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How I Got $1000 In A Month on BTCC Crypto Derivatives Trading Platform

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Since its invention, bitcoin has been one of the best performing cryptocurrencies to date. And just like most crypto enthusiasts, I took a liking for it and I have been a bitcoin trader for quite a while. But most, unfortunately, the better part of my trading experience at the beginning did not have a breakthrough.

Bitcoin Price Boom in 2017 and the Unpredicted Fall!

Bitcoin market can be quite volatile especially for bitcoin spot trading, which is how I initially used to trade bitcoin. For instance, everyone remembers the end of the year 2017 when bitcoin prices soar past $19,000 per single bitcoin. And most investors – I included – thought that we had found a new investment opportunity thinking that our new found gold was going to rise further in the year 2018 and we bought some significant amount of Bitcoins waiting to sell them once the prices climb a bit higher.

But I don’t need to explain what happened in the following months! From $19,000 to almost $5,000 in less than six months was quite a frustration for bitcoin investors. I mean how did I not see that coming? How did I ignore the fact that the bubble was just about to burst?

In a way, I did not blame myself too much since almost every other cryptocurrency registered a similar drop. But that was a turning point in how I was to trade Bitcoin into the future!

Crypto Futures Contracts

It did not take me long before I learned about bitcoin futures contracts. However, I had to be careful this time around. Once bitten, twice shy!

I took my time for the better of 2019 to learn about crypto futures, how they work, and where I can trade them.

The first thing that struck my attention is the fact that Bitcoin futures trading did not require me to own the actual bitcoin. That was a great relief because if you hold bitcoin in a wallet, you don’t want their market value to drop below what you bought them at, which makes you be constantly in a trading mood even though you may not be doing it on an exchange platform. In a way, I felt that was a way of eliminating the stress involved.

Secondly, I realized that crypto futures involved market price speculations just like most of the financial trading markets like Forex and Binary Options. And that to be sounded quite interesting and easy to do.

But there is one thing that complicated things a bit and that was the issue of leverage trading. Most crypto futures exchanges offer leverage trading which means you can open contracts/trades that are larger than collateral (what you invest in the trade). This way you can open and hold very large contracts though it depends on the maximum amount of leverage that your futures exchange provides and that translates to larger profits.

BTCC

And although I learned that leverage trading was a double-edged sword since if your market speculations are wrong you end up making larger losses, I was convinced and determined to do an adequate market analysis to ensure I get most if not all the speculations right to close most of my futures contracts in profits.

Now the hard part was locating a Bitcoin futures exchange that offers the largest leverage possible. Most of the ones that I found had the leverage of up to 100x, which I felt was still too low. I needed a platform that would allow me more.

BTCC Exchange

A few months ago I found BTCC exchange, which is the world’s longest-running crypto exchange offering leveraged weekly/perpetual futures on nine major cryptocurrencies including Bitcoin, Ethereum, Litecoin, EOS, Bitcoin Cash, XRP, ADA, XLM, and DASH. And from the first impression, it seemed to tick all my requirements of a crypto futures exchange. 

To start with, it met my requirement for an exchange that offered more than 100x leverage. To my amusement, it offers 150x, which was what I would ask for.

I decided to open an account with them. To start with, the account opening process and registration process was very easy and I could access their trading platform. So I took a month or two learning how its platform works, which was not a tough thing since they have a very simple to use platform.

BTCC Derivatives

Eventually, last month I decided to deposit $200 worth of USDT with them to officially start my live trading experience. I had very great hopes in them and they did not disappoint!

BTCC Derivatives Trading

To my advantage, I also found out that BTCC also has a mobile trading app for Android and IOS users and I find it very helpful especially when I want to follow my contracts while I am outdoors.

Making $1000 in a Month Trading Bitcoin Futures

This was a dream come true.

My first Bitcoin futures contract was on BTC Daily futures contract where I placed a BUY Market Order with a lot size of 1 and leverage of 150x, which cost me 75USDT as collateral for the contract. The contract value was 11,257.66USDT at the time I was placing the order and at the expiry, the value had climbed to 11,636.74 USDT.  I ended up making 379.08USDT, which is an equivalent of $379.08. Honestly, I had not made such an amount from a single Bitcoin trade before.

I decided to rest for the rest of that week hoping to make another trade once I had good market speculations. Mid the following week, I opened another BUY Market Order with a lot size of 1 and leverage of 150x, which cost me 75USDT as collateral. The contract value was 11,716.08USDT at the time I was placing the order and at the expiry, the value had climbed to 11,839.51USDT.  I ended up making 123.43USDT, which is an equivalent of $123.43.

I was doing fine so far. But in the next trade, I made a loss of 70.45USDT. I had anticipated that Bitcoin prices were on the rise and the following week I placed another BUY Market Order with a lot size of 1 and leverage of 150x, which cost me 75USDT as collateral. The contract value was 11,619.03USDT at the time I was placing the order and at the expiry, the value had dropped to 11,548.58USDT.  

I became more proactive in doing my market analysis and last week it paid off. I placed a SELL Market Order with a lot size of 1.50 and leverage of 150x, which cost me 112.5USDT as collateral. The contract value was 17,653.425USDT at the time I was placing the order and at the expiry, the value had dropped to 16899.71USDT. I ended up making 753.71USDT which is equivalent to $753.71.

Doing the math, last month I made a cool $1185.77 trading on BTCC.com! I can recommend anyone to use this futures trading exchange. I believe it is the best.

Go for a free account on BTCC in seconds and make your first crypto leverage trading. The deposit amount is as low as 0.5 USDT. And if your first deposit is 500 USDT or above BTCC will give you a bonus of up to 2000 USDT.   

BTCC Crypto Derivatives

Note: The futures contracts on BTCC are USDT-margined, and that means you need to have USDT to do the trading.

Tip: If you like to trade on the go, you can download BTCC Mobile APP which will give you a better trading experience than the web.  

Mobile App BTCC

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Conflux Launches Conflux Africa Leadership Scheme (CAL)

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Conflux Africa Leadership Scheme

Conflux is a state-of-the-art public blockchain system that can achieve high Transactions per Second (TPS) without compromising decentralization. This system originated from the research lab of Dr. Andrew Yao; a recipient of the Turing Award 2000.

The Conflux system adopts the Tree-Graph consensus mechanism to break the limitation of the current blockchain system by achieving over 3500 TPS in contrast to the existing 30 TPS rate limit. With the Tree-Graph approach, security, scalability, and decentralization are fully optimized.

ConfluxIn 2018, the Conflux Foundation was formed based on the breakthrough of this consensus mechanism, and a regulatory compliant fundraise was completed to build an open infrastructure. It is the only state-endorsed public, permissionless blockchain in China.

Through the Tree-Graph Research Institute, Conflux is advancing education and research in blockchain development. It does this in partnership with the government of Shanghai and the Key Laboratory of Blockchain Infrastructure & Applications, with the government of Hunan.

Conflux aims at bridging Asian and Western communities and economies, to enable the secure flow of assets and data across borders, protocols & applications. The Conflux protocol is fast, scalable, solidity compatible with zero congestions and low fees.

With its headquarters in Beijing China, Conflux has expanded its global operations with a diverse distributed team across four continents, with additional offices in Toronto, Canada, and Lagos, Nigeria.

In 2019, Conflux Network set base in Africa and has since been able to secure some reputable partnerships, building a community of over 5000 people in Nigeria and a few other African countries.

Taking a step further, Conflux Network is looking at getting African leaders in Kenya, Ghana, and South Africa. In achieving this goal, Conflux Africa is interested in people with little knowledge in the following areas: Brand Ambassadors, Developers, Crypto traders, experienced meetup organizers, and community builders.

Conflux Africa Leaders (CAL) would be entrusted with the responsibilities of engaging, educating, and empowering people. Conflux will also bear the cost incurred by each CAL while performing their tasks.

Conflux Africa Leaders will be rewarded for their work based on performance. In addition, a clear job description and key performance indicators will be set for all CAL’s. They will be rewarded with the Conflux native token which is currently trading on top exchanges like Binance, OKEx, CITEX, BitAsset, BKEX, MXC, and Gate.io.

Conflux is open to teaching young developers who intend to learn how to develop blockchain solutions in the upcoming summer User-Managed Access (UMA) initiative.

Click here to become a Conflux Africa Lead today.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Bitzlato & Lemonade Finance: The Easiest Way to Buy Bitcoin in Nigeria

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Buy Bitcoin With Ease and Without Fees Using Bitzlato & Lemonade Finance

Bitzlato, the latest P2P Crypto Exchange to enter the African market, has added Lemonade.Finance, a borderless platform for Africa, as a payment method to its platform.

BitzlatoLemonade Finance provides a 100% digital payment experience for Africans to participate in the global economy from anywhere in the world without any hassle or regardless of where they are from.

The partnership will enable users on the Bitzlato (BZ) platform to buy and sell bitcoin and other cryptocurrencies on the marketplace at zero cost.

During the first month, Bitzlato will refund commissions in manual mode while using Lemonade Finance, but this will be automated at the end of this period. 

But that’s not all! Users in Nigeria will now also be able to send Nigerian Naira (NGN) to MPESA at a 0% transaction fee.

International Money Transfers at Zero Costs

In addition to using Lemonade Finance on Bitzlato, the new partnership allows Nigerians to send fiat funds to Kenya, Ghana, and other countries with 0% transaction fees!

And Yes! This includes direct transactions from Lemonade to Mpesa!

You can find a «Lemonade to Mpesa» payment method in Electronic Payment for trades with Kenyan shilling (KES)! 

 

Speaking about the new partnership, Ridwan Olarere, CEO, Lemonade Finance, said:

“We are excited to partner with such an innovative company like Bitzlato to connect more Africans through payment. Many Africans living on the continent face many difficulties when making payments as remittance companies charge high fees and are time-consuming. We are now providing our users with a cost-effective way of sending money to Ghana, Kenya, the UK, and Europe.”

Commenting on the opportunities this provides to crypto traders on the BZ platform, Mike Lunov, CEO, BZ, said:

“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross-border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrency trading. The innovation exhibited by the Lemonade platform, and the brilliance of its team assures users of top-notch, secure, and reliable transfers going forward.”

Following this partnership, Bitzlato is now looking to partner with merchants in the crypto space, especially in Nigeria, Ghana, South Africa that have a steady flow of Nigerian Naira (NGN) to increase liquidity on the platform.

Take advantage of the new Lemonade Finance payment method on Bitzlato, which offers zero transactional fees for money transfers from Nigeria into Kenya, sign up to Bitzlato and start trading crypto today.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Mark Carnegie’s Crypto Fund Eyes Massive Returns

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Mark Carnegie, the world-renowned Venture Capital Investor and entrepreneur hailing from Australia, plans to launch an unlisted cryptocurrency fund. Mr. Carnegie’s MHC Fund will use a bold combination of complex DeFi (Decentralised Finance) and Crypto-Trading strategies to generate a 30 per cent annual return for investors.

Mark CarnegieFrom his holiday home in Madagascar, Mr. Carnegie, expressing his views with his characteristic wit and energy, repeated prior ideas that investors should allocate 1 to 2 per cent of their net worth to crypto as a hedge against inflation risks:

“The money printing is a risk and you’ve got to think what you’re going to do to protect yourself against it. Now, with Australia the general solution is buy a house. The problem about that is you forgo a tonne of liquidity if that’s your only solution,” he said.  

Mr. Carnegie, who regrets not recognizing the potential of DeFi and crypto earlier in his career, has joined forces with Russian-born Sergei Sergienko – a star in crypto, blockchain, and fintech circles – to launch the MHC Digital Asset Fund, which is designed for sophisticated investors, with a minimum investment floor of 50,000$.

The MHC Fund will invest 45 to 75 percent of its assets in cryptocurrencies with a market cap of at least 1 billion USD (1.3 Billion AUD), such as Bitcoin and Ether. In addition, the fund will invest 30 to 60 percent of its assets into stablecoin denominated DeFi strategies.

Mr. Carnegie is energetically moving forward with a prototype fund involving a few private investors who, along with Mr. Sergienko, have put some money down to successfully launch and trade it.

Sergey Sergienko“Sergei’s got a whole lot of what I call proprietary alpha in that he knows a lot more people that are real in this community,” Mr. Carnegie said. “He’s proven and therefore access to his proprietary deal flow allows you, for not a huge amount of capital exposed, to get a disproportionate upside in some of those things. 

“So we think we can put together a portfolio. It’s not going to get all the upside of the crypto market, but it’s going to take some sting out of the downside.” 

One characteristic DeFi strategy the fund will take advantage of is known as “Staking”. Staking allows market participants to make assets available on a specific blockchain network in exchange for a yield.

“We also think we’re going to be able to make intelligent asymmetric bets in the options market,” said Mr. Carnegie. “We aren’t a typical investor in this space in that we’re prepared to trade away some of the upside [to target the 30 per cent return].”

Crypto-savvy Sergey Sergienko has made quite a name for himself in Russia as a millionaire crypto trader and audacious user of the Clubhouse application. During the last decade, he has spent a fair amount of time travelling between bitcoin mining sites in abandoned Siberian factories – taking advantage of abundant and cheap electricity – and his home in Paddington, Sydney.

“We use automatic market makers and the discrepancies in returns in stable coins to produce a greater return for the fund,” Mr. Sergienko said. 

“Effectively, we’re providing liquidity to automatic market makers on DeFi market protocols and receive commission from the trades executed on those protocols. We do it on different blockchains, thereby also taking advantage of different pricing for commission on different blockchains.” 

The MHC fund is designed to capture the upside from the rise in Bitcoin. However, Mr. Carnegie believes the leading cryptocurrency is less sophisticated compared to the ethereum blockchain’s world-changing potential to contribute to the vision of a more libertarian world enlightened by decentralised finance.

“It’s hard, hard, hard to understand it [DeFi] and turn it into a language for people from the outside,” he said. “The reason I’m doing this rather than HODL, which is buy bitcoin and hold on for dear life, is it’s just for me a weak part of your investment thesis, the strongest is proper DeFi and proper smart contracts.” 

Ethereum, dubbed the World Computer, is an open-source blockchain platform. Value is transferred across this platform thanks to a cryptocurrency called Ether.

Ether is also used to pay for transactions on the network. Ethereum powered smart contracts allow, among other things, the use of digital escrow accounts to ensure tradies receive payment when a job is completed.

“I thought ether was going to outperform bitcoin and everything else. So the bitcoin people have done better than me,” Mr. Carnegie said. “But I thought it was better to try and put together a more complicated portfolio with Sergei because this thing is so dynamic. All the success in DeFi is going to pull bitcoin higher with it.”

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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