Get the current mid-market rate for USD (US Dollar) / CHF (Swiss franc) for Tuesday August 18, 2020 right here.
The latest rates for USD (US Dollar) / CHF (Swiss franc) are available below. As a leading finance news site the team at Born2Invest collates and analyses the latest forex market data to bring you live information to help you make the best forex trading decisions every day.
Tuesday August 18, 2020 1 USD (US Dollar) is 0.90333 of CHF (Swiss franc) .
Remember to always trade using a reputable broker. It’s also possible to apply many forex concepts to cryptocurrency trading.
Forex trading is risky and complicated. There are countless pairs to choose from and it’s easy for a novice trader to become overwhelmed. Information is power and Born2Invest has curated some beginners forex trading tips to help you get started.
Currency pairs are the foundation of forex trading. Whenever you purchase one currency you sell another. Every pair has a base currency, in this example USD (US Dollar) and a quote currency, or CHF (Swiss franc).
A currency pair represents how much quote currency, or CHF (Swiss franc), that needs to be spent in order to purchase one unit of USD (US Dollar), the base currency. In the current example you would need to spend 0.90333 of CHF (Swiss franc) in order to purchase 1 USD (US Dollar).
Forex pairs fall into three categories; the majors, the commodity currencies, and the cross currencies:
Cryptocurrencies share many aspects with forex trading, namely the concept of currency pairs and high volatility but there are some key differences. Cryptocurrencies aren’t currencies persae, and are usually traded against Bitcoin, which takes the role of USD on many exchanges.
It is also difficult to trade cryptocurrency outside of exchanges and there is more security risk than trading with a registered broker. One way around this is to use a CFD broker which enable traders to purchase contractors for specific amounts of crypto, without directly owning it.
CloakCoin Price Up 20.2% This Week (CLOAK)
CloakCoin (CURRENCY:CLOAK) traded 3.6% higher against the dollar during the one day period ending at 16:00 PM ET on August 17th. During the last week, CloakCoin has traded up 20.2% against the dollar. One CloakCoin coin can currently be bought for about $0.19 or 0.00001526 BTC on major cryptocurrency exchanges. CloakCoin has a market cap of $1.03 million and $20,386.00 worth of CloakCoin was traded on exchanges in the last 24 hours.
Here is how other cryptocurrencies have performed during the last 24 hours:
CloakCoin Coin Trading
CloakCoin can be bought or sold on the following cryptocurrency exchanges: . It is usually not presently possible to purchase alternative cryptocurrencies such as CloakCoin directly using US dollars. Investors seeking to acquire CloakCoin should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase CloakCoin using one of the exchanges listed above.
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Author: ABMN Staff
Meet Burstex: First Public Crowd Owned Exchange
Burstex.io is the world’s first crowd owned crypto exchange built on the Burst blockchain. It will be a crypto exchange where the profits will be distributed amongst the shareholders.
Burstex crypto exchange roadmap began in the first quarter of 2019 when the founders formulated the idea. However, not until the second quarter that the founders had a clear mission on what to build. Having gathered all the required information regarding the project, the founders gathered the team members during the third and the fourth quarter of the same year.
With the team in place, Burstex 1st private funding round by angel investors completed in the fourth quarter and managed to raise $2,258,500.
Having all the necessary things in place, Burstex.io went public on January 15, 2020. According to its whitepaper, the company prides itself as the world’s first crowd owned crypto exchange built on the Burstblockchain. Essentially this indicates that the company is owned and run by shareholders.
The official token used by Burstex is called BEX and was launched on June 15, 2020. According to the company, investors willing to purchase BEX will automatically be registered as shareholders and set to receive rewards accordingly.
This is a new way of incorporating investors directly into crypto exchanges without owning the exchanges directly.
Burstex is expected to compete with existing crypto giants including Binance that largely controls global crypto exchange in regards to daily recorded volume.
The cryptocurrency exchange business is one of the profitable sectors in the digital asset industry. New startups and also established crypto exchanges like Binance are said to be making more profits than the Deutsche Bank, whereby the bank recorded pre-tax profit was 158 million euros in the second quarter of 2020.
Exchanges profit mainly from collecting trading fees, this is a small percentage taken from both the maker and taker of a trade. The average combined (maker+taker) trading fee on Burstex is 0.1177%.
The company anticipates capturing 1% of the global trading volume within the first year. With the current daily trading volume standing at around $40 billion, 1% would reciprocate to the company controlling $4 billion a day.
According to the whitepaper, the company observed that the global daily volume has been rising exponentially year over year.
“Just 3 years ago the average daily trading volume was around 0.1 billion USD. Today volume being at 40 billion (taking into account the lower range) that is a 400x increase! Meaning exchanges today earn 400 times more than they did in 2017,” Burstex explained in the whitepaper. “Will this number increase by another 400x by year 2023? We believe it will,” it added.
Anyone who owns BEX token can stake it either on the Burstex exchange or in their own Burst Coin online or offline wallets.
This is using blockchain technology to solve crypto challenges, especially with exchanges. It is a field that is yet to be fully exploited and likely to capture global crypto trading in the near future.
Altcoin News, Bitcoin News, Blockchain News, Cryptocurrency news, News
Major exchanges blocked in Egypt
Egyptian users using the ISP provider, TE data (Egyptian Telecommunication Company) are experiencing a block in the last period that does not allow them to reach the main exchanges in the crypto world such as Binance, Coinbase, Bitfinex, Kraken and Bitstamp.
In fact, an ISP (Internet Service Provider) has the ability to filter users’ outgoing connections and block certain addresses, as if it were a real blacklist, preventing users from visiting certain domains.
In these cases, the only solution that can be adopted is to use a VPN service that allows to change the IP of the country and therefore operate normally.
Of course, this system entails risks and additional costs for the end-user, since the information passes through the VPN that reads the content, which is very risky if we move to the crypto environment since both the exchange platform credentials and public and private keys can be retrieved.
The ban, however, does not seem to affect other platforms such as Poloniex, Huobi, Bittrex, Kucoin and Gemini.
Let’s not forget that in Egypt there is strong censorship for all articles and websites identified as being contrary to the government and it seems that this ban also comes from the government.
In fact, the telephone company is owned by the government and therefore it is possible that it has been influenced by this very affiliation.
Freedom of expression can certainly be very easily restricted in Egypt, as well as economic control to exert strong pressure on the population, which would be practically impossible if all citizens used only crypto as a form of exchange.
In the past, the telephone company redirected Internet traffic to portals of dubious reliability that used scripts to mine cryptocurrencies without the users’ knowledge, a clear sign of how it was exploiting its customers to gain an advantage, in this case by collecting crypto.
Finally, it should be noted that in the country any activities related to the crypto and blockchain world are banned.
All companies in the country must have a license to operate, a license issued by the Central Bank of Egypt.
Author: By Alfredo de Candia
– 18 Aug 2020
C-Trade Launches Crypto Derivatives Platform with 150x Leverage
British Virgin Islands, Aug 17, 2020 – (ACN Newswire) – C-Trade has launched a new crypto derivatives exchange platform, geared towards greater speed and efficiency for traders and offering up to 150x leverage on derivative products. C-Trade has also cut typical user withdrawal approvals time to mere minutes, inspired by personal management experience on other platforms.
“I have experienced first-hand the frustrating drawbacks of derivatives trading,” said C-Trade cofounder Edmund Lee, a seasoned professional poker player and founder of a successful crypto asset management firm. “I knew we could do better than regular system overloads and endless withdrawal times, which is why we launched our constant pursuit of advanced technology and innovation to create a superlative trading experience.”
In an effort to further enhance trading experience, the C-Trade order matching and risk management engine offers a speed that exceeds the current industry standard by 20 times. The platform also offers high liquidity and a tight spread, having been put together by a team with prior experience at J.P. Morgan and Societe Generale. For support, C-Trade users will have 24/7 access to instant support from professionals and a support team that speaks multiple languages.
Users need not worry about the security of their assets as all tokens used on C-Trade are stored in multi-signature cold wallets. It is also built to accommodate both the newer traders and experienced ones with its intuitive trading interface. C-Trade’s affiliate program offers up to 40 percent trading fee commissions. New users will receive a bonus on their first deposits, detailed guides and low entry barriers.
“Security and reliability may not sound as exciting as fast and innovative, but it makes all the difference when it comes to cryptocurrency trading,” Lee added. “Our secure, user-friendly derivatives trading platform is exactly what new and experienced users across the globe are looking for.”
Derivatives : the Leading Crypto Trend of 2020
Crypto derivatives are the future of the Cryptocurrency market and show no signs of stopping. Cryptocurrency exchanges are unable to ignore derivatives and have embraced them with full force, cashing in on what is becoming a dominant sub-market of the industry. Exchanges adapting their platforms to accommodate derivatives is not enough, however. The level of security, speed, and usability that derivatives need can only be provided by a platform that was created specifically for them, which C-Trade provides.
“Our team knows what traditional investors want, what crypto fans like and what day traders love. That’s what C-trade is all about,” said Mike Ting, cofounder of C-trade. “After a decade in the traditional equity derivatives industry, I was frustrated by the distortions in the traditional capital market caused by money printing. Since joining the cryptocurrency world, I have been impressed by the mix of technology and finance and the power of Bitcoin as a store of wealth. C-trade is the culmination of our team’s passion for innovative and differentiation.”
Copyright 2020 ACN Newswire . All rights reserved.