The Bithamoon crypto derivatives exchange has launched a campaign with the payment of prizes for deposits and trading volumes. The platform reported this on the ForkLog HUB.
The promotion will end on March 31, 2021 at 15: 00 (Moscow time). To participate, you need to fill out a Google form. The first 1010 participants will receive cash prizes and vouchers for payment of trading commissions.
The amount of the voucher depends on the size of the user’s deposit:
from $250 ― voucher for $25;
from $500 ― a voucher for $50;
from $1000 ― a voucher for $100;
from $1500-a voucher for $150;
from $5000 ― a voucher for $500;
from $10,000 ― a voucher for $1,000.
The size of the prize depends on the user’s trading volume for the last 30 days:
from $250,000 ― $50;
from $500,000 ― $100;
from $1,000,000 ― $250;
from $2,500,000 ― $500;
from $5,000,000 ― $1,000;
from $10,000,000 ―$2000;
from $25,000,000 ― $5,000.
Only verified accounts (KYC 2) with a trading commission level of 1-4 participate in the campaign. The organizers do not take into account pairs with low volatility like USD/USDT when calculating the trading volumes of users.
The exchange will award prizes within seven calendar days after the end of the campaign. Participants can receive one prize in each category. The promotion does not apply to institutional investors.
Bithamoon is a crypto-derivative exchange with support for spot, futures and OTC trading. On the platform, you can trade options on BTC, tokens with leverage and MOVE contracts.
Recall that last month, Bithamoon reported an increase in trading volume in 2020 by more than 1000% and an increase in the number of daily users by 786%.
Bitcoin backlash: Iran cracks down on crypto exchanges
Tehran, Iran – Iranian officials are cracking down on the use of cryptocurrencies in the country again, with crypto exchanges becoming the latest target of official efforts to control the burgeoning industry.
The current hawkish stance comes in the wake of bitcoin’s meteoric price rise since mid-December, feeding a growing appetite in Iran for crypto assets after the country’s stock bubble burst last summer.
Enthusiasts see bitcoin as a hedge against devaluations of Iran’s currency, the rial, and as a way to circumnavigate United States sanctions that have crippled Iran’s economy because bitcoin is not controlled by any government.
That decentralisation has seen regulators all over the world wrestle with how to control bitcoin and other digital currencies that by design are meant to be beyond their reach.
Iran is no exception. But supporters of crypto warn that government pressure could backfire by leading to less transparency and making Iran less competitive in the rapidly innovating industry.
Last month, Mojtaba Tavangar, the head of the Digital Economy Commission of Iran’s hardline parliament, wrote a letter to President Hassan Rouhani, his ministers and the Central Bank of Iran calling for a complete halt to the use of the rial to buy and sell bitcoin and other cryptocurrencies on crypto exchanges.
Tavangar warned that trading cryptocurrencies could foster large-scale financial scams and fraud – several of which involving traditional assets have dogged the country over the past decade.
His letter followed in the wake of an announcement in February by Iran’s Central Bank Governor Abdolnaser Hemmati that a select number of crypto exchanges would soon be designated strictly to facilitate sale transactions for miners whose coins will be spent to import goods into the country.
Days later, Shaparak, Iran’s payment settlement network under the Central Bank, tightened the noose further, telling local payment facilitating companies to stop offering services that allow “illegal” conduct, including “selling cryptocurrencies, selling VPNs [virtual private networks], and betting and gambling websites”.
The order, which targeted mostly private online crypto exchanges, comes as a vague blanket ban on the use of cryptocurrencies issued three years ago still remains in effect.
Over the past three years, Iran has intermittently taken steps to exercise greater control over the countries crypto sector, with directives that sometimes reveal officials struggling to understand the nature of what they are targeting.
In April 2018, the Central Bank communicated a directive issued by the High Council of Anti-Money Laundering that said: “using the tool of Bit Coin and other virtual currencies is forbidden in all the country’s monetary and financial centres”, misspelling the name of the world’s most popular cryptocurrency.
An August 2019 directive saw the government place responsibility for cryptocurrency risks firmly on exchanges and their customers.
As recently as this year, bitcoin mining, the energy-intensive practice of using powerful computers to verify transactions in exchange for bitcoin, was blamed by officials for fuelling high levels of air pollution.
Each time authorities try to control or disparage the crypto industry, private-sector actors warn of the potential downsides.
This time is no exception.
Amir Hossein Mardani, CEO of BitPin, an Iranian online crypto exchange, told Al Jazeera that the recent orders by the Central Bank and the country’s payment settlement network could hamper competition.
“Firstly, it was an attempt by a number of monopoly seekers in the market to direct the regulators to monopolise the market. Secondly, it was aimed at directing the media to strip Iran’s active exchanges of public trust,” he said.
Mardani added that while BitPin saw a drop in the number of new customers after Shaparak directed firms to stop facilitating cryptocurrency transactions, he is confident business will recover in a few months’ time.
“Our users’ behaviour shows us that there is strong demand for bitcoin and other cryptocurrencies and users will ultimately conduct their transactions, so this hype is temporary,” he said.
Mardani further cautions that attempts to restrict Iran’s crypto trade could backfire by driving some activity underground, decreasing transparency, and increasing capital flight as customers move their business to exchanges abroad.
“The nature of the crypto market and the technology behind it is to create financial decentralisation,” he said. “I think governments, including Iran’s government, must accept that traditional controls don’t work on these markets.”
Ali Amiri, chief financial and operational officer at ZarinPal, shares those concerns.
“Forcing activities underground, making the brilliant minds in this field move out of the country, and driving capital from local markets to international ones are some of the short- and medium-term consequences of this decision,” he told Al Jazeera, adding that it also risks undermining Iran’s future competitiveness in burgeoning blockchain and crypto technologies.
The latest crackdown on crypto also follows in the wake of severe stock market losses in Iran.
Encouraged by government officials, millions of Iranians poured money into the stock market last year, only to suffer huge losses when the equity bubble burst in August 2020.
Bitcoin, by contrast, has soared in value since August and is currently trading around $57,000, prompting many Iranians to seek their fortunes by trading in it.
Local media, meanwhile, are feasting on narratives of competition for investor capital between Iran’s stock and crypto markets.
Last week, Mohammad Ali Dehghan Dehnavi, who was recently appointed as the head of Iran’s Securities and Exchange Organization after his predecessor resigned, explicitly told Iranians to stay away from cryptocurrencies.
“Instead of investing in places that benefit other countries, the people should invest in the capital market so it would lead to the country’s economic growth,” he said.
Bahman Habibi, chief executive of Iranian crypto exchange Bittestan, disputes the narrative, likening a crypto investment to gold.
“The same rings true about the nature of cryptocurrencies because by buying and stacking cryptocurrency reserves in the country, we would actually be creating reserves that have a much higher added value than US dollars, euros, or even gold,” he told Al Jazeera.
How to Choose the Right Crypto Exchange for You
First thing’s first, you need to know what a cryptocurrency exchange is. It’s similar to a digital currency exchange and it’s a business that helps you trade cryptocurrencies and digital currencies for other assets. You can buy and sell assets by using wire transfers, credit cards, as well as other forms of payment.
Once you know that it’s time to get down to business. There are many ways to choose the crypto exchange that’s right for you. You’ll come across lots of exchanges online. What you’ll need to do is a lot of research and in that regard, here are some things to look out for:
Safety is the primary thing to look for in any exchange. It’s also the primary concern when it comes to trading with any kind of cryptocurrency. Some customers were relieved of their assets which is why new customers are skeptical about entering the market.
That’s why you should look for regulated exchanges. There are various authorities and regulated bodies that are in charge of this and when you see their names on an exchange then you’ll know your assets are safe.
As you know there are different kinds of exchanges available online. This means that all of them will come with various trading options. For example, some crypto exchanges will allow you to buy cryptocurrencies directly via e-wallets, credit and debit cards, bank transfers, and more.
You can opt for the best UK crypto exchange once you see what it has to offer. Besides this, you’ll need to know if you can trade in an exchange. Most exchanges offer short-term trading which will grant you short and regulated profits with minimal risk of loss.
Finally, there are some exchanges that will let you trade cryptocurrencies. This means that you can swap one crypto for another. Then you can withdraw your new assets to a private wallet. Besides the options, there are other things that you need to check out.
Fees are an important part of any exchange. Some offer higher while others offer lower fees. Usually, you pay these whenever you deposit some money into your account. If you do some research you’ll come across exchanges that offer a low deposit fee. Trade commissions are other things that you need to be aware of. That’s because just like the fees they will vary from exchange to exchange.
A trade commission is a percentage that’s charged against your trading transactions. Some exchanges will come with a commission of 0.1% while others will have a commission of 1.49%. Alternatively, you’ll find exchanges that offer you no commission at all.
Finally, you have the spreads. The spread is the difference between the buying and selling price of a currency. This is another important factor to look out for.
You probably have a preferred payment method just like anyone else. So, you’ll need to go for the cryptocurrency exchange that offers your favorite method. The thing is that they cover a bunch of methods so make sure that your method is supported.
Customer service is another thing to look out for. If an exchange has good customer service then you should stick to that one. Naturally, there are lots of other things to be aware of when trading such as the most common pitfalls, asset prices, and more.
Author: Ella –
Crypto Derivatives Exchange Bit.com Integrates With Copper ClearLoop For Off-exchange Settlement
Bit.com, a cryptocurrency derivatives exchange launched by Matrixport, today announced the completion of its integration with Copper ClearLoop, a platform provided by London-based digital asset custodian Copper.co, which facilitates instant, off-exchange cryptocurrency settlements.
This integration will allow institutional clients to keep their assets secure under Copper’s segregated custodian account, while trading on Bit.com and settling trades in their ClearLoop account. This solution could be extremely helpful for institutional traders because it ensures accessibility, convenience and bypasses security concerns typically linked to trading on cryptocurrency exchanges – including exchanges being hacked, or assets being frozen.
To date, institutional users trading crypto assets have had to move their assets from their secure cold wallets into the exchange’s hot wallets, a process that can often take between ten minutes to one hour. These delays are exacerbated when considering withdrawals and post-trade. ClearLoop eliminates this by enabling off-exchange settlement which takes less than one second.
ClearLoop ensures that both the client and the exchange have enough assets allocated to cover any position submitted by a trader before it is opened. Copper then settles trades instantly between parties after the trade has taken place. It also enables traders to have full control over their response to market motion and price action.
CryptoNinjas.net » Crypto derivatives exchange Bit.com integrates with Copper ClearLoop for off-exchange settlement
Title: Crypto derivatives exchange Bit.com integrates with Copper ClearLoop for off-exchange settlement
Sourced From: www.cryptoninjas.net/2021/01/26/crypto-derivatives-exchange-bit-com-integrates-with-copper-clearloop-for-off-exchange-settlement/
Published Date: Wed, 27 Jan 2021 10:43:58 +0000
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