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Crypto Banking Wars: Can BlockFi & Celsius Disrupt Banking?

Crypto Banking Wars: Can BlockFi & Celsius Disrupt Banking?
These crypto lending & borrowing services found early traction. Are they capable of bundling more financial services and winning the broader consumer finance market?
https://reddit.com/link/icps9l/video/98kl1y596zh51/player
This is the third part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this very powerful technology to reach the masses. As we laid out in our previous series, Crypto-Powered, we believe a crypto-native company will ultimately become the bank of the future. We’re confident Genesis Block will have a seat at that table, but we aren’t the only game in town.
In the first post of this series, we did an analysis of big crypto exchanges like Coinbase & Binance. In our second episode, we looked at the world of non-custodial wallets.
Today we’re analyzing crypto lending & borrowing services. The Earn and Borrow use-case covers a lot of what traditional banks deliver today. This category of companies is a threat worth analyzing. As we look at this market, we’ll mostly be focused on custodial, centralized products like BlockFi, Nexo, and Celsius.
Many of these companies found early traction among crypto users. Are they capable of bundling more financial services and winning the broader consumer finance market? Let’s find out.

Institutional Borrowers

Because speculation and trading remains one of the most popular use-cases of crypto, a new crypto sub-industry around credit has emerged. Much of the borrowing demand has been driven by institutional needs.
For example, a Bitcoin mining company might need to borrow fiat to pay for operational costs (salaries, electricity). Or a crypto company might need to borrow USD to pay for engineering salaries. Or a crypto hedge fund needs to borrow for leverage or to take a specific market position. While all of these companies have sufficient crypto to cover the costs, they might not want to sell it — either for tax or speculative reasons (they may believe these crypto assets will appreciate, as with most in the industry).
Instead of selling their crypto, these companies can use their crypto as collateral for loans. For example, they can provide $1.5M in Bitcoin as collateral, and borrow $1M. Given the collateralization happening, the underwriting process becomes straightforward. Companies all around the world can participate — language and cultural barriers are removed.

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The leader (and one of our partners) in this space is Genesis Capital. While they are always the counterparty for both lenders and borrowers, they are effectively a broker. They are at the center of the institutional crypto lending & borrowing markets. Their total active loans as of March 2020 was $649M. That number shot up to $1.42B in active loans as of June 2020. The growth of this entire market segment is impressive and it’s what is driving this opportunity for consumers downstream.

Consumer Products

While most of the borrowing demand comes from institutional players, there is a growing desire from consumers to participate on the lend/supply side of the market. Crypto consumers would love to be able to deposit their assets with a service and watch it grow. Why let crypto assets sit on an exchange or in cold storage when it can be earning interest?
A number of consumer-facing products have emerged in the last few years to make this happen. While they also allow users to borrow (always with collateral), most of the consumer attraction is around growing their crypto, even while they sleep. Earning interest. These products usually partner with institutional players like Genesis Capital to match the deposits with borrowing demand. And it’s exactly part of our strategy as well, beyond leveraging DeFi (decentralized finance protocols).
A few of the most popular consumer services in this category include BlockFi, Nexo, and Celsius.

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BlockFi

BlockFi (Crunchbase) is the leader in this category (at least in the West). They are well-capitalized. In August 2019, they raised $18.3M in their Series A. In Feb 2020, they raised $30M in their Series B. In that same time period, they went from $250M in assets under management to $650M. In a recent blog post, they announced that they saw a 100% revenue increase in Q2 and that they were on track to do $50M in revenue this year. Their growth is impressive.
BlockFi did not do an ICO, unlike Celsius, Nexo, Salt, and Cred. BlockFi has a lot of institutional backing so it is perceived as the most reputable in the space. BlockFi started with borrowing — allowing users to leverage their crypto as collateral and taking out a loan against it. They later got into Earning — allowing users to deposit assets and earn interest on it. They recently expanded their service to “exchange” functionality and say they are coming out with a credit card later this year.

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Security Woes
It’s incredible that BlockFi has been able to see such strong growth despite their numerous product and security woes. A few months ago, their systems were compromised. A hacker was able to access confidential data, such as names, dates of birth, postal addresses, and activity histories. While no funds were lost, this was a massive embarrassment and caused reputational damage.

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Unrelated to that massive security breach and earlier in the year, a user discovered a major bug that allowed him to send the same funds to himself over and over again, ultimately accumulating more than a million dollars in his BlockFi account. BlockFi fortunately caught him just before withdrawal.
Poor Product Execution
Beyond their poor security — which they are now trying to get serious about — their products are notoriously buggy and hard-to-use. I borrowed from them a year ago and used their interest account product until very recently. I have first-hand experience of how painful it is. But don’t take my word for it… here are just a few tweets from customers just recently.

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For a while, their interest-earning product had a completely different authentication system than their loan product (users had two sets of usernames/passwords). Many people have had issues with withdrawals. The app is constantly logging people out, blank screens, ugly error messages. Emails with verification codes are sometimes delayed by hours (or days). I do wonder if their entire app has been outsourced. The sloppiness shines through.
Not only is their product buggy and UX confusing, but their branding & design is quite weak. To the left is a t-shirt they once sent me. It looks like they just found a bunch of quirky fonts, added their name, and slapped it on a t-shirt.

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Culture
To the innocent bystander, many of these issues seem totally fixable. They could hire an amazing design agency to completely revamp their product or brand. They could hire a mercenary group of engineers to fix their bugs, etc. While it could stop the bleeding for a time, it may not solve the underlying issues. Years of sloppy product execution represents something much more destructive. It represents a top-down mentality that shipping anything other than excellence is okay: product experience doesn’t matter; design doesn’t matter; craftsmanship doesn’t matter; strong execution doesn’t matter; precision doesn’t matter. That’s very different from our culture at Genesis Block.
This cancerous mentality rarely stays contained within product & engineering — this leaks to all parts of the organization. No design agency or consulting firm will fix some of the pernicious values of a company’s soul. These are deeper issues that only leadership can course-correct.
If BlockFi’s sloppiness were due to constant experimentation, iteration, shipping, or some “move fast and break things” hacker culture… like Binance… I would probably cut them more slack. But there is zero evidence of that. “Move fast and break things” is always scary when dealing with financial products. But in BlockFi’s case, when it’s more like “move slow and break things,” they are really playing with fire. Next time a massive security breach occurs, like what happened earlier this year, they may not be so lucky.
Institutional Focus
Based on who is on their team, their poor product execution shouldn’t be a surprise. Their team comes mostly from Wall Street, not the blockchain community (where our roots are). Most of BlockFi’s blockchain/crypto integration is very superficial. They take crypto assets as deposits, but they aren’t leveraging any of the exciting, low-level DeFi protocols like we are.
While their Wall Street heritage isn’t doing them any favors on the product/tech side, it’s served them very well on winning institutional clients. This is perhaps their greatest strength. BlockFi has a strong institutional business. They recently brought on Three Arrows Capital as a strategic investor — a crypto hedge fund who does a lot of borrowing. In that announcement, BlockFi’s founder said that bringing them on “aligns well with our focus on international expansion of our institutional services offering.” They also recently brought someone on who will lead business development in Asia among institutional clients.
BlockFi Wrap Up
There are certainly BlockFi features that overlap with Genesis Block’s offering. It’s possible that they are angling to become the bank of the future. However, they simply have not proven they are capable of designing, building, and launching world-class consumer products. They’ve constantly had issues around security and poor product execution. Their company account and their founder’s account seem to only tweet about Bitcoin. I don’t think they understand, appreciate, or value the power of DeFi. It’s unlikely they’ll be leveraging it any time soon. All of these reasons are why I don’t see them as a serious threat to Genesis Block.
However, because of their strong institutional offering, I hope that Genesis Block will ultimately have a very collaborative and productive partnership with them. Assuming they figure out their security woes, we could park some of our funds with BlockFi (just as we will with Genesis Capital and others). I think what’s likely to happen is that we’ll corner the consumer market and we’ll work closely with BlockFi on the institutional side.
I’ve been hard on BlockFi because I care. I think they have a great opportunity at helping elevate the entire industry in a positive way. But they have a lot of issues they need to work through. I really don’t want to see users lose millions of dollars in a security breach. It could set back the entire industry. But if they do things well… a rising tide lifts all boats.

Honorable Mentions

Celsius (ICO Drops) raised $50M in an ICO, and is led by serial entrepreneur Alex Mashinsky. I’ve met him, he’s a nice guy. Similar to Binance, their biggest Achilles heel could be their own token. There are also a lot of unanswered questions about where their deposits go. They don’t have a record of great transparency. They recently did a public crowdraise which is a little odd given their large ICO as well as their supposed $1B in deposits. Are they running out of money, as some suggest? Unclear. One of their biggest blindspots right now is that Mashinsky does not understand the power of DeFi. He is frequently openly criticizing it.
Nexo (ICO Drops) is another similar service. They are European-based, trying to launch their own card (though they’ve been saying this forever and they still haven’t shipped it), and have a history in the payments/fintech space. Because they haven’t penetrated the US — which is a much harder regulatory nut to crack — they are unlikely to be as competitive as BlockFi. There were also allegations that Nexo was spreading FUD about Chainlink while simultaneously partnering with them. Did Nexo take out a short position and start spreading rumors? Never a dull moment in crypto.
Other players in the lending & borrowing space include Unchained Capital, Cred (ICO Drops), and Salt (ICO Drops).

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Wrap Up

While many companies in this category seem to be slowly adding more financial services, I don’t believe any of them are focused on the broader consumer market like we are. To use services like BlockFi, Nexo, or Celsius, users need to be onboarded and educated on how crypto works. At Genesis Block, we don’t believe that’s the winning approach. We think blockchain complexity should be abstracted away from the end-user. We did an entire series about this, Spreading Crypto.
For many of these services, there is additional friction due to ICO tokens that are forcefully integrated into the product (see NEXO token or CEL Token). None of these services have true banking functionality or integration with traditional finance —for example, easy offramp or spending methods like debit cards. None of them are taking DeFi seriously — they are leveraging crypto for only the asset class, not the underlying technology around financial protocols.
So are these companies potential competitors to Genesis Block? For the crypto crowd, yes. For the mass market, no. None of these companies are capable of reaching the billions of people around the world that we hope to reach at Genesis Block.
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Beginner’s Guide to BitMEX

Beginner’s Guide to BitMEX

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Founded by HDR Global Trading Limited (which in turn was founded by former bankers Arthur Hayes, Samuel Reed and Ben Delo) in 2014, BitMEX is a trading platform operating around the world and registered in the Seychelles.
Meaning Bitcoin Mercantile Exchange, BitMEX is one of the largest Bitcoin trading platforms currently operating, with a daily trading volume of over 35,000 BTC and over 540,000 accesses monthly and a trading history of over $34 billion worth of Bitcoin since its inception.

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Unlike many other trading exchanges, BitMEX only accepts deposits through Bitcoin, which can then be used to purchase a variety of other cryptocurrencies. BitMEX specialises in sophisticated financial operations such as margin trading, which is trading with leverage. Like many of the exchanges that operate through cryptocurrencies, BitMEX is currently unregulated in any jurisdiction.
Visit BitMEX

How to Sign Up to BitMEX

In order to create an account on BitMEX, users first have to register with the website. Registration only requires an email address, the email address must be a genuine address as users will receive an email to confirm registration in order to verify the account. Once users are registered, there are no trading limits. Traders must be at least 18 years of age to sign up.
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However, it should be noted that BitMEX does not accept any US-based traders and will use IP checks to verify that users are not in the US. While some US users have bypassed this with the use of a VPN, it is not recommended that US individuals sign up to the BitMEX service, especially given the fact that alternative exchanges are available to service US customers that function within the US legal framework.
How to Use BitMEX
BitMEX allows users to trade cryptocurrencies against a number of fiat currencies, namely the US Dollar, the Japanese Yen and the Chinese Yuan. BitMEX allows users to trade a number of different cryptocurrencies, namely Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Tezos and Zcash.
The trading platform on BitMEX is very intuitive and easy to use for those familiar with similar markets. However, it is not for the beginner. The interface does look a little dated when compared to newer exchanges like Binance and Kucoin’s.
Once users have signed up to the platform, they should click on Trade, and all the trading instruments will be displayed beneath.
Clicking on the particular instrument opens the orderbook, recent trades, and the order slip on the left. The order book shows three columns – the bid value for the underlying asset, the quantity of the order, and the total USD value of all orders, both short and long.
The widgets on the trading platform can be changed according to the user’s viewing preferences, allowing users to have full control on what is displayed. It also has a built in feature that provides for TradingView charting. This offers a wide range of charting tool and is considered to be an improvement on many of the offering available from many of its competitors.
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Once trades are made, all orders can be easily viewed in the trading platform interface. There are tabs where users can select their Active Orders, see the Stops that are in place, check the Orders Filled (total or partially) and the trade history. On the Active Orders and Stops tabs, traders can cancel any order, by clicking the “Cancel” button. Users also see all currently open positions, with an analysis if it is in the black or red.
BitMEX uses a method called auto-deleveraging which BitMEX uses to ensure that liquidated positions are able to be closed even in a volatile market. Auto-deleveraging means that if a position bankrupts without available liquidity, the positive side of the position deleverages, in order of profitability and leverage, the highest leveraged position first in queue. Traders are always shown where they sit in the auto-deleveraging queue, if such is needed.
Although the BitMEX platform is optimized for mobile, it only has an Android app (which is not official). There is no iOS app available at present. However, it is recommended that users use it on the desktop if possible.
BitMEX offers a variety of order types for users:
  • Limit Order (the order is fulfilled if the given price is achieved);
  • Market Order (the order is executed at current market price);
  • Stop Limit Order (like a stop order, but allows users to set the price of the Order once the Stop Price is triggered);
  • Stop Market Order (this is a stop order that does not enter the order book, remain unseen until the market reaches the trigger);
  • Trailing Stop Order (it is similar to a Stop Market order, but here users set a trailing value that is used to place the market order);
  • Take Profit Limit Order (this can be used, similarly to a Stop Order, to set a target price on a position. In this case, it is in respect of making gains, rather than cutting losses);
  • Take Profit Market Order (same as the previous type, but in this case, the order triggered will be a market order, and not a limit one)
The exchange offers margin trading in all of the cryptocurrencies displayed on the website. It also offers to trade with futures and derivatives – swaps.

Futures and Swaps

A futures contract is an agreement to buy or sell a given asset in the future at a predetermined price. On BitMEX, users can leverage up to 100x on certain contracts.
Perpetual swaps are similar to futures, except that there is no expiry date for them and no settlement. Additionally, they trade close to the underlying reference Index Price, unlike futures, which may diverge substantially from the Index Price.
BitMEX also offers Binary series contracts, which are prediction-based contracts which can only settle at either 0 or 100. In essence, the Binary series contracts are a more complicated way of making a bet on a given event.
The only Binary series betting instrument currently available is related to the next 1mb block on the Bitcoin blockchain. Binary series contracts are traded with no leverage, a 0% maker fee, a 0.25% taker fee and 0.25% settlement fee.

Bitmex Leverage

BitMEX allows its traders to leverage their position on the platform. Leverage is the ability to place orders that are bigger than the users’ existing balance. This could lead to a higher profit in comparison when placing an order with only the wallet balance. Trading in such conditions is called “Margin Trading.”
There are two types of Margin Trading: Isolated and Cross-Margin. The former allows the user to select the amount of money in their wallet that should be used to hold their position after an order is placed. However, the latter provides that all of the money in the users’ wallet can be used to hold their position, and therefore should be treated with extreme caution.
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The BitMEX platform allows users to set their leverage level by using the leverage slider. A maximum leverage of 1:100 is available (on Bitcoin and Bitcoin Cash). This is quite a high level of leverage for cryptocurrencies, with the average offered by other exchanges rarely exceeding 1:20.

BitMEX Fees

For traditional futures trading, BitMEX has a straightforward fee schedule. As noted, in terms of leverage offered, BitMEX offers up to 100% leverage, with the amount off leverage varying from product to product.
However, it should be noted that trading at the highest leverages is sophisticated and is intended for professional investors that are familiar with speculative trading. The fees and leverage are as follows:
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However, there are additional fees for hidden / iceberg orders. A hidden order pays the taker fee until the entire hidden quantity is completely executed. Then, the order will become normal, and the user will receive the maker rebate for the non-hidden amount.

Deposits and Withdrawals

BitMEX does not charge fees on deposits or withdrawals. However, when withdrawing Bitcoin, the minimum Network fee is based on blockchain load. The only costs therefore are those of the banks or the cryptocurrency networks.
As noted previously, BitMEX only accepts deposits in Bitcoin and therefore Bitcoin serves as collateral on trading contracts, regardless of whether or not the trade involves Bitcoin.
The minimum deposit is 0.001 BTC. There are no limits on withdrawals, but withdrawals can also be in Bitcoin only. To make a withdrawal, all that users need to do is insert the amount to withdraw and the wallet address to complete the transfer.
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Deposits can be made 24/7 but withdrawals are processed by hand at a recurring time once per day. The hand processed withdrawals are intended to increase the security levels of users’ funds by providing extra time (and email notice) to cancel any fraudulent withdrawal requests, as well as bypassing the use of automated systems & hot wallets which may be more prone to compromise.

Supported Currencies

BitMEX operates as a crypto to crypto exchange and makes use of a Bitcoin-in/Bitcoin-out structure. Therefore, platform users are currently unable to use fiat currencies for any payments or transfers, however, a plus side of this is that there are no limits for trading and the exchange incorporates trading pairs linked to the US Dollar (XBT), Japanese Yen (XBJ), and Chinese Yuan (XBC).
BitMEX supports the following cryptocurrencies:
  • Bitcoin (XBT)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Ripple Token (XRP)
  • Monero (XMR)
  • Dash (DASH)
  • Zcash (ZEC)
  • Cardano (ADA)
  • Tron (TRX)
  • EOS Token (EOS)
BitMEX also offers leverage options on the following coins:
  • 5x: Zcash (ZEC)
  • 20x : Ripple (XRP),Bitcoin Cash (BCH), Cardano (ADA), EOS Token (EOS), Tron (TRX)
  • 25x: Monero (XMR)
  • 33x: Litecoin (LTC)
  • 50x: Ethereum (ETH)
  • 100x: Bitcoin (XBT), Bitcoin / Yen (XBJ), Bitcoin / Yuan (XBC)

Trading Technologies International Partnership

HDR Global Trading, the company which owns BitMEX, has recently announced a partnership with Trading Technologies International, Inc. (TT), a leading international high-performance trading software provider.
The TT platform is designed specifically for professional traders, brokers, and market-access providers, and incorporates a wide variety of trading tools and analytical indicators that allow even the most advanced traders to customize the software to suit their unique trading styles. The TT platform also provides traders with global market access and trade execution through its privately managed infrastructure and the partnership will see BitMEX users gaining access to the trading tools on all BitMEX products, including the popular XBT/USD Perpetual Swap pairing.
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The BitMEX Insurance Fund

The ability to trade on leverage is one of the exchange’s main selling points and offering leverage and providing the opportunity for traders to trade against each other may result in a situation where the winners do not receive all of their expected profits. As a result of the amounts of leverage involved, it’s possible that the losers may not have enough margin in their positions to pay the winners.
Traditional exchanges like the Chicago Mercantile Exchange (CME) offset this problem by utilizing multiple layers of protection and cryptocurrency trading platforms offering leverage cannot currently match the levels of protection provided to winning traders.
In addition, cryptocurrency exchanges offering leveraged trades propose a capped downside and unlimited upside on a highly volatile asset with the caveat being that on occasion, there may not be enough funds in the system to pay out the winners.
To help solve this problem, BitMEX has developed an insurance fund system, and when a trader has an open leveraged position, their position is forcefully closed or liquidated when their maintenance margin is too low.
Here, a trader’s profit and loss does not reflect the actual price their position was closed on the market, and with BitMEX when a trader is liquidated, their equity associated with the position drops down to zero.
In the following example, the trader has taken a 100x long position. In the event that the mark price of Bitcoin falls to $3,980 (by 0.5%), then the position gets liquidated with the 100 Bitcoin position needing to be sold on the market.
This means that it does not matter what price this trade executes at, namely if it’s $3,995 or $3,000, as from the view of the liquidated trader, regardless of the price, they lose all the equity they had in their position, and lose the entire one Bitcoin.
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Assuming there is a fully liquid market, the bid/ask spread should be tighter than the maintenance margin. Here, liquidations manifest as contributions to the insurance fund (e.g. if the maintenance margin is 50bps, but the market is 1bp wide), and the insurance fund should rise by close to the same amount as the maintenance margin when a position is liquidated. In this scenario, as long as healthy liquid markets persist, the insurance fund should continue its steady growth.
The following graphs further illustrate the example, and in the first chart, market conditions are healthy with a narrow bid/ask spread (just $2) at the time of liquidation. Here, the closing trade occurs at a higher price than the bankruptcy price (the price where the margin balance is zero) and the insurance fund benefits.
Illustrative example of an insurance contribution – Long 100x with 1 BTC collateral
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(Note: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,978, representing $1 of slippage compared to the $3,979 bid price at the time of liquidation.)
The second chart shows a wide bid/ask spread at the time of liquidation, here, the closing trade takes place at a lower price than the bankruptcy price, and the insurance fund is used to make sure that winning traders receive their expected profits.
This works to stabilize the potential for returns as there is no guarantee that healthy market conditions can continue, especially during periods of heightened price volatility. During these periods, it’s actually possible that the insurance fund can be used up than it is built up.
Illustrative example of an insurance depletion – Long 100x with 1 BTC collateral
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(Notes: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,800, representing $20 of slippage compared to the $3,820 bid price at the time of liquidation.)
The exchange declared in February 2019, that the BitMEX insurance fund retained close to 21,000 Bitcoin (around $70 million based on Bitcoin spot prices at the time).
This figure represents just 0.007% of BitMEX’s notional annual trading volume, which has been quoted as being approximately $1 trillion. This is higher than the insurance funds as a proportion of trading volume of the CME, and therefore, winning traders on BitMEX are exposed to much larger risks than CME traders as:
  • BitMEX does not have clearing members with large balance sheets and traders are directly exposed to each other.
  • BitMEX does not demand payments from traders with negative account balances.
  • The underlying instruments on BitMEX are more volatile than the more traditional instruments available on CME.
Therefore, with the insurance fund remaining capitalized, the system effectively with participants who get liquidated paying for liquidations, or a losers pay for losers mechanism.
This system may appear controversial as first, though some may argue that there is a degree of uniformity to it. It’s also worth noting that the exchange also makes use of Auto Deleveraging which means that on occasion, leveraged positions in profit can still be reduced during certain time periods if a liquidated order cannot be executed in the market.
More adventurous traders should note that while the insurance fund holds 21,000 Bitcoin, worth approximately 0.1% of the total Bitcoin supply, BitMEX still doesn’t offer the same level of guarantees to winning traders that are provided by more traditional leveraged trading platforms.
Given the inherent volatility of the cryptocurrency market, there remains some possibility that the fund gets drained down to zero despite its current size. This may result in more successful traders lacking confidence in the platform and choosing to limit their exposure in the event of BitMEX being unable to compensate winning traders.

How suitable is BitMEX for Beginners?

BitMEX generates high Bitcoin trading levels, and also attracts good levels of volume across other crypto-to-crypto transfers. This helps to maintain a buzz around the exchange, and BitMEX also employs relatively low trading fees, and is available round the world (except to US inhabitants).
This helps to attract the attention of people new to the process of trading on leverage and when getting started on the platform there are 5 main navigation Tabs to get used to:
  • **Trade:**The trading dashboard of BitMEX. This tab allows you to select your preferred trading instrument, and choose leverage, as well as place and cancel orders. You can also see your position information and view key information in the contract details.
  • **Account:**Here, all your account information is displayed including available Bitcoin margin balances, deposits and withdrawals, and trade history.
  • **Contracts:**This tab covers further instrument information including funding history, contract sizes; leverage offered expiry, underlying reference Price Index data, and other key features.
  • **References:**This resource centre allows you to learn about futures, perpetual contracts, position marking, and liquidation.
  • **API:**From here you can set up an API connection with BitMEX, and utilize the REST API and WebSocket API.
BitMEX also employs 24/7 customer support and the team can also be contacted on their Twitter and Reddit accounts.
In addition, BitMEX provides a variety of educational resources including an FAQ section, Futures guides, Perpetual Contracts guides, and further resources in the “References” account tab.
For users looking for more in depth analysis, the BitMEX blog produces high level descriptions of a number of subjects and has garnered a good reputation among the cryptocurrency community.
Most importantly, the exchange also maintains a testnet platform, built on top of testnet Bitcoin, which allows anyone to try out programs and strategies before moving on to the live exchange.
This is crucial as despite the wealth of resources available, BitMEX is not really suitable for beginners, and margin trading, futures contracts and swaps are best left to experienced, professional or institutional traders.
Margin trading and choosing to engage in leveraged activity are risky processes and even more advanced traders can describe the process as a high risk and high reward “game”. New entrants to the sector should spend a considerable amount of time learning about margin trading and testing out strategies before considering whether to open a live account.

Is BitMEX Safe?

BitMEX is widely considered to have strong levels of security. The platform uses multi-signature deposits and withdrawal schemes which can only be used by BitMEX partners. BitMEX also utilises Amazon Web Services to protect the servers with text messages and two-factor authentication, as well as hardware tokens.
BitMEX also has a system for risk checks, which requires that the sum of all account holdings on the website must be zero. If it’s not, all trading is immediately halted. As noted previously, withdrawals are all individually hand-checked by employees, and private keys are never stored in the cloud. Deposit addresses are externally verified to make sure that they contain matching keys. If they do not, there is an immediate system shutdown.
https://preview.redd.it/t04qs3484cc41.jpg?width=808&format=pjpg&auto=webp&s=a3b106cbc9116713dcdd5e908c00b555fd704ee6
In addition, the BitMEX trading platform is written in kdb+, a database and toolset popular amongst major banks in high frequency trading applications. The BitMEX engine appears to be faster and more reliable than some of its competitors, such as Poloniex and Bittrex.
They have email notifications, and PGP encryption is used for all communication.
The exchange hasn’t been hacked in the past.

How Secure is the platform?

As previously mentioned, BitMEX is considered to be a safe exchange and incorporates a number of security protocols that are becoming standard among the sector’s leading exchanges. In addition to making use of Amazon Web Services’ cloud security, all the exchange’s systems can only be accessed after passing through multiple forms of authentication, and individual systems are only able to communicate with each other across approved and monitored channels.
Communication is also further secured as the exchange provides optional PGP encryption for all automated emails, and users can insert their PGP public key into the form inside their accounts.
Once set up, BitMEX will encrypt and sign all the automated emails sent by you or to your account by the [[email protected]](mailto:[email protected]) email address. Users can also initiate secure conversations with the support team by using the email address and public key on the Technical Contact, and the team have made their automated system’s PGP key available for verification in their Security Section.
The platform’s trading engine is written in kdb+, a database and toolset used by leading financial institutions in high-frequency trading applications, and the speed and reliability of the engine is also used to perform a full risk check after every order placement, trade, settlement, deposit, and withdrawal.
All accounts in the system must consistently sum to zero, and if this does not happen then trading on the platform is immediately halted for all users.
With regards to wallet security, BitMEX makes use of a multisignature deposit and withdrawal scheme, and all exchange addresses are multisignature by default with all storage being kept offline. Private keys are not stored on any cloud servers and deep cold storage is used for the majority of funds.
Furthermore, all deposit addresses sent by the BitMEX system are verified by an external service that works to ensure that they contain the keys controlled by the founders, and in the event that the public keys differ, the system is immediately shut down and trading halted. The exchange’s security practices also see that every withdrawal is audited by hand by a minimum of two employees before being sent out.

BitMEX Customer Support

The trading platform has a 24/7 support on multiple channels, including email, ticket systems and social media. The typical response time from the customer support team is about one hour, and feedback on the customer support generally suggest that the customer service responses are helpful and are not restricted to automated responses.
https://preview.redd.it/8k81zl0a4cc41.jpg?width=808&format=pjpg&auto=webp&s=e30e5b7ca93d2931f49e2dc84025f2fda386eab1
The BitMEX also offers a knowledge base and FAQs which, although they are not necessarily always helpful, may assist and direct users towards the necessary channels to obtain assistance.
BitMEX also offers trading guides which can be accessed here

Conclusion

There would appear to be few complaints online about BitMEX, with most issues relating to technical matters or about the complexities of using the website. Older complaints also appeared to include issues relating to low liquidity, but this no longer appears to be an issue.
BitMEX is clearly not a platform that is not intended for the amateur investor. The interface is complex and therefore it can be very difficult for users to get used to the platform and to even navigate the website.
However, the platform does provide a wide range of tools and once users have experience of the platform they will appreciate the wide range of information that the platform provides.
Visit BitMEX
submitted by bitmex_register to u/bitmex_register [link] [comments]

Peer-to-Peer Binary Options Platform (Beta phase)

Hello traders,
Me, Claudiu Pana, and my team have been working on a project that hopes to bring together the emerging space of cryptocurrencies with the well-known binary trading system, in a new innovative manner that empowers the players. Integrating the most important benefit of what crypto space offers, the peer-to-peer feature, with the binary trading system, users can now trade between themselves without concerns, such as dynamic profits, predatory fees and market manipulation.
The idea of creating this platform appeared because classic binary options platforms, where traders bet against the broker, are prone to fraud and hence banned by regulators in many jurisdictions. Many binary option outlets have been exposed as fraudulent, and here is where we totally differentiate from the troubled classic binary trading systems.
TRIBTC`s innovative approach allows users to trade against each other or join trades other users place. This approach brings together, for the first time, the peer-to-peer concept with binary options trading for cryptocurrency pairs, thus eliminating the possibility of foul play that happens on traditional binary options sites where trading is done against the broker.
TRIBTC`s platform and trading engine are built by industry veterans from the crypto and finance industries. We have been building out our platform throughout 2019 and we are proud to finally **release the beta version to the public.**We aim to give market participants worldwide access to safer and reliable binary options trading through peer-to-peer matching, cutting-edge features, and the power of Bitcoin. We will not rest until the market can fully realize this new paradigm.
Once officially launched, the platform will feature a referral program, where 2,5 percent from all trades a referred user makes will go to their referral, paid in BTC automatically. TRIBTC supports multiple order types and execution options to facilitate any trading strategy, and a simple and intuitive interface for a professional trading experience, all within a high-grade matching engine.After our beta is complete, new features will be added, including new order types and the Touch/No Touch trading method.Our platform supports BTC only for deposits and withdrawals.
TRIBTC`s simple and intuitive interface offers multiple types of trading and transaction execution options to facilitate any trading strategy.The platform provides the following trading pairs: BTC/USD, ETH/USD, LTC/USD, EOS/USD, BNB/USDT, XMUSD, ZEC/USD, ETH/BTC, LTC/BTC, XRP/BTC, BNB/BTC, XMBTC, ZEC/BTC, and EOS/BTC.
Trading can be executed on timeframes of 1, 5, 15, 30 minutes, 1 or 4 hours, 1, 2, 7 or 15 days, a month or in custom intervals, with the possibility of earning 90% of the traded amount in the case of winning trades.Price indexes are sourced and averaged from the Bitfinex and Binance exchanges. The funds are stored in a multi-sig cold wallet, while the withdrawals are manually checked and processed every 24 hours.
User accounts are protected with a 2FA feature, as well as other security features designed to provide a more secure trading environment.The project is entirely funded by the team, while no ICO and no fundraising were hosted, we`re not trying to make false promises. We`re just a team who are trying to prove a point - we can reignite the spark of those who traded binary options in the past and got burned by their brokers.Our platform doesn`t bet against you, it lets you invite of all your friends to join your trade.
Our plan is to invest our 5% profit made (as 2,5% goes for the referral brought by the winner, and other 2,5% for the referral brought by the loser) in advertising as much as it takes to get up there.In the idea of creating a more secure trading environment, currently we`re running a beta phase, from which users can benefit by joining and register on our platform and get used to the platform by placing or joining other users` trades.
The public testnet is now live and the platform can be tested by anyone, 1 testnet BTC is automatically credited to all new accounts registered, while the minimum bet is 0.0005 BTC - so plenty of trades can be executed.
We thank you for reading our description about our project, and hopefully we got you at least curios to check it out, and maybe offer us some feedback!
Claudiu Pana, CEO of TRIBTC.
submitted by tribtc to binaryoptions [link] [comments]

Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading

Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading
AX Trading LLC (AX), a technology-enabled registered broker-dealer and Alternative Trading System (ATS) operator, today announced a strategic partnership with Quant Network a pioneering technology company providing financial and regulatory technology as well as interoperability in financial services, payments and capital markets infrastructure. Through this partnership, Quant Network’s technology, Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of interoperable regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets. George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.” It is expected that the first interoperable digital asset offering may commence as soon as January 2020, and that the AX Trading ATS may be ready to enable and list interoperable digital assets and securities in 2020.
Let’s have a closer look at what that means to truly appreciate the significance of the partnership by covering the basics for those not familiar with wall street.
https://preview.redd.it/2z8h6uqos0m31.png?width=1200&format=png&auto=webp&s=a1c02216ce4eda8f3e06abdb6fe519b36efd1be6

What is an Institutional Investor / Trader?

An institutional investor is an organization that invests on behalf of the organization's members. They consist of hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds, or any other type of money management firm.
Institutional investors account for about three-quarters of the volume on the New York Stock Exchange (which alone handles more than $20 Trillion a year in volume). In the US, Institutional investors own about 80 % of the total market value of the equity (stock) market, which globally is worth more than $73 trillion.
Wall Street refers to the institutional investors I mentioned above whereas Main Street refers collectively to members of the general public who are not accredited investors and the overall economy as a whole.
Whilst the Equity Market is huge, Institutional investors also invest in other securities which are prime to be tokenised such as Real Estate Market (Globally worth $217 trillion), the Debt Market (Globally worth $215 trillion) and the Derivatives Market (Low end estimates at $544 trillion and high-end estimates at $1.2 quadrillion). All of which makes the current market cap for cryptocurrencies look like a drop in the ocean.

Who are AX Trading?

AX Trading is a SEC-registered broker-dealer and Alternative Trading System (ATS) Operator. They are a member of FINRA (Financial Industry Regulatory Authority)and SIPC ( Securities Investor Protection Corporation) regulated authorities. The SEC has some of the most stringent regulations in the world for listing securities and there are fewer than 50 SEC-registered Alternative Trading System Operators in the United States, of which only a handful are currently implementing Digital Assets. Others are awaiting regulatory approval with Coinbase, Circle etc are all looking at getting into this huge market.
https://www.coindesk.com/stonewalled-by-finra-up-to-40-crypto-securities-wait-in-limbo-for-launch
AX Trading have investors and sponsored brokers including the likes of Credit Suisse, (a multinational investment Bank and Financial services company worth $27.5 billion). AX currently have over 800 Institutional traders (these are not individuals, but corporations such as hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds etc).
AX Trading have also partnered with Euronext, the largest Stock Exchange in Europe with a market cap of $4.65 trillion as of 2018, in the creation of Euronext Block which utilises AX Trading.

What is an Alternative Trading System?

An Alternative Trading System (ATS) is an SEC-regulated trading venue which serves as an alternative to trading at a public exchange. ATS account for much of the liquidity found in publicly traded issues worldwide. They are known as multilateral trading facilities in Europe, electronic communication networks (ECNs), cross networks, and call networks
AX is the world’s first “Electronic Trading Network” (ETN) where institutional traders can proactively connect and trade with other counterparties in a secure environment. Unlike traditional stock exchanges/ECNs that show orders to everyone and traditional dark pools/crossing systems that show orders — presumably — to no one, AX allows institutional traders to pick and choose WHOM they want to notify and also WHAT information they want to share with them.
Institutional investors may use an ATS to find counterparties for transactions instead of trading large blocks of shares on national stock exchanges. These actions may be designed to conceal trading from public view since ATS transactions do not appear on national exchange order books. The benefit of using an ATS to execute such orders is that it reduces the domino effect that large trades might have on the price of an equity.

How does AX Trading Work?

The AX Trading process begins when one trader sends an “initiated” order to AX. The order can be routed to the AX ATS via one of our broker sponsors such as Credit Suisse. The initiated order triggers a “Call Auction” on AX, a period of time when the order will rest in AX to be matched against other orders from auction responders.
The Initiator of an AX auction decides who they want to invite to participate in the auction, whether they be all 800+ institutional members or targeted to specific ones, as well as how much info they want to disclose about the order. Based on these instructions, the AX ATS then notifies the members inviting them to participate in the trade.
The invited members can then participate in the trade by either placing buy orders of their own or placing sell orders. At the end of the AX auction period, all orders are brought together, and a match is performed.
In the traditional, continuous market with displayed bids and offers, traders are often chasing liquidity. In other words, the price may move away from them the more they buy or sell to what is commonly called “market impact.” On AX, the advantage of their call auction model is it brings liquidity — in the form of participant orders to the buyer rather than them chasing liquidity.

What is a Security Token?

Security Tokens are different than Utility Tokens or Cryptocurrencies. A security token is a digital representation of a traditional security. It may represent shares in a company, interest in a fund, real estate, art collectables, or essentially any asset a party can own. Anthony Pompliano wrote an article explaining tokenised securities in more detail which you can see here
Security Tokens are digital assets subject to federal security regulations. In layman terms, they are the intersection of digital assets (tokens) with traditional financial products — a new technology improving old things. If cryptocurrencies like Bitcoin are considered “programmable money” then you can consider Security Tokens a version of “programmable ownership.” This means that any asset with ownership can and will be tokenized (public & private equities, debt, real estate, etc).
https://preview.redd.it/21cz6zvus0m31.png?width=569&format=png&auto=webp&s=883eb844e1061cddd585903549dde829098765c2
Quant Network community member David W also wrote an excellent piece on the benefits of tokenisation of assets in a lot more detail than what I will briefly cover here and strongly recommend you check it out.
The Tokenisation of assets is therefore inevitable, because it is a better way to record, exchange and monitor asset ownership for all parties involved. The amounts at stake represent many hundreds of trillions of US dollars

What are the benefits of a security token?

  • Lower Fees — having Smart Contracts and compliance programmed into the token itself removes the need for middlemen, reducing costs. Post Trade businesses such as clearing houses would also no longer be required further reducing costs.
  • 24/7 markets — Currently the major US stock markets trade between 9:30am and 3pm during weekdays only. Trading can be done 24/7 and globally whilst remaining compliant.
  • Fractional Ownership — This greatly increases liquidity for previously illiquid assets. Real estate, Artwork, even assets such as Oil Refineries are already in talks about being tokenised through Overledger. If you have an asset such as an oil refinery worth billions of dollars, then naturally this limits the market should you ever want to sell it. However with fractional ownership you could own a tiny percentage of it and receive profits from the oil refinery based upon the percentage you own, which exponentially increases the number ofpotential buyers, increasing liquidity.
  • Rapid Settlement — Currently it takes 3 working days to settle a securities trade, this can be reduced to minutes by having the asset and fiat represented on a blockchain and handled through smart contracts.
  • Automated compliance — Security tokens are programmable, and rules and regulations are hard-coded into the architecture of the token to ensure they always remain compliant. This means that they can be traded globally and still ensure they respect the relevant countries regulations that the participants are located in.
  • The benefits that a blockchain provide such as transparency, security, immutability, high availability. Regulators can also run a node and verify compliance in real time.

Security Token Issuance Platforms

Security token issuance platforms allow issuers to issue Security tokens that represent the security such as Shares in their company etc in return for capital. This is known as a Primary Market. Importantly it’s not just the issuance that they look after, it’s the whole life cycle of a digital security to ensure they remain continuously in compliance as they are traded etc. They also provide reporting to the issuer so they can see who owns the tokens and what dividends to pay out.
Securitize are one of the leading security tokens issuing platforms. They have created the DS Protocol, a blockchain agnostic protocol for security tokens which manages the whole lifecycle of a digital security, ensuring it remains continuously in compliance. They have issued a number of security tokens on the Ethereum network as well as recently working with IBM to tokenise the Corporate Debt Market (worth $82 Trillion). On the back of this they joined Hyperledger, an open source project which includes Enterprise blockchains such as Hyperledger Fabric which IBM is heavily involved with.
https://tokenpost.com/Quant-Network-Securitize-and-others-join-Hyperledger-blockchain-project-1544
They recently also became the first SEC-registered transfer agent, which means Securitize can now act as the official keeper of records about changes of ownership in securities.
There are many companies in this sector which are utilising various blockchains, Other examples include:
  • Harber — R Token protocol for Ethereum
  • Polymath — ST20 protocol for Ethereum
  • Blockstate — a security token issuance platform recently announced plans to migrate a number of ERC-20 tokens from the public Ethereum blockchain to the permissioned blockchain R3 Corda
  • Dusk — Uses the Dusk blockchain
  • Own — Uses the Own blockchain
And many more such as Nefund, Bankex, Capexmove, Swarm, Symbiont, Tokeny etc

https://preview.redd.it/vr6c7jdzs0m31.png?width=520&format=png&auto=webp&s=88431b27906099bb09f31ef1fdee0222dd96674f

Trading Venues

Whilst the issuance platforms above generally also include their own exchange where the token can be traded on, secondary markets such as those offered through traditional stock exchanges and Alternative Trading Systems provide significantly more liquidity.
Traditional Stock Exchanges have been very active in blockchain with some going through proof of concepts, to those like SIX SDX Digital Exchange which is due to launch later this year. They are using various blockchains and cover the full process from Issuance, Trading and Post Trade / Settlement services. I have briefly outlined which blockchain they are using / testing with along with source to read more about it below:
  • Switzerland’s Stock Exchange — SIX Digital Exchange issue, trading, settlement, custody — Corda — Source
  • Largest Stock Exchange in Germany — Deutsche Borse Franfurt Stock Exchange — Corda — Source and Source
  • South Korea’s Stock Exchange — Korea Exchange — Hyperledger Fabric — Source and Source
  • Japan’s Stock Exchange — Tokyo Stock Exchange — Hyperledger Fabric — Source which the consortium has now grown to 44 companies. Tokyo Stock Exchange are also testing JP Morgan’s Quorum for voting on the blockchain — Source
  • London Stock Exchange Group — Hyperledger Fabric — Source . They are also invested in Nivaura which utilises Ethereum — Source
  • Largest Stock Exchange in Europe — Euronext — Permissioned Ethereum via Liquidshare — Source as well as recently investing in Tokeny a blockchain based project based on public version of Ethereum — Source
  • Singapore Stock Exchange — Ethereum — Source

Post Trade — Central Security Depositories

Situated at the end of the post-trading process, CSDs are systemically important intermediaries. They thereby form a critical part of the securities market’s post-trade infrastructure, as they are where changes of securities ownership are ultimately registered.
CSDs play a special role both as a depository, involving the legal safekeeping and maintenance of securities in a ‘central depository’ on behalf of custodians (both in materialised or dematerialised form); as well as for the issuer, involving the issuance of further securities by issuers, and their onboarding onto CSDs’ platforms.
CSDs are also keeping a number of other important functions, including: dividend, interest, and principal processing; corporate actions including proxy voting; payment to transfer agents, and issuers involved in these processes; securities lending and borrowing; and, provide pledging of share and securities.
Blockchain technology will enable real-time settlement finality in the securities world. This could mean the end of a number of players in the post-trade area, such as central counterparty clearing houses (CCPs), custodians and others. Central Security Despositories (CSD) will still play an important role according to reports:
“CSDs could have an important role to play in a blockchain-based settlement system. As ‘custodians of the code, CSDs could exercise oversight of, and take responsibility for, the operation of the relevant blockchain protocol and any associated smart contracts.” Euroclear Report
Another group of 30 central securities depositories (CSDs) in Europe and Asia are researching possible ways to “join hands” in developing a new infrastructure to custody digital assets. The CSDs will attempt to figure out how to apply their experience in guarding stock certificates to security solutions for crypto assets.
“A new world of tokenized assets and blockchain is coming. It will probably disrupt our role as CSDs. The whole group decided we will be focusing on tokenized assets, not just blockchain but on real digital assets.”
You can read more about how blockchain will affect CSD’s here
Examples of CSD’s in blockchain
  • SIX Digital Exchange and Deutsche Borse are utilising Corda as explained in the trading venues section
  • DTCC the largest in the US process 1.7 Quadrillion US Dollars of securities every year and are planning on moving their Trade Information Warehouse to Axoni’s AXCore Blockchain (Based on permissioned version of Ethereum) later this year — Source
  • Canada CDS are using the Quartz blockchain from Indian IT Services Company Tata Consultancy Services — Source
  • Euroclear in collaboration with the European Investment Bank (EIB), Banco Santander, and EY are developing a blockchain solution — Source
  • French CSD’s too soon go live on Setl Blockchain — Source and Source
  • Russia’s National Settlement Depository is launching a blockchain project using D3ledger (based off Hyperledger) — Source

The Importance Of Interoperability

The evolution of DLT and the wide adoption across industries and across different market segments is resulting in many different ledgers networks, but the ultimate promise of DLT can only be realized when all ledger networks can seamlessly interoperate. — from the recent DTCC whitepaper with Accenture
Some challenges and constraints related to the market infrastructure ecosystem remain open and will need to be addressed in the future to sustain the development of DLT platforms for trading and the post-trade process. At this stage, the questions of interoperability and standardization across these DLT (probably permissioned) platforms remain open and we may see a list of platforms offering no scope for interconnection. This will prevent them from fulfilling the key “distribution” criterion of DLT. Another related challenge that may determine whether or not the technology is adopted is the ability to provide Delivery versus Payment (DvP) settlement, in particular in central bank money. Nevertheless, it is worth mentioning that settlement can also be facilitated in commercial bank money. — https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/technology/lu-token-assets-securities-tomorrow.pdf
It’s clear from the above that interoperability will be crucial in order to unlock the true potential of Distributed Ledger Technology. Issuance platforms will seek to interoperate with as many secondary exchanges as possible to provide maximum liquidity for issuers. Issuance platforms and secondary exchanges are each using a wide range of different blockchains that all need to interoperate as part of the trade process. CSD’s will also need to have interoperability between other CSD’s as well as to the secondary exchanges (again each using different blockchains).

Enter Quant Network’s Overledger

Quant Network’s blockchain operating system, Overledger, provides interoperability between any current and future distributed ledger technology as well as easily connecting Off Chain / Legacy networks as well as plans to connect directly to the Internet. Within 10 months it has proven it can provide interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. All without imposing restrictions on connected chains, being Internet scalable and able to easily integrate into existing networks / infrastructure.
https://preview.redd.it/8p6hi942t0m31.png?width=1920&format=png&auto=webp&s=b0536ea9981306feb8bd95788c66e9a5727a4d58
Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets
https://www.quant.network/blog/redefining-wall-st-with-decentralised-capital-market-infrastructure-the-possibilities-of-quant-networks-overledger-technology-in-regulated-capital-markets
Overledger enables Universal Interoperability where digital assets can move across blockchains so that they can interact with smart contracts on different blockchains. It does this by locking the asset on one blockchain and then representing it on another blockchain either by creating a representing token or representing it via metadata. This will enable all of these different parties such as Issuance platforms, Exchanges, CSD’s, traders etc to move the digital asset from their respective blockchain onto AX Trading’s platform for secure, immediate and immutable trading to take place. Potentially it would even allow Digital Assets / Securities to settled on a public permissionless blockchain such as the recently connected Binance Chain in a completely safe, secure and compliant way.
https://preview.redd.it/a3o9qxq5t0m31.png?width=443&format=png&auto=webp&s=78d7a7e7d47213bbb354336ba9d5ad92c1c2254a
Regulators would be able to run a node and view transactions in real time ensuring that compliance is being kept. Potentially they could also benefit from using Quant Networks Multichain Search capability http://search.quant.network/ to be able to fully track assets as they move across blockchains.
George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.”

Securrency

AX Trading have also partnered with Securrency (who have previously tokenised over $260 million in real estate assets). Securrency provide a protocol that enables security tokens to remain in compliance regardless of what blockchain the token is on. Due to the layered approach that Overledger has adopted from the learnings of TCP/IP, this protocol can be easily integrated on top of Overledger to enable security tokens to move across blockchains as well as ensuring they remain in compliance with regulations programmed into the token.
https://youtu.be/vSQ2fu9iZGs

Delivery vs Payment (DvP)

A DvP transaction involves the settlement of two linked obligations, namely the delivery of securities and the payment of cash. DvP avoids counterparties being exposed to principal risk, i.e. the risk that the seller of securities could deliver but would not receive payment or that the buyer of securities could make payment but would not receive delivery. Following this requirement, a DvP securities settlement mechanism has to ensure that the delivery of securities and the payment of cash are linked in a way where one leg (obligation) of the securities trade is conditioned to the final settlement of the other leg (obligation) of the trade. Thereby final settlement is defined as “the irrevocable and unconditional transfer of an asset or financial instrument, or the discharge of an obligation by the FMI or its participants in accordance with the terms of the underlying contract”. — STELLA — a joint research project of the European Central Bank and the Bank of Japan
We have seen how Overledger can provide interoperability for the securities to move across Issuers platforms, integrate with Stock exchanges, Central Security Depositories and AX Trading. Now we need to be able to ensure that payment is guaranteed and in a way that offers immediate settlement which is irrevocable. To do this we need to represent FIAT on the blockchain so that it can interact with smart contracts and settle transactions on the blockchain.

J.P.Morgan’s Coin

J.P.Morgan is the largest bank in the United States and ranked by S&P Global as the sixth largest bank in the world by total assets as of 2018, to the amount of $2.535 trillion.
J.P. Morgan was the first U.S. bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional clients.
With J.P.Morgan’s $2.6 trillion balance sheet, expertise in blockchain and global payments network, J.P. Morgan can seamlessly and securely transfer and settle money for clients around the world. J.P. Morgan are supervised by banking regulators in the United States and in the international jurisdictions in which it operates.

How does JPM Coin work?

A Buyer purchases JPM coins in advance which get represented on the Permissioned Quorum blockchain ($1 =1 JPM Coin). Quant Network’s Overledger could then provide interoperability to lock those tokens on Quorum and represent those onto another blockchain / AX Trading’s Network. By being able to represent securities and FIAT on the same blockchain (even though the underlying assets are on different blockchains) this provides instant finality / settlements to occur.
Once the seller receives the JPM coin in exchange for the securities they have sold they will be able to redeem them for USD. It also doesn’t necessarily mean that they have to have a JP Morgan account to redeem them, you could imagine in the future that the Bank instead redeems the JPM Coin and credits the users account. Similarly the buyer of the security token redeems the represented token and unlocks the security token on the original blockchain.
You can read more about JP Morgan’s Coin here as well as its use cases
J.P Morgan is betting that its first-mover status and large market share in corporate payments — it banks 80 percent of the companies in the Fortune 500 — will give its technology a good chance of getting adopted, even if other banks create their own coins. “Pretty much every big corporation is our client, and most of the major banks in the world are, too,” Farooq said. “Even if this was limited to JPM clients at the institutional level, it shouldn’t hold us back.”
Overledger enables different securities tokens / digital coins representing FIAT currencies to be brought together from the various permissioned / permissionless blockchains onto one platform where trading / settlement can take place. Overledger is the only technology that can do this today across the leading permissioned and permissionless blockchains as well as existing networks, all in a secure, scalable and easy to integrate way.
https://preview.redd.it/ngt7q7hdt0m31.png?width=738&format=png&auto=webp&s=60166bdc0fcdf72a502e3472a09de5ddb5e1eb69
Quant Network are working with AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange. AX Trading is not just about trading securities but other digital assets such as Bitcoin, Ethereum and potentially even Quant in the Future.
https://preview.redd.it/ibecorcft0m31.png?width=1286&format=png&auto=webp&s=94540cf49654e36a8155f424c2a4bdb5fd549558
This is a multi-trillion dollar market with huge global enterprises, traditional exchanges and global banks are all adopting DLT at a rapid pace and going into production at scale in a matter of months, examples include the NYSE Bakkt launching Bitcoin futures later this month, Swiss Stock Exchange ($1.6 Trillion market Cap) is due to launch their digital exchange running on Corda (SDX) by the end of the year. The DTCC are due to launch their Trade Information Warehouse which processes $10 Trillion of cleared and bilateral derivatives by the end of the year. JP Morgan who transfer $6 Trillion every day are due to launch their JPM coin at the end of year and AX Trading is due to offer their first digital asset by January 2020.
Quant Network’ Overledger enables the bridging of traditional finance infrastructure with the new decentralised finance infrastructure DeFi of the future, helping to redefine Wall Street and Capital Markets.
https://medium.com/@CryptoSeq/wall-street-2-0-17252ffd8919
submitted by xSeq22x to QuantNetwork [link] [comments]

The BankDex Advantage: A Comparison of BankDex with Top Centralised Exchanges

Cryptocurrency exchanges are one of the most vital applications of the Blockchain industry. The capability of accessing crypto assets, trading them and securely storing them away from the bad actors are a huge responsibility that goes beyond the expectations of a conventional exchange. While some of the pioneers in Fintech and Blockchain financial services have managed to explore the crypto world with élan, many have fallen prey to the inherent and vicious cycle of fraud attacks.
In this blog, we take a look at the top centralised competitors of our BankDex decentralised multicurrency exchange and analyse how it fares better than its counterparts.
Even after 10 years since the conception of the first crypto asset, the debate — centralised vs decentralised is still on. The primary distinction between a centralised and decentralised exchange lies in ownership. Although the concept of centralised exchanges have been in existence since long, decentralised exchanges (a model created with the advent of crypto assets and an immutable, transparent ledger) is relatively new. BankDex integrates the best of both concepts on its cross chain platform, enabling a smooth and fast trading experience to its users.
Blockchain allows the creation of a market place for the exchange of assets without oversight or permission and keeping track of the asset ownership without the help pf a third party. The advantages and limitations of the exchanges lay within the bounds of 5 distinct areas namely — anonymity, fees, fiat to crypto transfer, ownership and liquidity. Before we analyse the benefits of BankDex over the top centralised exchanges in market, let’s have a brief look at the working of a centralised exchange.
Centralisation in Cryptocurrency Exchanges
Today, the blockchain industry acts as the marketplace for exchanges that take the role of a trusted third party in asset transfer or exchange. To be more specific, centralised exchanges act as the custodian of user funds, unlike decentralised exchanges were the assets are completely held by the clients themselves. A traditional centralised exchange holding its client’s fiat, crypto assets or both is considered both as a custodian as well as an exchange. Besides, the exchanges which provide functionalities such as margin trading function on lines of a prime broker as well.
Some of the most popular exchanges in the market like Binance and Coinbase are centralised in nature. They act as the conventional gateway to the crypto world. For many, having a cryptocurrency exchange hold their funds is not a problem. However, the same cannot be said of all, especially the institutional investors. Centralised custody in these exchanges often presents the threat of counter party risks.
Working of a centralised exchange
When you deposit funds in a centralised exchange, you are actually giving it money, that is the digital assets in your account or wallet is transferred directly into the bank account or the wallet associated with the exchange. The balance seen in the exchange account or wallet is essentially produced as the result of the database entry which is updated by the cryptocurrency exchange. The funds in the exchange are mingled together with the fund of the exchange. The cryptocurrency exchange is the lone source of trust with regards to the balance of the clients.
The present day cryptocurrency trade is structured in such a way that certain companies hold billions of dollars’ worth of cryptocurrencies of customers. The counterparty risk with is one of the main concerns in crypto trading platforms are centralised by companies that hold the funds, execute trades and trade, finance & leverage for conducting trade on self-owned accounts on the platform. As mentioned earlier, the cryptocurrency exchange platform is the only source of truth for the funds of the exchanges.
The cryptocurrency markets have always urged for three main concepts:
· The funds should be held by appropriate entities only. These entities, be it banks or custodians should be able to keep these assets from theft or loss. Decentralization rose in popularity mainly due to this aspect. In decentralized exchange, the fund is held under the custody of the trader and there is no involvement from any third party.
· Counterparty risks should be centralised or handled by any selected and dedicated entity. No conventional exchange takes these risks upon themselves and are usually handled by clearing houses which may not be competent authority to ensure security. BankDex overcomes this problem through its decentralised solutions.
· The need of a trust less solution. The market needs to implement a trading platform similar to the Bitcoin network that ensures a trustless interaction between the entities involved in the transaction. This will ensure that an investor pays the accurate price and is not cheated or subjected to fraud by the other participants in a trading lifecycle.
The BankDex decentralized multicurrency exchange implements these concepts to create a trading platform that is secure, simple and is accessible by both beginners and seasoned traders.
For more information : https://medium.com/@bankdex.org/the-bankdex-advantage-a-comparison-of-bankdex-with-top-centralised-exchanges-d675f3f4989e
submitted by Bethmotel to BankdexICO [link] [comments]

BankDex ICo

Cryptocurrency exchanges are one of the most vital applications of the Blockchain industry. The capability of accessing crypto assets, trading them and securely storing them away from the bad actors are a huge responsibility that goes beyond the expectations of a conventional exchange. While some of the pioneers in Fintech and Blockchain financial services have managed to explore the crypto world with élan, many have fallen prey to the inherent and vicious cycle of fraud attacks.
In this blog, we take a look at the top centralised competitors of our BankDex decentralised multicurrency exchange and analyse how it fares better than its counterparts.
Even after 10 years since the conception of the first crypto asset, the debate — centralised vs decentralised is still on. The primary distinction between a centralised and decentralised exchange lies in ownership. Although the concept of centralised exchanges have been in existence since long, decentralised exchanges (a model created with the advent of crypto assets and an immutable, transparent ledger) is relatively new. BankDex integrates the best of both concepts on its cross chain platform, enabling a smooth and fast trading experience to its users.
Blockchain allows the creation of a market place for the exchange of assets without oversight or permission and keeping track of the asset ownership without the help pf a third party. The advantages and limitations of the exchanges lay within the bounds of 5 distinct areas namely — anonymity, fees, fiat to crypto transfer, ownership and liquidity. Before we analyse the benefits of BankDex over the top centralised exchanges in market, let’s have a brief look at the working of a centralised exchange.
Centralisation in Cryptocurrency Exchanges
Today, the blockchain industry acts as the marketplace for exchanges that take the role of a trusted third party in asset transfer or exchange. To be more specific, centralised exchanges act as the custodian of user funds, unlike decentralised exchanges were the assets are completely held by the clients themselves. A traditional centralised exchange holding its client’s fiat, crypto assets or both is considered both as a custodian as well as an exchange. Besides, the exchanges which provide functionalities such as margin trading function on lines of a prime broker as well.
Some of the most popular exchanges in the market like Binance and Coinbase are centralised in nature. They act as the conventional gateway to the crypto world. For many, having a cryptocurrency exchange hold their funds is not a problem. However, the same cannot be said of all, especially the institutional investors. Centralised custody in these exchanges often presents the threat of counter party risks.
Working of a centralised exchange
When you deposit funds in a centralised exchange, you are actually giving it money, that is the digital assets in your account or wallet is transferred directly into the bank account or the wallet associated with the exchange. The balance seen in the exchange account or wallet is essentially produced as the result of the database entry which is updated by the cryptocurrency exchange. The funds in the exchange are mingled together with the fund of the exchange. The cryptocurrency exchange is the lone source of trust with regards to the balance of the clients.
The present day cryptocurrency trade is structured in such a way that certain companies hold billions of dollars’ worth of cryptocurrencies of customers. The counterparty risk with is one of the main concerns in crypto trading platforms are centralised by companies that hold the funds, execute trades and trade, finance & leverage for conducting trade on self-owned accounts on the platform. As mentioned earlier, the cryptocurrency exchange platform is the only source of truth for the funds of the exchanges.
The cryptocurrency markets have always urged for three main concepts:
· The funds should be held by appropriate entities only. These entities, be it banks or custodians should be able to keep these assets from theft or loss. Decentralization rose in popularity mainly due to this aspect. In decentralized exchange, the fund is held under the custody of the trader and there is no involvement from any third party.
· Counterparty risks should be centralised or handled by any selected and dedicated entity. No conventional exchange takes these risks upon themselves and are usually handled by clearing houses which may not be competent authority to ensure security. BankDex overcomes this problem through its decentralised solutions.
· The need of a trust less solution. The market needs to implement a trading platform similar to the Bitcoin network that ensures a trustless interaction between the entities involved in the transaction. This will ensure that an investor pays the accurate price and is not cheated or subjected to fraud by the other participants in a trading lifecycle.
The BankDex decentralized multicurrency exchange implements these concepts to create a trading platform that is secure, simple and is accessible by both beginners and seasoned traders.
For more information : https://medium.com/@bankdex.org/the-bankdex-advantage-a-comparison-of-bankdex-with-top-centralised-exchanges-d675f3f4989e
submitted by Joygalz to BankdexICO [link] [comments]

Trustless DeFi SaaS for crypto-to-crypto OTC

Trustless DeFi SaaS for crypto-to-crypto OTC

Market size

Last three years Over-The-Counter cryptocurrency market keeps on growing in volume and clients amount across the globe according to many reports of brokers and companies involved in the process.
OTC turnover in 2018 amounted to more than 5.47 trillion USD equivalent1.

Daily volume 2019


https://preview.redd.it/8uvirrkbby841.png?width=450&format=png&auto=webp&s=ff6182da6a00be6339c262866238276864233f2e

The research part from Capco
1 Based on reports by Bloomberg, Bravenewcoin, Circle, Statista, CCN and 10+ another sources.
2 Crypto exchanges volume
3 DEX daily volume


Why OTC broker (instead of a crypto exchange)?


  • Lack of liquidity — crypto exchanges have low liquidity. OTC desks are good for pushing through large trade orders searching for market liquidity.
  • Price protection, Anonymity — OTC is good for moving large orders which avoids impacting the price, e.g. 1,000 BTC. Order depth will not show up like it does on an exchange.
  • No fiat onramp — few crypto exchanges have a fiat onramp (though Binance is working on it and already have some solutions in place in Asia).
  • Avoid price ‘slippage’ — price slippage occurs on exchanges when the executed price is different to the expected price.
  • Avoid prohibitive crypto exchange limits — the majority of crypto exchanges have prohibitive trading limits. For example, Coinbase limits purchases to $25,000 per day. Kraken only lets you withdraw $2,500 per day and $20,000 per month. Circle imposes withdrawal limit of $3,000 per week.

Who are the main buyers and sellers?

At the moment, the main buyers are hedge funds and the main sellers are miners. In Oct 2018, it was reported in Reddit Rumours that hedge funds were buying large volumes from miners. The main participants trading crypto OTC are:
  • Hedge funds, smaller asset managers, family offices (buyers).
  • Miners (sellers).
  • Regulated broker-dealers (on account).
  • Crypto exchange OTC desks (on account).

What are the main problems?

  • Settlement risk — there is no guarantee the asset will be delivered, or cash will be paid. Coin transfer often happens much faster than the wire payment transfer (often by several hours).
  • No custody solution — most OTC brokers don’t provide a custody solution (or provide a very limited service), which can increase settlement and operational risk.
  • Multi-jurisdictional KYC issues — dealing with countries with poor KYC regulations can be a deal breaker.
  • If you execute through an OTC broker you need, for example, to deliverthe ETH to the broker. There is no guarantee the broker's client will pay.
  • The larger the order the greater the risk of default with multiple counterparties.
  • OTC crypto is missing the monitoring and surveillance tools of traditional trading systems.

What we do?

ROX Capital AG team is working on Decentralised Finance technology which brings fully trustless direct asset exchange tools to customers of OTC companies and crypto exchanges.
ROX is designed the platform that helps to build trust between exchange members based on a trustless technology which retains assets control by beneficiaries on any stage of a process.
The system of Smart Contracts provides a simple tool that help participants exchange Proof-of-Funds in seconds without moving funds to a broker or third party escrow until needed amount and price requirements achieved from both sides.

https://preview.redd.it/whg9i0tfby841.png?width=2030&format=png&auto=webp&s=cef1a68fe3b1bdf0e958cbdc6b8f72736b2ec613

Features

  • SaaS Provider for OTC and other Institutionals
  • Trustless Smart Contract Network4
  • Impersonal Orders with Proof-of-Funds from KYC Verified Members
  • Integration with third party OTC desk
  • Referral program for Agents and Deal Merge Fee Trustee
  • Onchain trustless deals initiate by manager or beneficiary
  • Cross-chain5 Trustless DLT System
4 Trustless Network is based on blockchain opportunities, the system provides manager or beneficiary to setup terms for each deal, including price, referral fee amount, choose exact whitelisted tokens for both sides of exchange, also minimum transaction volume or fix lot for change. The all details are transparent and available in blockchain comments and through the provided interface for both sides.
5 On the first stage we provide Ethereum ERC-20 based MVP which is demonstrate the concept and during the public Beta-test continue working with Bitcoin blockchain integration stability.

Two or more OTC brokers can merge any deal, set-up needed fee size and share it through built in partner program.
Time is saved for all market participants — from agreement to transfer receipt both sides could spend less than 1 hour, instead of days or weeks.
Anonymity is protected — large impersonal reliable orders and no needed meetings anymore.
As the majority of brokers execute based on Request for Quote (RFQ) and ‘Fill or Kill’ (FOK). That’s why we created four types of contracts:
  1. FOK with two participants and fix lot order.
  2. FOK with two participants and minimum order amount.
  3. One side offer can be filled with unlimited transactions from second side and minimum order amount.
  4. One side offer can be filled with unlimited transactions from second side with fix lot order.
Contracts can be declined by initiator any time before lot or minimum order amount fulfilment. If declined, all funds returns to senders without any fees. Same as escrow but trustless.

Options

ROXY provides:
  1. Web app cabinet, where broker prepare a deal in three simple steps: choosing contract type, fill up details (tokens for buyer and seller, price, lot/minimum amount, fee, other additional details) and creates contract with transparent accepted by participants terms.
  2. White label integration.
The service is provided under an agreement B2B to a companies authorised to proceed exchanges of crypto assets for their customers according to regulatory agreements in the countries where entities operating.


ROXY launch Q1, 2020Early access is going in January
[Request for beta](mailto:[email protected])
Follow updates in telegram channel.
submitted by mrAlexRoyce to Bitcoin [link] [comments]

Trustless DeFi SaaS for crypto-to-crypto OTC

Trustless DeFi SaaS for crypto-to-crypto OTC

Market size

Last three years Over-The-Counter cryptocurrency market keeps on growing in volume and clients amount across the globe according to many reports of brokers and companies involved in the process.
OTC turnover in 2018 amounted to more than 5.47 trillion USD equivalent1.

Daily volume 2019

https://preview.redd.it/gukxa53fmd841.png?width=450&format=png&auto=webp&s=056156f7d62624e35395a5a41cacbb7a93432115
The research part from Capco
1 Based on reports by Bloomberg, Bravenewcoin, Circle, Statista, CCN and 10+ another sources.
2 Crypto exchanges volume
3 DEX daily volume


Why OTC broker (instead of a crypto exchange)?


  • Lack of liquidity — crypto exchanges have low liquidity. OTC desks are good for pushing through large trade orders searching for market liquidity.
  • Price protection, Anonymity — OTC is good for moving large orders which avoids impacting the price, e.g. 1,000 BTC. Order depth will not show up like it does on an exchange.
  • No fiat onramp — few crypto exchanges have a fiat onramp (though Binance is working on it and already have some solutions in place in Asia).
  • Avoid price ‘slippage’ — price slippage occurs on exchanges when the executed price is different to the expected price.
  • Avoid prohibitive crypto exchange limits — the majority of crypto exchanges have prohibitive trading limits. For example, Coinbase limits purchases to $25,000 per day. Kraken only lets you withdraw $2,500 per day and $20,000 per month. Circle imposes withdrawal limit of $3,000 per week.

Who are the main buyers and sellers?

At the moment, the main buyers are hedge funds and the main sellers are miners. In Oct 2018, it was reported in Reddit Rumours that hedge funds were buying large volumes from miners. The main participants trading crypto OTC are:
  • Hedge funds, smaller asset managers, family offices (buyers).
  • Miners (sellers).
  • Regulated broker-dealers (on account).
  • Crypto exchange OTC desks (on account).

What are the main problems?

  • Settlement risk — there is no guarantee the asset will be delivered, or cash will be paid. Coin transfer often happens much faster than the wire payment transfer (often by several hours).
  • No custody solution — most OTC brokers don’t provide a custody solution (or provide a very limited service), which can increase settlement and operational risk.
  • Multi-jurisdictional KYC issues — dealing with countries with poor KYC regulations can be a deal breaker.
  • If you execute through an OTC broker you need, for example, to deliverthe ETH to the broker. There is no guarantee the broker's client will pay.
  • The larger the order the greater the risk of default with multiple counterparties.
  • OTC crypto is missing the monitoring and surveillance tools of traditional trading systems.

What we do?

ROX Capital AG team is working on Decentralised Finance technology which brings fully trustless direct asset exchange tools to customers of OTC companies and crypto exchanges.
ROX is designed the platform that helps to build trust between exchange members based on a trustless technology which retains assets control by beneficiaries on any stage of a process.
The system of Smart Contracts provides a simple tool that help participants exchange Proof-of-Funds in seconds without moving funds to a broker or third party escrow until needed amount and price requirements achieved from both sides.
https://preview.redd.it/oesc6lynmd841.png?width=2030&format=png&auto=webp&s=f5ac2130fa83ebf6ee61ab97d9ea54963efa5b04

Features

  • SaaS Provider for OTC and other Institutionals
  • Trustless Smart Contract Network4
  • Impersonal Orders with Proof-of-Funds from KYC Verified Members
  • Integration with third party OTC desk
  • Referral program for Agents and Deal Merge Fee Trustee
  • Onchain trustless deals initiate by manager or beneficiary
  • Cross-chain5 Trustless DLT System
4 Trustless Network is based on blockchain opportunities, the system provides manager or beneficiary to setup terms for each deal, including price, referral fee amount, choose exact whitelisted tokens for both sides of exchange, also minimum transaction volume or fix lot for change. The all details are transparent and available in blockchain comments and through the provided interface for both sides.
5 On the first stage we provide Ethereum ERC-20 based MVP which is demonstrate the concept and during the public Beta-test continue working with Bitcoin blockchain integration stability.

Two or more OTC brokers can merge any deal, set-up needed fee size and share it through built in partner program.
Time is saved for all market participants — from agreement to transfer receipt both sides could spend less than 1 hour, instead of days or weeks.
Anonymity is protected — large impersonal reliable orders and no needed meetings anymore.
As the majority of brokers execute based on Request for Quote (RFQ) and ‘Fill or Kill’ (FOK). That’s why we created four types of contracts:
  1. FOK with two participants and fix lot order.
  2. FOK with two participants and minimum order amount.
  3. One side offer can be filled with unlimited transactions from second side and minimum order amount.
  4. One side offer can be filled with unlimited transactions from second side with fix lot order.
Contracts can be declined by initiator any time before lot or minimum order amount fulfilment. If declined, all funds returns to senders without any fees. Same as escrow but trustless.

Options

ROXY provides:
  1. Web app cabinet, where broker prepare a deal in three simple steps: choosing contract type, fill up details (tokens for buyer and seller, price, lot/minimum amount, fee, other additional details) and creates contract with transparent accepted by participants terms.
  2. White label integration.
The service is provided under an agreement B2B to a companies authorised to proceed exchanges of crypto assets for their customers according to regulatory agreements in the countries where entities operating.


ROXY launch Q1, 2020 Early access is going in January
[Request for beta](mailto:[email protected])
Follow updates in telegram channel.
submitted by mrAlexRoyce to u/mrAlexRoyce [link] [comments]

An open letter to the community - We need to put our money where our mouths are and support decentralization and dApps

Hey everyone,
As I'm sure you all know full well, early adoption of crypto is primarily speculative trading, so this post is gonna focus mainly on the problems with trading in this space right now (centralized exchanges, regulations, lack of investment products, etc), and how we can shift our mindsets as a community to put our money where our mouth is and rally behind startups doing the right things (decentralized exchanges, dApps, protocols and necessary infrastructure).
Why? Because for the first time in history we have a disruptive new technology that can really change the landscape in every industry imaginable, and we are at the stage where we're planting the seeds of these new products and companies, so why not support the right ones so we can realize the future we're all envisioning?
I recently wrote an article on this on Hackernoon here: https://hackernoon.com/its-time-to-address-the-massive-problems-of-centralized-exchanges-ac2cfb66bef8, but I thought I'd expand on it and share my thoughts on how to move this space forward in terms of getting more dApp adoption and usage.

Who uses dApps anyways?

Blockgeeks just published a report on dApp usage for those interested, there is definitely some growth but since the bear market it has definitely tapered off: https://blockgeeks.com/guides/report-dapps-november-2018/
It's obviously nowhere near mainstream adoption, but it's a great start, so there's hope! There's definitely a ton of things that should immediately be addressed and are of high importance IMO, so I'm going to lay them out:

First, we need to address the massive problems of centralized exchanges

Bitcoin aside, the crypto space as a whole is still pretty young, the current experience of trading crypto assets is understandably a fragmented experience with scattered pockets of liquidity, and a highly technical and high friction process. But the irony is that we have the technology to avoid the security flaws that plague centralized exchanges and the adoption of crypto - decentralized trading.
There are a ton of centralized exchanges available to the public today, but a much smaller subset of these exchanges are properly regulated, not to mention trustworthy and reliable. I know the pro traders out there might say, "Well DEXes aren't fast enough, or I can't run bots on them yet". That's fair, but if you want to see them succeed some day, every trade helps. If it's a trade that you think is executable on a DEX, do it there instead of on a centralized one. That's how adoption happens, one user at a time.
While industry pioneers like Coinbase have pushed the space forward and newer entrants like Binance raised the bar for the alt-coin trading experience, the industry still suffers from constant hacks and malicious acts.
We need to stop relying on centralized trading/hot wallets as they are huge security risks As far as we know, over $1 billion worth of crypto assets have been hacked & stolen from centralized exchanges in 2018 alone.
Here's the biggest incidents in 2018:
The root cause of this is that centralized wallets are increasingly large honeypots.
The nature of a centralized exchange dictates that some trusted third party is storing the crypto assets of its users to create a pool of liquidity, this being done mostly by aggregating funds into exchange-owned digital wallets where assets from users are pooled into.
Millions of people could lose not just money but also their identity and data handed over to centralized exchanges as well.
While we're still in a bear market this may not happen as frequent, but it's reasonable to be expect that in the next bull-run the frequency and severity of attacks will only rise and a scenario in which an attack as widespread as the recent 50 million user Facebook hack — where both private data and money were stolen — could happen. There's already plenty of exchanges that are careless with handling user identity, handing over your personal ID is not a trivial matter and exchanges should follow the best practices to store and secure them if they're asking for them.

Second, we need clearer, more sensible regulation that fosters innovation and protects investors

This may be an unpopular opinion around these parts, but sensible regulation is good for both the industry and users, to ensure exchanges coming online meet certain requirements, so we're not operating and trading in this wild wild west of shady exchanges.
People who trade today need to have a pretty damn high appetite and tolerance for risk, not to mention an acute ability to discern legitimate investments from the rampant exit scams and phishing attacks. (Just see yesterday's thread about the guy's dad who bought into Onecoin on the advice of a "friend").
The vague stance on the part of governments also means many crypto startups operate in a regulatory grey area (I have first hand experience with this working in the space). The SEC only recently clarified that they view Bitcoin and Ethereum as not a security token, meaning it wouldn’t be subject to existing securities laws.
IMO the current lack of regulatory clarity has lead to a low barrier of entry for operating crypto exchanges, however this is starting to change as seen with the recent EtherDelta SEC charges, they're clearly making a statement now that you need to follow the laws when you open an exchange.
But we can do better, and push lawmakers to create more defined rules that we need to play by, and at the same time educate them so they understand not just the technology, but the implications and potential use cases and how we can get there while allowing companies to innovate, new startups to rise, all while protecting consumers. That way we'll have more legal clarity as the industry matures that is business friendly.

Third, we need a more diversified set of investment products/options for crypto. More wealth generated = more growth and adoption

Up until recently, you were only able to purchase tokens on their own from an exchange. Today, we are starting to see an emergence of basic index funds such as the new Coinbase Bundle and Bitwise. It wasn’t until late 2017 that we saw the introduction of Bitcoin Futures from CBOE and CME.
We expect new companies to continue entering this arena, especially crypto ETFs (ie: Bakkt in Jan 2019 maybe?), as well as other attempts at index funds or derivatives.
There's a bunch of teams doing great stuff:

Lastly, we need to punish greed and reward companies doing the right things

While it’s not a problem particularly limited to centralized exchanges, it’s been reported that listing a token can cost as much as $3 million. In contrast, listing a stock on NASDAQ costs $125k to $300k plus annual maintenance fees.
This is just one example of the greed exhibited by those who have leverage and the middlemen who stand to profit in between (consultants, brokers, ICO firms, etc). These high fees dampen innovation as they’re too great of a cost to bear for most token/ICO projects. This is crucial for most projects as they need liquidity to bootstrap their network and to remain favourable with the community that invested in them.
At least 7 of the top 10 exchanges engaging in excessive wash trading from 12x to over 100x their true volume.
Foul play
Plenty of centralized exchanges have been suspected and accused of wash trading (creating fake volume), insider trading, and price manipulation.
High user trading fees
As centralized exchanges carry more risk, and have more opaque control of their platform, they often charge higher fees compared to a decentralized exchange.
Withdrawal limits
Centralized exchanges impose a withdrawal limit, as a security measure to limit the amount that can be withdrawn at once. However, there’s also a misalignment of incentives, as they stand to benefit when you keep your funds locked on their platform so they can maximize trading fees
There's a bunch of great projects and base layer infrastructure that people should look into and support, not just the protocols but also startups building on top of them, some of my fav protocols include:
Personally I'm working in one of the many, many startups in the space trying to build on top of these decentralized infrastructures to give everyone a more seamless experience to access, trade, and use crypto. But you can imagine how hard it is to gain any traction much less build a sustainable business especially in a bear market like this, and when everyone has either completely lost their motivation or still flocking to centralized exchanges to chase pumps knowing full well the risks and unethical practices.
Cool story, what are you doing about it?
I work with a team called the LakeProject, and we're a group of people that came together because we believe that decentralized platforms will address a lot of these concerns, so we're putting our money where our mouth is and building them. If you want to help or learn more about what we're doing here's our site: http://lakeproject.co. We also built our first decentralized product here which is a trading platform built on 0x: https://trade.lakeproject.co

In conclusion - Vote with your money and your time, it makes a difference

I hope this post made sense and I made somewhat of a decent case (?) on why we need to shift our mindset from simply trading and hodling to proactively choosing where to participate, what dApps to use, and which startups to support.
IMHO this is key for adoption and it will seriously help startups (like ours) to grow and be able to make a difference in the industry and push forward and pioneer a new paradigm of operating a decentralized business. I think everyone in the space right now is still learning and trying to understand how that might look in the future, but the more support and usage we get, the sooner we'll learn and the brighter our future will be.
If you've gotten this far, thanks for putting up with my clickbaity title and reading this thread :)
submitted by matt-lakeproject to CryptoCurrency [link] [comments]

What is AhrvoDEEX?

Ahrvo is a $0 commission social trading platform that provides daily rankings for over 8000 stocks and ETFs. Ahrvo’s proprietary ranking system exploits and capitalizes on patterns found in the historical and projected stock market and company-specific data in order to consistency find the best stocks. Ahrvo’s patent-protected software integrates quantitative and social investing. Fostering an environment where users can make profitable trades and engage other participants within the Ahrvo community to discuss trading strategies. Ahrvo Fantasy Investing League (AFIL) awards cash prizes monthly to the top finisher in its investing competition. Participants can create public or private investing leagues to compete against family and friends. Features include real-time prices and stock alerts, Wall Street consensus data, quantitative company profiles, proprietary buy and sell signals, 300 ranked investment themes, among others. The platform is currently available on iOS and Android.
About AhrvoDEEX Company Overview Ahrvo is a financial technology company created in March 2017. Ahrvo’s proprietary multi-factor ranking system and resulting AhrvoScoresTM help investors and traders of all backgrounds discover stock market winners and make timely and profitable investment decisions among more than 8000 stocks and ETFs. Ahrvo’s proprietary equity scoring model uses predictive analytics and data mining techniques to uncover and exploit patterns found in historical and projected stock market data in order to find the best stocks. AhrvoScores are derived using the four main drivers of stock price performance -- Quality, Value, Growth, and Momentum. Each factor adjusts to stock market conditions creating consistently robust AhrvoScores. It is simple: stocks with high AhrvoScores consistently outperform the market; stocks with low scores underperform. This streamlines the stock discovery process as a group of top rated investment ideas is curated for users daily.
Problem Clearinghouses and other intermediaries cost the brokerage industry billions of dollars a year, creating bottlenecks that limit order-matching transparency and settlement speed. Wall Street lacks objectivity and often produces inaccurate equity ratings and price targets. For example, in 2017 only 5% of the 500 S&P companies were rated ‘sell’. This leaves investors and traders without a roadmap to find stocks that are suitable for investment. A study conducted in 2016 found that from 1981 to 2016 the top 10 percent of stocks analysts were most bullish (optimistic) about generally performed worse than the 10 percent of stocks analyst were bearish (pessimistic) about. In fact, an investor who bought stocks analysts were bearish on over that time period would have gained 15% in excess return over the following year relative to the stocks analysts were bullish on.
Solution AhrvoDEEX is a peer-to-peer decentralized equity exchange that enables profitable trading by using multifactor ranking systems and deep learning algorithms to create smart equity scores and price targets that streamline the decision-making process. AhrvoDEEX transaction speed is comparable to centralized exchanges and much faster than Bitcoin and Ethereum. Centralized exchanges settle in 1 to 3 seconds. Ethereum DEX transactions take ~3 minutes. Bitcoin transactions take 10 minutes to settle but can often take longer. Transactions on AhrvoDEEX settle in ~3 to 5 seconds. Ahrvo’s proprietary equity scoring model looks at over 4 dozen subfactors that are highly correlated with price performance, subsequently grouping them into four main factors. For the past ten years, our system has consistently outperformed the stock market (benchmark Russell 3000 w/dividends). The model's performance results were created by a 3rd party firm, EQM Capital LLC.
Competitive Advantage
Patent Protection Ahrvo is building the first blockchain-based decentralized equity exchanged powered by artificial intelligence. Over the past two years, Ahrvo’s management team has garnered the necessary protection for its growing suite of investing and trading solutions. Ahrvo has filed two provisional patents (March 2017/November 2018) and one utility patent (March 2018). Pending patents cover existing and upcoming products and features that are under-development or slated for release. In addition, native aspects of the network's protocol and integration of multifactor ranking systems and neural networks into a peer-to-peer equity exchange are covered.
Traditional Broker Experience An advantage of being a traditional broker instead of a tokenized exchange is the ability to custody and onboard traditional equities. Tokenized platforms frequently state, “we are only a software firm and do not participate in regulated activities such as custodial or clearing services, order execution, investment advice, asset management, and other such financial services.” We believe this is to their detriment. Ahrvo’s custodian platform will offer front and back office services for firms. By focusing on a larger market (equities vs. cryptocurrency), AhrvoDEEX growth should exceed tokenized competitors.
Competent Blockchain Developers Ahrvo is working with a seasoned team of blockchain developers. The development firm is CMMI Level 3 and ISO 9001: 2015 certified. In total, we have access to a team of 35 blockchain developers but will be working with a team of 4-5 developers initially. Their experience includes: launching public and private blockchain by forking, creating native coins, changing specifications like reward logic, inflation rate, etc., and configuring mining tools.
Infrastructure Current market participants (mainly Ravencoin and Equibit) are forks of Bitcoin. We view this as a structural impediment given the nature of the industry (high transaction volume). The consensus protocol of their blockchains is Proof of Work (POW). In POW, miners require a lot of energy to validate transactions. The implicit and explicit cost associated with bitcoin-based platforms has become apparent when transaction volumes rise with the price of the underlying cryptocurrency. Ahrvo’s blockchain will be forked from Stellar, and use Proof of Stake (POS)- a more cost-efficient and environmentally friendly consensus protocol.
EXCHANGE LIST
Binance
Kucoin
Bibox
Huobi
SECURE WALLET
Ledgerwallet
Trezor
Ellipal
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The BankDex Advantage: A Comparison of BankDex with Top Centralised Exchanges

The BankDex Advantage: A Comparison of BankDex with Top Centralised Exchanges
Introduction
Cryptocurrency exchanges are one of the most vital applications of the Blockchain industry. The capability of accessing crypto assets, trading them and securely storing them away from the bad actors are a huge responsibility that goes beyond the expectations of a conventional exchange. While some of the pioneers in Fintech and Blockchain financial services have managed to explore the crypto world with élan, many have fallen prey to the inherent and vicious cycle of fraud attacks.
In this blog, we take a look at the top centralised competitors of our BankDex decentralised multicurrency exchange and analyse how it fares better than its counterparts.
Even after 10 years since the conception of the first crypto asset, the debate — centralised vs decentralised is still on. The primary distinction between a centralised and decentralised exchange lies in ownership. Although the concept of centralised exchanges have been in existence since long, decentralised exchanges (a model created with the advent of crypto assets and an immutable, transparent ledger) is relatively new. BankDex integrates the best of both concepts on its cross chain platform, enabling a smooth and fast trading experience to its users.
Blockchain allows the creation of a market place for the exchange of assets without oversight or permission and keeping track of the asset ownership without the help pf a third party. The advantages and limitations of the exchanges lay within the bounds of 5 distinct areas namely — anonymity, fees, fiat to crypto transfer, ownership and liquidity. Before we analyse the benefits of BankDex over the top centralised exchanges in market, let’s have a brief look at the working of a centralised exchange.
Centralisation in Cryptocurrency Exchanges
Today, the blockchain industry acts as the marketplace for exchanges that take the role of a trusted third party in asset transfer or exchange. To be more specific, centralised exchanges act as the custodian of user funds, unlike decentralised exchanges were the assets are completely held by the clients themselves. A traditional centralised exchange holding its client’s fiat, crypto assets or both is considered both as a custodian as well as an exchange. Besides, the exchanges which provide functionalities such as margin trading function on lines of a prime broker as well.
Some of the most popular exchanges in the market like Binance and Coinbase are centralised in nature. They act as the conventional gateway to the crypto world. For many, having a cryptocurrency exchange hold their funds is not a problem. However, the same cannot be said of all, especially the institutional investors. Centralised custody in these exchanges often presents the threat of counter party risks.
Working of a centralised exchange
When you deposit funds in a centralised exchange, you are actually giving it money, that is the digital assets in your account or wallet is transferred directly into the bank account or the wallet associated with the exchange. The balance seen in the exchange account or wallet is essentially produced as the result of the database entry which is updated by the cryptocurrency exchange. The funds in the exchange are mingled together with the fund of the exchange. The cryptocurrency exchange is the lone source of trust with regards to the balance of the clients.

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The present day cryptocurrency trade is structured in such a way that certain companies hold billions of dollars’ worth of cryptocurrencies of customers. The counterparty risk with is one of the main concerns in crypto trading platforms are centralised by companies that hold the funds, execute trades and trade, finance & leverage for conducting trade on self-owned accounts on the platform. As mentioned earlier, the cryptocurrency exchange platform is the only source of truth for the funds of the exchanges.
The cryptocurrency markets have always urged for three main concepts:
· The funds should be held by appropriate entities only. These entities, be it banks or custodians should be able to keep these assets from theft or loss. Decentralization rose in popularity mainly due to this aspect. In decentralized exchange, the fund is held under the custody of the trader and there is no involvement from any third party.
· Counterparty risks should be centralised or handled by any selected and dedicated entity. No conventional exchange takes these risks upon themselves and are usually handled by clearing houses which may not be competent authority to ensure security. BankDex overcomes this problem through its decentralised solutions.
· The need of a trust less solution. The market needs to implement a trading platform similar to the Bitcoin network that ensures a trustless interaction between the entities involved in the transaction. This will ensure that an investor pays the accurate price and is not cheated or subjected to fraud by the other participants in a trading lifecycle.
The BankDex decentralized multicurrency exchange implements these concepts to create a trading platform that is secure, simple and is accessible by both beginners and seasoned traders.
BankDex vs Popular Centralised Exchanges: A Comparison Analysis

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Best Crypto Trading Bots 2019

Best Crypto Trading Bots 2019
WolfpackBOT - The World's Fastest Crypto Trading Bot

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There are basically two different ways you can make mazuma from digital currencies. You can purchase a couple of coins currently, hold them for an extensive period and offer them after the esteem has risen significantly or you can get started with exchanging digital forms of money, here once more, you can exchange physically or run with the best crypto exchanging bots. While holding cryptographic money for a more drawn out term has turned out to be fulfilling, it takes a bounty of time and tolerance for you to optically observe the estimation of your speculation increase.If you are somebody, who does not have the persistence to hang tight for so long, at that point digital currency trading provides you with the immaculate chance to make some mazuma. Numerous prosperous digital currency dealers do recommend you purchase low and sell high. In any case, this is easier verbalized than done.
Digital currencies have been cosmically unpredictable since the earliest reference point. They are the main tradable resources whose esteem shifts in twofold digit rates every day. The cost does not generally go up either. Along these lines, timing the market is the way to turning into a prosperous cryptographic money merchant.
Exchanging digital money isn't any advanced science. All you require is a record on a digital money trade and some cryptographic money in your wallet. This would have been the situation, had you started exchanging these computerized resources route in 2010.
Presently, on the off chance that you try to put in any limitation request on any famous cryptographic money trade, you will outwardly see another application set appropriate above you're, putting forth a superior arrangement. Hence, you are constrained to put orders at market esteem.
The way that a superior offer quickly negated your offer does not assign that somebody is continually crushing before the PC. You just set off crypto exchanging bot when you submitted your request. The best bitcoin exchanging bots have surmounted the whole cryptographic money exchanging biological system, and this is primarily because of the way that they are more effective than people, particularly when it comes down to exchanging.
Presently that you ken that bots have surmounted the crypto exchanging market, you more likely than not understood as of now that the chances of making mazuma when piled facing a great many bots are cosmically svelte.
You could ace all the distinctive specialized investigation strategies and exceed the bots. In any case, in addition to the fact that this is tedious withal very tedious. So instead of investing more energy finding out about the specialized investigation, you can set up the crypto exchanging bots all alone. By the end of this article, not exclusively will you ken probably the most profitably rewarding cryptographic money exchanging bots out there, yet moreover will be enabled with the intelligence of winnowing your very own exchanging bot later on.
Variables to Look for When Culling the Best Crypto Trading Bots
  1. Dependability
A standout amongst the most vital viewpoints to consider is the dependability of an exchanging bot. You would not operate to lose on a brilliant open door because your crypto bot went disconnected or stopped working for quite a while.
You may contend that there is no real way to make sure about the dependability of a specific exchanging bot. Notwithstanding, you aren't the just a single using a bot. Scan for what alternate clients who have used a particular bot need to verbally express about its consistent quality or basically allude to our rundown of the best bitcoin exchanging bots underneath.
  1. Security
With regards to cryptographic forms of money, you can't inculpate anybody yet yourself if there should be an occurrence of a hack. When you initiate using an exchanging bot, you are giving the bot access to your mazuma. This can be very jeopardous, particularly if the exchanging bot is beginning in the field.
There is no telling how secure a specific bot is. In this way, while separating an exchanging bot, complete quintessential research and winnow a bot that has been broadly extolled for its security.
  1. Productivity
Everything comes down to this fundamental part. Is the bot profitably worthwhile or not? An inquiry for which it is elusive an answer. The primary reason you chose to run with an exchanging bot is to benefit over its exchanging ability. There is no influential pertinence in using a bot that isn't profitably rewarding. In this way, discover the productivity of a bot up to you put both your time and mazuma into it.
  1. Straightforwardness
The fundamental motivation behind why digital currency rose to acclaim is that the entire system is plenarily straightforward. There is the wrong spot for any injustice. The equivalent ought average even from the exchanging bot that you choose to run with.
Attempt to winnow a bot whose engineers are unmistakable for their work in the network. Straightforwardness benefits to fabricate trust as well as also profits you to connect with the ideal individuals to adjust any issue.
  1. Simplicity of profit
The entire cogency of running with a robotized bitcoin exchanging is to make the whole procedure of transferring cryptographic forms of money simple for everybody. A bot which accompanies a simple to use interface is the one that is exceptionally well known. Having the capacity to control the bots with only a couple of snaps of the mouse is something you should pay individual mind to, in the bot that you choose to use.
Considering every one of the variables we have arranged a rundown of the best ten digital currency exchanging bots in 2019, the review will be unendingly refreshed with the goal that data remains apropos.
Top 10 Best Crypto Trading Bots in 2019
  1. Cryptohopper
This may be a new bot in the crypto exchanging market. In any case, this newcomer has figured out how to blow some people's minds because of the comprehensive exhibit of highlights that this bot gives. One of the defeats of most exchanging bots is that they kept running on your neighborhood machine. This betokens they run just when you have turned on your PC.
With the lift in enthusiasm for cloud-predicated advancements, Cryptohopper uses cloud innovation to keep the bot running day in and day out. By running the bot on a cloud, clients will most likely put in exchange requests notwithstanding amid the night. In this manner, no open door is missed.
Another critical reason that prompted the lift in the notoriety of Cryptohopper is its simplicity of usage, particularly for the tyro. The bot has incorporated with an outside exchanging signaller. This assigns anybody can initiate using this bot by running it on autopilot. This is a help to the nascent dealers, who need not stress over setting exchanging signals for their bot. The bot withal gives progressively experienced clients a chance to mess around and set their own exchanging signals. Along these lines, it is satisfying the desiderata of both. Aside from this, the bot is incidentally outfitted with highlights, for example, trailing stops, specialized examination, formats, and backtesting. Formats benefit you to design a nascent setting for your bot quickly, and specialized investigation sanctions you to redo and arrange your own settings.
Like every extraordinary thing, the crypto container comes with a sticker price fastened to it. The cost starts from $19 every month for the fundamental arrangement and goes up to $99 per month if you operate their most extravagant arrangement. When you buy into any of the organizations, you can start using the bot on prominent trades like Binance, Huboi, Kucoin, Bittrex, Coinbase, Poloniex, Kraken, Cryptopia, and Bitfinex. On the off chance that you are slanted to spend the additional buck on an exchanging bot, at that point Cryptohopper is an extraordinary separate.
  1. 3Commas
Even though 3Commas bot is nascent to the exchanging bot scene, it could give its clients huge increases, notwithstanding amid the crypto bear showcase.
The new element that dissevers this bot from other bots is its workforce to trail any crypto advertise. This authorizes the bot to close the exchange at the most profitably excellent position, yet the objective addition set by the utilizer had just been come to. This element benefits enormously amid the crypto bull run. Additionally, the bot adventitiously endorses clients to exchange numerous cryptographic forms of money simultaneously. In this manner, it is not passing up any great exchanging opportunity that goes along the way. The bot is set up on the cloud and is available through the site. This betokens the bot runs 24X7. The bot can be designed with Binance and Bittrex at this moment and increasingly legitimate trades, for example, BitFinex, Poloniex, KuCoin, and so forth will be coordinated anon.
The 3Commas comes with a sticker price appended to it. The starter plan will cost you $24, and the most luxurious genius pack would set you back by $82. On the off chance that you operate to give crypto bot exchanging a go, at that point, you could use the 3Commas starter plan and later peregrinate to the more rich schemes.
  1. Gunbot
This is another mainstream exchanging bot with more than 6000 dynamic merchants using its lodging on a quotidian substructure. Good with a few exchanging stages including Binance and GDAX, it very well may be kept running on your nearby PC. This can keep running on Windows, Linus, and the Mac stages, so running on your neighborhood machine would not be a bind.
The bot has 32 diverse pre-arranged exchanging systems which give clients a wide cluster of choices to induce some automated revenue. Among these techniques, the three most well-known ones are the Bollinger band, step addition, and ping pong. Numerous clients have detailed having made a bounty of benefits with the BB procedures. Gunbot isn't in freedom to use and accompanies a one-time level rate running from 0.1BTC to 0.3BTC, contingent upon the highlights that you would savor to optically observe in the bot. Aside from this, the bot supplementally comes as a Lite rendition that has encircled highlights yet can be habituated to test around with the lesser measure of mazuma.
The post-buy support given by the organization is truly surprising. Clients get their issues settled in less than multi-day. The main pickle with regards to this bot is that you ought to in every case reliably outwardly look at the present market state. If the instability of the crypto advertise is high, at that point you ought to most likely turn the bot off to shun any misfortune
  1. Gekko
This is the most diverse digital money exchanging bot in subsistence at present. For any individual who needs to gain proficiency with some things about exchanging bots and not spend any mazuma getting one, at that point Gekko is the bot for you. The Gekko trading bot is an open source bitcoin exchanging bot venture that is accessible for anybody to use for nothing. The way that it is in freedom to use is the fundamental purpose behind its wide prevalence. Like some other open-source ventures, Gekko is free of for all intents and purposes all bugs and even the ones the pop are fixed up at lightning speeds. The Gekko bot can collaborate with a few trades, including Bitfinex, Polonix, and BitStamp. The bot uses a web interface to associate with the clients and can keep running on a neighborhood machine with Windows, Linux, or the Mac OS.
The bot comes pre-designed with some exchanging system. You can initiate using the bot on autopilot as anon as you introduce and design it with a trade. In any case, if you would savor to use your very own exchanging system, the bot withal endorses you to design it to your savoring. While the present design is respectable for trying different things with the bot, there are a few other exchanging techniques accessible online that would benefit you make an all the more profitably worthwhile wager. The bot will withal send you a notice at whatever point it executes a specific exchange. This is finished by incorporating it with the Telegram envoy. Consequently, you will dependably ken how well your bot is performing.
The main drawback to the Gekko exchanging bot is that it isn't very utilizer-heartfelt. There are a few aides in the digital world that direct you through the underlying setup process. Be that as it may, this procedure isn't extremely direct and you would presumably hit a barricade at any rate once amid the underlying setup.
  1. Zenbot
Another allowed to use digital currency exchanging bot, Zenbot can be considered as a further developed form of the Gekko exchanging bot. Nonetheless, as Gekko has been around for a more extended time, it is all the more generally used. Much the same as Gekko, Zenbot programming can be downloaded from Github and introduced on your neighborhood PC. The product is perfect with Windows, Mac just as the Linux working frameworks. The bot comes pre-arranged with an entirely nice exchanging system. In any case, its real potential can be opened only when you initiate executing your exchanging order. The primary bind with the allowed to use bots is that they are frequently not very utilizer-genial. In any case, this isn't the situation with Zenbot. The entire setup process is extremely effortless, and you can have the bot fully operational in all respects speedily. The bot chips away at all prevalent trades, for example, Bitfinex, Poloniex, Bittrex, and so on.
As it is an open source venture, it is without now of a few bugs, and regardless of whether one springs up, it will be adjusted all around speedily. The Zenbot can effortlessly actualize with a few informing stages, for example, slack, Telegram, and so on to give you the updates of any exchange that was executed.
Adventitiously, the Zenbot withal braces high-recurrence exchanging. This is a component that outlined the personnel of the Gekko bot. The Zenbot is being refreshed, and more highlights are being incorporated traditionally. Hence, making it a bot for you to reliably outwardly analyze.
  1. WolfpackBOT: WolfpackBOT is a cryptographic money exchanging programming application that has been created with the most developed highlights of any robotized exchanging programming of its sort. The WolfpackBOT has been intended to execute exchanging directions with the usage of restrictive numerical calculations, and specialized investigation bespeakers predicated on the client's predefined assignments.
The cryptographic money advertise as of now bearish, and many exchanging bots easily miss the scarcest vacillations. WolfpackBOT has been built to execute trading directions at a lightning speed and is fit for making up to a large number of exchanges every day, relying upon the states of the market.
WolfpackBOT is among the few cryptographic money exchanging bots that give crypto aficionados full self-governance, security, and control of their exchanging bot and its related API keys. A large portion of the crypto trading bots out there are cloud-predicated stages that are constrained by outsider frameworks. While these stages guarantee dealers of outright wellbeing and security, insightful brokers ken that in the crypto space, outsider frameworks like trades and other cloud-predicated steps are hacked proximately consistently. Since WolfpackBOT programming and your related API keys are put away individually PC or devoted VPS, WolfpackBOT can sidestep a significant number of the security issues related to cloud-predicated frameworks.
WolfpackBOT has been created for the whole crypto network, from experienced merchants to novices, with three in all respects reasonably valued membership levels. WolfpackBOT accompanies a few membership bundles that authorize clients to exchange with a wide scope of chances predicated on their favored membership.
  1. CryptoTrader
cryptotrader_reviewAlmost all digital money merchants would have aurally seen about the crypto dealer exchanging bot. The across the board fame of this bot is because it was one of the absolute first bots to be kept running on the cloud and accessible to the clients day in and day out.
The crypto broker bot is plenarily web-predicated and in this manner, open from anyplace you can associate with the digital world. The bot can be easily designed with a few well-known trades, for example, Poloniex, Bittrex, Kraken, and so on. This bot does not come for nothing out of pocket. You can operate from the few organizations accessible. The valuing initiates with 0.003BTC every month for the most simple arrangement and this goes up to 0.0472 BTC every month for their excellent arrangement.
While all plans do offer clients support for programmed exchanging, the early highlights and as far as possible for the more indulgent plans is higher than that given the basic arrangement. Any early component that is caused is most readily accessible on the higher bundle designs and are later accessible on the basic plans. On the off chance that you would simply savor to exchange on a solitary trade and with exceptionally delineated mazuma, at that point the basic arrangement will get the job done. Be that as it may, on the off chance that you are outwardly looking at the higher volume of exchanges, at that point run with the higher bundle.
This bot additionally sustains algorithmic exchanging. In this manner, I am making it effortless for clients to execute their very own arrangements. The bot can be effortlessly modified. In this manner, I am making it a broadly utilized cryptographic money exchanging bot.
  1. Bitcoin Robot
btcrobotWe simply needed to incorporate the pioneer of digital currency exchanging bots on our rundown of the best crypto exchanging bots. The Bitcoin robot started as a Bitcoin exchanging bot. In any case, it can now withal be designed to exchange different digital currencies, for example, Ethereum and Litecoin. The bot is accessible as a product and should be downloaded and keep running on your neighborhood machine. This betokens the exchanges will be executed just as long as you keep your PC turned on. The bot can effortlessly work with a few digital money trades and is by and large broadly utilized even today. The bot isn't accessible free of expense and costs you a premium. The cost of the bot ranges from $19.99 every month for the principal plan. In any case, clients usually buy the platinum plan that costs just $399 one time charge and offers utilizer unlimited access to every one of the highlights.
The benefits made by individuals using this bot verbalizes for itself. Supplementally, they do offer a 60-days mazuma back assurance. Along these lines, you should look at them once.
  1. USI Tech
This can't be considered as a bot. In any case, the USI tech BTC settlement promises mechanized benefits for your BTC speculations. The USI Tech was at first intended for Forex exchanging. In any case, after the raise of the ubiquity of Bitcoin, they additionally offer BTC bundles. Not at all like some other BTC exchanging bot where you require to give the API key of your trade account to execute exchanges, on USI Tech, you will require to winnow from among the few BTC master exchanges. At that point, you will begin accepting your segment of benefits at whatever point exchange is made.
The USI Tech stage basically ensures extraordinary comes back to your speculations. The entire procedure of purchasing your absolute first BTC bundle is withal simple and pellucidly elucidated on their site. You can explore different avenues regarding the benefits that you gain. In any case, the number of bundles you purchase, the more dominant will be your benefit
  1. Margin.De (Leonardo Bot)
Edge LeonardobotThis is a cryptographic money exchanging bot with the most utilizer-genial interface. The GUI of the bot is easy to use, and the highlights gave are extremely puissant. The bot was structured with two exchanging techniques ping pong and Margin exchanging actualized into it. In any case, you can withal modify it with your very own custom settings. This bot lays incredible complement on the visual parts of exchanging. The specialized examination done by the bot is immensely simple to break down. What more? The bot has an astonishing component called visual exchanging. This interface feels rich smooth to use and offers clients the most extreme authority over the exchanges.
The bot was at first evaluated at 0.5 BTC consistently. Notwithstanding, presently, it is accessible at a one-time cost extending from $89 to $1999 with the most elevated arrangement offering a bigger number of highlights than th
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How to BUY/USE Bitcoin? Best Brokers & Exchanges EXPLAINED ⌚⌛ World’s Best Crypto Exchange - Advance Level Of Trading Available ! Bitcoin Trading Signal Bitmex,binance,Hitbtc,etc - YouTube Binance Futures Exchange Interview With Aaron Gong - Best Bitcoin Margin/Leverage Trading? Bitcoin Trading signal Binance,Indodax,HitBTC,Bitmex - YouTube Binance Margin Trading Wrecks Bitcoin's Price and Ethereum To Adopt Bitcoin Cash Bitcoin Trading Introduction to Advanced Course The 5 Steps Of a Profitable Cryptocurrency Trade Binance

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How to BUY/USE Bitcoin? Best Brokers & Exchanges EXPLAINED ⌚⌛

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