want to try your hand at compounding your income instead of it collecting digital dust in your bank account, then investing in cryptocurrency could be a great investment alternative for you.
Many people understand the fundamental idea of investing in crypto, but can the same methods translate over to trading? As you might’ve guessed, the two require very different ways of thinking and investing.
As far as the investing part is concerned, it all boils down to the fundamentals, like the technology and development team behind the project. Solid marketing and partnerships also play a major role when deciding to invest in a newer cryptocurrency or ICO. Other than that, HODLing seems to work well for most and can benefit you in the long run if you stay strong during the inevitable dips.
However if you’re looking to make money right now, you need a more short-term trading strategy…
This means you’ll be looking for more volatile, high liquidity cryptocurrency. The potentially lucrative nature of this digital asset, is a lot more volatile than traditional stocks or forex, which opens you up to a world of potentially high profit margins and risk.
That’s why cryptocurrency trading can get a bit complex and the reason why so many crypto traders need a wide variety of tools to help them navigate this newfound territory.
I’ve listed a variety of high end resources and tools that can help you improve your cryptocurrency trading success. Bookmark this page as you’ll most likely need to reference it throughout your crypto trading journey.
Welcome to the World of Cryptocurrency Trading Tools
There are a ton of tools out there used for a variety of purposes. You can use them in combination with each other, whether you’re investing or trading. Strategy is a huge part of cryptocurrency trading and so are the tools that you have in your arsenal.
Arming yourself with the right intel is everything when it comes to choosing the right cryptocurrency to trade or invest in. News sources will supply you with the most accurate and up-to-date information within the crypto sphere. Technical analysis will help you formulate a solid trading strategy off of the latest news.
If you end up choosing the right asset, at the right time, and formulate a congruent trading strategy, you’re halfway through the battle. So it’s very important to take your time and utilize these tools, to the best of your ability, in order to put all the odds in your favor.
Let’s start this list off with the most obvious choice…
You can’t start a “crypto trading tool list” without mentioning this coveted resource. If you’ve spent more than five minutes within cryptocurrency ecosystem, I realize you’ve probably used this tool on many occasions by now.
This useful tool is your headquarters for all things cryptocurrency. It contains all the information you’ll ever need, on any cryptocurrency and exchange released to the public. Everything from graphs, official coin websites, social media information, market cap, exchanges that trade a particular coin you’re looking for, etc.
I’m sure you’re already very familiar with this tool by now, so let’s move on to the other goodies…
This technical analysis trading portal contains anything and everything you ever wanted to know about the technical side of cryptocurrency like chart patterns, candlestick formations, as well as the most comprehensive list of charting tools and indicators you can find anywhere on the net.
This massive powerhouse of a site also contains a social media style platform where traders can share and discuss their charts and trading strategies. I can’t even begin to tell you how valuable this is.
Learning to trade from real trading experts and viewing how they set up their real life trading strategies is a powerful learning tool to add to your educational cryptocurrency trading arsenal.
TradingView is accessible from anywhere in the world and they even allow you to utilize their charts, drawing tools, and indicators for free. If you spend any amount of time on various cryptocurrency trading sites, you’ll notice that most of them, including reputable crypto exchanges, use TradingView charts.
If there’s one place that you want to learn more about technical analysis via plotting your own charts as well as learning from a network of professionals, TradingView is the place to be.
I could write an entire book on how valuable TradingView is, but I don’t think either one of us has the time for that.
DISCLAIMER: Coinigy is another widely used trading platform that many crypto traders use. I started out on this platform but find it to be extremely buggy and takes up a lot of your computer resources if you leave the chart up for too long. Their customer support isn’t that great either.
I highly recommend TradingView over Coinigy for serious traders. I’ll most likely write up a detailed comparison in the near future.
Moving down the list…
Ditch those bloated Google spreadsheets and let CoinTracking do all the heavy lifting for you. Keeping track of your cryptocurrency trading activity is a rather daunting task this tool quickly eliminates for you.
The service imports your trades from 24 of the most popular cryptocurrency exchanges. Importation can be done via CSV files or API. Once all your trades have been imported, you can start analyzing your ROI and stay up-to-date with your profit loss ratios and resulting taxes.
This is the ultimate cryptocurrency tracking tool. I highly recommend it if you plan on trading more than a few times per month. Read more about the tool here.
Cryptocurrency News Sites
I suppose this isn’t so much of a tool “per se” but a place you want to frequent when you want to keep a pulse on the latest happenings within the crypto ecosystem. Look at it like your daily newspaper for stocks, which is absolutely essential if you want to keep up with your expanding investment portfolio or current trades.
These news portals never post misleading information and are always the first to bring you the latest updates on the crypto world. There are many other sources like CryptoCoinJunky (shameless plug), where we filter through some the more important news releases of the day as well as provide you with trading guides, altcoin reviews, exchange reviews, and other useful information that will help you along your trading journey.
Sign up for our newsletter on the sidebar above (or below related news on mobile) and receive a free Crypto Coin Junky Handbook that contains 147 pages on everything you ever wanted to know about trading, investing, and other various aspects of the game.
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Moving onto more pressing matters….
This is an incredible tool if your into investing in ICO’s and are looking for a type of CoinMarketCap style site that specializes in Initial Coin Offerings. Here you’ll find basic information on any particular ICO that’s currently available or soon to be released to the public and accepting investors like you.
There’s also a very handy tool that calculates the potential profit (or loss) of your ICO, which will come in handy when you’re looking to keep track of how much you currently earned on your investment.
Ledger Nano Wallet
The ideal security device for your precious cryptocurrency coins and the Cadillac of hardware wallets. It’s robust security features are unrivaled. It connects to your computer via a USB and embeds a secure OLED display to confirm each transaction with a single press of its side buttons.
There are many different reasons to use this wallet over others like…
Hardware wallets are always the most secure form of storing your cryptocurrency
They’re immune to viruses
They look cool (not really a benefit, but could be in the right situation)
The first time you view this site you might think you’ve been transported back to the 1990s era of the internet, however don’t let the retro appearance fool you, as it’s one of the top trading platforms to buy and sell digital assets, with all market comparisons located in one spot.
This site is owned by the cryptocurrency exchange, Kraken, and is a comprehensive charting and trading platform that offers technical charting for a large variety of crypto exchanges. Despite handling real-time data from over 22 different exchanges, the platform also provides accurate currency statistics (no lag) which will allow you to execute instant trades from their intuitive trading panel.
Many popular cryptocurrency platforms support Cryptowat.ch like Coinbase, Poloniex, CES.IO, Bitfinex, Huobi, and many others. Click here for a list.
One of the most beloved tools from the crypto trading community. This Android/iOS app works as a position and investment tracker. It allows you to pin various cryptocurrencies on your customized dashboard and view them on a simplified graph. This allows users to keep track of orders, set alarms for particular price notifications and most importantly, allows you to input your trade data. This is the type of tool you need to have in order to track how much you’ve earned from a particular trade.
This is a must-have tool for those of you who are meticulous about keeping track of all the various cryptocurrencies circulating in your portfolio. The only issue I have with it is that it doesn’t connect via API to any market or exchange, so your trading data is not entered into the app automatically. So for now, you have to manually input your trading data.
All in all, it’s worth having as it’s free. If you’re trading or investing with over a dozen or so cryptocurrencies, keeping track of your profit ratio can prove to be a difficult task without it.
Another great alternative to Blockfolio is Delta . I’ve been hearing a lot of people singing its praises lately.
This site is a great “evidence based”, community driven, crypto news verification portal that accumulates 6 months of history on many various news reports, altcoin releases, and just about anything going on within the crypto ecosystem.
This is THE perfect tool to differentiate between authentic news and rumors on your favorite cryptocurrency. Once you’ve gathered the authentic up information, only then can you formulate your trading strategy.
You can expect an accuracy rate of well over 90% due to the fact that it’s community evidence driven. This is a great place to visit in order to substantiate the difference between rumors and the news.
The perfect site to check up and analyze your favorite cryptocurrency, ICO, arbitrage, or potential investment opportunities.
This research platform gives you a ton of insights from various angles like…
Charts & Detailed Analysis
News and a lot more
One of my favorite features is the “general average investment stats”. It gives you a great overall picture of volatility and returns of a particular coin over the course of a 7 to 30 day period.
They’ve also recently added an ICO analysis chart, pump and dump updates, arbitrage opportunities, and a host of other categories.
Ok…. So this site isn’t really that essential, however it is a good place to check if you find yourself getting a bit overly enthusiastic about a particular altcoin that looks too good to be true.
This site is an accumulation of numerous shitcoins which lists the ones that you’ll end up losing your hard earned money on. Deadcoins operates in the way Wikipedia does, where people find a report coins with absolutely no growth potential and report them as a way to prevent other users from falling into their trap.
Wrapping things up…
I highly recommend you bookmark a few these tools in order to better help you decide where to put your money when investing in any future crypto project.
These tools don’t necessarily mean that you’re going to make a guaranteed profit, however it does allow you to make a very informed buying decision, which is half the battle. Placing probability in your favor is the name of the game when it comes to any solid trading strategy.
Let me hear from you in the comments below regarding your thoughts are on the tools outlined above. If you have any other useful tools that you think should be added to the list, let me know. Up
The development of blockchain technology and cryptocurrency in general have everything to do with the inadequacies of the current financial system. Consumers are sick and tired of the long wait times associated with transactions or payment validations along with sky-high transaction fees. Blockchain and cryptocurrency have been able to overcome these issues within a rather short timeframe.
For example, blockchain transactions are able to be validated 24 hours a day, seven days a week. They often process within seconds or a few hours at most. When you compare this to the waiting periods of 3 to 5 business days for most cross-border transactions, blockchain technology is leaps and bounds better than what more traditional financial systems currently use.
Also consider the fact that a “financial middleman” is no longer needed. This lowers the transaction costs considerably. The inherent decentralization of cryptocurrency means that there is no central hub where the transactional information is stored. This ensures that there is no single company or group that controls cryptocurrency. Due to this fact, cyber criminals can never bring a digital currency to its knees.
Which cryptocurrency is the fastest?
Regardless of how efficient or cost effective blockchain technology is when compared with our current financial systems, if it doesn’t have the ability to exceed current network transaction speeds, then blockchain could struggle to break new ground.
I’ve taken data from various reliable 3rd party data sets (conducted by HowMuch and CoinAnalysis) in order to compare the transaction speeds of some of the largest cryptocurrencies by market cap in relation to other well-known payment providers like Visa and PayPal. Each cryptocurrency (or payment network) is ranked from largest to smallest based on the number of transactions are processed per second.
NOTE – This study was completed by 3rd party providers and in no way reflect the smaller market cap cryptocurrencies which release newer and faster tps everyday (some substantiated and others are not). We will continue to list the latest currencies below under “worth mentioning” as they gain more momentum and acceptance among the crypto community.
The info graphic below represents these transactions in relation to the size of the balloons. This will allow you to clearly view how some of the most popular cryptocurrencies compare to more traditional payment methods.
Top 3: Ripple, Bitcoin Cash, and Litecoin
Although Visa has the fastest transactions over any payment network at 24,000 transactions per second (tps), it’s surprising to see that Ripple actually comes in 2nd, above PayPal by 1307 tps. This shows the viability of Ripple in having the capacity to be a payment solution provider on a much larger scale.
PayPal is still the most popular and well-known digital peer-to-peer platform, however Ripples transaction speed could be the key to its rise as the next generation peer-to-peer payment platform provider. It’s not only faster, but much cheaper and secure as well.
Bitcoin Cash is the second fastest cryptocurrency according to tests. It can handle up to 61 transactions per second (on average). However, it does have a blockchain size issue. For more on this issue I highly recommend you check out this article.
Coming in at a close third, is Litecoin at 56 transactions per second. I don’t think too many of you are surprised that this would rank in the top five. This coin has always been known as one of the faster and lightweight cryptocurrencies (hence the name). Litecoin has an average speed of 30 minutes and a maximum capacity of 56 transactions per second. Not only is it fast, but the cost of each transaction are some of the lowest in the crypto sphere.
Dash comes in at 4th place with 48 transactions per second. The average transaction speed for this cryptocurrency is at around 15 minutes. As the name suggests, this cryptocurrency has been created for the primary purpose of speeding up transactions that have been lagging, like Bitcoin. They are also have very low transaction fees.
In 5th place, we have the ever popular Ethereum. The second most well regarded cryptocurrency has an average transaction speed of six minutes and their maximum capacity is at 20 transactions per second. This cryptocurrency is not only known for its speed but also having the additional smart contracts feature, which has been used for multiple purposes within the crypto sphere. As an open source platform, Ethereum has been a fundamental staple of the crypto ecosystem, which has become the foundation for 100s of other altcoins.
In sixth place, it’s not a shock to see that Bitcoin is bringing up the rear. Cryptocurrency traders are consistently hit with transaction delays when transferring Bitcoin as their expanding popularity seems to outpace their networks processing capabilities. However, the lightening network hopes to change this fundamental flaw.
Payments within this network will no longer have to worry about block confirmation times. It’s enforced by blockchain smart contracts which will no longer have to create an on-blockchain transaction for payments. Payment speed for this network is measured in milliseconds to seconds.
The Lightening Network has not yet been fully adopted by all exchanges and crypto wallets as it’s still in its beta version at the time of this release. I will update changes to this article regarding Bitcoin’s speed, as the network gains more acceptance and is thoroughly tested through various trials.
Other Fast Cryptos Worth Mentioning
EOS– has recently blown transaction times out the water with it’s almost near instant processing time and has broken records as it nears 3,000 transactions per second. So far, it’s at an all time high of 2822 TPS.
The network has surpassed many other popular crypto coins like BTC, ETH, XRP at the time of this release. It will be interesting to see how it fairs against the amount of traffic that these more popular and widely used coins get on a daily basis.
*The latest speed was confirmed via Monitor.io, a data-speed checking website.
NEO – reported average transactions of 15 seconds and comes with a more streamlined PoS protocol which is able to offer one 1,000 transactions per second.
Stellar– average transaction speeds are at around 5 seconds. The transaction cost is extremely low at 0.00001 lumens per transaction. The Stellar development team claims the network can easily handle 1,000 transactions per second.
Steem – the reported average transaction speed is three seconds and doesn’t require you to pay transaction fees due to the technology that the platform uses, called Graphene.
Cardano – has an average transaction speed of approximately five minutes. All nodes within its network can accept transactions and verify them.
IOTA – reported average transaction speeds are at three minutes as IOTA currently has no daily limitations as well as transaction fees. It reportedly gets faster as you throw more at it.
A Closer Look at the Results
I’m sure the first thing you’ll notice about the test results is how far ahead Visa is from the rest of the competition. Keep in mind that Visa has had many decades to adapt and upgrade their payment system infrastructure which leaves it to its final transaction rate of 24,000 transactions per second. I highly doubt that rate will be challenged anytime soon. However I’m fairly certain that cryptocurrency will far surpass this number in the near future.
What also might have come as a shock to you is the speed that Ripple was tested at in relation to PayPal, as well as the rest of its peers. Ripple’s more than 6X the speed of PayPal at 1,500 transactions per second. That’s saying a lot considering how new Ripple is to the market and how much older and developed PayPal is. What’s even more astonishing is that Ripple’s transaction fees come in at just a fraction of a cent, which makes it significantly more cost-effective than PayPal.
On the other side of the spectrum, Bitcoin and Ethereum seem to perform rather poorly at a mere 20 transactions per second. However you have to keep in mind that they are the most popular blockchain (and cryptocurrency) in the world. They are being used and scaled considerably more than Ripple or Dash. While it doesn’t necessarily excuse slow transaction times, the popularity between these two coins help explain the gap between its competitors.
Concerns Over Popular Blockchain Speeds
One of the biggest concerns regarding the emergence of blockchain technology is how well they perform once their traffic is fully ramped. Bitcoin and Ethereum are much slower than PayPal and Visa as a result of being an extremely popular destination for cryptocurrency users.
Although Ripple may be substantially faster now, the future speeds of this cryptocurrency remains unclear as we’ve yet to see what happens when it really gets put to the test with numerous banking clients and other real world applications.
Blockchain has yet to be fully tested with more large-scale, real-world scenarios, so it would be foolish, at this time to assume that it could keep up with more traditional payment networks. Very few would argue that blockchain technology has real-world, game changing potential.
Until recently, we’ve seen many billion dollar corporations and banks patent and utilize the technology for small-scale operations. Only the future will tell if blockchain can handle larger, industrial sized traffic.
The Future of Cryptocurrency Transaction Speed
Potential solutions like the Lightening Network promise to enhance transaction speeds for Bitcoin, Litecoin, and a handful of other massive cryptocurrencies to breakthrough numbers. The teams behind the coins listed above are constantly developing new solutions to scale transactions per second at an exponential rate.
These solutions are still being rolled out and tested. Many scaling solutions are “second layer” and offer the use of fewer validator nodes to complete transactions, which arguably pushes crypto closer to centralization.
However, coins like Zilliqa and Nano, along with off-chain scaling solutions like the Raiden Network proclaim that they will completely change the game. With their almost instant, low fee, scalable payment system, that’s complementary to the Ethereum blockchain, this will soon enhance new protocols for future cryptocurrency transaction speeds.
Both amateur crypto traders and retail investors alike are starting to lose interest within this booming cryptocurrency industry due to the rather lengthy and painful decline of the market. In spite of all this, cryptocurrency as a business continues to scale and evolve, especially cryptocurrency trading platforms.
New players to the cryptocurrency marketplace like Goldman Sachs and Intercontinental exchange (ICE) who is the parent company of the New York Stock Exchange (NYSE) are planning to allow their customers to trade Bitcoin futures. ICE on the other hand will offer swap contracts to banks so that clients can obtain their cryptocurrency the day following their purchase transaction.
While it seems some of the lower skilled investors are starting to leave the market the big players are starting to enter, which represents a huge potential for cryptocurrency trading. It’s more likely than not that cyber criminals will continue to target this industry more heavily now and in the near future.
Several security analysts have come up with a list of techniques that cyber hackers have utilized in order to hack user’s cryptocurrency trading platforms. The list below also includes some of the most common attack methods and highlights countermeasures used to combat these situations.
Phishing Emails Tactic
This includes a scenario where a security system message is sent from a cryptocurrency exchange letting you know that suspicious activity has been detected on your account. In response to this activity, the service send you a notification to your email along with a hyperlink and recommendation to change your password immediately in order to prevent your funds from being stolen.
Despite the simple scheme setup, many novice traders continue to fall for this as they click on the reset link and fill out several fields in order to change the old password to a new one. As you can imagine, once the old password field is completed, this information is transferred over to the hacker where he can readily access your account.
Here are a few rules that you need to follow in order to keep your accounts safe:
Always inspect the email address sent to you from the exchange. Official emails are always sent from the official domains. If the email address is different than the one from the actual exchange’s domain, delete and the/or report the email to the official exchange.
Double check the URL of the password reset link within the email. The password reset page should always reside on the actual cryptocurrency exchange website. Hackers are very sneaky when it comes to choosing their spoofed domain name, which typically is one or two letters off from the original.
Most cryptocurrency exchanges will not send you a password reset email in the first place, unless you’ve logged into their exchange from a different IP. Obviously, if this never occurred, then delete or report the email.
Phishing Site Tactic
Even the most savvy cryptocurrency trader will input the occasional typo when typing out their favorite cryptocurrency exchange into the address bar. Many have overlooked misspellings and security verification icons within their browser, which lead unsuspecting traders to input their username and password into a fake exchange.
In order to avoid this easy to make mistake be sure to:
Bookmark your cryptocurrency exchange trading platforms and only visit the bookmarked link.
Always look out for the “padlock symbol” within the address bar of the site you’re visiting. All cryptocurrency exchanges are secured via SSL.
Email Hacking Tactic
The email link to your cryptocurrency exchange tends to be targeted just as much as your account itself. Once the hacker takes control of your email, he can then initiate a password reset from your cryptocurrency exchange, click the password reset link inside your email account, change your password, and then access your exchange.
This is where the two factor authentication method comes in handy. It’s the most effective protection mechanism to prevent unsuspecting attackers from accessing your account.
If you’ve managed to install the Google Authenticator on your computers web browser, then you effectively opened yourself up to a potential attack and rendered this protective measure useless.
With TeamViewer installed, the attacker can access your computer in real time and hack into your exchange utilizing the Google authenticator embedded on your browser.
The 2FA is only effective if it’s installed on another device like your smartphone. This reduces the risk of being hacked considerably. You might find that the two factor authentication is a bit redundant, but you should keep in mind that hackers can outwit even the most successful traders.
It’s extremely crucial to follow these basic and simple guidelines which will significantly reduce the risk of you losing your valuable cryptocurrency in a potential hacking attempt.
Beginners Guide to Crypto Airdrops: Free Coins & Tokens
If you’ve been wandering around the crypto sphere for some time, it’s highly likely you’ve heard about these free and “potentially lucrative” airdrops. If not, we’ll you’re in for a treat.
Airdrops are essentially free cryptocurrency tokens which are given to those who hold a base cryptocurrency for an extended timeframe.
If you’re like me, you’re skeptical of anything labeled “free”. There has to be a catch right? Well, not entirely. There’s always a catch to anything that claims to be free, which usually costs you in the way of time or information.
How Do Airdrops Work?
In order to qualify for airdrops you’ll need to acquire and hold a particular cryptocurrency. Let’s call this your “base currency”. You’ll hold onto this base currency for an extended timeframe in order to acquire the new airdropped cryptocurrency (aka – tokens).
Think of it as a buy one get one free sale, except you’re not really buying anything, just holding onto a currency for an extended timeframe.
Some coins require you to hold a minimum amount of tokens in order to be eligible for their airdrop. Other cryptocurrencies will allow a 1 to 1 exchange without any minimum hold requirement. Airdrops are the ideal “scratch my back and I’ll scratch yours” type of scenario.
Let’s break this down even further and examine 3 reasons why these airdrops really work…
Advertising: Many startup companies will announce airdrops in order to deliberately bring more attention to their main coin. In summary, it’s used as another form of advertising.
Value: Airdrops are also a great way to temporarily inflate the value of the initial base cryptocurrency. As you can imagine, setting up criteria to hold one coin in order to receive another free coin typically works out for both parties in the end. Who doesn’t like free stuff, right?
Time sensitive: In most cases there is a certain time period in which you must hold the base cryptocurrency. Once the airdrop is complete, you’ll no longer have to worry about holding onto the base currency.
As you can imagine, this causes an “ebb and flow” type of situation, where the base cryptocurrency value dramatically dips just as soon as the airdrop has complete. This is why I highly recommend you sell as soon as this time period expires.
PRO TIP:This would also be a great time to short if you margin trade.
Airdrops can literally “drop” free cryptocurrency into your digital wallet. The real question is, will these new tokens increase in value over time? No one really knows at the time of their release, however one things for sure, free is free so you have no room to complain, right?
How to Join an Airdrop
First of all, you need a wallet that can accommodate several different types of cryptocurrency. Most wallets will handle various ERC20 tokens which are suitable for these airdrops. Many of them are based upon the Ethereum blockchain.
Most cryptocurrency companies will require you to register on their website in order to qualify for the airdrop. Some will outline more specific conditions like…
Joining their Telegram channel
Joining their Discord chatroom
Posting a comment or private message on a forum
Re-tweeting a message from the company
Once you follow the outlined protocol, you’ll be required to hold a certain amount of cryptocurrency in your wallet. The requirements for wallet storage can vary from an online soft wallet like MyEtherWallet or one that resides on a cryptocurrency exchange like Binance.
Either way, the details are always announced from the originating cryptocurrency via email, forum, or twitter account.
Difference Between Automatic And Manual Airdrops?
A manual airdrop is one where you’ll follow the developers on social media. You’ll be requested to share a post, take a survey, or even fill out some forms. Don’t worry; these small tasks won’t take up too much of your time. It’s worth it in the end.
Automatic airdrops do not require you to do anything other than have an active wallet with the initial cryptocurrency coins on it. As mentioned earlier, your wallet should be able to hold ERC20 tokens which is based on the Ethereum blockchain.
Most crypto enthusiasts tend to hold these coins on their cryptocurrency exchange of choice. If you choose to go this route, make sure that you’re on a well-known, reputable exchange like Binance, Bittrex, or Coinbase.
Why Are Airdrops Worthwhile? Things To Consider…
Airdrops allow you to receive new cryptocurrency that you would have otherwise gone without. In the worst-case scenario, you receive a free coin that’s worthless and collects virtual dust inside your wallet. Either way, it cost you nothing.
Best case scenario, the value of the base currency and airdropped coin you hold increases. Inadvertently, you walk away with a “brag worthy” profit on both currencies without having to invest anything but a small amount of your time.
Be very careful though, as these airdrops are a beacon for the unscrupulous types. For instance, many fake twitter accounts have been created to resemble the official cryptocurrency company’s account. The scammer poses as a developer for the team and requests your wallets private key in order to send you the airdropped coins.
This is never the case for legit airdropped tokens. Private keys are never required. If this happens to you, immediately report the account to Twitter.
Another likely scenario are fake twitter accounts that post instructions for you to send cryptocurrency to a wallet address owned by the scammer in order to receive your free tokens. The official developers will never request tokens from you, so if this happens, again, report it to Twitter.
Apart from these rather easy to spot scams, airdrops can be very beneficial.
Take note that it may take some time in order for these coins to be released. A one or two month time frame is typical.
Airdrops are great way to acquire unknown cryptocurrencies without having to invest your own money. Not only do they serve the purpose of being an effective marketing tool for developers, but they’re a great way to broaden your cryptocurrency portfolio with little to no risk.
For the latest airdrop announcements visit AirDropAlert.com. The site releases upcoming and active airdrops on a weekly basis.
Hundreds of new cryptocurrencies enter the market every single month. Not all of them will survive the ultra-competitive cryptocurrency niche. Most altcoins will never see the light of day or inherit anything close to resembling mass adoption. From countless amounts of coins that have come out this year, there are only a few altcoins that will see a 100x increase in their valuation.
Before we move forward, always remember to do your own due diligence above anything you read online or hear on YouTube. The list below does not represent financial advice nor are we financial advisors.
As a rule of thumb, projects that solve real-world problems get more attention and have higher chances of success. These are simply the top 10 altcoins we have personally investigated which represent a high chance of 100Xing profit in the years to come and solve real-world problems.
Don’t take our 100X prediction as gospel or fact. As always, DYOR!
With that said, let’s move on…
The crypto marketplace underwent a huge correction after bitcoin’s value shot up to $20k USD back in 2017. By early 2018, many coins regained some of their valuations and the market experienced a small bull run. However, the list below has the best chance of multiplying your returns when the next bull run starts.
NOTE: Not all of these coins will hit the 100x mark. Some of them may go as far as 10x or 20x and stagnate. Some may fail to cross 2x while a few others may even lose their current value. Be aware of the volatile nature within the cryptocurrency market before investing any amount of your hard earned income.
Without further ado, here are our Top 10 Altcoin Candidates who have the potential to 100X their current price within the years to follow.
#10 – ICON (ICX)
ICON wants to build the world biggest decentralized network. They are doing this by enabling blockchains to interact with each other via smart contracts. The project held their ICO at the end of 2017 and the team released a desktop wallet, ICONex. The wallet supports their native coin ICON, ETH and other ERC20 tokens. There are plans to expand the wallet support to Android and iOS in the near future.
The project has deployed ERC20 tokens for now. These will be converted to ICX tokens once their Mainnet becomes active. ICON has already put most of their technological pieces in order and is now focusing on the business aspect of their company.
Armed with an excellent real-world application, ICON is bound to improve its valuation in the coming months.
Kyber is a fantastic cryptocurrency project that is undervalued in its pricing.
Based on Ethereum protocol, Kyber Network (KNC) facilitates the immediate exchange of digital assets like tokens and coins with the fiat currency like USD or EUR. It is a decentralized exchange with a real-world connection. Kyber is one project that went public with the support from of Vitalik Buterin, the co-founder of Ethereum.
Most cryptocurrency exchanges suffer from a liquidity problem. Centralized exchanges are often prime targets for hack attacks. There are few exchanges that can convert your cash into coins or vice versa but the cost of the conversion is usually very high.
Decentralized Exchanges (DE) also suffer from liquidity problems because a majority of their transactions are of low value.
Kyber’s model ensures Decentralized Exchanges have liquidity at all times. And since the transactions do not happen on the blockchain, the processing is almost instantaneous.
Kyber’s coin KNC is deflationary in nature because, after each transaction, a certain number of coins are taken out of supply. Over time, the supply of coins will reduce and its value will appreciate. Since the network serves a real-world need, its value will go up as their adoption increases.
Compared to other exchanges, Kyber is currently undervalued and its proposition makes it attractive, especially as the number of cryptocurrencies increases over time.
Vibe jumped 400% in value within 24 hours a few months ago and we believe this may happen once again in the future. It is the native currency of a blockchain platform called the Vibehub. Vibehub started as a music-centric application but now it has become a major virtual reality application. The platform provides virtual space to people enabling them to take part in events around the world. Using the power of Augmented Reality, you can now participate in meetings, live events like sports, concerts and even meet new people, without any geographic restrictions.
The platform is based on the Ethereum blockchain and Vibe coins are used to pay for services rendered. Vibehub allows artists and teachers to use virtual reality to reach people across the globe. It plans to generate revenue from the augmented and virtual reality content.
Based on its usefulness and real-world application, as well as the roadmap the team has announced, this coin will most likely climb up the charts again and create another record for itself.
VeChain is a blockchain based platform that provides tamper proof information around products to specific merchants. It brings a new level of transparency to supply chain management, business operations, etc. Based on a decentralized architecture, the platform aims to become a one-point reference for all stakeholders in the supply chain system.
The VeChain Foundation started off as a supply chain company that produced RFID tags. They later decided to take advantage of the immutable nature of blockchain platform and combine it with the in-house knowledge of RFIDs to create an Ethereum like Enterprise DApp specifically to secure the supply chains systems.
VeChain’s in-house smart chip helps track the movement of goods throughout the product lifecycle and makes it easy for the management to protect their supply chain against tampering and counterfeit goods.
By building a more trusting blockchain tracking system, VeChain has helped businesses…
Track their products more effectively through simplified product tracking
Their smart chip technology can assist businesses who need current and accurate information on each product which also improves quality control.
Identify logistical redundancies
Protect against counterfeit goods by reverification at each node.
VeChain platform uses two native coins, VeChain Tokens [VET] and THOR power to maintain the platform. The priority of processing will be decided based on the amount of VET a business holds.
VeChain boasts of solid B2B tools and is an excellent cryptocurrency candidate for increasingly steady price movement.
While there are hundreds of bitcoin alternatives whose primary function is that of a currency, Ethereum became the first platform that fully leveraged the power of blockchain technology.
It became the platform to emulate, and a place to develop your own projects using DApps. As a result, there are hundreds of new projects and their native tokens in circulation today.
QuantStamp is the security auditing protocol running on the Etherum platform. Its primary focus is security checks on the Ethereum based smart contracts before projects hit the market.
The attacks on DAO and Parity wallet bugs are the type of incidents that can be avoided by using a service like QuantStamp. With a massive increase in the number of smart contracts being written, this service will be in great demand for the foreseeable future.
Based on the Walimai technology, WaBi is a cryptocurrency that is used as an anti-counterfeit system.
Walimai technology makes it possible to create a digital representation of each physical item produced by the manufacturer. The consumers can verify the authenticity of these products and purchase them by using Wabi coins. The Wabi blockchain is being used to protect daily consumables like food items, alcohol, pharmaceuticals, etc. Although the scope of this project is limited, the growth potential for this cryptocurrency is enormous as its first target market was China. After succeeding in countering fake goods within the country, WaBi is planning to move to other Asian countries in the future.
Simple Token allows any business to create their own digital currency by using Ethereum’s public sidechain solution. Businesses can use the OpenST protocol to create branded tokens without investing in the development of its own blockchain.
The key idea behind the project is to take away all the expensive development issues and provide the advantages of blockchain technology in a more hassle-free manner.
Their OpenST protocol makes it easy for Ethereum’s sidechain solutions to scale.
The relationship between ETH and OST is touted to be just like NXT and ARDR. This coin is expected to skyrocket within the foreseeable future.
DragonChain was originally created by Disney as a private blockchain. In 2016, it was released as an open source software used to secure business databases and execute smart contracts without any technical expertise. This platform makes it easy for businesses to incorporate blockchain into their applications and enjoy the benefits of this innovative technology. Their business model is ‘blockchain-as-a-service’ so that anyone can implement the technology without the technical know-how.
DragonChain can be considered as an incubator for blockchain based projects. Businesses can even run their ICOs on the platform. With a single KYC, US investors can take part in any of the ICOs within the DragonChain network.
The project incentivizes people to hold their DRGN coins in a private wallet and not use them in order to obtain a higher slumber score. A high slumber score gives them early access to exciting ICOs in the DragonChain marketplace. The reduced number of coins in the system is bound exponentially excel the price upward.
This coin is best to treated as a long-term hold since it houses over 200 active projects/businesses that can explode at any moment. With a solid management and development team, don’t be surprised if it quickly becomes the next 100x multiplier. This cryptocurrency probably one of the best long-term hold from our top 10 picks.
Purchase DRGN on Kucoin
#2 – Oyster Pearl (PRL)
Oyster Pearl is a second generation blockchain working towards empowering conventional applications with blockchain technology. Advertising on the internet has gotten a little out of control. Flashing banners and predatory, malicious, adware ads are making it hard for people to pay attention to the content they chose to read. Some readers switched to ad-blockers, however to counter this, the content providers started to deploy ad-block detectors to ensure they can still show a few ads in order to pay the bills.
Oyster Pearl wants to clean up the intrusive ads and still ensure content creators have a viable revenue model. PRL was built upon the IOTA Tangle, that allows the website visitor’s computer to contribute a small amount of hashing power instead of showing them an ad. This hash power is used to confirm the network transactions and gives the web host/ content creator some income.
As the internet usage and web economy grow, PRL will grow along with them which is why they are a good buy at this time.
Among all the coins in our list, Deep Brain Chain (DBC) has the highest chance for a massive moon-shot. In fact, if you are reading this article a few months later, it has probably crossed the 100x mark. DBC is a NEO based smart contract token and is traded on the Kucoin exchange. It is also expected to be on Houbi shortly. DBC provides a low cost, decentralized, private AI computing platform. It pools computing resources from people around the world to create a massive platform required to meet the AI’s computational needs.
There has been a big growth in AI related start-ups in the last five years. The value of this market is over 100 Billion USD. Hardware requirements typically eat up 70% of any AI business and this is where DBC comes into play by reducing the cost of these inflated hardware requirements.
The project has funding from NEO and has the first mover advantage within the domain. It is filled with top AI scientists and has an incredible chance and increasing its market coin valuation well over 100X.
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Warning: margin trading is not suited for beginners. You should have at least several months of trading experience before attempting to margin trade. Note that using the information below is done at your own risk.
A Bitcoin (BTC)-based exchange traded note (ETN) listed on the Nasdaq Stockholm exchange is now being targeted towards U.S. investors, Bloomberg reports Wednesday, August 15. As many in the U.S. clamor to see a Bitcoin exchange-traded fund (ETF) approved by regulators,
In the past 24 hours, despite the strong downtrend of major cryptocurrencies, the crypto market demonstrated a quick recovery from this week’s losses. On August 14, as the BItcoin price dipped below the $6,000 mark,
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