Nexo Guide: A Full Suite of Crypto-Focused Retail Banking Services

Nexo

Despite the tumultuous year we had in 2020, cryptocurrencies have still managed to surface as one of the best-performing asset classes.

Considering this rising popularity, there are numerous solutions emerging that allow you to grow your digital currency holdings.

If you have cryptocurrencies sitting idle in your wallet, it might be the right time to consider other monetary possibilities. Instead of merely holding on to them, you can capitalize on your digital coins by obtaining financing.

Nexo is one such fintech solution that allows you to build on your digital assets holdings by giving you instant access to cryptocurrency-based loans.

In this review, we explore the ins and outs of what Nexo is and how you can make the most of its services via the NEXO token.

Visit Nexo

Nexo Overview

Launched in 2018 by Credissimo, Nexo is one of the world’s first crypto credit providers. It has already processed over $5 billion in crypto loans for over 1 million users in 200+ jurisdictions.

What makes Nexo different from other lending platforms is that you don’t have to go through any credit scrutiny or mention the purpose of the loan in order to obtain approval.

On Nexo, by collateralizing your current crypto holdings, your loan will be instantly approved, and the money will be deposited directly to your bank account. You can borrow as little as $10 and up to $2 million, depending on your collateral amount.

Nexo also allows you to earn daily compounding interest on your crypto or even fiat currency. You can earn up to 10% interest annually and withdraw your capital at any time at zero fees.

To further expand the utility of your crypto-assets, Nexo has also introduced a Nexo Card that you can use to spend your digital coins without having to sell them.

Nexo Token

One of the most popular endeavors of Nexo is its native ERC20 utility token. The NEXO token is deemed the world’s first compliant and asset-backed digital currency that also gives you access to dividends.

The main attraction of NEXO is that it allows token holders to receive discounts on the platform and also gives you the ability to more interest on fiat and cryptocurrency deposits.

Nexo Token
Nexo Token

Here is a quick look at the benefits of holding a quantity of NEXO tokens:

  • 30% of NEXO’s profit is sent out as dividends to NEXO token holders. As of now, over $9.5 million has already been distributed over the past three years.
  • Saving your NEXO tokens can get you a 50% discount on the interest you pay on crypto loans,
  • NEXO tokens also allow you to receive a higher rate of interest of up to 25% on your idle digital assets.
  • Additionally, you can also make up to three crypto withdrawals per month.

How to Buy NEXO

If you believe in the prospect of NEXO, there are three ways for you to get your hands on NEXO tokens:

  • By buying the token from a cryptocurrency exchange. The coin is currently listed on several popular platforms, including Huobi Global. HitBTC, UPEX, and more.
  • By reaching out to the Nexo OTC desk. This is primarily for large purchases exceeding $100,000.
  • By using a Changelly credit card to obtain NEXO tokens as rewards. However, take note that Changelly charges high fees on such transactions. If you are signing up for Changelly only for NEXO tokens, it is recommended that you consider buying directly from a supported exchange.

NEXO Token Dividends

NEXO dividends are rolled out to all holders, no matter the number of tokens you hold or how long you have been holding them. However, you need to meet two conditions – you should have completed the KYC verification process and you should hold your tokens in the NEXO wallet.

NEXO employs an advanced distribution methodology to reward long-term investors for their confidence in the company. In addition, this approach will also decrease market volatility during the ex-dividend period.

Based on this strategy, NEXO is able to provide dividend profit-sharing in two different ways:

  • Base Dividend: is paid to all eligible token holders in proportion to your NEXO holdings.
  • Loyalty Dividend: is paid out for each NEXO token you have held in your wallet from one dividend date to another. This is calculated as 1/3rd of the total dividend amount distributed.

The dividends are calculated in US dollars and will be added to your Nexo wallet in NEXO tokens.

According to NEXO, such a methodology ensures that there is fairness in the dividend distribution. Moreover, it also helps to prevent market and price manipulation, as seen with other dividend-yielding instruments.

Nexo Loyalty Program

One of the main perks of holding NEXO tokens is that you get to take part in the NEXO loyalty program.

Loyalty Programme
Loyalty Programme

The program is split into four tiers – based on how many NEXO tokens you hold.

The requirements for each tier is as follows:

  • Base – Zero NEXO tokens are needed
  • Silver – A minimum of 1% of your portfolio balance should consist of NEXO tokens
  • Gold – A minimum of 5% of your portfolio balance should consist of NEXO tokens
  • Platinum – A minimum of 10% of your portfolio balance should consist of NEXO tokens

The higher tier you fall in, the better the loyalty benefits. This includes reduced borrowing rates, increased yields on your crypto deposits, and an increased number of free crypto withdrawals.

For instance, if you are on the Platinum tier, you can get a lowered interest rate of 5.9% on your crypto loans. On the other hand, when it comes to deposits, you can earn up to 10% in interest and an extra 2% in NEXO tokens.

The loyalty program is aimed to help you build on your digital asset holdings in the long run.

NEXO Fees

The only fees you are liable to pay on NEXO are withdrawal fees. As we mentioned earlier, you get up to three free withdrawals a month. When this limit has been reached, a gas fee will automatically be charged.

NEXO Security

Nexo is compliant in all 200+ jurisdictions in which it operates. The security of clients’ funds continues to be a priority for Nexo. Currently, the company has partnered with Ledger Vault for the safety of wallet funds and has an insurance portfolio worth over $3 billion.

Furthermore, its partnership with BitGo ensures that you are protected in case of any third-party hacks, loss, or theft of your private keys.

The company also subjects itself to regular internal and external audits, and maintains high-level IT security policies for data protection and encryption. Overall, the system appears to be sound in terms of safety.

NEXO – The Verdict?

As an instant crypto lending pioneer, Nexo continues to offer the best rates in the market for both depositors and creditors. Today, it holds the position of the largest lender in the crypto industry.

However, what makes this project even more appealing is the NEXO token. Its unique tokenomics means that you can earn double-digit dividends. As such, its usability in the NEXO ecosystem puts forth an enticing offer to consider holding this digital currency.

In this review, we explore the ins and outs of what Nexo is and how you can make the most of its services via the NEXO token.

Visit Nexo

The post Nexo Guide: A Full Suite of Crypto-Focused Retail Banking Services appeared first on Blockonomi.

Jelurida: The Company Behind the NXT & Ardor Blockchains

Jelurida is a pioneer of energy-efficient blockchain solutions and interoperable multichain networks. The company has developed two notable blockchain platforms – Nxt and Ardor, along with the first Child Chain, Ignis.

Jeluria’s team has utilized its expertise on the design and implementation of blockchain-based business solutions and decentralized applications. They work on projects right from network setup, conceptualization, development, and maintenance.

This article explores the ins and outs of Jelurida and what the platform offers.

Nxt Blockchain

Nxt is considered the first blockchain to be built entirely based on a proof-of-stake consensus protocol.

When launched in 2013, it was one of the first projects that proved that blockchain technology has uses beyond the simple transfer of value. In other words, Nxt helped explore the different capabilities of blockchain technology.

Fast forward seven years and the blockchain has managed to attract a vast community, paving the way for several new blockchain projects and features, including fully decentralized asset exchange, voting, shuffling, and more.

Nxt is an open source blockchain platform
Nxt is an open source blockchain platform

How to Use Nxt for Your Project

Nxt was developed with several applications and features already built-in.

Here is an overview of what you can do with the blockchain.

  • Issue a token on the DEX, trade it or offer dividends to the holders.
  • Set up decentralized marketplaces with options to list goods, add pictures, and receive reviews.
  • Conduct crowdfunding campaigns using monetary system currencies.
  • Work with decentralized polls based on voting models.
  • Send encrypted messages or plain text between different accounts.
  • Upload data to the cloud and tag keywords to make it searchable.
  • Make transaction executions conditional, adding the need for whitelisting accounts through voting or by using passwords.
  • Phasing and account control using simple and flexible multi-signature account functionality.

You can use these features with browser-based wallets or use them as building blocks with API calls.

Ardor Blockchain

This multichain blockchain platform is built on a unique parent-child chain architecture. The parent Ardor chain is responsible for safekeeping the entire network, whereas the interoperable child chain is loaded with rich functionalities.

Along with hybrid user permissioning capabilities, this design adds to its wider flexibility – opening the door for various uses of blockchain technology.

Furthermore, Ardor was developed with scalability in mind, ensuring that it can address the existing industry issues such as single-token dependency, blockchain bloat, as well as the need for easily customizable blockchain solutions.

Ardor is a multichain blockchain platform
Ardor is a multichain blockchain platform

From Nxt to Ardor

As innovative as Nxt was, it still had some issues that could benefit from improvement. For instance, the entire blockchain system and its development were dependent on the native token NXT. It was inevitable to process payments and transfer assets over the blockchain.

In addition, Ardor also had issues with Blockchain bloat, limiting its future expansion and scalability. Moreover, customization was an issue, as many organizations need to adjust the blockchain to use their own transactional token and other functionalities.

Ardor was developed to address these drawbacks of Nxt, to bring greater flexibility to the uses of blockchain.

How to use Ardor for Your Project

Ardor is a single-parent chain that has multiple child chains. This allows organizations to add their own child chain to the Ardor ecosystem as needed.

Here is a list of the benefits that Ardor offers.

  • Launch a custom blockchain without concerning yourself with network security or maintenance.
  • Each child chain can have its own native token and have features optimized for its specific use.
  • As each of the child chains are interoperable and backed by the parent Ardor chain, you can create a diverse ecosystem with different projects that work seamlessly with each other.
  • Although Ardor is a public blockchain, you can still make the individual child chains permissioned.
  • As with Nxt, Ardor also allows for pruning and retrieving data. Furthermore, each child chain transition is also designed to be prunable and does not have to be stored permanently for every new node.

Ignis

Ignis is the primary child chain of Ardor and is an integral part of the platform. The chain comes fully featured and permissionless to carry out all transaction types and features that come with Ardor.

This is the exclusive chain used to create stateless and lightweight contract development.

Ignis also supports some of the advanced privacy mechanisms, such as coin shuffling and encrypted messages that can be shared with third parties.

Ignis Features
Beginners Guide to Ignis: Ardor’s Eldest Child Chain

How to Use Ignis for Your Project

Anyone from individual developers to businesses can benefit from the Ignic child chain and token to develop both permissionless and permissioned dApps.

Below are some additional features that Ignis offers:

  • Asset exchange allows you to issue a token on the Ignis child chain, which will then be accessible on other child chains. These assets can be traded, used for voting, or used to pay dividends in the chain token.
  • Limit the accessibility of the apps they design based on account and asset control.
  • Set up decentralized marketplaces on Ignis and other child chains.
  • Support monetary system currencies to conduct crowdfunding, issue gaming tokens, and more.
  • Create polls with multiple questions and count them based on voting models.

Apart from this, the majority of features found with Nxt are also included in Ignis.

How to Access Jelurida Blockchains

Being an open-source platform, Jelurida has made all of its blockchains publicly available on its website.

Both Ardor and Nxt product and experimental versions are available for Android, Android full node, macOS, and Unix.

If the inbuilt set of features and applications are not sufficient for your business needs, you can use the framework to develop your own custom blockchain under the Jelurida Public License.

Ardor Use Cases

Here are some use cases Ardor offers.

Triffic

Ardor is the base for the development of Triffic, a mobile app that uses augmented reality and gamification to enable its users to collect GPS tokens based on mobility.

The blockchain has been used to create a gaming economy, reward systems, secret sharing, and generation.

CycleValue

This blockchain-based solution is used to reward cyclists for regular cycling using ‘cycle tokens.’

Thanks to Ardor, the team was able to develop a transparent and low-threshold reward model built on the Ignis child chain.

The solution takes advantage of the distributed infrastructure and decentralized consensus algorithms.

ArdorRocks

ArdorRocks is a social network that is entirely based on the Ardor blockchain technology. The project is still in development by Corrado Andriani and aims to give rewards to content creators on social media.

The native token – Rocks, will be used as the asset in order to facilitate the reward system.

Gallery Defender

This is a research project that explores the application of blockchain in game-based learning solutions. It will test the knowledge gained by players and securely records their achievements on the blockchain.

Other Services

As we mentioned, there are aspects on the blockchain that can be customized for your individual projects.

However, it might not always be feasible for individual teams. Jelurida also offers its services in order to ensure that you receive all the support you need in using its products.

The services are provided in:

  • Ardor child chain creation: New child chain creation is managed by Jelurida through a contractual agreement between the operator and the platform. This will ensure that the new child chains are based on a use case and that it will contribute to the viability of the Ardor platform.
  • Private Blockchain Implementation: Jelurida offers a blockchain creation kit for free under the Jelurida Public License. This is a developer toolkit, and if you need extensive customization, the team is always available with support.
  • Technical Consulting: The team is also available to assist you with different aspects of project maintenance, development, and deployment.

Wrapping Up

Jelurida endeavors to prove that there is plenty to get excited about with blockchain technology above and beyond just cryptocurrencies.

The use cases of Ardor are excellent examples of how easy it is to build applications with different utilities based on blockchain protocols.

It goes without saying that the platform and its projects have countless applications in our daily lives.

The post Jelurida: The Company Behind the NXT & Ardor Blockchains appeared first on Blockonomi.

CoinZoom: ZoomMe Remittance Feature for P2P Fiat & Crypto Transfers

Coinzoom

International remittance plays a significant role in everyday life. For immigrants, it is an unavoidable means to send money to their loved ones back home.

For freelancers, it is the easiest way to get paid for their work from any part of the world. And hence, it is no surprise to learn that the industry currently dominates the global peer-to-peer money transfer scene – with an estimated market volume of $597 billion expected in 2021.

Considering this demand, competition is fierce among global remittance providers. CoinZoom has since entered the space with its latest product – ZoomMe.

This innovative international remittance and payment transfer platform allows you to send money on a 100% commission-free basis.

Read on to find out more about CoinZoom and its ZoomMe transfer service.

CoinZoom Homepage
Read our full CoinZoom Review

CoinZoom and ZoomMe

CoinZoom is a cryptocurrency trading platform that focuses on providing customer-focused tools and trading technology.

In addition to the trading aspect of the platform, the team at CoinZoom has also been working to provide solutions that promote usage of cryptocurrency in day to day lives.

The platform has partnered with several popular payment firms such as Apple Pay and Samsung Pay with this goal.

Moreover, the platform offers a  CoinZoom Visa debit card that allows you to instantly convert crypto to fiat and use your digital assets to pay for international goods and services.

The latest addition to this array of products is ‘ZoomMe’ – a global payment system that allows you to send and receive cash and cryptocurrencies instantaneously.

In many ways, ZoomMe can be compared to the likes of PayPal and Venmo. Only, they have made it better by including the option of transferring cryptocurrency with unparalleled ease.

And, most importantly, ZoomMe sets itself apart by not charging you any commissions or hidden fees to process these payments.

Fiat & Crypto Options

How ZoomMe Offers Zero-Commission Transactions

As a cryptocurrency trading platform, ZoomMe uses blockchain technology to provide commission-free transactions. Instead of paying fees, what you need is an allocation of ZOOM – the official digital currency of CoinZoom.

The more Zoom you hold, the more money you can send without paying any fees.

Zoom Token

Zoom token is a decentralized digital currency built on top of the Ethereum blockchain. Within the CoinZoom ecosystem, Zoom is used to get you discounts in trading fees, listing fees, and Visa card rewards.

Moreover, the amount of Zoom you hold will also determine how much money you can send using ZoomMe on a daily basis. There are five different tires of CoinZoom accounts based on Zoom holdings:

Select

  • Required ZOOM holdings – 1,000
  • ZoomMe limit per day – $500

Preferred

  • Required ZOOM holdings – 3,000
  • ZoomMe limit per day – $1,000

Gold

  • Required ZOOM holdings – 12,000
  • ZoomMe limit per day – $2,500

Platinum

  • Required ZOOM holdings – 50,000
  • ZoomMe limit per day – $5,000

Black

  • Required ZOOM holdings – 100,000
  • ZoomMe limit per day – $50,000

You can purchase ZOOM directly through CoinZoom. Alternatively, you can also collect ZOOM through referral programs.

CoinZoom Card

At this point, it is worth noting that you stand to benefit the most by combining CoinZoom cards and ZoomMe.

Although you do not need a CoinZoom card to process any ZoomMe payments, if you hold a number of ZOOM tokens in your portfolio – it would be best to take advantage of the perks of the Visa card as well.

The aforementioned tier system also applies to the CoinZoom card – where the quantity of ZOOM in your possession will determine the spending limit and the trading discounts you receive.

The top two tiers, such as Platinum and Black cards, can also get you higher cashback offerings of up to 5 percent – an agreeable feature if you frequently use crypto for your online transactions.

Currently, physical cards are available only in the US. If you reside outside of the US, your access is limited to a virtual card.

CoinZoom Debit Cards

How to Send Money Using ZoomMe

ZoomMe can be used internationally to send and receive both fiat and cryptocurrencies. However, at the moment, the platform supports only USD as fiat currency.

Here is a step-by-step walkthrough of the process.

  • Click on your ‘Portfolio’ to see the list of fiat and cryptocurrencies in your CoinZoom wallet.
  • Select the fiat/crypto you want to send
  • Add the wallet address of your recipient in order to whitelist them.
  • Once your beneficiary is added to your whitelist, you can find them listed in the drop-down menu – ‘Wallet Address.’
  • Select the specific wallet address you want to send money to
  • Enter the amount you want to send.
  • Click submit

Keep in mind that once you tap on the ‘submit’ button, the transaction is finalized. ZoomMe does not ask you to confirm this step again or verify the amount you entered.

As such, it is crucial that you double-check the wallet address and send the amount before you press on submit. If a mistake occurs, you will have to resolve it with the recipient.

You can also click on the barcode icon on your dashboard as a shortcut to go to the ZoomMe sending interface.

How to Receive Money Using ZoomMe

  • Go to your portfolio and select the fiat/cryptocurrency you want to receive.
  • Your ZoomMe handle will appear on the top left corner of your screen.
  • You can copy it to your clipboard to send it through message or share your QR code with the sender.

You can also access your transaction history of your credited and debited payments on ZoomMe.

Behind ZoomMe

If you are considering this fee-free payment system, it is paramount that you know a bit more about CoinZoom.

The trading platform is one of the few regulated cryptocurrency exchanges in the US and is an approved MSB in all states. If compliance is a key priority that you are looking for, then CoinZoom certainly stands out.

The platform can give you access to nearly 25 cryptocurrencies and their respective trading pairs.

There are additional features that pave the way for a smooth and efficient trading experience.

For example, the CoinZoom AI is a dedicated pattern recognition system that alerts traders of support and resistance levels and other technical trends. There are also over 100 built-in technical indicators at your disposal.

In addition, CoinZoom offers the following trading tools that might be of interest to you:

  • Trading on the go with real-time access from multiple devices
  • Algorithmic trading to create a customized strategy for automated trading.
  • Live order flow alerts with regular updates on every market movement and trend
  • Real-time profit and loss information.
  • Depth of Market indicator tells you the number of digital coins that you can buy without leading to a price fluctuation.

As you can see, ZoomMe is only one part of CoinZoom’s functionalities. The platform primarily focuses on cryptocurrency trading – while ZoomMe and the Visa card are ways for CoinZoom to promote the circulation and use of digital coins.

The platform caters to both beginners as well as expert traders, along with institutional customers with their diverse requirements.

The Verdict

ZoomMe is perhaps one of the few global remittance platforms that charge absolutely no fees for transactions. However, the main limitation is that in terms of fiat currencies, only USD transfers are possible at the moment.

With that said, USD is the reserve currency of the world and is often the go-to medium when sending funds to the emerging and third-world regions.

As such, ZoomMe finally paves the way to transfer funds to friends and family back home without having the money eaten away at by expensive fees, commissions, and unfavourable exchange rates.

The post CoinZoom: ZoomMe Remittance Feature for P2P Fiat & Crypto Transfers appeared first on Blockonomi.

What is a Smart Vault? Taking a Look at Rocket Vault Finance

Rocketvault

In the last decade, the cryptocurrency trading scene has evolved to become a multi-faceted market, famous for its volatility. Consequently, it has become a complicated place to invest in.

With thousands of cryptocurrencies available today, it can be a full-time job to watch the markets and adjust your portfolio accordingly. In fact, even for the most seasoned of traders, it can be a challenging and exhaustive task to keep up with ever-changing market shifts.

Robo advisors can solve this to an extent. However, this still requires significant input from your side to set the necessary parameters.

Rocket Vault Finance intends to offer a more feasible solution with its product.

Its automated ‘Smart Vault’ can find you the best cryptocurrency trading opportunities at the click of a button. Moreover, this innovative tool can manage your assets in a way that maximizes potential gains and keeps risk to a minimum.

In other words, Rocket Vault Finance can help you utilize cryptocurrencies as a source of passive income – even without expertise in the field.

What can Rocket Vault Finance Do?

Rocket Vault Finance has built an innovative Smart Vault tool that is based on Machine Learning and Artificial Intelligence. All you need to do is deposit money into the vault, and the system will do the rest for you with Zero Human Intervention.

The tool will analyze vast amounts of historical data to identify the best performing pools, eliminate risky pools, find the best entry point and arrive at the optimum position.

In simple terms, these Smart Vaults have the potential to replace an experienced fund manager and achieve value investing with crypto. Although the product was launched just over a year ago,  Rocket Vault Finance has managed to yield an APY of 100%.

How Does Smart Vault Work?

Rocket Vault’s unique approach focuses on developing a system that makes it possible to trade in ways beyond human abilities. Currently, RVF gives you access to over 700 stablecoins to build a diversified portfolio.

Here is how Smart Vaults achieve this.

Using Real-Time Data

Smart Vault comes equipped with a real-time data fetching engine that interacts with global cryptocurrency exchanges through endpoint APIs. The platform is hosted in Hyperscale, and as such the Smart Vault can access market data almost instantaneously.

This makes it possible to execute trades as soon as an opportunity arises, using algorithmic tools that find the fastest connection between the exchanges and trading protocols.

Predicting Market Movements with AI/ML

Smart Vault’s important underlying concept is the advanced AI/ML trading system that relies 100% on market data. As noted, RVF currently supports over 700 stablecoins on the platform.

The process is carried out in the following steps:

  • The AI engine scours through vast volumes of data and analyses it using data modeling and statistical analysis.
  • The ML will then apply pattern recognition and predictive analysis to effectively predict the best times to enter the market and which assets to trade.
  • Smart Vault leverages LSTM-based neural networks to spot volume anomalies and time-series patterns.
  • The system also categorizes potential tokens that can be moved into a monitoring list.

Asset Rebalancing

Rocket Vault Finance employs an asset balancing feature that manages user funds via pools. It consists of a Treasury and a Monitoring Engine.

Here is a quick look at both these technologies:

Treasury Management Engine

The Treasury serves as a reserve to ensure that any withdrawal requests can be processed at any given moment. It has been equipped with the following functionalities:

  • To identify how much to invest in each token based on available volume.
  • Keep tabs on the reserved amount to be kept in the Treasury to process withdrawals
  • Find out the percentage of profits to secure in different cryptocurrencies.
  • Communicating the data to the blockchain-based Smart Contract in order to distribute the rewards.

Monitoring Engine

As the name applies, this plays the role of monitoring the existing orders and dynamic decision-making processes to adjust trades based on market conditions. In effect, a monitoring engine can do the following:

  • Tracks every buy and sell order executed.
  • Traces the executed orders to calculate the optimum sell order price.
  • Readjust orders corresponding to the token’s performance.

RVF Data Sets

In order to develop a fool-proof system, RVF has built a training model that includes two phases, and consequently – two different data sets.

  • Training data set was sourced from partnerships with multiple cryptocurrency exchanges such as Binance and Bitfinex, using APIs.
  • Testing model is the set of data that is being used to cross-check whether the system comes up with the correct output or not.

Scalable System

As is evident, RVF has designed a well-thought-out system to make trading easier. It has also made efforts to ensure that its structure is scalable and works for both retail as well as institutional traders.

Unlike other trading platforms in this space, RVF does not offer a watered-down version of its product to retail investors. Instead, the same level of expertise is applied to all traders, regardless of the size of their investment.

In addition, RVF has also implemented a cap on permissible investment funds during its private beta program. The platform slowly increased the cap on deposit limits to ensure that its strategies adapt based on the inflow of funds.

RVF Token

Following the lead of other crypto-related platforms, RVF has also launched its native ERC-20 utility token.

The coin has a limited capacity of 100,000 and can no longer be minted. It is designed to lock up tokens in a bid to drive up the price of the digital asset.

Investors also have to fulfill a few conditions to access the RVF token – such as making a minimum contribution to two ETH coins to participate. If, for example, you hold 50 RVF tokens, you will be eligible to get a full refund of your initial investment over time.

Holding an RVF token also gives you access to reduced fees on the platform. These discounts will depend on the subscription model you have chosen.

RVF Subscription Models

At the moment, RVF offers two different plans – one for retail clients and another for institutions.

The Retail Subscription Model is free – meaning there is no management or yearly commission.

Other notable points include:

  • No KYC until you hit $10,000 in tradable funds
  • Rewards are compounded automatically
  • If the RVF token balance is not maintained, 5% of profits will be deducted
  • A small percentage of profit is deducted towards fees

The Paid Institutional model includes:

  • 2% management fee
  • 5% of profits as a fee per year
  • Rewards are locked for a minimum one-year duration and distributed quarterly henceforth
  • Pay in RVF tokens and save 0.5% on fees
  • Close the account any time

The Verdict

The team behind RVF has managed to find a gap in the cryptocurrency trading scene – and has subsequently crafted a unique product to target it.

The 100% APY achieved thus far is undoubtedly notable – but it is important to remember that the project cannot always guarantee the same results indefinitely

That said, the platform is still relatively new and could benefit from more transparency, especially when it comes to fees and commissions.

Regardless, the Smart Vault technology has promising potential and can be a useful tool for both beginners and experienced traders. Much like any other investment product, ensure that you do your homework and consider the risks before taking the plunge.

The post What is a Smart Vault? Taking a Look at Rocket Vault Finance appeared first on Blockonomi.

1inch Exchange Review: A Leading DEX Aggregator

1inch Exchange Review

DEX ‘aggregators’ are one of the latest developments in the thriving digital currency market. Such providers allow you to tap into high liquidity while at the same time – benefit from better pricing.

1inch Exchange is a non-custodial DEX aggregator that rolls these advantages into a single platform.

In this review, we take a close look at the ins and outs of what 1inch Exchange offers.

Visit 1inch Exchange

What is 1inch Exchange?

While 2020 left the larger share of the financial sector in disarray, the decentralized finance (Defi) market has had a propitious year. Traders from across the globe ventured into this alternative financial industry – in hopes of benefiting from ever-increasing market volatility.

Not only have we seen an increase in fund inflow, but a range of new and exciting trading innovations have since entered the space. One such example is that of DEX aggregators.

At the forefront of this is 1inch Exchange. The platform sources liquidity from various exchanges and uses smart contract technology to enable the optimization of trades.

1inch Exchange
1inch Exchange

The platform was established in 2019 by two Russian developers – Sergej Kunz and Anton Bukov. 1inch Exchange integrates seamlessly with many popular DEX’s such as the Balancer, Kyber Network, Uniswap, Oasis, Moonswip, and more.

In other words, you will find it easy to swap any kind of ERC-20 token at the click of a button. At the moment, the exchange currently supports over 250+ digital currencies.

The aim of 1inch Exchange is simple and straightforward – to offer the best rates for its users by discovering the most efficient swapping routes from leading DEX providers.

To ensure this, the platform displays the price and liquidity available on each exchange so that you can make an informed decision after comparing what is on the table.

This eliminates the need for you to check multiple exchanges simultaneously to verify whether you are getting the best rate. All in all, 1inch Exchange makes the process much easier and time-efficient.

How Does 1inch Exchange Work?

1inch Exchange uses its API technology to locate the best possible routes for a token swap, subsequently dividing a trade across several exchanges.

As a result – the rate you have at your disposal is often much better than what you will get by sticking with a single cryptocurrency exchange.

In effect, 1inch Exchange intends to address the drawbacks of the wider DEX marketplace. That is to say, expensive transaction cancellations and high slippage that results from thin order books.

How to Start Using 1inch Exchange

The most notable feature of 1inch Exchange is that you do not have to create an account to begin trading. Instead, you link your ETH wallet, and can begin swaping currencies straight away.

1inch Exchange offers integration with numerous cryptocurrency wallets that will store your digital coins. This means that 1inch Exchange does not have access to your token.

In other words – you are in complete control over your crypto-assets. This is crucial from a safety perspective.

How to Swap on 1inch Exchange

Here is a step-by-step walkthrough on how you can start swapping coins on 1inch Exchange:

Step 1: Connect your ETH Wallet

You have the option to connect your ETH wallet right from the homepage.

1inch Exchange currently supports the following cryptocurrency wallets:

  • Web3
  • WalletConnect
  • WalletLink
  • Ledger
  • Portis
  • MEW
  • Torus
  • Fortmatic
  • Authereum
  • Bitski

Once you have accepted the terms and conditions, you can simply scan the QR code to connect the platform with your wallet.

Connect Your Wallet
Connect Your Wallet

Step 2: Select the Token

With your wallet linked, you can choose which digital tokens you want to exchange. 1inch Exchange will show you a comparison chart with exchange rates from different DEX’s.

You will also be able to compare individual rates to the best rate available.  To give you a clearer picture, 1inch Exchange also includes a few centralized exchanges and their respective rates.

Note: If you are not able to find your required token from the menu, it is because the asset has not been whitelisted yet. In this case, you can apply for the coin to be whitelisted or add it as a custom token by entering the respective address.

Select which tokens to swap
Select which tokens to swap

Step 3: Swap Tokens

When you are ready, you can proceed by clicking ‘Swap Now.’

1inch Exchange will once again present you with all the required details so that you can verify and confirm the transaction.

You can approve the corresponding transaction in your wallet, and the trade will be executed on the blockchain.

And that’s it! – You have just placed your first trade on 1inch Exchange at the best rates possible.

Swap Token
Swap Token

Note: 1inch Exchange also allows you to enter your swap position at a price favorable to you via a limit order. You simply have to place the limit order at your target entry price and it will be filled by whichever DEX meets that price. The only thing to remember is that the limit order feature only works with ER20 standard tokens.

As 1inch Exchange is non-custodial, it will constantly need to interact with your cryptocurrency wallets. If you’re looking for a handy shortcut, you can simply enable the ‘infinity unlock‘ gesture.

Once selected, all trading activities will be executed without interacting with the app – essentially reducing your gas fees.

1inch Exchange Features

As a DEX aggregator, 1inch Exchange seems to be performing well – delivering on all its promises. That said, the platform has much more in stock for cryptocurrency traders.

Take a look at what 1inch Exchange offers other than its core aggregator service.

1inch Exchange Token

The 1inch Exchange token is one of the latest endeavors of the platform. It can serve as both a utility token and a governance token.

The token runs on the Ethereum blockchain and will be distributed across wallets that have previously interacted with the 1inch Exchange platform – under certain conditions.

1inch Governance Token
1inch Governance Token

At the moment, there is a total supply of 1.5 million 1inch Exchange tokens. As of 26th December 2020, 6% of the total supply is in circulation. The next 30% will be distributed within the next four years, and the remainder at various intervals.

As a trader, you are eligible for a 1inch Exchange token if you meet one of the three conditions set by the platform.

  • You should have executed at least one trade before 15th September 2020
  • You should have completed at least four trades in total
  • These trades should be worth a total of at least $20.

If you fulfill the above requirements, you can redeem the token directly from your cryptocurrency wallet that is connected to the 1inch Exchange platform.

Any tokens available for you to claim will be displayed under your 1INCH breakdown’ from the wallet.

1inch tokens
1inch tokens

1inch Exchange CHI Gas Token

When sending and receiving Ethereum, ‘gas’ is the fee charged by ETH blockchain platforms. In simple words, you can compare gas to a transaction fee.

Gas is calculated based on the computational effort it takes to execute a trade on the DEX. The more complex the operation, the more gas it will require. As such, it is impracticable to predict specifically what gas fee you will pay.

The CHI Gas Token, otherwise known as “CHI,” is an ERC20 token that will help you reduce this transaction fee on 1inch Exchange.

The value of CHI is pegged to the gas price set by the ETH network. Meaning – when the ETH gas price declines, as will the value of CHI (and vice versa).

But, there is one key difference that will help you save money when using CHI. When you are buying CHI, you get to save 1% in fees compared to GST2 (ETH GasToken).

And, if you are selling (burning) CHI, you can save 10% in comparison to GST2.

You can mint or buy CHI Gas Token directly on the 1inch Exchange platform. Once you have the token available in your wallet, you can activate it to reduce the gas cost of future transactions.

1inch Exchange Mooniswap

Mooniswap is 1inch Exchange’s answer to the popular Automated Market Maker (AMM)- Uniswap.

These are smart contracts that are responsible for the liquidity pool of ERC20 tokens. In simple terms, this can effectively prevent slippage, allowing you more control over how you enter cryptocurrency trades.

1inch Exchange Fees

1inch Exchange, as an exchange platform, does not charge you any fees or commission to use its services. However, as we mentioned, you are liable to pay for the gas cost of your transactions.

That said, if you activate CHI Gas Tokens, it is likely that your gas fee will be considerably reduced.

Note: 1inch Exchange is a DEX aggregator, so your trading fees will largely depend on which DEX you use to fill your order. It is best to refer to the fee structure of these individual platforms before executing your trades.

According to 1inch Exchange, their main aim is to ensure the best swap rates for its users. As such, adding any additional charges on top of the DEX fee will not serve that goal.

1inch Exchange Deposit and Withdrawal fees

Apart from trading fees, 1inch Exchange also relieves its customers from paying any deposit or withdrawal fee.

This means that you only have to concern yourself with the charges that come with your wallet and the respective DEX platform(s).

Moreover, we should note that 1inch Exchange has no relationship with fiat currency. As such, novice crypto-investors with limited crypto-assets will find the platform somewhat restrictive.

In other words, you will first have to acquire cryptocurrency and deposit the coins in one of the platform’s integrated wallets. Only then can you take advantage of the swap rates offered by 1inch Exchange.

1inch Exchange Security

As for most DeFi solutions – safety is the primary concern for all traders.

At the risk of repetition, 1inch Exchange is a non-custodial DEX aggregator so it does not have access to your cryptocurrencies. This means that your assets are not held on the platform – unlike other centralized exchanges where you have to deposit funds for trading.

In addition, you will be pleased to hear that 1inch Exchange so far has a reputation of not suffering from security threats or hacks. As you are not providing any personal information, you need not worry about data breaches.

1inch Exchange Customer Support

The exchange platform has made sure that you can reach the customer support team through multiple channels. If in need of support, you can try one of the following:

  • Email support
  • 1inch Exchange Help Center
  • Live Chat
  • 1inch Exchange support group
  • Telegram group

Furthermore, the platform is also active on social media channels such as Twitter and YouTube.

1inch Exchange Exchange Pros & Cons

To help your decision-making process, we have created a list of pros and cons based on our user experience.

Pros

  • 1inch Exchange maintains a good track record of no security breaches or hacking incidents.
  • The interface of the platform is clear and easy to navigate.
  • There are no additional fees involved in using the service – you only have to pay the network fee.
  • As a DEX aggregator, 1inch Exchange ensures high liquidity on your cryptocurrency trades while limiting the exchanges to a single transaction.
  • The CHI Gas Tokens are beneficial if you want to reduce your transaction costs further.
  • The novel AMM Mooniswap allows you to avoid slippage and subsequently take control of your entry price.

Cons

  • The platform is not accessible for traders who do not own cryptocurrencies.
  • Though there are numerous tutorials, beginner traders might still find the platform somewhat challenging.
  • While being a non-custodial platform, some traders might find the lack of fiat deposit methods discouraging.
  • The “Infinity Unlock” might turn out to be a potential point of attack in the future. Unlocking each transaction separately could be both time-consuming and expensive – but it is more secure in comparison.

Why Should You Choose 1inch Exchange?

Overall, we find that the innovative tools and features offered by 1inch Exchange certainly outweigh the drawbacks. The platform has done an excellent job in tackling some of the pressing issues that are currently downgrading the growth of the Defi ecosystem.

For one, it makes way for more liquidity, as this is something that the DEX space has suffered from in recent times. This lack of liquidity is largely a result of a fragmented DEX arena.

As such, large-volume trades suffer from significant slippage – resulting in high costs for trade execution.

1inch Exchange solves this by splitting the orders across multiple exchanges – yet keeping the trade to one transaction.

But above all, it gives you an easy solution to compare the rates offered across different decentralized exchanges. You can review the price and liquidity on each platform, along with the respective gas fee.

For a seasoned trader, this can save a significant amount of time wasted by assessing multiple exchanges and their order books.

1inch Exchange Exchange: The Verdict?

As we have discussed in this review, liquidity continues to be a significant concern on decentralized exchanges. 1inch Exchange has done an excellent job in solving this issue.

Additional endeavors, such as the CHI Gas Token and the Mooniswap tool, are also notable.

That said, the platform is more suited for traders with a bit of experience in the DEX scene.

Ultimately, if the platform adapts itself to investors across all levels, THEN 1inch Exchange could emerge as one of the leading trading platforms for the rapidly evolving DEX ecosystem.

Visit 1inch Exchange

The post 1inch Exchange Review: A Leading DEX Aggregator appeared first on Blockonomi.

Altrady Review: The Only Cryptocurrency Trading Tool you Need?

Altrady Review

Anyone who is remotely interested in trading is in search of the best tools to simplify the process. The more features a tool can pack, the better.

Altrady is one of our latest finds our quest for an all-in-one trading tool. In this case, one with a focus on cryptocurrencies. Whether you are looking to trade across multiple exchanges, monitor your performance, or find ways to improve your trading strategies, Altrady offers a comprehensive solution for all your pain points.

Though the features are plenty, the question as always is how well they stay true to their promises. In this review, we will zoom into the capabilities of Altrady and how a trader can use it to minimize their efforts.

Visit Altrady

Altrady at a Glance

The story of a beginner trading struggling with their trading ventures is not a new one. However, Altrady founder Benoist Claassen decided to do something about it and created a solution for himself.

Those familiar with the cryptocurrency trading arena might already be aware of its first venture – the Crypto Base Scanner. The application analyzes coin markets and has received encouraging feedback from the trading community. Altrady, in many ways, is an upgrade to this scanning tool. The end product boasts several new features to give a well-rounded experience to users.

 all-in-one cryptocurrency trading software
All-in-one cryptocurrency trading software

As it goes, Altrady was designed by traders themselves to make cryptocurrency trading accessible to everyone. The platform will help you build your trading skills and strategies while adapting to your demands as you climb up the investment ladder.

In effect, Altrady is an intuitive and easy-to-use cryptocurrency trading software tool that can address all the necessities and more. So what exactly does the tool offer? You can sum it up as:

  • Ability to perform trades at anytime
  • Integration with ten cryptocurrency exchanges
  • Real-time access to the informative details of the volatile cryptocurrency market
  • Hassle-free trading by employing bots
  • Develop strategies using the Advanced Crypto Scanning Technology

Crucially, you can utilize all this through the platform’s website, as well as its mobile app. The interactive and personalized app ensures that you do not miss any lucrative trading opportunities.

Features of Altrady

Here’s a break down of the more notable features offered by Altrady.

Layouts

The interface might be where Altrady outshines other trading platforms of this genre. The tool gives you total control over the layout to suit your trading preferences. Each of its features are individual widgets, which you can move around, reorder, and align.

The result is a tailored and organized dashboard where you can find anything you need exactly where you want it.

Scaled Ladders

The interface design also allows you to set up multiple orders at the same time using Scaled Ladders. You can adjust the prices and sizes along with the scales to fine-tune your orders.

Trading Screen
Trading Screen

Portfolio Manager

To keep track of your successes and failures, you need to keep track of your portfolio. Altrady has a beautiful portfolio dashboard, that helps you to keep track of all your holdings.

Trading Analytics

Every successful cryptocurrency trader has a reliable and robust way of analyzing the market, and most importantly, surf through its waves. Altrady comes equipt to do this analysis for you and can even act as your reference book for trading.

The platform gives you access to coin market charts, along with detailed information on your chosen pairs. This way, you can keep tabs on how a specific cryptocurrency is performing on a particular exchange. The data will reflect the price drops, bounces, bases, and when the value returns back to the base.

Altrady has also included a News Widget that will keep you informed of recent developments in the cryptocurrency industry, so you always have the right info at your fingertips.

Positions

For every new trade you place, Altrady will open a new position and calculate your profit against the current price. The more you buy, the further your position will hike, and the break-even point will be adjusted accordingly.

The same applies when you start selling a coin as well. The tool will update your break-even point until you fully recover and have sold the remaining asset.

These positions are determined using the Break-Even Calculator, which lets you know whether you are still profiting or losing. There is no need for you to manually calculate your trades anymore.

You can find all relevant data such as the:

  • Market name and the exchange account
  • The date when the position was opened
  • Whether it is a long or short side
  • The amount invested
  • The number of coins
  • The average price
  • Mark and liquidation price for futures
  • Progress bar, and
  • P&L column in USD and quote currency

You can also manually handle this by creating a new position, or adjusting the dates, and switching between the positions. As you see, it is an elaborate and comprehensive means of keeping tabs on your trades and wider market movements throughout the day.

Quick Scan

The quick scan widget is to help you identify markets that suddenly witness a price change, either in the form of a rapid drop or rise. You can set up your filter based on the time frame, rise, drop, the specific markets, and exchanges.

You can save these filters as presets and enable or disable them as needed to receive only the relevant alerts.

Smart Trading

The latest update that was rolled out on Altrady is the Smart Trading feature. This uses innovative cryptocurrency trading technology to place orders automatically – including take profits and trailing stop orders.

The take-profit strategy allows you to put a standing order above the selling price, so you can sell your assets during a price hike and earn profits. Closing the order will ensure that you are protected if the market turns upside down.

The trailing-stop order, on the other hand, pursues favourable market conditions. The mechanism automatically changes the closing value whenever there is a favourable change in the market price.

As you are aware, even with access to full market analysis, it is time-consuming and tiring to adjust and readjust your orders based on current market performance.

With smart trading, now Altrady will take care of this task for you using pre-configured parameters. Once you place an order, the tool will follow the latest price and adjust your limit orders accordingly.

You can integrate this feature to all the exchanges on the platform, including Binance US and Binance Futures.

Moreover, any updates on your trades, how well they are performing, or whether you are profiting will automatically be updated through the app. The Altrady portfolio manager offers you a dynamic view of your assets, so you can easily keep track of your smart trades.

Journaling

One of the most useful features of Altrady is the ability to personalize with notes. You can attach journal entries of your thoughts, attach screenshots, or any other data you want to jot down for later reference.

This is indeed quite handy considering you do have to maintain another log for any trading notes.

Altrady Pricing

You can sign up on the website for free and access their full services for 14 days. This comes with a few limitations that allow you to connect to only one exchange account and receive only 25 custom alerts.

However, the trial should give you a fair idea of what the all-round benefits of the platform are. If and when you want to subscribe, you have three options.

Altrady Pricing
Altrady Pricing

Signals Only at €12.95 per month

This plan only gives you access to trading signals on Apex Trader, Crypto PHP, Nefertiti, and Zignaly.

Trading at €19.95 per month

You will get access to the above signals along with trading, portfolio management, positions, and the mobile app. As an introductory bonus, you can also avail of the smart trading feature for a limited time.

Advanced at €29.95 per month

This covers all features of the Trading package and a few other functionalities such as trading analytics, base scanner, quick scan, and developer API.

The above packages are also available for a single purchase as three-month, six-month, or annual plans. These will get you an additional discount of 10%, 20%, and 30% respectively. As these plans are billed annually, you get more value for your money with the long term plans.

Altrady Crypto Trading Academy

Altrady has also introduced a wealth of resources for its trading users. The platform offers comprehensive guides for all its partnered products and provides step-by-step instructions on to set up the software.

Trading Academy
Trading Academy

You can also contact the support team directly through email.

Altrady Review: The Verdict?

Altrady arguably has an extensive set of functionalities for cryptocurrency traders. These features work well together, addressing every aspect of trading. The software can do most of the legwork, saving you considerable time in researching the markets yourself.

Trades are carried out by connecting your exchange AP, making it safe and secure. The interface is also easy-to-use, whether you are a beginner or a professional in the trading arena. And we would also like to give bonus points for the customizable layouts.

All in all, Altrady is an excellent product that should appeal to most cryptocurrency traders. The only downside is that you will have to go for the Advanced package if you want access to all of its features. But, at €30 a month at the most, this does offer good value.

Visit Altrady

The post Altrady Review: The Only Cryptocurrency Trading Tool you Need? appeared first on Blockonomi.

CLEO.one Review: Crypto Trading Bot Platform for Automated Strategies

CLEO.one Review

Many people have considered attempting the art of trading at least once. After all, it comes with the promise of wealth and sophistication. However, the inherent volatility of the market, the threat of loss and the lack of resources are often the dissuading factors.

And then, there are those who try to find opportunities even in the risks of a plummeting market. Their secret is considered to be  their understanding of the marketplace or the so-called ‘gut feeling’. On the contrary, seasoned traders rely on a set of strategies that have empowered their decisions and improve the chances of profitability.

As more and more people are considering the trading market for passive income, there is an increasing demand for tools available in the trading niche.

If you don’t have the required time to build your trading knowledge – it might be worth considering an automated trading bot. This technology  can help you strategize better and thus – give you the best chance possible of making consistent gains.

In this article, we are looking at CLEO.one – one of the most promising trading bot platforms that can simplify the complex aspects of trading in an autonomous manner and lets you try out different strategies quickly, providing statistics and insights.

Visit CLEO.one

What is CLEO.one?

In simple terms, Cleo.one is a financial technology provider that supplies powerful tools to tackle the trading market. The product is the brainchild of experience trader Kevin Grulich and Martin Kessner.  The duo concluded that tools available in the market were inadequate for the newbie investor.

A while ago, it was nearly impossible to create a bot that analyzed more than just price movements. You needed to do significant research to develop automated strategies that can be used in multiple scenarios.

With the strength of expertise in data architecture, algorithmic trading, machine learning, and capital market – CLEO.one serves as a user-friendly platform that has dramatically simplified trading strategies.

In other words, it gives you the ability to develop and test crypto bots. Furthermore, the tool provides you with insights that can help you not only make consistent wins – but help you attain financial freedom.

The most impressive part is that the platform appeals to both novices and seasoned traders. It is easy and straightforward to set up strategies, and most importantly, is suitable for trading crypto, forex, and stocks.

What can you do with CLEO.one?

The platform offers you a wealth of data to analyze and formulate your trading game plan.

Here is an overview of what you can do with CLEO.one:

  • Create strategies for crypto, forex, or equities
  • Work out strategies based on price action, BTC dominance, indicators, and more
  • Perform back-tests for your strategy.
  • Automate strategies on exchanges that support crypto trading bots
  • Perform manual trades with solid risk management.
  • Access paper trading facilities
  • Reduce trading risks with simultaneous trailing stop-loss and take-profit orders
  • Use free and profitable pre-tested strategies

Unlike other providers in the space – which simply provide trading signals and thus – often leave you confused about the next course of action, CLEO.one provides all details you need to set up your own trading bot.

How to Create a new Strategy With CLEO.one

A major selling point of CLEO.one is how organized its interface is for users to be able to create a strategy with ease. The interface is quite intuitive and easy to navigate too, with usability at its forefront.

Even if you have never used a trading bot before, you can create one efficiently on this platform. All data available is from top financial institutions, scrutinized by experts to ensure accuracy.

Users can choose between equity, forex, and crypto to create their strategies. Here you can set up pre-defined conditions, trading pairs, and at what point the position should be executed.

There are hundreds of parameters and trading pairs to choose from as well. CLEO.one gives you total control with considerable flexibility to arrive at your own strategies.

To give you a glimpse of your options:

  • Technical indicators, candlestick patterns, price action, crypto fundamentals, and more.
  • Numerous ways to set position amounts such as static numbers, up by, down by, crossing up, crossing down, and more.
  • You can adjust asset and money management by setting take-profit or stop-loss orders based on market price, percentage of market price, percentage of current balance, or static amount.

You can do all these not only for a single asset but for as many assets instruments you like. At the moment, there are over 40 forex pairs, hundreds of crypto trading pairs, and over 80,000 US equities offered on the site.

Instead of having to code or program your way into a trading bot, all you need to do is input your ideas. You can then proceed to the back-test stage, and your strategies are converted to trading bots.

If and when you are happy with how your formula has been performing, you can automate these strategies as crypto trading bots  as well. If not, there is also the manual trading option available.

Note: As you will be saving your strategies on the platform, there is a necessity to verify that no one else has access to your ideas. CLEO.one ensures that your strategy is entirely your intellectual property, and their legal obligations prevent them from sharing this or using it elsewhere.

Free Strategies

Apart from the ability to create your own strategies, CLEO.one also gives you free access to tested strategies. There are six strategies in total that work for equities, forex, and cryptocurrencies.

These have been designed based on fundamentals and popular indicators. You can also base your personal strategy on one of the free methods by editing them until it fits your trading goals. Once done, you can run them as fully-fledged trading bots.

Support for Cryptocurrency Trading Exchanges

Currently, CLEO.one offers exchange support only for cryptocurrency trading.

There are five exchanges supported, which are:

  • Binance
  • US
  • Butfinex
  • HitBTC
  • Coinbase Pro

The support for all these exchanges is constantly improving, and you can expect seamless integration in the future.

CLEO.one Pricing

The platform features a pricing model that can match your personal needs and budget. You can choose to pay monthly or annually, giving you a considerable discount on the overall charges.

Free Account with Binance

At the time of writing, CLEO.one has an exclusive package when you sign up with Binance.

If you have already created a Binance account;

  • after 21st July 2020, and
  • without a referral code,

you have the opportunity to avail the Cleo.one service for free.

Users of CLEO.one can sign up for free with Binance and take advantage of the trading platform by combining your trading bots’ features.

You can connect your Binance account with CLEO.one through your API. Once the verification is complete, you can choose either to execute automatic trades or switch to manual trading.

This free plan also allows you to perform 10 real-time live trading strategies and unlimited qualified manual trading. You also get to create strategies with a maximum of 3 assets per rule.

Along with the other core functionalities, you also get access to historical data – covering 5 years of forex and 15 years of equities.

Starter

  • 69 euros per month on the monthly plan
  • 49 euros per month on the yearly plan

If you do not want to opt for a Binance account, then this is the first tier of subscription at CLEO.one. Apart from that, all features of this plan remain the same.

You get 100 backtests and 3 assets to work with. The notable difference is that you get to set 10 rules per strategy in place of 3. The plan comes with 10 real-time paper trading strategies.

Trader

  • 199 euros per month on the monthly plan
  • 149 euros per month on the yearly plan

With the Trader plan, you can execute 50 real-time live trades and 500 backtests for your strategies. The biggest perk here is that you get to assign unlimited rules per strategy – though there is a limit of 10 assets per rule.

You also get access to all available historical data of crypto, forex, and equities. There is also the option to test out paper-trading with up to 50 strategies.

Trader Pro

  • 349 euros per month on the monthly plan
  • 249 euros per month on the yearly plan

The most expensive plan gets you 100 real-time trading strategies and 1,000 backtests. You can use 30 assets per rule to create strategies with unlimited rules.

All aforementioned features of the Trader plan also apply here, along with connectivity to unlimited exchanges. You will also be able to engage in paper trading with 100 strategies.

How Safe is CLEO.one?

The platform emphasizes that it is not selling strategies. Instead, it gives traders all the necessary tools to invest in their skills with access to unparalleled data and flexibility. The technology itself is focused on helping you achieve long-term profitability.

With that in mind, you are not required to transfer any funds to the platform at any time other than for subscriptions. Your integration with exchanges is handled through an API, and so your funds will remain with the respective platform.

Crucially, the CLEO.one bot has restricted access that does not extend to your funds. The trading bot can execute a trade on your behalf, but cannot deposit or withdraw money or other assets.

As an extra precaution, CLEO.one also has state-of-the-art encryption in place to protect your personal data.

Documentation and Support

Though CLEO.com has been active for several years, the platform is still polishing up some of its newest features. This includes forex and equity bots. Its tools are supported by extensive documentation and tutorials that come with demos on how to use its different functionalities.

Though they do not cover every nook and cranny, these guidances offer everything required for you to start using the tools.

Aside from this, a contact form is also available for you to get in touch with the customer support team. The live chat interface can also redirect you to tech support or help you find resources within the site.

CLEO.one – Where it Scores

CLEO.one is unlike any other platform you will have come across. Although there are other systems that enable strategies and usage of bots, they typically require you to have coding knowledge. Furthermore, they are not always beginner-friendly.

In that regard, the ability to create strategies merely by typing your rules is the highlight of CLEO.one. It offers unrivalled flexibility and allows you to test them straight away without risking your funds.

There is also a myriad of parameters to base your strategies on, and defining these rules is straightforward. If you have any trouble getting started, the free strategy is a bonus to build your plans on. For those who do not want to look over every trade manually, automation is also a great feature.

Altogether, from what we have seen, CLEO.one has tremendous potential that can help you establish your trading career with confidence. Some of the most-awaited features, such as leveraged trading, are still in beta mode. As the platform is working on them, it leaves plenty of scope for features that can raise the performance level of the tool.

CLEO.one – The Verdict?

CLEO.one is a unique trading application with ever-growing features. The platform delivers all tools you need to create endless, profitable strategies. If you have ever been discouraged by the confusing signals and hard-to-navigate interface of other automated platforms, CLEO.one is very refreshing.

The tool has beautifully presented features that show comprehensive results. You can look at statistics and analytics with actionable insight. And most importantly, CLEO.one can help you take the guesswork out of trading by testing what strategies work for you.

The software is building on its current features to include marketplaces, futures trading, and more. It is not far-fetched to predict that, in the very near future, CLEO.one will evolve into a full-fledged trading tool apt for investors of all levels.

Visit CLEO.one

The post CLEO.one Review: Crypto Trading Bot Platform for Automated Strategies appeared first on Blockonomi.

CLEO.one Review: Crypto Trading Bot Platform for Automated Strategies

CLEO.one Review

Many people have considered attempting the art of trading at least once. After all, it comes with the promise of wealth and sophistication. However, the inherent volatility of the market, the threat of loss and the lack of resources are often the dissuading factors.

And then, there are those who try to find opportunities even in the risks of a plummeting market. Their secret is considered to be  their understanding of the marketplace or the so-called ‘gut feeling’. On the contrary, seasoned traders rely on a set of strategies that have empowered their decisions and improve the chances of profitability.

As more and more people are considering the trading market for passive income, there is an increasing demand for tools available in the trading niche.

If you don’t have the required time to build your trading knowledge – it might be worth considering an automated trading bot. This technology  can help you strategize better and thus – give you the best chance possible of making consistent gains.

In this article, we are looking at CLEO.one – one of the most promising trading bot platforms that can simplify the complex aspects of trading in an autonomous manner and lets you try out different strategies quickly, providing statistics and insights.

Visit CLEO.one

What is CLEO.one?

In simple terms, Cleo.one is a financial technology provider that supplies powerful tools to tackle the trading market. The product is the brainchild of experience trader Kevin Grulich and Martin Kessner.  The duo concluded that tools available in the market were inadequate for the newbie investor.

A while ago, it was nearly impossible to create a bot that analyzed more than just price movements. You needed to do significant research to develop automated strategies that can be used in multiple scenarios.

With the strength of expertise in data architecture, algorithmic trading, machine learning, and capital market – CLEO.one serves as a user-friendly platform that has dramatically simplified trading strategies.

In other words, it gives you the ability to develop and test crypto bots. Furthermore, the tool provides you with insights that can help you not only make consistent wins – but help you attain financial freedom.

The most impressive part is that the platform appeals to both novices and seasoned traders. It is easy and straightforward to set up strategies, and most importantly, is suitable for trading crypto, forex, and stocks.

What can you do with CLEO.one?

The platform offers you a wealth of data to analyze and formulate your trading game plan.

Here is an overview of what you can do with CLEO.one:

  • Create strategies for crypto, forex, or equities
  • Work out strategies based on price action, BTC dominance, indicators, and more
  • Perform back-tests for your strategy.
  • Automate strategies on exchanges that support crypto trading bots
  • Perform manual trades with solid risk management.
  • Access paper trading facilities
  • Reduce trading risks with simultaneous trailing stop-loss and take-profit orders
  • Use free and profitable pre-tested strategies

Unlike other providers in the space – which simply provide trading signals and thus – often leave you confused about the next course of action, CLEO.one provides all details you need to set up your own trading bot.

How to Create a new Strategy With CLEO.one

A major selling point of CLEO.one is how organized its interface is for users to be able to create a strategy with ease. The interface is quite intuitive and easy to navigate too, with usability at its forefront.

Even if you have never used a trading bot before, you can create one efficiently on this platform. All data available is from top financial institutions, scrutinized by experts to ensure accuracy.

Users can choose between equity, forex, and crypto to create their strategies. Here you can set up pre-defined conditions, trading pairs, and at what point the position should be executed.

There are hundreds of parameters and trading pairs to choose from as well. CLEO.one gives you total control with considerable flexibility to arrive at your own strategies.

To give you a glimpse of your options:

  • Technical indicators, candlestick patterns, price action, crypto fundamentals, and more.
  • Numerous ways to set position amounts such as static numbers, up by, down by, crossing up, crossing down, and more.
  • You can adjust asset and money management by setting take-profit or stop-loss orders based on market price, percentage of market price, percentage of current balance, or static amount.

You can do all these not only for a single asset but for as many assets instruments you like. At the moment, there are over 40 forex pairs, hundreds of crypto trading pairs, and over 80,000 US equities offered on the site.

Instead of having to code or program your way into a trading bot, all you need to do is input your ideas. You can then proceed to the back-test stage, and your strategies are converted to trading bots.

If and when you are happy with how your formula has been performing, you can automate these strategies as crypto trading bots  as well. If not, there is also the manual trading option available.

Note: As you will be saving your strategies on the platform, there is a necessity to verify that no one else has access to your ideas. CLEO.one ensures that your strategy is entirely your intellectual property, and their legal obligations prevent them from sharing this or using it elsewhere.

Free Strategies

Apart from the ability to create your own strategies, CLEO.one also gives you free access to tested strategies. There are six strategies in total that work for equities, forex, and cryptocurrencies.

These have been designed based on fundamentals and popular indicators. You can also base your personal strategy on one of the free methods by editing them until it fits your trading goals. Once done, you can run them as fully-fledged trading bots.

Support for Cryptocurrency Trading Exchanges

Currently, CLEO.one offers exchange support only for cryptocurrency trading.

There are five exchanges supported, which are:

  • Binance
  • US
  • Butfinex
  • HitBTC
  • Coinbase Pro

The support for all these exchanges is constantly improving, and you can expect seamless integration in the future.

CLEO.one Pricing

The platform features a pricing model that can match your personal needs and budget. You can choose to pay monthly or annually, giving you a considerable discount on the overall charges.

Free Account with Binance

At the time of writing, CLEO.one has an exclusive package when you sign up with Binance.

If you have already created a Binance account;

  • after 21st July 2020, and
  • without a referral code,

you have the opportunity to avail the Cleo.one service for free.

Users of CLEO.one can sign up for free with Binance and take advantage of the trading platform by combining your trading bots’ features.

You can connect your Binance account with CLEO.one through your API. Once the verification is complete, you can choose either to execute automatic trades or switch to manual trading.

This free plan also allows you to perform 10 real-time live trading strategies and unlimited qualified manual trading. You also get to create strategies with a maximum of 3 assets per rule.

Along with the other core functionalities, you also get access to historical data – covering 5 years of forex and 15 years of equities.

Starter

  • 69 euros per month on the monthly plan
  • 49 euros per month on the yearly plan

If you do not want to opt for a Binance account, then this is the first tier of subscription at CLEO.one. Apart from that, all features of this plan remain the same.

You get 100 backtests and 3 assets to work with. The notable difference is that you get to set 10 rules per strategy in place of 3. The plan comes with 10 real-time paper trading strategies.

Trader

  • 199 euros per month on the monthly plan
  • 149 euros per month on the yearly plan

With the Trader plan, you can execute 50 real-time live trades and 500 backtests for your strategies. The biggest perk here is that you get to assign unlimited rules per strategy – though there is a limit of 10 assets per rule.

You also get access to all available historical data of crypto, forex, and equities. There is also the option to test out paper-trading with up to 50 strategies.

Trader Pro

  • 349 euros per month on the monthly plan
  • 249 euros per month on the yearly plan

The most expensive plan gets you 100 real-time trading strategies and 1,000 backtests. You can use 30 assets per rule to create strategies with unlimited rules.

All aforementioned features of the Trader plan also apply here, along with connectivity to unlimited exchanges. You will also be able to engage in paper trading with 100 strategies.

How Safe is CLEO.one?

The platform emphasizes that it is not selling strategies. Instead, it gives traders all the necessary tools to invest in their skills with access to unparalleled data and flexibility. The technology itself is focused on helping you achieve long-term profitability.

With that in mind, you are not required to transfer any funds to the platform at any time other than for subscriptions. Your integration with exchanges is handled through an API, and so your funds will remain with the respective platform.

Crucially, the CLEO.one bot has restricted access that does not extend to your funds. The trading bot can execute a trade on your behalf, but cannot deposit or withdraw money or other assets.

As an extra precaution, CLEO.one also has state-of-the-art encryption in place to protect your personal data.

Documentation and Support

Though CLEO.com has been active for several years, the platform is still polishing up some of its newest features. This includes forex and equity bots. Its tools are supported by extensive documentation and tutorials that come with demos on how to use its different functionalities.

Though they do not cover every nook and cranny, these guidances offer everything required for you to start using the tools.

Aside from this, a contact form is also available for you to get in touch with the customer support team. The live chat interface can also redirect you to tech support or help you find resources within the site.

CLEO.one – Where it Scores

CLEO.one is unlike any other platform you will have come across. Although there are other systems that enable strategies and usage of bots, they typically require you to have coding knowledge. Furthermore, they are not always beginner-friendly.

In that regard, the ability to create strategies merely by typing your rules is the highlight of CLEO.one. It offers unrivalled flexibility and allows you to test them straight away without risking your funds.

There is also a myriad of parameters to base your strategies on, and defining these rules is straightforward. If you have any trouble getting started, the free strategy is a bonus to build your plans on. For those who do not want to look over every trade manually, automation is also a great feature.

Altogether, from what we have seen, CLEO.one has tremendous potential that can help you establish your trading career with confidence. Some of the most-awaited features, such as leveraged trading, are still in beta mode. As the platform is working on them, it leaves plenty of scope for features that can raise the performance level of the tool.

CLEO.one – The Verdict?

CLEO.one is a unique trading application with ever-growing features. The platform delivers all tools you need to create endless, profitable strategies. If you have ever been discouraged by the confusing signals and hard-to-navigate interface of other automated platforms, CLEO.one is very refreshing.

The tool has beautifully presented features that show comprehensive results. You can look at statistics and analytics with actionable insight. And most importantly, CLEO.one can help you take the guesswork out of trading by testing what strategies work for you.

The software is building on its current features to include marketplaces, futures trading, and more. It is not far-fetched to predict that, in the very near future, CLEO.one will evolve into a full-fledged trading tool apt for investors of all levels.

Visit CLEO.one

The post CLEO.one Review: Crypto Trading Bot Platform for Automated Strategies appeared first on Blockonomi.

CLEO.one Review: Crypto Trading Bot Platform for Automated Strategies

CLEO.one Review

Many people have considered attempting the art of trading at least once. After all, it comes with the promise of wealth and sophistication. However, the inherent volatility of the market, the threat of loss and the lack of resources are often the dissuading factors.

And then, there are those who try to find opportunities even in the risks of a plummeting market. Their secret is considered to be  their understanding of the marketplace or the so-called ‘gut feeling’. On the contrary, seasoned traders rely on a set of strategies that have empowered their decisions and improve the chances of profitability.

As more and more people are considering the trading market for passive income, there is an increasing demand for tools available in the trading niche.

If you don’t have the required time to build your trading knowledge – it might be worth considering an automated trading bot. This technology  can help you strategize better and thus – give you the best chance possible of making consistent gains.

In this article, we are looking at CLEO.one – one of the most promising trading bot platforms that can simplify the complex aspects of trading in an autonomous manner and lets you try out different strategies quickly, providing statistics and insights.

Visit CLEO.one

What is CLEO.one?

In simple terms, Cleo.one is a financial technology provider that supplies powerful tools to tackle the trading market. The product is the brainchild of experience trader Kevin Grulich and Martin Kessner.  The duo concluded that tools available in the market were inadequate for the newbie investor.

A while ago, it was nearly impossible to create a bot that analyzed more than just price movements. You needed to do significant research to develop automated strategies that can be used in multiple scenarios.

With the strength of expertise in data architecture, algorithmic trading, machine learning, and capital market – CLEO.one serves as a user-friendly platform that has dramatically simplified trading strategies.

In other words, it gives you the ability to develop and test crypto bots. Furthermore, the tool provides you with insights that can help you not only make consistent wins – but help you attain financial freedom.

The most impressive part is that the platform appeals to both novices and seasoned traders. It is easy and straightforward to set up strategies, and most importantly, is suitable for trading crypto, forex, and stocks.

What can you do with CLEO.one?

The platform offers you a wealth of data to analyze and formulate your trading game plan.

Here is an overview of what you can do with CLEO.one:

  • Create strategies for crypto, forex, or equities
  • Work out strategies based on price action, BTC dominance, indicators, and more
  • Perform back-tests for your strategy.
  • Automate strategies on exchanges that support crypto trading bots
  • Perform manual trades with solid risk management.
  • Access paper trading facilities
  • Reduce trading risks with simultaneous trailing stop-loss and take-profit orders
  • Use free and profitable pre-tested strategies

Unlike other providers in the space – which simply provide trading signals and thus – often leave you confused about the next course of action, CLEO.one provides all details you need to set up your own trading bot.

How to Create a new Strategy With CLEO.one

A major selling point of CLEO.one is how organized its interface is for users to be able to create a strategy with ease. The interface is quite intuitive and easy to navigate too, with usability at its forefront.

Even if you have never used a trading bot before, you can create one efficiently on this platform. All data available is from top financial institutions, scrutinized by experts to ensure accuracy.

Users can choose between equity, forex, and crypto to create their strategies. Here you can set up pre-defined conditions, trading pairs, and at what point the position should be executed.

There are hundreds of parameters and trading pairs to choose from as well. CLEO.one gives you total control with considerable flexibility to arrive at your own strategies.

To give you a glimpse of your options:

  • Technical indicators, candlestick patterns, price action, crypto fundamentals, and more.
  • Numerous ways to set position amounts such as static numbers, up by, down by, crossing up, crossing down, and more.
  • You can adjust asset and money management by setting take-profit or stop-loss orders based on market price, percentage of market price, percentage of current balance, or static amount.

You can do all these not only for a single asset but for as many assets instruments you like. At the moment, there are over 40 forex pairs, hundreds of crypto trading pairs, and over 80,000 US equities offered on the site.

Instead of having to code or program your way into a trading bot, all you need to do is input your ideas. You can then proceed to the back-test stage, and your strategies are converted to trading bots.

If and when you are happy with how your formula has been performing, you can automate these strategies as crypto trading bots  as well. If not, there is also the manual trading option available.

Note: As you will be saving your strategies on the platform, there is a necessity to verify that no one else has access to your ideas. CLEO.one ensures that your strategy is entirely your intellectual property, and their legal obligations prevent them from sharing this or using it elsewhere.

Free Strategies

Apart from the ability to create your own strategies, CLEO.one also gives you free access to tested strategies. There are six strategies in total that work for equities, forex, and cryptocurrencies.

These have been designed based on fundamentals and popular indicators. You can also base your personal strategy on one of the free methods by editing them until it fits your trading goals. Once done, you can run them as fully-fledged trading bots.

Support for Cryptocurrency Trading Exchanges

Currently, CLEO.one offers exchange support only for cryptocurrency trading.

There are five exchanges supported, which are:

  • Binance
  • US
  • Butfinex
  • HitBTC
  • Coinbase Pro

The support for all these exchanges is constantly improving, and you can expect seamless integration in the future.

CLEO.one Pricing

The platform features a pricing model that can match your personal needs and budget. You can choose to pay monthly or annually, giving you a considerable discount on the overall charges.

Free Account with Binance

At the time of writing, CLEO.one has an exclusive package when you sign up with Binance.

If you have already created a Binance account;

  • after 21st July 2020, and
  • without a referral code,

you have the opportunity to avail the Cleo.one service for free.

Users of CLEO.one can sign up for free with Binance and take advantage of the trading platform by combining your trading bots’ features.

You can connect your Binance account with CLEO.one through your API. Once the verification is complete, you can choose either to execute automatic trades or switch to manual trading.

This free plan also allows you to perform 10 real-time live trading strategies and unlimited qualified manual trading. You also get to create strategies with a maximum of 3 assets per rule.

Along with the other core functionalities, you also get access to historical data – covering 5 years of forex and 15 years of equities.

Starter

  • 69 euros per month on the monthly plan
  • 49 euros per month on the yearly plan

If you do not want to opt for a Binance account, then this is the first tier of subscription at CLEO.one. Apart from that, all features of this plan remain the same.

You get 100 backtests and 3 assets to work with. The notable difference is that you get to set 10 rules per strategy in place of 3. The plan comes with 10 real-time paper trading strategies.

Trader

  • 199 euros per month on the monthly plan
  • 149 euros per month on the yearly plan

With the Trader plan, you can execute 50 real-time live trades and 500 backtests for your strategies. The biggest perk here is that you get to assign unlimited rules per strategy – though there is a limit of 10 assets per rule.

You also get access to all available historical data of crypto, forex, and equities. There is also the option to test out paper-trading with up to 50 strategies.

Trader Pro

  • 349 euros per month on the monthly plan
  • 249 euros per month on the yearly plan

The most expensive plan gets you 100 real-time trading strategies and 1,000 backtests. You can use 30 assets per rule to create strategies with unlimited rules.

All aforementioned features of the Trader plan also apply here, along with connectivity to unlimited exchanges. You will also be able to engage in paper trading with 100 strategies.

How Safe is CLEO.one?

The platform emphasizes that it is not selling strategies. Instead, it gives traders all the necessary tools to invest in their skills with access to unparalleled data and flexibility. The technology itself is focused on helping you achieve long-term profitability.

With that in mind, you are not required to transfer any funds to the platform at any time other than for subscriptions. Your integration with exchanges is handled through an API, and so your funds will remain with the respective platform.

Crucially, the CLEO.one bot has restricted access that does not extend to your funds. The trading bot can execute a trade on your behalf, but cannot deposit or withdraw money or other assets.

As an extra precaution, CLEO.one also has state-of-the-art encryption in place to protect your personal data.

Documentation and Support

Though CLEO.com has been active for several years, the platform is still polishing up some of its newest features. This includes forex and equity bots. Its tools are supported by extensive documentation and tutorials that come with demos on how to use its different functionalities.

Though they do not cover every nook and cranny, these guidances offer everything required for you to start using the tools.

Aside from this, a contact form is also available for you to get in touch with the customer support team. The live chat interface can also redirect you to tech support or help you find resources within the site.

CLEO.one – Where it Scores

CLEO.one is unlike any other platform you will have come across. Although there are other systems that enable strategies and usage of bots, they typically require you to have coding knowledge. Furthermore, they are not always beginner-friendly.

In that regard, the ability to create strategies merely by typing your rules is the highlight of CLEO.one. It offers unrivalled flexibility and allows you to test them straight away without risking your funds.

There is also a myriad of parameters to base your strategies on, and defining these rules is straightforward. If you have any trouble getting started, the free strategy is a bonus to build your plans on. For those who do not want to look over every trade manually, automation is also a great feature.

Altogether, from what we have seen, CLEO.one has tremendous potential that can help you establish your trading career with confidence. Some of the most-awaited features, such as leveraged trading, are still in beta mode. As the platform is working on them, it leaves plenty of scope for features that can raise the performance level of the tool.

CLEO.one – The Verdict?

CLEO.one is a unique trading application with ever-growing features. The platform delivers all tools you need to create endless, profitable strategies. If you have ever been discouraged by the confusing signals and hard-to-navigate interface of other automated platforms, CLEO.one is very refreshing.

The tool has beautifully presented features that show comprehensive results. You can look at statistics and analytics with actionable insight. And most importantly, CLEO.one can help you take the guesswork out of trading by testing what strategies work for you.

The software is building on its current features to include marketplaces, futures trading, and more. It is not far-fetched to predict that, in the very near future, CLEO.one will evolve into a full-fledged trading tool apt for investors of all levels.

Visit CLEO.one

The post CLEO.one Review: Crypto Trading Bot Platform for Automated Strategies appeared first on Blockonomi.

Bitsgap Review: Cryptocurrency Trading, Arbitrage, Signals & Trading Bots

If you’re looking to trade digital currencies from the comfort of your home, you’ll need to ensure that you are using a platform that comes jam-packed with tools, insights, and of course – competitive fees and commissions.

With that said, seasoned traders will often make use of several exchanges to access specific markets and pairs, or take advantage of arbitrage opportunities. Moving from exchange to exchange can, however, be both cumbersome and time-consuming.

With that in mind, Bitsgap makes it possible for you to connect all your exchanges in one place. This comes with a plethora of plus-points – such as being able to execute arbitrage strategies with ease and deploy advanced bots to trade simultaneously across multiple platforms.

As such, Bitsgap has evolved to accommodate the many needs and expectations of cryptocurrency traders.

In this Bitsgap review, we explore everything there is to know about the cross-exchange services offered by the provider.

Visit Bitsgap

Bitsgap at a Glance

Bitsgap is advertised as a new way to trade across multiple exchanges, by finding the best rates and effectively managing your portfolio. The platform allows you to bring all of these elements under one roof, providing access from a single account at the click of a button. It has carefully designed features that will enable you to:

  • Quickly compare rates from heaps of digital currency markets
  • Trade and instantly switch between different exchanges
  • Keep track of your investments
  • Basic and advanced order types
  • Take advantage of the price difference between exchanges using arbitrage
  • Test your strategies out via a demo account facility without risking any capital

Currently, Bitsgap is integrated with 30 exchanges, including Binance, Kraken, Bitfinex, and more. Traders have access to 10,000+ cryptocurrency trading pairs and several technical indicators available to formulate your strategies. The platform offers an optimised and intuitive interface for both beginners and seasoned traders.

Bitsgap All-in-one trading platform
Bitsgap All-in-one trading platform

What can you do With Bitsgap?

Below we unravel some of the main features available at Bitsgap.

Trading

The trading section of Bitsgap features a sleek interface that is fully functional. In order to make your trading experience as smooth as possible, Bitsgap offers the following abilities and features:

  • TradingView charts
  • Over 100 technical indicators
  • Customizable chart types
  • Trade visualization through charts

The trading area features an interactive chart screen, including your recent trades and open orders. You can also manage your balance on each of your linked exchanges, track any open positions and view your trade history.

Trading Screen
Trading Screen

The interface allows you to easily switch between different exchanges by clicking on the platform name above the chart screen.

Bitsgap has also set up different trading orders to give you more control over your cryptocurrency trading endeavours.

  • Stop-Loss and Take-Profit Orders to limit your losses in the event your trade takes a turn for the worse.
  • Shadow Order that allows you to trade off the exchange’s order book – with orders executed only when your set price is reached. The order will exist solely through the instructions sent via API but will be hidden from other traders.
  • Stop Limit Orders are executed at a set price, upon which the order is considered as a limit order to buy or sell at the limit price.
  • Market Orders lets you execute orders instantly at the best market price available.

In addition, Bitsgap also provides a set of analytical trading tools to research the performance of all popular trading pairs. You can integrate the option of setting a time frame, choosing a chart style and work alongside various indicators.

Cryptocurrency Trading Bot

The Bitsgap trading bot is a unique feature that lets you make the most of the highly volatile cryptocurrency marketplace. The bot ensures that your investments are distributed proportionately within your chosen range, so you can make small but frequent profits on every market move. Once the price hits the desired range, orders are executed, and new ones are placed.

The bot will ensure that based on current prices, your buy and sell orders are automatically adjusted to find the best opportunities. The most significant benefit here is that the bot carries out your trades instantaneously.

Cryptocurrency Trading Bot
Cryptocurrency Trading Bot

As such, you stand the chance of benefiting from even the smallest of price movements in the market –  while limiting your losses. Your investments are distributed based on the grid strategy, by dividing your price range into multiple levels or grids.

There are two bot strategies available on the Bitsgap platform. Firstly, the ‘Classic’ bot uses the same amount of the base currency equivalent in each grid. This means that at each level it buys and sells the same quantity of the base currency.

The ‘SBOT’ strategy buys and sells different amounts of the base currency at each grid level. However, it ensures an equal investment distribution as well.

In order to be able to use the trading bot service, you need to have a minimum amount of funds available. This amount is determined by:

  • The minimum order size of the selected pair in the respective exchange
  • The number of orders placed by the bot

Once you have connected your exchange API to the Bitsgap trading bot, you can choose the bot to work on the trading strategy of your preference. Bitsgap has already set up several pre-defined strategies proven through backtesting.

If you want to test out a new strategy or make sure that everything runs smoothly, the backtest feature can demonstrate how your bot would respond to market changes.

Since the trading bot can be used in combination with the other features, you will not be choosing between the platform’s two different options. Instead, it will increase your chances of profiting, while making the platform more appealing to users who place multiple trades on a daily basis.

Signals

Signals are how Bitsgap keeps you updated on significant market changes. These will notify you of the price anomalies. If there is any significant movement in the value of a cryptocurrency, you will be alerted. It will help you stay on top of all your trading pairs, and swiftly take action if the market goes in or against your favour.

Signals
Signals

Bitsgap has assembled data on the trends of different cryptocurrency trading pairs. If any coin starts to show an irregularity out of the ordinary pattern, it will be entered into the signal list. Furthermore, the platform also uses technical indicators to verify whether a rapid move could be considered a trading signal.

Bitsgap’s trading signals are highly useful to help traders set up the right stop-loss and take-profit orders to curb your risk. You can filter what constitutes a signal for you based on signal strength, raise percentage, exchange and the time.

Crypto Arbitrage

Trading across different exchanges might feel like a complicated task. However, it can be highly beneficial in benefiting from arbitrage opportunities.

For instance, let’s say you are buying a cryptocurrency on one exchange where the price is lower. You stand to gain an advantage by selling the same amount of the same cryptocurrency on another exchange where the price is higher.

Arbitrage opportunities
Arbitrage opportunities

This is known as crypto arbitrage. Usually, it is a set of cryptocurrency trading orders of the same pair that takes place at the same time, but on two different exchanges. While this may sound almost impossible to do manually, Bitsgap makes it look easy by combining the powers of its automated and AI-powered system.

At Bitsgap, the potential of arbitrage is calculated based on your account balance. You also get to choose between crypto to crypto and crypto to fiat arbitrage opportunities.

Taking into account the different fees and commissions charged by competing exchanges, Bitsgap will include this in its estimated profit percentage. This makes the process more efficient, allowing you to proceed with an arbitrage trade if the numbers stack up.

Bitsgap Portfolio

Another area where Bitsgap shines is in its extensive portfolio management feature. Each time you add the API key of an exchange, the trade portfolios become available at your disposal.

Portfolio management
Portfolio management

Your Bitsgap portfolio will:

  • Automatically update all transactions
  • Perform tracking based on your trading history
  • Make it easier to access all your crypto assets
  • Offer a real-time view of trades, performances and balances.

Above all, what is impressive is that you can extract these portfolios into your system. You can customize and filter the reports to view and reflect on your trades on particular exchanges.

Bitsgap Demo Account

It is important to stress the value of using a demo account when trading. As more new traders are venturing into the cryptocurrency trading scene, this particulate is getting more and more paramount.

The Bitsgap demo facility comes pre-loaded with simulated ‘paper money’ and will allow you to trade with zero financial risk.

Through the Bitsgap demo account, you can:

  • Gain access to 5 leading crypto exchanges
  • Practice trading with 5 BTC in virtual funds
  • Experience trading in live market conditions
  • Test out trading strategies
  • Try out signals, trading bots and arbitrage.

How Bitsgap Ensures Security

When trusting any service with your money, you have to be extra cautious in ensuring that your capital is in safe hands. Or not, in the case of Bitsgap.

The platform stresses that you and only you have access to your funds. Bitsgap has detailed out how it addresses security concerns in different areas.

Account Access

All login attempts are secured, and in case of an attempt from an unknown device or location, you will instantly receive an email. The system will also authorize a temporary lockout from both your API and account if there are repeated failed login attempts.

Furthermore, you are also encouraged to use 2FA for your Bitsgap account and your associated email ID. This will provide an additional layer of security on your funds and personal data.

Bitsgap Security
Bitsgap Security

API Keys

Your funds are secured in the respective exchange and connected only through your fully-encrypted API keys. These APIs allow Bitsgap to execute trades and gather information on your behalf. Other than that, the API does not yield any personal data.

All forms of information that is passed through are encrypted and protected by a firewall. In simple terms, this means that Bitsgap cannot view or extract sensitive information held by the exchange in question.

You are the one to decide the settings of your API key. If you have enabled withdrawal options, your API key will not be accepted. Your exchange wallet will hold the funds, and you cannot perform any withdrawals or deposits through Bitsgap.

Employee Security

Employees are given access only to their area of expertise. No account information and sensitive data is transmitted outside the company network, or to any third parties.

System and Server

Bitsgap uses RSA 2048 encryption on all its services. Generally, the majority of banks and other financial establishments use 1024-bit encryption, whereas Bitsgap emphasizes that they offer double the protection.

Bitsgap Pricing

Thinking of using Bitsgap? If so, you’ll have several plans to choose from – both free and paid-for.

Bitsgap Pricing
Bitsgap Pricing

Free Plan at $0

The free plan is, in fact, a trial plan available for usage for 14 days. All standard features are included in this plan, along with a $1,000 monthly trading limit. We highly recommend that you take advantage of this free trial to understand how the platform works before you opt-in for a paid version.

Basic Plan at $19 a Month

The basic account comes with all standard features and allows you to engage in unlimited exchanges. However, there is a trading limit of $25,000.

You also get access to your cross-exchange portfolio, and can set up trading signals and extended order types. The demo trading option is also available together with two active automated trading bots.

Advanced Plan at $44 a Month

This account gives you all perks of the basic plan, with a $100,000 monthly trading limit. There is also a boost in the number of active trading bots from 2 to 5. In addition, you can also benefit from the Bitsgap arbitrage services.

Pro Plan at $110 a Month

The Pro Plan is most suited for traders who are looking for unlimited limits across unlimited exchanges. You can also set up 15 active bots to trade in live market conditions. Pro Plan owners will also receive priority support.

Note: Bistgap does not charge any fees for any trades. All of its services are included in the monthly subscription fee. Any fees on transactions are imposed by the respective exchange you are trading on.

How to Start Using Bitsgap

Your trading journey at Bitsgap begins with three simple steps.

The registration process can be completed by entering your email ID and setting your password. You will only be required to confirm your email ID to finish the setup.

Additionally, you can also connect your account to Google or Facebook and gain access through your login credentials accounts of the respective platform.

The APIs can be obtained from your exchange accounts. All trading operations on Bitsgap is processed through your unique API key. It is one of the safest and most reliable ways to use any platform, as it does not authorize anyone else to gain access to your funds or data.

Is Bitsgap Worth Using?

It is worth noticing that Bitsgap has come a long way since its launch. The platform’s number one priority is to ensure that its features are up-to-date with industry standards, if not one step ahead.

Its API feature was taken to bridge the technological gap between exchanges, as well as increase efficiency and security. Where it lacks is in its resource department.

Though there is a dedicated Knowledge Base, it still fails to provide a comprehensive overview of how to use the software. That said, if you genuinely want to try the platform, then the free trial should give you a better understanding of how its features work.

You will need to have accounts set up at each exchange separately, meaning you will need to deposit funds into each platform. Bitsgap is not licensed by any regulatory bodies, so do bear this in mind.

However, there are some areas where Bitsgap truly shines.

  • Easy setup and integration with exchanges
  • Fully-automated trading bots
  • Secure trading with 2048-bit encryption
  • Extensive portfolio management
  • Receive trading insights
  • Availability of pre-defined market strategies
  • A long list of supported currencies and exchanges

Given that Bitsgap is aiming to make cryptocurrency trading more accessible, it would also be great to have a mobile app to access all services on the go.

Bitsgap: Verdict?

Cryptocurrency trading is now mainstream, meaning that there is a growing demand for technically-adept trading services. If you are looking for a combination of advanced trading tools, technical indicators and ease of use, Bitsgap is worth considering.

Overall, Bitsgap is a safe, secure and fully encrypted platform to trade with. The automated trading algorithm is clearly a standout benefit, which allows you to generate a steady flow of revenue with very little risk.

The platform also gives you several ways to control your trades through a variety of market orders and exit strategies.

Considering how far the platform has come, it is only fair to expect Bitsgap to introduce more resources in the future. All in all, you have very little to risk by trying the platform out via its 14-day free trial.

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The post Bitsgap Review: Cryptocurrency Trading, Arbitrage, Signals & Trading Bots appeared first on Blockonomi.

StocksToTrade Review: An All-in-One Stock Trading Platform

Stockstotrade Review

Stock Trading is a sector that has witnessed significant changes since the launch of the internet. Today, there are dozens of web applications and platforms designed to help newbie traders become seasoned professionals. The main stumbling block is finding a single application that can serve as a one-stop-shop for all your trading needs.

With that in mind, StocksToTrade claims to offer everything a budding trader would need to succeed in the stock market. The platform strives to help you quickly analyze and identify trading strategies. StocksToTrade claims that it can be your digital hedge fund manager that can not only facilitate trading decisions – but also offer you assistance in spotting the best making opportunities.

So how well does StocksToTrade hold up on its promises? In this review, we dive into what the platform offers from top to bottom to find out whether or not StocksToTrade can take your investing endeavours to the next level.

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What is StocksToTrade?

StocksToTrade is a research platform designed by traders for traders. The provider does not deliver trading and technical tools per-say. Instead, the platform has developed in-built algorithms and scanners to notify you of any potential opportunities in the market.

StocksToTrade Homepage
StocksToTrade Homepage

The trading screener can provide you with real-time data, which is a non-negotiable aspect of any trading strategy. StocksToTrade makes it possible for you to carry out trading from anywhere. The data software can give you all of the necessary data to strategize, as well as instant stock alerts to help you make quick moves.

The platform equips you with features such as:

  • Real-time data for all US equities
  • Access to major US markets including the NASDAQ, NYSE, AMEX, and OTC
  • Scans with multiple criteria
  • Charts with news indicators
  • Set up watchlists
  • Paper trading facilities

Overall, StocksToTrade has managed to curate the essentials to make your trading as efficient as possible. The platform is set up to match the expertise of traders at different levels. Beginners can use the basic manner while learning, and advanced traders have a selection of superior indicators and screening customizers to benefit from.

StocksToTrade Features

Screeners

One of the most notable features of StocksToTrade is its in-built scanners. The software comes with a number of predefined stock scans to recognize potential trading opportunities. The screeners allow you to create unlimited watchlists based on any strategies of your choosing.

The best part is that seasoned trading professionals on the platform have already created pre-built screeners as per the trading criteria they use daily. This is a particularly helpful feature for beginners to learn and locate opportunities.

Screeners
Screeners

Depending on the kind of trading you want to pursue, you can find screeners to include metrics like recent gains, bullish or bearish scans, and a number of other complex factors.

The visual layer of charting follows a clean layout, making it easy to define screening parameters and access them at the click of a button. For traders who prefer to do thorough technical analysis, the screener also has the ability to filter based on custom technical indicators.

Oracle Scanner

StocksToTrade has designed its Oracle scanner specifically to find stocks with high potential for movement in the market. This scanner runs 24/7 and gives you heaps of stock-related data that can help you identify potential market movers.

Oracle Scanner
Oracle Scanner

It calculates in real-time and provides Support and Resistance indicators for the stocks you are suggested to look into further. Oracle analyzes the past performance of different stocks to calculate which ones will show similar conditions.

The visual range will reveal whether the stock might go up or down, along with several other indicators that will help you make an informed decision.

News Ticker

Fundamental news that has the potential to impact the value of a stock investment is of prime significance on the trading floor. With this in mind, StockstoTrade keeps track of multiple financial news sources to provide you with a simplified version to cut down the clutter.

This straightforward and concise readout can help you revamp your trading criteria as you have the answers at hand.

You can quickly find information on different sectors, company news, earnings reports, SEC filings, and more. If you usually spend hours researching stocks, this particular feature can save you a significant amount of time.

There is no need to dig through webpages to find the information that is of relevance to you. It is also worth noting that unlike several other platforms in this marketplace, StocksToTrade offers both Level 1 and Level 2 data.

Broker Integration

StocksToTrade is primarily a trading platform that works without a broker. However, if you already have a trading account, then the Broker Integration is a feature that is likely to be beneficial to you.

This is because the platform allows you to trade US securities while passing on all order information and communication directly to your broker. This correspondence is run through the broker’s respective API, upon which it is the broker’s responsibility to execute your trades and provide you with updates.

Broker Integration
Broker Integration

At the time of writing, StocksToTrade offers integration with ETrade, Tradier Brokerage, and Interactive Brokers. There are also plans for TradeStation, T.D. Ameritrade, and RobinHood to integrate with the platform in the near future. There is no additional fee for broker-integration as this is included in your subscription.

If you are yet to open a brokerage account, StocksToTrade has teamed up with Tradier to offer you exclusive packages. This is charged at $14.99 a month for unlimited orders and a low minimum requirement of $500.

Get a Stock Trading Mentor

Before the internet came along, learning how to trade effectively was a strenuous process with little assistance on offer. This isn’t the case at all with StocksToTrade, as the platform has set up its very own ‘STT University’.

This includes a plethora of resources in terms of blogs, podcasts, and videos. You can learn how to use the STT system, including all of its features. The team also offers tips on how to use its various tools to help plan your trading approaches.

An additional feature worth noting is that of the ‘SteadyTrading’ team. Headed by Tim Bohen – the individual is well known in the online trading space. There are webinars and blogs released on different elements of trading every single day.

Ultimately, STT University offers a wealth of information for any trader, be it a newbie or a seasoned professional.

StocksToTrade Pricing

StocksToTrade offers two subscription plans – monthly and annual. However, the platform also gives you the chance to try out its features with a trial plan at a small cost.

StocksToTrade Pricing
StocksToTrade Pricing

Trial Plan at $7 for 14 days

  • Find stocks and research IPOs
  • Generate watchlists based on your trading style and preferences
  • Trade from StocksToTrade by integrating with your broker

Monthly Plan at $179.95

  • Monitor stocks and potential trades
  • Research tools to scan, screen, plan and perform trades
  • Receive real-time data
  • Access to built-in and customizable features
  • Execute trades through brokers
  • Access to StocksToTrade University

The Annual Plan is charged at $1,899.50 and comes with all product features listed above. If you are in it for the long run, then this plan is worth considering.

While the monthly and annual plans offer all core features, StocksToTrade gives you the option to add additional tools.

You can choose to upgrade your account with the following:

Small-Cap rockets Newsletter

$50 monthly and $500 annually

Oracle Daily Direction Alerts

$97 monthly and $970 annually

TipRanks Trading Sentiment

$8.95 monthly and $89.5 annually

Breaking News Chat

$49 monthly and $490 annually

Level 2 Data

$29 monthly and $345 annually

If you are a serious trader looking for data points from multiple sources, these add-ons could be of high value to gain additional insights into different markets.

Should you Use StocksToTrade?

StocksToTrade is an apt way to invest in the somewhat volatile arena of stocks. It will help you identify potential profit-making opportunities across several marketplaces.

At first glance, the platform’s layout might seem a little overwhelming for beginners. However, once you are accustomed to the way things work, you will find that the platform gives you seamless access to technical analysis and help you plan your personal strategies.

Benefits of StocksToTrade

  • Gives you the ability to scan any strategy or choose from proven criteria
  • Flexibility to take pre-built scan setups and use it to build your trading habits
  • A wide variety of tools that will help you become a profitable trader
  • Oracle Screener and Level 2 data availability
  • Ability to customize watchlists, news, and stocks

StocksToTrade Review: The Verdict?

StocksToTrade offers some of the tools required to help navigate your way through the ups and downs of the stock market.  It will alert you when key developments arise and allow you to make smart decisions in real-time.

The platform was designed specifically for advanced technical traders in mind. That said, it also encourages beginners to learn and take advantage of its resources to help them take their trading endeavors to the next level.

Visit StocksToTrade

The post StocksToTrade Review: An All-in-One Stock Trading Platform appeared first on Blockonomi.

LonghornFX Review: Forex & CFD Trading Platform

If you want to buy and sell assets online, you will need to find a reliable trading platform that meets your investing goals. You’ll need to ensure the platform offers low fees, heaps of tradable assets, and a top-notch customer support team.

LongHornFX – an online forex and CFD trading platform, claims to meet the aforementioned requirements.

You’ll be able to buy and sell a full range of financial instruments – including but not limited to stock CFDs, indices, hard metals, cryptocurrencies, and of course – forex pairs. Best of all, you will have access to leverage facilities of up to 1:500, which is huge.

But, is the broker right for your trading needs?

In this LonghornFX review, we cover the platform from top to bottom. This includes key metrics surrounding fees, commissions, payments, support, and more.

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What is LonghornFX?

LonghornFX is an online trading platform that offers a variety of financial instruments. This covers forex, cryptocurrencies, commodities, stocks, and indices. Each asset class is traded via a CFD instrument, meaning that you will have the capacity to place both buy and sell positions.

You will also have access to leverage, which stands at a whopping 1:500. LonghornFX allows you to trade via the hugely popular third-party platform MetaTrader4 (MT4).

Trade Forex, Cryptos and Stocks with up to 1:500 Leverage
Trade Forex, Cryptos and Stocks with up to 1:500 Leverage

This will be of interest to those of you that want access to heaps of technical indicators, chart drawing tools, and the ability to deploy automated trading robots. The MT4 platform can be accessed online, via desktop software, or through a mobile application.

In terms of fees, LonghornFX claims to offer ultra-competitive spreads and commissions. Regarding the latter, this stands at a flat rate of $6 per traded lot.

When it comes to funding, you can deposit and withdraw funds with a debit or credit card, which is facilitated by an external payment processor. This will, however, be converted to Bitcoin and then sent to your account. Alternatively, you can directly fund your account with Bitcoin.

What can you Trade at LonghornFX?

LonghornFX is a multi-asset broker that gives you access to over 180 financial instruments. As the name suggests, this includes a fully-fledged forex trading facility.

This includes most majors and minors, and an extensive selection of exotic pairs. This means that you can trade emerging currencies such as the South African rand (ZAR), Turkish lira (TRY), and the Mexican peso (MXN).

On top of forex, you can also trade:

Cryptocurrencies

If you want to speculate on the future value of cryptocurrencies, LonghornFX has you covered.

This includes fiat-to-crypto pairs such as BTC/USD, ETC/USD, and XRP/USD. You can also trade crypto-cross pairs – such as ZEC/BTC, XRP/BIT, and NEO/BTC.

Trade Crypto
Trade Crypto

Stocks

LonghornFX also offers a selection of stock CFDs. This covers some of the largest companies on the NASDAQ and NYSE.

For example, you can enter buy and sell positions on Amazon, Apple, Facebook, IBM, Tesla, and more. Unlike traditional share dealing services, stock CFDs allow you to go both long and short.

Indices

Indices are great for speculating on the wider stock markets. At LonghornFX, you can trade 11 indices. This includes the NASDAQ 100, FTSE 100, Dow Jones 30, and Hong Kong 50.

Commodities

You can also trade a number of commodities at the platform. This covers hard metals like gold and silver, as well as energies such as oil and natural gas.

All in all, LonghornFX offers a comprehensive list of assets that should suit most online traders.

Assets
Assets

Trading Fees and Commissions

When it comes to trading fees and commissions, LonghornFX offers a simple pricing structure. Put simply, you will pay $6 per traded lot. As is industry-standard, you will pay this at both ends of the trade.

In other words, you’ll pay $6 per lot when you enter your position, and again when you close it. This is actually very competitive, even for those of you that wish to trade with small stakes.

Spreads

In terms of spreads, this will, of course, vary depending on the financial instrument that you are trading. As LonghornFX claims to offer ‘narrow’ spreads, we sought to explore this in more detail.

We found that on major asset classes, the platform is true to its word. For example,

  • EUR/USD and USD/JPY can be traded with spreads of 0.6 pips and 0.7 pips, respectively. This is competitive.
  • Then, you have the likes of BTC/USD at 23.6 pips, and ETH/USD at 0.34 pips.
  • The commodity department is even more competitive at LonghornFX. For example, gold can be traded with a spread of just 1.9 pips.
  • UK oil and US oil CFDs come with spreads of 0.9 pips and 1 pip, respectively. Again, this offers great value.

All in all, if you’re looking for an online platform that offers a low-cost entry to trading, LonghornFX has you covered.

Trading Platforms at LonghornFX

As we briefly noted earlier, LonghornFX offers its trading platform via MetaTrader 4 (MT4). This is one of the most utilized third-party trading platforms in the online space, as it comes jam-packed with features and tools.

For example:

  • MT4 offers heaps of technical indicators. This is crucial for analyzing charts in real-time and searching for pricing trends.
  • You can fully customize your trading screen, which includes the ability to view multiple charts.
  • MT4 allows you to install automated trading robots and Expert Advisors (EAs). This allows you to buy and sell assets in a fully passive manner.
  • You will have access to a huge selection of market order types. This ensures that you are able to deploy your chosen trading strategy.

The LonghornFX trading platform can be accessed via its web trader, desktop software, or through an iOS/Android app. Regarding the latter, this ensures that you can buy and sell assets no matter where you are located.

MetaTrader 4
MetaTrader

On top of support for MT4, it is important to note that LonghornFX offers Straight Through Processing (STP), meaning that you will have access to some of the largest liquidity providers in the trading arena.

Payments

In terms of funding your account, LonghornFX offers two options. Firstly, for those of you that wish to use an everyday payment method, you can deposit funds with a debit or credit card.

However, and as noted earlier, you are effectively buying Bitcoin through a third-party payment processor. The funds will then be added to your LonghornFX account.

Alternatively, if you already have Bitcoin (or you wish to purchase some from an external broker), you can fund your account by transferring the coins into your LonghornFX wallet.

When it comes to account minimums, you’ll need to add at least $50 when using a debit/credit card. If depositing funds with Bitcoin directly, then it’s just $10. Either way, this ensures that you are able to trade with small amounts.

LonghornFX notes that withdrawals are typically processed on a same-day basis. This is much faster than most trading platforms active in the space, which often require 1-2 working days to process the cashout.

Once the request is authorized, the Bitcoin will be sent to your private wallet. The minimum withdrawal amount is $10.

Leverage Facilities

One of the stand-out features of using LonghornFX is that you will have access to huge leverage facilities.

This will be of particular interest to those of you based in the UK or Europe – as you are bound by the limitations imposed by ESMA. This permits maximum leverage of just 1:2 on cryptocurrencies and 1:30 on majors forex pairs.

In the case of LonghornFX, you can trade with leverage of up to 1:500. The specific amount will vary depending on your chosen asset class – as listed below.

  • Forex: 1:500
  • Metals: 1:500
  • Indices: 1:200
  • Energies: 1:200
  • Crypto: 1:200
  • Stocks: 1:20

To give you an idea of what leverage of 1:500 offers, a $100 account balance would permit a maximum trade value of $50,000. You do, however, need to tread with caution – as you always run the risk of being liquidated if the trade goes against you.

Customer Support

When it comes to customer support, LonghornFX excels. Crucially, you have three support channels that you can choose from  -all of which operate on a 24/7 basis.

This includes a live chat facility. When we tested it out ourselves, we were connected to a live agent in just a few seconds.

You can also request a call back if you prefer to speak with somebody over the phone. Alternatively, you can send the team an email if you are not looking for an instant response.

Easy Signup
Easy Signup

LonghornFX Review: The Verdict?

In summary, LonghornFX is an online trading platform well-worth considering. You will have access to heaps of asset classes, and fees are low and consistent at just $6 per lot.

You will also benefit from tight spreads and the ability to apply leverage of up to 1:500.

Best of all, the broker allows you to trade via trusted platform MT4. This can be accessed online, via software, or through an iOS/Android app. The only chink in the armour is that LonghornFX is not licensed. On the flip side, this does give the platform the remit to offer you huge leverage limits – which otherwise wouldn’t be possible with a regulated broker.

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The post LonghornFX Review: Forex & CFD Trading Platform appeared first on Blockonomi.

Mexo Review: A New Cryptocurrency Exchange for Mexico & LATAM

Mexo, a newly launched cryptocurrency exchange platform, is now open to the public after its product launch on 20th of August, 2020. The launch is headed by Krypital Group, a blockchain-centric venture capital firm.

Mexo aims to encourage cryptocurrency trading in the Mexican and Latin American markets – a sector that has been at the forefront of the blockchain revolution.

Though the product will be accessible to the public only after the launch, its website is already functioning. As of now, signing up for Mexo is possible only with a VIP invitation code.

Mexo has been successful in catching our attention, and so here we explore what the platform offers and what to expect after its launch.

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What is Mexo?

The Latin American market has been demonstrating significant growth in the blockchain economy. Mexo will facilitate the buying and selling of cryptocurrency pairs for those based in LATAM and Mexico, by providing ample opportunities to conduct secure digital currency trading.

With leading personalities in the industry behind the team, the product will offer true liquidity, diversification of products, and reliable customer service.

On Mexo, you can engage in trading of both BTC and stable coins. Currently, there are 21 stable coin pairs, and 9 bitcoin trading pairs accessible on the platform.

The Mexo homepage
The Mexo homepage

Additionally, several LATAM currencies are also available, including the Mexican peso, Uruguayan peso, Argentinian peso, Chilean peso, Colombian peso, Peruvian sol, and Belize dollar. Additionally, there will be support for the US dollar and the Chinese yuan.

As you can see, the platform focuses on making it easier for Latin American users to enter into the cryptocurrency markets from the comfort of their home.

How to Register on Mexo

You can create an account on Mexo with either your phone number or your email ID. However, after creating an account, you will be required to verify your identity by completing two out of the three verification processes.

  1. Provide a valid identity card
  2. Attach your photo holding a valid ID card.
  3. Attach a selfie with you holding a valid ID card.

It is evident that Mexo has taken all steps necessary to ensure that only verifiable accounts are created on the platform.

Fast Signup Process
Fast Signup Process

Features of Mexo

Mexo has managed to combine some essential features to attract cryptocurrency traders.

Currently, users can perform:

  • Spot Trading, and
  • Derivatives Trading

Furthermore, Mexo also allows users to trade via a fledged demo account. This allows you to practice your cryptocurrency trading skills without risking your own capital.

If you are new to the cryptocurrency exchange scene, it is best that you take advantage of this feature to familiarize yourself with the ins and outs of cryptocurrency trades.

How to Trade on Mexo

Mexo has a clean interface that makes it easy for both beginners and seasoned professionals to engage in trading.

Once you create an account on the exchange platform, you will see the following options under the “Exchange” tab on your homepage.

Select the Trading Pair List

Choose the pair you want to access, and you will be redirected to the respective exchange trading page.

For instance, if you’re looking to trade ETC with BTC, you can go to the BTC page, and look for ETC in the search bar.

Then proceed to select the ETC/BTC pair.

Market Status

Mexo displays a detailed overview of how its supported trading pairs have been performing over the last 24 hours.

In this section, you can also analyze data points such as the recent price action, trading volumes, and 24-hour highs and lows.

Keep in mind that this only offers a summary of the current market values.

The Trading screen
The Trading screen

Buy/Sell Orders

Mexo allows you to trade digital currencies through two order types – Limit trading and Market trading.

Limit Trading Order

A limit order lets you set the price and amount at which you are ready to buy or sell. Your trade will only be executed when the market meets your conditions. Hence, you might be able to buy or sell at a more favourable price than the current market value  – depending on your trading pair.

In essence, your orders will be considered as guidance to carry out that particular trade. Orders closer to the market price will take priority here. If there are multiple orders with the same price, then trades will be executed based on the time that the orders were placed.

Note: In Limit trading, if the market price does not match your order price, the transaction will not be completed. In this case, you will have to cancel the order or switch to a market trading order to carry out the trade immediately. Once these orders are executed, they cannot be revoked. Only pending orders can be modified or cancelled.

Market Trading Order

Market trading orders, on the other hand, are to be executed at the current market price. This approach is for those who want to carry out spot trading regardless of the market price.

Here, you don’t need to set the price or amount; instead, Mexo will match your order to the market price, until the set amount has been filled.

Place your orders
Place your orders

Chart Area

The Mexo chart area gives you a visual representation of the market depth and the K-line graph of cryptocurrency trends.

Apart from these, you will also be able to see any pending transactions, open orders, and your balance.

Perpetual Contracts

Mexo provides derivative trading opportunities through its perpetual contracts. Currently, you can settle perpetual contracts in USDT. These contracts allow you to go long or short while trading, with huge leverage limits of up to 100x.

Unlike futures trading, perpetual contracts do not have any specified delivery or expiration date. As long as your position is open, the contract will remain valid.

Presently, Mexo offers only cross margin mode, meaning all your trading positions are independent of others.

Auto-Deleverage Mechanism

With substantial leverage on offer, Mexo has also come up with an auto-deleverage mechanism, or ADL.

Instead of distributing the losses after settlement, this mechanism prioritizes users with high leverage and high profits. ADL will kick in if there are not enough orders outstanding, and if the insurance fund is insufficient to cover the subsequent losses.

Risk Limit

Users engaging with perpetual contracts can also limit their losses by installing a risk limit. If the position is higher than the risk limit, the order will no longer remain in play.

Insurance Fund

The insurance fund is there to ensure that you avoid your position being auto-leveraged. The fund is accumulated from any liquidations that are executed at a profit.

Mexo Fee Structure

Mexo has set up a tier system to define fees charged to each user. These tiers are determined by the monthly trading volume of users.

There are six levels, ranging from 0 to 5, with trading volumes up to 1,000 BTC. If your monthly trading volume exceeds 2,000 BTC, Mexo will offer you a bespoke plan.

Transaction Fees

Maker and Taker fees are different in spot trading and perpetual contract trading. A taker fee is charged when your trade order is matched immediately, and as such, all market orders are charged a taker fee.

  • Mexo’s taker fee vary from 0.070% to 0.095% when spot trading.
  • When trading perpetual contracts, you will be required to pay a slightly low fee of between 0.032% and 0.040%.
  • The Maker fee varies from 0.010% to 0.020%, and from 0.050% to 0.075% for perpetual contracts and spot trading, respectively.

Trading Fees

Spot Trading Perpetual Contract Trading
  30-day Trade

Volume (BTC)

  Maker Fee   Taker Fee   30-day Trade

Volume (BTC)

  Maker Fee   Taker Fee
   LV. 0 0.075% 0.095% 0.020% 0.040%
   LV. 1 20 0.070% 0.090% 100 0.018% 0.040%
   LV. 2 100 0.065% 0.085% 500 0.016% 0.038%
   LV. 3 250 0.060% 0.080% 1,250 0.014% 0.036%
   LV. 4 500 0.055% 0.075% 2,500 0.012% 0.034%
   LV. 5 1,000 0.050% 0.070% 5,000 0.010% 0.032%

Deposits and Withdrawals

All deposits are entirely free at Mexo. For withdrawals, Mexo employs a dynamic fee setting, which uses the calculation of miner fees, token prices, and asset withdrawal prices to improve the user experience.

With this technique, Mexo claims that the withdrawal fee is much lower than any fixed-rate fee schedules.

Another impressive feature is the option to set your withdrawal speed, which can allow you to lower the withdraw fee that you pay.

Withdrawal Fees

Token Ticker Deposit Fee Withdrawal Fee Minimum Deposit Minimum Withdrawal
     TetherUS      USDT      Free      Dynamic 1 10
     Bitcoin      BTC      Free      Dynamic 0.001 0.01
     Ethereum      ETH      Free      Dynamic 0.01 0.05
     XRP      XRP      Free      Dynamic 10 45
     BCH      BCH      Free      Dynamic 0.001 0.03
     Litecoin      LTC      Free      Dynamic 0.001 0.15
     EOS      EOS      Free      Dynamic 1 3
     TrueUSD      TUSD      Free      Dynamic 10 20
     Ethereum
Classic
     ETC      Free      Dynamic 0.1 0.5
     BSV      BSV      Free      Dynamic 0.01 0.05
     Dash      DASH      Free      Dynamic 0.005 0.1
     Tezos      XTZ      Free      Dynamic 0.1 4
     Cardano      ADA      Free      Dynamic 10 200
     ChainLink      LINK      Free      Dynamic 2 5
     Monero      XMR      Free      Dynamic 0.1 0.5
     Cosmos      ATOM      Free      Dynamic 1 3
     ZCASH      ZEC      Free      Dynamic 0.001 0.3
     Ontology      ONT      Free      Dynamic 1 15
     Basic Attention
Token
     BAT      Free      Dynamic 35 105
     Algorand      ALGO      Free      Dynamic 0.5 100
     OmiseGO      OMG      Free      Dynamic 6 10
     Decentraland      MANA      Free      Dynamic 200 600
     Golem      GNT      Free      Dynamic 20 50
     GRIN      GRIN      Free      Dynamic 0.1 10
     DOGE      DOGE      Free      Dynamic 500 5000
     TRON      TRX      Free      Dynamic 20 2000
     NEO      NEO      Free      Dynamic 1 1

*Mexo uses a dynamic fee setting, which combines dynamic calculation of miner fees, gas fee with

Mexo Security

Perhaps, one of the most significant concerns for any cryptocurrency trader is how secure your funds will be. Mexo ensures this through a multiple-dimension risk control protocol that protects the system from both front and back-end attacks.

Additionally, they also segregate development, deployment and authority systems.  According to the platform itself, over 90% of client funds will be stored in cold wallets, and the rest in an operation wallet with multi-signature addresses.

Moreover, Mexo also encourages users to set up 2FA, which you can do via Google Authentication. This will add an extra layer of security on your account.

Mexo Review – The Verdict?

All in all, Mexo appears to have found a gap in the cryptocurrency market – reliable trading services for those based in Mexico and Latin America. This is further amplified by its commitment to security and transparency, with promises of dependable customer service.

Visit Mexo

The post Mexo Review: A New Cryptocurrency Exchange for Mexico & LATAM appeared first on Blockonomi.

OKEx Review: Cryptocurrency Exchange With Derivatives Trading

OKEx Review

OKEx is a Malta-based world-leading cryptocurrency exchange that allows users to trade on hundreds of tokens and futures trading pairs.

OKEx was founded in 2017 with headquarters in Malta and the Republic of Seychelles. CEO of OKEx, JayHao, had a background in game development and the semiconductor industry before joining the cryptocurrency space.

In 2018, it expanded crypto operations to Malta as the Maltese government has adopted an overall friendly approach to cryptocurrency trading.

When the cryptocurrency market took an unprecedented turn in March 2020, OKEx managed to top the sector with the largest top-tier trading volume. With significant expertise in the digital asset marketplace, OKEx is now home to an unprecedented number of seasoned traders.

Given the hype surrounding the platform as it continues to grow, here we discuss the performance and reliability of OKEx as a cryptocurrency exchange.

In our OKEx review, we cover everything you need to know to assess whether the platform is right for you. This includes metrics surrounding fees and commissions, tradable cryptocurrencies, features, safety, and more.

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What is OKEx?

OKEx is a digital currency trading platform specifically designed to empower cryptocurrency traders. It provides advanced cryptocurrency financial services to millions of users in over 100 countries.

The platform currently has one of the most extensive lists of supported cryptocurrencies, along with over 448 trading pairs.

As a trading platform, OKEx offers spot as well as derivatives trading. This ensures that users have substantial flexibility when deploying their investment strategies.

OKEx Homepage
OKEx Homepage

What can you do at OKEx?

OKEx essentially serves as a third-party exchange that facilitates cryptocurrency trades.

The main features of the platform allow users to:

Buy/Sell Crypto

OKEx lets you convert over 30 fiat currencies into a number of cryptocurrency coins and tokens – including Bitcoin, USDT, and Ethereum.

Quickly Buy & Sell
Quickly Buy & Sell

Day Trading

Investors can use OKEx as a day trading platform for cryptocurrencies and derivatives – 24/7. This can be done through spot or margin trading of cryptocurrencies, futures contracts, and other digital tokens.

Benefit From Crypto Tools

With OKEx, users can diversify their investment portfolio using advanced tools for cryptocurrency mining, holding, and wallet management.

Education Academy

Traders can also access the OKEx Academy to read guides and analyses from industry experts and increase their knowledge of crypto markets.

OKEx Cryptocurrency Accounts

Before you sign up with OKEx, there are a few tools and features you should familiarize yourself with, as detailed below.

My Wallet

The main OKEx wallet displays all of your tokens that have since been deposited or withdrawn into and from the exchange. To make your funds more secure, OKEx wallets also have the option of a seed phrase. OKEx creates a dedicated wallet for each coin and stores it in its respective wallet as soon as you select it.

The OKEx Wallet
The OKEx Wallet

Funding Account

A Funding Account primarily serves as a digital bank account for your cryptocurrencies. From here, you can send, receive, and trade your digital assets to and from other wallets.

Any deposits or withdrawals will only occur via this account. Hence, you will first have to transfer your funds from the “Funding Account” to the respective trading account.

Trading Accounts

You can find all your trading accounts categorized within this tab. Here you have the spot account, fiat account, futures account, index trading account, and C2C trading account.

On top of the above, there is also an OKEx Savings Account and Mining Account.

How to Start Using OKEx

To benefit from its features, OKEx first requires you to have a verified user account.

Step 1: Create an Account

Register for a new account with your email address and password. If you are looking to deposit, buy, or perform any other function, you will need to provide personal information and verify it with a valid government-issued ID.

Step 2: Deposit Assets

You can proceed to deposit cryptocurrency assets by either buying digital coins with fiat or transferring your digital assets from an external wallet. When you are copying your unique wallet address from OKEx, make sure that it relates to the respective cryptocurrency. Once processed, the coins will then be available in your ‘Funding Account.’

OKEx Deposits
OKEx Deposits

Step 3: Start Trading

Users can then proceed to transfer their funds to the corresponding “Trading Account” to begin trading.

How to Buy or Sell Cryptocurrency Through OKEx?

One of the best features of OKEx is the ease to convert your fiat currency into cryptocurrencies. Currently, OKEx partners with 9 fiat providers who can facilitate fiat-to-crypto conversions for you. They offer a variety of payment methods such as:

  •     Bank transfer
  •     Credit and debit card payments
  •     Crypto transfer from other platforms

The buying process is reasonably straightforward once you set up your account, and can be completed in a matter of minutes.

All you need to do is:

  • Step 1: Select the cryptocurrency you want to buy, alongside the exact quantity.
  • Step 2: Choose your preferred payment method and proceed to complete the payment
  • Step 3: Your cryptocurrencies will automatically be added to your wallet once the payment is processed.
Quick Buy & Sell
Quick Buy & Sell

How to Trade through OKEx?

To start trading at OKEx, select the respective trading option from the main menu. Once redirected to the trading page, you can choose your base asset.

OKEx will immediately show you a list of available pairs, from which you can select the one you wish to trade. If you already have a pair set in mind, you can also use the search bar.

In the spot option, OKEx allows for

  • Spot trading, where the trade is settled at the spot price. No market volatility will affect the profit you make from this trade.
  • Margin trading, where you trade by borrowing a pre-defined amount of capital through leverage.
The Spot Trading Screen
The Spot Trading Screen

OKEx Derivatives

OKEx stands out from the other players by offering the option to trade derivative instruments. These are assets that “derive” or take their value from the underlying cryptocurrency.

Such trades can be leveraged, allowing users to magnify profits (or losses). OKEx currently offers leverage of up to 100x, depending on the type of financial instrument. When trading derivatives, you can also opt to go long or short on the trade.

Here is a closer look at the different derivatives products offered at OKEx.

Futures

These cryptocurrency instruments are traded with an agreement between two parties to exchange the asset on a predetermined date. In cryptocurrency trading, such agreements are often tracked in terms of digital tokens.

There are two types of futures contracts, one is coin-margined futures and another is USDT-margined futures. So one is settled in BTC/other coins and another one is settled in USDT.

Futures Trading Screen
Futures Trading Screen

The platform claims that the system is manipulation-proof, and as it does not involve any fiat, it is not restricted by country regulations. Futures contracts can be traded on weekly, bi-weekly, quaterly, bi-quaterly.

Before engaging in a futures trade, you will have to set your margin parameters. Each option comes with its own set of risk management systems and formulas.

For example:

  • In Cross-margin mode, the margin is considered from all your holding positions. In other words, all assets in your account will become your position margin.
  • In fixed-margin mode, only the assets you specify for the particular position will be used as margin.

Perpetual Swaps

OKEx’s Perpetual Swaps are more widely called Perpetual Futures. These are similar to conventional futures contracts, except that there is no predetermined time or expiry date.

This derivative allows you to hold a position as long as you want, and exchange the assets for another at any given time. At the time of writing, OKEx has made Perpetual Swaps available for 23 different cryptocurrencies.

Perpetual Swaps
Perpetual Swaps

Options

Trading in options allows the investor to buy or sell an asset on an arranged day. However, they are not obliged to do so.

Essentially, it provides you, as the contract holder, the ‘option’ to decide whether the trade will benefit you or not. In order to gain this right, you will need to pay a ‘premium’. If you opt against taking the option to buy or sell the underlying instrument at a later date, you lose your premium.

Options
Options

When you are trading options, you need to specify whether you want ‘Calls’ or ‘Puts’. Calls give you the right to buy, whereas Puts comes with the right to sell.

Note: There are also several order limits and conditions users can set while trading on OKEx. This includes stop orders, market limits, and more. This provides great flexibility, as well as control over your cryptocurrency investment strategies.

OKB Tokens

The OK Blockchain Foundation has issued its exclusive global utility token in which it calls ‘OKB’. On the platform, users can now purchase OKB and trade them against other digital assets.

“OKB, the global utility token issued by OK Blockchain Foundation, is one of the fundamental infrastructures of OKEx trading platform. All OKB holders can enjoy exclusive functions on OKEx platform with a wide range of ecosystem use cases available. We hope to achieve a win-win situation in the global blockchain era and jointly promote the healthy development of the blockchain and digital asset sector through OKB. OKB is a deflationary token with the total supply of 300 million OKB, and a certain amount of OKB will be repurchased by the platform from the secondary market quarterly.”

OKEx Trading Fees

When it comes to trading fees, this is where OKEx really stands out from the crowd. OKEx distinguishes its traders into Normal and VIP users based on their previous trading volumes over the prior 30 days.

Within each group, there are further tiers that define the commissions and fees. Normal users are divided into 5 tiers and VIP users into 7 tiers.

Put simply, the more you trade, the lower the trading fees. You can work out your tier and fee from the “Fee Schedule Tier Link” in the “Profile” drop-down menu.

Spot Trading Fees
Spot Trading Fees

Apart from the tier system, the fees can also vary depending on whether you are a market ‘maker’ or market ‘taker’.

Takers are those who trade with the market prices presented on OKEx. In contrast, a Maker is one who contributes to the OKEx’s market by providing liquidity. Consequently, market “makers” get a much better commission rate, and in some cases – a rebate.

Click here to view the full trading fees for each type of trading.

Deposit and Withdrawal Fees

OKEx does not charge any deposit fee for its customers. The withdrawal fee, however, depends on the type of coin as standard network transaction fees remain applicable.

OKEx Financial Options

Apart from being a trading exchange, OKEx also provides cryptocurrency financial services. This means you can invest your crypto assets to earn interest and take out crypto-backed loans as required.

Earn Interest on Cryptocurrency

Under the Earn Program, OKEx offers many ways for you to generate interest on your dormant digital assets. The platform incorporates a traditional fiat financing approach to provide users with the same benefits on their cryptocurrencies.

  • Savings Account earns you interest on your assets while giving you the flexibility to withdraw or move your coins at any time.
  • Staking lets you contribute to various PoS networks, and in turn, rewards you with tokens.
  • Term Deposits are similar to fixed deposits, where your investments are locked for a specific period for an agreed rate of interest. The interest is also paid out in tokens.
Earn with OKEx
Earn with OKEx

C2C Loans

The OKEx platform recently introduced the C2C loan arrangement, where users can borrow through customer-to-customer financing. In simple terms, the system allows OKEx to function as a marketplace where investors can either take or give loans.

Users can set interest rates and loan periods while being guided by OKEx regulations on transparency and safety.

At the moment, OKEx accepts BTC, ETH & OKB as collateral to take out loans in USDT. So, the feature is most beneficial for investors with access to BTC. In return, one can use their USDT to invest in an OKEx interest-earning facility and thus -generate passive income.

The best part here is that borrowers can request a loan, and set their own terms. This includes the amount, the duration, and interest rate. Investors can then choose which loan request they want to fulfil.

OKEx Loans
OKEx Loans

How Safe is OKEx?

The platform has undoubtedly managed to curate an extensive set of tools and resources that cater to most of the requirements of a cryptocurrency investor. However, the most crucial concern for any trader is the safety of their assets.

According to OKEx, they have designed a water-tight system that ensures the utmost security of your digital coins. By combining cold storage, private key generation, and backups – user assets are safeguarded. In addition, there is also two-factor authentication on offer, which serves as an extra layer of security for your funds.

OKEx is registered in Malta and Hong Kong and recently featured digital assets and trading services that are compliant with the Virtual Financial Asset Act (“VFAA”), which is a regulated authority by the Malta Financial Services Authority.

The exchange has never been hacked despite being one of the largest cryptocurrency exchanges in the world, and overall, OKEx is considered to be a safe and secure trading platform.

However, as a general rule, you should always remember that your assets are truly only in your control when you hold the private keys to your wallets. It is generally advised that you hold your funds for the long-term in wallets that you control and manage securely.

OKEx Review: The Verdict?

Overall, OKEx has created an ecosystem that works well for cryptocurrency traders. The system is flexible, giving you sufficient control over all of your trading needs. Even if trading is not your forte, the platform has solutions letting you earn interest on your digital assets.

Derivatives trading is another function that puts OKEx among one of the most utilized trading platforms in the market. Moreover, the exchange is home to over 448 trading pairs in spot trading, 9 tokens for futures, 23 tokens for perpetual swaps, 3 tokens for options trading.- with additional coins being added on a frequent basis.

Finally, with a great track record of security, despite being one of the largest exchanges in the world, OKEx comes out as a reliable platform for traders of all types.

Visit OKEx

The post OKEx Review: Cryptocurrency Exchange With Derivatives Trading appeared first on Blockonomi.

KuCoin Review: Cryptocurrency Exchange With Margin, Futures & Earning Options

KuCoin Review

Whether you are looking to buy digital currencies like Bitcoin and Ethereum with a debit/credit card or trade crypto-to-crypto pairs – KuCoin covers both bases.

The global exchange and third-party broker is home to some of the largest trading volumes in the space, alongside a fee-structure that should suit most budgets.

In this guide, we review the ins and outs of KuCoin. This includes an in-depth look at the platform’s supported coins, fiat currency facilities, fees and commissions, safety, customer support, and trading arena.

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What is KuCoin?

Launched as recently as 2017, KuCoin is a cryptocurrency exchange that also offers third-party brokerage services. Although the platform has just three years of trading history, it is now one of the largest cryptocurrency exchanges in the space.

One of the main reasons for this is that you will find over 200 coins with about 450 cryptocurrency pairs hosted at the exchange. Not only does this include major pairs like BTC/USDT and ETH/USDT, but heaps of crypto-cross pairs. Best of all, if you have an appetite to trade a less liquid ERC-20 token, chances are you will find it at KuCoin.

Kucoin Homepage
Kucoin Homepage

KuCoin was initially a cryptocurrency-only platform, meaning that you could not deposit funds with fiat currency. However, the platform has since formed a partnership with Simplex – a European payment provider that bridges the gap between cryptocurrencies and everyday money.

When it comes to cryptocurrency trading fees, KuCoin charges just 0.10%. This puts it on par with the likes of Binance. Similarly, KuCoin is also behind its own digital token – KuCoin Shares (KCS). By owning and storing KCS tokens, you will benefit from discounted trading fees, as well as an entitlement to a share of the trading commissions that KuCoin collects.

In terms of the numbers, KuCoin claims to have facilitated more than 650 million individual trades since its inception in 2017. This translates to more than $71 billion in accumulated trading volumes.

Finally – and as we cover in more detail further down, KuCoin is not regulated by a national licensing body. Although this means that you will be able to trade cryptocurrencies without supplying any ID, this won’t be the case if you wish to buy digital coins with a debit/credit card through Simplex.

What can you Trade at KuCoin?

KuCoin offers a vast range of financial instruments that goes above and beyond just crypto-to-crypto pairs. On the contrary, the platform also offers cryptocurrency indexes, margin trading, and even futures.

Let’s explore each asset class in more detail.

Crypto-to-Crypto Pairs

Each and every trading pair at KuCoin falls within the remit of crypto-to-crypto, not least because it does not offer any fiat-denominated instruments. Instead, you will need to trade your chosen cryptocurrency against the USDT if you want access to the crypto-to-USD space.

If you’re a seasoned cryptocurrency trader then you will know first hand that this is industry standard anyway, so you’ll have no issues with trading volumes or liquidity.

Outside of USDT, you can trade crypto-cross pairs. Examples of this include BTC/ETH, ETH/XRP, and BSC/BTC. Ultimately, listing each and every trading digital currency is beyond the remit of this review, albeit, rest assured that the platform hosts more than 450 pairs.

Some of the Kucoin markets
Some of the Kucoin markets

Crucially, KuCoin is often one of the very first exchanges that newly launched cryptocurrency token projects opt for. As such, support for less liquid digital tokens is something that the team at KuCoin actively look to facilitate.

For a full breakdown of each and every pair that KuCoin hosts, you can find this information here at CoinMarketCap.

KuCoin Indexes

On top of traditional crypto-cross pairs, KuCoin also offers a number of indexes. The concept here is that KuCoin will take the weighted average of a specific cryptocurrency across several leading exchanges.

This is with the view of offering a more accurate price of the coin in question, as it takes into account the variations that you often find between competing platforms.

KuCoin indexes are available across:

  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin

The cryptocurrency exchanges that KuCoin derives its pricing activity from are:

  • Coinbase
  • Bitstamp
  • Kraken
  • Gemini
  • Bittrex
  • Liquid

The price of each index is denominated in USD, but settled in the respective cryptocurrency.

KuCoin Futures

Launched in mid-2019, the KuCoin Mercantile Exchange allows you to trade Bitcoin futures. KuCoin itself notes that it is looking to challenge the likes of BitMEX in this particular area of the cryptocurrency derivative space. As a result, you will have access to Bitcoin futures alongside a substantial margin position of up to 100x.

In simple terms, this means that a $100 account balance would permit a maximum trade value of $10,000. When it comes to the underlying spot price, KuCoin once again takes the weighted average from various leading exchanges – such as Kraken, Coinbase Pro, and Bitstamp.

Kucoin Futures
Kucoin Futures

At the time of writing, KuCoin only supports BTC and ETH futures, although it hopes to add further digital currencies in the near future. When it comes to fees, expect to pay 0.060% as a market taker, and 0.020% as a maker. There are also settlement fees of 0.025%.

Trading Fees and Commissions

First and foremost, there are no fees associated with cryptocurrency deposits, and withdrawals are charged at the standard mining rate as per the coin you are looking to cash out.

When it comes to trading fees outside of the futures arena, you will pay 0.1%. This means that a $10,000 trade would cost you $10 in fees. As we briefly mentioned earlier, this sits in-line with fellow exchange counterpart Binance.

KuCoin Shares (KCS)

KuCoin Shares – or simply KCS, is a proprietary cryptocurrency token created by the exchange. By owning and holding KCS tokens you will be accustomed to a number of benefits.

This includes:

Discounted Trading Fees

One of the most notable benefits of holding KuCoin Shares is that you will get discounted trading fees. Crucially, while a standard fee of 0.1% is industry-leading, you stand the potential to reduce this by an additional 20%. What you need to do is to simply turn on the KCS Pay Fee button and enjoy the discount.

Dividends

On top of reducing your trading commissions, holding an allocation of KuCoin Shares affords you the opportunity to earn dividends. In a nutshell, KuCoin as a platform will distribute 50% of the trading commissions that it collects from members each and every day.

This is then distributed proportionately across all holders of KuCoin Shares. For example, let’s suppose that you hold 1% of the entire KCS supply. If the platform pays out $250,000 in commissions, you would receive $2,500. You need to hold at least 6 KCS to benefit from the dividends.

Price History and Buying KuCoin Shares

To say the value of KuCoin Shares has capitulated since its all-time highs of January 2018 would be an understatement. At a peak of over $20 each, you can now obtain the very same tokens for less than $1 in mid-2020.

Nevertheless, if you do want to get your hands on KuCoin Shares you can do this by exchanging them at the platform for an alternative cryptocurrency like Bitcoin or Ethereum.

Fiat Currency Facilities at KuCoin

As the end of 2018, KuCoin has since formed a partnership with European-based payment provider Simplex. The partnership ensures that users from over 100 countries can now deposit real-world funds with a debit or credit card.

This is ideal if you are looking to trade cryptocurrencies, futures at KuCoin but you do not have any digital currencies available to you. Instead, you can simply enter your debit/credit card details and get cash directly into the platform.

Purchase crypto with credit card
Purchase crypto with credit card

With that being said, it is important to note that the fees associated with this are not cheap. Although the occasional promotion is offered on deposit fees, this will cost you a whopping 2.5 – 3.5% (with a $10 minimum).

This means that a $1000 debit/credit card deposit would cost you $25 in fees. It is noticed that this is slightly cheaper than the likes of Coinbase, which charges 3.99% (with various minimums in place).

Also, KuCoin is developing an OTC Trading Desk, on which all users could buy and sell major coins like BTC, USDT, PAX without any fee. The OTC platform currently supports USD, CAD, CNY, IDR and VND.

Trading Platforms

KuCoin offers a proprietary trading platform that was built from the ground-up. There is no requirement to download or install any software to your desktop device, as the KuCoin trading arena can be accessed through your standard web browser. The platform is potentially suited to both newbie investors and seasoned traders.

The reason we say this is that while the platform is super-clean and easy to navigate through, there are heaps of advanced tools available at your disposal. In fact, you have the ability to fully customize your KuCoin trading screen however you see fit.

Kucoin Trading Screen
Kucoin Trading Screen

When it comes to trading volumes and the availability of liquidity, you should have no concerns at all when trading more popular pairs. You might, however, find that volumes are low on less liquid pairs – especially those involving ERC-20 tokens.

Mobile Trading

If you have a tendency to buy, sell, and trade cryptocurrencies on the move, then you might be interested in the KuCoin mobile trading app.

The application is available to download on iOS and Android devices. You will have access to most account features on the app, such as placing orders, checking the value of your portfolio, and depositing and withdrawing funds.

How Long do Withdrawals Take at KuCoin?

In the vast majority of cases, KuCoin will process your withdrawals within 30 minutes of receiving the request. The platform notes that this is automated, and that manual authorization is only required if the size of your deposit is larger than 100,000 times that of the handling fee (mining fee).

Once the funds leave KuCoin, they will be transferred to the cryptocurrency wallet address of your choosing. Make sure that the address is valid, as there is nothing that KuCoin can do if you make an error!

Kucoin Withdrawals
Kucoin Withdrawals

Earn Interest at KuCoin

An additional feature available at KuCoin is that of its lending program. In its most basic form, you stand the chance of earning interest on your digital currency holdings by loaning it out. The main concept is that the tokens will be used to help fund margin accounts.

For example, let’s suppose that a KuCoin trader decides to apply leverage of 10x on an order. For each day that the position is kept open overnight, the trader would need to pay interest. This is because they are trading with more than they have in their account and thus – this comes at a cost.

Earn interest lending your cryptocurrency
Earn interest lending your cryptocurrency

With that said, KuCoin has opened its doors to everyday investors by giving you the opportunity to fund margin positions. This is available on several coins – including USDT, Bitcoin, Ethereum, Litecoin, EOS, and many more.

In terms of the specific interest rate, this will vary from coin to coin. As an example, by lending out Bitcoin for 28 days, you could be earning an annualized interest rate of 4.83%.

If this is something that you are interested in exploring, KuCoin offers a profit estimation calculator. You simply need to specify how much you are willing to lend out, on what digital currency, and for what length of time – and the calculator will advise you how much you can earn.

It is important to remember that although the rates of interest on offer are super-competitive, you must consider the risks associated with this. After all, KuCoin is not a regulated cryptocurrency exchange so you must factor this into your risk vs reward model.

Is KuCoin Safe?

As is the case with all cryptocurrency exchanges, it is crucial that you are able to ascertain whether or not KuCoin is safe. Not only does this include the platform’s regulatory standing, but its internal and external security practices, too.

Let’s break these metrics down in more detail.

Regulation

In a nutshell, KuCoin is not regulated by any national licensing bodies. This isn’t a major surprise in the cryptocurrency exchange arena, as lots of platforms choose to operate without a license. Whether or not you feel comfortable trading at an unregulated exchange depends on what side of the fence you sit on.

For example, if you are the type of trader that prefers to buy and sell cryptocurrency pairs in an anonymous nature, then there is every chance that a platform like KuCoin is suitable for your needs. At the other end of the spectrum, if you are the type of trader that demands a regulatory safeguard of some sort, then KuCoin might not suffice.

KYC

As noted above, KuCoin is not required to ask you for any personal information – nor will they demand sensitive identity documents. However, the one exception to this rule is if you plan to deposit funds with a debit or credit card through the Simplex integration.

In fact, in order to remain compliant with all relevant laws surrounding anti-money laundering, you will need to upload a copy of your government-issued ID (passport or driver’s license). This is just the nature of the game when using fiat currency at a crypto-exchange.

KuCoin Security Practices

In terms of internal security practices, KuCoin claims to run institutional-grade systems that ensures it keeps crime away from the platform. This is fully supported by a commitment to cold storage.

Although the exact percentage is not specified by KuCoin, it is claimed that the vast bulk of client funds are held offline. The remainder is kept in hot wallets to ensure the platform is able to meet its offering of near-instant and automated withdrawals.

To date, there have been no publications of KuCoin encountering a major hack of any sort, which is an excellent sign. With that said, you always need to ensure you understand the risks of a potential external hack, as your funds are being stored in wallets that you do not personally control.

Also, it is worth noting that in April 2020, KuCoin completed a strategic cooperation with Onchain Custodian, Singapore’s crypto asset custody platform. Onchain Custodian will offer custody service for the safekeeping of KuCoin crypto assets. The custodial funds will be backed by Lockton, the world’s largest private insurance brokerage company. This is believed to further enhance the exchange’s security level.

2FA

Best of all, KuCoin allows you to install two-factor authentication (2FA) on your account. This means that a unique code will be sent to your mobile device whenever you wish to perform key account functions. This includes logging into your account and making a withdrawal request.

KuCoin Customer Support

When it comes to customer service, the team at KuCoin provides an around the clock support team that operates 24 hours per day – 7 days per week. You can send the team an email, albeit, if you need instant one-on-one support you are best advised to use the live chat facility.

Kucoin Customer Support
Kucoin Customer Support

Sentiment on this is somewhat mixed in the public domain. With some users reporting connection times in the seconds, others have noted that waiting times are beyond acceptable. With that said, it all depends on how busy the team is at the time of the request. There is no telephone support service offered.

How to get Started at KuCoin

Like the sound of KuCoin and think the platform is suitable for your long-term trading needs? If so, we are now going to show you what you need to do to get started with a trading account today.

Step 1: Open an Account

To get the ball rolling, head over to the KuCoin homepage and click on the ‘Sign Up’ button at the top of the screen. You will then be prompted to enter your email address and to choose a strong password.

You will need to verify your email address before linking up 2FA via your mobile phone. At this stage of the registration process, you will not be asked for any personal information.

Kucoin Signup
Kucoin Signup

Step 2: Deposit Funds

Once you have opened your KuCoin account you will then be promoted to deposit some funds. In this respect, you have two options. If you already possess a digital token, you can deposit this straight into KuCoin.

Simply head over to the deposit page and search for the respective coin. Then, click on the deposit tab to reveal your unique wallet address for that specific cryptocurrency.

Copy the address to your clipboard, head over to your private wallet, specify the number of coins you wish to deposit, and confirm the transaction.

Depending on the cryptocurrency you are depositing, it typically takes around 10-20 minutes for the funds to be credited into your KuCoin account.

Fiat Currency Deposit

If you do not have access to a digital currency, you will need to deposit funds with your debit or credit card. Hover over the ‘Buy Crypto’ button and then click on ‘Buy with Credit Card’.

Follow the step-by-step instructions that are presented to you on screen. Crucially, you will be asked to verify your identity before you are able to use your debit/credit card. The end-to-end process is taken care of by Simplex.

Step 3: Start Trading

As soon as your KuCoin account has been funded, you are ready to start trading. The specific trading arena that you need will depend on the type of financial instrument you are looking to access. This is because KuCoin separates its cryptocurrency exchange and future derivative platforms.

KuCoin Review: The Verdict?

In summary, it is clear to see why KuCoin is now one of the most popular cryptocurrency exchanges in the space. Not only does it give you access to over 450 cryptocurrency pairs, but you can also trade crypto-specific indexes and Bitcoin futures.

Moreover, standard trading fees amount to just 0.1%, which you can reduce by an additional 20% by paying fee with KuCoin Shares. We also like the fact that you can now deposit funds with a debit or credit card, albeit, you will need to bypass a KYC process first.

The main gripe that we have with KuCoin is that it is not a regulated entity. While this does mean that you can trade crypto-to-crypto pairs anonymously, your funds are never 100% safe.

On the flip side, reports about a KuCoin hack are yet to surface since its inception in 2017 – which is an excellent sign.

Visit Kucoin

The post KuCoin Review: Cryptocurrency Exchange With Margin, Futures & Earning Options appeared first on Blockonomi.

Udemy Review: Online Learning Platform for Students & Teachers

Udemy Review

There can be no denying that the future of education and self-development is likely to be dominated by the online sector. In fact, even universities are now offering core degree courses via distance learning. As such, it comes as no surprise to discover that online academies like Udemy are now home to tens of millions of students.

For those unaware, Udemy is an online course platform that matches learners and educators. Whether you’re looking to build and sell a course or take a course as a student, the platform is well worth considering.

In our in-depth Udemy review, we cover everything you need to know about the online academy. This includes key metrics from the perspective of both course providers and students, subsequently allowing you to make an informed decision prior to signing up.

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What is Udemy?

Launched in 2009, Udemy is an online platform that matches course providers with students. More specifically, courses at the platform can be created by anyone. As such, whether you’re a seasoned accountant, WordPress developer, or a mathematician – you can market your skills to a global audience.

To highlight just how popular Udemy has become since its inception a mere 11 years ago, the platform has since attracted over 50 million students. This translates into over 150,000 courses, and more than 295 million course enrollments. In terms of those behind the courses, Udemy claims that it has hosted more than 57,000 instructors.

Udemy Homepage
Udemy Homepage

It is important to note that Udemy is not reserved just for those speaking English as a first language. On the contrary, the platform now hosts courses in more than 65 different languages. All in all, these figures demonstrate that Udemy is the go-to platform for online learning.

Udemy Courses – Are you a Course Creator or Student?

As this review is aimed at both course creators and students, it’s best that we initially split the two perspectives so you can ascertain whether or not the platform is right for you.

Udemy Students – The Basics

At one end of the Udemy spectrum, you might be here reading this review because you are looking to develop some new skills. Crucially, Udemy is as good as it gets in the online space for learning subjects you are interested in, as the platform hosts over 150,000+ courses.

While listing each and every topic is beyond the remit of this review, rest assured that in all likelihood, you’ll find a course creator that offers what you are looking for.

To get the ball rolling, you simply need to search for the course you are interested in taking. For example, let’s say that you want to learn about blockchain technology. By searching for ‘blockchain’, you will be presented with well over 1,000 individual courses.

Blockchain Courses
Blockchain Courses

This includes everything from an entry-level course on the basics of blockchain technology, how to trade cryptocurrencies, and a fully-fledged program on learning Solidity. Once you find a course that you are interested in taking, you simply need to add it to your basket and make a payment.

Then, you can take as long as you wish to go through each module, as Udemy courses remain active for a lifetime.

Choosing a Course

With so many individual courses at Udemy – many of which aim to teach the same thing, you might be wondering how the platform separates the wheat from the chaff?

After all, with more than 150,000 individual courses hosted at the site, Udemy does not have the resources to pre-vet each and every offering. The good news is that Udemy is not required to rate courses itself, as this role is reserved for past and existing students.

In fact, the rating system operates much in the same way as an eBay seller, insofar that those buying goods and services have the chance to give feedback on the item. As such, unless a course has just been launched at the platform, you should have a good amount of feedback to draw from.

For example, let’s stick with our search for ‘blockchain’, which we then narrowed down to ‘Solidity’. In doing so, we are presented with 29 different courses. As such, the logical thing to do is sort the results by the course’s rating.

This leads us to a course named ‘Ethereum and Solidity: The Complete Developer’s Guide’ by Stephen Gride. In total, the course ranks an impressive 4.5/5 across just under 10,000 individual reviews. What we can also see is that the course lasts for 24 hours in total, across 250 lectures.

Ethereum and Solidity: The Complete Developer's Guide
Ethereum and Solidity: The Complete Developer’s Guide

Exploring a Course Before Payment

Once you have clicked on a course that you like the look of, you then get the chance to explore what the program consists of. At the forefront of this is a breakdown of [A] what you will learn and [B] what modules you will need to go through to complete the course.

What we really like is that you get to preview some of the individual modules in video format. In doing so, this gives you a full birds-eye view of whether or not the course is right for you. Ultimately, we all learn in different ways, so it’s always nice to see and hear how the content creators strive to get their information across.

How Much do Udemy Courses Cost

On the one hand, courses at Udemy can range from $0, right up to $100 or more. However, in the vast majority of cases, we find that courses sit within the $10-$30 range.

Regardless of what course you are taking, it is somewhat uncanny just how many programs are discounted by 85% or more. We would assume that Udemy does this to show that the courses are worth much more than they are selling for. With that said, value derives from the ratings and feedback that past or current students leave.

Nevertheless, it must be noted that at an average range of $10-$30, a lot of courses at Udemy offer tremendous value. As per the Solidity course that we briefly discussed earlier, you are paying $15 for more than 250 lectures, across 24 hours of high-level content.

30-Day Money-Back Guarantee

An additional protection that you have when buying a course at Udemy is the platform’s 30-day money-back guarantee. Irrespective of the reason, Udemy will give you a full refund if you feel that the course did not meet your expectations. This remains constant across each and every course at the site.

Post-Course Credit and Recognition

On the one hand, it is entirely feasible to learn a skill or subject area significantly faster than you would at a traditional academic institution.

For example, while a traditional Bachelor’s degree in accounting would take you 3 or 4 years, it’s possible to learn the same amount of information in at least half the time. This is because you can condense as much material as you can handle. In other words, while University students typically get 3-4 months worth of leave per academic year, you could be utilizing this time by studying additional courses at Udemy.

On the other hand, it is important to note that your Udemy courses will not be recognized in the same light as a university-based degree. While this might not necessarily hinder your chances of monetizing your new found skill, it’s important to bear in mind.

So now that we have covered the basics of what Udemy offers to those looking to learn a new skill, in the next section of our review we are going to focus on content creators.

Udemy Course Creators – The Basics

In a nutshell, if you have a skill that you think other people would pay to learn – then Udemy is right for you. For example, let’s say that you have been building WordPress websites for a number of years. While you don’t have any qualifications per-say, you feel that you know the platform like the back of your hand. As such, Udemy gives you the opportunity to build a course and sell it on their website.

In the vast majority of cases, Udemy courses consist of videos that are accompanied by extracurricular activities. For example, the course might ask you to complete a task before moving on to the next module. Each module typically lasts between 5-15 minutes – depending on the complexity of the topic.

Earn money every time a student purchases your course
Earn money every time a student purchases your course

Most modules will ask you to take a quiz of some sort to ensure you understand the material. As we discuss in more detail later, one of the main advantages of building a course through Udemy is that the design process is tailored to beginners.

This means that you are not required to have any skills or knowledge in building courses, as Udemy guides you through the entire process in a simple step-by-step manner. As such, you get to focus on the skill you are actually looking to market.

Building Your Course

As noted in the section above, Udemy wants its course creators to focus on what they know best – the skill they are looking to teach. As a result, the platform makes it a seamless process when building your course from scratch.

Your first port of call should be to load up the step-by-step video series that Udemy offers. This breaks down the entire end-to-end process of what it takes to build a course.

Somewhat ironically, you will also find courses at Udemy on how to build a course on Udemy. The platform itself offers its own version for free, while other content creators have launched their own paid-for alternatives. Either way, you have all of the information you need at Udemy to get started with a course straightaway.

What we also like is that Udemy gives you assistance on the technicals. This includes everything from getting your camera and lighting right, to downloading and installing screencasting software.

Udemy also gives you the option of getting your course reviewed by one of its team. This won’t cost you anything, and it ensures that any potential short-fallings are picked up on before hitting the market.

Teacher's Profile on Udemy
Teacher’s Profile on Udemy

How Much can you Make?

So that brings us to the golden question – how much can you make selling courses at Udemy? Unfortunately, there is no one size fits all answer to this question, as there are a number of variables to take into account.

Getting Your Pricing Right

First and foremost, Udemy does give you the freedom to set your own prices. The platform recommends a rate of between $10-$30 for each hour of course content.

For example, if your course is 10 hours long, you are advised to charge between $100 and $300. Unfortunately, it’s unlikely that you will get anywhere near this amount – especially if there are heaps of other established courses teaching the same thing.

As such, you do need to be very precise with what you decide to charge. For example, let’s say that you have created a course on how to build your own blockchain. Your first task should be to see what similar top-ranking courses are selling at. After all, if there are courses with thousands of 5-star ratings selling at $15, you likely won’t land a single student if you pitch in at $60.

On the contrary, you’ll be launching a branch new course with no feedback or ratings, so to be in with a chance of standing out from the crowd, you might be best to offer your course at a lower rate.

Building up Your Feedback

Much like you would as an e-book seller on Amazon, offering your Udemy course at a cost-effective price is likely to attract students. Once they have had the opportunity to enjoy your course, it is then hoped that they will leave you positive feedback, alongside a 5-star rating.

As you get more and more satisfied students, you should begin to notice your course go up the rankings. For example, while you might have initially started on page 10 of the search results on your blockchain course, you might now be sitting on page 2.

As such, this will allow you to increase the price of your course – and subsequently put it more in-line with your main competitors. Crucially, if you are confident that your course offers excellent value to those buying it, the rest should take care of itself.

Student feedback
Student feedback

The Volume Game

We often come across online courses in the public domain selling for hundreds, if not thousands of dollars. However, most sellers at Udemy sit within the all-important $10-$30 range. With that said, if your online course starts to fly off the shelf, you can make some serious cash.

To illustrate just how successful some course creators are at Udemy, let’s go back to our previous example – Ethereum and Solidity: The Complete Developer’s Guide.

As noted earlier, the course costs $15, and it has just under 10,000 positive reviews. However, upon closer inspection, the course has actually been purchased by just over 43,000 students. Doing the math – that amounts to total sales of $645,000.

It is also important to note that the course creator – Stephen Grider, has 26 Udemy courses listed at the site. In total, Grider has enrolled more than 556,000 students. This works out at millions of dollars in revenue, which is huge.

However, there is a major consideration that you need to make before you start counting your future revenues – Udemy commissions.

How Much Does Udemy Take?

Udemy is an online platform that is in the business of making money. As such, you as a content creator will need to engage in a profit-share agreement with the platform. In Layman’s terms, this means that for every course you sell at the platform, Udemy will take a commission.

This is no different to YouTube taking a cut of your advertising revenue, even though it was you that did all of the hard work. As such, this is just the name of the game.

Nevertheless, the profit-sharing model at Udemy is somewhat confusing at first glance, as it depends on how the student found the course.

  • Organic: If the student finds your course naturally – such as finding it through the search function, then there is a 50/50 split with Udemy. However, if the sale is made via the iOS or Android app, Apple and Google both charge a 30% fee on gross revenues
  • Instructor Promotion: If you were able to bring a new student to the Udemy platform yourself, and they proceed to purchase your course, then you get to keep 97% of the revenue. However, the student will need to enter a specific coupon or referral link to qualify. This is a win-win situation, as although Udemy gets less revenue, they have effectively acquired a new customer that might end up purchasing other courses.
  • Paid User Acquisition Channel Sales: Udemy partners with a number of third-party affiliates in the online space that will promote the platform. If the new customer ends up purchasing your course through one of these affiliates, then you will only get to keep 25% of the revenue.

As you can see from the above, there is quite the disparity in how much of your revenues you get to keep. Sitting anywhere between 25% and 97%, it really depends on how your students come across your course.

Is the revenue model fair?

Potentially, especially when you consider that you do not need to pay any fees to create or launch the course, so the only risk you are taking is your time. Crucially, when you do launch a course, you gain access to a platform that is home to more than 50 million members.

Udemy Public Reviews and Ratings

Taking into the account the numbers that Udemy publishes on its website, it’s clear to see that the platform is hugely popular with both content creators and students alike. With that said, it’s always a good exercise to see what reviews and ratings are like in the public domain.

Over at TrustPilot, it is somewhat surprising that the platform has a 3/5 ‘Average’ rating. This is only across 495 individual reviews though, which is very low when you consider the 50 million+ members that Udemy claims to have.

Trustpilot
Trustpilot Rating

Things are also a bit non-descript over at the Consumers Affairs website, with Udemy currently on a 2/5 rating. However, this is based across just 92 individual reviews, so this does need to be taken with a pinch of salt.

The good news is that the Udemy reviews are a lot more valid at Google Play, with more than 212,000 individual ratings. This yields a very impressive score of 4.4/5. Things also look good for Udemy on the Apple Store, with a 4.6/5 rating across 17,000 individual reviews.

Best Blockchain Courses at Udemy

So now that you know the ins and outs of how Udemy works, we are now going to discuss our some of the top blockchain courses that are currently available at the platform.

  1. Blockchain and Bitcoin Fundamentals by George Levy

If you’re looking to learn the key elements of blockchain technology, a great starting point would be to consider the Blockchain and Bitcoin Fundamentals course by George Levy. Priced at just $16, the course is an absolute steal.

Blockchain and Bitcoin Fundamentals
Blockchain and Bitcoin Fundamentals

The main premise of the course is split into three key segments. Firstly, you’ll obtain a strong understanding of what blockchain technology actually is. Next, you’ll then explore key vocabulary and concepts in the context of Bitcoin and the underlying blockchain protocol. Thirdly, you’ll then dive deeper into the fundamentals of Bitcoin.

The course consists of 3 hours of on-demand videos, alongside a small number of downloadable resources. The course has been extremely well-received by Udemy students, with more than 58,000 individual enrollments. Over 17,000 reviews, the course holds a strong rating of 4.5/5.

  1. The Complete Cryptocurrency Investment Course by Mohsen Hassan

If you’re more interested in cryptocurrencies and blockchain technology from an investment perspective, it might be worth exploring the merits of the Complete Cryptocurrency Investment course by Mohsen Hassan. As the name suggests, you will be guided through the end-to-end process of becoming an effective cryptocurrency trader.

The Complete Cryptocurrency Investment Course
The Complete Cryptocurrency Investment Course

This starts at the very offset with advice on how to buy cryptocurrencies via an exchange or broker, and then moving swiftly on to fundamental research. After that, you’ll learn how to safely secure your investments, perform technical analysis, and create a risk-averse cryptocurrency portfolio.

Although the course was recently launched, it has already been undertaken by 2,846 students. Over 434 reviews, the course is rated at 4.7/5. Crucially, you can get your hands on it for just $16. This includes 12 hours of on-demand videos, which you can access across your mobile, desktop device, or smart TV.

  1. Blockchain A-Z: Learn How To Build Your First Blockchain by Hadelin de Ponteves and Kirill Eremenko

If you’re looking for a serious career move into the world of blockchain technology, have a look at the Blockchain A-Z: Learn How To Build Your First Blockchain course. Created by Hadelin de Ponteves and Kirill Eremenko, the program gives you the full low-down on how to build your very own blockchain protocol.

Blockchain A-Z™: Learn How To Build Your First Blockchain
Blockchain A-Z™: Learn How To Build Your First Blockchain

You’ll learn a bunch of theory behind cryptocurrency transactions, smart contracts, and the wider blockchain ecosystem. You’ll then learn about creating a new cryptocurrency, and deploying smart contracts. In order to be suitable for the course, it’s best that you have basic knowledge of Python.

This is because you will need to understand the language to complete the practical side of the course. Once again, you’ll pay a fee of just $16 for the program, which gives you lifetime access. This consists of 14.5 hours of on-demand video, 11 articles, and 3 downloadable resources.

  1. Blockchain for Business 2020: The New Industrial Revolution by 365 Careers

An additional mention goes out to the Blockchain for Business 2020: The New Industrial Revolution course by 365 Careers. As the name suggests, this particular course is aimed at real-world businesses, and how they can benefit by embracing the blockchain phenomenon.

Blockchain for Business 2020: The New Industrial Revolution
Blockchain for Business 2020: The New Industrial Revolution

The course starts with an overview of what the blockchain is and how the fundamentals work. After that, you’ll get an inner understanding of key concepts surrounding mining, decentralization, smart contracts, and cryptography.

Once you have undertaken the technicals, the course then swiftly moves on to the business side of blockchain technology. This includes some examples of potential blockchain applications that could take your business to the next level.

Udemy Review: The Verdict

In summary, it’s clear to see how Udemy has attracted a membership base that now exceeds 50 million users. This translates into more 295 million individual course enrollments, which is nothing short of uncanny when you consider the platform was only launched in 2009.

From the perspective of content creators, you have the chance to market your skills, knowledge, and real-world experiences via the Udemy platform. In doing so, although you will need to engage in a revenue-sharing model, you are effectively gaining access to a multi-million student base where your potential earnings are limitless.

At the other end of the spectrum, students have access to over 150,000 courses at the click of a button. These courses cover virtually every subject area imaginable, so there’s sure to be something to suit your requirements. Not only are most courses reasonably priced, but you’ll benefit from an eBay-style rating system. This ensures that you pick courses that have been pre-vetted by prior students.

Visit Udemy

The post Udemy Review: Online Learning Platform for Students & Teachers appeared first on Blockonomi.

Trade360 Review: Online Trading Platform With CrowdTrading

Trade360 Review

If you’re currently in the lookout for an online trading platform, have you considered the merits of Trade 360? The CySEC regulated broker allows you to buy, sell, and trade heaps of asset classes. This includes the likes of stocks, currencies, indices, ETFs, and commodities.

You can view what your fellow Trade 360 members are buying and selling, and subsequently decide whether you want to trade with or against the general consensus.

Fancy finding out whether or not the broker is right for your personal trading needs? If so, be sure to read our in-depth Trade 360 Review. We cover the ins and outs of how the platform works, who it is suitable for, what fees you need to be made aware of, and more.

Trade360 Homepage
Trade360 Homepage

Visit Trade360

What is Trade 360?

Trade 360 is an online platform that allows you to trade a range of financial instruments. This includes a plethora of CFDs in the form of stocks, gold, and oil – as well as ETFs and indices. The platform also comes with a fully-fledged forex department, which is great for those of you that wish to buy and sell currencies on a 24/5 basis.

At the forefront of what Trade 360 offers is its innovative CrowdTrading feature. In a nutshell, the feature takes a social-approach to online trading, insofar that you can see what assets are in hot demand.

Some of the tradeable assets at Trade360
Some of the tradeable assets at Trade360

For example, if waves of investors are going long on EUR/GBP – and trading volumes are significantly higher than usual, you’ll be able to view this information at Trade 360. This then allows you to determine whether or not you want to “join the crowd”, or go against the money.

Am I Eligible at Trade 360?

Trade 360 accepts account applications from anyone in the EEA. Therefore, those of you based in the US will not be able to open an account. Take note, in order to comply with anti-money laundering laws – as well as the regulations set out by CySEC, Trade 360 will be required to identify all traders that use its services.

This means you will need to upload a clear copy of your government-issued ID before your first withdrawal is authorized.

Trading Platforms

When it comes to the trading platform itself, you’ll be offered a number of options to suit your personal investment needs. Most traders at the site will use the native Trade 360 online trading platform. This allows you to access the trading arena through your desktop browser, so there’s no need to download or install any software.

As is often a minimum requirement in the digital age of trading, the online platform allows you to customize your trading interface, and it’s operational on a 24/5 basis.

Trading Platforms
Trading Platforms

You can also access the native Trade 360 trading platform via your mobile device. This is facilitated by a dedicated mobile app that’s available on both Android and iOS devices. Crucially, this allows you to buy and sell assets while on the move, and ensure that you never miss a trade.

Alternatively, Trade 360 also allows you to trade via globally recognized platform MetaTrader5 (MT5). This is more suited for those of you that are looking for a more advanced trading arena and thus – comes jam-packed with heaps of trading features, charting tools, and technical indicators.

The MT5 integration also allows you to benefit from fundamental analysis, and set up multiple charts on a single screen.

Deposits and Withdrawals at Trade 360

As an online broker that seeks to cater to both newbie traders and seasoned investors, Trade 360 offers a highly extensive payments department. First and foremost, you will be required to meet a minimum deposit amount of $250.

When it comes to funding your account, you’ll be able to deposit via a debit/credit card – which includes Visa, MasterCard, and Maestro. On top of Trustly and Paysafecard, Trade 360 also accepts Skrill and Neteller. Unfortunately, PayPal isn’t supported.

Does Trade Offer Leverage?

On the one hand, Trade 360 advertises leverage facilities of up to 400:1 for clients with a “Pro” Account, which is huge. This means that a $300 deposit would effectively allow you to execute a trade worth $120,000. However, retail clients will be restricted in the amount of leverage that can be applied.

For example, if you’re based in the European Union, you will be bound by the restrictions imposed by ESMA. This limits leverage on major and minor forex pairs to 30:1 and 20:1, respectively. Gold and major indices are also capped at 20:1, while other commodities and non-major equities are limited to 10:1.

Trading Fees, Commissions and Slippage at Trade 360

As is the case with any new broker that you are considering joining, you need to have a firm grasp of how much you are going to be charged to trade. Firstly, the platform does not charge any trading commissions or fees per-say, as everything is built into the spread. However, the spread in itself is an indirect fee, so do bear this in mind.

The specific spread will ultimately depend on the type of asset that you are trading. At the lower end, major currency pairs like EUR/USD come with a spread of 3 pips, while GBP/USD and EUR/GBP sits at 5 pips. You’ll need to trade during Sunday (22:00) and Friday (21:00) to get these spreads.

Currency Spreads

Mini Standard Gold Platinum VIP
EUR/USD 4 3 2 2 2
GBP/USD 5 5 3 3 2
USD/JPY 5 4 3 3 2
EUR/GBP 6 5 4 4 3

 

In the commodity department, you’ll pay 7 pips and 65 pips on oil and gold, respectively.

Commodity Spreads

Mini Standard Gold Platinum VIP
Gold 70 65 55 50 45
Oil 8 7 5 5 4
Silver SP 750 700 550 550 500
Natural Gas 35 25 15 15 12

 

When it comes to stocks and shares, the specific spread will depend on the equity. For example, while Facebook and Apple stocks have a spread of 128 pips, Tesla is slightly higher at 160 pips.

Stocks Spreads

Mini Standard Gold Platinum VIP
Tesla 165 160 155 150 145
Apple 142 138 134 130 126
Aselsan 90 80 70 60 55
Facebook 142 138 134 130 126

 

You will also pay a fee if you apply leverage to your trades – as is industry standard. Known as ‘rollover charges’, you’ll pay a fee for every night that you keep a trading position open.

Once again, the specific fee will depend on the financial instrument that you are trading. Finally, Trade 360 notes that although slippage is rare at the platform, it can occur during times of extreme market volatility.

Is Scalping Allowed?

Trade 360 is very clear on its policy regarding scalping. For those unaware, this is where you open and close a position for a matter of seconds, with the view of ‘scalping’ ultra-small profits.

Trade 360 notes that you will need to wait at least one minute before an open trade can be closed.

Trade 360 Demo Account

It is also notable that the team at Trade 360 has installed a proprietary demo account. This allows you to get a firm grasp of how the platform works before risking your own money. The fundamentals of the demo platform operates the same as the real-money account, albeit, you’ll be trading with paper funds.

Is Trade 360 Safe?

Trade 360 is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).  Cyprus is a member of the European Union. As such, your funds are protected by a range of consumer safeguards.

Contact Trade 360

If you need to speak with a member of the Trade 360 customer support team, the easiest way to do this is via live chat. You can also call the team directly at +357-25-030-622, or send an email at support@trade360.com.

How to get Started With Trade 360 in 5 Minutes

Like the sound of what Trade 360 offers and want to get started today? If so, follow the quickfire step-by-step guidelines listed below.

  • Step 1: Open an Account First and foremost, you’ll need to open an account with Trade 360. You’ll need to enter some personal information so that the broker knows who you are.
  • Step 2: Verify Your Identity You will be required to verify your identity through supporting documentation. Simply upload a copy of your government-issued ID.
  • Step 3: Deposit Funds You will now need to fund your newly created Trade 360 account. You can choose from a debit/credit card, Skrill, Neteller, Trustly, and more.
  • Step 4: Trade As soon as your deposit is credited, you can start trading straightaway.

Trade 360 Review: The Verdict?

In summary, there’s much to like about the Trade 360 platform. On top of listing heaps of financial instruments across most asset classes, account minimums are low at just $250. The broker does not charge any trading fees or commissions other than the spread, and you won’t be charged to deposit funds.

However, the standout selling point to Trade 360 is its innovative CrowdTrading feature. This allows you to view what your fellow traders are buying and selling. This includes a breakdown of where the money is going, and what assets are experiencing enhanced trading volumes.

We also like the fact that Trade 360 gives you a number of options when it comes to choosing your preferred platform. This includes the broker’s proprietary online trading platform, an iOS/Android mobile app, and even MetaTrader5 compatibility.

All in all, Trade 360 ticks most boxes.

Visit Trade360

The post Trade360 Review: Online Trading Platform With CrowdTrading appeared first on Blockonomi.

Bankera Loans: Unique Solution for Crypto Lending

Bankera

It was only a matter of time before cryptocurrency-based loans became a thing. One such provider that recently entered this innovative marketplace is Bankera Loans.

Launched in late 2019, the platform offers crypto-backed credit lines from just €25, up to a whopping €1 million.

Fancy finding out whether or not Bankera Loans is right for your crypto-financing needs? Be sure to read our in-depth review.

What is Bankera Loans?

In a nutshell, Bankera is an online platform that allows you to obtain a line of credit, in return for putting your cryptocurrency holdings up as collateral. In this sense, the platform operates in a similar nature to a traditional secured loan, insofar that the size of collateral will dictate how much you can borrow.

Bankera Loans Homepage

In the case of Bankera Loans, this starts at just €25 and goes up to a maximum of €1 million. As we’ll cover shortly, the interest that you pay on your crypto line of credit will depend on a number of variables. At the lower end, you can get an APR of 6.95% if the line of credit is based on the LTV (loan-to-value) of 25% or less, and you borrow €5,000 or more.

At the higher end, you’ll pay up to 16.95% APR if you require the LTV of between 50% and 75%,  and you borrow less than €1,000. Regardless of the amount you wish to borrow, all loans are based on a term of 12 months. However, you can pay your loan off early at no extra cost, or potentially extend it further if the need arises.

One of the most attractive aspects of using an alternative lender like Bankera Loans is that you can choose how you wish to receive the funds. For example, you have the choice of having your loan funds paid in cryptocurrency or deposited into your Euro-denominated bank account.

Finally, it is also important to note that Bankera has its very own digital token. Known as the Banker (BKN) token, it gives you the opportunity to reduce your interest rates further.

So now that you have a brief overview of what Bankera Loans is, in the next section, we are going to explore how the financing process works in more detail.

How Does Bankera Loans Work?

Here’s a step-by-step process of how a Bankera Loans line of credit would work in practice.

Step 1: Assess How Much You Wish to Borrow

First and foremost, the amount that you will be able to borrow through Bankera Loans will depend on the value of your collateral. As is the case with most secured loans in the traditional space, this is based on the LTV of the underlying asset.

For example, let’s say that you have 1 BTC. For simplicity, we’ll assume that the current value of BTC is €10,000. Bankera Loans offers an LTV of up to 75% on its lines of credit, meaning that you would be able to borrow a maximum of €7,500 (75% of €10,000).

Step 2: Deposit Your Collateral

Once you’ve decided how much you wish to borrow, you will then need to deposit your collateral. This will always be in cryptocurrency, and the specific coin that you can use will depend on the loan package you opt for.

Nevertheless, the deposit process works much in the same way as a third-party cryptocurrency exchange, insofar that you’ll need to transfer the coins to your unique Bankera Loans wallet address. Once the funds arrive, you’ll be able to start drawing down your credit line.

Step 3: Withdraw Your Loan Funds

It is important to note that you are under no obligation to start drawing down your Bankera Loans credit line. On the contrary, if you decide further down the line that you no longer wish to borrow anything, you can simply withdraw your collateral back out.

With that said, you will have the option of drawing the loan funds down in fiat currency or cryptocurrency. If opting for the latter, you’ll need to have a bank account that is denominated in Euros.

As soon as you start drawing your line of credit down, interest will be applied to the amount that you borrow.

How do I Repay My Line of Credit?

You will need to repay at least the interest amount each month. This is due on the same date that you withdrew the money out, albeit, one month later.

In terms of making the payment, you once again have two options. For those that wish to stick with fiat currency, you can make your repayments via your European bank account. You need to verify your identity before you can do this.

Bankera Rates

Alternatively, you can repay the interest with a supported cryptocurrency.

Take note; you also need to keep an eye on the value of your collateral. Unlike  traditional loan security that is denominated in fiat currency, your cryptocurrency holdings will go up and down in value. As such, you stand the risk of having your security liquidated if the LTV of your loan reaches 90% or more.

If this is the case, Bankera Loans will likely attempt to sell your collateral in the open market to cover what you owe. As such, you are advised to top-up your collateral position to ensure your funds are not liquidated.

Financing Packages at Bankera Loans

Bankera Loans offers three different loan packages – each of which comes with varying rates of interest.

Here’s the lowdown of what you need to know.

Lowest Rates:

In order to receive the lowest interest rates on your line of credit, you’ll need to keep the LTV to 25% of less. In doing so, you’ll get 6.95% for borrowing €5,000 or more, and 8.95% for loans of between €1,000-€5,000.

Loans of less than €1,000 will attract the interest of 10.95%

You will have the option of depositing your collateral in BTC, ETH, XEM, or DASH.

Most Popular:

 If you need an LTV ratio of between 25% and 50%, you’ll need to pay a higher rate of interest. Loans of below €1,000 cost 13.95%, while loans of €5,000 or more cost 9.95%.

If you borrow between €1,000 and €5,000, this will cost you 11.95% in interest. Take note; you’ll only be able to deposit BTC or ETH if opting for this package.

Max LTV:

If you need to borrow an LTV amount that sits between 50% of 75%, you’ll pay the highest rates offered by Bankera Loans.

Loans of less than €1,000 cost 16.95%, while loans of between €1,000 and €5,000 cost 14.95%.

Finally, loans of €5,000 or more attract an interest rate of 12.95%. Once again, your collateral needs to be paid in either BTC or ETH.

Regardless of which package you opt for, you can borrow between €25 and €1 million, and choose to receive your loan funds in cryptocurrency or Euros.

Customer Support

Customer support at Bankera Loans is available on a 24/7 basis via live chat or email.

The Verdict?

In summary, Bankera Loans is a notable option if you’re looking to borrow between €25-€1 million, and you’re happy to put your cryptocurrency holdings up as collateral.

While the lowest rates are reserved for those looking for an LTV ratio of 25% or less, the platform can facilitate loans of up to 75%.

The most attractive selling point of Bankera Loans is that you have the option of having the funds transferred into your Euro-denominated bank account or via cryptocurrencies.

The post Bankera Loans: Unique Solution for Crypto Lending appeared first on Blockonomi.

Coinloan Review: Cryptocurrency-Based P2P Loans Platform

Coinloan Review

The peer-to-peer lending space has grown to exponential heights in recent years, not least because it’s a win-win situation for both the borrower and lenders. Regarding the former, P2P sites pave the way for a seamless borrowing process that does away with never-ending documents.

And the latter – P2P sites allow everyday investors to lend their money out in return for fixed interest. As such, it was only a matter of time before the phenomenon reached the cryptocurrency arena.

At the forefront of this is Coinloan – which claims to be the first P2P lending platform for loans backed by crypto assets.

In a nutshell, the platform allows individuals to borrow funds against cryptocurrency holdings – with a Loan-to-Value (LTV) of up to 70% on offer.  For those looking to make some passive income, Coinloan typically offers double-digit returns when funding the investment with fiat currency or stable coins.

Fancy finding out whether or not the P2P lending platform is right for your financing or investment needs? Be sure to read our Coinloan review.

Coinloan homepage
CoinLoan is the first P2P lending platform for cryptoassets backed loans

Visit CoinLoan

What is Coinloan?

In its most basic form, Coinloan is a peer-to-peer lending platform that caters to both borrowers and investors. For those looking to borrow money, the platform operates in a similar nature to a secured loan. This is because you will be required to put your cryptocurrency holdings up as collateral.

In return, you’ll be able to borrow up to 70% of the cryptocurrency’s LTV. Moreover, this also alleviates the need to have a credit check carried on you, so the platform is suitable even if you are in possession of a bad credit rating.

How the Platform Works
How the Platform Works

Coinloan allows you to borrow funds on both a short-term and long-term basis. This covers loan terms of just 7 days, all the way up to 3 years. You will, of course, need to pay interest on the borrowed funds as you would with any other loan provider.

At the other end of the spectrum, Coinloan is also suitable for those of you that wish to earn passive income. The platform allows you to invest fiat currency and stable coins, with the funds then being distributed to those that borrow money from Coinloan. In return, the platform offers a rather juicy headline rate of 12% per year. However – and as we’ll cover in more detail shortly, the exact rate will vary depending on a number of variables.

In terms of the company itself, Coinloan was first launched in 2016 and it has its headquarters in Estonia. The company is regulated by the Estonian Financial Supervision Authority – meaning it holds the required European Financial Licenses to operate.

There’s much to learn about the core services offered by Coinloan, so it’s probably best that we explore the platform from the perspective of the borrower and the investor.

Using Coinloan as a Borrower

If you’ve previously borrowed funds from a traditional financial institution, then you’ll know first-hand just how cumbersome the process can be. You’ll be required to fill out countless documents – even when applying online. You’ll then have a credit check run on you, with the search likely to appear on your credit report.

Most importantly, if your credit profile is less than ideal, then you might have your loan application denied on the spot.

Benefits for Borrowers
Benefits for Borrowers

As such, it’s well worth considering an alternative lending platform like Coinloan – as long as you’re in possession of cryptocurrencies. As noted above, you’ll need to deposit your cryptocurrencies at Coinloan in order to be eligible for financing, and the amount you can borrow is based on the market value of your security at the time of the deposit.

Let’s break down some of the fundamentals.

Loan Size

Coinloan bases its financing products on the LTV of your cryptocurrency security. This can go as high as 70%, which is huge. For example, let’s say that you decide to put $10,000 worth of Bitcoin up as collateral. If eligible for the maximum LTV of 70%, you would be able to borrow up to $7,000.

Take note, the LTV is based on the current market value at the time you make the deposit. Knowing just how volatile cryptocurrencies can be, the LTV is likely to move on a daily basis. As such, you’ll give yourself a much larger safety net by choosing a lower LTV.

Instant Loans
Instant Loans using your crypto as collateral

Supported Cryptocurrencies

The platform currently supports seven crypto assets as a means to securitize your loan application. This includes the following:

  • Ethereum (ETH)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Monero (XMR)
  • Ontology (ONT)
  • CoinLoan Token (CLT)

Coinloan notes that it plans to add more supported cryptocurrencies in the very near future. You’ll also notice that the platform has its own digital token – the CoinLoan Token (CLT).

Interest Rates

There is no fixed interest rate per-say at Coinloan, as this will vary from borrower-to-borrower. This will depend on the amount being borrowed, the term of the loan, the type of cryptocurrency used as collateral, and the size of the LTV.

Crucially – and fully in-line with the P2P ethos, the final interest rate is determined by the markets. As investors will get to choose which loans they back, the interest will vary as per market conditions.

It is also important to note that you get to choose from an Interest-Only agreement or a Principal + Interest agreement. If opting for the former, your repayments will only include the interest, with the principal due on your last repayment date.

Wallet
The wallet page for depositing your crypto as collateral

How are my Coinloan Funds Paid?

Once you’ve had your loan confirmed by the platform, you will have a number of options when it comes to accessing the funds. This includes fiat currency, stable coins, and cryptocurrencies.

Fiat Currency

You can withdraw your loan funds in EUR, USD, GBP, or RUB.

Coinloan supports the following payment channels to execute the withdrawal:

  • SEPA
  • SWIFT
  • AdvCash
  • Alfa-Bank

Stable Coins

If you choose to withdraw your loan funds as a stable coin, you can choose from the following:

  • TUSD
  • USDC
  • USDT
  • PAX
  • DAI
  • EURS

Cryptocurrencies

Loan funds can also be paid out in the following cryptocurrencies:

  • BTC
  • ETH
  • LTC
  • XMR
  • CLT

How and When do I Need to Repay my Coinloan Funds?

Firstly, when you go through the Coinloan application process, you’ll get to choose the length of your required loan term.

You can choose from the following

  • 7 days
  • 14 days
  • 1 month
  • 3 months
  • 6 months
  • 1 year
  • 2 years
  • 3 years

Regardless of the loan term that you opt for, you will need to make your repayments in the same currency that you borrowed. For example, if you borrowed the funds in USD, then you’ll need to repay in fiat currency. Similarly, if you borrowed Bitcoin, repayments need to be made via BTC.

Your first repayment will be due 30 days after the funds were drawn down from Coinloan, and then every 30 days after that. However, if you opted for a short-term loan of fewer than 30 days, you’ll need to make your repayment in-full before the last day of the loan. For example, if you borrowed the cash on a 14-day term, then you’ll need to make the repayment no later than day 14.

LTV Risks and Falling Behind on Repayments

It is crucial that you have a firm understanding of the risks of borrowing funds from Coinloan. The reason for this is that your loan is based on the market value of your cryptocurrency security at the time of the deposit. With the cryptocurrency markets operating in a highly volatile battleground, the value of your security will fluctuate on a daily basis. As such, this will impact the LTV of the loan, meaning that you could step into ‘liquidation’ territory.

Here’s how it works:

  1. Let’s say you take out a loan from Coinloan at an LTV of 70%. This would be the maximum LTV offered by the platform.
  2. You deposited Bitcoin as your security when it was worth $8,000. This means that you borrowed $5,600.
  3. However, a few weeks later the value of Bitcoin begins to decline. With Bitcoin now worth $7,000, your loan amounts to an LTV of 80% – based on the $5,600 you borrowed.
  4. As such, you’ll receive a notification from Coinloan letting you know that you run the risk of being liquidated.
  5. You can either repay some of the loan funds to bring your LTV ratio back down, or do nothing.
  6. If you choose to do nothing and the price of Bitcoin continues to decline, Coinloan will proceed to sell your holdings to bring the LTV down.

On the flip side, there is always the chance that the LTV of your loan will decrease if the value of your securitized cryptocurrencies goes up. If this is the case, you will have the option of borrowing more money against your collateral.

So now that you have a full-and-frank understanding of how Coinloan works from the perspective of the borrower, we are now going to explore what the platform is like for those of you that wish to invest.

Using Coinloan as an Investor

If you’re an everyday investor that’s looking to make a bit of passive income on the side – it’s well worth considering the metis of Coinloan. This is because the platform offers generous returns that often fall within the doubt-digit threshold.

While the specific yield on offer will vary, Coinloan advertises an annual interest rate of 12%, which is very competitive.

Benefits for Investors
Benefits for Investors

Step 1: Open an Account and Confirm Your Identity

If you’ve ever used a peer-to-peer lending platform before, the process works largely the same at Coinloan.

First and foremost, you’ll need to create an account and then go through the KYC (Know Your Customer) process. This is a requirement because of Coinloan’s relationship with fiat money – and more importantly, due to its regulatory standing.

Signup
The signup process is straight forward

As such, you’ll need to upload a copy of your government-issued ID, which can be a passport or national ID card. If you’re from the US, this can also be a driver’s license. You will also need to upload a picture of you holding the ID next to your face. This ensures that you are who you say you are.

Step 2: Deposit Funds

You’ll get more deposit options when using the platform as an investor. This includes a bank transfer through SWIFT or SEPA, as well as a debit or credit card. If using a credit card, make sure that your bank doesn’t categorize the deposit as a cash advance. If it does, you might get charged 3% interest straightaway – which will then have a direct impact on your Coinloan yield.

Deposit Funds
Deposit Funds

Take note, the primary currency utilized by the lending side of the platform is EUR. While you can use a card or bank account from any country, if it’s a non-EUR payment Coinloan will automatically convert it at the point of the transaction. Once again, this could present additional fees.

Step 3: Invest in a Loan

Once you have funded your Coinloan account, you are then ready to make your first investment. You have two options available to you. Firstly, you can set up your own loan parameters and then post it to the Coinloan marketplace. This should include metrics such as the amount you are happy to lend out, for how long, and at what interest rate.

Lending Market
Lending Market – Loans on offer

Alternatively, you can head over to the marketplace to see what loan requirements are already live. This is where borrowers have posted their requirements –  so if you like the look of a particular financing request, you can back it straightaway.

Whichever option you do decide to go with, the investment will be taken from your Coinloan account balance.

Step 4: Receive Your Repayments

Once you have backed a loan at Coinloan, the repayment process works the same as any other P2P site. If opting for a short-term loan of fewer than 30 days, you will receive your repayment in one-hit. This will be on or before the loan term maturity date. For example, if you opt for a 7-day loan term, you should receive your repayment on day 7 at the latest.

Alternatively, if the loan is at 3 months or more, you will receive monthly repayments. The specific amount will depend on whether you opted for an Interest-Only structure, or Principal + Interest. If it’s the former, then you will only receive the applicable interest each month, and then the initial principal on the last repayment date. If it’s the latter, then you will receive equal repayments each month until the loan is repaid in full.

Coinloan Interest Account

The other option that you have at your disposal as an investor is the Coinloan Interest Account. This allows you to earn 8% interest per year for depositing your digital tokens at Coinloan.

At the time of writing, this only includes USDC, USDT, and PAX. The interest can change at any given time, although the investment is not based on a minimum term. As such, you can withdraw your coins back out as and when you see fit.

Coinloan Interest Account
Coinloan Interest Account

Is my Money Safe at Coinloan?

Irrespective of whether you are a borrower or an investor – you need to have a firm understanding of how safe your money is at Coinloan. First and foremost, Coinloan holds a number of regulatory licenses and certificates.

This includes a FinCEN MSB Registration, FATCA FFI Registration, MTR Virtual Currency Wallet Service License, and an MTR Financial Institution License. The platform also publishes its three European Financial License numbers, which are:

  • FVR000111
  • FRK000091
  • FFA000241

From the perspective of borrowers, your biggest risk is the collateral that you have stored at Coinloan. In order to counter these risks, Coinloan does not store any private keys on network-connected devices, and all crypto assets are stored in cold multi-signature wallets.

Moreover, all withdrawals are processed manually. While this does mean that withdrawals are not instant, this ensures that your funds are kept safe at all times.

If you’re an investor at Coinloan with outstanding loans, the biggest risk that you face is a default. The good news is that all loans at Coinloan are securitized with crypto assets, which the platform will seize and sell in the event of a default.

Customer Support

If you need to speak with a member of the Coinloan customer support team, you can do this via live chat. Alternatively, you can send the team an email at support@coinloan.io

The support team at Coinloan also has a presence on social media, which includes Facebook, Twitter, and Telegram.

Coinloan Review: The Verdict?

In summary, Coinloan offers an interesting alternative to the ever-growing peer-to-peer lending space. If you’re a borrower that’s in possession of a supported digital currency, then you stand the chance of a loan of up to 70% LTV of the asset’s market value.

Not only can you opt to receive the funds in either fiat currency or cryptocurrency, but there are no credit checks carried out. As such, the platform is suitable even if your credit is less than ideal.

At the other end of the spectrum, Coinloan is also notable for those of you in the lookout for passive income. By depositing fiat currency and setting up your preferred loan terms, you can earn up to 12% in annualized yield.

While the investment isn’t 100% fool-proof, you do have the added security of the borrower’s crypto-collateral.

Visit CoinLoan

The post Coinloan Review: Cryptocurrency-Based P2P Loans Platform appeared first on Blockonomi.

BearTax Review: Bitcoin & Cryptocurrency Tax Software With Automated Calculations

BearTax Review

So, you’re a seasoned cryptocurrency investor that has placed hundreds, if not thousands of trades over the past 12 months. While this is likely to be a logistical nightmare for your tax reporting endeavors – this doesn’t matter, because cryptocurrency profits are not taxed, right?

Wrong!

On the contrary – while the specific tax treatment of cryptocurrency trading will vary from jurisdiction-to-jurisdiction, a significant number of tax authorities now require you to include cryptocurrency capital gains within your tax return.

As such, it is absolutely fundamental that you get your cryptocurrency taxes in order – otherwise, you could be getting a rather demanding letter from your local tax authority. Ultimately, tax evasion is a serious crime regardless of where you are based, which is why it might be worth considering an automated cryptocurrency tax platform like BearTax.

The platform allows you to track all of your cryptocurrency trades in an autonomous manner, meaning the underlying software will provide a breakdown of your profits and losses – and crucially – how much you owe to the taxman.

Fancy finding out whether or not the crypto-centric software provider is right for you? If so, be sure to read our in-depth BearTax Review.

Visit BearTax

What is BearTax?

In a nutshell, BearTax is an online platform that offers cryptocurrency portfolio tracking services – with the view of ascertaining your overall profits and losses.

In doing so, this makes it a seamless process when it comes to filing your annual tax returns. BearTax does this through an innovative API-based algorithm that links up with your chosen cryptocurrency exchanges. This includes the likes of Binance, Gemini, KuCoin, Coinbase – and many others.

The BearTax Homepage
The BearTax Homepage

The overarching selling point of BearTax is that it makes the impossible possible. By this, we mean it not only solves the woes of attempting to calculate your cryptocurrency capital gains in dollars and cents, but it also allows you to assess what taxes you are likely to owe.

Without utilizing a software platform to do this for you, endless hours of manual work would be required.

Rarely do exchanges give you a full breakdown of how much you’ve made or lost in fiat currency – which is what tax authorities like the IRS are interested in. These issues are further amplified if you’re a day trader, or an investor utilizing automated high-frequency software. As such, the only way around this is to perform a highly manual and cumbersome calculation process.

Once the financial year has concluded – and you’ve got all of your cryptocurrency profits and losses merged into a single portal – BearTax then allows you to download your tax documents automatically.

Alternatively – if you need to include your cryptocurrency gains with other areas of tax (such as property tax or income tax), the platform allows you to link your data with third-party software programs like TurboTax.

How Does BearTax Work?

The process of using BearTax for your cryptocurrency tax needs is super-easy. Here’s a breakdown of what you need to do.

Step 1: Create an Account

To get the ball rolling, you’ll need to head over to the BearTax homepage and create an account. This will require you to enter some personal information, as well as choose a username and password.

BearTax Signup Page
BearTax Signup Page

Step 2: Connect Cryptocurrency Exchanges

Once you’ve got your account set-up, you will be required to connect your cryptocurrency exchange accounts with BearTax. This is a fairly straightforward process, although the specifics can vary from exchange-to-exchange.

Moreover, you’ll have the option of allowing BearTax to track your trades automatically, or you can upload the required data as and when you choose to.

If opting for the former, you will need to link your cryptocurrency exchange API with BearTax. You’ll typically find this within your exchange account settings. Once you’ve found it, copy the long string of characters and then paste them into BearTax.

If opting for the manual process, or your chosen exchange does not support API integration, you will need to upload a CSV document into BearTax. You’ll get this by downloading it from your cryptocurrency exchange.

Connect your Exchanges
Connect your Exchanges via API or CSV upload

Step 3: Assess Your Profits and Losses

Whether you decide to do this on a regular basis – or only when tax time comes around, BearTax allows you to calculate your overall profits and losses for a pre-defined period.

It will then provide the required information for you to file your taxes with your respective authority.

Automatically calculate profit and loss on every transaction
Automatically calculate profit and loss on every transaction

What Exchanges is BearTax Compatible With?

In effect, BearTax is compatible with every cryptocurrency exchange in the market. However, the specific reporting method will depend on the exchange you are using. In terms of utilizing the API link-up or CVS upload, this is supported by more than 50 exchange platforms.

This includes all of the “big-boys”, such as Binance, Coinbase, Bittrex, Gemini, Poloniex, Bitstamp, and Kucoin. This also includes less liquid exchanges like Lykke, Coinspot, and IDEX.

If your chosen exchange(s) is not covered, BearTax offers a workaround. This centres on a generic CSV template that allows you to add in your trades manually. Once you do, BearTax will then perform the required calculations. However, this option is extremely time-consuming, so it’s best to stick with one of the 50+ exchanges supported by BearTax.

Import from 50+ exchanges via API and CSV.
Import from 50+ exchanges via API and CSV.

What Much Does BearTax Cost?

BearTax is a paid-for service, which consists of four different pricing plans. Before we provide a breakdown of what you get for your respective plan, it is important to note that you are not required to pay upfront.

Instead, once you have imported all of your transactions, you will get to choose a plan and make payment based on the extensiveness of your trades.

For example, if you only performed 15 trades throughout the financial year, then you would only need the basic plan – which costs just $1 per year.

BearTax Pricing Structure
BearTax Pricing Structure

Basic Plan – $1 Per Year

The basic plan – which costs a measly $1 per year, allows you to track and calculate up to 20 transactions – which you can do across an unlimited number of exchanges. In fact, all four of the plans offered by BearTax allow you to track an unlimited number of cryptocurrency exchanges, which is great.

Intermediate Plan – $30 Per Year

The intermediate plan increases your annual allowance to 200 transactions per year. Moreover, you’ll also have access to email support – which the basic plan doesn’t allow.

Expert Plan – $100 Per Year

At $100 per year, the expert plan permits up to 1,000 transactions per year. Moreover, support is offered via live chat in real-time, as opposed to having to wait for an email reply.

The expert plan also allows you to merge multiple accounts at the same exchange (for example if you have two accounts at BitMEX for the purpose of automated trading – which is perfectly fine).

Professional Plan – $200 Per Year

The most expensive package offered by BearTax is that of its $200 per year professional plan. You will have the capacity to track up to 10,000 transactions per year, and you’ll also get priority chat support on a 24/7 basis.

The professional plan also allows you to connect your files with your chosen accountant, as well as import custom files.

Which Countries Does BearTax Support?

At the time of writing, BearTax only supports tax returns being reported in the following jurisdictions:

  • Australia
  • Canada
  • India
  • United States

The team at BearTax is looking to add more countries in the near future – with Japan in the pipeline for 2020.

Important Features Offered by TaxBear

Here’s a breakdown of some of the main features offered by BearTax:

FIFO and LIFO Calculations

Regardless of the specific tax category, it is important that you keep your FIFO (First in First Out) and LIFO (Last in First Out) calculations consistent.

Failure to do so can lead to sanctions from your respective tax authority. As such, BearTax allows you to choose whether you want to opt for FIFO or LIFO, and then implement this on all future calculations.

FIFO or LIFO
Apply FIFO or LIFO to process your trades based on the previous year’s tax filing method.

Form 8949

If you’re based in the US and you’ve previously completed a tax return – then you’ll know the importance of Form 8949. For those unaware, this is the form used to report annual capital gains and losses. The good news is that BearTax allows you to download your Form 8949 with all of the required information.

This effectively removes hours of manual work that would have otherwise been required. Furthermore, BearTax then allows you to automatically forward the form onto your accountant.

Autogenerated tax documents.
Autogenerated tax documents.

Audits

Did you know that most tax authorities around the world have the legal remit to audit your accounts years after they have been submitted? The IRS, for example, quotes a post-submission audit period of three years, albeit, it can go even further if it feels it is justified.

BearTax allows you to provide a full breakdown of any information that your respective tax agency requires. For example, if a specific transaction is being queried, you can simply log in to your BearTax account and view it in seconds.

Export to Account Software

BearTax also allows you to export your cryptocurrency tax obligations to external software programs. This includes the likes of TurboTax and TaxAct.

This is likely to be highly beneficial if your tax return includes other areas of your financial life – such as income tax, property tax, or capital gains made in other asset classes like stocks.

Purchase and Sale Price

When the BearTax system undergoes the process of calculating your profits and losses, it looks at a number of key variables. This includes the amount that you paid for the coin at the time of the purchase, as well as the amount received when you sold it.

Moreover, the TaxBear calculation also looks at whether the transaction is a short-term trade (less than 12 months) or a long-term trade (12 months or more). This is something that can impact the amount you owe, so it’s notable that TaxBear has you covered.

Do I Need to Pay Taxes on Cryptocurrency Profits? If so, how Much?

First and foremost, it is important to note that you should always seek professional advice from a qualified tax specialist – especially when it comes to a complex battleground like cryptocurrencies. With that said, those of you based in the US will all-but certainly need to pay taxes on your cryptocurrency gains in the following circumstances:

  • You sell cryptocurrencies that were acquired through mining
  • You sell cryptocurrencies that purchased from a third-party
  • You use cryptocurrencies to initiate a transaction, of which the cryptocurrencies were acquired through mining
  • You use cryptocurrencies to initiate a transaction, of which the cryptocurrencies were purchased from a third-party

As you can see from the above guidelines provided by Investopedia – you might be required to pay taxes even when your cryptocurrencies were used to purchase goods and services. This makes it extremely difficult to know how much you owe.

Crucially, this isn’t something that BearTax can help with – not least because it focuses exclusively on cryptocurrency profits and losses made through trading.

In terms of the specific rates, this will depend on a number of variables. For example, if the transaction was based on a purchase and sale that both occurred within a 12-month period, you’ll need to revert to short-term capital gains taxes. On the contrary, if the cryptocurrency trade was held over a period of 12 months or more, it will fall within the long-term capital gains bracket.

BearTax Review: The Verdict?

In summary, BearTax allows you to remove the highly cumbersome task of calculating your cryptocurrency profits and losses. In doing so, you will then have the capacity to report your annual gains in a seamless process.

All you are required to do is link your cryptocurrency exchanges with BearTax via a simple API, or alternatively, upload your CSV file directly into the platform. Either way, you’ll get a full breakdown of how much you will need to pay, subsequently saving you hours of manual work.

Even if you were to sign up to the professional plan – which is only required if you find yourself opening and closing up to 10,000 trades annually, BearTax will only set you back $200 per year. This could be the difference between you getting your cryptocurrency tax returns submitted correctly – or instead, receiving a demanding letter from your local tax authority.

Visit BearTax

The post BearTax Review: Bitcoin & Cryptocurrency Tax Software With Automated Calculations appeared first on Blockonomi.

Revolut Review: Digital Banking App & Card with Crypto Support

Revolut Review

The banking industry as we know it today is changing at a rapid pace. The days of walking into your local branch to open an account with countless documents are a thing of the past. Add in the likes of cashing a cheque, paper statements, telephone support, or physically transferring funds – and you get the drift.

Que Revolut.

The challenger banking application allows you to perform the vast majority of your everyday banking needs at the click of a button. Whether its opening an account in minutes, sending and receiving payments, transaction monitoring, or exchanging currencies – Revolut allows you to do this via a simple mobile app.

However, with the challenger banking arena still in its infancy, can the likes of Revolut be trusted? With that being said, if you’re thinking about opening an account with Revolut, we would suggest that you first read our comprehensive review.

We’ve covered everything that you need to know to be able to make an informed decision – such as how the app works, what you can do, fees, eligibility, safety, and more.

Visit Revolut

What is Revolut?

In its most basic form, Revolut is a mobile application that allows you to operate a current account. Founded as recently as 2015 by two russian developers – Nikolay Storonsky and Vlad Yatsenko, the platform is now home to more than 4.5 million users.

Of this figure, approximately 1.6 million customers are situated in the UK, with the vast remainder located across continental Europe. If these figures weren’t impressive enough for a company that claims to be opening 7,000 new accounts every day, Revolut is also facilitating close to $3 billion in monthly transaction volumes.

Revolut Bank

In terms of what the Revolut app can do, this is very similar in nature to a conventional current account. For example, the app allows you to send and receive funds via the UK’s Faster Payment network, SEPA and even SWIFT. The app does of course come with a debit card too. Issued by either Visa or MasterCard (location dependent), this allows you to buy goods and services online, as well as withdraw cash at millions of ATM machines worldwide.

Moreover, the app is also well-known for its capacity to facilitate super-convenient currency exchanges – some of which can be done at industry-leading rates.

Irrespective of what feature you are using, one of the overarching benefits of using a challenger banking app like Revolut is the real-time updates you are accustomed too. For example, the moment you use your debit card, you’ll receive an instant notification to your phone. This in itself makes it easy to keep track of your finances.

It is important to note that the Revolut platform goes far and beyond the aforementioned banking services. The app also offers a range of additional features such as the buying and selling of cryptocurrencies, travel insurance, and airport lounge passess.

So now that you have a brief idea as to what the app actually is, in the next section of our review we are going to explore the current accounts that Revolut offers.

Revolut Current Accounts

The hallmark service provided by Revolut is its current account offering. When challenger banking platforms first came to fruition, one of the key flaws was that users were not given a unique account.

Instead, the platform would give each and every user the same current account details. This made it virtually impossible for early adopters to use challenger banks as a direct replacement for traditional high street institutions, not least because account features were severely limited.

On the contrary, a Revolut current account operates in the very same way as any other current account you’ve previously had. First and foremost, all Revolut users will be given a unique current account in both the UK and Europe. The former will come with a unique UK account number and sort code, while the latter will come with a unique IBAN number and BIC/SWIFT code.

As such, not only do you have the capacity to send and receive funds domestically, but you also have full access to cross-border transfers. The ease at which you can send cash internationally is a particular benefit, as traditionally this requires an in-branch visit.

Manage Your Money

In terms of executing transactions, it is as simple as logging into your Revolut mobile app, entering the account details of the receiver, choosing how much you want to send, and that’s it – done.

While we are on the subject of replacing your traditional current account with the Revolut app, it is important to note that the platform does not currently offer any conventional credit products. This includes the likes of overdrafts, loans, and mortgages. However, and as we will discuss later, Revolut recently announced that its European Banking License application had been approved. While officially this is still in the pipeline, the acquisition of a license could potentially pave the way for credit-based products.

Nevertheless, as is expected with any current account service, Revolut also comes with a fully-fledged debit card. We’ll cover this in more detail in the next section.

Revolut Debit Card

When you first open an account with Revolut, you will automatically be given a debit card. If you’re from the UK, this is typically issued by Visa, while European account holders will be offered a MasterCard. Either way, the Revolut debit card operates much in the same way as a traditional bank-issued card.

Firstly, you can use the card at any ATM machine that accepts Visa or MasterCard – both domestically and abroad. You can of course also use the card online to buy goods and services, as well as in-store or over the telephone.

When you do execute a transaction – you can view this within your Revolut app instantly. Moreover, if you use your debit card online with a merchant you haven’t purchased anything from before, then it’s likely that Revolut will ask you to confirm the transaction from your phone. All you need to do is enter the app and verify that you made the transaction.

Cryptocurrency on Revolut

Revolut also offers it’s users a way to buy and hold some cryptocurrencies, which include –  Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple.

Their fees for cryptocurrency are reasonable and they are transparent so you can see the exchange rates within the app before you make a purchase. You can also use the Revolut application to follow the rates of cryptocurrencies in real-time via the converter section of the app.

Cryptocurrency support comes standard with all Revolut accounts which makes for an easy way for people to get started buying and selling crypto.

Revolut Cryptocurrency

The app provide a portfolio tracker so you can view the performance of your cryptos over time and also lets you set alarms with push notifications should you wish to buy or sell at certain price points.

You can also spend your cryptocurrency using your card as you would any of the other foreign currencies within the app.

The only downside is that Revolut is a custodial solution, so you can’t withdraw your cryptos to other wallets or exchanges, so for serious users we wouldn’t recommend Revolut, but for someone wanting to dip their toes in the water it can make a suitable start.

Currencies and Foreign Exchange

On top of its everyday checking account and debit card service, Revolut is also an excellent option if you have a requirement to deal with multiple currencies. In fact, the application claims to support 120 different currencies. This is highly beneficial if you need to send and receive funds in a currency different from your own, or if you are abroad and need to use your debit card.

For example, if you were to use your Revolut debit card in the US, and thus, you transacted in US dollars, then the Revolut app would make an instant exchange at the point of the transaction. As such, you will make considerable savings in comparison to using a debit card issued by a traditional high street bank.

Travel Money

In terms of the fundamentals, the foreign exchange fees employed by Revolut are at first glance quite complex, so we’ve broken down the key points below.

  • During Market Hours: All supported currencies – apart from TBH and UAH, can be exchanged within the app at no cost during standard foreign exchange market hours.
  • Outside of Market Hours: Outside of foreign exchange market hours, major currencies such as GBP, USD, EUR, AUD, CAD, etc, come with an exchange fee of 0.5%. While TBH and UAH come with an out-of-hour fee of 2%, all other supported currencies come with a 1% fee.
  • High-Frequency Users: If you are on a fee-free Revolut account, and you have exchanged more than £5,000 in a single calendar month, then you will be defined as a high-frequency customer. This means that you will pay a higher foreign exchange fee than listed above.
    Depending on whether you make the exchange during or outside of market hours, and the specific currencies you are exchanging, this will vary from 0.5% up to a maximum of 2.5%.

Ultimately, while the above fees can vary quite considerably, in the vast majority of cases you will pay substantially less with Revolut in comparison to a traditional financial institution.

So now that we’ve covered foreign currencies, in the next section we are going to explore Revout’s pricing structure in more detail.

How Much Does Revolut Cost?

First and foremost, the vast majority of users utilize the standard Revolut account that comes at no cost. However, Revolut also offers a number of paid-for accounts that come with a monthly subscription. We’ll explore that shortly. However, in the meantime let’s see what costs you will become accustomed to as a standard user.

In terms of obtaining the app, this can be downloaded free of charge via the Apple Store or Google Play. There is no cost to open an account, and you won’t need to pay a monthly subscription if you decide to remain a standard user. However, you will need to pay a £4.99 debit card delivery fee at the point of opening an account. Moreover, you will also need to deposit £10 in to your account for verification purposes.

As such, your best bet is to deposit £10 or more via a bank transfer or with your debit card, and then pay the fee from the deposited funds.

Fees for Sending and Receiving Money

If you make a UK-to-UK transfer, this will go through the Faster Payment network, and thus, most transfers will arrive in a matter of minutes.

This comes at no cost. If performing an EU-to-EU transfer via SEPA, then this is also free. While Revolut states that this can take a couple of business days to arrive, in most cases this arrives the next day. This can also be facilitated at no cost.

The only time that you will pay a fee to send or receive money is if you need to use the SWIFT network. This would, for example, cover a transaction from the UK to Australia, or Japan to the UK. In most cases, sending and receiving funds via SWIFT will cost $15, although this can vary depending on the other bank involved in the transaction.

Fees for Using Your Revolut Debit Card

When using your Revolut debit card to withdraw cash from an ATM, the first £200 will come at no cost. However, everything over this amount will come at a fee of 2%.

There is no cost to use your debit card online or in-store, as long as you are transacting in your local currency. If using the card abroad, you will need to revert to the fees listed above under the foreign exchange section.

It is also worth noting that should you lose your Revolut debit card – or you simply want to order another one, this comes at a cost of £5 per card. You will also need to pay a delivery fee.

Revolut Pricing Plans

On top of the free standard account, Revolut also offers two additional pricing plans – Premium and Metal. While Revolut also offers a business account, this falls outside of its main current account offering.

Revolut Pricing

Revolut Premium – £6.99 per month

If your banking requirements are slightly more elaborate than what the free account offers, then you might want to consider the Revolut Premium account. At a cost of £6.99 per month, the Premium account offers a number of key benefits.

Here’s the main jist:

  • No ATM fees upto the first £400 per month (usually £200)
  • Always remain on the lowest capped foreign exchange pricing plan
  • Travel insurance, which includes delayed flight and baggage claims
  • Priority customer service
  • Ability to buy and sell cryptocurrencies (CFDs)
  • Exclusive card design
  • One-time virtual cards
  • Airport lounge pass access

Revolut Metal – £12.99 per month

The highest tier available at Revolut is the Metal account, which comes at a monthly cost of £12.99. All of the features provided in the Metal account are the same as the Premium, apart from the following:

  • No ATM fees upto the first £600 per month
  • Cashback on all debit card payments (0.1% in Europe, 1% outside of Europe)
  • Revolut Concierge

Regarding the final point, the Revolut Concierge is an innovative AI-driven personal assistant. For example, if you’re looking for the best priced flight tickets to New York next month, or you want to find a boutique hotel recommendation in the city you’re about to visit, the Concierge will automatically find this information for you.

However, the general consensus is that the feature offers little value. For example, one user reported that the Concierge found flight tickets for €1,200, although through a quick independent search, the user found the same flights for €500!

Who is Eligible to Open a Revolut Account?

The only eligibility requirements that you need to consider is your location. At the time of writing, Revolut supports legal residents from the UK, European Economic Area (EEA), Switzerland, and Australia. If you’re from a country other than the jurisdictions listed below, you won’t be able to open an account with Revolut.

Australia, Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom

Opening an Account – What do I Need?

If you’re from an eligible country, opening an account with Revolut is super easy. Follow the step-by-step instructions to find out what you need to do.

  • Step 1: Download and install the app To get started, visit the site and enter your phone number to get an invite to the app. If you don’t have an Android or iOS device, your phone won’t support the app.
  • Step 2: Enter your personal information As is standard with any financial-based application, you will need to enter your personal details. This will of course cover your full name, address, residency status, date of birth, mobile telephone number, and email address. Regarding your phone number, make sure this is correct as you might need it to verify transactions or regain account access when you forget your login credentials.
  • Step 3: Choose a PIN number Every time you want to access your Revolut app you will need to enter your PIN number. Choose something that others won’t guess, but at the same time, something you won’t forget!
  • Step 4: Verify your identity Unlike the cumbersome process demanded by traditional high street banks, verifying your identity with Revolut takes seconds. All you need to do is take a photo of your government issued ID (passport or driver’s license) with your smartphone camera. Make sure the picture is crystal-clear, otherwise the automated system won’t be able to validate it.After your ID is accepted, you then need to take a selfie. This is to ensure that you are the rightful owner of the ID you previously uploaded.
  • Step 5: Deposit funds You will need to deposit an amount of at least £10 into your Revolut account. You can do this via a bank transfer or debit card.
  • Step 6: Select your plan Revolut gives you the option of choosing the standard free plan, or the paid-for Premium and Metal plans.
  • Step 7: Pay for your card delivery fee To complete the account opening process, confirm the address that you would like your card delivered to, pay the £4.99 delivery fee (taken from the £10 you just deposited), and that’s it – you now have a fully-fledged Revolut current account!

Is Revolut Safe?

It is important to recognize that challenger banks like Revolut are still in their absolute infancy. While the Millennial generation will have no issues making the transition from a traditional bank to a mobile-based banking app, others might not be as comfortable. As such, it is crucial to explore just how safe your money really is with Revolut.

First and foremost, although Revolut has its headquarters in the UK, the company is not legally a recognized bank and thus – the money it stores is not protected by the UK’s Financial Services Compensation Scheme (FSCS). Ordinarily, UK customers have their bank deposits protected upto the first £85,000 in the event that the institution collapses. However, in the case of Revolut, these safeguards do not exist.

On the other hand – and as we noted earlier, Revolut announced in late 2018 that it had successfully been approved for a European Banking License. This would mean that Revolut deposits of up to €100,000 are subsequently protected by the European Deposit Guarantee Scheme (EDGS). However, not only has the license yet to be officially granted, but it was recently reported that the approval itself is in jeopardy.

Ultimately, although the FSCS and EDGS does not apply at the time of writing, Revolut is still authorized by the UK’s Financial Conduct Authority (FCA), and client funds are held in segregated bank accounts located in the UK.

Revolut Customer Service

One of the overarching selling points made by challenger banks like Revolut is that the customer experience comes first. In the traditional banking scene, this is one of the biggest pain-points noted by retail customers, with long telephone delays and outsourced call centres a common practice.

In the case of Revolut, the customer service department is due a major overhaul. The key problem is that Revolut has effectively grown to quickly. With the platform onboarding more than 7,000 new customers each and every day, the company just does not have the capacity to provide sufficient levels of customer support.

The main avenue to contact somebody from Revolut is via a live chat facility that can only be accessed via the mobile app. However, complaints in the public domain are plentiful, with customers claiming that waiting times are now in the days.

Those currently holding a Premium or Metal paid-for account are apparently offered priority support, however, complaints of long response times are just as common.

Ultimately, while Revolut have noted that they are in the process of increasing their customer support capabilities, this needs to be sooner rather than later.

Revolut Review: The Bottom Line?

In summary, it is clear to see why challenger banks like Revolut have taken the UK and European banking scene by storm.

Not only can customers open an account in minutes from the comfort of their mobile phone, but everyday banking services can be accessed at the click of a button.

Whether it’s sending and receiving funds – domestically and internationally, withdrawing cash from an ATM and purchasing goods online, or exchanging currencies instantly – Revolut ticks the vast majority of boxes. This is why the app now has surplus of 4.5 million customers.

On the other hand, the app does need to make some serious considerations regarding its customer service flaws. With key market rivals N26 and Monzo well-regarded for their super-fast and attentive customer support, Revolut needs to address this quickly.

Furthermore, it remains to be seen what is happening with the so-called European Banking License. If and when the license does come through, not only will this guarantee client funds up to the first €100,000 from the threat of a collapse, but it will also enable Revolut to offer credit-based products like loans and overdrafts.

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The post Revolut Review: Digital Banking App & Card with Crypto Support appeared first on Blockonomi.

What is QAN? Taking Blockchain Solutions to the Next Level

With legacy blockchain protocols such as Bitcoin still struggling to alleviate its flaws surrounding speed, scalability, and energy-efficient transaction validation – a gap in the market potentially exists. Estonia-based start-up QAN claims to have solved the aforementioned issues via its QANplatform framework.

In a nutshell, its innovative Proof of Randomness (PoR) consensus mechanism is able to achieve high transaction throughputs in an energy-efficient manner, while at the same time supporting multiple developer languages. Moreover, the QANplatform has been built to counter the threats of advanced computing capacities of the future – notably Quantum computing attacks.

Qan

If you’re interested to find out more about QAN and how the platform aims to differentiate itself from existing blockchain protocols, be sure to read our comprehensive review.

What is QAN?

Launched in 2018 and backed by the Centrum Circle Group, QAN is a blockchain framework that aims to solve the ever-present issues found within existing projects such as Bitcoin, Ethereum, and Litecoin. This centers on issues concerning slow transactions, super low scalability capacities, a strong reliance on high energy usage to confirm transactions, and no safeguards in place to counter the potential threats of Quantum computing.

With that being said, the team behind the QANplatform has built a revolutionary consensus mechanism to take blockchain technology to the very next level. Known as Proof of Randomness (PoR) – the mechanism improves on the capabilities of legacy blockchain systems and thus, solves a lot of the problems mentioned above.

Without getting too technical, the PoR mechanism bases its principles on Algorand’s Algorithm, albeit, with the capacity to take scalability to the next level. As the mechanism does not rely on stakeholders needing to have synchronized clocks, the protocol is able to operate in an energy-efficient manner, without compromising on speed or security. In order to remain efficient at all times, QAN is able to facilitate the process of voting and block propagation concurrently.

QAN Features

We’ve broken the benefits that this yields in more detail below.

Scalability

It is no secret that Bitcoin is still being held back by its ability to handle large transaction volumes. In fact, the system still averages just 7 transactions per second (T/ps). On the contrary, the QANplatform has thus far achieved a throughput of 1,600 signed T/ps. Although these figures are primarily based on in-house testing, this at the very least presents promising results.

Energy Efficient

As we noted earlier, legacy blockchains such as Bitcoin are required to consume significant amounts of energy to keep the underlying eco-system safe and secure. This is effectively driven by the competitive nature of the Proof of Work block reward system that Bitcoin utilizes.

This is in stark contrast to the permissioned ledger system that the QANplatform is based on, not least because it has a strong commitment to fairer wealth distribution. This is further amplified by the PoR consensus mechanism, as the validation process ensures randomness beyond doubt.

Multi-Language Support

One of the biggest pain-points for seasoned developers is that they are often required to learn new programming languages to engage with the blockchain protocol. This is especially true with Ethereum, insofar that it requires developers to learn its native Solidity language in order to create smart contracts.

With that being said, the team at QAN are committed to making their blockchain platform more inclusive, by allowing developers to engage with the protocol via widely used languages that they already know and understand.

Fixed Transaction Fees

Whether it’s regarding a conventional token transfer or a smart contract deployment – transaction fees on the QANplatform are fixed. This ensures that QAN stakeholders, whom are mainly enterprises, are accustomed to a reliable and consistent pricing model.

On the contrary, existing blockchain infrastructures often utilize a variable transaction fee model, insofar that the underlying costs increase as the network experiences higher demand.

Quantum Resistant

One of the most promising features of the QANplatform is that it has been built from the group-up, subsequently allowing the network to counter the threats of Quantum attacks.

For those unaware, various commentators within the blockchain industry argue that once the capabilities of Quantum Computing are realized, they could have the potential to override consensus mechanisms such as Proof of Work. However, by ensuring that the network is Quantum Resistant, the team at QAN has built a blockchain system for the future.

QAN does so by utilizing Lattice-based cryptography. Briefly, it is resilient to quantum attacks thanks to how the digital signatures are built. Lattice cryptography has been widely recognized and is based on the work of 13 mathematicians across the recent 20 years.

Keeping the QANPlatform Secure

In terms of keeping the QAN ecosystem safe and secure, the decentralized platform utilizes two key stakeholders. Notably, this includes the node operators themselves, as well as randomly selected block validators. As both stakeholders are financially motivated, they are therefore motivated to keep the network free from the threats of malpractice.

Moreover, each and every stakeholder that wishes to participate as a block validator must pay a license fee. All license fees are then transferred to a decentralized deposit pool that has been installed to eliminate the threats of fraud. As such, there would be no motivation for block validators to engage in malpractice, not least because they would lose their license fee.

When it comes to revenue generation, the QANplatform achieves this from three key avenues. This includes the transaction fees paid by those using a smart contract; the code development costs paid by specific smart contract developers; and development costs paid by generic smart contract developers.

These fees then contribute to the stakeholders that are tasked with keeping the blockchain secure, subsequently allowing the QANplatform to operate in a self-sufficient manner.

QARK Token

The QANplatform has also created its own native cryptocurrency. Known as the QARK Token, the token will initially be launched as an ERC-20 token for the purpose of its fundraising campaign. This will be facilitated as an Initial Exchange Offering via the BitBay Exchange in Q4 2019.

In total, there will be 333,333,000 QARK Tokens in circulation, with two-thirds of this amount for sale on BitBay – across both a public and private sale.

Once the QARK Token makes the transition from an ERC-20 token over to that of a proprietary QANplatform token, it will be used to fuel the entire QAN ecosystem. This includes the block validation reward system, whereby stakeholders will be paid in QARK Tokens. Moreover, the QARK Token is also the currency of choice when it comes to paying license fees, which is a requirement to become a block validator.

Timeline Moving Foward?

The QAN project is still in its infancy, meaning that it still has a long way to go in achieving its long-term objectives. Nevertheless, the team will be engaging in their BitBay IEO soon, and the QANplatform’s initial demo launch is imminent.

In terms of the fully-fledged MainNet launch, this has been planned for Q2 2020. During the same quarter, the team at QAN is also planning to reach its target of netting 97,000 T/ps via its private chain.

Theoretically, at its currently QAN chain lab testing results of 1,600 T/ps, this carries the long-term target of achieving just over 155,000 T/ps. If this target can be realized, then this would be sufficient to facilitate the needs of virtually any industry sector. However, this is yet to be seen.

Conclusion

In summary, although the QANplatform is still in its very early days, there is much to like about the team’s ambitions. If the platform is able to realize its target of facilitating extreme scalability demands in an energy-efficient and secure manner, the project is likely to do very well.

Moreover, through its Proof of Randomness consensus mechanism, stakeholders are financially incentivized to keep the blockchain infrastructure free from the threats of malpractice. When you factor in the platform’s ability to counter the future abilities of Quantum Computing, QAN ensures that the underlying ecosystem is fully protected both in the short and long terms.

The post What is QAN? Taking Blockchain Solutions to the Next Level appeared first on Blockonomi.

Kryll Review: Automated Cryptocurrency Trading Bot Platform

Although the cryptocurrency markets have been in a state of stagnation since the turn of 2019, daily trading volumes are as strong as ever. For example, at the time of writing in April 2019, 24-hour trading volumes are averaging the $31 billion mark, with Bitcoin amounting to around 30% of this figure. These volumes illustrate that although we are still in a prolonged bear market, significant trading opportunities are still highly present.

One such organization that are looking to bring these trading opportunities to everyday consumers is that of Kryll. The project has launched an online platform that allows investors of all sizes to create automated trading strategies in a simple way.

In order to ascertain how notable the technology is, we decided to explore the project’s potentialities ourselves. Within our review we will discuss what Kryll actually is, how the platform works, and essentially, whether it fits in with your goals as a cryptocurrency day trader.

Kryll Review

Visit Kryll

What is Kryll?

In its most basic form, Kryll is an online platform that allows users to design and create their own automated cryptocurrency trading strategies. For those unaware, automated trading refers to trading activities that are executed by a pre-programmed script. As such, there is no requirement to choose trades yourself, nor do you need to actually execute buys and sells, as this is all performed in an autonomous manner.

If an investor is able to obtain such an automated trading protocol, it carries a number of key benefits. First and foremost, as automated trading does not require any micro-management, traders can simply sit back and let their strategies do their thing.

Strategy

Moreover, automated trading strategies do not suffer from fatigue, which essentially opens up the doors for 24/7 trading. Furthermore, and perhaps most importantly, if an investor is able to design a strategy that performs well on a consistent basis, they have the opportunity to make ongoing profits in a passive manner.

Although we will explore this in more detail further down, Kryll allows both beginners and more advanced traders to create custom trading strategies via a user-friendly drag and drop style platform. These blocks consist of key logistical characteristics such as market signals, as well as variables that include market volume and technical analysis indicators.

The easiest way to get your head around the model is to think about a Microsoft ‘if/when’ sum. Effectively, the ‘if’ is the market indicator such as trading volume, and the ‘when’ could be volumes that exceed $10 billion in a 24-hour period, for example.

The notable thing about the Kryll project is that users can integrate their automated strategies into major exchanges such as Binance and Bittrex, with more integrations in the pipeline. Even better, you can test-out your automated strategies in demo mode, subsequently allowing you to make tweaks before going live.

In terms of the the team themselves, Kryll is led by CEO Luca Benevolo and CTO Philippe Longere. Supporting the key management team are a plethora of expects from within the fields of software development, trading, law, machine learning and economic sciences.

So now that we’ve explored what Kryll is aiming to do, in the next part of our guide we are going to take a closer look at how the block design system works.

Kryll Dashboard

The Kryll Dashboard

Creating a Strategy: How Do Blocks Work?

Although the Kryll platform has been designed to appeal to traders of all experience levels, the block system can appear somewhat confusing at first glance: this is what you use to create your custom trading strategies and is actually very well designed once you get the hang of it.

As such, we’ll discuss how this works in more detail so you have a better understanding of how the strategy building process works.

Create a Strategy

Creating a New Strategy in Kryll

Wallet

To kick things off, the first block that you are required to create is your wallet. This represents the wallet portfolio for the specific strategy you are looking to create. This particular block is mandatory.

Price up and Price down

The purpose of the price up block is to trigger a movement when the market price of a specific cryptocurrency increases or decreases. Known as a ‘conditional’ block, you essentially tell your automated strategy to perform a certain action when a predefined condition is met. Here are some examples of what you can do.

  • Market evolution: You can place an automated trade when a specific price action occurs on the exchange you have integrated your strategy with. For example, you can instruct your strategy to purchase a cryptocurrency if the price drops by 10%, and then goes up by 5%.
  • Last order price: You can instruct your strategy to trigger when the price goes up or down by a certain percentage, in relation to your last trade. For example, if you purchased a cryptocurrency at $100, and the block specifies a movement when the price increases by 5%, then your strategy will trigger when the asset hits $105.
  • Average buy order: This particular block is useful is you are looking to engage in a controlled profit strategy. Essentially, the strategy is triggered based on the average purchase price of previous orders of the same cryptocurrency. For example, if you purchase a token at $80, $110 and $170, you could execute a new trade when the the price hits $120.

Volume

The purpose of the volume blockchain is to trigger a new automated trade when certain conditions related to trading volumes have been met.

  • Starting from last block: This is useful if you want to automatically execute a trade when volume goes up or down in comparison to the previous block. For example, if your previous block had a market volume of $1 million, and you pre-set the trigger at a 25% increase, then the trade would execute when volumes reach $1.25 million.
  • Rolling: This allows you to execute a trade based on specific volume conditions, such as ‘volume vs time’. In other words, you could for example pre-set the block so that a trade is placed if volume decreases by 50% in a 24-hour period.

Advanced possibilities

Other conditional blocks also exist, however the above examples should give you a better understanding as to how you lay the foundations for an automated strategy.

Next, you’ll then need to expand your strategy by increasing additional blocks. This will include an instruction linked to whether you want the trigger to buy or sell, as well as how much in terms of quantities. Moreover, you can also add in an ‘Or’ or ‘And’ block.

One again, this is very similar to the if/when function in Microsoft Excel, insofar that you can create additional layers to your trading strategy. In fact, the more layers you have within your strategy, the more advanced its trading capabilities will be.

Furthermore, for those with more advanced knowledge of trading, you’ll be able to insert blocks linked to technical trading indicators. This could include key trends such as the Moving Average Convergence Divergence (MACD) or Bollinger indicators.

So now that we’ve covered the basics of blocks, in the next part of our Kryll review we are going to look at the marketplace feature.

Kryll Marketplace

If you like the sound of automated cryptocurrency trading, but you’re not quite ready to take the plunge yourself, it might be worth exploring the Kryll Marketplace. In a nutshell, the marketplace contains ready-to-use trading strategies designed and built by other Kryll users.

Each strategy is completely transparent, meaning that results can be verified independently, and those using the strategy can leave public feedback and ratings. Moreover, you can even integrate your chosen strategy in to your demo platform, meaning you can test out the results for yourself.

While some automated strategies are free, others come at a cost. However, and as we’ll cover in more detail in the section, when you utilize a chosen strategy (whether it’s yours or rented from another user), you’ll need to pay fees to the Kryll platform.

Kryll Marketplace

The Kryll Marketplace

Kryll Token & Fees

The Kryll platform operates an online eco-system that aims to benefit all who use it. In order to fuel this ecosystem, the Kryll platform utilizes its own native ERC-20 token – which it calls the KRL token.

The KRL token has many functions within the Kryll platform. First and foremost, if you decide to use a Kryll automated strategy in live mode with one of the platform’s integrated exchanges, then you’ll pay a variable fee.

At the time of writing this amount to 0.0333% per day, based on the total amount of funds you have invested in your respective strategy.

For example, let’s say that you are using one of your strategies on Binance, which it trades the cryptocurrency equivalent of $1,000 in a 24-hour period. As such, you would pay a total of $1,000 x 0.0333%, amounting to $0.30.

Buy Kryll

These fees are highly reasonable, and would have very little effect on any profits or losses you subsequently make from the strategy.

We should also note that there are different fees depending on the amount of KRL tokens you currently have held in your account. If you hold no KRL tokens, then you’ll be accustomed to a daily fee of $0.06 for using the livetest feature, and you’ll not get any discount from your daily trading fees.

At the upper end of the pricing plan, a holding balance of 200,000 KRL tokens or more will get you a trading fee discount of 95%, plus reduced daily livetest costs of $0.01. Moreover, this plan gives you a total of 60 trading slots, as opposed to just 10 that you get with the most basic plan.

Furthermore, you might need to need to pay fees in the form of KRL tokens if you decide to rent a trading strategy that has been published by another user. This amounts to provider fees, and varies on a strategy-by-strategy basis. Some providers are also free, which incidentally does include some of the best performing strategies on the platform.

Which Exchanges can I use my Kryll Strategies on?

If you’ve found a strategy that you like the look of, or you’re ready to put your own trading strategy in to the wild, then there are a number of leading cryptocurrency exchanges that you can integrate it with.

At time time of writing, this includes:

Although this covers some of the largest exchange platforms in terms of trading volumes, the team at Kryll are looking to make more and more exchanges compatible.

In order to integrate your respective exchange account with the Kryll platform, you’ll need to go and obtain your unique API key. This effectively gives Kryll the authority to perform automated trades on your behalf.

Although your strategy will be operating in an autonomous nature, the Kryll platform does not have any access to your exchange login credentials, subsequently ensuring that your data remains secure.

The API process will differ depending on the exchange you are using, however in most cases you’ll need to get this from within your account portal. Once you do have it, you then simply enter it in to your Kryll account.

Similar Platforms

We have been covering this new wave of trading bots and platforms on Blockonomi for a while now, take a look at our guide to trading bots here for some more options. The following platforms are closest to the Kryll offering:

Kryll Review – The Verdict?

In summary, the team at Kryll have created a very unique product that essentially opens the cryptocurrency day trading doors to those that have very little experience of creating strategies, or those that simply do not have the time to day trade themselves.

Whether your Kryll platform strategies have any success is ultimately dependent on the specific strategy itself. If you are able to build a notable strategy, or you instead rent one from the Kryll Marketplace, then you have the potential to be sat in prime position on a 24-hour basis.

As such, if the underlying strategy finds a suitable trading opportunity, it can execute its strategy without you needing to be involved.

Finally, our review also found that the fee structure offered by Kryll is highly reasonable. The only caveat is that you will need to ensure that you have KRL tokens within your account at all times, to ensure that your strategies are able to trade on a 24/7 basis.

Visit Kryll

The post Kryll Review: Automated Cryptocurrency Trading Bot Platform appeared first on Blockonomi.

Japanese Financial Regulators Receive a Stack of Exchange License Applications

Japan – the first nation that regulated Bitcoin and other cryptocurrencies in the very same manner as its domestic financial services industry, has been looking to step up consumer protections for some time now. One of the nation’s key targets in this respect is to further bolster its anti-money laundering (AML) and know-your-customer (KYC) controls.

With this being said, the Japanese Financial Services Authority (FSA) – the organization responsible for regulating the Japanese finance industry, dictate that cryptocurrency exchanges operating in the country must be in receipt of a full license.

Since the declaration, and according to CoinTelegraph, the FSA has since received more than 190 individual applications, subsequently resulting in an every-growing administrative backlog.

Japan Cryptocurrency

Japan Recognizing That it Must get Cryptocurrency Regulation Right

Japan is often regarded as one of the most crypto-friendly nations in the world. Not only are cryptocurrencies legally regarded in the same light as its domestic currency – the Yen, but the jurisdiction is also responsible for the largest volume of daily Bitcoin trading. Furthermore, it is now possible to physically spend Bitcoin in more than 200,000 real-world stores, with the number growing on a month-by-month basis.

However, at the other end of the spectrum, Japan has also been home to some of the largest cryptocurrency and blockchain asset scandals of all time. First and foremost, it was Japan that provided a home to the infamous M.T. Gox exchange, which at its height, was responsible for more than 70% of all Bitcoin transactional activity.

And then back in January 2018, Japanese-based cryptocurrency exchange Coincheck was accustomed to a wide-spread hack, which resulted in more than $532 million worth of NEM tokens being stolen. Although the exchange has vowed to pay each and every investor back, it once again puts a dim light on the credentials of crypto-related organizations operating in the country.

History of The Coincheck Hack

Read: The History of The Coincheck Hack: One of The Largest Heists Ever

Other examples are beyond the remit of this article, however it is important to note that they do exist. Therefore, it comes as no surprise that the FSA are looking to stamp-down, or at least significantly reduce, the amount of cryptocurrency-related scandals arising in the country.

Japanese Authorities Demand Reporting of Suspicious Activity

One of the main requirements that Japanese authorities are looking for in a cryptocurrency exchange license application is that the platform in question has installed a stringent AML and KYC program to ensure that financial crime is kept at bay. This includes an expectation for exchanges to submit a suspicious activity report (SAR) when the platform has reasonable grounds to believe that money laundering offences have been attempted by a user.

SARs are an AML tool used by the vast majority of global states, and they allow financial intelligence units to further investigate potential breaches of domestic regulations linked to money laundering and terrorist financing. In the 9 months between January and October 2018, the FSA received more than 5,944 reports linked to potential illicit usage of cryptocurrencies.

Reports of Suspicious Crypto-Related Activity on the Rise in Japan

This number is even more significant when one compares it to the 669 received in 2017. However, much like in the financial services industry, it is important to note that organizations often submit ‘Defensive SARs’ with the aim of protecting themselves in the event that money laundering abuse has in fact taken place. Rather than risk prosecution for non-reporting further down the line, it is believed that organizations submit a SAR just in case.

This can at times be counter-intuitive, insofar that it creates a significant back-log for financial intelligence units, as each and every SAR must be individually investigated, subsequently putting a strain on resources.

Ultimately, much like in the case of the submission of SARs, it appears that the Japanese FSA are also becoming overwhelmed with the number of outstanding exchange license applications.

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Coinbase Moves $5Billion Worth of Crypto to Kick-Start its new Digital Storage System

With major cryptocurrency exchange Coinbase now responsible for more than 13 million user accounts and their subsequent funds that runs in to the billions of dollars, it comes as no surprise that the exchange have further increased their security systems. According to the U.S. based platform, the company recently moved $5 billion worth of cryptocurrencies in to its upgraded storage system.

The fund movement consisted of 5% of all Coinbase Bitcoin holdings, alongside 8% of Ethereum and a huge 25% of Litecoin. As per Phillip Martin, the current head of security at Coinbase, the fund movement took in the region of four months to plan.

Coinbase Token Expansion Leads to Increased Security

One of the key reasons for the lengthy pre-planned security upgrade was to ensure the exchange are fully prepared for its ongoing token expansion, which has seen a range of new cryptocurrencies added to Coinbase over the past few months. Initially, the Coinbase business model focused on a select few cryptocurrencies – notably Bitcoin, Ethereum, Bitcoin Cash and Litecoin. However, the exchange has since added Ethereum Classic, Basic Attention Token and Zcash, among others.

However, the token expansion does not appear to be slowing down any time soon. For example, just yesterday the exchange announced that it was adding a further four tokens, with the selected projects being Golem, DAI, Maker and Zilliqa.

New Coinbase Storage Facility Explained

In terms of the underlying fundamentals, the newly updated Coinbase storage system originally started in October, where its technical team utilized a key generation process. In a nutshell, the process involved printing out a range of keys, and through the support of scan-friendly QR codes, these keys were subsequently split.

The cryptographic process, otherwise referred to as Shamir’s Secret Sharing, is a mechanism employed to keep private data safe and secure. Once the keys have been split, they are then distributed across multiple locations – requiring several Coinbase staff members to collectively unlock them. Although this process sounds very similar to a multi-sig wallet, the key difference is that it is compatible with cryptocurrencies that would otherwise not be suitable.

Is Coinbase Safe?

Read: Is Coinbase Safe? An In-Depth Look at their Security Measures

Ultimately, taking in to account the exchange’s appetite to attract institutional investment on top of its already significant retail customer base, alongside the fact that they have an excellent relationship with U.S. regulators, Coinbase will hope that their newly launched air-tight storage system will convince users that they are the third party platform of choice.

Coinbase Continue to put the Security of Customer Funds at the top of Their List

Whilst the risks of storing large quantities of cryptocurrency holdings in a third party online exchange remain valid, it must also be noted that Coinbase already have a significant amount of safeguards in place to protect customer funds. First and foremost, the platform claims to store 98% or more of customer funds in cold storage, with the remainder kept online to facilitate day-to-day liquidity.

The platform also offers a ‘Vault’ storage facility, which if utilized by the customer, puts an automatic withdrawal time-lock of 48 hours. This means that should the users’ account become compromised, there is a good chance that they would be made aware in the form of a notification, once the withdrawal request was made.

Furthermore, Coinbase have also installed an FDIC insurance program for those holding funds in a U.S. dollar wallet, up to a whopping $250,000. Even in the event that the exchange ceased to exist, customers would be insured up to this figure.

Ultimately, the numbers speak for themselves, insofar that Coinbase are yet to experience a significant hack – a feat they will no doubt be keen to retain.

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Bitcoin Generator Scam: Fools Victims in to Parting With 0.8 BTC

Although Bitcoin and other cryptocurrency scams are nothing new, it remains to be seen how scam artists are still able to successfully extort funds from unsuspecting victims in the most obvious of manners. In the latest scheme to be doing the rounds, a newly created ‘Bitcoin Generator’ has thus far managed to scam people out of the Bitcoin equivalent of $2,700, or 0.8 BTC.

The Scam, which is located at the website domain ‘bitcoin-generator-2018.bid’, was recently tested by cryptocurrency news platform CCN, to ensure that their suspicions were factual. The platform explains that those behind the scam claim that they have created a protocol that allows their system to effectively hack the Bitcoin blockchain. In doing so, they are able to obtain quantities of free Bitcoin, which they can then forward on to the user.

Bitcoin Scam

If it’s too Good to be True, Then it Probably is

First and foremost, it must be noted that in order to access the aforementioned illicit platform, users must approach search engines with specific terms such as ‘Bitcoin Generator’ or ‘Free Bitcoin’. In this sense, it could be argued that the mindset of the user is to obtain Bitcoin(s) without having to pay for them, or receive significantly more than they outlay.

Once the ‘bitcoin-generator-2018.bid’ domain is accessed, the user is then asked to enter the personal Bitcoin address that they want the generated coins to be sent to. Next, the user is then afforded the fictitious luxury to enter the amount of BTC they want to receive.

Bitcoin Generator Scam

Fake Java Script Generation all Part of the Ploy

Once the user clicks on the confirm button, a well-designed Java Script appears on screen, with the platform advising the user that the technology is currently engaging with the Bitcoin network, in order to generate their free coins.

After a few seconds of the fake generation process, a new box appears, telling the user that the “Exploitation was successful and the coins will be sent to you shortly“. However, as would be expected from such a scam, prior to funds being forwarded on to the previously supplied Bitcoin address, the user is asked to pay a ‘Transaction Fee’.

In terms of justification, the fake Bitcoin generator explains that in order for new blocks to be generated on to the blockchain, a small fee must be paid to miners in return for their efforts. As a result, once the small fee is paid to the provided Bitcoin address, the platform states that the generated Bitcoin will then be forwarded to the victim.

As per the covert exercise employed by the team at CCN, for a request of 0.1 BTC (which is the minimum that the fake generator permits), the stated fee is 0.002 BTC. Therefore, should an unsuspecting user fall victim to this particular example, the scam artist would have walked away with 0.002 BTC.

Well Known Bitcoin Faucet Might be Behind the Scam

Further research in to the scam, according to CCN, indicates that popular Bitcoin Faucet provider ‘Moon Bit’ may have had some involvement. The reason for this is that one of the requested Bitcoin addresses, which the scam provides to the user for the fictitious transaction fee, is associated with Moon Bit.

In total, the associated Bitcoin address, 15nLNJc9rfRhqgQMU6F9y85t3hSMG6AYwa, has managed to receive just over 0.8 BTC in payments. Although such scams are nothing new, if anything, it does indicate that the underlying characteristics of the blockchain protocol offers an element of transparency, not least because reporters at CCN were able to effectively link the Bitcoin generator address to that of Moon Bit.

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Allianz Global Investors CEO: Cryptocurrencies Should be Made Illegal

The legitimacy and efficacy of the cryptocurrency and blockchain technology industry has been a hot topic of debate among governments and leading financial institutions in recent years. In spite of the growing global movement to invest in popular digital currencies such as Bitcoin and Ethereum, some major key players remain unconvinced and even hostile towards its official regulation.

According to a recent publication, Andreas Utterman, CEO of Allianz Global Investors, has stated that cryptocurrencies in their entirety should not be regulated. On the contrary, Utterman believes that the European Union should instead move to have the digital phenomenon outlawed across the region.

Allianz

He recently voiced his position to the head of the Financial Conduct Authority in Britain, stating

“Cryptocurrency should be outlawed. I am surprised that regulators haven’t put in more effort in the industry.”

For those unaware, Allianz Global Investors are a leading asset management organization that are responsible for 500 billion Euros in client funds. The company employs close to 3,000 staff members and have offices in over 20 jurisdictions.

The Current General Consensus

The general consensus at the moment appears to lean towards stringent regulation to oversee the application and usage of cryptocurrencies in the European marketplace. For example, the European Union explained in 2015 that “virtual currency is a digital representation of value, not issued by a central bank, credit institution or e-money institution, which, in some circumstances, can be used as an alternative to money”, subsequently illustrating that cryptocurrencies should be viewed as a form of currency.

Moreover, recent discussions on the upcoming European Union 5th Money Laundering Directive have made specific reference to regulating cryptocurrencies and blockchain technology.

At the recent G20 summit, this positon was reinforced by 20 of the largest economies who came to the consensus that cryptocurrencies will be regulated but not banned. It was stated that “Cryptocurrencies will be regulated for anti-money laundering and to counter funding terrorism in accordance with the FATF standards. We will also give consideration to other responses needed.”

Individuals like Utterman who believe that cryptocurrencies should be made illegal are largely concerned that it will be used for illegitimate business transactions and may allow for the perpetration of fraudulent activity.

Bitcoin Money Laundering

Read: Bitcoin and Money Laundering: Complete Guide to Worldwide Regulations

Interestingly, the nature of blockchain technology is such that individuals will still be able to transact regardless of whether their government decides to regulate the platform or not. The impressive security and transaction speed offered by cryptocurrencies means that demand for it is unlikely to fall anytime soon.

Other financial instructions do not follow the same sentiment

Utterman’s position on the legitimacy of cryptocurrencies might be viewed as compelling, being the head of a global hedge fund. Nevertheless, other major financial institutions do not follow the same sentiment. For example, in July 2018, it was reported that global hedge fund Northern Trust were looking to involve their private equity division into blockchain assets. The financial institution, who currently manage in excess of $950 billion worth of client funds, also mentioned that they are looking to facilitate institutional scale custodianship services.

In a further blow to Utterman’s viewpoints, the Securities and Exchange Commission, who regulate the U.S. financial markets, are currently in the process of reviewing an application for the world’s first ever Bitcoin exchange traded fund (ETF). If the U.S. based regulator approve the application, which has been fronted by the Chicago Board Options Exchange, will provide the cryptocurrency industry with a significant element of legitimacy. As a result, Utterman’s comments regarding an outright ban of the digital currency arena may become somewhat redundant.

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Binance Launches Industry Standard ‘Gold Label list of Crypto Projects

It comes as no surprise that leading cryptocurrency exchange Binance have yet again hit the blockchain headlines with the announcement of a new project, as 2018 has been an extremely busy year for the company. Not only did Binance move their headquarters to the European Island of Malta, but they are also believed to be in the process of launching the world’s first ‘Blockchain Bank’.

With the close of 2018 soon approaching, the exchange has decided to add one more project in to the mix before year-end. As recently published through the official medium channel of Binance, the platform have announced that they have just launched a list of what it deems ‘Gold Label’ cryptocurrency projects.

Binance Gold Label

The concept behind the launch is to provide the cryptocurrency industry with a fully vetted list of credible projects, with the ultimate aim of separating the wheat from the chaff. The initial Gold Label list contains 30 cryptocurrency coins and tokens, ranging quite significantly in size, market capitalization and reputation.

It remains to be seen what effect the Binance Gold Label listing will have on the long-term pricing viability of the project’s listed, especially when one considers that we are in a prolonged period of bearishness. Nevertheless, the full list of the 30 projects are listed below.

Zcoin, YOYOW, Wanchain, Verge, Tron, Skycoin, Quark Chain, Qtum, QLC Chain, Project Pai, OST, Ontology, NULS, Nexus, NEO, Nebulas, Nano, Aeron, IoTeX, IOS Token, H Cash, GXChain, Gifto, Genesis Vision, Enjin, Digix Global, Cybermiles, Contentos, Bluzelle, and Aelf.

Binance Info Look to Become the hub of Cryptocurrency Information

The specific entity behind the Gold Label list is Binance Info, a side project of the main Binance trading platform. The Binance Info arena provides a range of information linked to more than 1,000 blockchain asset projects, including real-time market pricing, trading volumes and overall project analysis. The idea behind the platform is provide the cryptocurrency community with an impartial space to ascertain whether a project is worth backing.

According to the medium post that Binance used to announce the list, the 30 projects that made the cut were required to go through a vigorous verification process. As per the publication, all of the cryptocurrencies that made the cut are projects that “keep blockchain enthusiasts informed and updated.”

The team at Binance also made it clear that the list will not be restricted to the 30 projects that currently hold the Gold Label. On the contrary, all projects have the capacity to apply for the listing, as long as they meet the minimum expectations, which are based on transparency and regularly updating investors. 

Gold Label List Varies Quite Considerably

In terms of market capitalization, the largest project that made the Binance Gold Label list is that of TRON. The Chinese-based cryptocurrency project, which at the time of writing is positioned at number 10 with a market capitalization of just under $1 billion, aims to revolutionize the digital space by decentralizing the World Wide Web.

At the other end of the spectrum, Genesis Vision – who are looking to target the private trust management markets, currently sit with a market capitalization of just under $20 million, as per data retrieved from CoinMarketCap at the time of writing.

In theory, the Gold Standard list is a good idea, especially if it has the potential to motivate cryptocurrency project leaders to keep token holders updated at all times. Furthermore, it also has the potential to red flag murky projects that might otherwise stay under the radar.

However, it must also be noted that the Binance Gold Label list is a somewhat subjective viewpoint of a single entity operating in the blockchain space. Ultimately, the list may hold more credence if the verification process was conducted by multiple industry leaders, or better – an impartial third party

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U.S Department of Homeland Security Considering How to Investigate Blockchain Transactions

With global governments beginning to increase their commitment to preventing, detecting and subsequently seizing criminal proceeds held in the form of cryptocurrencies and blockchain technology, it appears that the U.S. Department of Homeland Security are looking to follow suit. The governmental department recently published a pre-solicitation notice, with the view of obtaining information from relevant stakeholders regarding the investigatory process of blockchain forensics.

For those unaware, pre-solicitation notices issued by U.S. governmental agencies are a way for interested stakeholders to ask specific questions related to a potential proposal. In the case of the pre-solicitation issued on November 30th, titled ‘The Department of Homeland Security (DHS) Small Business Innovation Research (SBIR) FY19 PreSolicitation’, the notice is linked specifically to blockchain analysis.

Bitcoin Privacy

Upon breaking the notice down, it appears that the Department of Homeland Security are interested in hearing future proposals that will assist in finding a solution for law enforcement agencies to perform forensic analysis on blockchain protocols. Moreover, the notice also makes reference to the creation of a blockchain application that has the capacity to analyze emerging cryptocurrencies.

Department of Homeland Security Makes Reference to Monero and Zcash.

Interestingly, the Department of Homeland Security state that although the “most well-known use case would likely be Bitcoin, prior endeavors have already addressed blockchain forensics regarding the world’s leading cryptocurrency. On the contrary, the agency are more concerned with the cryptocurrency industry in its wider context. In fact, the pre-solicitation makes direct reference to privacy coins such as Monero and Zcash.

Privacy Cryptocurrencies

Read: What are Privacy Coins?

Moreover, it was also noted that ongoing research in to a range of factors linked to the phenomenon of blockchain technology must continue, notably consensus mechanisms, security, privacy, internet of things (IOT) and encryption.

Throughout the notice, the Department of Homeland Security are generally positive towards the digital eco-system, adding that “these technologies stand to radically transform operations in government and the private sector”. However, the agency also noted the importance of blockchain analytics with respect to the successful enforcement of anti-money laundering and KYC (Know Your Customer) compliance.

Furthermore, although the Department of Homeland Security recognize that certain characteristics of cryptocurrencies, such as the levels of privacy and anonymity they offer users, it is crucial that law enforcement agencies are able to have a greater oversight of transactions to ensure illicit activity is detected.

It is important to note that whilst the pre-solicitation notice is seeking technical questions related to the subject matter, it is not yet looking for specific proposals from industry experts at this moment in time. It is believed this will be the next stage for the Department of Homeland Security.

U.S. Governmental Departments Continue Their Exploration with Blockchain

The recent pre-solicitation notice issued by the Department of Homeland Security follows on from recent interest from the Defense Advanced Research Projects Agency (DARPA). The agency are the organization responsible for providing the Department of Defense with research material and as such, are looking to create a workshop that centers on permissionless blockchain usage.

However, unlike the pre-solicitation notice issued by the Department of Homeland Security, which is primarily concerned with law enforcement investigatory measures, researchers at DARPA are interested in permissionless distributed consensus protocols. Researchers believe that three main pillars in particular require further exploration. This includes the ability to incentivize without utilizing traditional money, security models for distributed protocols and further analysis of centralization within the distributed consensus arena.

The DARPA blockchain workshop has been scheduled for February 14-15th and is set to be hosted in Arlington County, Virginia.

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Mayweather & DJ Khaled Slapped by the SEC in Centra ICO Scam

Two celebrity backers of the infamous Centra initial coin offering (ICO) – notably undefeated boxing legend Floyd Mayweather and DJ Khaled, have just agreed a settlement with the Securities and Exchange Commission (SEC). The agreement will see the two celebrities pay fines that collectively amount to more than $700,000. As a result, this should be a stark warning to high profile figures that agree to promote a crypto-related project that, insofar that the SEC are looking to clamp down on the phenomenon.

Mayweather Khaled SEC Fine

The Centra Saga – What Happened?

For those that do not recall the Centra ICO saga, let’s quickly recap. In late 2017, a project known as Centra Tech engaged in an ICO to help fund their cryptocurrency debit card service. The project claimed to have formed partnerships with both Visa and MasterCard, subsequently using this as a key marketing metric. It was also claimed that users could use the pre-paid debit cards to freely spend cryptocurrency holdings at any physical or online merchant that accepts Visa or MasterCard, as well as at ATM terminals.

Mayweather Khalid Centra

Read: Celebrities Shilling for Cryptocurrency: A Risky Investment

These claims, alongside public endorsement by both Floyd Mayweather and DJ Khaled, resulted in the ICO fund raising campaign collecting the cryptocurrency equivalent of more than $32 million.

Fast forward to April 2018 and the SEC – the hugely influential regulator of the U.S. financial services industry, closed the project down. The SEC reported that those behind the project – namely Robert Farkas and Sam Sharma, had promised investors an innovative technology that was based on nothing more than a “web of lies”.

With both Farkas and Sharma subsequently arrested by law enforcement, the SEC quickly turned its attention to the celebrity endorsers.

How Much Does it Cost to Get an A-List Celebrity to Promote an ICO?

In the case of Floyd Mayweather, who earned a reported $275 million in his recent bout with Conor McGregor, the boxer raked in $300,000 across three separate ICO campaigns, including that of Centra. One such task saw Mayweather Tweet “starts in a few hours. Get yours before they sell out, I got mine” [referring to the Centra ICO), to his almost 8 million Twitter followers.

In response, Mayweather agreed to pay the SEC a total of $614,775 – which broken-down, amounts to the $300,000 ICO-related payments he received, an additional $300,000 fine, plus interest.

Regarding DJ Khaled, it is believed the celebrity was paid $50,000 by the Centra team, as per the SEC. Khaled was personally ordered to settle a fine of more than $150,000, which included the $50,000 payment he received, plus a fine and interest.

Celebrity Backers on the Rise

This isn’t the first time that the SEC have flexed their muscles when it comes to celebrity cryptocurrency endorsements. Earlier in the year it was reported that John McAfee – the anti-virus pioneer turned cryptocurrency evangelist, charged a range of blockchain projects over $100,000 to Tweet public support to his 800,000+ Twitter fan base.

Once such example of McAfee’s paid-for public support was Verge (XVG), which resulted in an amplification of the project’s token, in direct correlation to the celebrity’s tweet. In response to pressure from the national regulator, McAfee later Tweeted that “Due to SEC threats”, he was no longer involving himself with ICO promotion.

We also reported last month that Lionel Messi – the global Soccer star that plays for Spanish La Liga team Barcelona, has associated himself with a blockchain project.

Although it remains to be seen how much the Finney mobile phone project, which claims to be the world’s first blockchain-based phone, have agreed to pay Messi, one would imagine that the sum is somewhat sizeable, especially when one considers the Soccer player’s global reach of more than 90 million Twitter followers.

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