Traders who are keen on purchasing tokenized Tesla stock from Bittrex can do so from now onwards. Additionally, users and traders can buy shares of Google, Apple, and others on the Bermuda exchange.
A news post on Decrypt which is a crypto exchange is going to list several tokenized stocks on their platform. This is in partnership with DigitalAssets.AG. Investors and users can now invest in the listed companies without having to pay additional fees.
Traders do not have to make use of a traditional brokerage to do so subsequently. The stocks that are tokenized are the latest in the cryptocurrency market. They are a sign of things to come. These stocks are traditional securities, in which public shares from the companies get traded using a regulated exchange.
It was not provided earlier to users and traders. Thanks to the developments in representing values on the digital token, these steps were possible. Kryptodragon7, a crypto enthusiast and an investor, had this to tweet on the development.
Tom Albright, CEO of Bittrex, said that the technology used in the blockchain world is immensely capable of providing what the financial sector wants. Bittrex Global wants to perform their duties fully to ensure that traders get their fair share.
They are able to make capital and garner wealth possible easily. According to the statement of the company, 12 running shares will now be listed on Bittrex, that include Tesla, Google, SPY, and Facebook.
The exchange-traded fund consists of some of the top companies operating in America. Hence, users can purchase shares using US dollars, Bitcoin, and Tether. They will be provided shares round the clock.
Besides, users can purchase a fraction of a cryptocurrency. Traders can buy $10 shares as tokenized stock. However, if market liquidity occurs, where sellers and buyers can trade the asset at a specific time could vary on the time of the trading day.
Bittrex claims that they plan to increase tokenized offerings and financial products like indices, ETFs, and asset classes, in the near future. This step has been a long time due to the crypto market.
People familiar with the matter said that it was only a matter of time before exchanges issued famous companies’ tokens. This ensures that traders who invest can earn more cash through it.
Bittrex now joins crypto exchanges Bitfinex and FTX, who started their own tokenized stocks earlier in 2020.
Grzegorz Korycki is a software developer with a niche skill set that has seen increasing demand over the last few years, and with very good reason – he can design and program cryptocurrency trading bots to do his bidding.
Korycki founded Tradecraft, a site where users can rent the services of his bot which has already earned over 50 BTC for clients in under two years through smart trading.
He spoke with CryptoIsComing and told us a little more about himself, his work, and the nature of his trading bot.
What is your professional background?
I was a hobbyist programmer since I was 7 years old. I started to do it professionally 5 years ago when I was 30 years old. Before I created any bots, I was working for free for over half a year with a forex trader – he had some ideas about bots and I helped create him one. After that, I created my first commercial bot, called “Grid Harvester” for the Forex market
What led you to decide to create a trading bot?
I realized the unsustainability of the debt-based fiat currency model and the hidden inflation it is subjecting us all to – it was then that I decided to explore trading. When I stumbled on crypto in 2013 it seemed like a perfect solution for the problems our system has.
By 2016 I still hadn’t created my first bot for crypto – I needed to gain some experience. I tried reaching some higher-profile crypto traders in 2014 in the hopes of working together on such a bot, but this didn’t work out. The truth is for every bot idea that works there are 50 different bot ideas that don’t work.
Before I created bots that were successful I tested many different unsuccessful bots. Ideas for the crypto bot were taken from my other bot for forex market. Creating bots for cryptos is easier in a sense than for the forex market, as in Forex you compete with algorithmic trading from the banks that pay hundreds of thousands if not millions of dollars for their algorithms and have ultra-fast servers. It is hard to compete there.
On the other hand, the infrastructure is much weaker in crypto world – we don’t have any trading platform that could be compared with for example MetaTrader, that was designed for the forex market.
What can you tell us about the bot?
The bot trades bitcoin vs altcoin pairs and focuses on the aspects on trading that manual traders can’t execute. It’s more of a scavenger, because profits from a single transaction are usually very small and the mathematics leading to executing them are complex – therefore they are not attractive for manual traders – the risk/reward ratio doesn’t apply. That fact greatly diminishes the competition that could impact potential profitability.
Who would benefit from the use of your bot, and to whom is it commercially available?
So far it made about 50 BTC for its’ clients during 1,5 year period. Normally the bot is only available to members of one of the trading groups. New clients are only obtained by referral system of existing customers.
As a promotion, we made 10 slots exclusively available for users of cryptoiscoming.com.
Please send your email to firstname.lastname@example.org writing “cryptoiscoming” in the topic with a resume, the amount of bitcoin you want to invest, describing your experience in cryptocurrencies, when did you first started trading them and other proof that you are an experienced traders.
Not all applications will be accepted, but if there are more good applicants than free slots you will be added to a waitlist. Applications will be accepted until 01.11.2018. Be aware that we are during a bear trend now, so the profits may not be impressive or we may even have some losses, depending on settings.
How much of the crypto market’s trading volume do you think is comprised of bot trading? Is there a way to measure this?
I haven’t thought about that much – as with every market, the older and more sophisticated the markets get, the more trading volume is executed by the bots. Now every single exchange has an API, which makes creating bots much easier and drives trading volumes higher.
What effect does mass bot trading have on the market? Are all of the bots active on the market effective at earning profits?
They add liquidity to the markets and make the books thicker. They can participate in pump and dump schemes, they help in the process called price arbitrage, which makes the same symbols on different exchanges to have similar prices.
There are profitable and unprofitable ones. I bet more of them are profitable, when we are in bull trend, because new money is arriving to the market, than in bear trend when money is leaving. If I had to guess I’d think that the bots’ profitability in the long term follows some form of Pareto distribution.
I have heard that some trading bots are now operating out of their owner’s control, is that possible?
Never heard of that theory, but it is certainly possible. Bot can get out of control due to bad programming, random events or hacks. Sometimes bugs are lurking in the shadows to hit at the least expected moment. This is why it is a good idea to build a strategy back-testing environment to minimize the risk, but it’s impossible to avoid everything.
Over a week ago Bittrex changed how they accept API calls without explanation or warning – the bot was unable to execute any commands and it took a week to sort it out. We may enter the era of out-of-control trading bots, when they will be running as smart contracts, as there is much less room for error in that kind of environment.
What are your plans for the future of the bot? Do you plan other projects?
Now I am working on A history back-tester – next step is to make it available to users of the bot, so they can see how available pre-sets are performing in the past.
I have few projects waiting in line, but I still haven’t decided, which I will go with. One of it is an environment to create your own trading bots with the possibility of testing those bots on historical data.
I have few other projects in store, but I’d prefer not to disclose the details, due to the nature of the business. What I can say is that all my future project plans are connected to crypto-currencies in genres like trading, programming and gaming.
As of September 5, Bittrex, a popular U.S. trading platform for cryptocurrencies, has announced a new partnership with Cryptofacil. The two companies are planning to launch a new cryptocurrency trading platform that will house over 200 types of digital currency.
The trading platform will use Bittrex’s already established trading technology, combined with Cryptofacil’s team in charge of overseeing customer operations and development to reach cryptocurrency users across Latin America and the Caribbean.
A New Cryptocurrency Trading Platform
According to Cryptofacil’s founder, Andres Szafran, the partnership will give Cryptofacil a significant advantage and will position them as a leader on the Latin American and Caribbean cryptocurrency markets.
The new platform will offer more than 270 different cryptocurrencies and will provide its users with competitive market fees and a simple interface where they can efficiently manage their trades.
“We developed Cryptofacil to focus on basic customer requirements: a simple and easy to use cryptocurrency platform, with superior customer support, and value-added services in a safe and secure environment,” said Szafran.
Bittrex is a well-established cryptocurrency trading platform that is based out of the United States. Therefore, the new partnership will only drive them further towards reaching their goal of worldwide adoption of their platform.
In essence, the partnership is aimed at offering a fast, reliable and safe trading platform for cryptocurrency users in Latin American and the Caribbean. Furthermore, the platform will give users in the area access to some of the world’s most groundbreaking blockchain projects by providing users access to their tokens.
Not only will the new platform provide an opportunity for users in these markets, but it will also offer those who want access to more digital assets with a solution to their problem.
Looking To New Horizons
Initially, the platform will only be launched in Latin American and Caribbean countries. However, there have been talks of expanding the platforms trading services to global markets in the future.
According to Bill Shihara, the CEO of Bittrex,
“It is partnerships like this one that will serve to not only support the blockchain industry but also to incubate innovative projects using this revolutionary technology.”
For all the talk of adoption, new partnerships, government-issued cryptocurrencies, and ever-increasing mainstream media coverage of the cryptospace, the market is really an emotional beast that can tank at a moments notice.
I’m not saying that to put anyone off – it has historically always rebounded bigger and better than ever, but corrections are hard, fast, and unpredictable. Often a bear market creeps up unrelated to the technical side of things, and like a snowball rolling down a mountain, it can start to build in size and speed until something truly enormous is taking place.
Today the market lost $16 billion in value.
Boom, gone. Arguably this was due to Japan’s FSA issuing six exchanges with business improvement orders resulting in bitFlyer temporarily halting the acceptance of new customers and reviewing current customer ID as part of their new anti-money laundering measures. That alone could easily spook the market and put off the many libertarian investors to whom Bitcoin and cryptocurrency is a way of distancing themselves from the government and taking control of their own finances.
Also people who are, you know… laundering money.
If the FSA’s measures were indeed behind the most recent decline, however, it was likely one of many relatively minor factors that ends up triggering a major event such as that seen today.
Traders can scour the news, read over the charts, and toss the chicken bones and examine the tea leaves, but at the end of the day things don’t always go according to plan.
There are, however, certain common psychological phenomena that commonly occur in any marketplace, and crypto is no different.
Enthusiasm, Greed, Denial, Fear, Capitulation
Sounds kind of scary. These are actually trends seen in the rise and fall of a typical price bubble – however, with Bitcoin and the cryptomarket as a whole, we’ve already repeated this phase several times.
I wish I had kept my 1,700 BTC @ $0.06 instead of selling them at $0.30, now that they're $8.00! #bitcoin
Greg Schoen sold 1,700 BTC in 2011 only to see the price skyrocket from $0.30 to $8.00. Then to $80, $800, $8,000 – even in this current bear market with BTC at $6,000 as I write, those BTC are worth over $10 million. Gregg was around for many Bitcoin bubbles – according to the ‘Bitcoin Obituaries’ website, Bitcoin has been pronounced dead in the media over 300 times and counting, each time suddenly resurging once again. With each wave of volatility came waves of emotions, pretty much in the same order.
Enthusiasm: Hey, this Bitcoin stuff seems pretty cool. You know, I think it’s actually kinda going somewhere! I don’t know too much about it, but I’m gonna buy in and see where it goes.
Greed: Man, have you seen the Bitcoin charts? This shit is crazy, if I get in now I can retire when I’m 12 and live in a tower made of Lamborghinis stacked as high as the god damn moon!
Delusion: This is it. That $472 I put into Bitcoin is going to make me among the richest beings in the multiverse. When I talk, people will bottle the air around my head and sell it on eBay to feed their children. 1 Satoshi is going to be the new $1 million, and I will be so rich that I literally cannot die.
Denial: Alright, things are taking a bit of a downward turn. You think I’m gonna cash out now? Are you high? Did you not hear that thing I said about my bottled breath being more than you could make in a year, you idiot? It’s just consolidating, don’t stress me out like that.
Fear: OK what the hell. What the hell is this. Do I bail? This is still more than I ever thought it was going to be worth when I got in, but that was then. I’m HODLing this shit until you pry my digital assets from my cold, dead, cryptographically encrypted fingers.
Capitulation: It’s over. I surrender – no lambo tower to the moon, no godlike immortality – this Bitcoin stuff is stupid, and I hate it, and I hate you, and I’m selling my laptop and moving to Alaska to chop trees and drink myself to death.
The Cycle Continues
Here’s the thing about bubbles – they burst, they reform, the cycle continues. No-one can predict when an asset’s value is really “dead” or whether it’s just resting its eyes – the bubble cycle we listed earlier is a variation of a commonly recognized Wall Street cycle in the emotional journey of investors. This can happen on a macrocosmic level as seen in the 2017/18 boom and bust of the crypto market which brought it into the mainstream media at last, but it happens on a much more frequent and minuscule level with market assets all the time as well, even on a day-to-day basis.
People looking to trade cryptocurrencies would certainly do well to learn technical analysis, which in particular is relevant for day-trading – however, it’s important to consider TA in the context of market emotions as well.
In hindsight, investing at the ATH of Bitcoin in 2017 was not a smart move (pfft, not that I would know anything about that), but it’s only when considering the market in terms of the above psychological cycle that such a thing is crystal clear.
Bull markets sweep people off their feet with the infectious greed and/or excitement of making a lot of money, while bear markets pose opportunities as well for those who think they can time the market and read the writing on the wall. In a bear market, there’s the constant risk of catching the falling knife and cutting your hand open (i.e., thinking you’ve bought in at the bottom only for things to, you know…)
At the end of the day, bull.bear market psychology is really interesting stuff that gives us insights not only into the markets but into ourselves as a society. A society of reactionary, greedy, easily terrified, hysteric lunatics. That’s deep.
On Wall Street, the VIX is an actual fear gauge used by traders to literally measure market fear and volatility, and a prominent Wall Street investor recently said that Bitcoin was actually predicting the movement in the VIX charts, an earlier measurement of market fear than the VIX itself.
Anyone interested in learning TA to try their hand at day trading can check out resources like The Chart Guys to get neck deep into trading charts and price indicators, but always remember – the thing that will affect the price more than any other factor is human emotion. Those red and green candles are a brain scan of the collective consciousness of the market as a whole, and you need to be just as good at recognizing the emotions of others as you are at being logical with your own if you want to take part.
Check out the best investments from the most well known cryptocurrency hedge fund. Most common name is Zilliqa (ZIL) with most funds having a piece of the ICO and getting a 20x plus investment. Some of the others found are OmiseGo, Golem, Ontology, 0x and ICON. Noticed that only Bitmain invested on TRON and was also expecting more of these funds having a piece of the Tezos ICO.
Definitely a trend seeing a higher percentage of cryptocurrency protocols near the top compared to utility tokens. I think this is a trend that will continue throughout 2018 and beyond as the majority utility tokens phase or can’t overcome the velocity problem. Also not seeing a ton of overlap in the bottom tier of this list with hedge funds taking shots on a broad list of ICOs. Hyper Chain Capital leading the way with four 20x plus ROI projects, having invested in GNT, OMG, ZIL.
Will be interesting to see this list by year’s end. A lot of interesting ICOs going on right now that are either just about to launch or have recently launched on exchanges. Will the 100x returns still be there as the ICO markets get flooded with new tokens and security tokens begin to garner more attention….who knows.