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#Brexit - Donohoe thanks fellow EU ministers for their solidarity and support

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On his way into today’s Eurogroup meeting, Irish Finance Minister and Eurogroup President Paschal Donohoe thanked fellow finance ministers for their solidarity and support following the UK’s proposal to override commitments made in the EU-UK Withdrawal Agreement.

Donohoe said that as an Irish citizen and as a European the two major events that had shaped his public life were Ireland’s membership of the European Union and the Good Friday Agreement (GFA). He went on to say:

“The withdrawal agreement was an agreement negotiated by the European Union that brought (the EU membership and the GFA commitments) together. An agreement that was reached after years of intense effort on behalf of the European Union, dealing with the government of the United Kingdom. The European Union is a project that is based on the rule of law. It's based on respect. It's based on honoring agreements of the past and building on them in the future. As the United Kingdom looks, to what kind of future trading relationship it wants with the European Union, a prerequisite is honoring agreements that are already in place.”

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Following an extraordinary meeting of the EU-UK Joint Committee yesterday (10 September) on the draft of the United Kingdom’s Internal Market Bill, Vice-President Maroš Šefčovič restated that the UK must fully implement the Withdrawal Agreement, including the Protocol on Ireland / Northern Ireland – which Prime Minister Boris Johnson and his government agreed to, and which the UK Houses of Parliament ratified, less than a year ago – is a legal obligation.

The European Union reminded the UK that violating the terms of the Withdrawal Agreement would break international law, undermine trust and put at risk the ongoing future relationship negotiations.

The Withdrawal Agreement entered into force on 1 February 2020, neither the EU nor the UK can unilaterally change, clarify, amend, interpret, disregard, or disapply the agreement.

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Vice-President Maroš Šefčovič stated: “The EU does not accept the argument that the aim of the draft Bill is to protect the Good Friday (Belfast) Agreement. In fact, it is of the view that it does the opposite.”

The UK has been given to the end of the month to withdraw the draft legislation. The British government has already tabled the bill for debate and adoption before the end of the month. Šefčovič stated that the EU would not be shy of using all mechanisms and legal remedies should the UK violate its legal obligations.

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Cryptocurrency

Why Ethereum can surpass Bitcoin in the near future

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Bitcoin and Ethereum have earned their positions as the top best cryptocurrencies, in the fast-changing industry, both have excellent exchange rates, the value for 1 Bitcoin is $61,772.30 at 0.95% in the last 24hour, while Ethereum has a value of $3,735.66 at -1.61% in the past 24 hours.

In the past weeks due to the fluctuations that hit the crypto market, the price of Bitcoin fell sharply, even Ethereum which is the second-largest cryptocurrency after Bitcoin lost 50% of its value. It is faster and more flexible than Bitcoin.

Many people often think that the value for Ethereum may outplace Bitcoin knowing that the cryptocurrency market is unstable. They often ask, will Ethereum surpass Bitcoin in years to come?. Here in this article, we will consider some reasons why Ethereum may outplace Bitcoin.

Furthermore, you can get to know about the best Bitcoin exchange, current stock rates, large platforms to trade your crypto stock, reviews, news updates, and other useful links on the BestBitcoinExchange website.

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Ethereum is a platform that is not concentrated in one direction rather it has a decentralizing feature, it also has a core quality such as the blockchain. The difference between it and Bitcoin has brought a lot of argument and has also caught the attention of active traders in the likes of (Goldman Sachs) who recently made it known to its traders that Ethereum has the possibility of surpassing the $660 billion market capitalization of Bitcoin.

This stock has a more promising future as a result of its real-world application and capacity to preserve value. Additionally, this stock has the capability of being programmed with smart contract features, unlike Bitcoin.

Ethereum: As An Easy Medium of Exchange 

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Having known that this stock supports new ideas, infrastructures and allows the development of new applications. It is also a more valuable resource in long-term investment.

As a blockchain network, Ethereum is a decentralized public ledger that may be used for verifying and storing transactions. The user of this stock can create, monetize, publish and use various applications on the platform, and Ether (ETH) is used to pay for the different transactions.

However, it resulted in a higher utilization rate for Ether (ETH), with lots of transactions than that of Bitcoin in the past months. In the past 12months, irrespective of the decrease in the cryptocurrency stock, Ether increased almost to 1000% compared to Bitcoin which only had an increase of 300%. Though Bitcoin is highly a token of value, the blockchain of Ether and Ethereum ignites each other. Also due to the recent developments and upgrades of the Ethereum network, it is making the stock get more ahead and also reduces the worth of transactions.

It Runs Smart Contract

The smart contract is a program that runs on the Ethereum blockchain, it is a catalog of codes and data that reside at a specific address on the Ethereum blockchain. They are a type of Ethereum account.

This entails a code that can execute itself automatically when certain criteria are met. This code enables an insurance policy to make payments without necessarily making a claim. It also facilitates non-fungible tokens (NFTS).

 Regulation of The Stock

Ethereum stands as a sustainable function-oriented approach to the cryptocurrency that will assist the future of DeFi. Unfortunately, many people are still waiting for government regulations, which keeps them at a sideline.

Final Thought

As earlier stated Ethereum runs transactions faster than Bitcoin, consumes less energy. Bitcoin uses a proof of work mining pattern, while Ethereum is a vastly moving proof of stake network. Information has it that developers are working to release a 2.0 version of the stock which will move it from a PoW to a PoS versatile network.

Furthermore, the recent upgrade of the stock makes it difficult for miners to charge excessive trading fees. It makes the stock more environmentally friendly thereby causing a reduction of the work miners must undergo to access the network. This sudden growth made researchers and analysts predict that it may surpass Bitcoin soon.

Also, Ethereum stock which was founded in 2015 has a major factor that could see it eclipse. Though Bitcoin holds a long history and record, Ethereum flexibility could see it rise to a top rank. This flexibility is known as an "infinite garden" because it creates room for a great number of financial products and services, and offers developers long-lasting opportunities to create decentralized applications. This caught the attention of the global financial institutions who saw it as an opportunity and competition.

As a fast-growing stock with lots of upgrades that offer different transaction options, Ethereum may be able to surpass Bitcoin in the future.

This article is for information only and does not constitute investment advice.

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How to benefit from Crypto Arbitrage

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There are many ways to make money from trading cryptocurrency, one of which is arbitrage. However, arbitrage is not peculiar to cryptocurrency. Arbitrageurs have been taking advantage of arbitrage even in the traditional financial market. By buying a security from one exchange where the price is low and instantly selling it in another exchange for a higher price, a trader can exploit the price difference. The discrepancies in the price of cryptocurrency across many exchanges give room for arbitrage opportunities.

What is Arbitrage?

Arbitrage is the act of simultaneously buying and selling assets from different markets and exchanges to make a profit from the price discrepancy. The price discrepancy or imbalance is known as the spread. To carry out arbitrage, you have to purchase an asset from one exchange at a lower price and immediately sell the asset at another exchange for a higher price.

Crypto Arbitrage

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Similar to sports arbing and fiat arbitraging, crypto arbitrage is the process of buying a crypto asset in an exchange where the price is low and selling it where the price is higher. However, this is only one of the different ways of crypto arbitrage. Traditional fiat currency traders rarely enjoy the benefit of arbitrage. On the other hand, there are several ways an arbitrageur can benefit from crypto arbitrage. 

Big crypto exchanges follow the force of demand and supply to determine the price of an asset. If the demand for a particular asset, say XRP, is low in an exchange, its price will drop in that exchange, but if the demand is high its price will rise. Most of the smaller exchanges follow the price set in big exchanges. If you would like to learn how to buy cryptocurrency, read here for more.

Types of Crypto Arbitrage

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Spatial Arbitrage

It is the most simplistic form of arbitraging. In spatial arbitrage, you buy a cryptocurrency in an exchange and immediately sell it in another exchange, gaining from the price differences in the two exchanges. To take advantage of spatial arbitrage, you have to buy where the price is low and sell where there is a significant price rise. For instance, you can buy 1 Bitcoin at the rate of USD40,200 from Gemini and sell the same volume of BTC at USD40,310 on Binance.

The problems with this kind of arbitrage include transaction costs on the two exchanges and transfer time. You have to be very fast with your transaction, otherwise, the price might have risen where you intend to sell.

Triangular Arbitrage

This involves trading three pairs of cryptocurrencies in one exchange simultaneously. According to statista, as of October 2021, there are over 6000 cryptocurrencies in existence and you can pair any of them together to carry out triangular arbitrage, especially the prominent ones. For instance, you can trade BTC for ETH, ETH for DOT, and DOT back to BTC. The problem with triangular arbitrage is that it can be difficult for people who are new to cryptocurrency trading to be able to compare the price of different assets or know which assets to pair.

If you are confused, then multiply the amount you are trading by the exchange rate of the first pair of cryptocurrencies, then divide it by the exchange rate of the third pair of cryptocurrencies. If the answer is more than the amount you want to trade, then you can make a profit, that is, after you deduct trading fees.  

Automated Arbitrage

Rather than jumping from one exchange to the other and risking technical issue and slippage, using a bot to automatically carry out the trade is more assured. The high levels of volatility in crypto exchange can lead to a change in the intended price and rather than profiting from arbitrage, you can make a loss. Rather than constantly checking for opportunities, a bot can perform the task automatically and in less time. The moment there is a slight change in price which a crypto trader can benefit from, the bot will capitalize on it.

Crypto arbitrage bots use algorithms that analyse data and trends, especially coin prices across many exchanges then carry out trades based on the observed differences. A bot is quite an investment and experienced crypto traders take advantage of this rather than sitting with their computers constantly checking for price differences.

To benefit from crypto arbitrage:

Ensure the fee charged on your transaction is not as high as the profit you are making. For instance, if the price discrepancy is USD20, do not automatically assume that that is your profit. Factor in the withdrawal and sometimes deposit fees that will be deducted by the exchange. You can as well divide your crypto assets across multiple exchanges, this will reduce the impact of the charges during arbitrage.

As an arbitrageur, time is of the essence. While waiting for your transaction to be processed, slippage can occur which might make you lose money. To sell at a higher price on a different exchange, you need to develop a fast and efficient method of arbitrage and stick to it because the cryptocurrency market is very volatile and might not work in your favor.

Use secure hot wallet exchanges. Most centralized cryptocurrency exchanges provide hot wallets for users to keep their assets and they are susceptible to attacks by hackers. To protect your money from getting lost, carry out proper research on the exchange you want to use. More often than not, if it is too good to be true then it is not true.

Conclusion

In cryptocurrency, it is very common to find different exchanges offering the same digital currency at different prices. Taking advantage of the price imbalance does not come without its risk. However, if you can do your due diligence, you can benefit highly from crypto arbitrage.

This article is for information only and does not constitute investment advice.

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3 short-term cryptocurrency investment strategies

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Cryptocurrency trading and investments requires adequate knowledge and planning before going into it. One needs to be aware of the principles behind its operations, it is also necessary to have a unique strategy to make your trading experience smooth knowing that it is associated with lots of risks.

Short term investment method is simply when the trader holds on to his stocks for less than a year, they usually buy and sell more often, they are known as "active traders". Especially when your target is to earn something huge, in a short duration.

However, you must be ready to take greater risks and also be prepared for a tendency to lose your investments. This is simply the truth behind it knowing that the cryptocurrency market is unusable.

Short-term trading can be referred to as "aggressive" trading. Why is that? Reasons being that there's the possibility of losing your investments and also because you have the hope of making more profits. Fortunately, this short-term trading can be classified depending on how quickly the profits come. It ranges from hours to days or even weeks. It should be noted that the shorter the time limit, the greater the trading risk.

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This post aims to shed more light on some of the short-term crypto investments’ strategies. Also, check out VantagePointTrading to get more information on how to buy stocks, trading stocks, investments guides, and even updates on economics and business. 

1. Day Trading

This is a strategy that is used by short-term traders, it involves the process whereby the trader closely and actively watches the crypto market to be able to know and judge how to make his trade. This is usually done with lots of commitment and dedication to enable the trader to monitor the market trends.

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In this system, the trader aims at making small profits to add to a bigger amount. Knowing that the cryptocurrency market is open 24/7 hour, trading can be very risky most times such that there is no guaranteed profit. Despite that, day trading is a very good way of making money online, such that you can make as much as 5% to 10% profits on your investments, knowing that it capitalizes on the instability of the stock.

This process of speculating on financial products and assets keeps traders up to date on what comes out in the market, they also place lots of orders in a single day.

2. Scalping

In this pattern of short-term trading strategy, the trader buys and sells very quickly in a day, resulting in multiple trading of stocks within that same day. The investors trade on penny stocks such that they can buy and sell very quickly which may happen within minutes as the case may be.

Any trader who wishes to use this cryptocurrency strategy should have at least a free commission brokerage so that if you are buying and selling within minutes it will not eat into your profit. When scalping the trader should try to focus on one currency pair or position at a particular time to give them higher chances of success.

As earlier said the technique can give you small profits per transaction and the risk is also very minimal. It is a good tool for newbie crypto traders, to enable them to learn and get more experienced. It is advised you invest little funds for a start. Additionally, scalping uses little funds and a smaller volume of coins to note as many changes may occur.

3. Swing Trading

Swing trading entails using a graphical representation of the prices instability and fluctuation to identify the current trending stock in a particular time interval. We know the prices of these various stocks vary in both directions, which may result in rising or falling.

Swinging in the stock market means identifying a repeating time frame of price behavior and then capitalizing on the stock by buying or selling it.

Unfortunately, this particular system of trading is reserved for experienced traders, most especially those that are well-grounded in identifying and understanding charts and indicators. Mobile apps and charts are essential tools in this strategy. The user of this strategy needs to also understand peaks and drops to use the pattern effectively. The Binance is a good example of a swing trading strategy.

Final Thought

In the above article, we have successfully looked at some short-term strategies of investment depending on the time frame of how you want your profit to come. Also, in this short term strategy, the following holds;

●     Short-term investors are usually very active.

●     Always up to date about the market value of the stock.

●     Passive profit in a short time.

●     It also has a risk factor.

●     Consumes a lot of time.

●     Comes with many requirements.

This article is for information only and does not constitute investment advice.

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