Phemex crypto exchange and futures trading platform is proceeding on creating their first NFT, a piece of QaRT artwork that is to be auctioned on open OpenSea starting with April 12nd.
Phemex is driving its community in order to gather thousands of QR codes that will form an impressive NFT art piece. The QR codes represent each participant’s ETH deposit addresses, which will be put together to represent the enormous data held on the blockchain.
How to participate?
As Non-Fungible Tokens start gaining the popularity they deserve, Phemex is taking the initiative in creating an NFT that will ultimately bring profit to the community. In this context, bringing the profit to the community is not an abstract idea as Phemex is dead set to give all those who contribute to creating this artwork a chance at sharing a portion of the winning bid.
The participation process is as simple as it can be. Those who want to participate in the creation of the QaRT NFT only have to:
Upload the Phemex’s ETH deposit wallet QR code image to the Gleam campaign.
Provide the Phemex UID.
Provide the ETH deposit address.
Follow Phemex on Twitter.
And Complete any additional steps for more entries.
It’s essential to keep in mind that the ETH Qr code and Eth wallet addresses submitted for creating the NFT must belong to a Phemex account. If they are not, those registrations will be ignored and disqualified from the event.
Also, the Phemex users are allowed to participate with only one account. The participants that register to the event with accounts associated with the same IP addresses or GUIDs will get disqualified.
How will it progress?
In order to participate in the creation of Phemex’ QaRT NFT, users have to go through all the required steps before April 2nd.
After that, Phemex will combine the QR codes in one artwork until April 12nd. On the same day, the company will auction the NFT on OpenSea.
The auction will receive bids for one week, until April 19th, and the starting bid will come from Jack Tao, Phemex’ CEO.
Depending on the number of participants, Jack Tao has offered to place an initial bid of up to $100,000. But as OpenSea is an auction-driven platform, the QaRT NFT will sell for more than Jack’s offer by the end of the auction period.
After the auction is over, 10% of the contributors will be randomly chosen to share the earnings. They will receive the funds as ETH to their Phemex account, and the winners can either use them for trading or just withdraw.
About Phemex
Phemex is one of the fastest crypto exchange and futures trading platforms that provides both futures contract trading and spot trading services.
The platform was founded by several experienced Wall Street traders and investors that identified a regrettable lack of professionalism, trustworthiness, and customer support in the crypto industry. Therefore, Jack Tao and the other founding opened up Phemex in 2019, offering crypto traders a simple, efficient, and trusted cryptocurrency trading platform.
Nowadays, the platform is able to provide a less 1Ms order response time, executing over 300K orders per second. That comes in the context of granting a daily average trading volume of $574,000,000 while keeping 30+ integrated liquidity providers.
If you want to find more about the company, then follow Phemex on social media and be the first who finds the news:
Which cryptocurrency will be the best performer in the recovering crypto market? Will it be the governance token of an established DeFi protocol, a privacy-focused coin implementing DeFi features, or some other asset that we have not included in our this week’s selection of the top 3 coins to watch? Time shall tell, but we think the three assets that you are about to read about have a good shot at posting significant gains.
Outside of the crypto circles, a large amount of media attention was captured by the “Ever Given”, a container ship that ran aground on the bank of the Suez Canal, thereby blocking one of the busiest trading routes in the world. The attempt to refloat the ship finally succeeded on March 29, and the Canal is now open again. The 3rd project on this week’s list is in a way like the diggers and tugboats that participated in the vessel’s rescue operation – it tries to remove obstacles in the international shipping industry. The key difference is that it aims to do this by digitalizing the trade and transport documentation and not by physically removing the sand and pulling large vessels. Nevertheless, make sure to have a look.
1. Uniswap (UNI)
UNI is a governance token of Uniswap – an automated market maker (AMM) protocol. The platform, which facilitates quick swaps between different Ethereum-based tokens, has recently been struggling to keep its users and market share because of high fees on Ethereum. UNI tokens are ERC-20 tokens that allow holders to decide on the future of Uniswap by voting on proposals. The governance token holders also oversee the usage of funds from the community treasury, and the protocol’s fee switch.
Uniswap v3 Ethereum Mainnet Launch target is May 5
After much anticipation and even more speculation, the Uniswap team has finally revealed more details regarding the improved version of the popular DeFi protocol. According to the official blog post from March 23, the team is aiming to deploy Uniswap v3 on Ethereum mainnet on May 5, while layer 2 deployment on Optimism is going to follow shortly after. In fact, this makes UNI an interesting token to watch throughout the whole April and likely May 2021 as well.
Uniswap v3 will feature several important improvements for liquidity providers (LPs), which could result in an up to 4,000x increase in capital efficiency. A new feature called “Concentrated liquidity” will allow LPs to provide liquidity just to a specific price range. Thus, savvy LPs will be able to earn the same amount of fees with just a fraction of the underlying capital, provided the asset pair trades in the range that they are providing liquidity to. The concentrated liquidity could also be used to mitigate the risk of one asset in the pool significantly dropping in value. In addition, LPs will be able to place multiple positions per pair composing their own AMM curve.
3/
Uniswap v3’s groundbreaking new feature is Concentrated Liquidity positions
Rather than being required to allocate capital across the entire price spectrum from 0 to infinity, each LP is given full control over what price ranges they wish to provide liquidity to pic.twitter.com/AOCm340YI9
Furthermore, Uniswap v3 will also include support for flexible fee tiers and integrate advanced oracles. The Uniswap team also revealed that since liquidity positions are now unique for each LP, they are no longer represented by fungible tokens but rather non-fungible tokens (NFT). Uniswap expects that over time, more complex strategies including auto-rebalancing algorithms, fee-reinvestment and lending will be tokenized, allowing LPs passively copy the strategy of other more experienced LPs.
A detailed technical description of the new features is available in the Uniswap v3 whitepaper. Developers are already able to test the Uniswap v3 smart contracts as they have been deployed to the Ropsten, Rinkeby, Kovan, and Görli testnets.
2. Horizen (ZEN)
Previously known as ZenCash, Horizen is a privacy-focused coin that enables encrypted messaging and utilizes supernodes and Zk-snarks technology. The project’s development is led by a decentralized governance community.
Horizen team is looking to further boost the protocol’s utility and become more than just a pure privacy coin project. Therefore, the project is launching StakendZEN (stZEN), an ERC20 token representing ZEN, which will allow ZEN holders to take part in the Ethereum-based DeFi protocols while staking their ZEN coins to earn Horizen node staking rewards at the same time. The stZEN tokens will be issued and exchanged through StakeHound’s service at a 1:1 ratio compared to ZEN. The feature is scheduled to go live on Horizen mainnet on March 30. More information concerning the novel feature can be found here.
3. CargoX (CXO)
The CargoX Platform is an Ethereum-based blockchain document transfer platform. While the project’s main aim is to digitalize the logistics industry and improve its efficiency, the platform can also be used in financial, manufacturing, trading, energy, services companies, and even governmental agencies. This blockchain solutions enables a fast, secure, and auditable way to transfer original documents as well as ownership of these documents. In addition, it facilitates distributed teamwork even with assets that would normally have to be handled manually in the corporate office environment, which proved to be extremely useful during the COVID-19 pandemic.
CargoX platform to be used by Egyptian Authorities from April 1
The Bill of Lading (BL) is one of the most important documents in the international trade and transport. This hard-copy document is issued by a carrier, may it be shipping line or freight forwarder, and confirmed the receipt of goods, lists contract of carriage and ownership of the goods. Since the manual dealing with the Bill of Lading has already proved to be a bottleneck in the international trade, governments around the globe are looking for ways to digitalize the documentation (develop an electronic BL) and the workflow around it to facilitate even faster and frictionless import and export process. And this is where CargoX, which has developed a proof-of-concept solution that tackles exactly this problem, comes to play.
Furthermore, CargoX’s Smart Bill of Lading platform is already a fully functional product. In fact, in just a few days, Egyptian Foreign Trade authority is launching the pilot phase of an Advance Cargo Information System, which utilizes CargoX’s solution. From July 1, 2021, all Egyptian importers and foreign companies exporting to Egypt will be obliged to use CargoX’s Smart Bill of Lading. In addition, the platform’s utility is not limited to maritime transport but can also be utilized for cargo aircrafts, as well as freight trains. In addition, Indian Port Association (IPA) is also testing CargoX’s platform. Reportedly, more than 60% of Indian ports are favouring integration of the smart Bill of Lading. Given the support of the Indian Minister of Finance and Corporate Affairs CargoX will likely make a big breakthrough to the Asian market as well.
Although the news has not been publicized a lot, the CXO is already up more than 40% in the past 7 days and around 140% in the past month. The fact that CargoX already has a fully functioning product addressing a real-world problem means that adoption should not be too big of a problem. In fact, the company has already secured invitations to collaborate from the World Economic Forum and the European Directorate Generale for Mobility and Transport Digitalisation of the Transport and Logistics Forum. To conclude, CargoX and its CXO token clearly have a huge potential to grow.
I’m Thomas Wolf and on a daily basis I’m the Head of Content at Online.Casino Australia, an online publication with a close eye on the iGaming market. The past years we have seen a lot of IPOs from gambling related companies and I’d love to give you some insight.
Last March may have been a once-in-a-lifetime chance to purchase casino stocks, in retrospect. What is the explanation for this? As a result of the novel coronavirus and the subsequent lockdowns, gaming companies large and small saw their stock prices plummet to near-distressed levels.
However, as the year progressed, this industry proved to be resilient, with casinos opening much earlier than predicted (albeit with social distancing). Given the megatrends of iGaming (online casino) and sports betting, investors had plenty of reason to bid up stocks in the market.
Is this to say that it’s too late to make money from casino stocks? No, not at all. But, after their spectacular recovery in the second half of last year, further gains might not be as important.
So, which casino stocks are worth considering? Consider taking a chance on one of these five big names:
-Bally’s Corporation (Bally’s) (NYSE:BALY)
-Caesars Entertainment (Caesars) (NASDAQ:CZR)
-Online gaming at Golden Nugget (NASDAQ:GNOG)
-MGM Resorts International (NYSE:MGM)
-Penn National Gaming is a gaming company based in Pennsylvania (NASDAQ:PENN)
With the travel economy still waiting for mass vaccination to return to “normal,” there’s still time for this still-struggling industry to recover. Investors with a healthy risk appetite can still see value in gaming stocks, given the growth opportunities in online gambling.
1. Bally’s Entertainment Corporation (BALY)
It’s fair to claim that BALY stock had a fantastic year in 2020. This operator of second-tier casino properties, formerly known as Twin River Worldwide, saw its stock plummet along with the rest of the industry during the March 2020 “coronavirus collapse.”
However, as Seeking Alpha commentators noted in May, the company took advantage of the situation, purchasing many properties at bargain-basement rates. The company acquired Bally’s casino brand as part of its deal-making.
However, this was not the catalyst for Bally’s stock to soar. That was the company’s fast foray into online sports betting. Overnight, the business was transformed into yet another medium for gaining exposure to the online sportsbook craze.
2. Caesars Entertainment Corporation (CZR)
When Covid-19 arrived in the United States, Caesars had its hands full. At the time, the company (then known as Eldorado Resorts) was nearing the completion of its highly publicized acquisition of Caesars Entertainment.
However, because of the massive popularity of sports betting, investors were willing to give the newly merged business some leeway. And re-invested in CZR stock. Both the online gaming and casino revival catalysts seem to be well priced into shares at today’s rates.
That isn’t to say its hot streak can’t continue. What do you mean by that? As the online gaming stock bubble continues to burst, investors may continue to bid up operators like this one as more states legalize both iGaming and mobile sports wagering. The recent talk in New York about legalizing online gambling has got a lot of attention. However, other large states such as California, Florida, and Texas will make significant announcements in 2021.
3. Online gaming at Golden Nugget (GNOG)
Golden Nugget Online Gaming, formerly known as Landcadia Holdings II, has been extensively covered. Some of my InvestorPlace colleagues, such as Mark Hake, are bullish on the stock, believing it is undervalued compared to online gaming behemoths like DraftKings (NASDAQ:DKNG).
4. MGM Resorts International (MGM)
MGM stock, like Caesars, provides exposure to both the brick-and-mortar casino recovery and the online gaming megatrend. Rather than sit on its hands, this gaming behemoth has made significant strides to expand its online reach through the BetMGM website.
5. Penn National Gaming is number five on the list (PENN)
Among the stocks in this hot market, Penn National had done the most “winning.” What is the explanation for this? Specifically, because of its well-timed purchase of Barstool Sports just before the pandemic.
Not only did this agreement provide them with a great name and a potential customer base for their fledgling sportsbook operations, but it also provided them with a great brand and a potential customer base. Dave Portnoy, the founder of Barstool, was also brought in as part of the deal.
The above casinos are the best that one can depend on. They are easy to move within all gambling areas. You can try any of them, and you will see the better side of them all.
An analyst from Bank of America calls Bitcoin an inefficient system for storing value and processing payments.
The analyst declares that demand is the only factor that determines the price of Bitcoin.
The analyst also thinks that Bitcoin has some risks for governments, including money laundering, fraud, and more.
Bank of America analyst Francisco Blanch recently criticized some of of the negatives he sees with Bitcoin, the world’s largest cryptocurrency. He believes Bitcoin cannot function as a haven against inflation, and isn’t a store of value.
Bank of America analyst says Bitcoin has some significant problems
Blanch refers to the fact that Bitcoin is very appealing to retail traders, but he thinks the currency will lose its demand in the long run. He thinks Bitcoin has some significant issues, and these problems will be serious obstacles for BTC in the future. One of the major obstacles is the complicated nature of BTC mining which is the base for the settlement process of this cryptocurrency. Blanch also talked about scalability and noted that Bitcoin couldn`t process nearly as many transactions as services like Visa.
Blanch called Bitcoin a volatile asset that is not suitable for storing value or making payments. He says people put Bitcoin in their portfolio due to the expectations that the prices might surge in the future.
The analyst believes Bitcoin is not environment-friendly. He talks about the amount of CO2 that Bitcoin creates around the globe, and noted Bitcoin’s carbon footprint as one of its major problems.
Blanch also talked about social and governmental aspects and says Bitcoin can be used for illegal activities. He declares the Bitcoin anonymity can facilitate criminal activities. Money laundering, bribery, fraud, and other crimes can be done via Bitcoin, in his opinion.
Blanch believes the future is for CBDCs
In Blanch`s opinion, CBDCs will replace Bitcoin and other cryptocurrencies in the future due to the shortcomings of cryptocurrencies. He thinks CBDCs will utilize blockchain and adopt positive aspects of cryptocurrencies, but will also enjoy the backing of governments.
Critics think the main factor for Bitcoin`s recent surge was stimulus packages from the governments. In their opinion, although the Bitcoin supply is limited, it has no intrinsic value like stocks or real estate. Therefore, the changing nature of demand will play a key role in determining BTC prices in the future.
Even though it’s clear that Bitcoin is facing real problems, the Bitcoin ecosystem is continuously adapting to these challenges – for example, the Lightning Network can bring massive improvements in the area of scalability. And even if Bitcoin will ultimately succumb to its shortcomings, there’s plenty of other cryptocurrencies that have taken radically different approaches and are already addressing some of Bitcoin’s biggest downsides. Proof-of-stake blockchains, for example, consume considerably less energy than proof-of-work blockchains like Bitcoin.
Brian Armstrong, the CEO of Coinbase, owns 39.6 million shares in the firm
According to the stock’s average price this year, his shares are worth $13.6 billion
Coinbase is preparing to go public on the NASDAQ stock exchange
Coinbase CEO owns more than $10 billion worth of shares in the company
Coinbase is a cryptocurrency exchange founded in 2012 that has a particularly big presence in the western markets. Coinbase is a key player in the crypto space, and it offers various services including trading, custody, OTC, and more. Through its applications and website, Coinbase provides crypto services tailored for retail traders, while advanced traders can use its Coinbase Pro platform. Coinbase also has an offering for institutional clients called Coinbase Prime.
The company’s CEO Brian Armstrong is one of the wealthiest people in the cryptocurrency and blockchain industry, and his net worth is poised to grow as his company becomes traded publicly.
Armstrong owns 39.6 million shares in the company, and considering the average price of each share ($343.58) during the year, his wealth from the shares can easily reach $13.6 billion. His salary and perks reached more than $59 million last year.
Coinbase’s business skyrocketed in the last year thanks to the major bull run in the cryptocurrency market which has attracted a wave of new customers to the platform. Bitcoin surged over 700% in the past year, and ETH had a stunning growth of more than 1,000%.
It was in September that Armstrong requested his employees to avoid political activism. At that time, there were protests around the United States country due to the pandemic and the presidential elections. He thinks activism and political divisions would have a negative impact on the company. He wants the employees to be focused on their job and avoid internal schisms.
A few months later, New York Times published a report about alleged discrimination of black employees at the company. Coinbase immediately responded to the report and denied it.
However, the aforementioned controversies didn’t stop the growth of Coinbase. As its direct listing approaches, Coinbase appears to be in a stronger position than ever.
Full market exchange aggregator OpenOcean has announced a private placement of its shares has been made to a selected group of investors. The news follows a recent successful strategic investment round led by Binance.
Investors include Altonomy and LD capital, both have participated in the Binance-led investment round, AU21, FBG, DAO Maker, Asymmetries Technologies, LIAN Group, TRON Foundation, MarketAcross, and Cao Zhen (partner of Republic.co). They join the strategic investors Multicoin Capital, CMS, Kenetic, LD Capital, Altonomy and Binance that lead the previous $2M round.
Since launching in Q3 2020, OpenOcean has already grown to reach the second-highest ranked exchange on dApp aggregator site DappRadar, ranking in the top ten for 30-day volumes.
OpenOcean was the first exchange aggregator to set up on Binance Smart Chain, offering full interoperability across multiple platforms. The protocol gives users full access to aggregated liquidity and best pricing from a comprehensive range of centralized and decentralized exchanges via a single user interface. It currently supports trading on Ethereum, Binance Smart Chain, TRON, and Ontology, with Solana, Layer 2, and Polkadot integrations coming soon.
The project is currently engaged in an airdrop of 1% of its OOE tokens to early users. It is also planning to distribute 34% of the total OOE supply through liquidity mining rewards over the next five years, with pools in various public chains aggregated on OpenOcean, including Ethereum, Binance Smart Chain, Ontology, and Tron. OOE will be paired in pools with several other major tokens, including DAI, ETH, USDT, BNB, and more.
Along with participation in protocol governance, the OOE token offers several other utilities. OOE holders can enjoy gas and slippage subsidies in future campaigns, significantly reducing trading costs. They also benefit from CEX VIP membership which includes benefits such as fee premiums and subsidies on trading fees and token withdrawals. OOE tokens can be deployed as margin in combined margin products to facilitate one-stop derivatives trading across exchanges and can also be used as collateral for lending.
As the cryptocurrency space is becoming more professionalized, there’s a clear need to overcome the fragmentation that exists within the markets, which OpenOcean aims to achieve. The recent successful financing initiatives will be a significant enabler for OpenOcean’s ambitious roadmap, which will see it introduce aggregation for derivatives, yield products, lending, insurance, and introduce Layer2 staking pools, combined margin products as well as intelligent wealth management services in the future.
Achieving these milestones will make OpenOcean the first of its kind to aggregate liquidity across a range of cryptocurrency products and instruments available on both centralized and decentralized exchanges. Ultimately, the project aims to become a single, user-friendly gateway for accessing the entire cryptocurrency markets, making them more accessible and attractive to all kinds of investors.
About OpenOcean
OpenOcean is a full aggregator that offers crypto traders the best possible price with lower slippage. Its protocol utilizes an optimized version of the Dijkstra algorithm called D-star, which splits routing between different protocols for better rates. OpenOcean then compares the best prices on DEXs and CEXs before empowering users to have their order executed at the best possible rate. OpenOcean’s technical team comprises a group of experienced engineers and financial veterans from industry-leading exchanges and multinational IT companies like IBM, Intel, and HP.
Froge has announced its own NFT platform that will make this coin the highlight in the crypto-world. NFTs, Non-fungible tokens, are one of the most well-known cryptocurrency phenomena in the mainstream.
Froge Coin launched 2 weeks ago and already has reached more than $ 2,000,000 market capitalization. The coin has witnessed a +1800% increase in price value with positive feedback from the traders and the general public. Add that to their new NFT platform; this coin is set to rock the whole cryptocurrency world.
The Froge interface is designed so that even a newbie in the crypto-world will understand how it works. More importantly, the coin ensures you can leverage on the swings in the market, thereby growing your cryptocurrency Investment in a short time.
Froge coin is backed up by a professional and experienced tech team ready to ensure this crypto’s success. That means this platform is designed to take on the world with a perfect and capable support system. Froge still has a lot in stock for its users and will keep making necessary adjustments to improve user experiences.
NFTs are increasingly becoming popular and with good reason. A report done by CNBC says that the NFTs are fetching huge prices in the market. And that’s not all! These items create a culture of gaming on cryptos and also purchase and sell assets.
We might be witnessing a change in the cryptocurrency market dynamic with the adoption of NFTs. And with the launch of the NFT platform on Froge will increase the fuss around these assets. Froge is a recently launched blockchain system that’s taken the crypto-world by storm.
That’s a once-in-a-lifetime opportunity that you shouldn’t miss out on. So, what are you waiting for? Hop onto this new promising 2021 coin while it’s still at its initial prices.
Cryptocurrency derivatives trading has exploded in popularity among crypto traders. Crypto contract trading platforms give traders the potential to turn a profit regardless of which direction the market is going – if they predict correctly, of course.
In this article, we will be checking out BigoMex, a crypto contracts platform based in Singapore. BigoMex is designed with a focus on providing a user-friendly experience, and requires no personal information from traders. Before we continue and take a closer look at everything that BigoMex has to offer, let’s quickly run through some of the exchange’s main features:
Key BigoMex features:
23 supported cryptocurrencies
Demo trading and tutorial
Friendly user interface
Up to 100x leverage on certain coins
Referral program
BigoMex features review
As we’ve mentioned above, BigoMex is a crypto contracts exchange. Users can speculate on 23 different cryptocurrencies through CFDs, which allow for high leverage of between 10x and 100x. When trading with leverage, users can enter a large position while only providing a small amount of capital as margin. This has the potential to amplify both gains and losses, so traders have to be careful and set stop loss and take profit levels. Now that we know the very basics of what BigoMex is about, let’s take a closer look at the platform.
User interface and trading
It’s pretty clear that BigoMex is primarily designed to provide an effortless trading experience for users of all experience levels. The registration process is extremely quick, as BigoMex requires no KYC and offers 3 different ways of registering an account – phone number, email and Facebook.
After creating an account and logging in, users are greeted with a very straightforward interface. Users can select which cryptocurrency they want to trade, and whether they want to go long (they think the coin will increase in price) or short (they think the coin will decrease in price).
Then, users have to select how much margin they want to use, which is the amount of capital they want to commit to the trade. Of course, since BigoMex is a leverage trading platform, the next step is to select the leverage. The leverage limits on BigoMex are set at 10x on the low end and 100x at the high end. However, 100x leverage is not supported on all the cryptocurrencies listed on the platform.
Before entering the position, users have to select their stop loss and take profit levels, which is very important when trading with leverage. Successful trades will be closed at the take profit in order to secure profits, while unsuccessful trades will be closed at the stop loss level in order to prevent further losses.
Overall, BigoMex provides a very familiar experience for anyone who’s ever used a cryptocurrency exchange, and will also be easy to learn for completely new users.
Supported cryptocurrencies
On BigoMex, users can trade 23 different cryptocurrencies, which is a very solid number for a cryptocurrency derivatives platform. Of course there’s Bitcoin and Ethereum, but the platform also supports practically all of the most relevant altcoins – Cardano, XRP, Polkadot, Chainlink and similar coins can also be traded. Among the most popular cryptocurrencies, Binance Coin is a notable omission.
All contracts listed by BigoMex are denominated in the USDT stablecoin. However, it would be nice to also have some popular crypto/crypto pairs, for example BTC/ETH.
BigoMex fees and limits
It’s possible to trade on BigoMex with a margin as low as 2 USDT, which means that the platform is accessible for both beginners and advanced users.
BigoMex does not charge a fee for opening a trading position. Instead, a 0.1% fee is charged when a position is closed.
After entering a trading position, users need to pay a fee in order to continue holding the position overnight. In the case of BigoMex, this overnight fee is charged at midnight (Singapore time). When entering a position, users can select whether they want to hold the position overnight or not.
For up-to-date information about the fees on BigoMex, make sure to check the exchange’s fee schedule.
Deposits and withdrawals
Users can deposit Bitcoin, Ethereum, XRP, TRX or the USDT stablecoin to fund their BigoMex accounts. If depositing cryptocurrencies other than USDT, the funds are automatically converted to USDT. BigoMex does not charge fees on deposits.
At the moment, BigoMex only supports withdrawals in the USDT stablecoin, with the minimum withdrawal being set at 30 USDT. BigoMex charges no withdrawal fees on USDT when using the TRON blockchain. However, users do have to pay a withdrawal fee if they want to withdraw USDT on the Omni or Ethereum networks.
Demo trading
BigoMex has implemented a demo trading mode, which is a very good feature and will help clear up some of the confusion users have when trading crypto contracts. Through the demo mode, users can perform virtual trades at zero risk, and get familiar with the platform’s functionality. Demo trading is a feature that’s not implemented by many cryptocurrency contract trading platforms, so this is definitely a point in BigoMex’s favor.
Bonus package
BigoMex has set up a bonus package where users can earn a trading bonus of up to 268 USDT. After the bonus is earned, it can be used to effectively deduct the margin when opening a position. Users can get a small bonus if they connect their phone or email to their BigoMex account, but the bonus package is primarily designed to reward active traders. As users reach more trading volume on BigoMex, they earn progressively bigger bonuses, and can earn up to 268 USDT in total.
The exchange also features a mini-game called Captain Miner, where users can “mine” small amounts of USDT 4 times per day. Users with higher deposits and trading volume will be able to earn more rewards through the Captain Miner game.
Referral program
BigoMex offers a referral program where users can earn some extra money by inviting new users to the platform. Users who join through a referral link get a bonus of 5 USDT. If you successfully invite a user, you also get a 5 USDT bonus as well as a portion of the trading fees that they pay when trading on BigoMex. This rebate starts at 10% at the lowest tier and goes up to 70% at the highest tier.
Mobile app
These days, a mobile app is a must-have for a cryptocurrency exchange, and BigoMex has its users covered on this front. The platform offers a mobile application for Android as well as iOS. BigoMex is a relatively straightforward trading platform, and the mobile app covers most of the features that are present in the desktop version. The mobile version features the same cryptocurrencies and leverage as the desktop BigoMex platform.
The bottom line
BigoMex delivers a clean user interface and a nice range of cryptocurrencies available for trading – combined with the built-in demo mode, BigoMex is a solid choice for traders of all experience levels. Most cryptocurrency fans also value their privacy, so the ability to trade without KYC will certainly be attractive for some users. For those that enjoy trading on BigoMex and use the platform actively, the referral program and bonus package will also be welcome perks.
However, BigoMex can still make some improvements to take the platform to the next level – we would like to see the option to trade crypto/crypto pairs, as well as the ability to use less leverage than 10x.
“Prediction markets are powerful mechanisms for aggregating information and improving decision making, and Zeitgeist puts that power into the hands of more people to drive mainstream adoption,” says Logan Saether, Zeitgeist’s Founder and CEO. “We have an experienced team who understands how to deliver on the promise of prediction markets, and we’re thrilled to have such an amazing group of investors backing Zeitgeist.”
Along with the core function of prediction markets, Zeitgeist is also innovating in the realm of on-chain governance. Specifically, Zeitgeist will implement a form of governance based on prediction markets called futarchy. Futarchy uses the signals gained from the data aggregation property of prediction markets to make better decisions over the evolution of the network.
“The concept of Futarchy goes hand in hand with the ethos and on-chain governance capabilities of the Kusama ecosystem,” said Tamara Frankel, founding partner of D1 Ventures. “I’m an avid user of prediction markets on Ethereum, and it’s exciting to imagine the possibilities within the Kusama and greater Polkadot ecosystems.”
“The world hasn’t yet seen a base layer blockchain that focuses on prediction market primitives. We’re really so excited to help create the platform for thousands of new prediction markets and fun experiments on Kusama to happen.” said Chris Hutchinson, Chief Marketing Officer at Zeitgeist. Ruitao Su, co-founder of Acala and an individual investor in Zeitgeist, shares his enthusiasm, “I am super excited to back another specialized network in the Kusama and Polkadot ecosystem. Zeitgeist is a network purposely built for prediction markets. I can’t wait to explore the new possibilities enabled by Zeitgeist – low transaction costs, seamless access to parachain assets such as the Karura Dollar (kUSD) or Acala Dollar (aUSD), forkless upgrades, and so much more.”
The company, which has been in active development for several months while in stealth, was officially unveiled earlier this month.
Anson Lau, who previously worked with members of the Zeitgeist team at the Web3 Foundation, and is assisting Zeitgeist with its China strategy, said, “Backing the brightest people that I worked with in the past is a no-brainer. Zeitgeist enables many use-cases that no one is working on in the Kusama and Polkadot ecosystem. I am looking forward to helping drive their mission into reality.”
Bilal Junaid, Founder of Genblock Capital, says “We have followed or invested in the prediction market space for a long time, from Augur, Gnosis, Polymarket and others. Zeitgeist aims to be the leader in this space in the Kusama and Polkadot ecosystem, and we are excited to back this talented team to build out this vision.” Yin Cao, Co-Founder of Digital Renaissance agrees, “As an active user of various prediction markets and a deep participant in lots of DAOs, I am extremely pleased to see that the Zeitgeist team can apply the prediction market to enable a true decentralized governance, which is even beyond my previous imagination of the DeFi boundary.”
“I’ve been building and deploying prediction markets for 15 years,” says David Perry, Chief Information Officer at Zeitgeist, “and I am overjoyed to be collaborating with this incredible group of investors to grow the Zeitgeist team, build amazing products, and launch the prediction market ecosystem on the Zeitgeist network.”
Interested in supporting Zeitgeist in the future, or following along for updates? Subscribe to the newsletter to be kept in the loop.
About Zeitgeist
Zeitgeist is an evolving blockchain for prediction markets and futarchy, the future of governance. Zeitgeist is built for the Polkadot and Kusama ecosystem and envisions itself as a hub and ecosystem for prediction markets on Web3. At the core of Zeitgeist is an open platform that is built with Polkadot’s blockchain framework, Substrate. Zeitgeist’s goal is to deploy as a parachain on Kusama in late 2021. Stay on the watch for the upcoming announcement and public release of our testnet, Battery Park, with an incentivized testnet program. The best way to stay informed is by subscribing to our newsletter, joining our Discord server and following our socials.
Prediction markets are speculative markets intentionally constructed to be information machines. They work by collecting information from participants and producing accurate predictions about future events. For a given event, investors purchase ‘yes’ or ‘no’ contracts depending on their belief about that event, and the price represents the probability of the event taking place. When compared with methods like opinion polls, focus groups, and expert opinions, prediction markets have demonstrated that they produce estimates which are at least as good, if not substantially better than, these alternative mechanisms.
