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Ultimate Preparation Guide On How To Trade Digital Currencies: 4 Verified Must-Do Steps

George Miller

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Ultimate Preparation Guide On How To Trade Digital Currencies: 4 Verified Must-Do Steps
Reading Time: 2 minutes

 

Trading digital currencies are the new talk of the town, and it is quickly ruling the world of virtual investments. But with “cryptocurrency” itself a relatively new concept, here are must-do steps you are to take for a higher chance of trading-success. 

4 Tips Before You Start Trading Cryptocurrency

  1. Profit Targets And Stop Losses 

The world is witness to how cryptocurrency is leaping off of books, and up towards true financial gain. Although digital currencies are essentially unaffected by economic movement, the most recent global catastrophe (yes, COVID-19) has shown everyone that non-fiat currency is what can move forward almost without fail. 

So, the first thing you should do in your digital currency trading journey is to map out what your profit targets are. You can set your own personal “minimum” in which to price your digi-coins. In other words, set a price on said coins. 

At the same time, affix your stop losses as well. Stop losses are a determined minimum profit. The moment you hit this amount, you stop trading. Even if it seems as though the demand is high and traders are willing to bid higher, don’t. 

Create this “trading” habit. Remember that there is no “trend” in cryptocurrency. What might seem like a profit boom can easily slump back down in a second. Always hang on to your profit targets and stop losses. 

 

  1. Understand Volatility And Underlying Assets

The fact is that digital currencies are volatile. This is no secret, and this is, in fact, a variable which pro traders fully understand. 

It is a risk crypto-investors take. Then again, what investment doesn’t involve risk? Trading with fiat-currency-backed assets has its own volatilities, too. Only, it is a bit different, when speaking of digi-coins. As mentioned earlier, its market is near-impossible to predict. 

Because of this, having close targets is the safest bet to take. Either that or tell yourself not trade at all. At least, not at the moment. 

 

  1. Low Price Doesn’t Mean Green Light 

Go back to step number 1. Let your profit targets and stop losses be your anchor especially when your preferred digital coins suddenly plunge to low prices. Sudden low prices shouldn’t move you to just-as-suddenly invest all you have in them. 

Try observing this formula: Current Market Price x Total Number of Outstanding Shares. It isn’t merely about the price of a coin. And it is a rookie mistake you shouldn’t have to go through, now that you are being wise about your investing. 

Instead, look at the market cap. The higher it is, the more ideal it will be for you to invest. 

 

  1. Sell Order Placement 

This is a tip many are either unaware of or ignore. Sell order placement. Markdown a realistic sell order amount and keep it unmoving at that. Let this be your revenue target. For the time being, let it stay steady. You might just be surprised that a few buyers may want to meet your set price. 

Even better, sell orders are coupled with economical transaction fees as they are deemed as “markers”. 

 

Cryptocurrency

Sportsbet.io teams up with SportCaller for landmark FTP-crypto partnership

George Miller

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Sportsbet.io teams up with SportCaller for landmark FTP-crypto partnership
Reading Time: 3 minutes

 

Free-to-play specialist secures first cryptocurrency partnership with leading multi-currency sportsbook

SportCaller, the leading free-to-play (FTP) game provider, has announced its first cryptocurrency partnership with leading operator Sportsbet.io, the sports-betting subsidiary of Coingaming Group.

The new deal forms part of a deeper FTP framework with which to target both mature and emerging markets over the long-term, as Sportsbet.io bids to expand its progressive footprint into untapped territories. There, its multi-currency versatility, allied to SportCallers proven international scope and flair for localization, promises to drive diversified fan engagement around targeted free-to-play sports games.

Accordingly, the announcement also sees the launch of two exclusive games, 4-3-free and Bet free 6-6, built to reignite familiar FTP formats with innovative jackpots mechanics and new designs around mainstream sports from football and cricket. The first, 4-3-free, asks its players to win a realistic jackpot, or a range of attainable tier-two prizes, by answering a series of questions correctly. On the other hand, Bet free 6-6 adds a new twist to the popular Super 6 FTP format by posing a set of six predictions (e.g. correct score, or under/over goals) whereby players still earn points for consolation prizes, even if they only guess the match result correctly.

These exciting products hail from asports-agnostic series which allows Sportsbet.io to flexibly press engaging games into the service of any event, as elite sport battles with an uncertain timetable worldwide, delivering an agile light-touch marketing approach that provides education and entertainment for customers in both new and existing markets.

As the leading free-to-play supplier, SportCaller is dedicated to driving engagement through a range of games whose formats responsibly acquire and retain customers at low cost but also remain fully compliant as sports-betting regulation continues to coalesce across regions from LatAm to the Subcontinent. Its unique proprietary platform not only lets Sportsbet.io delineate its brand from its rivals via bespoke local games, but also offers a strategic solution which works territory-by-territory, educating uninitiated audiences with fully-integrated games that organically track underlying sportsbook markets, demystifying any technicalities or terminology in the process.

To underscore the point, SportCaller has now launched over 100 games across 47 countries and in 20 languages in Europe, Asia, Africa, Latin America, Australasia and North America (via multi-lingual). In the past 12 months, it has also rolled out 44 new games, doubling the total number of games offered across the previous three years.

Joe McCallum, Director of Sportsbook at Sportsbet.io, said: SportCaller’s highly-focused, and collaborative approach to game-ideation, together with their consumer analysis from a host of worldwide data sets, gives them a competitive edge when it goes to both game-delivery and strategic planning. Whether its acquisition or retention-focused games, we now feel confident of keeping our players engaged with the Sportsbet.io brand in a fun, fast and fair way – enhancing the existing experience, and minimising churn, wherever we set our scene.

Their new games embrace player-education and enhanced activity at their heart, and are already demonstrating their huge worth at a time when responsible engagement and retention rightly demand adaptable solutions. We look forward to extending this progressive partnership with more games across our other premium properties over the coming years.”

Cillian Barry, MD at SportCaller, added: Coingaming and Sportsbet.io are led by some of the great innovators and disruptors in the sportsbook space, always striving for innovation and pushing the limits of new technology. So, were thrilled to align those values with our own, on a watershed journey into unexplored markets where both crypto and fiat currencies are vying for position.

In this industry, sowing the seeds of global success is best achieved by coupling international ambition to local utility. After all, while some trends are universal, language, taste and specific sports-mad fanbases are invariably culturally-contingent. International fragmentation for game design and regional requirements (e.g. regulatory, or player-preference-based) only magnifies the importance of supplying a precise game UI at every turn, and in every country. Which is why SportCaller has developed peerless geo-location tools, allowing us to geo-target and partition between diverse territories with dexterity.

Im pleased to report that initial engagement has been incredibly positive, so we cant wait to see how games like 4-3-free and Bet free 6-6 continue to perform across varied regions which, in some cases, represent new markets for us. The free-to-play vertical is clearly bringing the fun and familiarity for both new and regular customers.”

 

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Cryptocurrency

Much Wow! Cloudbet Opens Dogecoin Casino for Business

George Miller

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Much Wow! Cloudbet Opens Dogecoin Casino for Business
Reading Time: 2 minutes

 

  • Dogecoin becomes Cloudbet’s 12th cryptocurrency
  • First-timers can get a welcome bonus of up to 10,000 Doge

Cloudbet, the crypto casino and sportsbook has been creating truly pawsome gaming experiences for the crypto community since 2013, and it’s now bringing the Dogecoin betting experience to HODLers (and Elon Musk) all around the world, along with a much generous welcome bonus of up to 10,000 Doge for first timers.

Doge has had a reputation as a joke, but as of yesterday it was valued at $49.8 billion – more than Ford Motor Company ($45.2 billion) and Twitter ($44.1 billion), following a 8,000% surge in 2021. This weekend sees the Dogefather, Elon Musk, host Saturday Night Live, which should turbocharge the coin’s value if Musk mentions it during the show.

“Our community is as old as Doge’s, and many members are rabid Shibes,” a Cloudbet spokesperson said. “They want Dogecoin, and we must deliver. We’re on a one-way rocket to the moon! Mars next!” 🚀🚀🚀🚀🚀🚀

By adding Dogecoin, Cloudbet now supports 12 cryptocurrencies, including Bitcoin, Ethereum, USD Tether and Litecoin. The coins available account for more than 80% of the total market capitalization of all cryptocurrencies.

 

The Cloudbet Story

Cloudbet is a proud pioneer of crypto betting. Born in 2013 with a trailblazing spirit, Cloudbet embraced blockchain technology to give players privacy and financial freedom like never before. Since then, the site has taken millions of bets, earning a reputation as the most trusted and secure name in the crypto-gaming space.

The operator continues to innovate, having just completed a banner year of new features and upgrades aimed at attracting a more diverse audience to what was once a bitcoin-only product. In 2020, Cloudbet launched a revamped website followed by a record six new cryptocurrencies, esports, politics betting, virtual sports, social bet sharing, and easy credit-card coin purchases.

The site now supports 12 coins that collectively account for more than 80% of the total market capitalization of all cryptocurrencies. What’s more, Cloudbet is now available in 20 languages including Spanish, German, Italian, French and Korean.

The new features add to those that have made Cloudbet a trusted leader in the world of crypto gaming: the best sports odds, the highest betting limits, a state-of-the-art bitcoin casino and world-class 24/7 live chat customer support.

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Asia

Estonian Cricket Association donates one Lakh to help Covid relief in India

George Miller

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Estonian Cricket Association donates one Lakh to help Covid relief in India
Reading Time: < 1 minute

 

The Estonian Cricket Association (ECA) will be donating more than 100,000 INR to relief efforts fighting India’s Covid emergency, following the lead of high-profile Australian bowling stars Brett Lee and Pat Cummins.

Both Lee and Cummins have made significant donations towards much needed supplies in the country.

The ECA will follow Lee’s example, and make its 100,000 INR (1 Lakh, 0.027 BTC) donation using cryptocurrency to CryptoRelief.in, which has already raised more than three million dollars worth of funds from the global crypto community.

Estonian Cricket Association President Stuart Hook commented: “As one big global, cricket-loving family, we come together during tough times to help each other out.

“Everyone involved with cricket in Estonia has been inspired by the generosity of Brett Lee and Pat Cummins, and we wanted to do our small part to support those on the ground fighting for survival. We are all thinking of our friends in India, waiting for an improvement in the situation and happier times as soon as possible. We encourage everyone to stay safe, wear a mask and wash your hands. We can get through this!”

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