Monat: Februar 2023

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Things to consider when choosing your trading platform

  • Choosing a good trading platform is one of the first steps to crypto investing.
  • Check local laws and find out if the platform is regulated or complies with set requirements.
  • Decide what type of trader you are and assess your technical skills.

Trading platforms allow traders to manage their trades, monitor markets and execute transactions in real time. It is an application that facilitates your ability to trade stocks and other financial instruments.

The best trading platforms offer features and functionality that meet the needs of both novice and experienced traders.

Check local laws and regulations

As a trader, it’s important to make sure your trading platform complies with local laws and regulations in your area. Some countries require traders to disclose their true identity before they can start trading or use a particular platform. Other countries have strict rules regarding the types of financial instruments that can be traded online and regulate which platforms are allowed to offer services in their jurisdiction.

Decide what type of trader you are

Are you just starting out and looking to learn the ins and outs of the business? Or are you an experienced trader looking for advanced features to help you maximize your profits? Do you need a platform that specializes in a particular type of trading, such as cryptocurrencies, or can your account be used on multiple platforms at once?

Your answers to these questions determine which features and tools are most important to you. So, before you start comparing different trading platforms, take a moment to think about what type of trader you are and what features will best help you achieve your goals.

Assess your technical skills

Platforms are designed for different skill levels, so it’s important to choose one that matches your level of expertise. If you are just starting out as a trader, it is best to choose a simple platform. That way, you can learn the basics without being overwhelmed by complicated tools and features.

However, even if you have some experience in trading stocks or other financial instruments, some complex aspects of your chosen platform may require extensive use of technical skills, such as advanced charting tools or automated algorithmic trading systems. It is therefore important to assess your capabilities before choosing a platform.

Evaluate the reliability and security of the platform

When you entrust your money to a trading platform, it’s important to make sure it’s reliable and secure. After all, you don’t want to have to worry about your money – or your personal information – being stolen by hackers.

There are a few key things to consider when evaluating the reliability and security of a trading platform. First, check to see if the platform is registered with the Securities and Exchange Commission (SEC) or another regulatory body. This is a good indication that the platform is legitimate and has been monitored by a government agency.

Look at the customer service

The final thing to consider when choosing a trading platform is the quality of customer service. So make sure that any platform you consider has a reliable customer support team and an easy-to-use system for getting in touch with them.

The post Things to consider when choosing your trading platform appeared first on CoinJournal.

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Aave deploys GHO stablecoin on Ethereum’s Goerli testnet

  • Aave has joined the space of DeFi protocols that have released their own native stablecoins.
  • The GHO stablecoin is not live on Ethereum’s testnet.
  • The GHO mainnet is however yet to be launched awaiting community discussion and approval.

Leading crypto decentralized finance (DeFi) protocols, Aave, has successfully deployed its native stablecoin GHO on Ethereum’s Goerli testnet. Aave is a leading crypto lending platform and the deployment of its stablecoin comes as MakerDAO, the issuer of one of the leading stablecoin DAI, announced plans to launch a crypto lending platform.

Following the deployment of GHO on the Ethereum testnet, potential adopters and developers of the stablecoin can access the stablecoin’s codebase and test how it works before the stablecoin is released to the general public on Ethereum.

However, while the testnet is ready for testing, the launch of the GHO mainnet depends on community discussions and approval through the Aave DAO which is in charge of Aave governance through proposals and voting. The DeFi community has been eagerly waiting for the GHO stablecoin launch since the Aave community overwhelmingly supported its development in August last year.

Stiff competition from Maker’s DAI stablecoin

While Aave has enjoyed a good time in the crypto borrowing and lending industry, its involvement with stablecoin means it will face stiff competition from rival DeFi protocols like Maker that have issued their own native stablecoins.

Currently, MakerDAO’s DAI stablecoin is the largest decentralized stablecoin. Curve, another renowned DeFi protocol is also developing its native stablecoin dubbed crvUSD.

However, Aave’s top position within the DeFi space with a total value locked (TVL) of $7.15 billion may give it a jumpstart with the stablecoin project.

The post Aave deploys GHO stablecoin on Ethereum’s Goerli testnet appeared first on CoinJournal.

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Chiliz token declines 7% after rallying to 2-month high on new blockchain launch

  • Chiliz launched a new layer-1 blockchain that’s EVM-compatible.
  • The price of the native token CHZ rose more than 20% to a two month high above $0.17.
  • Profit taking today has seen it decline over 7% to around $0.15.

Chiliz , the blockchain-based platform for fan tokens and leading Web3 sports infrastructure, marked its 5th anniversary on 8 February with the validation of the genesis block of its new layer-1 blockchain.

Chiliz’s native token CHZ will power the new blockchain ecosystem, including fueling all the decentralised applications (dApps). With CHZ holders able to stake and receive rewards, the overall appeal of buying CHZ and then staking the coin helped push its price higher following the genesis block.

According to data from CoinGecko, the price of CHZ rose to highs above $0.17, ticking up by more than 20% on the day. However, with the broader crypto market slipping on Thursday morning, and likely due to profit taking deals, CHZ/USD has pared its recent gains and currently trades just above $0.15.

The token’s value is down 7.6% in the past 24 hours, though it’s still nearly 10% up this past week and over 33% in the last 30 days.

The Chiliz Blockchain launch

As earlier noted, the launch of the EVM-compatible Chiliz blockchain comes as the network looks to tap into the growing adoption of fan tokens across the world’s sports and entertainment brands.

Over the past year, Chiliz has, through the Socios.com fan engagement and rewards app, issued fan tokens and sealed collaborations with top sports brands, including soccer giants FC Barcelona, Paris Saint-Germain and Manchester City.

The platform makes it possible for clubs and entertainment brands to leverage the Chiliz blockchain to issue fan tokens, allow for the minting of NFTs, and build DeFi products. Chiliz also helps brands develop and grow via new play-to-earn (P2E) games as they look to further fan engagement.

The post Chiliz token declines 7% after rallying to 2-month high on new blockchain launch appeared first on CoinJournal.

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Blockchain-based platform ShareRing announces alpha release of its Vault Query Language

  • ShareRing releases alpha version of its web-based tool Vault Query Language (VQL).
  • The Alpha release allows users to test the query tool securely from their ShareRing Vault.
  • ShareRing is a blockchain-based digital identity platform.

ShareRing, a blockchain-based digital identity provider, is making it possible for its users to retrieve their profile data, all this securely and with a seamless Web3 experience.

The platform recently announced the alpha release of the ShareRing Vault Query Language (VQL), a web-based solution that offers a query tool users can leverage to operate in a zero-trust ecosystem.

According to the ShareRing developer team, a query language is “any computer programming language that requests and retrieves data from database and information systems.” 

The QL sends queries based on programming commands users enter, and this same structure applies with the VQL. In this case, users can leverage the system to work on QR code logic to securely access specific information from the ShareRing Vault.

With the alpha release of the VQL, users can now test the feature directly from their Vault without worrying about data security. This is because user data in a VQL request is encrypted against the private key of a user’s Vault. 

Only the ShareRing ID holder can access the data, adding to the fact that VQL complies with data privacy regulations.

Setting up a ShareRing account

As noted above, ShareRing offers a blockchain platform where users can create and use self-sovereign data. Per the platform, this is possible via verifiable credentials that users can access and use seamlessly across Web2 and Web3.

Those new to ShareRing can begin to use the platform by first downloading the ShareRing app on Apple App Store, Google Play or Galaxy Store. The next step is setting up an account to get an ID and Vault before then proceeding to login to the customer portal – which will be public after the beta phase.

From here, one needs to scan the provided QR code and once set up, proceed to create a query, test it and scan another QR code to get the answer.

Who can use the ShareRing Vault Query Language?

While any user can utilise the ShareRing tool, the initial release will require one to have basic coding knowledge. In particular, users require these basics when setting up logic requests for the Personal Identification Information (PII) that lead to data extraction.

Basic coding skills are also key for when dealing with the QR code and for know-how on handling simple actions like customising, editing, and deleting queries. 

However, ShareRing makes these actions simple, with users able to access their Vault to and the URL backend by simply scanning a QR code.

The post Blockchain-based platform ShareRing announces alpha release of its Vault Query Language appeared first on CoinJournal.