Trader’s Journal #20

Trader’s Journal
Trader’s Journal #20

1. A full-scale launch of margin trading at “Binance” happened

“Binance,” the leading cryptocurrency exchange in terms of trading volumes, has launched a margin trading platform for all users.

Its CEO, Changpeng Zhao, stressed that the new service should meet the needs of both institutional and retail traders.

The interface of the margin platform allows users to access both tradings with leverage and regular exchange trading, while the transfer of funds from the margin of the wallets in the exchange will not be charged.

As collateral for margin trades, users can use such bitcoins as Ethereum, Ripple, Binance Coin, TRON, and USDT. By analogy with the core platform, the fee can be paid in BNB.

2. The Swiss stock exchange launches the exchange product “Bitcoin Cash”

A new exchange product based on the Bitcoin cache (ETP) is now available on the SIX Swiss Exchange under the name “Amun Bitcoin Cash (ABCH) ETP.” “Amun AG,” the Swiss FinTech company, which raised $ 4 million in March, rolled out the product on Friday as ф part of its mission to create more funding for cryptocurrency investments and simplify the purchase of cryptocurrencies (such as Bitcoin Cash) and shares.

“Bitcoin Cash ETP” it is the sixth tracker of crypto-assets “Amun” listed on SIX, which is considered the first Bitcoin Cash product in the world traded on the exchange with physical support. Like other products of “Amun,” “Bitcoin Cash ETP” is subject to a 2.5% management fee, which includes storage, insurance, and rebalancing costs.

The listing rules of SIX requires that ETP meet the regulatory requirements for consumer protection. “ABCH” will be fully secured and denominated in US dollars. “Amun” also states that its storage solution uses a variety of security measures, including cold storage, multiple private keys, as well as the use of white lists and checklists to protect customer funds.

3. Turkey started to prepare for the launch of its own cryptocurrency

The Turkish Parliament said that the plans for the development of the economy included the creation of its own cryptocurrency. Economists from the Central Bank of Turkey became responsible for this process.

It is planned to implement the project by the end of 2024. It also became known that blockchain technologies will integrate logistics and customs control processes.

According to the Vice President of Turkey Fuat Oktay, the government has set a task to accelerate the work on innovation in all sectors of the economy. Special attention will be paid to the energy and efficiency of the state apparatus.

Turkey is considering options for launching its own digital currency from February 2018. However, while the government is sceptical about the prospects of a new asset, it will not hurry to release the token “Ankara.”

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