At one point the trading balance $100 in BTC was down to $30 then up to $120 and eventually ZERO, all within Seven hours. Trading is easy. You try to buy an asset at a price and then wait for the price to go up and sell it. That’s the expectation. There is a possibility that the price will tank instead of going up and you stand to lose money.…
Posts published in “Trading”
Today was indeed a monumental day for the crypto community in India as Supreme Court squashed the 2018 RBI circular as it fails the Test of Proportionality. This circular had prevented crypto exchanges from opening bank accounts to accept or make customer deposits. Reeling under this pressure a number of exchanges had shut their shop as they couldn’t accept deposits from their customers who wanted to buy/sell cryptocurrency. Now, following the SC order, we should witness a sea of new crypto exchanges come up in India that would allow direct…
A project to bring Bitcoin to Ethereum Ecosystem launched officially on January 30. The Wrapped Bitcoin (WBTC), an ERC20 token backed by bitcoin (BTC) reserves has started trading on several exchange and decentralised lending platforms. Stable coins backed by fiat currencies is on a rise this year. Some of them are ERC20 tokens and help grow the decentralised trading market on the Ethereum blockchain. Now we have a Bitcoin backed ERC20…
Indian investment options over the past two years have seen a paradigm shift from traditional investments to the Crypto space. This article aims to understand general trading psychology of us, Indians; who often trip over our own shoes, breeding high expectations of making quick profits in this space. The First Flaw All of us enter the crypto space wondering where to start and often find ourselves relying on someone else’s…
Some of us want quick profits from Crypto. We don’t like to HODL & PRAY. We want to buy and sell and make small profits but quickly. The process is called Arbitrage. Arbitrage is the concept of buying low on one exchange and selling high on another one. That is however the broader sense. Arbitraging can also go Three-way, buying one crypto on one exchange, sending it to another, exchanging it…
Every single cryptocurrency related website has a disclaimer that more or less says Crypto is risky, be careful. Some even say only invest what you can lose. But these are words easier said than followed. Most of us and I am including myself have invested and traded crypto hoping for sky high returns. In the similar hope from get rich quick stories of others, we have borrowed capital and invested money…
So here I come up with the million dollar question right now. I may not be able to answer it accurately, and I can’t also predict where the market will head to, but at max I can come up with theories, which may in future be true to some extent. Or, they may also be false. so before coming to any conclusion, I request you to thoroughly do your own…
PayTM, India’s widely used Digital Wallet-turned-bank boasts about 200 million active users on the app. With numbers as staggering as those, no wonder PayTM is providing payment services to all kinds of Business. Now, you can even buy Bitcoins using PayTM. No, you cannot buy it directly from the app, although that doesn’t seem like an impossible scenario in future. There are few websites from where you can purchase Bitcoins and pay…