Big Eyes Coin (BIG) is the meme coin of the season as the cryptocurrency is having the dream presale for all tokens launching in the market. Big Eyes Coin has had a successful stage 2 presale so far, raising over $2.5 million from a $3.2 million presale target. The project looks to round off the presale with a huge $250k giveaway. The giveaway will be raffled to ten winners who participated in the stage 2 presale, and there’s still some time to enter and stand a chance before the stage 2 presale ends.
Follow @BigEyesCoin on Twitter to enter the raffle and fill out this form to register for the raffle. To qualify for the giveaway, you must buy at least $50 worth of Big Eyes coin from the presale. You can share the form you filled out earlier to improve your chances of winning.
Big Eyes Coin has gained a lot of hype since the presale started, as the cryptocurrency raised $1 million in the first week of its presale. The launch promises to be massive and hopes to disrupt the meme coin meta since created by Dogecoin (DOGE). The meme coin looks to cause the market to shift from dog memes and hopes to create a precedent for coming meme coins to thrive on.
Dogecoin (DOGE)
Dogecoin (DOGE) is the father of all meme coins. It is the first and the largest meme coin in the cryptocurrency market. Dogecoin launched as comic relief to the market situation in 2013. Several cryptocurrencies were emerging only to have copied Bitcoin’s source code, so the developer of DOGE made fun of it by creating the cryptocurrency within a few hours.
Dogecoin set the precedent that meme coins should have no utility. However, that narrative has since expired. Later meme coins have begun to find ways to stay relevant amidst the saturation in the market. The Dogecoin community has also created a pseudo-layer-2 network for Dogecoin via Polygon (MATIC) that can run smart contracts and decentralized applications. Dogechain, as the network is called, recently came to light when it launched an airdrop for its early adopters.
Meme coins are starting to realize the need to be something that retains the community in times of crisis, like the bear market, where everything is losing value.
Big Eyes Coin is a meme coin project inspired by cute cat memes and hopes to change the narrative from the precedent Dogecoin created. Firstly, Big Eyes was created on the Ethereum blockchain, so it can fit into several utilities that Dogecoin couldn’t adopt from the start. Moreover, Big Eyes Coin (BIG) aims to create wealth for its community using DeFi.
Big Eyes Coin is looking to create several utilities and expand to non-fungible tokens in the long run, which will serve as access tokens to more content, events, and other developments from the project. BIG Token also aims to set a precedent to get community holders actively involved with the project by serving as a governance token. The DAO model will enable users to have some quota of power over decisions and developments on the project.
Big Eyes Coin would be investing in its community and hopes to chase down top meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). Join the presale so as not to miss out on the incredible gains after launch. Moreso, the token price increases by 25% after stage 2, and there’s still a chance to be one of the winners of the $250,000 giveaway.
Building your portfolio the right way is crucial to your financial success. The best time to make your crypto portfolio is in the bear market. Also, when adding tokens to your portfolio, it is important to diversify. Peter Lynch once said, “It is best to divide your money among three or four types of assets”. Thankfully, there are many categories of crypto to select from. More reason we’d be introducing three crypto tokens that fall under three separate categories of cryptocurrency.
The Binance coin is the utility and native token of the Binance blockchain. Before the Binance blockchain was developed, the coin was primarily the utility token of the Binance exchange. It was listed for ICO the same year the exchange became available to the public.
As the utility token of the Binance exchange, it solely enabled traders to receive discounted fees. However, its use cases have expanded as the company grew. Currently, Binance is more than just a centralized exchange. It now has its blockchain technology that allows for the smooth running of smart contracts. On this blockchain (Binance smart chain), developers can build dApps, create tokens, and even make payments. Aside from that, the Binance exchange also features an NFT marketplace where users can trade and mint NFTs.
Recently, Binance has partnered with various businesses to receive BNB as a payment medium.
The Graph
One of the reasons for decentralized applications (dApps) is to avoid putting data in the hands of big firms. With more and more apps being released into the market, we can not help but agree that data is important. Brands, products, and companies need data insights to improve their products. If big centralized firms are moved out, how then do blockchain-based products gain data insights? Graph was created to solve this problem.
Graph is an all-in-one tool that allows teams to view searches across different apps. You can search for things like which exchange has the most liquidity or new decentralized finance tools in the market. To use the tool, developers must create and publish subgraphs (or Application Programming Interfaces). After that, the Graph will start monitoring data.
To utilize the Graph protocol, developers and users need the GRT token. GRT token will help developers propose new data sources, pay validators, make data searches, and even for voting.
Rocketize token is a meme token centred on Defi and community. From its name, it seeks to carry out the words used by Neil Armstrong, the first man to land on the moon. Rocketize is supported by the tagline, “a small step for a man, a giant leap for the community”. Indeed, Rocketize ensures that all community members soar into outer space. The community at Rocketize would be called Atomic Nation. Atomic Nation would be a community supporting the growth, publicity, and mission of Rocketize. With the aid of the community, Rocketize would also support Defi, Science, and exploration.
Like many meme coins, Rocketize would be centred on making people happy. The excitement and thrill come from knowing that you can buy millions of tokens with just a dollar or 5. Regardless, Rocketize aims to take a different approach with its token—$JATO, which means Jet-assisted take-off. Unlike another meme coin with infinite supply, $JATO will be a deflationary token. The whitepaper described this with, “There will never be a time when there are a greater number of JATO in circulation than there is right now”. It goes to show that the token may become scarce in the future. Plus, there would be nothing like a developer’s wallet, as all developers are volunteers. And tokens belong to the community and the exchanges they are listed on.
As a unique meme coin, we expect more people to want to associate with the community shortly. You should tap in quickly as more developments are on the way.
Every new cryptocurrency enters the market with the promise of becoming the next big thing.
One new cryptocurrencyhas piqued the interest of investors, even though the vast majority of them are often worthless. Because of its remarkable use, the new currency seems ready to outperform some of the market’s major game players.
Moshnake(MSH) is a new cryptocurrencythat has already stunned investors with its growth and use case. Meanwhile, Uniswap (UNI) needs no introduction being the largest DEX and one of the most significant coins by market capitalization.
Uniswap (UNI) – A Swapping Paradise
Uniswap (UNI) is a decentralized exchange (or DEX) built on the Ethereum blockchain that functions on a peer-to-peer trading system defined by irreversible, permanent, and non-upgradable Ethereum-based smart contracts.
Transactions may take place using the Uniswap (UNI) protocol without requiring trusted intermediates. It is independent, encrypted, and self-contained. Buyers and sellers offer different prices for an object on a typical market. When other users agree, they conduct a transaction, converting the declared price to the market price.
Uniswapuses a new method, an automated market maker (AMM), to facilitate crypto asset trading without the requirement for authorization. AMMs solve the problem of insufficient liquidity by forming liquidity pools and incentivizing liquidity suppliers to fill these pools with assets. The greater the number of assets and liquidity in a pool, the easier it is to trade on decentralized exchanges.
Furthermore, Uniswap (UNI) has a permissionless design structure, which means that the protocol’s services are open to the public, with no method to restrict who may or may not use them. UNIis the utility and governance token for the Uniswap (UNI) network, assuring the project’s future development. Holders of UNItokens may vote on different proposals or delegate their votes to a third party in exchange for staking benefits.
What is Moshnake (MSH)?
Moshnake (MSH) is a Play-to-Earn NFT game on top of the BNB Smart Chain. The gameplay controls are basic, and in the arena, the game’s objective is to develop, survive, and search for MSH and other NFT items.
The Moshnake (MSH) Eggs are a BEP-1155 NFT item encountered inside the game. They are built on top of the BNB Smart Chain, and their supply is limited to 20 million. When a player successfully hatches a Moshnake (MSH) egg, they are rewarded with a Moshnake (MSH) NFT.
It is essential to remember that hatching is the sole means of introducing new Moshnake NFTs into circulation. Once the Initial NFT Offering (INO) has been completed, the only option to increase the circulating supply of Moshnake NFTs will be to hatch the Moshnake egg. Since not all 20,000 Moshnake NFTs will be accessible for minting, this is the case.
Additionally, the presents gained through surprise boxes are often unexpected. The players will have the chance to obtain the Surprise Crate if they successfully fight the Basilisk that will randomly and sporadically appear in the game. If a player successfully blocks and kills the Basilisk throughout the game, that player will get the Surprise Crate. So these fun features of the crypto will help to gain new users, which in turn should help to maximize users profits in the future.
To find out more about Moshnake (MSH), visit the links below:
San Francisco, California, 21st September, 2022, Chainwire
As part of a drive to strengthen its contribution to the Nigerian economy, the Lekki Free Zone Development Company (LFZ) is in talks with Gluwa, a blockchain technology company. The pair are looking to partner and use blockchain to foster trade collaboration, growth, and sustainability among new and existing Free Zone enterprises. The partnership would also explore the creation of a Virtual Free Zone within the Lekki Free Zone.
Lekki Free Zone’s Head of Strategy, Innovation & Special Projects, Mr. Tomiwa Idowu, has disclosed that discussions are ongoing between LZF, the Nigerian Export Processing Zones Authority, and the Gluwa team.
In a statement, Idowu explained that the partnership, when finalized, will create a dashboard for the tokenization of goods into NFTs (non-fungible tokens) and provide digital asset-backed loans for new and existing enterprises who are looking to fund operations and/or expand their businesses, similar to the integration of OpenSea and Compound.
Idowu shared his vision for innovating the trading and industrial sector in Nigeria and Africa as a whole, bringing it into the modern information age with the Lekki Free Zone at the epicenter.
“I am extremely excited by the enormous potential of such a partnership, which would further establish Lagos State as Africa’s leading sub-national in terms of innovation, economic development and revenue generation,” said Idowu.
He commended the Lagos State Governor, Babajide Sanwo-Olu, as a beacon of progress and hope for the nation in general, saying: “Our Governor has always been a firm believer in fast-paced development, which involves using technology to leapfrog bureaucracy and going straight to solving immediate problems.”
Chief Executive Officer at Gluwa, Tae Oh, noted that the firm is keen to partner with the Lekki Free Zone as it is the largest and most developed Free Zone in Nigeria with proximity to the deep-sea port as well as the Dangote refinery, saying: “Trading has been the bedrock of the Nigerian economy, with annual volumes running into billions of dollars.”
He added: “We believe the digitization of the sector can allow us to harness its full potential. For instance, a standard process to digitize goods manufactured or processed within the zone in tandem with a market system on web3 will allow manufacturers to trade globally via the blockchain.
“All trades will be registered and benefit from the incentives of the Lekki Free Zone, such as zero taxation and free circulation of goods. As soon as the goods get settled for export by the in-Zone Customs Processing Center, they will get shipped out straight from the Lekki Free Zone via the deep-sea port.
“This will reduce delays, eliminate human errors, exponentially drive up Nigeria’s non-oil exports and sustain a positive trade balance for the nation. While we are still working out the fine details and a specific framework with NEPZA, we believe it is the future of commerce and trade in Africa.”
About Gluwa
Gluwa is an Open Finance platform, connecting capital from developed markets to emerging market lending opportunities using blockchain technology. By providing the decentralized infrastructure rails to raise and disburse capital anywhere in the world, investors can use the Gluwa Invest platform to partake in debt-financing deals with emerging market fintech lenders, earning up to 15% APY.
The crypto market is considered a wild and rugged terrain because of the occasional downturns and rug pulls that happen. Cryptocurrencies like Big Eyes (BIG), Decentraland (MANA), and Uniswap (UNI) may experience an occasional downturn. However, they tend to bounce back because they were built for sustainability.
This cannot be said for every token launched into the cryptocurrency market, as some have gone extinct.
The truth is that so many cryptocurrencies do not survive the first few stages of being in the cryptocurrency market. However, this article will help you understand why Big Eyes (BIG) will survive and outlive many other projects.
Big Eyes
Big Eyes (BIG) is an Ethereum blockchain meme project that not only seeks to help users find a community but also wants to help save a part of the world’s ecosystem and preserve it for as long as possible.
Big Eyes (BIG) is donating as much as 5% of its token towards saving the ocean. It is already attracting people concerned about this cause by creating a community of users.
Big Eyes (BIG) users will enjoy a tax-free decentralized ecosystem, community vibes, and marketing prowess. The success of Big Eyes (BIG) is grounded in community strength and a network of expertise. Its mission is to go big on media awareness, attract like-minded people into its ecosystem, preserve the world’s ocean, and provide decentralized finance across the globe.
Big Eyes (BIG) is building an ecosystem that might be the biggest of its time, so taking a chance on it might be the best move.
Decentraland
Decentraland (MANA) is an Ethereum-based user-owned virtual world where users can live out their virtual lives. The virtual space user can purchase plots of LAND to host events and games and lease them to other uses. LAND is a non-fungible digital asset (ERC-721) that users can purchase using MANA, Decentraland’s ERC-20 native token.
LAND is divided into parcels with a 16m x 16m measurement. Community members can permanently own parcels. Some parcels are organized into districts and themed communities that allow users to share spaces with like minds.
When Decentraland (MANA) first entered the market, it promised something that no other crypto platform was offering at the time, and that was the first ever virtual world owned by users. Having up to that promise, Decentraland (MANA) is currently in a league of its own.
Decentraland (MANA) will test the limits of users’ imaginations through creation. It allows users to explore another world and trade digital assets such as LANDS, avatars, ESTATES, wearables, and so much more. Through unique user freedom, Decentraland has been able to thrive and is still thriving in the market.
Uniswap (UNI) is a fully decentralized platform for trading tokens on the Ethereum Network. It is a liquidity provider that uses a trading model known as an automated liquidity protocol. This allows users to provide liquidity to the liquidity pool, ensuring that trades are made instantly at a particular price.
Uniswap (UNI) operates on two smart contracts: exchange and factory. The exchange smart contract runs the trade of new tokens, while the factory smart contract adds new tokens to the platform. These smart contracts are fully automated computer programs.
Furthermore, holders of Uniswap’s native token UNI can participate in the governance for future upgrades and have the right to partial ownership of the Uniswap (UNI) domain.
They are also entitled to a certain percentage of the trading fees paid on the Uniswap (UNI) protocol. Uniswap is just another example of a unique platform in the cryptocurrency market.
Every crypto platform has to be unique in addressing public demand. It has to find a way to win people’s hearts and gain attention through that uniqueness. The cryptocurrencies listed above are some examples of unique projects that have dominated their respective fields.
However, while the others may have launched some years back, Big Eyes (BIG) is yet to launch. This means that now is a great time to purchase, so click the links below to take advantage of the presale.
Helium founders, Nova Labs, and T-Mobile have penned a 5-year agreement to create a new 5G wireless network
Helium Mobile will allow users to switch between Helium’s network and T-Mobile depending on the quality of network coverage in a particular area
Helium Mobile, which will incentivize users with new MOBILE tokens, is slated to go online in early 2023
Helium Mobile will incentivize subscribers to use the network with MOBILE tokens
Nova Labs, the founders of the Helium network, have announced a five-year partnership with US carrier T-Mobile, which will see the launch of Helium Mobile, a crypto-powered mobile carrier.
Using Helium’s infrastructure of 5G hotspots (with 4,500 running at the moment) and T-Mobile’s existing network coverage, Helium Mobile will enable users to tap into the first decentralized 5G network. Devices will automatically switch between the two networks – T-Mobile and Helium Mobile – depending on the network coverage in a particular area.
Helium Mobile will use the same economic model as the Helium internet of things (IoT) network, namely incentivizing users and node operators with crypto tokens. MOBILE, the native token of the soon-to-be-launched cryptocarrier, will be distributed to users for simply using the network, and to node operators for maintaining the platform. In addition, the economic model incentives network expansion, helping increase 5G coverage, especially in rural areas.
An excerpt from the official announcement reads:
“With the Helium Network economic model, individuals are incentivized to help build a ubiquitous network in days and weeks, not years or decades. People eliminate the capital costs and associated red tape, establishing part ownership of the network, along with earning crypto tokens called MOBILE.”
Helium Mobile is slated to launch in early 2023. According to the announcement, mobile plans will start from $5/month for 1GB of data. Other pricing info, including about different subscription plans, is coming soon.
In related news, Helium core developers published a proposal to move the network to Solana earlier this month, citing the need for better scalability in light of rapid network growth. The final vote tally will be revealed later today.
With the rise of technology, scammers have new ways to trick victims online, and cryptocurrency is no exemption!
Before you decide to invest, you should always do your due diligence. Here are four cryptocurrency scams that every newbie should watch out for.
Phoney Websites
Even if you have a lot of expertise in the cryptocurrency business, you can still fall victim to scammers by mistakenly clicking on a link and landing on a fake website set up by scammers. A surprising number of websites closely resemble good startup companies or projects. When visiting a website, the first thing you should look for is the small lock icon near the URL bar, which should contain “HTTPS,” indicating the connection is encrypted.
Fake marketing and spelling and grammar mistakes are also red flags. Thus, always double-check the websites even if they are quite reputable like Binance or Bitcoin Loophole.
Fake Mobile Applications
Another way that scammers use to deceive their victims is through fraudulent mobile applications that can be downloaded from the Apple App Store or Google Play. Even though stakeholders often notice such fake apps quickly and take them down, these apps have already affected people. Past data show that utility apps can steal from a person between $260 and $2,500… and much more.
Every newbie trader should understand how to detect fake cryptocurrency mobile apps to avoid being scammed. Make sure to check for reviews, misspellings and inauthentic looks, which consist of unusual logos and colours. If you suspect any of these, reconsider downloading the mobile app.
Social Media Scams
If you follow celebrities on social media, there’s no guarantee that you’re not following a hoax account. Malicious bots are widespread, and fake accounts are everywhere. Thus, make sure to research messages or offers that come from social media sites such as Facebook or Twitter.
Don’t trust accounts claiming that celebs are giving away cryptos. If someone online asks for even a tiny amount of your cryptocurrency, don’t give your details away, as there’s a great chance that you can never get your money back. You have to be extra careful.
Scam Emails
Email marketing is one of the most powerful tools in today’s business practices. Sadly, many scammers trick users via phishing emails. Be mindful! Is the email address legitimate? Is there anything that you can do to verify if the email is directly from the company it claims to be?
Alarmingly, during the current crisis, scammers have turned to a new fraudulent activity: they may abuse governmental names to promote loans, offer social help or demand payments. Make sure to protect your email and personal details online.
Conclusion
Unfortunately, there are many methods that scammers use: from hacking unsecured computing systems to promoting fake ICOs and creating phoney sites and apps.
Always double-check the tools you use, and remember that even if you manage to avoid falling victim to crypto scams, cryptocurrency trading remains risky!
San Francisco, United States / California, 20th September, 2022, Chainwire
If a Roole vehicle is reported stolen, millions of Nodle-enabled smartphones will work together to find the lost vehicle
Vehicle theft is a common concern in Europe and Roole, a French automobile club, announced today their partnership with Nodle to help car owners trace and recover their cars. Nodle is a decentralized network of smartphones that work together to locate and connect smart objects, such as Bluetooth tags embedded within vehicles. Nodle users are rewarded with the NODL cryptocurrency in exchange for helping grow the mobile network and locating stolen vehicles.
Off-the-shelf Bluetooth tags are placed on the vehicle, and when an owner reports a vehicle is stolen, the Nodle Network searches for the tag in question. When a vehicle is discovered, the detection is securely routed to Roole.
The entire process, from contributing to the Nodle network to locating vehicles, is based on privacy-first principles where no direct personal data, such as first or last names, are collected.
“We are excited to pilot the Nodle network with our fleet,” says Thomas Fournier, CEO of Roole. “Multiple, low-cost smart sensors prevent stolen vehicle disassembly, a common practice in Europe where stolen vehicles are sold for parts,” says Fournier. “If a car is stolen from France, for example, and ends up in another country, there’s a good chance we’ll find it, thanks to our partnership with the Nodle Network”
“Roole represents the first step in moving enterprise asset tracking towards a more secure and private model leveraging a decentralized architecture,” says Micha Benoliel, Nodle Founder and CEO. “On-chain services such as Roole provide a powerful, real-life use case for the Nodle network and drive value that anyone with a smartphone can benefit from in the form of Nodle’s native token, NODL.”
Using the Nodle Network’s on-chain API to locate vehicles, Roole works anywhere Nodle exists. This means that if a vehicle ends up in another country, the vehicle can still be located. There are no complex roaming agreements, expensive cellular modules, or GPS. With Bluetooth already running on billions of smartphones, Nodle just works.
“Roole represents a compelling real-world use case for on-chain smart asset tracking,” says Garrett Kinsman, a Nodle Co-founder. “It represents a shift where non-blockchain or Web2 companies are using decentralized technologies to create new experiences for their customers.”
In the automotive industry, the Nodle Network has many other potential applications. For instance, ridesharing services want to ensure that drivers are using the vehicle declared on their platform and doing their rides instead of sharing it with somebody else. The Nodle Network can be used to prove that the rider is in the right vehicle, driven by the right driver. Cryptographic proof would be issued without the need for personal data to be shared, tying the vehicle to the driver and the rider.
In the future, vehicles could even natively support Nodle, allowing anti-theft security to be built into vehicle hardware. In this forthcoming solution, Nodle-enabled vehicles would be extremely difficult to steal, deterring thieves.
To learn more about Roole you can visit www.roole.fr. To earn cryptocurrency by helping locate Roole vehicles, and other smartphone devices, download nodle.com/cash.
About Nodle
Nodle connects the physical world to Web3 by using smartphones as edge nodes. The edge nodes read devices and sensors in the physical world using Bluetooth Low Energy (BLE) and connect that information to the blockchain. Creating a geolocation-based layer one that can be used by many unique applications built for the hyper-connected, mobile-oriented world we live in, including real-time asset tracking. Nodle creates an economic model that is secure, private, and scalable. Anyone with a smartphone can join the network in return for Nodle Cash tokens ($NODL). Nodle provides insights for consumer electronics manufacturers, enterprises, smart cities, the finance industry and beyond. Since its creation in 2017, Nodle has become one of the world’s largest wireless networks by number of base stations. To join, download the Nodle app for iOS or Android.
As a rule of thumb, crypto traders are usually interested in spot trading. While trying to make a profit by trading physical assets is certainly a great option, Binance enables users to pursue derivative investments, which can be much more lucrative than their spot counterparts.
While futures and margin trading is inherently riskier than spot trading, Binance Futures traders can take advantage of the ability to make profits regardless of the direction of the market. The same can’t be said for spot investors, which are almost entirely dependent on upward price movements to turn a profit.
In the three years since its launch, Binance Futures has greatly expanded its product range, managed to increase the amount of liquidity many times over, and rolled out support for dozens of new digital assets.
In this article, I am going to explain why I choose Binance as my main platform to trade cryptocurrency futures, and why I believe it is one of the best futures offerings in the entire crypto space.
The main reasons why Binance Futures is a premier destination for derivatives traders can be attributed to how the exchange handles security, trading fees, and adding of new cryptocurrency trading pairs.
Security: Binance has a $300 million Insurance Fund to protect traders from negative losses and ensure that profits are paid in full for users who make a profit. In addition, the exchange has security features such as 2FA, KYC, Anti-Phishing Code, and whitelist wallet addresses. I am confident that my funds are safe when trading on Binance.
Trading fees: Binance charges very low Futures trading fees compared to its competitors. Although the commission varies depending on being a member with a discounted referral link and the amount of BNB and BUSD held in the wallet, the trading fees of Makers can be reduced to 0% and Takers to 0.017%. These rates are great considering we are trading high volumes in Futures.
Wide range of cryptos: Binance Futures has around 600 cryptocurrency trading pairs. This number will continue to increase as new cryptocurrencies and trading pairs are constantly listed.
Grid Trading – My favorite Binance Futures feature
Trading Strategies: Binance allows us to trade with TWAP and Grid Trading strategies. In this way, we can get the maximum benefit from price fluctuations. Binance also allows us to automate our trades using indicators, thanks to its API.
I have integrated the indicators I use in TradingView into 3commas, a popular crypto trading bot, and automated trading using the Binance API. Moreover, if things go wrong and the liquidation price approaches, I can automatically add additional margin to the position and reduce the risk of liquidation. If you have your eyes set on an indicator, or a group of indicators that you think works well for you, you can easily set trading parameters following crucial market data. Ultimately, I gave up on this approach and started using Grid Trading, which has not only proven to be more efficient but has also become my favorite Binance Future feature.
As a side note, I prefer to use small leverage like 4x or 5x as I know the risks of Futures trading and how big swings can negatively impact my capacity for making, what I believe, are “good” trades.
Binance already provides many indicators and technical analysis tools. If I can determine a certain range for the buy and sell orders of a crypto, I can open as many long and short positions as I want, thanks to Grid Trading.
I can go to the relevant page by clicking on the Futures Grid option inside Strategy Trading. By switching to manual input on the right-side panel, I can create a price range by specifying the upper and lower prices. Futures Grid will automatically execute a buy order when the market price of crypto falls below the middle of these two extremes. I can also specify how many times I want to place a purchase order with the Grid option. When the price is within the specified range, the system will place as many buy orders as we want.
When the price of crypto starts to rise above the middle range, Futures Grid will start selling crypto by closing open positions. We will make a profit by closing the positions we opened at a low price at a higher price with a preset cut-off. The bigger leverage we choose to use, the higher are the profits we can bank. However, there is a very important point to note here – if the price of a coin or token falls below the bottom price and the leverage is too high, we risk liquidation. In this case, we must stop the Futures Grid bot we have created and then either add margin to the position or close the position with a loss.
With Binance’s Futures Profit Calculator, we can calculate how much profit we can make from our futures positions, which can come in handy to test out the viability of potential trades before making an actual order.
What makes me appreciate Binance Futures and its functions
The cryptocurrency market is sometimes very volatile, and sometimes fluctuates for a long time in certain price ranges. For example, Bitcoin has been changing hands in a tight trading range between $18,500 and $24,800 since June 16. Having exhibited these fluctuations for more than 3 months, Bitcoin was well suited for the Futures Grid trading strategy during this period. Even with small leverage of just 3x, Grid Traders were able to turn a huge profit in the process.
Bitcoin’s rangebound price movement in the past month.
If you can predict what range the prices of certain cryptos might be in during certain periods, I can only recommend Grid Trading. Thanks to this feature, you don’t have to follow the market constantly to open and close new positions, and you can get the maximum profit from price oscillations.
Binance Futures offers many educational resources and a demo account for beginners. Thanks to the demo account, you can gain experience and prepare yourself to make real transactions without sacrificing any of your hard-earned money beforehand. While perhaps misguided, I believe I’ve had a very good experience with Binance Futures because I did just that.
Although the spot market and Futures trading are similar, the risks of Futures trading increase in direct proportion to the leverage ratio. So, getting experience with a demo account can be a lifesaver for real trades.
Binance Futures is already one of the highest trading volume futures exchanges, but that doesn’t stop the company from trying to attract new users to the fold. Case in point, Binance rewards users with high trading volumes by organizing trading competitions. But these competitions are less frequent and do not appeal to those who do not trade in high volumes. I am sure they will have even more futures traders when they make these organizations accessible to everyone.
Binance Futures’ Reward Center dashboard. Image source: Binance
How could Binance improve its futures trading platform?
When trading on Binance Futures, steps can be taken by Binance to further improve our experience. For example, some exchanges give their active users coupons valid for Futures Trading. These coupons with values as low as $5, $10, and $20 can be used with limited leverage. Binance could also consider rewarding active users with such coupons.
Another feature that Binance could improve is its notification system. As of right now, we can receive SMS and e-mail notifications when a position is opened, closed, or close to liquidation. However, this should not be limited to trading orders or positions. When an indicator provides suitable conditions, we should receive notification from Binance so that we can act accordingly to live market movements.
Binance should also consider improving its automated trading facilities. People are very interested in automated crypto trading these days, and more possibilities and strategies usually mean more users.
While it would be nice to see the exchange implement the features listed above, the futures trading marketplace run by Binance
