Blog

Since cryptocurrencies were introduced, the digital economy has experienced quite a dynamic shift. A lot of people are gradually learning about cryptocurrencies. With more people interested in the digital economy, there was a need for trading platforms where investors could exchange their cryptocurrencies for others. There are several platforms that have since sprung up, helping a lot of investors in the process.

However, despite all the trading platforms coming up, it is important that you find one or a few that are reputable and reliable. At Coincheckup we believe that a good trading platform should make you feel confident about your investment. For many investors, making the right choice is not usually an easy task given all the trading platforms available. The developers behind these platforms are careful enough to make sure they design amazing user interfaces to ensure that you can get easy access to the platform. 

Every investor has unique needs and requirements that must be met in any trading platform. One thing you will realize if you sample a few of the trading platforms is that all of them cannot meet all your needs at the same time. It is, therefore, important that you find one platform that meets your most important needs. To do that, you have to look at the features inherent to each platform and compare it with what you hope to get from a reliable investment platform.

Features of Quality Investment Platforms

With all the alternatives available for trading cryptocurrency, there is so much you need to look at before you settle on the best platform for your investment. Below are some of the most important features you should consider:

• Safety and Security

You must treat this as you would any other investment, especially in the traditional money market. All the precautions that you take when investing your money in the forex market or trading in shares at the stock exchange will also apply when looking for a reliable trading platform for cryptocurrency.

The good thing with most of the exchanges today is that they shored up their security so you do not have much to worry about. A secure trading platform will have an SSL certificate. When you visit their platform, the website URL should have an HTTPS. For someone who is not tech-savvy, this is to protect your personal data from hackers. 

There are many unscrupulous individuals online who prey on unsuspecting users and trading platforms that might not have the best security features so far. Other than the security measures that the trading platforms put in place, you should also be careful about your user information. You must make sure you only log into your accounts from trusted computers, and sign out of your account when you are done with the session.

• 2-step Authentication

Any serious organization that holds user accounts today will have 2-step authentication to protect user accounts. The benefit of 2-step authentication is that even if someone has access to your access credentials, they must go one step further and have your mobile phone too, because each time you sign in, you receive a message on your phone as an additional layer of protection.

All of the major companies like Google and Dropbox are using 2-step authentication today, so it is more of an industry-standard in account security. Therefore, this is one of the features you must look for before you invest your cryptocurrency in any platform.

• User Reviews

User reviews tell a different tale from what the company might want you to believe. Remember that these companies are businesses and they try to market their services accordingly. The best way to know more about a trading platform is from the perspective of users who have invested with the company too.

There is a lot of information you can deduce from the user reviews. First, you will know about the overall trading experience that each user had. This tells you whether your investment is safe here or not. How long do they take to process your funds? 

Another important lesson you will realize from the reviews is whether the platform has been hacked before. Platforms that have suffered more than one hack are not worth your investment. However, there is a lot you can learn about the hacks too. How did the company respond to the hack? What did they do to prevent similar cases in the past? The fact is that the majority of the trading platforms have been targeted for attack in the past, some successful, and others unsuccessful. According to the GDPR regulations, organizations that have been victims of a hack are required to inform their users as soon as possible.

• Coin Liquidity

If there is one thing you need to look for in a reliable trading platform, it is the coin liquidity. You need a platform that handles a high volume of trades. This also means that they have high asset liquidity. A platform that has a high liquidity is a good place for your investment. This is because they have sufficient assets being traded on their platform.

At the same time, look at the trading pairs that are available for investors. In this case, a lot of people focus on the major trading pairs, like ETH/LTC, BTC/USD, or BTC/ETH. This is okay, since these are the main trades that many investors perform. However, a good platform should go beyond the ordinary. Do they also support rare currencies? Make sure you confirm whether the trading platform handles the trading pairs that you are interested in.

• Payments and Commissions

How much commission are you paying the platform? This is one of the features that you should think about when looking at trading platforms. As a rule of thumb, try and look for low commissions. This way, you save more on each trade. However, it is also important that you understand the terms and conditions applicable to the fees and commissions.

What payment options are available? This is an important consideration because you need payment options that are relevant to your region. Traditionally, many trading platforms support wire transfers, credit and debit cards. However, you can also benefit from those who include PayPal, Skrill and other digital payment options.

The past few years have involved a lot of discussion about cryptocurrency online. We have read stories of people who turned into overnight millionaires by owning a few cryptocurrencies here and there. It is not always bliss because we also know of those who have lost almost everything in the pursuit of the crypto wealth. This brings us to the important question, how can you invest in cryptocurrency?

Back when the crypto conversations started, most people were talking about Bitcoin. However, things are different today. There are more cryptocurrencies in the market and many others are in the pipeline. With an increase in tradable assets, you have a lot to consider in terms of your investment.

Just like the traditional money market, there are lots of opportunities you can invest in using cryptocurrencies. These are cryptographic tokens that are immutable and exchangeable and you can even convert them into fiat currency. 

Reasons for Investing in Cryptocurrency

Proponents of cryptocurrency believe that in the foreseeable future, cryptocurrencies will be effective substitutes for global currencies we are used to, like the Euro and Dollar. But, why should you invest in cryptocurrency?

Cryptocurrency offers an opportunity for you to hedge your wealth against a slump in the traditional currencies. If you hold a lot of wealth in dollar currency, for example, it might be wise to invest in cryptocurrency such that in the event of a market downturn as we experienced in 2008, you do not suffer a significant hit.

We live in a world that is advancing so fast with different groundbreaking technologies coming up all over the place. Cryptocurrency acts as a guide into the new world. The traditional money market might have been efficient for many years, but it has its unique challenges that are addressed by cryptocurrencies. One of the challenges with the traditional market is that it is full of middlemen. The problem with middlemen is that they always drive up the cost of transactions, and increase delays. These are some of the challenges that are addressed by cryptocurrency.

Before you think of investing in cryptocurrency, you must take your time and understand what they are about. This is not just about the technology behind it, but also the process and procedures involved. When you learn more about cryptocurrency, you have a better chance of spotting promising investment instruments and buying into them at a good price.

While this is a good idea, you also have to take precautions not to fall victim to the fear of missing out. This is one of the challenges that led many people to lose their money after investing in cryptocurrency. Don’t just buy into the hype because you like what you read online. Take your time, investigate, research and with relevant information, decide on the best cryptocurrency to invest your money. 

Like any other investment, there is no quick money-making scheme in cryptocurrency investment. If you approach it in this manner, there is a good chance you might lose your money. There are also many unscrupulous dealers who actively search for gullible traders and take advantage of them. If you look at the price of Bitcoin, for example, between December 2016 and 2017, the price rose from an average of $750 to $10,000. Stories like these got a lot of people interested and invested in Bitcoin, most of them without knowing what they were getting into. With more speculative investors buying into the currency, it was only a matter of time before the tables turned and a lot of people lost their money.

This brings us to the importance of understanding cryptocurrency. When Bitcoin prices dropped, all the other currencies in the market suffered too. What we learn from this is that you have to identify the correlation between the major cryptocurrencies and any other cryptocurrency in the market, assuming you plan to invest in something other than the major ones.

How To Invest Wisely

The crypto market is highly volatile. Because of this reason, you can expect things to change more dramatically than they do in the traditional financial markets. One of the reasons for this is because cryptocurrency is not a normal investment instrument. Besides, when you look at the possibilities involved, many countries are still unsure about the prospect of cryptocurrency, so a lot of the central banks are cautious about it. You, therefore, need to invest only when you are certain you can convert your cryptocurrency into regular currency.

You will notice on trading platforms that there are many other cryptocurrencies available. You do not have to be limited to Bitcoin, Ethereum or any other of the top currencies in the market. Such currencies are referred to as Altcoins. The closest explanation of an Altcoin in the regular investment market is penny stocks. Are they worthwhile investments? Well, think about the fact that the Bitcoin share in the market was around 90% in 2017, and fell down to around 50% in 2018. This is proof that there are new and exciting currencies in the market.

Bitcoin might be the leader in the crypto market, but it has unique challenges that prompted the crypto community to consider other investments. Besides, it is never wise to put all your money in one basket, especially for an investment like cryptocurrency where the level of regulation is pretty much non-existent.

Before you invest in any platform, you must take precautionary measures to safeguard your wealth. One of the first things you are advised at CoinCheckup to do is to read the whitepaper of the crypto project you are investing in. The whitepaper gives you a lot of information regarding the currency. You learn about the team behind it, their goals, vision, and what other cryptocurrencies it is leveraged against. The more information you can get from a whitepaper, the better an investment prospect it is. This is because these reports are authoritative and inform you more about the crypto project. Therefore, if you are about to invest in an ICO and you do not find a whitepaper, you need to reconsider your options.

It was not so long ago that the idea of blockchain was no more than a vague concept for many people. As more people got accustomed to it, interest in cryptocurrency grew, and with that, many cryptocurrencies sprung up. The proliferation of cryptocurrency was, for a long time assumed to be a preserve of a few people, especially those who had the technical know-how on matters concerning cryptocurrency. This is not the case anymore. As is expected of anything that hits the internet, many people have come to learn about cryptocurrency over the years, and with that, they also learned of its potential and so many ways they can invest in cryptocurrency.

At this point in time, most people interested in cryptocurrency are aware of what it is, what a crypto exchange is and the impact that this technology has in the world today. Concerning its potential, there is so much you can learn about cryptocurrency to help you tap into the benefits of this technology.

Controversial Technology

While there is so much that we have learned about cryptocurrency over the years, one thing we cannot do is shy away from the controversy around it. Many are the debates that people have about cryptocurrency, and more importantly, whether it is just another bubble that will burst and they end up losing everything.

In the past, we have seen the price of Bitcoin, for example, rise to unprecedented levels. This sparked a lot of chatter about how stable it was, among other things. Soon after, the price went on a free-fall and later regained its momentum again. For speculators, such upheavals would send investors into panic. However, there is no need to panic because this is normal and expected, even in the traditional financial markets. 

What you need to do, as an investor in cryptocurrency is to, first of all, make sure you are informed. This is where many people go wrong. Without information, a vacuum exists, which can easily be filled with half-truths, hence sparking a lot of controversies even where none should exist.

The Benefits of Affiliate Marketing

Cryptocurrency is about more than money. It is also about unique ecosystems. Most people limit their imagination of crypto to the monetary value. However, there are many other options available. Take Algo Affiliates, for example. This is a platform where users can use crypto to support their marketing campaigns.

As a marketing expert, you are aware of the immense potential that your business can enjoy with proper marketing. From advertising new products to informing customers of new changes in your business line, marketing your brand the right way will have significant benefits to the business.

Through Algo Affiliates, you have an opportunity to engage and widen your network of affiliates and customers. Like any other affiliate marketing approach, merchants are attracted by commissions. You will find the tools, services, and systems available coming in handy for your business. Their unique affiliate system is creatively designed by experts in different fields to ensure that you have nothing short of a good experience with your business. 

Two of the most important things most marketers aspire to achieve are high retention levels and conversion rates. While most of the work involved to achieve these will depend on your input, Algo Affiliates has the necessary infrastructure to help you achieve your goals. You are leveraging some of the best technology in the market to push your business to the next level.

Another feature that affiliates need is the assurance that they will get all-round support. Algo Affiliates has a 24/7 support system to ensure that users get all the help they need. Support comes in handy in many cases, especially around payments. While payments are made promptly in most cases, there are isolated cases where issues might arise, hence a slight delay. In the face of such inconveniences, it is important to have the assurance that someone is working round the clock to sort out the issues for you.

When you get into affiliate marketing, you want to know what is on the table. What makes this a better offer than anything else available elsewhere? Partners are at the heart of the affiliate marketing business, so the company also makes certain that they can do what they can to support them. You can look forward to the cost-per-acquisition offer. This is an arrangement where users who refer merchants earn from their effort. Therefore, what you need to do is to ensure you get as many merchants to the network as you can since the payment is proportional to the referrals. There are other benefits alongside such payments, including hybrid deals and revenue share where applicable.

At CoinCheckup, one of the features we appreciate about the brilliant minds in the crypto industry is innovation. Developers, businesses and many other stakeholders go out of their way to ensure they deliver products and services that challenge the traditional way of doing business. 

On matters of innovation, Algo Affiliates tries to rejuvenate your marketing approaches through innovative ways. The fact that there are a number of well-known brands in the industry working hand-in-hand with this team is a confidence boost for many investors. Getting brands like TradoLogic and AirSoft on board is proof that you too, can make use of the marketing services offered by this company.

Your business should not lag behind. It is so much easier to connect with and engage customers from different parts of the world and increase your market coverage through an elaborate affiliate network. Members who join your affiliate network can also look forward to the financial benefit of referring new merchants, which increases the likelihood of your marketing efforts bearing fruit.

Like we mentioned earlier, one of the most important things you need before venturing into the world of cryptocurrency is information. The more you know about cryptocurrency and affiliate marketing, the easier it will be for you to capitalize on its potential and use that to your advantage, helping you achieve your business objectives in the process.

Unlike stock markets, cryptocurrency markets don’t close, and this presents a very stressful scenario for both casual investors and seasoned traders in the industry. The cryptocurrency market is also very volatile.

In the event that you’ve been kicking yourself for not getting in on the ground floor of blockbuster coins like Ethereum and Bitcoin, you should think about investigating putting resources into an ICO (Initial Coin Offering) but it’s a bit risky. And if you’re a crypto investor, you’re probably familiar with the feeling of waking up to massive losses or large gains in your portfolio.

A trading bot is software that collaborates straightforwardly with financial exchange and submits a purchase or sells requests depending upon the elucidation of the market information. The top 5 crypto trading robots that are currently operating in the market are listed below;

• 3Commas:

3commas is one of the most famous electronic crypto exchanging bots. It supports numerous devices and supports over 12 exchanges and so its users can track multiple orders on various exchanges and develop informed trading strategies.

3 commas enable you to make maximum profit by allowing you to simultaneously establish the price point at which you wish to sell to make a profit and the price point at which you wish to sell to stop losses.

• Kryll.io:

Kryll.io is a cloud-based platform for automated trading that allows creating your strategies with their unique Drag n‘Drop builder. Alternatively, you can buy one in their marketplace where users can monetize their strategies.

After running a back-test of a certain strategy, one can estimate how much it will cost. This trading bot is loaded with new-age features to facilitate seamless automated trading.

• Gunbot:

Gunbot is another popular trading bot that is compatible with several trading platforms including Binance and GDAX. The bot has 32 different pre-configured trading strategies which give users a wide array of options to generate some passive income. 

It features lots of inbuilt strategies which include Bollinger Band, Ping Pong, and Step Gain. Most of its users think that the BB strategy is the best and will rake in huge profits for them.

• Cryptohopper:

Cryptohopper utilizes cloud technology to keep the bot running 24/7, unlike most trading bots that run on the local machine and run only when the PC is turned on. Their bot is also very easy to pick up for new users because they are the only trading bot to embed external signalers, allowing inexperienced traders to let their bot trade on autopilot under the expertise of these signalers.

• CryptoTrader:

Cryptotrader is one of the most well-known standard bots, which clarifies why it underpins such a significant number of cryptographic money trades. With its large community of users, there is no doubt that we are dealing with a legitimate project.

Conclusion:

To be a successful trader, you need to have a lot of technical understanding of the market and cryptocurrency trading trends. Therefore, https://insidebitcoins.com/bitcoin-robot/bitcoin-trader which is an auto-trading software will assist in making trade decisions regarding rising and fall. 

In its almost 11 years of existence, bitcoin has evolved a lot over the years—in the way that it’s bought, sold, stored, and traded. Now, we’re used to not even creating a bitcoin wallet as most are provided upon registration. However, in its early days, there was only one main way to buy and sell bitcoin: traditional bitcoin exchanges. 

If you’re not familiar with how a traditional bitcoin exchange works, they’re pretty much one of the simplest ways to buy and sell bitcoin. On these platforms, users usually link their credit/debit cards and order books are used to match buyers and sellers. From that point, the platform then acts as a middleman to help both the buyer and seller complete the trade. As a result, the buyer and seller have little to no interaction with one another (and to some, the anonymity as appealing). This has made it much easier for enthusiasts that are new to trading and since these are the earliest form of bitcoin exchanges (they’ve been around longer), they’re one of the more popular methods of buying and selling bitcoin. 

However, with the recent developments of bitcoin, new ways have arrived and are starting to prove themselves as contenders. This is where the peer-to-peer marketplace comes in. In recent years, peer-to-peer bitcoin marketplaces have seen a growth in popularity. This can be attributed to many things, but we’ll get to that later.

Making Trades Personal

Peer-to-peer bitcoin marketplaces, just like traditional bitcoin exchanges, usually make use of order books to match buyers and sellers. However, unlike traditional bitcoin exchanges, the platform doesn’t act as a middleman. Instead, peer-to-peer marketplaces match buyers and sellers and they complete the trade themselves—personalizing the entire trade experience. The personalized trading experience allows for several benefits: a wide variety of payment methods, more efficient communication with your trade partner, cost-efficient trades, and many more. 

To give you a better idea of this type of platform works, let’s use Paxful, one of the leading peer-to-peer bitcoin marketplaces in the world. Once you sign up on Paxful, you get a free mobile wallet, saving you the trouble of having to create a bitcoin wallet. After registering, you’re ready to trade!

As a buyer, you’ll be able to input your preferences to filter the offers you’ll be seeing. For example, you can choose the currency you’ll be trading with and what payment method you’ll be using (there are over 300 on Paxful). From that point, you’ll be shown a list of offers that match your preferences. As a seller, you can create offers according to your needs. You’ll be able to set preferences such as profit percentage (how much money you’ll make on the trade), payment method (what you want to buy for your bitcoin), payment window (trade expiration), and many more. 

Peer-to-Peer Marketplaces vs. Traditional Bitcoin Exchanges

Despite peer-to-peer bitcoin marketplaces being the “new kid on the block”, the medium of trade has seen a growth in popularity. This is because there are two main problems that traditional bitcoin exchanges have (which peer-to-peer marketplaces fix). 

First, the fees on traditional bitcoin exchanges can stack up quite a bit. Since the platform acts as a middleman for the trade, more fees are often charged for their services. Peer-to-peer marketplaces, on the other hand, only interact with the traders if there’s a dispute—meaning fewer fees are charged. 

Second, traditional bitcoin exchanges cannot cater to the unbanked population of the world—which is bigger than you think. Bitcoin enthusiasts that come from struggling economies will have a problem gaining access to a bank account and/or credit card. This will deny them the privilege of being a proud bitcoin owner. Peer-to-peer marketplaces like Paxful do not require users to link their credit or debit cards to their accounts, allowing people from all over the world to take part in the bitcoin movement. 

The personalization of the trading experience can create more cost-efficient trades for users out there—a quicker, cheaper, and safer way of buying and selling bitcoins as compared to trading the “old-school” way. 

Peer-to-Peer Finance and Its Real-World Applications

Peer-to-peer marketplaces aren’t only making trading safer and more cost-efficient, they’re also making bitcoin more than just an investment tool. Peer-to-peer finance is giving a financial passport to people that need it the most and with it, they are developing new and innovative real-use cases for bitcoin. 

For example, everyone knows that making online payments (especially abroad) can get a little tedious and expensive because there are several financial intermediaries and barriers to consider. With peer-to-peer finance and bitcoin, people are finding ways to circumvent all of them—allowing for a safe, cheap, and quick means of making payments. This is also why sending bitcoin remittances is starting to become popular as well—there are no barriers and the fees are usually cents on the dollar as compared to traditional means of remittance. Another example of bitcoin and peer-to-peer finance as a means of survival is wealth preservation. Countries like Venezuela are experiencing extreme inflation rates and instead of watching their fiat deteriorate into nothing, people are actually converting their money into bitcoin and other cryptocurrencies. 

All these real-use cases are being optimized on peer-to-peer platforms, which is one of the reasons it has seen a growth in popularity over the years. As more and more real-use cases are developed, we’ll also probably be seeing a growth in overall bitcoin adoption—only time will tell.