Hungry4BTC

Cryptocurrency: Trading, Projects, and News

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How are Bitcoin Derivatives Changing the Crypto Market?

The cryptocurrency market is ever-changing with new instruments and ways to profit continually being created and introduced.

While there are plenty of traders that may have heard of terms like cryptocurrency derivatives and bitcoin derivatives, there are still many who do not fully understand exactly what these instruments are and why they can substantially improve the way that training is conducted.

We’re going to take a look at this relatively new type of financial tool, including exactly what cryptocurrency derivatives are, as well as the best places online to buy and sell them.

What are Bitcoin Derivatives Exactly?

Bitcoin derivatives are simply an agreement between parties to trade an amount of Bitcoin at a given date and for a set price.

There are three main types of bitcoin derivatives being Bitcoin futures, Bitcoin options, and Bitcoin perpetual swaps.

Bitcoin futures are a standard kind of Bitcoin derivative, being that they fit the description above and are required to be completed once the given date is reached.

Bitcoin options are almost the same as Bitcoin futures, other than the fact that they are optionally able to be completed instead of being required to do so.

Bitcoin perpetual swaps are also very similar to Bitcoin futures except for the fact that they are settled in USD instead of being settled in Bitcoin.

Traders often get involved with buying and selling Bitcoin derivatives instead of buying Bitcoin as the underlying asset for a number of reasons, but perhaps the main reason being the reduction in regulatory and legal requirements that are included whenever a trader actually buys Bitcoin itself.

Where are the Best Bitcoin Derivatives Trading Platforms

PrimeXBT

PrimeXBT is one of the world's leading cryptocurrency derivatives trading platforms, and lists a wide range of cryptoassets as well as traditional assets.

Traders can get leverage on a range of cryptoassets that include Bitcoin, Ethereum, Ripple, Litecoin, and EOS, with leverage of up to 100X, on a wide range of traditional assets that include some of the world's leading stock indices, metals, forex pairs, and commodities, with leverage of up to 1000X.

Unlike a number of other platforms that have suffered large scale hacks of sometimes hundreds of millions of dollars, PrimeXBT prioritizes the security of their users’ funds with bank-grade security features, and as a result have never been hacked and have never been breached by any hackers or other party.

Also unlike a number of other platforms which can be up to 10 times more expensive than PrimeXBT, the fees at this platform are kept at a low flat rate of 0.05%, and this is applied across all assets on the platform, whether a large amount or small amount of an asset is traded.

KuCoin

KuCoin is a cryptocurrency derivatives specialized platform that has launched in the past few years and has gained a fair amount of the market share involving Bitcoin derivatives.

KuCoin is not a complicated platform to use, and is quite suitable for new users, however the features on the platform are somewhat limited in comparison to other cryptocurrency derivatives trading platforms available.

As well as this to the relatively low liquidity of KuCoin is concerning to some users being that slippage can often be a major problem as a result of this.

Saying this, KuCoin does list a fairly wide range of derivatives on the platform and is worth consideration for anybody that is interested in this specific kind of financial instrument.

In Conclusion

As the cryptocurrency market expands in size and diversifies, new ways to trade are becoming more prominent and are now responsible for a much larger amount of the daily global cryptocurrency trade volume.

Bitcoin derivatives are useful for those traders that would like to limit their regulatory responsibilities regarding owning cryptocurrencies, involving areas such as the legality of cryptocurrency ownership, as well as taxation.

PrimeXBT and KuCoin are two platforms of many that list these kinds of assets, however these two platforms represent the top-tier of cryptocurrency derivatives trading platforms available online today.

[hungry4btc]

Best Affiliate CPA Crypto

CPA affiliate programs (Click-Per-Acquisition) are not a common form of referral rewards in the crypto world. 9 times out of 10, affiliate partners are paid a percentage of the trading fees generated from the clients they refer to a crypto trading platform or crypto business website.  

Yet, some are now providing crypto affiliates with an option, as is common with traditional forex trading platforms.  Although the list is short, the programs are generous and the best affiliate CPA crypto programs are unsurprisingly some of the fastest-growing names in the crypto trading market.

Namely, PrimeXBT which already offers one of the most rewarding crypto referral programs has increased its original revenue share referral program rewards and additionally introduced a new CPA offer (paying up to $1,000 per converting client), and a CPA + revenue share offer. See image below for more details:

(see more at https://primexbt.com/affiliates)

The original referral program uniquely offers 4 levels of payouts for sub-affiliates, paying affiliates 50% (recently increased from 20%) of their direct referrals trading fees, 15% for level 2, 10% level 3, and 5% for level 4 + all ongoing referral rewards are paid for life. 

What’s more . . .

Since PrimeXBT offers leverage of 100x, the client can make a trade worth $100,000 using a $1,000 deposit. The client then pays 0.05% or $50 in trading fees and the affiliate will get 50% of that fee, equal to $25. This is 25X more than a traditional exchange - making PrimeXBT the clear winner as far as the best affiliate CPA crypto offer.

[hungry4btc]

The Best Bitcoin Trading Platforms in 2020

Bitcoin trading is set to explode again in 2020, so let’s cut through the rubbish and get straight to the chase in identifying the crypto best Bitcoin exchanges to take advantage of the highly anticipated crypto gold rush.

1. PrimeXBT

Why: 

PrimeXBT arguably provides the most advantageous environment for making BIG profits within a safe and reliable trading platform.  It is the only place where traders can access up to 100x leverage on 9 major crypto-asset pairs, alongside traditional financial instruments in FX, commodities, etc., and a co-investing fund management module - all of which is also available on the iOS and Android apps.  

Not to mention, PrimeXBT requires some of the lowest fees offered by any Bitcoin trading platform, a highly customizable and user-friendly interface (suitable for both novice and pro traders), and ultra-high liquidity aggregated from a dozen top providers in real-time. There’s a lot to love at PrimeXBT which explains why it has quickly become one of the most popular trading destinations leading into in 2020.

2. Binance

Why:

Any “Top” list wouldn’t be complete without a mention of Binance. It is one of the best all-rounder exchanges, featuring extremely high Bitcoin liquidity, a wide selection of crypto-assets, and competitively low fees. Furthermore, Binance has its own native BNB coin which further reduces fees by using it within the platform and can also be actively traded. 

The China-based exchange is consistently exploring new avenues and expanding its global reach, for instance, with the token launchpad, and the soon to launch Binance U.S exchange.

3. KuCoin

Why:

KuCoin is well-known for offering a wide array of some of the more obscure altcoins  The innovative crypto exchange has built a solid reputation over the last few years for providing a cutting-edge, modern trading platform. Although, novice traders may find the interface intimidating consequently.  KuCoin’s fees are also competitively low, just behind Binance and PrimeXBT. 

Conclusion

One thing that all three of these top Bitcoin trading platforms share in common, is their simple and streamlined account setup which does NOT require a KYC verification. As cryptocurrency regulations tighten up around the world, the fact that these first-class exchanges allow traders access without having to jump through hoops will likely see them extend their lead as the best Bitcoin trading platforms in 2020.

[hungry4btc]

Is Bitcoin Entering The Slope Of Enlightenment?

Looking at clues from consumer insights data, and the recent price action in Bitcoin, it’s clear that the public’s interest in cryptocurrency is getting some wind back in its sails. But where do we currently stand in the hype cycle for crypto?

[hungry4btc]

“BitMEX REKT” - an Act of Deliberate Insider Manipulation?

If you are tuned in to the crypto world, no doubt you’ve have heard the expression “Bitmex Rekt”.  There is even a Twitter page and hashtag which was created by the crypto community to publicly acknowledge the all-too-common occurrence. 

Ultimately, getting ‘rekt’ it’s when a trader's position is liquidated when they lose in a trade. On Bitmex however, getting rekt can more often than not be attributed to the trading platform’s connectivity issues or server problems which cause orders to be inaccurately executed. 

Although, traders have long been questioning how legitimate these ‘issues’ really are and whether it is Bitmex’s way of capitalizing on their trader’s losses. This widespread suspicion has been backed up with a scrupulous investigation by the CFTC, which is looking into the claims that Bitmex is trading against its clients as well as a number of other alleged criminal activities.  

Last month in July, Bitmex hit record outflows exceeding $500M amid the CFTC probe. In the same period of time Bitmex’s competitor margin trading platform, PrimeXBT, has reportedly grown exponentially as traders search for a safe and reliable trading environment, yet with the same possibility to trade with 100x leverage.  

It’s clear that all but the most loyal Bitmex clients have lost trust and are in fear of losing their funds, from either A. it being robbed of them by insider trading, or B. by the CFTC which has the authority to instantly freeze the platform and all assets at any point in time.

[hungry4btc]

Bitcoin Trades Sideways as Major Altcoins Enjoy Sizeable Gains

Bitcoin prices are staying largely flat, but many major altcoins have enjoyed healthy gains over the past 24 hours.

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Bitcoin Price Drops on the Day as Altcoins Send Mixed Messages

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Bitcoin Price Drops on the Day as Altcoins Send Mixed Messages

Bitcoin price stumbles while altcoins report mixed, mostly red activity, with Cardano currently winning the day among top 20 coins.

Saturday, Aug. 10 — the top 20 cryptocurrencies are reporting largely reddish movement on the day, as Bitcoin (BTC) price saw a sudden dip earlier today.

Market visualization courtesy of Coin360

Bitcoin’s price is currently down 4.62% on the day, trading at around $11,370 at press time, according to Coin360 after slipping from around $11,800 to $11,400 in a matter of minutes between 7:30 AM and 7:45 AM Coordinated Universal Time. Looking at its weekly chart, BTC is up by about 5.5%.

Bitcoin 7-day price chart. Source: Coin360

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $21.9 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $12.45 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 2.63% over the last 24 hours. At press time, ETH is trading at around $206. On the week, the coin has dropped about 6.82% of its value. 

Ether 7-day price chart. Source: Coin360

XRP is down by 2.18% over the last 24 hours and is currently trading at around $0.296. On the week, the coin is down by roughly 5.62% as of press time.

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, Cardano (ADA) and Chainlink (LINK) are reporting the most notable gains on the day, at 10.46% and 5.46%, respectively. 

While Tezos (XTZ) experienced a price surge earlier this week following Coinbase’s announcement of support for the coin, XTZ is down by just over 5% on the day as of press time, the largest loss among top 20 cryptocurrencies. 

The current total market capitalization of all cryptocurrencies stands at $294.2 billion, about 1.2% higher than reported a week ago.

Keep track of top crypto markets in real time here

Source cointelegraph

[hungry4btc]

Bitmex Just Had its Worst Month Ever by One Key Metric

Since news of the CFTC’s investigation into Bitmex last month in July, the exchange suspected of foul play and insider trading has suffered a net outflow of nearly $525M in Bitcoin (source: TokenAnalyst). 

Bitmex was the first Bitcoin trading platform to offer as much as 100x leverage, which lead to its immense success. But now, it seems this investigation has brought to light what many have suspected and publicly criticized the trading platform for a number of months now: manipulating their trading desk and weaponizing ‘connectivity issues’ which cause traders to be liquidated and get ‘rekt’.

The ‘Bitmexodus’ (as some are cleverly calling it) has further been confirmed by representatives from the bitcoin margin trading platform’s direct competitor, PrimeXBT, which has seen an influx of new registrations since Bitmex’s investigation commenced. Evidently, the troubled exchange’s ex-clients are in search of a safe alternative that offers the same possibility to trade with up to 100x leverage. 

Clearly, the future of Bitmex is uncertain at this point and with the CFTC’s power to freeze the platform and all assets it seems that all but the most loyal Bitmex traders are taking precautions and withdrawing their funds from the seemingly sinking ship.

[bitnewslive]

Top-5 Crypto Performers: XTZ, LINK, BTC, BCH, XMR

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Top-5 Crypto Performers: XTZ, LINK, BTC, BCH, XMR

A few of the top five performers of the past week are showing strength. What is a good level to buy? Let’s look at the charts.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Binance research highlights that Bitcoin (BTC) has rallied along with other assets that are considered safe-havens following the latest tariff tweet by United States Pres. Donald Trump. This shows that Bitcoin is gaining acceptance as a safe haven and a hedge against geopolitical issues and monetary easing by central banks. 

In a letter to investors, Bitwise said that all the attention garnered by Facebook’s Libra project has fast-forwarded the public discourse on cryptocurrencies by two or three years. While not all the attention is positive, the firm believes that the involvement of regulators will give confidence to investors, which will be positive in the long term.

After Libra, now Walmart wants to develop its own U.S. dollar-backed digital currency. While these projects are likely to face stiff opposition from regulators, we believe that they will bring cryptocurrencies into a greater limelight, which is positive.

XTZ/USD

Tezos (XTZ) is the best performer of the past seven days with a massive jump of over 40%. It shot up after Coinbase announced that it will onboard the cryptocurrency on its professional trading platform, Coinbase Pro. The four-stage process will start with inbound XTZ transfers on August 5. Huobi Wallet tweeted that it will be a Tezos baker and support XTZ in the near future. Blockchain development company Truffle announced that it will add support for the Tezos blockchain protocol in its developer suit. These favorable fundamental news helped the digital currency rake up strong gains. However, can this continue or will the rally peter out after the news-based rally? Let’s analyze the charts.

The XTZ/USD pair has formed a cup and handle reversal pattern, which will complete on a breakout and close (UTC time frame) above $1.85. Following the breakout, the target objective is $3.37 and above it $4.20. The moving averages have completed a bullish crossover and the RSI has jumped into positive territory, which suggests that bulls are back in the game.

However, the failure of bulls to close the week near the highest point shows profit booking at higher levels. If the price fails to break out of $1.85, the reversal pattern will not come into play and a few weeks of consolidation between $0.83 and $1.85 are possible.

Traders can buy on a close (UTC time frame) above $1.85 and keep a stop loss of $0.82. Until then, it is better to remain on the sidelines.

LINK/USD

Unlike other major cryptocurrencies, Chainlink (LINK) has been volatile and has been finding a place either among the top losers or the top gainers for the past few weeks. This week, it has again found a place as a top gainer. Oracle announced a partnership with Chainlink, which is a big boost for the project. In other news, Callisto Network announced integration of Chainlink Oracles and Zilliqa tied up with Chainlink to power its smart contracts. While the fundamental news flow has been positive, let’s see what the chart projects.

The LINK/USD pair has found support at the 61.8% Fibonacci retracement levels of $2.0175 for three successive weeks. This makes it an important level to watch on the downside.

On the upside, bulls might face resistance at $2.8498, above which, the pair is likely to pick up momentum and rally towards the lifetime high. Therefore, traders can wait for the price to scale and close (UTC time frame) above $2.8498 before attempting long positions. 

If bulls fail to propel the price above $2.8498, the pair might remain range-bound for a few weeks. Our bullish view will be negated if bears sink and sustain the digital currency below $2.0175. 

BTC/USD

Bitcoin (BTC) has gained in double digits in the past seven days. The past week saw a flare-up of trade war between China and the U.S. and a rate cut by the U.S. Federal Reserve. Peter Tchir, former Executive Director at Deutsche Bank, said that Bitcoin acts as a lead indicator to hidden geopolitical tensions. 

Fundstrat Global Advisors co-founder Tom Lee and a report by research firm Delphi Digital said that dovish policies of central banks will be bullish for the leading cryptocurrency. On the news that central banks have been buying a record quantity of gold, Anthony Pompliano said that central banks will start hedging their assets with Bitcoin if they “find out about the non-correlated, asymmetric upside profile of Bitcoin.” 

Can Bitcoin extend its rally in the next few weeks? Let’s find out.

In strong uptrends, the pullbacks are usually arrested at the 38.2% Fibonacci retracement level of the entire rally. The BTC/USD pair found support between the 38.2% and 50% retracement levels, which is a positive sign. Both moving averages are sloping up and the RSI is in positive territory. This suggests that bulls are firmly in command.

The up-move might face some resistance at the downtrend line, above which, the pair can retest the recent highs of $13,973.50. This level might see some profit-booking, but once crossed, we expect buyers to pile in and push the price toward $17,208.84. 

Our bullish view will be invalidated if the price turns down from the downtrend line and plummets below $9,080. That will indicate selling at higher levels and might catch the bulls off guard.

BCH/USD

Bitcoin Cash (BCH) celebrated its second birthday on Aug. 1 and ended up as the fourth-best performer of the week. Can the rally continue?

The BCH/USD pair is rising inside an ascending channel. It remains in an uptrend as long as it stays inside the channel. The bulls will now try to push the price towards the resistance line of the channel. A breakout of the channel will result in a sharp upward move. The traders can initiate positions as suggested in our earlier analysis.

Contrary to our assumption, if the pair turns down and plummets below the channel, it can plummet to $227.70 and below it to $166.25. Both moving averages have flattened out and the RSI is close to the midpoint, which points to a probable consolidation for a few weeks.

XMR/USD

Monero (XMR) rounded up the list with gains of just over 8%. Can the cryptocurrency extend its gains in the coming weeks? Let’s have a look at its chart.

The bears broke below the support at $81.4151 in the past week, but could not capitalize on the breakdown. The XMR/USD pair has quickly bounced back above the level, which shows demand at lower levels. Both moving averages have flattened out and the RSI is just above 50, which points to a range-bound action for a few weeks.

If the price breaks out of $90.4999, it can rally to $107 and above it to $120. The traders can buy if the price closes (UTC time frame) above $90.4999 for a day and keep a stop loss of $71. The stops can be raised to breakeven as the pair reaches $107.

Contrary to our expectation, if the cryptocurrency reverses direction and plunges below $71, it will be a negative sign. Such a move can drag it lower to $60.

Market data is provided by the HitBTC exchange.

Source cointelegraph

[hungry4btc]

Bitcoin Trading Strategy with 80% Success Rate in Volatile Market Conditions

Rob Graham is one of the top pro traders who’s smashing it in the Bitcoin market today. The good news is, he is sharing his trading strategy with his followers for free. 

The technique, with a proven 80% success rate, has been thoroughly tried and tested at Graham’s own peril, claiming that he endured many losses before he figured out the winning Bitcoin strategy.

Rather than focusing on one-off big wins, the technique is focused on bringing a steady income by responding to considerably reliable RSI markers which indicate the turn of the market and using its volatility to your advantage. 

In Graham’s words, Bitcoin’s daily swings of at least 0.3% make the RSI indicator “work like a swiss watch”.  The technique suggests that when the RSI (relative strength index) reaches a certain high and a certain low it is time to place an order in the opposing direction, i.e. long or short.  Then to set a take profit limit at a modest 0.3% in the anticipated direction (above/below) the entry point of the trade. 

To do this requires a margin trading platform, to which Graham bases the strategy exclusively upon PrimeXBT, due to it providing the specific TA tools and leverage allowance that is required.

The strategy itself is actually really simple and Graham walks through the entire process step-by-step, even covering risk management strategies at the end also. 

Here is the free guide if you’d like to know the details: https://drive.google.com/file/d/1j7pzvqqTCIf0RDT818a4MlOcOuUwW9AG/view

You can check him out on Twitter and Linkedin. 

Furthermore, due to the high trading volumes on his account he has negotiated an exclusive offer with PrimeXBT which grants him 50% off trading fees for him and all of his referrals, just follow the prompts on his website. 

For more information about PrimeXBT, visit https://primexbt.com. Or you can follow PRIME XBT on Facebook and Twitter.

[bitnewslive]

Steve Bannon: Crypto to Become Part of ‘Global Populist Revolt’

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Steve Bannon: Crypto to Become Part of ‘Global Populist Revolt’

Steve Bannon: Crypto to Become Part of ‘Global Populist Revolt’

Stephen Bannon, co-founder of Breitbart News and former Chief Strategist for U.S. President Donald Trump’s administration, expressed his admiration for (BTC), seeing it as part of a “global populist revolt,” in an interview with CNBC’s Squawk Box on Aug. 2.

Bannon argued that the leading digital currency Bitcoin could be a very important part in “this global populist revolt,” with cryptocurrencies having a big future.

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source Investing.com

[bitnewslive]

CFTC’s Fintech Chief Is Leaving the Agency

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CFTC’s Fintech Chief Is Leaving the Agency

The director of the U.S. Commodity Futures Trading Commission’s (CFTC) experimental fintech initiative will step down.

According to a statement released Friday, LabCFTC’s director and chief innovation officer, Daniel Gorfine, will leave his post to pursue a job in the private sector. In his two years with the agency, Gorfine spearheaded the LabCFTC project, released educational materials on virtual currencies and launched an accelerator program to trial internal blockchain applications.

The educational primers published by LabCFTC discussed the history, characteristics, case studies and potential use-cases of blockchain and smart-contract technology, rather than set official policy. For instance, in its second primer on smart contracts, the agency said if properly deployed the protocols could reduce costs while boosting accountability and transparency.

Launched in May 2017, LabCFTC aims to help regulatory policy keep pace with a rapidly changing industry.

At a July 2018 hearing before Congress, Gorfine urged lawmakers to “not steer or impede the development of this area of innovation.”

Gorfine also forged collaborative arrangements and shared policy between the CFTC, UK Financial Conduct Authority, Australian Securities and Investments Commission and the Monetary Authority of Singapore, according to Friday’s CFTC statement.

CFTC Chairman Heath P. Tarbert said in the statement:

“With Dan’s vision and the support of the Commission, LabCFTC has established itself as a model for regulatory engagement with emerging technologies.”

Daniel Gorfine image via CoinDesk archives

Source Coindesk

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Top 5 Mobile Apps for Trading Crypto

Crypto markets are fast and furious, which is why it’s essential to have a robust mobile trading app so you never miss an opportunity. Unlike any other investment market, in peak volatility prices can move by up to 20% in a matter of hours, which means for immense opportunities to make money fast.

Nowadays, some trading apps are just as good as the desktop version, which is incredibly valuable so that you can act quickly and trade with the same strategies, accuracy, and speed as you would if posted at your desk. 

According to user reviews, here are today’s top 5: 

Coinbase 

One of the world’s most popular crypto exchanges, exceeding 25 million users across 32 countries. 

Key Features and Benefits: 

- Can deposit directly and instantly with fiat via credit card or bank transfer. 

- user-friendly and robust security mechanisms

- High liquidity

- Available app assets: BTC, BCH, ETH, ETC, LTC, BAT, ZRX*, & USDC*

The Coinbase app is available on Google Play for Android and the Apple Store for iOS devices. 

Learn more about Coinbase: https://www.coinbase.com/

PrimeXBT

Bitcoin-based margin trading platform, PrimeXBT, offers the highest leverage across all assets in crypto, fx, commodities, and indices. Namely, up to 100x leverage on the 5 major cryptos (9 pairs).

Key Features and Benefits:

- Modern, high-performance and ultra-fast order execution

- High liquidity aggregated from 12 leading sources

- No KYC 

- Available app assets (crypto): BTC, LTC, ETH, EOS, & XRP

- Hedge - go long and short on the same (or different) asset

The PrimeXBT app is available on Google Play for Android and the Apple Store for iOS devices. 

Learn more about PrimeXBT: https://primexbt.com

Huobi

Singapore-based, Huobi Global, is a prominent global crypto exchange with millions of users from 100+ countries. 

Key Features and Benefits:

- Real-time market & price alerts

- View detailed trading records

- High liquidity

- Available app assets: LTC/BTC & ETH/BTC

The Huobi Global app is available on Google Play for Android and the Apple Store for iOS devices. 

Learn more about Huobi: https://hbg.com

Gemini

Famed for being a fully regulated crypto exchange based in the U.S, Gemini is available in 45+ states as well as a handful of selected countries. 

Key Features and Benefits:

- Strong backing and good reputation

- fully regulated and highly secure

- offers insurance to protect funds in both fiat and crypto

- Available app assets: BTC, BCH, ETH, LTC, & ZEC.

The Gemini app is available on Google Play for Android and the Apple Store for iOS devices. 

Learn more about Gemini: https://gemini.com

Robinhood

US-based Robinhood was initially launched as a mobile app first and foremost for the basic trading of stocks and cryptocurrencies.  Available in the US and selected countries. 

Key Features and Benefits:

- No commission fees (revenue comes from interest earned on user's cash balance)

- Ideal for very basic and casual trading

- Simplistic design and user-friendly

- Available app assets (crypto): BTC, ETH, LTC, BCH, & DOGE

The Robinhood app is available on Google Play for Android and the Apple Store for iOS devices. 

Learn more about Robinhood: https://robinhood.com 

[hungry4btc]

BitMEX Traders Retreat: Incoming Volume Slips by More than $136M Following Foul Play Allegations & CFTC Investigation

It’s been just over a week now since Bitmex’s investigation by the CFTC was blasted with bad press, beginning with a report by Bloomberg on Friday, 19th-July, which brought to light the platform’s shady operations currently under inquest. 

Among other things, Bitmex is suspected of manipulating its trading desk and weaponizing supposed ‘connectivity issues’ against its clients, causing them to be liquidated and unable to act under time-sensitive conditions.

The term has even been coined ‘bitmex rekt’ on social media, as angry traders share their frustration and plans to leave the platform. 

Bitmex is also being probed for allowing forbidden U.S citizens to use the trading platform via virtual private networks (VPNs) which masks the actual location of the connecting device, displaying an IP address from one of the permitted countries. Whether or not Bitmex is knowingly permitting this, or not, remains to be uncovered by the investigation. 

In only a week, the platform saw more than $209M leave the platform, with only $73M coming back in for trade, netting a $136M+ loss in trading volume (source: Token Analyst). However, it should come as no wonder seeing as the CFTC has the authority to freeze all of the platform’s assets should Bitmex be charged with any accounts of foul play.

The notable drop off in Bitmex’s inflow vs. outflow capital over the last month, and even more severe decrease this week, clearly demonstrates the crypto communities lack of faith in the outcome of the investigation. 

As further evidence, Bitmex’s direct competitor margin trading platform, PrimeXBT, has reportedly seen an exponential increase in new user registrations since news of the investigation broke. This makes perfect sense, as PrimeXBT is the only other crypto trading platform to offer 100x leverage - but more than Bitmex, it is available to use on all 5 of the major crypto assets, making up 9 pairs. 

It seems Bitmex’s unique value proposition is becoming less significant with a number exchanges, such as OkEX and Binance, that are now evolving to incorporate or increase their margin trading capabilities, as the profitable strategy has become increasingly sought after with the surge in bullish activity since the beginning of 2019. 

Fortunately, margin trading enthusiasts now have options and can find refuge with other more robust and trustworthy trading platforms, which they may not have otherwise discovered if it weren’t for this drama unfolding.  

Markets are built on confidence, and traders will continue to jump ship if Bitmex cannot prove otherwise that it is not betting against them, can improve their technological infrastructure so that it’s more reliable, and that it can survive the scrupulous examination by the U.S regulator. 

By the looks of the numbers shown here, it may be too little too late, as trust is much harder to regain once it has been lost.