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What are the Trading Opportunities for Bitcoin?

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Bitcoin

Bitcoin prices have run the gauntlet of extreme volatility in the last five years. According to Investopedia, the market has risen by 900%, which has attracted the attention of serious traders. It’s becoming increasingly obvious that bitcoin is no flash in the pan. Bitcoin has gone from a Dark Web currency to one accepted in many mainstream outlets.

Predicting the Future of Bitcoin

There are several ways to trade bitcoin. Firstly, you can buy bitcoin and hope it goes up in value before you sell. If it does, you have made a profit. If not, you lose. The second way to make money trading on bitcoin is to speculate on the fluctuations in bitcoin value, rather than actually owning some of the cryptocurrency.

Anyone with the foresight to invest £1,000 in bitcoin back in 2010 would be worth a staggering £14.5 million. The price of bitcoin has dropped rather dramatically from the dizzy heights of December 2017, but most analysts believe it has leveled out now. This means there are excellent trading opportunities for those with a strong stomach for risk.

Spread Betting and CFDs

The most common way to speculate on bitcoin is via spread betting or CFDs. Spread betting lets you speculate on whether the bitcoin market will rise or fall. CFDs is a contract for difference between buyer and seller, so you are speculating on the underlying market price of bitcoin. Both trading strategies are leveraged. You can bet a small amount but gain exposure to a much larger market. If you make a smart trade, it is possible to make a lot of money, but if you get it wrong, your losses will be much higher than your initial trade.

Bitcoin Options Trading

The other option you have is bitcoin option trading. The downside is that bitcoin options are expensive, as bitcoin is extremely volatile. Options prices are subject to Implied Volatility. The higher IV goes, the costlier a bitcoin option becomes. Acceptance of bitcoin trading is growing. Last year, the Chicago Mercantile Exchange announced it planned to launch bitcoin futures in late 2017; these are now live.

For an experienced trader, making a profit is not too difficult. It’s a case of following the news and being alive to market fluctuations and their underlying causes. For example, back in February, Business Insider reported that bitcoin was trading at a premium in South Korea compared to the US, which represented a golden opportunity for traders to buy bitcoin in the US and sell it in South Korea.

Currency Exchanges Vs. Online Trading Platforms

Bitcoin trading is commonly conducted via cryptocurrency exchanges, but this is not necessarily a smart strategy for traders. Bitcoin exchanges are unregulated and there have been some high-profile hacks in recent years. Your money is not safe, even when it’s stored in a secure crypto wallet. Using an online trading platform is much safer. You can execute trades immediately and potentially make a profit even when the markets are in reverse.

It is important to be aware that bitcoin is volatile, so if you decide to trade in the crypto markets, be prepared for a rocky ride.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Altcoins

DeFi Wizard Raises $750k from Blockchain Investment Bigshots, to Simplify Multi-chain DeFi Legos

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Bengaluru,, India, 24th February, 2021, // ChainWire //

In order to give shape to their ‘one-click DeFi contracts creation’ dream, Defi Wizard has raised a total of $750,000 from X21 Digital, AU21 Capital, Amsterdam-based TRG Capital, DeltaHub Capital, NGC Ventures, and ExNetwork.

Speaking on latest development Defi wizard founder and CEO, Anand Kamath said: 

“It gives us immense pleasure to announce that our platform, DeFi Wizard has attracted the attention of leading blockchain investors and funds.”

DeFi Wizard aims to help cryptocurrency companies and businesses seamlessly create digital assets, without any hassles, with the objective of becoming an all-in-one token creation platform. 

Investment Usage

This recently concluded fundraising round is an important milestone for Defi Wizard. It will fuel the development of the platform along with operations/maintenance.

Other ways in which Defi wizard will receive assistance is with liquidity bootstrapping for Uniswap listing, alongwith added global and regional promotional efforts to generate awareness for the platform. 

About Defi Wizard

Defi wizard is a dashboard for building DeFi (decentralized finance) smart contracts with a few clicks. It offers real-time programmer analytics and allows users to create smart contracts for ERC20 / BEP20 / EDST, staking, yield farming, governance, cross-chain bridge, gasless relayer baked in.

As per the latest statistics, more than five projects are already using DeFi Wizard’s staking services and more than $100M AUM has been locked through the smart contracts generated through the…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

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Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

Published

on

Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

Continue Reading

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