The digital asset exchange OKEx, which is based in Malta, presented a new comprehensive analytical platform that specializes in derivatives trading trends.
According to a press release from OKEx, the new platform will allow OKEx users to track real-time data on exchange-traded futures and swap markets, including access to nine major digital currencies, including Bitcoin, Ethereum, Ripple. Analysis of trends in the market will be carried out on such indicators: the ratio of long / short positions, the volume of purchases / sales, trading volume, open interest, basis, the highest average income of traders, as well as the highest index of sentiment of traders.
This is a leverage. Once we have been realized, it can be our users. @OKEx https://t.co/aoGAYpWGT5
Andy Cheung OKEx (@ AndyC0125) August 4, 2019
According to the company, the purpose of creating this platform is to provide users with objective trade data, this will contribute to better information, as well as the creation of new trading strategies in the derivatives market.
Andy Chung, who is director of operations at OKEx, noted:
“Trading in derivatives involves the acquisition of new knowledge and experience, since it is a question of using leverage and margin. As soon as we realized that the market doesn’t really have much data that could assist users in analyzing market trends, we decided to develop a tool that would benefit customers. For this reason, the release of this platform for big data. We are proud to be the first in the industry to provide this opportunity. ”
Media: 97% of cryptocurrency exchanges in South Korea are on the verge of bankruptcy
Low trading volumes jeopardize the continued existence of the vast majority of South Korean cryptocurrency exchanges, as well as forcing local startups to look for ways to list their coins on foreign sites, according to Business Korea. In particular, the publication draws attention to the fact that only five South Korean sites are today in the first hundred exchanges in terms of trading volume. “It is no exaggeration to say that because of the low […]
Low trading volumes jeopardize the continued existence of the vast majority of South Korean cryptocurrency exchanges, as well as forcing local startups to look for ways to list their coins on foreign sites, according to Business Korea .
In particular, the publication draws attention to the fact that only five South Korean sites are today in the first hundred exchanges in terms of trading volume.
“It is not an exaggeration to say that due to the low volume of transactions, 97% of local exchanges are on the verge of bankruptcy, ” the article says.
Despite the fact that the publication does not cite data that supported its statement, at least one South Korean exchange – Coinnest – has already closed this year. However, the circumstances of the incident are still in question. So, in an interview with CoinDesk Korea , Coinnest representatives said that the closure of the exchange was "a natural result of a decrease in trading volumes", and also mentioned "regulatory problems and business solutions."
At the same time, as BlockchainJournal wrote , it is possible that Coinnest could take such a step because of the prosecution of exchange leaders who were accused of receiving a bribe in exchange for cryptocurrency listing last year.
Be that as it may, one cannot argue with the fact of low trading volumes on South Korean exchanges. And it is precisely this factor that is supposed to be forcing an increasing number of local cryptocurrency startups to be hosted on foreign platforms. And the latter, apparently, do not intend to miss this opportunity.
So, according to the publication, Binance Labs and the BW.com exchange show particular interest in South Korean projects. The first is actively attracting local blockchain startups to its accelerator, while the second has already flipped coins from projects such as Ziktalk, Storichain, Payexpress and Sigma Chain, and intends to open fiat markets in pairs with the South Korean won by the end of the month.
Other “difficult market conditions for local cryptocurrency exchanges” are also called, supposedly forcing projects to look for listing opportunities abroad, including the big problems with making deposits and withdrawing funds in fiat that investors face.
In addition, 200 small exchanges cannot open verified virtual accounts, which deprives investors of any protection.
According to the publication, the current landscape of the cryptocurrency market in South Korea is noticeably different from the picture that could be observed in late 2017 and early 2018. For example, in December 2017, this Asian country accounted for about 20% of the global trading volume of bitcoin, and cryptomania reached such a high level that Prime Minister Lee Nak Yong even called it “a serious pathological phenomenon.”
Earlier in August, it became known that the South Korean authorities will tighten control over local cryptocurrency exchanges, expanding the powers of the Financial Services Commission (FSC). In particular, the FSC unit, previously engaged in the preparation of recommendations for working with exchanges for banks, will now directly control trading platforms. Also, a licensing system for exchanges will be introduced in the country in accordance with the recommendations of the Financial Action Task Force on Money Laundering (FATF).
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Binance plans to introduce an “independent, regional version of Libra” – Venus project
The world's largest cryptocurrency exchange Binance plans to introduce the Venus project, which, according to reports from the company, will be an independent, regional version of Libra.
Binance explains that the decision to issue Venus was formed because the company provides its services to customers from several countries, it has its own blockchain – Binance Chain, as well as the desire to destroy the “financial hegemony” and change the global financial system.
Yee Hye, co-founder of the Binance crypto exchange, noted that the crypto exchange team believes that in the future stablecoins will replace traditional fiat money in countries around the globe, forming a new standard for the digital economy.
Venus is an open blockchain project aimed at developing “local stablecoins” and digital assets whose value is supported by fiat currencies. According to the company, Venus will not have such problems with regulators as Libra, since Binance has already found a common language with regulators around the world. Binance offers its partners technical support, access to a risk management system, and regulatory support.
Investing in cryptocurrency 2019: risks and prospects. Investment Options
The cryptocurrency market is becoming more attractive not only in terms of making it convenient, safe and fast to carry out any financial operations around the world, but also because you can make good money by investing in cryptocurrency tokens.
Those who managed to overcome the fear of the new and bought bitcoin not even for 1 dollar, but at least for 10, 100 and even 500 dollars, now quietly live in their own houses, villas or islands.
Can I earn on investments in crypto now? It's not too late – is it done now? Has all this turned into another hype, tulip mania or the Ponzi pyramid?
The Mining-Cryptocurrency.ru portal has prepared for you material about what methods of investing in crypto exist and how best to do it.
How to choose a cryptocurrency asset for investment?
In order to choose cryptocurrency as a means of investment, you need to keep in mind two very fundamental points. The first point is related to the fact that there are no exact, universal methods by which one could unambiguously determine or predict the profitability of a particular cryptocurrency asset.
In general, investing is mostly creative, almost intuitive and subjective. As the famous investor Warren Buffett once said that if the books had exactly written how to invest and how to make money, then the richest people on Earth would be librarians.
The second point is related to the fact that the methods used in investment practice and trading for the financial analysis of investment assets, such as risk-return ratio, RE ratio, beta ratios, Fibonacci levels, technical analysis and Elliot waves, practically do not work on the crypto market.
Therefore, the most optimal set of tools or criteria by which you can somehow determine the suitable cryptocurrency asset in order to invest money in it is as follows:
- degree of liquidity , i.e. the volume and amount of coins issued, the volume of trading in them or the capitalization of the token must be at least at least 500 million – 1 billion dollars;
- listing on a cryptocurrency exchange , i.e. the token must, at a minimum, be traded on an officially existing trading platform where it can be bought, sold, exchanged for other tokens.
- there are exchange rates with fiat money , i.e. crypto can be exchanged for paper money or other common assets.
- the issuer or organization that issued the token has an officially registered status, publishes its financial statements
- the crypt chosen for investment should have an upward trend for at least the last two years , i.e. the chart of such a cryptocurrency should have a positive slope to the abscissa axis at an angle of at least 10% and at the same time not grow exponentially, have a slope of no more than 45%.
To these basic criteria, you can add a ton of some minor parameters. but basically it all comes down to the fact that the crypt chosen for investment should be demanded by the market, regularly traded on it and it could be withdrawn to your wallet or exchanged for fiat money. All other cryptocurrencies that do not fit the specified criteria are commonly called “shitcoins” on the market, which in fact does not even need further commenting.
What cryptocurrency to invest in 2019?
Of all the liquid cryptocurrencies at the moment, the most promising is the XRP token from Ripple.
Why is this crypto most suitable for both those who invest money for a relatively short period of time (up to 1 year), and those who prefer to be a long-term investor or scammer.
The following criteria and parameters are attractive:
- The XRP token is not just a cryptocurrency, but a digital asset that is actively used for interbank settlements in some payment systems (for example, MoneyGram). In particular, this crypto is now used by more than 200 financial organizations, banks, including the largest Japanese financial holding SBI, combining more than 60 banks, insurance companies, investment houses, etc.
- Past indicators of price dynamics, namely, the growth of the token by 40,000% in 2017, have a clear tendency to repeat with the target value of the token up to $ 50 in the future 2020 – 2021.
- Ripple has the third place by capitalization and liquidity in the general list of cryptocurrencies actively traded on cryptocurrency exchanges.
- The protocol used in the Ripple ecosystem for conducting financial transactions (DLP) provides the most minimal payment period – 3-4 seconds. For comparison, calculations using Bitcoin require 3-4 hours in order for payment confirmation to pass in at least 12 blocks.
In addition, Ripple's advantage over many other crypts can be attributed to the fact that there is certain information – Ripple and its payment services will be used as an international cryptocurrency standard.
TOP 5 most promising cryptocurrencies for investment
Out of the entire variety of cryptocurrencies available for investment, you can use only the first two to three dozen tokens of the largest projects .
The list of the top investment tokens is as follows :
How to invest in cryptocurrency?
Of all the available options for investing in crypto for an ordinary person, a layman in the field of information technology and finance, the most simple and preferred are three proven methods:
- Cloud mining . In a general sense, mining is the extraction or receipt of a crypto as a reward from the token ecosystem for participating in transactions using equipment and energy costs. To do this, you can purchase both your personal digital equipment (farm) and use the equipment of others, i.e. remotely or via cloud technology. The logic of the cloud mining process is simple – an investor concludes an agreement (registers on the site) with a mining operator that has the appropriate mining capabilities. By participating in the overall mining process , each investor receives his share of the profit in proportion to the money invested. The profitability of cloud mining in comparison with conventional (hardware) mining almost always turns out to be higher and more profitable for you.
- Cryptoexchange . This investment option involves the purchase of cryptocurrency on special trading platforms – cryptocurrency exchanges. To do this, it is enough to register on the exchange website, enter some personal data, payment details, transfer money. Investing through the exchange is usually effective in forming an investment portfolio consisting of several cryptocurrencies.
- Cryptocurrency exchangers . The main purpose of the existence and meaning of the cryptocurrency exchange business is to serve as an intermediary in the exchange of cryptocurrency for fiat money and vice versa. To create a crypto-exchanger there is no need to create a company, register it. For this, virtual exchange platforms are usually used in the form of a website whose domain name is registered in offshore jurisdiction. Cryptocurrency exchange commission varies from 1% to 15% of the exchange amount. This investment method requires some training in information technology.
Advantages and disadvantages of cryptocurrency investments
Investments in cryptocurrency instruments, like any investments in financial assets, such as stocks and bonds, are fraught with risk. However, this is so far the only thing that combines these two formats of investing money. By and large, crypto, as an innovative asset, has such advantages as:
- the ability to conduct almost instant financial transactions throughout the planet and in any amount (scalability). On average, it takes 3-4 seconds to transfer money in the ripple ecosystem (Coil, Xrapid, xCurrent).
For comparison, to make a regular bank international transfer between the owner’s own accounts, you will have to spend at least 3-4 days. This property of crypto being part of practical use in the financial system or use-case is one of the main attractive points of investing in digital assets.
- In second place after the demand for crypto, as a real financial payment instrument, is profitability. Naturally, while the crypto market is at its initial stage of development, institutional investors should be expected to come to this segment. Then, those impressive rates of bitcoin or XRP growth of thousands of percent in 2017 will seem like childish fun. For, for example, the daily volume of financial transactions in the world is about 8 -12 trillion. dollars. It is easy to imagine what will happen if at least 50% of this liquidity goes into cryptocurrency payment systems. Therefore, it is not in vain among cryptocurrency investors that there are rumors that soon Bitcoin will cost at least $ 100-250 thousand, and the Ripple token so unloved by haters all over the world will finally go in the direction of the tuzemun, delighting its loyal hodlers with a 50 bar – 100 dollars.
- the third place of honor in the attractiveness of investing in crypto is the relative reliability of asset storage, despite the fact that scandals periodically arise about the theft of bitcoins and other cryptocurrencies from one or another exchange. The blockchain system is designed in such a way that it is impossible to withdraw an asset without instantly displaying a hacking attempt along the entire transaction chain, recorded in hundreds of thousands of computers.
- anonymity. In general, blockchain transactions in cryptocurrency systems provide anonymity protocol for financial transactions. This does not mean that this method serves as a good way of concealing and laundering criminal money. This, first of all, speaks about the security of the investor’s personal information, since, in essence, there is no banking secrecy in the world, from the word at all. It is enough to recall the recent scandals with Cypriot and Swiss banks, the “Panama dossier”, which were ready to provide any information on their customers.
Having listed all these obvious advantages, you still can not ignore such an important advantage of investing in a crypt as elementary convenience. You can invest money, withdraw it, send it to anywhere in the world, there is no need to store assets in safes and bank cells. Those. investor money is always with him, he always has access to them, and their safety is guaranteed.
Among the disadvantages of investing in a crypto, one thing should be taken only – this is still a poorly developed infrastructure that allows fully using the crypto as a legal tender. This is the lack of full-fledged payment systems, normal cashing systems. This also includes the desire of states to take control of this tool, which guarantees everyone, without exception, real financial freedom, in return for the financial slavery that the outdated usurious (credit) banking currency system has been offering for hundreds of years.
Publication date 08/19/2019
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