Trading 212 Review: Not the Best Way to Invest in Bitcoin
Trading 212 Review: Scam or Legit – Traders Should Read This
Trading Instruments - Trading 212
Learn. Trade. Invest. - Trading 212
Negative balance, need pro help to help
Guys, if anyone could share your knowledge and help me with the following please: I opened Trading212 account thinking I know best how to trade without any knowledge (stupid, I know!). The main reason was to avoid coinbase fees as I was using that platform to buy Bitcoin. So I opened an account, put about £600 (transferred profit I made from Coinbase) and bought Bitcoin Cash . Now, as soon as I bought BCH my account showed -£186 and currently Live result is -£253. Free funds £44, Blocked funds £289, Account value £333. Can someone explain to me in very basic terms what does this mean and do I owe £253 to 212? How do I close my position so I can close my account completely? Oh, and also, quantity I have is 3 @ 343.44. I am currently doing a course, but it takes time of course, so I don't want to lose any more money until I am confident to trade again once I have more knowledge.
Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!
That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ??? Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth. Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ... . Bitcoin Achievements so far:
It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
Many 1,000's of hacks, thefts, losses.
Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
Contributing significantly to Global Warming.
Wastes vasts amounts of electricity on useless, do nothing work.
Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
It created a new way for people living too far from Vegas to gamble all their life savings away.
Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
Increased China's foreign trade balance by a couple billion dollars per year.
Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
"When transactions are verified on a Blockchain, banks become obsolete.", Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
SnapshillBot quotes from delusional morons:
"A bitcoin miner in every device and in every hand."
"All the indicators are pointing to a huge year and bigger than anything we have seen before."
"Bitcoin is communism and democracy working hand in hand."
"Bitcoin is freedom, and we will soon be free."
"Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
"Bitcoin most disruptive technology of last 500 years"
"Bitcoin: So easy, your grandma can use it!"
"Creating a 4th Branch of Government - Bitcoin"
"Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
"Future us will thank us."
"Give Bitcoin two years"
"HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
"Cut out the middleman"
"full control of your own assets"
"reduction in wealth gap"
"no inflation"
"cannot print money out of thin air"
"Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
"If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
"Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
"NO COINERS will believe anything they are fed by fake news and paid media."
"I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
"I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
"I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
"I think Bitcoin will do for mankind what the sun did for life on earth."
"I think the constant scams and illegal activities only show the viability of bitcoin."
"I think we're sitting on the verge of exponential interest in the currency."
"I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
"If Jesus ever comes back you know he's gonna be using Bitcoin"
"If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
"If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
"In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
"In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
"Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
"It won't be long until bitcoin is an everyday household term."
"It's the USD that is volatile. Bitcoin is the real neutral currency."
"Just like the early Internet!"
"Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
"Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
"let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
"My conclusion is that I see this a a very good thing for bitcoin and for users"
"No one would do such a thing; it'd be against their self interests."
"Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
"Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
"Seperation of money and state -> states become obsolete -> world peace."
"Some striking similarities between Bitcoin and God"
"THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
"The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
"The bull run should begin any day now."
"The free market doesn't permit fraud and theft."
"The free market will clear away the bad actors."
"The only regulation we need is the blockchain."
"We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
"We do not need the bankers for Satoshi is our saviour!"
"We have never seen something so perfect"
"We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
"We verified that against the blockchain."
"we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
"Well, since 2006, there has been a infinite% increase in price, so..."
"What doesn't kill cryptocurrency makes it stronger."
"When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
"When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
"Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
"Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
"You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
"You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
"Your phone or refrigerator might be on the blockchain one day."
The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
It's impossible to hide illegal, unsavory material on the blockchain
It's impossible to hide child pornography on the blockchain
Fungible
All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
immune to government regulation
"a world-changing technology"
"a long-term store of value, like gold or silver"
"To Complex to Be Audited."
"Old Auditing rules do not apply to Blockchain."
"Old Auditing rules do not apply to Cryptocurrency."
Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
2018-12: "There is no reason why we couldn’t see Bitcoin pushing $50,000 by December [2018]", Thomas Glucksmann, head of APAC business at Gatecoin, Link #1: https://www.bitcoinprice.com/predictions/
2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at30 grandor more by next Christmas [2018] - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully"u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
2018-12: "Bitcoin could be at$40,000by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
2018-12: "Bitcoin’s Price Will Surpass the$100,000Mark by the End of 2018", Anonymous ("author" obviously too embarrassed to put his name to such bullshit "articles"), Oct-2018, https://investingpr.com/bitcoin-price-predictions-for-2018/
2018-12: Bitcoin will end 2018 at the price point of$50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
WARNING: If you try to use the Lightning Network you are at extremely HIGH RISK of losing funds and is not recommended or safe to do at this time or for the foreseeable future (274 points, 168 comments)
The guy who won this week's MillionaireMakers drawing has received ~$55 in BCH and ~$30 in BTC. It will cost him less than $0.01 to move the BCH, but $6.16 (20%) in fees to move the BTC. (164 points, 100 comments)
Do you think Bitcoin needs to increase the block size? You're in luck! It already did: Bitcoin BCH. Avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now. (209 points, 194 comments)
Master list of evidence regarding Bitcoin's hijacking and takeover by Blockstream (185 points, 113 comments)
PSA: BTC not working so great? Bitcoin upgraded in 2017. The upgraded Bitcoin is called BCH. There's still time to upgrade! (185 points, 192 comments)
This sub is the only sub in all of Reddit that allows truly uncensored discussion of BTC. If it turns out that most of that uncensored discussion is negative, DON'T BLAME US. (143 points, 205 comments)
Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. (284 points, 219 comments)
211 points: fireduck's comment in John Mcafee on the run from IRS Tax Evasion charges, running 2020 Presidential Campaign from Venezuela in Exile
203 points: WalterRothbard's comment in I am a Bitcoin supporter and developer, and I'm starting to think that Bitcoin Cash could be better, but I have some concerns, is anyone willing to discuss them?
179 points: Chris_Pacia's comment in The BSV chain has just experienced a 6-block reorg
163 points: YourBodyIsBCHn's comment in I made this account specifically to tip in nsfw/gonewild subreddits
161 points: BeijingBitcoins's comment in Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo!
156 points: hawks5999's comment in You can’t make this stuff up. This is how BTC supporters actually think. From bitcoin: “What you can do to make BTC better: check twice if you really need to use it!” 🤦🏻♂️
155 points: lowstrife's comment in Steve Wozniak Sold His Bitcoin at Its Peak $20,000 Valuation
151 points: kdawgud's comment in The government is taking away basic freedoms we each deserve
147 points: m4ktub1st's comment in BCH suffered a 51% attack by colluding miners to re-org the chain in order to reverse transactions - why is nobody talking about this? Dangerous precident
147 points: todu's comment in Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers.
Trust 9.6/10 FatBTC exchange has a great reputation online although the community is still growing. Fees 9.8/10 The exchange’s 0.2% trading fee is attractive and below average. CustomerSupport 9.2/10 The exchange answers to inquiries fast and professionally. Easeof Use 9.5/10 It is easy to trade on FatBTC with the exchange's currencies. Overall rating: The true user experience of FatBTC will be evaluated as the community grows. Its liquidity grows high, making it easy for traders to feel attracted to the exchange. Is FatBTC reliable? - Full Exchange Review Quickinnernavigation:
What is FatBTC?
FatBTC Fees
FatBTC Verification
Special Features
How to use FatBTC?
Although there are over a dozen cryptocurrency exchanges with high reviews, traders are always looking for new trading platforms to experiment with. Coinmarketcap.com lists 212 exchanges, some with 24 hours trading volumes of more than $700000. FatBTC, a global exchange, ranks 22th with a daily trading volume of $17 million. The biggest exchange based on daily trading volume is BitMex, an exchange most notable for trading Bitcoins against US dollars. The largest cryptocurrency to cryptocurrency exchange is Binance, with a 24-hour trading volume of $1.84 billion. Bitfinex comes in third and popular US-based exchange, GDAX, ranks eighth. FatBTC ranks at number 8, has gained a lot of popularity since December 2017. The company claims to now have more than 100,000 daily traders. The following FatBTC exchange review explores all the important aspects of the trading platform. What is FatBTC? Launched in 2014, FatBTC targeted global traders. The official language on the website is now available in multiple languages, such as English, Chinese(Trading), Chinese (Simplified), Portuguese, Spanish,Russian and etc. It lists more than 100 cryptocurrencies, both popular and less popular cryptocurrencies. The exchange offers four main services: ► Purchase of Bitcoins can use USD, EUR, VND through bank transfer ► An online cryptocurrency wallet ► Purchase and selling of cryptocurrencies ► Speculative investment exchange, Fatcoin The platform has been open and welcoming to traders from all parts of the world. There are currently no limits to buying or selling any of the cryptocurrencies listed on the exchange. The average daily trading volume for Ethereum against Bitcoins, for example, is $36,800. With such a trading volume, an investor who purchases ether coins worth $10,000 and above will have trouble buying or selling the coins. Buying Payment Method As a Chinese focused market, FatBTC facilitates buying of the following cryptocurrencies using USD, EUR, VND via bank transfer: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, DogeCoin, EOS, Dent, Dragon Coin, Kin Coin. If you live outside China, you can fund your account using Bitcoins or Ethereum coins. You also have the option to add funds using popular altcoins Like Bitcoin Cash and Ripple. Selling Payment Methods FatBTC pairs most cryptocurrencies with Bitcoin, Ethereum.You can sell any cryptocurrencies, or receive Bitcoins or ether coins. According to the website’s daily trading volume, most traders sell their cryptocurrencies in either Bitcoins. Available Cryptocurrencies At the time of writing, FatBTC Lists 24 cryptocurrencies. Most of the coins on the exchange contribute Less than 5% of daily trading volumes. In fact, Bitcoin, Ethereum and Bitcoin Cash contribute 84% of the exchange’s daily trading volume.63.35% of all trading involves Chinese Yuan and Bitcoins. The top 13 cryptocurrencies contribute less than 1% of daily trading volumes. Bitcoin, Bitcoin Cash, Litecoin, and EOS are the top most popular cryptocurrencies on FatBTC.Less popular but rising cryptocurrencies on the exchange include TRON, Electra, and Dogecoin. FatBTC Fees With fixed 0.2% trading fees, the FatBTC exchange has Lower fees than most exchanges. FatBTC exchange has lower fees than most exchanges. The average trading fee is 0.25%, with a few exchanges offering up to 1%. Here is how FatBTC fares regarding fees compared to popular cryptocurrency exchanges. Some exchanges charge a maker versus taker fee, whereby sellers, who provide Liquidity to the coin, are makers. Takers are traders buying the coins. Some exchanges charge a fixed trading fee irrespective of whether you are buying or selling a cryptocurrency. Exchange Maker Taker Fixed fee GDAX 0% 0.25% Bitfinex 0.1% 0.2% HitBTC 0.1% Binance 0.1% Poloniex 0.15% 0.25% Kraken 0.16% 0.26% As you can see above, only Binance and HitBTC beat FatBTC in fees. However, FatBTC does not charge deposit fees, while some exchanges that purport to charge low or no trading fees do. The exchange does, however, charge a slightly high withdrawal fee of 0.5% Bitcoins. FatBTC Verification Creating an account on the trading platform is fast and easy. To register, the exchange asks for your email address where they send a verification code. Once you enter the code, you can create a password and log in immediately. No additional details are requested. FatBTC Special Features ► Bonus Giveaways To attract more traders to the platform, FatBTC is constantly offering bonuses and gifts to their traders. When promoting the introduction of Newifi Gold, for example, the exchange promised to giveaway a Tesla electric car, a tour, Apple devices, and bonuses to the top 10 traders. ► Live Announcements The trading platform has an announcement tab on the left corner where news and important information is regularly updated. On top of that, there is a live chatbox where you can ask for assistance 24/7. ► Customer Support The exchange has three main ways mode of communication with traders: ► A live chatbox. ► A ticket system where traders can submit their messages. ► Social media on Telegram, email, and Twitter. So far, there have been no significant complaints about the exchange's customer support. If anything, most traders appreciate the exchange’s quick customer care. How to use FatBTC? The trading platform has a fairly easy user interface. You can access any of the services on FatBTC by following these steps: Step 1: Create an Account As already mentioned, creating an account on the exchange only requires a genuine email address. Through the email address, the exchange provides a verification code which helps you create an account. Verification to log in on the exchange is your email address and a password. Step 2: Fund your Account Except for Chinese traders who can fund their accounts using the local currency, most traders will have to fund their accounts using Bitcoins or Ethereum.FatBTC provides a deposit address unique to each cryptocurrency. Fund your account with a minimum of 0.05Bitcoins, and you can begin trading on the exchange. Step 3: Trade This exchange is a little bit unique. The website separates trading into four: ► Bitcoin Market ► Ethereum Market ► Fatcoin Market Step 4: Withdraw Funds As already mentioned, the minimum coin withdrawal amount is an equivalent of 0.05 Bitcoins. There is a fixed withdrawal fee of 0.005 Bitcoins. The Deposit and Withdrawal tab can be accessed on the far right corner of your screen. When depositing coins, you lock them with a unique password that you also use when withdrawing them. In a Nutshell FatBTC is fast-growing, thanks to a user-friendly, responsive website and good customer support It’s fast-growing, thanks to a user-friendly, responsive website and good customer support. Thank you for reading our FatBTC review above. Hopefully, it will help you make an informed decision of whether to trade on the platform or not.
Trust 9.6/10 FatBTC exchange has a great reputation online although the community is still growing. Fees 9.8/10 The exchange’s 0.2% trading fee is attractive and below average. CustomerSupport 9.2/10 The exchange answers to inquiries fast and professionally. Easeof Use 9.5/10 It is easy to trade on FatBTC with the exchange's currencies. Overall rating: The true user experience of FatBTC will be evaluated as the community grows. Its liquidity grows high, making it easy for traders to feel attracted to the exchange. Is FatBTC reliable? - Full Exchange Review Quickinnernavigation:
What is FatBTC?
FatBTC Fees
FatBTC Verification
Special Features
How to use FatBTC?
Although there are over a dozen cryptocurrency exchanges with high reviews, traders are always looking for new trading platforms to experiment with. Coinmarketcap.com lists 212 exchanges, some with 24 hours trading volumes of more than $700000. FatBTC, a global exchange, ranks 22th with a daily trading volume of $17 million. The biggest exchange based on daily trading volume is BitMex, an exchange most notable for trading Bitcoins against US dollars. The largest cryptocurrency to cryptocurrency exchange is Binance, with a 24-hour trading volume of $1.84 billion. Bitfinex comes in third and popular US-based exchange, GDAX, ranks eighth. FatBTC ranks at number 8, has gained a lot of popularity since December 2017. The company claims to now have more than 100,000 daily traders. The following FatBTC exchange review explores all the important aspects of the trading platform. What is FatBTC? Launched in 2014, FatBTC targeted global traders. The official language on the website is now available in multiple languages, such as English, Chinese(Trading), Chinese (Simplified), Portuguese, Spanish,Russian and etc. It lists more than 100 cryptocurrencies, both popular and less popular cryptocurrencies. The exchange offers four main services: ► Purchase of Bitcoins can use USD, EUR, VND through bank transfer ► An online cryptocurrency wallet ► Purchase and selling of cryptocurrencies ► Speculative investment exchange, Fatcoin The platform has been open and welcoming to traders from all parts of the world. There are currently no limits to buying or selling any of the cryptocurrencies listed on the exchange. The average daily trading volume for Ethereum against Bitcoins, for example, is $36,800. With such a trading volume, an investor who purchases ether coins worth $10,000 and above will have trouble buying or selling the coins. Buying Payment Method As a market, FatBTC facilitates buying of the following cryptocurrencies using USD, EUR, VND via bank transfer: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, DogeCoin, EOS, Dent, Dragon Coin, Kin Coin. If you live outside China, you can fund your account using Bitcoins or Ethereum coins. You also have the option to add funds using popular altcoins Like Bitcoin Cash and Ripple. Selling Payment Methods FatBTC pairs most cryptocurrencies with Bitcoin, Ethereum.You can sell any cryptocurrencies, or receive Bitcoins or ether coins. According to the website’s daily trading volume, most traders sell their cryptocurrencies in either Bitcoins. Available Cryptocurrencies At the time of writing, FatBTC Lists 24 cryptocurrencies. Most of the coins on the exchange contribute Less than 5% of daily trading volumes. In fact, Bitcoin, Ethereum and Bitcoin Cash contribute 84% of the exchange’s daily trading volume.63.35% of all trading involves Chinese Yuan and Bitcoins. The top 13 cryptocurrencies contribute less than 1% of daily trading volumes. Bitcoin, Bitcoin Cash, Litecoin, and EOS are the top most popular cryptocurrencies on FatBTC.Less popular but rising cryptocurrencies on the exchange include TRON, Electra, and Dogecoin. FatBTC Fees With fixed 0.2% trading fees, the FatBTC exchange has Lower fees than most exchanges. FatBTC exchange has lower fees than most exchanges. The average trading fee is 0.25%, with a few exchanges offering up to 1%. Here is how FatBTC fares regarding fees compared to popular cryptocurrency exchanges. Some exchanges charge a maker versus taker fee, whereby sellers, who provide Liquidity to the coin, are makers. Takers are traders buying the coins. Some exchanges charge a fixed trading fee irrespective of whether you are buying or selling a cryptocurrency. Exchange Maker Taker Fixed fee GDAX 0% 0.25% Bitfinex 0.1% 0.2% HitBTC 0.1% Binance 0.1% Poloniex 0.15% 0.25% Kraken 0.16% 0.26% As you can see above, only Binance and HitBTC beat FatBTC in fees. However, FatBTC does not charge deposit fees, while some exchanges that purport to charge low or no trading fees do. The exchange does, however, charge a slightly high withdrawal fee of 0.5% Bitcoins. FatBTC Verification Creating an account on the trading platform is fast and easy. To register, the exchange asks for your email address where they send a verification code. Once you enter the code, you can create a password and log in immediately. No additional details are requested. FatBTC Special Features ► Bonus Giveaways To attract more traders to the platform, FatBTC is constantly offering bonuses and gifts to their traders. When promoting the introduction of Newifi Gold, for example, the exchange promised to giveaway a Tesla electric car, a tour, Apple devices, and bonuses to the top 10 traders. ► Live Announcements The trading platform has an announcement tab on the left corner where news and important information is regularly updated. On top of that, there is a live chatbox where you can ask for assistance 24/7. ► Customer Support The exchange has three main ways mode of communication with traders: ► A live chatbox. ► A ticket system where traders can submit their messages. ► Social media on Telegram, email, and Twitter. So far, there have been no significant complaints about the exchange's customer support. If anything, most traders appreciate the exchange’s quick customer care. How to use FatBTC? The trading platform has a fairly easy user interface. You can access any of the services on FatBTC by following these steps: Step 1: Create an Account As already mentioned, creating an account on the exchange only requires a genuine email address. Through the email address, the exchange provides a verification code which helps you create an account. Verification to log in on the exchange is your email address and a password. Step 2: Fund your Account Except for Chinese traders who can fund their accounts using the local currency, most traders will have to fund their accounts using Bitcoins or Ethereum.FatBTC provides a deposit address unique to each cryptocurrency. Fund your account with a minimum of 0.05Bitcoins, and you can begin trading on the exchange. Step 3: Trade This exchange is a little bit unique. The website separates trading into four: ► Bitcoin Market ► Ethereum Market ► Fatcoin Market Step 4: Withdraw Funds As already mentioned, the minimum coin withdrawal amount is an equivalent of 0.05 Bitcoins. There is a fixed withdrawal fee of 0.005 Bitcoins. The Deposit and Withdrawal tab can be accessed on the far right corner of your screen. When depositing coins, you lock them with a unique password that you also use when withdrawing them. In a Nutshell FatBTC is fast-growing, thanks to a user-friendly, responsive website and good customer support It’s fast-growing, thanks to a user-friendly, responsive website and good customer support. Thank you for reading our FatBTC review above. Hopefully, it will help you make an informed decision of whether to trade on the platform or not.
Trust 9.6/10 FatBTC exchange has a great reputation online although the community is still growing. Fees 9.8/10 The exchange’s 0.2% trading fee is attractive and below average. CustomerSupport 9.2/10 The exchange answers to inquiries fast and professionally. Easeof Use 9.5/10 It is easy to trade on FatBTC with the exchange's currencies. Overall rating: The true user experience of FatBTC will be evaluated as the community grows. Its liquidity grows high, making it easy for traders to feel attracted to the exchange. Is FatBTC reliable? - Full Exchange Review Quickinnernavigation:
What is FatBTC?
FatBTC Fees
FatBTC Verification
Special Features
How to use FatBTC?
Although there are over a dozen cryptocurrency exchanges with high reviews, traders are always looking for new trading platforms to experiment with. Coinmarketcap.com lists 212 exchanges, some with 24 hours trading volumes of more than $700000. FatBTC, a global exchange, ranks 22th with a daily trading volume of $17 million. The biggest exchange based on daily trading volume is BitMex, an exchange most notable for trading Bitcoins against US dollars. The largest cryptocurrency to cryptocurrency exchange is Binance, with a 24-hour trading volume of $1.84 billion. Bitfinex comes in third and popular US-based exchange, GDAX, ranks eighth. FatBTC ranks at number 8, has gained a lot of popularity since December 2017. The company claims to now have more than 100,000 daily traders. The following FatBTC exchange review explores all the important aspects of the trading platform. What is FatBTC? Launched in 2014, FatBTC targeted global traders. The official language on the website is now available in multiple languages, such as English, Chinese(Trading), Chinese (Simplified), Portuguese, Spanish,Russian and etc. It lists more than 100 cryptocurrencies, both popular and less popular cryptocurrencies. The exchange offers four main services: ► Purchase of Bitcoins can use USD, EUR, VND through bank transfer ► An online cryptocurrency wallet ► Purchase and selling of cryptocurrencies ► Speculative investment exchange, Fatcoin The platform has been open and welcoming to traders from all parts of the world. There are currently no limits to buying or selling any of the cryptocurrencies listed on the exchange. The average daily trading volume for Ethereum against Bitcoins, for example, is $36,800. With such a trading volume, an investor who purchases ether coins worth $10,000 and above will have trouble buying or selling the coins. Buying Payment Method As a Chinese focused market, FatBTC facilitates buying of the following cryptocurrencies using USD, EUR, VND via bank transfer: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, DogeCoin, EOS, Dent, Dragon Coin, Kin Coin. If you live outside China, you can fund your account using Bitcoins or Ethereum coins. You also have the option to add funds using popular altcoins Like Bitcoin Cash and Ripple. Selling Payment Methods FatBTC pairs most cryptocurrencies with Bitcoin, Ethereum.You can sell any cryptocurrencies, or receive Bitcoins or ether coins. According to the website’s daily trading volume, most traders sell their cryptocurrencies in either Bitcoins. Available Cryptocurrencies At the time of writing, FatBTC Lists 24 cryptocurrencies. Most of the coins on the exchange contribute Less than 5% of daily trading volumes. In fact, Bitcoin, Ethereum and Bitcoin Cash contribute 84% of the exchange’s daily trading volume.63.35% of all trading involves Chinese Yuan and Bitcoins. The top 13 cryptocurrencies contribute less than 1% of daily trading volumes. Bitcoin, Bitcoin Cash, Litecoin, and EOS are the top most popular cryptocurrencies on FatBTC.Less popular but rising cryptocurrencies on the exchange include TRON, Electra, and Dogecoin. FatBTC Fees With fixed 0.2% trading fees, the FatBTC exchange has Lower fees than most exchanges. FatBTC exchange has lower fees than most exchanges. The average trading fee is 0.25%, with a few exchanges offering up to 1%. Here is how FatBTC fares regarding fees compared to popular cryptocurrency exchanges. Some exchanges charge a maker versus taker fee, whereby sellers, who provide Liquidity to the coin, are makers. Takers are traders buying the coins. Some exchanges charge a fixed trading fee irrespective of whether you are buying or selling a cryptocurrency. Exchange Maker Taker Fixed fee GDAX 0% 0.25% Bitfinex 0.1% 0.2% HitBTC 0.1% Binance 0.1% Poloniex 0.15% 0.25% Kraken 0.16% 0.26% As you can see above, only Binance and HitBTC beat FatBTC in fees. However, FatBTC does not charge deposit fees, while some exchanges that purport to charge low or no trading fees do. The exchange does, however, charge a slightly high withdrawal fee of 0.5% Bitcoins. FatBTC Verification Creating an account on the trading platform is fast and easy. To register, the exchange asks for your email address where they send a verification code. Once you enter the code, you can create a password and log in immediately. No additional details are requested. FatBTC Special Features ► Bonus Giveaways To attract more traders to the platform, FatBTC is constantly offering bonuses and gifts to their traders. When promoting the introduction of Newifi Gold, for example, the exchange promised to giveaway a Tesla electric car, a tour, Apple devices, and bonuses to the top 10 traders. ► Live Announcements The trading platform has an announcement tab on the left corner where news and important information is regularly updated. On top of that, there is a live chatbox where you can ask for assistance 24/7. ► Customer Support The exchange has three main ways mode of communication with traders: ► A live chatbox. ► A ticket system where traders can submit their messages. ► Social media on Telegram, email, and Twitter. So far, there have been no significant complaints about the exchange's customer support. If anything, most traders appreciate the exchange’s quick customer care. How to use FatBTC? The trading platform has a fairly easy user interface. You can access any of the services on FatBTC by following these steps: Step 1: Create an Account As already mentioned, creating an account on the exchange only requires a genuine email address. Through the email address, the exchange provides a verification code which helps you create an account. Verification to log in on the exchange is your email address and a password. Step 2: Fund your Account Except for Chinese traders who can fund their accounts using the local currency, most traders will have to fund their accounts using Bitcoins or Ethereum.FatBTC provides a deposit address unique to each cryptocurrency. Fund your account with a minimum of 0.05Bitcoins, and you can begin trading on the exchange. Step 3: Trade This exchange is a little bit unique. The website separates trading into four: ► Bitcoin Market ► Ethereum Market ► Fatcoin Market Step 4: Withdraw Funds As already mentioned, the minimum coin withdrawal amount is an equivalent of 0.05 Bitcoins. There is a fixed withdrawal fee of 0.005 Bitcoins. The Deposit and Withdrawal tab can be accessed on the far right corner of your screen. When depositing coins, you lock them with a unique password that you also use when withdrawing them. In a Nutshell FatBTC is fast-growing, thanks to a user-friendly, responsive website and good customer support It’s fast-growing, thanks to a user-friendly, responsive website and good customer support. Thank you for reading the FatBTC review above!
Trust 9.6/10 FatBTC exchange has a great reputation online although the community is still growing. Fees 9.8/10 The exchange’s 0.2% trading fee is attractive and below average. CustomerSupport 9.2/10 The exchange answers to inquiries fast and professionally. Easeof Use 9.5/10 It is easy to trade on FatBTC with the exchange's currencies. Overall rating: The true user experience of FatBTC will be evaluated as the community grows. Its liquidity grows high, making it easy for traders to feel attracted to the exchange. Is FatBTC reliable? - Full Exchange Review Quickinnernavigation:
What is FatBTC?
FatBTC Fees
FatBTC Verification
Special Features
How to use FatBTC?
Although there are over a dozen cryptocurrency exchanges with high reviews, traders are always looking for new trading platforms to experiment with. Coinmarketcap.com lists 212 exchanges, some with 24 hours trading volumes of more than $700000. FatBTC, a global exchange, ranks 22th with a daily trading volume of $17 million. The biggest exchange based on daily trading volume is BitMex, an exchange most notable for trading Bitcoins against US dollars. The largest cryptocurrency to cryptocurrency exchange is Binance, with a 24-hour trading volume of $1.84 billion. Bitfinex comes in third and popular US-based exchange, GDAX, ranks eighth. FatBTC ranks at number 8, has gained a lot of popularity since December 2017. The company claims to now have more than 100,000 daily traders. The following FatBTC exchange review explores all the important aspects of the trading platform. What is FatBTC? Launched in 2014, FatBTC targeted global traders. The official language on the website is now available in multiple languages, such as English, Chinese(Trading), Chinese (Simplified), Portuguese, Spanish,Russian and etc. It lists more than 100 cryptocurrencies, both popular and less popular cryptocurrencies. The exchange offers four main services: ► Purchase of Bitcoins can use USD, EUR, VND through bank transfer ► An online cryptocurrency wallet ► Purchase and selling of cryptocurrencies ► Speculative investment exchange, Fatcoin The platform has been open and welcoming to traders from all parts of the world. There are currently no limits to buying or selling any of the cryptocurrencies listed on the exchange. The average daily trading volume for Ethereum against Bitcoins, for example, is $36,800. With such a trading volume, an investor who purchases ether coins worth $10,000 and above will have trouble buying or selling the coins. Buying Payment Method As a market, FatBTC facilitates buying of the following cryptocurrencies using USD, EUR, VND via bank transfer: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, DogeCoin, EOS, Dent, Dragon Coin, Kin Coin. If you live outside China, you can fund your account using Bitcoins or Ethereum coins. You also have the option to add funds using popular altcoins Like Bitcoin Cash and Ripple. Selling Payment Methods FatBTC pairs most cryptocurrencies with Bitcoin, Ethereum. You can sell any cryptocurrencies, or receive Bitcoins or ether coins. According to the website’s daily trading volume, most traders sell their cryptocurrencies in either Bitcoins. Available Cryptocurrencies At the time of writing, FatBTC Lists 24 cryptocurrencies. Most of the coins on the exchange contribute Less than 5% of daily trading volumes. In fact, Bitcoin, Ethereum and Bitcoin Cash contribute 84% of the exchange’s daily trading volume.63.35% of all trading involves Chinese Yuan and Bitcoins. The top 13 cryptocurrencies contribute less than 1% of daily trading volumes. Bitcoin, Bitcoin Cash, Litecoin, and EOS are the top most popular cryptocurrencies on FatBTC.Less popular but rising cryptocurrencies on the exchange include TRON, Electra, and Dogecoin. FatBTC Fees With fixed 0.2% trading fees, the FatBTC exchange has Lower fees than most exchanges. FatBTC exchange has lower fees than most exchanges. The average trading fee is 0.25%, with a few exchanges offering up to 1%. Here is how FatBTC fares regarding fees compared to popular cryptocurrency exchanges. Some exchanges charge a maker versus taker fee, whereby sellers, who provide Liquidity to the coin, are makers. Takers are traders buying the coins. Some exchanges charge a fixed trading fee irrespective of whether you are buying or selling a cryptocurrency. Exchange Maker Taker Fixed fee GDAX 0% 0.25% Bitfinex 0.1% 0.2% HitBTC 0.1% Binance 0.1% Poloniex 0.15% 0.25% Kraken 0.16% 0.26% As you can see above, only Binance and HitBTC beat FatBTC in fees. However, FatBTC does not charge deposit fees, while some exchanges that purport to charge low or no trading fees do. The exchange does, however, charge a slightly high withdrawal fee of 0.5% Bitcoins. FatBTC Verification Creating an account on the trading platform is fast and easy. To register, the exchange asks for your email address where they send a verification code. Once you enter the code, you can create a password and log in immediately. No additional details are requested. FatBTC Special Features ► Bonus Giveaways To attract more traders to the platform, FatBTC is constantly offering bonuses and gifts to their traders. When promoting the introduction of Newifi Gold, for example, the exchange promised to giveaway a Tesla electric car, a tour, Apple devices, and bonuses to the top 10 traders. ► Live Announcements The trading platform has an announcement tab on the left corner where news and important information is regularly updated. On top of that, there is a live chatbox where you can ask for assistance 24/7. ► Customer Support The exchange has three main ways mode of communication with traders: ► A live chatbox. ► A ticket system where traders can submit their messages. ► Social media on Telegram, email, and Twitter. So far, there have been no significant complaints about the exchange's customer support. If anything, most traders appreciate the exchange’s quick customer care. How to use FatBTC? The trading platform has a fairly easy user interface. You can access any of the services on FatBTC by following these steps: Step 1: Create an Account As already mentioned, creating an account on the exchange only requires a genuine email address. Through the email address, the exchange provides a verification code which helps you create an account. Verification to log in on the exchange is your email address and a password. Step 2: Fund your Account Except for Chinese traders who can fund their accounts using the local currency, most traders will have to fund their accounts using Bitcoins or Ethereum.FatBTC provides a deposit address unique to each cryptocurrency. Fund your account with a minimum of 0.05Bitcoins, and you can begin trading on the exchange. Step 3: Trade This exchange is a little bit unique. The website separates trading into four: ► Bitcoin Market ► ETH Market ► FatCoin Market Step 4: Withdraw Funds As already mentioned, the minimum coin withdrawal amount is an equivalent of 0.05 Bitcoins. There is a fixed withdrawal fee of 0.005 Bitcoins. The Deposit and Withdrawal tab can be accessed on the far right corner of your screen. When depositing coins, you lock them with a unique password that you also use when withdrawing them. In a Nutshell FatBTC is fast-growing, thanks to a user-friendly, responsive website and good customer support It’s fast-growing, thanks to a user-friendly, responsive website and good customer support. Thank you for reading our the FatBTC review above. Hopefully, it will help you make an informed decision of whether to trade on the platform or not.
Trust 9.6/10 FatBTC exchange has a great reputation online although the community is still growing. Fees 9.8/10 The exchange’s 0.2% trading fee is attractive and below average. CustomerSupport 9.2/10 The exchange answers to inquiries fast and professionally. Easeof Use 9.5/10 It is easy to trade on FatBTC with the exchange's currencies. Overall rating: The true user experience of FatBTC will be evaluated as the community grows. Its liquidity grows high, making it easy for traders to feel attracted to the exchange. Is FatBTC reliable? - Full Exchange Review Quickinnernavigation:
What is FatBTC?
FatBTC Fees
FatBTC Verification
Special Features
How to use FatBTC?
Although there are over a dozen cryptocurrency exchanges with high reviews, traders are always looking for new trading platforms to experiment with. Coinmarketcap.com lists 212 exchanges, some with 24 hours trading volumes of more than $700000. FatBTC, a global exchange, ranks 22th with a daily trading volume of $17 million. The biggest exchange based on daily trading volume is BitMex, an exchange most notable for trading Bitcoins against US dollars. The largest cryptocurrency to cryptocurrency exchange is Binance, with a 24-hour trading volume of $1.84 billion. Bitfinex comes in third and popular US-based exchange, GDAX, ranks eighth. FatBTC ranks at number 8, has gained a lot of popularity since December 2017. The company claims to now have more than 100,000 daily traders. The following FatBTC exchange review explores all the important aspects of the trading platform. What is FatBTC? Launched in 2014, FatBTC targeted global traders. The official language on the website is now available in multiple languages, such as English, Chinese(Trading), Chinese (Simplified), Portuguese, Spanish,Russian and etc. It lists more than 100 cryptocurrencies, both popular and less popular cryptocurrencies. The exchange offers four main services: ► Purchase of Bitcoins can use USD, EUR, VND through bank transfer ► An online cryptocurrency wallet ► Purchase and selling of cryptocurrencies ► Speculative investment exchange, Fatcoin The platform has been open and welcoming to traders from all parts of the world. There are currently no limits to buying or selling any of the cryptocurrencies listed on the exchange. The average daily trading volume for Ethereum against Bitcoins, for example, is $36,800. With such a trading volume, an investor who purchases ether coins worth $10,000 and above will have trouble buying or selling the coins. Buying Payment Method As a market, FatBTC facilitates buying of the following cryptocurrencies using USD, EUR, VND via bank transfer: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, DogeCoin, EOS, Dent, Dragon Coin, Kin Coin. If you live outside China, you can fund your account using Bitcoins or Ethereum coins. You also have the option to add funds using popular altcoins Like Bitcoin Cash and Ripple. Selling Payment Methods FatBTC pairs most cryptocurrencies with Bitcoin, Ethereum.You can sell any cryptocurrencies, or receive Bitcoins or ether coins. According to the website’s daily trading volume, most traders sell their cryptocurrencies in either Bitcoins. Available Cryptocurrencies At the time of writing, FatBTC Lists 24 cryptocurrencies. Most of the coins on the exchange contribute Less than 5% of daily trading volumes. In fact, Bitcoin, Ethereum and Bitcoin Cash contribute 84% of the exchange’s daily trading volume.63.35% of all trading involves Chinese Yuan and Bitcoins. The top 13 cryptocurrencies contribute less than 1% of daily trading volumes. Bitcoin, Bitcoin Cash, Litecoin, and EOS are the top most popular cryptocurrencies on FatBTC.Less popular but rising cryptocurrencies on the exchange include TRON, Electra, and Dogecoin. FatBTC Fees With fixed 0.2% trading fees, the FatBTC exchange has Lower fees than most exchanges. FatBTC exchange has lower fees than most exchanges. The average trading fee is 0.25%, with a few exchanges offering up to 1%. Here is how FatBTC fares regarding fees compared to popular cryptocurrency exchanges. Some exchanges charge a maker versus taker fee, whereby sellers, who provide Liquidity to the coin, are makers. Takers are traders buying the coins. Some exchanges charge a fixed trading fee irrespective of whether you are buying or selling a cryptocurrency. Exchange Maker Taker Fixed fee GDAX 0% 0.25% Bitfinex 0.1% 0.2% HitBTC 0.1% Binance 0.1% Poloniex 0.15% 0.25% Kraken 0.16% 0.26% As you can see above, only Binance and HitBTC beat FatBTC in fees. However, FatBTC does not charge deposit fees, while some exchanges that purport to charge low or no trading fees do. The exchange does, however, charge a slightly high withdrawal fee of 0.5% Bitcoins. FatBTC Verification Creating an account on the trading platform is fast and easy. To register, the exchange asks for your email address where they send a verification code. Once you enter the code, you can create a password and log in immediately. No additional details are requested. FatBTC Special Features ► Bonus Giveaways To attract more traders to the platform, FatBTC is constantly offering bonuses and gifts to their traders. When promoting the introduction of Newifi Gold, for example, the exchange promised to giveaway a Tesla electric car, a tour, Apple devices, and bonuses to the top 10 traders. ► Live Announcements The trading platform has an announcement tab on the left corner where news and important information is regularly updated. On top of that, there is a live chatbox where you can ask for assistance 24/7. ► Customer Support The exchange has three main ways mode of communication with traders: ► A live chatbox. ► A ticket system where traders can submit their messages. ► Social media on Telegram, email, and Twitter. So far, there have been no significant complaints about the exchange's customer support. If anything, most traders appreciate the exchange’s quick customer care. How to use FatBTC? The trading platform has a fairly easy user interface. You can access any of the services on FatBTC by following these steps: Step 1: Create an Account As already mentioned, creating an account on the exchange only requires a genuine email address. Through the email address, the exchange provides a verification code which helps you create an account. Verification to log in on the exchange is your email address and a password. Step 2: Fund your Account Except for Chinese traders who can fund their accounts using the local currency, most traders will have to fund their accounts using Bitcoins or Ethereum.FatBTC provides a deposit address unique to each cryptocurrency. Fund your account with a minimum of 0.05Bitcoins, and you can begin trading on the exchange. Step 3: Trade This exchange is a little bit unique. The website separates trading into four: ► Bitcoin Market ► Ethereum Market ► Fatcoin Market Step 4: Withdraw Funds As already mentioned, the minimum coin withdrawal amount is an equivalent of 0.05 Bitcoins. There is a fixed withdrawal fee of 0.005 Bitcoins. The Deposit and Withdrawal tab can be accessed on the far right corner of your screen. When depositing coins, you lock them with a unique password that you also use when withdrawing them. In a Nutshell FatBTC is fast-growing, thanks to a user-friendly, responsive website and good customer support It’s fast-growing, thanks to a user-friendly, responsive website and good customer support. Thank you for reading our FatBTC review above. Hopefully, it will help you make an informed decision of whether to trade on the platform or not.
The 3 Kinds of Cryptocurrency Traders that are Kicking Your Ass
The 3 Types of Cryptocurrency Traders that are Kicking Your Ass
For an investor to outperform the market, someone else must underperform.That is a simple arithmetic fact. In a fair and regulated environment, investors have equal access to information. Winners and losers are determined by whoever can make a better prediction. But cryptocurrency is the wild, wild west. Market participants don’t play fair and they can profit at the expense of others. Here are the three types of traders that are kicking your ass Insider Traders Under Rule 10b5–1, the SEC defines insider trading as “any securities transaction made when the person behind the trade is aware of nonpublic material information.” Insider trading is illegal in almost all traditional markets. In a research paper published in 2010, Qin Lei found empirical evidence that insiders were able to consistently beat the stock market. Over the last year, we’ve seen many high-profile cases of insider trading in the cryptocurrency market. Coinbase** — The Bitcoin Cash Incident** On December 19, 2017, Coinbase tweeted it would add Bitcoin Cash to its exchange. But before the announcement was made public, both the trading volume and the price of Bitcoin Cash suspiciously surged. On March 1, Coinbase was hit with a class action lawsuit. The full court document is available here. South Korea Financial Supervisory Service (FSS) Even regulators are being investigated for insider trading. Korean FSS officials knew ahead of time that new cryptocurrency trading restrictions would be put in place. Yet, they still made trades before the announcement. The chief of the FSS, Choi Hyung-sik, confirmed on Jan. 18 that trading violations had occurred. Despite being caught red-handed, another FSS official responded that there was technically “no code of ethics or conduct for virtual currencies and therefore difficult to issue any punishment.” The examples mentioned above are just a few high-profile cases. Insider trading runs rampant in the cryptocurrency space. Very often, prices and trading volumes will pump right before an exchange announces a new coin. To many, insider trading is no longer a surprise but rather something that “just happens” in an unregulated market. Whales A whale is simply a colloquial way to describe an investor who is able to manipulate markets by mobilizing large amounts of capital. Most crypto investors treat whales like the boogeyman. They’ve never had a personal encounter, but swear that whales are responsible for large market swings everywhere. In some cases there is strong evidence indicating that they are right. Recently, academic research has come out showing that large-scale price manipulation does happen. Here’s an example from 2013, where a single entity was largely responsible for pushing the price of Bitcoin from $150 to $1,000 in two months. Another paper that came out last week shows how large amounts of USDT was used to manipulate Bitcoin prices. Here are a few techniques whales use to manipulate price. Stop-loss hunting Whales intentionally push the price down in order to trigger stop-loss orders.Then they turn around and buy coins from these stop-loss orders for cheap and wait for the market to recover. This strategy works well for coins with low trading volumes and small order books. With enough coins, whales can push down the price by introducing a slew of market-price sell orders. To show how this works, let’s imagine a scenario:
There is a coin trading at $150
There are 10 BTC of buy orders between $110 and $150
There are 10 BTC of buy orders between $90 and $110
The goal is to drive the price down past $100, which may be a psychological breaking point for some people and therefore a likely place for stop-losses. One can do this by:
Placing a market sell order totaling 10 BTC, to drive the price down from $150 to $110
Keeping the sell pressure on, as investors naturally start selling their holdings.
Watching people’s stop-losses go off at $100 without their knowledge. This drives the price down further.
Buying up all the stop-loss orders at $90 and under.
Waiting for the market to recover before selling the coins.
Short/Long Hunting This is another form of market manipulation, but one that only exchanges can pull off. Let’s see how this works on Bitmex for BTC.
A trader puts up $100 as margin for a 100x leveraged long position of $10,000.
The bankruptcy price is set at $9,900 which is the market price minus the margin.
However, Bitmex forces a liquidation if the price falls to $9,950, just $50 (0.5%) from the initial entry price.
When the market price reaches the liquidation price, Bitmex forces a sell at the bankruptcy price ($9,900).
At liquidation, investors lose their entire margin and pay the high fee at the 100x leveraged rate.
The price just has move slightly in the wrong direction to trigger a liquidation. When liquidations happen, the investor loses their entire margin and pays a big fat fee. Because exchanges know exactly what prices will trigger these liquidations, they have both the capability and financial incentive to engineer price movements using bots. To be clear, there is no evidence implicating Bitmex. But it is suspicious that low volume trading periods are followed by a furious uptick in volume. When this happens, liquidation tears through leveraged positions, leaving traders with nothing other than a fistful of trading fees. BitmexRekt tweets these liquidations in real time. You can follow them here. Spoofing Another common strategy whales use to manipulate the market is called spoofing. It means to bid or offer with intent to cancel before the orders are filled.The goal of spoofing is to send false signals to investors. Here’s an example of using this strategy to profit:
A spoofer places a large buy order right underneath a smaller buy order with the intention of sending a bullish signal to the market.
After filling a few trades, poof, the spoofer cancels the entire buy order.
When the price starts to rise, the spoofer starts to sell his coins.
This also works in the opposite direction. By placing large sell orders, spoofers can send bearish signals and lure investors into selling their cryptocurrencies at a discount. Bitfinex’d investigates an entity known as “Spoofy” operating on the Bitfinex exchange. Wash Trading The last strategy we’ll cover is wash trading. In a wash trade, an investor takes both buy and sell positions. This may be done in order to:
Manipulate prices on markets with small order books
Usually wash trading is extremely hard to prove, as washed trades look very similar to real trades. On July 27, however, Bitfinex unknowingly baited wash traders during the Bitcoin (BTC) fork to Bitcoin Cash (BCH). At the time of the fork, all BTC holders were to receive BCH commensurate with the amount of BTC they held. To accommodate for BTC held in margin positions at the time, Bitfinex had to finesse the numbers. To quote the announcement:
BCH will be distributed to settled bitcoin wallet balances as of the UTC timestamp of the first forking block, which is expected to occur on August 1st, 2017. The token distribution methodology will be:
All BTC wallet balances will receive BCH
Margin longs in BTC/USD and margin shorts in XXX/BTC will not receive BCH
Margin shorts in BTC/USD and margin longs in XXX/BTC will not pay BCH
BTC Lenders will receive BCH
Due to the net amount of BTC committed in margin positions at the time of the fork, the above methodology may result in Bitfinex seeing a surplus or deficit of BCH. As such, we will be resolving this discrepancy in the form of a socialized distribution coefficient. For example, currently, there are more longs than shorts on the platform, causing a distribution coefficient of ~1.091 (Meaning that for each qualifying BTC a user will receive 1.091 BCH). The actual coefficient will be calculated at the moment of the distribution.
These rules turned out to be game-able. Because Bitfinex did not charge BCH to open short positions leading up to the split, one could simply purchase 10 BTC and short 10 BTC. This way, you could collect free BCH without any exposure to BTC price volatility. If BTC drops, the shorts cancel out any loss. If BTC soars, the profits cancel out the short positions. On July 27, there were more longs than shorts on the platform and the distribution coefficient was 1.091. However, on August 1, the distribution coefficient moved to 0.7757. Leading up to the fork, an enormous amount of short positions were created. And instead of prices going down, which is what usually happens when shorts increase so dramatically, prices actually went up. To make matters even more dubious, shorts dropped by 24,000 on a single tick right after the fork. The manipulation here was so obvious that even Bitfinex had to acknowledge it. They issued an official statement about the wash trading here. Pump & Dump Group Executives So we’ve talked about insider traders and whales. The final type of traders we’re going to talk about are the pump & dump group executives. Pump & dump (P&D) is a form of market manipulation that involves purchasing a cheap asset, artificially inflating its price, and then dumping the asset a higher price. The cryptocurrency market is rife with such groups. Here are just a few:
Big Pump Signal (82,184 members)
VIP Signal Strategy (24,138 members)
PumpKing Community (11,124 members)
Crypto4Pumps (13,954 members)
AltTheWay (8,350 members)
Here’s howPump & Dumps work
P&D executives find a coin that is easy to manipulate and easy to sell. I.e. A coin with a strong community, advertising potential, small order book, and low trading volume.
Executives secretly accumulate the coin over time while trying not to affect the price.
These executives spread their pump signals to their inner circle members who pay upwards of $300 for the privilege of hearing early signals.
The first wave of pumpers start shilling on signal groups. They tell gullible investors that a pump is about to happen because of “new website updates”, or “new partnership announcements”, generally whatever angle they can spin.
As the price rises, the P&D executives start dumping their coins.
Once the executives are spent, they spread the signal to their paid members to begin dumping the coin.
The price starts falling and like a game of soggy cookie, the slowest players lose.
Cryptomedication wrote a great piece exposing BravadoGroup and several large influencers in the crypto space planning large scale P&Ds. The reason I single out P&D executives is because they are the only ones that consistently profit. They have the most control and the highest amount of influence.So much so that members are willing to pay $300 for the privilege of being used as pawns. The buyers in signal groups are even worse off. They are falsely led into buying into a promising, undervalued coin, without any knowledge that it will soon be dumped.
So you’re telling me the game is rigged and I’m boned, what should I do?
The simple answer is to stop actively trading.The more you try to time the market, the more you open yourself up to opportunities of getting screwed over. Speculative trading is a zero-sum game. In order for investors to outperform the market, they require others to underperform the market. In an unfair market, the average investor will more likely lose to people who have an unfair advantage and are gaming the market. This is why I genuinely believe the average investor should just index the entire market. If you’re in it for the technology and the long-term growth, why bother speculating at all? Just hold a small piece of the entire cryptocurrency market. Indices has been proven to beat 95% professional traders in equity markets over a 15 year-period. This is why I built HodlBot. It’s an easy way to diversify across the top 20 cryptocurrencies by market cap. It indexes 87% of the entire cryptocurrency market. Every week, your portfolio automatically rebalance so you’re always tracking the top 20 coins. It helps you get some quiet sleep while active traders lie awake, staring at their phones. You can read more about it here. The best thing about a total market index is that it can guarantee market performance. Active trading, on the other hand, cannot. I don’t mean to spread FUD by pointing out all the different ways traders are ripping investors off. I just want investors to know what exactly free and unregulated markets really mean. We’re not protected by the SEC or any other sanctioning bodies. While this comes with unbridled freedom and breathing room for rapid innovation, it also means all foul play is fair play. It’s a brave new world out there filled with all kinds of splendor and danger. If you’re going to take your chances, please make sure you’re prepared.
dcrd: Several steps towards multipeer downloads completed: an optimization to use in-memory block index and a new 1337 chain view. Maintenance: improved test coverage, upgrading dependency management system and preparing for the upcoming Go 1.11 release. dcrwallet: A big change introducing optional privacy-preserving SPV sync mode was merged. In this mode dcrwallet does not download the full blockchain but only gets the "filters", uses them to determine which blocks it needs and fetches them from random nodes on the network. This has on-disk footprint of 300-400 MB and sync time of minutes, compared to ~3.4 GB and sync time of hours for full sync (these are rough estimates).
jy-p: the server side of SPV (in dcrd) was deployed in v1.2.0, the client side of SPV (in dcrwallet) is in our next release, v1.3.0. Still some minor bugs in SPV that are being worked out. There will be an update to add the latest features from BIP 157/158 in the next few months. SPV will be optional in v1.3.0, but it will become the default after we get a proper header commitment for it (#general)
Decrediton: besides regular bugfixes and design improvements, several components are being developed in parallel like SPV mode, Politeia integration and Trezor support. Politeia: testing started on mainnet, thanks to everyone who is participating. A lot of testing, bugfixing and polishing is happening in preparation for full mainnet launch. There are also a few missing features to be added before launch, e.g. capacity to edit a proposal and versioning for that, discussion to remain open once voting starts. Decrediton integration is moving forward, check out this video for a demo and this meta issue for the full checklist. Trezor: Decrediton integration of initial Trezor support is in progress and there is a demo. Android: app design version 2.0 completed. dcrdata: development of several chart visualizations was completed and is awaiting deployment. Specifically, voting agendas and historic charts are merged while ticket pool visualization is in testing. atomicswap: @glendc is seeking reviews of his Ethereum support pull request. Dev activity stats for July: 252 active PRs, 220 master commits, 34,754 added and 12,847 deleted lines spread across 6 repositories. Contributions came from 6-10 developers per repository. (chart)
Network
Hashrate: the month started at 40.5 and ended at 51.6 PH/s, with a low of 33.3 and a new all time high of 68.4 PH/s. F2Pool is leading with 40-45%, followed by the new BeePool at 15-25% and coinmine.pl at 18-23%. Staking: 30-day average ticket price is 92.6 DCR (-2.1). The price started the month at 94.6 and quickly retreated to month's low of 85 until 1,860 tickets were bought within a single period (versus target 720). This pushed the pool of tickets to 41,970 (2.5% above target), which in turn caused 10 price increases in a row to the month's high of 100.4. This was the highest ticket price seen on the new ticket price algorithm which has been in effect since Jul 2017. Second half of the month there was unusually low volatility between 92 and 94 DCR per ticket. Locked DCR held between 3.75 and 3.87 million or 46.6-48.0% of supply (+0.1% from previous peak). Nodes: there are 212 public listening and 216 normal nodes per dcred.eu. Version distribution: 67% on v1.2.0 (+10%), 24% on v1.1.2 (-1%), 7% on v1.1.0 (-7%). Node count data is not perfect but we can see the steady trend of upgrading to v1.2.0. This version of dcrd is notable for serving compact filters. The increased count of such full nodes allows the developers to test SPV client mode in preparations for the upcoming v1.3.0 release.
ASICs
Obelisk posted three updates in July. For the most recent daily updates join their Discord. New miner from iBeLink: DSM7T hashes Blake256 at 7 TH/s or Blake2b at 3.5 TH/s, consumes 2,100 W and costs $3,800, shipping Aug 5-10. There were also speculations about the mysterious Pangolin Whatsminer DCR with the speed of 44 TH/s at 2,200 W and the cost of $3,888, shipping November. If you know more about it please share with us in #pow-mining channel.
emiliomann: stakebrasil is one of the pools with the lowest number of missed and expired tickets. It was one of the first and has a smaller percentage than the most recent ones who haven’t had the time to do so. (...) The Brazilian pool should be the one with the more servers spread around the world: 6 to decrease the latency. This is to explain to you why the [pool fee] rate of 5% (currently around 0.06 DCR) on the reward is also one of the highest. girino: 8 voting wallets now. I just finished setting up a new one yesterday. All of them in different datacenters, 3 in europe, 3 in north america, 1 in brazil and one in asia. We also have 3 more servers, 1 for the front end, one for "stats" and one for dcrdata. (#general)
On the mining side, Luxor started a new set of pool servers inside mainland China, while zpool has enabled Decred mining. StatX announced Decred integration into their live dashboard and public chat. Decred was added to Satowallet with BTC and ETH trading pairs. Caution: do your best to understand the security model before using any wallet software.
Adoption
VotoLegal update:
Marina Silva is the first presidential candidate in Brazil using blockchain to keep all their electoral donations transparent and traceable. VotoLegal uses Decred technology, awesome use case! (reddit)
We continue to see institutional interest in DCR. Large block buyers love the concept of staking as a way to earn additional income and appreciate the stakeholder rights it affords them. Likening a DCR investment to an activist shareholdebondholder gives these institutions some comfort while dipping their toes into a burgeoning new asset class.
Marketing
Targeted advertising reports released for June and July. As usual, reach @timhebel for full versions.
Big news in June: Facebook reversed their policy on banning crypto ads. ICO ads are still banned, but we should be OK. My team filled out the appeal today, so we should hopefully hear something within a few days. (u/timhebel on reddit)
After couple weeks Facebook finally responded to the appeal and the next step is to verify the domain name via DNS. A pack of Stakey Telegram stickers is now available. Have fun!
Events
Attended:
Meetup in Berlin, Germany hosted by BlueYard Capital. @jz_bz and @lftherios discussed open source incentivization, the value of governance and their respective projects @decredproject and @oscoin. See @issedjur's feedback here. (photos: 1, 2, 3)
O'Reilly Open Source Convention in Portland, USA. @raedah's talk was "Decentralizing decision-making on the blockchain". Read his report here and see on the photos how the Big Stakey was entertaining the public. (photos: 1, 2, 3)
oregonisaac: many open source devs at OSCON were VERY interested in Politeia and it was probably the #1 hook that resulted in lots of long conversations about what makes Decred unique from the ground up. (#politeia)
Blockchain Meetup in Faro, Portugal. Marco Peereboom gave a talk "Decred 101" and answered questions.
Upcoming:
Meetup in Lisbon, Portugal on Aug 2. @moo31337 and @mm will be presenting on Decred with talk "Decred 101 - Governance with skin in the game". Co-hosted by The Block Cafe. Free entrance.
Meetup in Taipei, Taiwan on Aug 5. @morphymore will give a short intro on Decred.
OKEx Global Meetup Tour in Ho Chi Minh City, Vietnam on Aug 9. @joshuam will introduce Decred and on-chain governance and take part in a panel discussion.
Morning Coins w/ John & Chas Ep. 16 - Intro to Decred, Bitcoin Tech Analysis (dlive.io)
Community Discussions
Community stats:
Twitter followers 39,418 (-791)
Reddit subscribers 8,512 (+102)
Slack users 5,964 (+134)
GitHub 404 stars (+12) and 977 forks (+59) of dcrd repository
Comm systems update:
We lost around 1k followers after a purge of Twitter accounts.
decred was spam attacked for several days. Generated users submitted a crypto ad 100+ times. Most were blocked by Reddit automatically, some made it through and were removed manually.
It's Too Soon for On-Chain Governance (coindesk.com) discussed on Reddit.
Twitter: Ari Paul debates "There can be only one" aka "highlander argument". Reddit and Forum: how ticket pool size influences average vote time; roadmap concerns; why ticket price was volatile; ideas for using Reddit chat for dcrtrader and alternative chat systems; insette's write-up on Andrew Stone's GROUP proposal for miner-validated tokenization that is superior to current OP_RETURN-based schemes; James Liu's paper to extend atomic swaps to financial derivatives; what happens when all DCR are mined, tail emission and incentives for miners. Chats: why tickets don't have 100% chance to vote; ideas for more straightforward marketing; long-running chat about world economy and failure modes; @brandon's thoughts on tokenizing everything, ICOs, securities, sidechains and more; challenges of staking with Trezor; ideas how to use CryptoSteel wallet with Decred; why exchange can't stake your coins, how staking can increase security, why the function to export seed from wallet is bad idea and why dcrwallet doesn't ever store the seed; ticket voting math; discussion about how GitHub workflow forces to depend on modern web browser and possible alternatives; funding marketing and education in developing markets, vetting contractors based on deliverables, "Decred contractor clearance", continued in #governance. #dex channel continues to attract thinkers and host chats about influence of exchanges, regulation, HFT, lot sizes, liquidity, on-chain vs off-chain swaps, to name a few topics. #governance also keeps growing and hosting high quality conversations.
Markets
In July DCR was trading in USD 56-76 and BTC 0.0072-0.0109 range. A recovery started after a volume boost of up to $10.5 m on Fex around Jul 13, but once Bitcoin headed towards USD ~8,000 DCR declined along with most altcoins. WalletInvestor posted a prediction on dcrtrader. Decred was noticed in top 10 mineable coins on coinmarketcap.com.
Relevant External
One million PCs in China were infected via browser plugins to mine Decred, Siacoin and Digibyte. In a Unchained podcast episode David Vorick shared why ASICs are better than GPUs even if they tend toward mining centralization and also described Obelisk's new Launchpad service. (missed in June issue) Sia project moved to GitLab. The stated reasons are to avoid the risk of depending on centralized service, to avoid vendor lock-in, better continuous integration and testing, better access control and the general direction to support decentralized and open source projects. Luxor explained why PPS pools are better. @nic__carter published slides from his talk "An Overview of Governance in Blockchains" from Zcon0. This article arguing the importance of governance systems dates back to 2007. Bancor wallet was hacked. This reminds us about the fake feeling of decentralizaion, that custody of funds is dangerous and that smart contracts must have minimum complexity and be verifiable. Circle announced official Poloniex mobile apps for iOS and Android. On Jul 27 Circle announced delisting of 9 coins from Poloniex that led to a loss of 23-81% of their value same day. Sad reminder about how much a project can depend on a single centralized exchange. DCR supply and market cap is now correct on onchainfx.com and finally, on coinmarketcap.com. Thanks to @sumiflow, @jz and others doing the tedious work to reach out the various websites.
About This Issue
This is the 4th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here. Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research. Chat links were changed to riot.im from the static web viewer that suffered from UX issues (filed here and here). We will consider changing back to the static viewer once they are resolved because it does not require javascript to read chat logs. In the previous issue we introduced "Featured articles". The judgement is subjective by definition, if you feel unfairness or want to debate the criteria please check this issue. Feedback is appreciated: please comment on Reddit, GitHub or #writers_room. Contributions are also welcome, some areas are adding content, pre-release review or translations to other languages. Credits (Slack names, alphabetical order): bee, Haon and Richard-Red.
Monero GUI 0.12.0.0 "Lithium Luna" Megathread - Download links, instructions for upgrading, guide on how to get started, and guides to resolve common issues (missing a transaction / zero balance, freezing / buggy GUI, transaction stuck as pending, and GUI using all bandwidth) (386 points, 833 comments)
Can we stop being assholes to newbies? (359 points, 94 comments)
With all this Monero "is less untraceable than previously thought" FUD, let's all remember that huge fucking bounty of $$$ for anyone who can trace the origin of one of the devs transactions.. (343 points, 131 comments)
311 points: deleted's comment in Did John McAfee just sell all of his Monero??
255 points: KnifeOfPi2's comment in Monero transactions are about to get 80% cheaper and faster.
237 points: live9free1or1die's comment in Banning privacy coins because of terrorism/drugs/laundering is like banning people from being allowed to have sex in privacy because pedophiles also like privacy.
203 points: fluffyponyza's comment in Botnets are Ruining the Integrity of the Monero Network
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