What are AIRDROPS and How to get them

AIRDROPS is a distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses. Airdrops are primarily implemented as a way of gaining attention and new followers, resulting in a larger user-base and a wider disbursement of coins.

They are free coins or tokens that are dropped directly to your wallet or you claim. They are mostly associated with new and developing coins and tokens. They are always limited and available for a period of time.

Airdrops are not special coins or tokens, they are normal coins or token that are given to people for free as a reward for doing a task for a period of time for some specific reasons.

Recently, Binance gave out 100 TWT (trust wallet token) to everyone who claimed it by just few steps or tasks.

Examples of recent airdrops are:

v   TWT

v   1 Inch

v   Morpher

v   Uniswap

v   Serum permission

v   OnX finance

History Of Airdrops

Auroracoin(cryptocurrency for Iceland) is the first recognized airdrop distributed to Iceland citizens in March 2014.. 

The distribution, which is the very first airdrop sends 50% of the total Auroracoins to the country’s citizens, to the Icelandic residents that entered their permanent resident ID received 31.8 AUR. On March 25th the Icelandic citizens received their tokens.

Reasons for Airdrops

Airdrops are been conducted or given for several reasons which may include:

v         Generating Awareness: I believe this is the first and foremost reason for releasing airdrops, mainly for awareness. You will notice that most airdrops don’t come from already established and well known coins like BTC, ETH, XRP, they come from new and struggling coins which needs recognition.

v         Understanding the users: Some airdrops are also released by its developers to get user experience reports and also to understand if the coin/token is good enough.

v          For Rewarding Loyalty:  Some airdrops are used for compensation of its user.

v          Wider Distribution of Tokens

How to Access Airdrops

Well, accessing airdrops has no regular techniques, because the release airdrops are not predictable and also each airdrop may have a specific way or channel of distribution. But to get airdrops or to be alert and ready for airdrops you need:

v         Cryptocurrency Wallet: You need to have a wallet you will store your airdrop, not a wallet like that of binance and coinbase, but a pure wallet like trust wallet, coinbase wallet e.t.c.

v          Follow top exchanges: Then, to actually, get the airdrops, you need information about it and also to get information you need to follow top exchanges like Binance, coinbase, luno e.t.c on social media (most especially twitter) and turn on notification from them, because they then to drop information about airdrops mostly on social media.

Now, please not, airdrops are not a regular thing. It is not a style of trading and it is not an advisable thing, because it is not predictable. But, it is just an add-on and bonus.

Planning Your Cryptocurrency Trade

“If you don’t know where you are going, you’ll end up someplace else.” ― Yogi Berra, former New York Yankees catcher

Planning is thinking in advance about what is to be done when it is to be done, and how it is to be done. In otherwords, planning bridges the gap between where you are today and where you want to reach.

Planning involves setting objectives and deciding in advance the appropriate course of action to achieve these objectives.

The importance of planning in any business or trade or endeavor cannot be over-emphasized, it is very important and essential to plan ahead.

The cryptocurrency trading space is a very volatile and highly fluctuating space in which without planning, you will just always end up losing and leaving the flourishing market frustrated and biased. You need to plan when to buy, when to sell, which percentage loss you can risk, which percentage gain is your target, all these if not noted will make your trade looks like a child’s play.

Why Plan Your Trade

Here are the reasons Why You Should Plan Your Cryptocurrency Trade:

1. Planning provides Direction: Like I said earlier, The Cryptocurrency trading space is a very volatile and highly fluctuating space. You need to have a direction. For example; If you buy an Altcoin, you have to plan ahead (with reference to the price you bought the coin), when to sell, which percentage profit you want on the coin and which percentage loss you can take on the coin. For instance; if you buy AAVE at $86, with reference to purchase price, you will have to plan which percentage profit you want; maybe 5%, that is you want to sell it at 5% of $86 + $86 which is equal to $90.3. So with a plan you have been able to make your profit.

2. Planning reduces wasteful activities: Most especially for day traders, planning makes you have focus and not just waste your time unnecessarily in the market. When you have a plan, you execute the plan and exit the trade. ASAP!

3. Focus: With proper planning, you will have focus and be able to prevent and shy-away from any unnecessary market fluctuations from affecting your profits. Even if the market is not going your way, planning makes you have a focus that will keep you positively in the market.

4. Planning controls Anxiety and Covetousness: With planning, you will be able to prevent falling into any trap or anxiety caused by the natural volatility of the market.

How do I Plan my trade?

Planning a trade differs from each other. But there are some general practices which are:

1. Note your capital

2. Have a percentage profit

3. Trade, Hit your percentage profit and exit the trade (if you wish).

Get planning, and make sure you plan every trade. ASAP!

How to Develop A Trading Strategy

 A trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, consistency, and objectivity.

Trading Strategies are specific and general techniques you use in your trading. The cryptocurrency trading space is too large not to go there without a trading technique or strategy.

A Trading Strategy is a specific plan to achieve one or more trading goals under conditions of uncertainty caused by the volatility of the cryptocurrency space.

As we all know that the crypto trading space is very volatile and without a properly researched trading strategy, you will always be at loss and be caught in the whirlwind of the market.

How do I develop and trading strategy?

Trading strategies most times are birth from the knowledge acquired during your learning and development phase. Developing a trading strategy maybe a long or a short process depending on you, your experience and your desires. This is a phase for beginners. Here are 2 Major factors needed in developing a trading strategy

1.       Trading Knowledge:  Jumping into something or trade without a comprehensive or good knowledge is a foul play and a death trap. You need to have a full or comprehensive understanding of what you are doing and how to do it, same applies here, you need to understand how cryptocurrency works, risks associated, where to buy and sell, when to buy and sell, what to buy and sell and how to carry out your trading analysis. This knowledge will help you develop a trading strategy.

2.      Your Goals: What are your ambitions? Why did you come to the market? Are you in the market for a long and short trade? Answers to these questions will assist you in developing a trading strategy, any trades have an approach and knowledge of these questions will help you develop a trading strategy.

Like I said earlier, developing a trading strategy is key and very essential, but it is a process, you have to be steady and constant in the market to have a trading strategy, avoid copying the strategies of others because it may not go your way, I believe everyone is unique in this own way, so keep on trading, find your uniqueness, develop a strategy that suits you and then be consistent in it. See you at the Top!

Volatility In Cryptocurrency Trading

Volatility is a statistical measure of the dispersion of returns for a given security or 

market index. In most cases, the higher the volatility, the riskier the security. 

Volatility is often measured as either the standard deviation or variance between returns from that same security or market index.

In finance, volatility is the degree of variation of a trading price series over time, usually 

measured by the standard deviation of logarithmic returns. Historic volatility measures a 

time-series of past market prices.

Volatility is simply the degree or manner in which a Cryptocurrency rise and falls in 

respect to time. It is the fluctuation in the market value of cryptocurrencies with respect 

to time.

What causes Volatility?

Volatility in the value of Cryptocurrency is caused by mainly the buying power of 

the market. A coin or token in a high buying state tends to increase in value and a coin or 

token with a low buying state tends to decrease in value to attract more buyers.

How to Trade Binance Leverage Tokens (BVLTs) and make profits

Binance Leverage Tokens (BVLTs) are a special type of tokens or cryptocurrencies that allows you to profit from the fluctuations in the price of an underlying asset in the Binance Future Market. This simply means BVLTs enable you make profits by predicting or trading the rise and fall of cryptocurrencies without directly trading the Cryptocurrency.

BVLTs always exist in Ups and DOWNs, meaning you can trade cryptos moving up and going down. Examples of BVLTs are BTCUP-BITDOWN, DOTUP-DOTDOWN, AAVEUP-AAVEDOWN, UNIUP-UNIDOWN e.t.c.

How do I make profits?

Its profits are not variable, it is fixed allows between 1.5x to 3x leverage on your capital, also you don’t need to panic because it is not affected by liquidity in the market.

Profits from BLVTs are called Net Asset Value (NAV).

How to Trade BVLTs

Since these tokens exist in UPs and DOWNs, For example, if Mark invest $100 in BTCUP( that is; he is predicting BTC will go up) and BTC eventually goes up by 5%, he will get a leverage of 5% multiplied by 3x(the fixed trading leverage on capital) which is equal to 15%, which is also equal to $15, that is Mark will be left with a $100(capital) + $15 which is equal to $115.

If He then invests $100 in BTCDOWN ( that is; he is predicting BTC will go down) and BTC eventually goes down by 5%, he will get a leverage of 5% multiplied by 3x(the fixed trading leverage on capital) which is equal to 15%, which is also equal to $15, that is Mark will be left with a $100(capital) + $15 which is equal to $115.

Risks/Loss Involved

The risk involved is that if after investing in BITUP at getting $115 in return, he predicts BTC will go down, and unfortunately, BTC goes up by 5%, he will lose 5% multiplied by 3x(the fixed trading leverage on capital) which is equal to 15%, which is also equal to $15, that is Mark will be left with $115 - $15 loss which is equal to $97.75.

How to Exit Trade

To exit a trade after making your profit, you just need to click on redeem in your trade area and the token will automatically be changed to your FIAT coin.

Conditions

i.          i.   You need to know the actual value of Cryptocurrency involved in the future                      market.

ii.         ii.  You need to analyze the crypto involved to know if it will go up or down.

As we all know, all trades are risky, but to get loss to the nearest minimum you need to do this trading according to what your technical or fundamental analysis instinct is dictating.

How to Avoid Emotional Cryptocurrency Trading

Are you always at loss in your trade due to your emotional attachment to trade or due to the fear of losing?

Emotional trading is not always completely avoidable but can be reduced to the nearest minimum.

Emotional trading is caused due to unnecessary trading fears or doubts. It mostly occurs when you are unnecessarily scared of losing trade or losing money.

This leads you to place the wrong buy or sell trade which will eventually lead you to loss.

This situation is mainly avoided by having  Trading Strategies. Trading Strategies are proven, specific and general techniques or strategies you use in your trading that wins. These strategies are developed by your experience in the trade, and your ability to know what is right to do and what works for you. These strategies are mostly aided by your Technical and Fundamental Analysis Ability.

So, You need to develop a sound and good analytic skills and strategy that works so when there is a rise or dumb in the market you will know and be sure of how and what to trade.

Like I said earlier, Emotional trading may not be killed permanently but can be reduced to the nearest minimum. See you at the Top.

3 Things Needed to Trade Cryptocurrency

 “Cryptocurrency is a digitally created currency based on advanced mathematical algorithms that use cryptography for security and anti-counterfeiting measures.”

 Cryptocurrency cannot be physically seen or traded physically like the FIATs but digitally or electronically, It is a decentralized system which means it is not controlled by anyone. There are thousands of cryptocurrencies, but the most popular, valuable and first of all is Bitcoin(BTC) followed by Ethereum(ETH) and Ripple(XRP).

To acquire or own cryptocurrencies you need to convert your FIATSs to cryptocurrencies.
As a beginner we can’t just up into trading cryptocurrencies, 3 Things are Needed to Trade Cryptocurrency which are:

1.      Trading Skills: Jumping into something or trade without a comprehensive or good knowledge is a foul play and a death trap. You need to have a full or comprehensive understanding of what you are doing and how to do it, same applies here, you need to understand how cryptocurrency works, risks associated, where to buy and sell, when to buy and sell, what to buy and sell and how to carry out your trading analysis. In developing these trading skills most times you will need a mentor, someone you can learn directly from online or offline, or you can watch tutorials online (but this method of knowledge acquisition is not advisable, because you tend to meet different people with different strategies which may leave you confused and stressed). It is advisable to find a mentor, pay for his/her services and be ready and well-prepared to learn, because honestly, crypto trading is not easy to trade until you have the good and necessary skills. For Recommendation: I recommend you learn from Chris Ani and take his “Trade and Make Money Course”.

2.   Wallet & Exchange: Wallet is a place you keep/store your Cryptocurrency. It may be a

• Cold wallet (paper or ledger): This wallet is an offline wallet that doesn’t really need the internet to operate. And it is the safest, but it is very complicated. It can’t be hacked and it is not advisable for beginners because of its complexity.

• Hot Wallets (Mobile, Web, or Desktop): This wallet is an online-based wallet that you can access on your phone, as a website, or as software on your desktop through the internet. It is not as safe as the cold wallet, but very simple to operated, and it is advisable for beginners to use. Examples are binance, coinbase, yellowcard, blockchain, luno e.t.c.

Exchange is a platform where trading(buying and selling occur). Most time it is easy and advisable to buy and sell cryptocurrency on the same platform because most wallets have an exchange section, or you can transfer crypto from your wallets to the exchange platform.

 

3.       Trading Strategy: These are specific and general techniques you use in your trading. The crypto space is too large to go there without a trading technique or strategy. These strategies are birth from the knowledge acquired during your learning phase.

Now you are set to trade and make profit, but remember, just like every other successful business, it may take you a while to start making a profit or to get a fitting trading strategy, but with persistence, guidance from your Mentor, and determination, you will get there. See you at the Top.