Mohammed and Fred, two residents in the United Arab Emirates (UAE), are two cryptocurrency ‘noobs’ that invested in late 2017, unaware the rally would fade all too quickly.The Tale of Two UAE Bitcoin InvestorsCryptocurrencies aren’t new. Wikileaks accepts bitcoin donations since 2011, but it only took the world by surprise in 2017 as the surge in news coverage followed the surge in price and market cap, and vice-versa.Enter Mohammed and Fred, two residents in the United Arab Emirates (UAE). Marvelled with the never-ending rally, these two cryptocurrency newbies, like many others alike, joined the club and invested in late 2017.Mohammed, a 30-year old trader from Pakistan, risked $10,000 in December after Chicago’s CME Group launched its Bitcoin futures contract: “I knew that would give the currency respectability and there would be a flood of people buying for fear of missing out. It was a chance to make some money but what I made, I then lost. It was fun but I will never go near that stuff again”, he told UAE-based news agency The National.Mohammed, who declined to give his full name, continued: “I invested $10,000, made 30 percent and sold a week later. Then I put the whole $13,000 in again a few days later.” This time, however, things didn’t work out well. The rally in the Bitcoin price quickly turned into a nightmare for the ‘noob’ as the price started plummeting in January. He took the money out and lost his 30 percent profit.Fred, a 40-year old British communications executive living in Dubai, has a similar story and, like Mohammed, did not reveal his full name. This quest for privacy has been quite frequent as many other crypto investors approached by UAE-based The National refused to discuss their portfolios or did not want to share their full details: “It’s not that I’m ashamed. It’s just that I’d rather keep it as my little investment secret”, said one Abu Dhabi-based Bitcoin investorFred invested $900 in Bitcoin in early November after hesitating to do so about six months ago due to the cryptocurrency’s “poor reputation”. Gradually, he built up his Bitcoin holding to about $4,000, which was worth about a third of its current price.“I was very skeptical about the links with purchasing on the dark web and the lack of security with a central bank. But the more I read up on Bitcoin, blockchain and other cryptocurrencies, I realized it was more likely to have an impact in the future of business and offered a genuine and secure opportunity for peer-to-peer lending without the need for expensive fees or currency transfer rates”, said Fred, 40-year old British communications executive living in Dubai.“When it spiked to $20,000 briefly, I thought about selling. Then it started to crash so I sold some at $15,000, with the profits paying for Christmas, he continued. “It was a bit scary when it went as low as $5,000. There isn’t much history of cryptos to go on, but what there is suggests January usually sees a crash/correction and then a recovery, which is what’s happening now. I bought some more when it rose back to Dh8,000 so I’ve got about a third of a coin.”Fred added: “Bitcoin is not far off returning to a price that will give me a profit again. It isn’t for the faint-hearted but I’ve got a clear figure in mind for its value when I exit. It’s a fun ride, but I’m aware it could all disappear overnight.”Despite the stressful period of the January lows, Fred is still invested in Bitcoin as well as in Ripple, after a tip from his brother-in-law.
On the 27th August, professional blockchain accelerator Block Crafters (Co-CEOs Suyong Park, Hoon Song) completed the selection of company participants for its ‘Block Crafters CHALLENGE X 2 Program’ (“Block Crafters CHALLENGE X 2”), a global acceleration program for Korean blockchain technology convergence startups.
Block Crafters launched the program having been selected for two years straight as an organization running ‘K-Global Accelerator Development’, hosted by the Korean Ministry of Science and ICT (Minister: Kiyoung Choi, “MSIT”) and the National IT Industry Promotion Agency (President: Chang Yeong Kim, “NIPA”). The program is organized by Block Crafters, in cooperation with Honest Ventures (CEOs Seungheum Lee, Seungmin Baek) as a participating organization.
This year, 9 startups from the 4th Industrial Revolution convergence field, including blockchain, were selected as participants. In the venture category 7 companies: Comake, Nine Corporation, Big-After, Opus-M, dsrv labs, Gorilla Bomb, Granora; and in the Early Venture category 2 companies: Proptalkchain, IREVIEW.
Block Crafters will provide accelerating to the selected companies for 20 weeks until the end of November. Companies will receive early investment, professional mentoring, commercialization and technology, investor networking, global expansion, facilities, promotion, etc. customized to each company’s needs. Further, to help the selected startups with global expansion, Block Crafters will hold a demo day and investor networking event in November with speakers invited from Korea and abroad in 4th Industrial Revolution-related fields.
In parallel, participating organization Honest Ventures will provide the participants with professional and extensive advice to attract follow-up investment. Honest Ventures is an early startup investor that provides funding, network expansion, competence building and other support to businesses commercializing 4th Industrial Revolution and other cutting-edge technology such as content, bio, semiconductor or ICT – even if they are on their second attempt. Currently, Honest Ventures participates in the ‘Chuncheon SME Growth Support Fund’, ‘Gyeonggi Second Chance Fund’, ‘Honest Smart City Fund’, ‘Innovation Business Park Fund No. 1’, ‘NEXEED Fund No. 1’ and more.
Suyong Park, Block Crafters Co-CEO, said, “Each of the 9 startups participating in Block Crafters CHALLENGE X 2 is achieving meaningful results in their respective area and I hope they will grow into flag bearers for the 4th Industrial Revolution era”, adding “As an industry-leading accelerator, we will continue to prepare various accelerator programs such as Block Crafters CHALLENGE X 2 going forward, and identify pioneering startups in the blockchain technology convergence area”.
Block Crafters, host of Block Crafters CHALLENGE X 2, is a professional blockchain accelerator founded in May 2018. Immediately following its establishment, the company screened over 500 blockchain projects worldwide and is carrying out acceleration and investment connection for selected projects in diverse fields. The projects currently accelerated by Block Crafters have performed exceptionally, attracting over KRW 10bn in follow-up funding and striking over 40 global partnerships. Further, in May the company attracted strategic investment from private investor Yang-Hyun Cheon, Chairman of Cocone, as well as venture capital (VC) firms DT& Investment and TINVESTMENT, marking a new start for the Block Crafters as a digital asset service provider in the field of finance and investment.
In the year following the launch of digital asset service Haru, the company has seen rapid growth and is continuing to expand its service area. Haru’s user numbers have grown almost 1,000% worldwide this year, showcasing the service’s incredible global presence and popularity. In the same period, user deposits have increased by over 450%, underscoring the great trust and reputation the platform has amongst the crypto community. The company’s performance figures are driven by active demand, as users benefit from competitive interest rates on a variety of deposits and lock-ups offered on the platform. To date, over $30,000,000 has been transacted on the platform, with over 200,000 separate payouts to users – showing that Haru has the scope and infrastructure to scale to record-breaking levels.
Have you noticed the crypto market’s volatility lately? It seems every week there are new opportunities to capitalize on one coin’s surge and another’s decline. However, are you being an active crypto participant and taking full advantage of these opportunities or just sitting quietly by watching your portfolio take a hit? If you think crypto trading is only for seasoned experts, you’re wrong. Crypto loans are a fantastic tool to step foot into the profitable world of crypto trading and here’s how.
Use crypto loans to buy the dip and profit later
Take a look at this Ethereum/USD (ETH) chart. On September 2nd, ETH took a colossal fall from $475 to $335 dollars. Since then, it’s rallied over 10% to 368. Now, if you are simple HODLing ETH, your portfolio took a hit and is starting to recover. While that’s nice, you are not using the full potential of your crypto. That’s where crypto loans come in.
Using your ETH as collateral, you can receive an instant cash loan. Then, while the market is in the red, you use those funds to buy more ETH. Later, when the recovery starts and ETH starts increasing, you profit from that deal and also offset some of your losses from the previous dip.
There are several platforms that can help you do this but nto all are created equal. FinTech platform YouHodler has the best mix of value, innovation and efficiency to help you climb the ranks of the crypto world.
7 reasons why crypto loans on YouHodler are the best
To get an instant crypto loan with the best value and features, YouHodler is by far the top platform on the market for the following reasons.
- Industry best loan to value ratio (LTV) of 90%
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- Receive a loan in USD, EUR, CHF, GBP, BTC and stablecoins
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Other creative ways to use crypto loans on YouHodler
Besides their classic crypto loans, users can profit from market volatility in either direction with YouHodler’s original Multi HODL tool. Powered by their innovative crypto lending engine, Multi HODL helps users buy more crypto or sell more crypto depending on which way the market is going.
Users simply choose the source, the amount, how much they want to multiply their crypto, and the direction they think the market will go in (up or down). In addition, users can set their own Take Profit and Margin Call levels to make sure they exit the market precisely at the right time without having to watch the charts 24/7.
So next time the market takes a dip, don’t just sit there passively waiting for it to go up again. Activate your crypto and make it work for you with the power of crypto loans.
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INX Limited today announced it has raised over USD 7.5M in its initial public offering, exceeding the minimum requirement for the offering. The Company also starts accepting payments in Bitcoin (BTC), Ether (ETH) and USD Coin (USDC) at 10am EDT on Monday, September 14th, 2020.
INX has launched the first-ever SEC-registered security token IPO aiming to raise up to $117 million from both retail and institutional investors. INX intends to use the net proceeds raised from the sale of INX Tokens for a launch of a regulated trading platform for digital assets including cryptocurrencies, security tokens, and their derivatives, for the establishment of a cash reserve fund, and for the continued development and operation of INX Trading Solutions, .
INX has set the offering price at $0.90 per Token with a minimum investment of $1,000. BTC/USD, ETH/USD and USDC/USD exchange rates will be determined in the manner as disclosed in the final prospectus. More information can be found in the final prospectus and at https://token.inx.co/.
A registration statement relating to the offering of these securities was declared effective by the SEC on August 20, 2020. Copies of the registration statement can be accessed by visiting the SEC website at www.sec.gov. The offering is being made only by means of a prospectus. A final prospectus describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement.
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The major players have already successfully cemented their positions in the cryptocurrency market. As a consequence, new platforms appear much less frequently than they did five years ago. And this is precisely why much more attention is now paid to new entrants to the market. One of the newest and most up-and-coming players in the cryptocurrency market is StormGain. Today, we are going to take a closer look at this platform’s features.
An introduction to the StormGain cryptocurrency platform
StormGain started operations in 2019. The target market for this cryptocurrency platform consists of both beginners and experienced cryptotraders – cryptocurrency enthusiasts who need to be able to quickly and efficiently convert their digital money. Among these, there are also cryptocurrency investors looking to earn a stable income.
StormGain users are able to choose from a large selection of trading instruments. These include both in-demand crypto instruments, such as Bitcoin, Ethereum and the like, as well as less popular options like Tron, Bitcoin Gold, etc.
Even though the platform is relatively new to the market, it has already made a good reputation for itself. The traders who use it often compare it to services like Kraken and Huobi Binance. In addition, StormGain is also the official sponsor of one of the English Premier League’s leading clubs – Newcastle United, which is a significant factor for earning the trust of users and potential clients.
The registration process has been made as simple as possible when compared to many other platforms. To register, all you need is an email address and phone number. The user then enters any other necessary details via their personal account.
The registration process is similar to those of other cryptocurrency providers:
- First you go to the “Registration” tab.
- Finally, you must confirm the email address you provided at registration (required for the deposit/withdrawal of funds).
Once you’ve done that, you will then be able to use all the features of the cryptocurrency platform.
Deposit and withdrawal of funds
As already mentioned, the platform only supports cryptocurrencies, which facilitates easy wallet deposits and withdrawals.
If you have used other wallets to store cryptocurrency in the past and still have coins left in them, all you need to do is perform a simple inter-wallet transfer to fund your StormGain account with any of the cryptocurrencies supported by the platform. It’s worth noting that the main cryptocurrency used on this platform is Tether. This means that all payments will be carried out using this currency.
StormGain charges no commission on deposits made in cryptocurrency. That said, there are minimum deposit amounts in place (for example, for Tether this is 50 USDT and for Bitcoin it is 0.005 BTC).
The second option for depositing funds to your wallet involves the use of third-party services enabling the exchange of fiat money for cryptocurrencies. To use this method, you’ll need a StormGain wallet address.
The developers of the StormGain platform took great care to make it as easy as possible to add funds to your account and have even provided the option of depositing funds directly to your wallet via your debit/credit card. To do this, all you need to do is select the desired cryptocurrency and the corresponding payment method from the list. However, you should be aware of the following restrictions:
- the maximum deposit amount is USD $20,000;
- a commission of 5% of the deposit amount (but not less than USD $10) will be charged.
Although StormGain charges a debit/credit card deposit fee, this method eliminates the need to use third-party services. All transactions take place within the StormGain trading platform and are conducted automatically over encrypted connections. As a result, transaction speeds are much faster and your funds are much better protected.
Withdrawals are also processed very quickly. If you are going to withdraw funds to a cryptocurrency wallet, then all you have to do is select the cryptocurrency you need and enter the wallet address. Commission on crypto transactions is fixed at 0.1%, regardless of the currency you are withdrawing.
StormGain offers much higher leverage than most other platforms. This is one of the key advantages StormGain has over other trading platforms and we will talk more about it in this section.
StormGain offers trading in all the most popular cryptocurrencies, including Bitcoin, Tether, IOTA, Bitcoin Cash, Monero and many more besides. In total, around 30 cryptocurrencies are available to trade on the platform, which is enough to satisfy the needs of the majority of cryptocurrency users.
Cryptomarket analysis tools
The platform provides more than 40 indicators to assist with technical analysis. These include ready-made graphic patterns and profit/risk calculators.
Particular attention should be paid to the traders’ sentiment indicator, as it has a great influence on any strategy modifications. This gives StormGain a huge advantage over other cryptocurrency platforms since the provision of such an indicator is rare. It helps users identify the prevailing trend and make decisions about future trading operations.
StormGain offers four main types of orders. The first is the Market Order, which is the default option and corresponds to real-time trades. The second type is known as a Limit Order. It involves buying or selling assets when their price reaches a certain level. In addition to these, StormGain also supports Stop Loss and Take Profit orders, which are used respectively to limit losses or lock in profits before its too late.
The multiplier is one of the StormGain trading platform’s core selling points. It is no secret that many platforms allow cryptotraders to risk more funds than they have available on their account. For the purposes of comparison, the world-famous cryptocurrency platform Binance allows users to trade with leverage of 1:5. The same amount of leverage is also available on Huobi. Meanwhile, a platform as popular as Cex.io only allows leveraged trading up to 1:3. StormGain, on the other hand, offers multipliers up to 1:200. This is much higher than the amount offered by other platforms.
This multiplier allows you to benefit more from less intense price movement, even if your starting capital is very small. Nonetheless, it is worth remembering that using a multiplier also increases your risk when trading.
StormGain provides a lot of bonuses and special features for its users. It was precisely these bonuses and features that enabled the platform to quickly gain in popularity and build trust among cryptocurrency traders.
Extended loyalty programme
The StormGain platform provides its users with some of the best trading terms around. The company offers several different loyalty levels, each with its own unique set of bonuses.
As you can see, your individual account type can greatly improve the terms you receive as a trader on the platform. The higher your account status, the more bonuses you will be eligible for. These might include, for example, an increased bonus for account deposits or a discount on trading commission.
How to qualify for a given status
Each user is automatically assigned a certain status depending on their account balance or monthly trading volume. In other words, the more active you are, the higher your status. Likewise, if your activity drops over the course of a given month, your status will also drop.
StormGain has its very own trading platform, which is also available for Android and iOS. This means that you can always keep abreast of any developments on the cryptocurrency market and carry out transactions from almost any device, anywhere. As the cryptocurrency market is open for trading 24/7 (including weekends and public holidays), this allows users to quickly respond to market events as and when they take place.
The platform provides plenty of great opportunities to help you prepare for your first real trade. If you take look in your account, you will find video tutorials that deal with everything from the ins and outs of trading with StormGain to basic trading skills. These lessons will be very useful both for newbies at the beginning of their cryptotrading journeys and experienced traders looking to refresh their knowledge.
What’s more, the StormGain trading platform also allows users to practice making trades on a free demo account. The demo account gives everyone the opportunity to try their hand at trading without the need to risk their own funds.
It’s important to note that the demo account is available for use at any time. Therefore, even if you are already well-versed in trading, you can always switch from your real account to a demo account in order to test out new strategies.
Security has always been a very important element of any online service. But when it’s also client funds and not just user data that is at stake, then any platform for trading cryptocurrency must provide the highest level of protection. What kind of protection is offered by StormGain?
First off, it provides the ability to create a “cold wallet”. This is one of the unique features of the StormGain trading platform. On most platforms which deal with a large number of different cryptocurrencies, there are no “cold wallets”. This type of wallet exists offline and is immune from any malicious intruders.
The second key feature is the ability to activate two-factor authentication using Google Authenticator. The StormGain team strongly recommends connecting 2FA so that your account is protected even in case of the loss of login data.
The StormGain platform is trusted by users worldwide. The partnership with Newcastle United football club plays an important role in this. In addition, the platform is a member of the Blockchain Association which itself operates under under the auspices of the Financial Commission.
The level of customer support can make a platform the best in the world or make its users hate it. For cryptocurrency platforms, the customer service element is no less important than that of making the service secure.
StormGain offers customer support via:
- online chat;
In other words, all the ways of communication with the project team have been thought out. Depending on your problem and preferences, you can choose any method and quickly find a solution.
The StormGain cryptocurrency platform is a fairly young project. Nevertheless, in just over a year and a half of its existence, it has been able to earn the trust of its users and demonstrate excellent quality of services.
One of the platform’s “disadvantages” is that the minimum deposit amount is quite high. But given the extensive functionality, the presence of a loyalty and training program, the high level of security and other positive aspects offered by the StormGain trading platform, it can be argued that this platform has high potential. StormGain directly competed with the established leaders in the cryptocurrency trading platform market and is a great choice for both beginners and experienced traders.
On September 5, 2020, at the Global Blockchain and Crypto Finance Summit, Johnny Lyu, KuCoin Global CEO, announced in his keynote speech that the 3rd anniversary celebration of KuCoin officially started. During the 3rd anniversary celebration, KuCoin will launch a series of campaigns with very exciting prizes, including a Porsche 911, iPhone, KuCoin merchandise, token rewards and more!
In addition, KuCoin’s 8th Spotlight project, the Velo Protocol, will be launched during the 3rd anniversary celebration. Velo is an open financial protocol that aims to build a decentralized settlement network that allows partners to safely and securely transfer value between each other in a timely and transparent way. Supported by dozens of leading Asian corporate groups, like Lightnet, UOB Ventures, Seven Bank, and HashKey Capital, Velo is expected to become the first blockchain project that brings DeFi to the masses. This Spotlight token sale will be taken in a lottery format. Users can obtain tickets in various ways, including holding KCS and participating in Kratos (KTS) Lockdrop and 3rd anniversary campaigns. The lottery results will be announced on September 15.
Additionally, the KuChain testnet Kratos (KTS) will conduct its initial token distribution during the 3rd anniversary celebration. KuChain and Kratos are public chains that are oriented to the needs in the DeFi field, and they provide even more stable underlying environments for decentralized applications, including DeFi and DEX. KTS token distribution will be conducted with LockDrop. For more information about the KTS, please stay tuned to KuCoin official announcement.
Johnny Lyu, KuCoin Global CEO, stated: “The 3rd anniversary is a major milestone for KuCoin. We have grown from a 7-person team into a global enterprise that employs over 300. From serving a few countries in Asia, we now have 6 million users in 207 countries and regions all around the world.
This 3rd anniversary is also a new beginning for KuCoin. We have always been committed to becoming the most trusted fin-tech brand in the world, providing all users equal opportunities to participate in crypto financial activities. The mass adoption of blockchain and cryptocurrency still has a long path to travel. As The People’s Exchange, we will continue to provide users with better products through technological innovations.”
From a crypto-to-crypto trading platform, KuCoin has gradually enriched its product line and successfully launched Spotlight, KuCoin Futures, Pool-X, KuChain, and more. Up until now, KuCoin has achieved $80 billion in accumulated trading volume and proceeded with 670 million transactions.
In addition, KuCoin has always been known for being adept at discovering “hidden gems” in the crypto world. It has listed more than 250 high-quality blockchain projects, supporting about 450 trading pairs. Looking at the recent popularity of DeFi, KuCoin has supported popular DeFi projects like AMPL, AKRO, DIA, and COMP in the very early stage. Meanwhile, KuCoin has also launched its own DeFi Trading Board to lower the barriers for users to invest in DeFi.
KuCoin’s steady development has also been recognized by the capital market. In November 2018, KuCoin completed a $20 million Series A financing from IDG Capital and Matrix Partners. These funds will also help KuCoin continue improving its platform stability, safety, and ease of use, culminating in greater value for its users.