We apologize for any inconveniences this may cause.

Related follow-ups to this subject will be announced separately as soon as possible.

**Thank you for your support!**

**The KuCoin Team**

* * *

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https://cdn.cryptohopper.com/images/news/uploads/1652540377-deposit-and-withdrawal-services-of-ecash-xec-will-be-temporarily-closed.jpg

Deposit and Withdrawal Services of eCash(XEC) will be Temporarily Closed 

**Dear KuCoin Users,**

Due to the network maintenance, we will suspend the deposit and withdrawal services for eCash (XEC) at 11:00 AM on May 15 (UTC).

Deposit and Withdrawal Services of eCash(XEC) will be Temporarily Closed  - Cryptohopper

**Version 1.73**

**Features**

- Addition of a revenue multiplier in the Affiliates section
- Updated the Search tab in the Bitfinex Pulse sidebar

**Improvements**

- Updated the accepted IP address format
- Updated the Turkish Lira wire withdrawal success message estimated time
- Updated to add a loading indicator when attaching Trading View snapshot to pulses
- Updated the light theme avatar in the Pulse onboarding modal
- Updated to open links within the Bitfinex Pulse sidebar
- Updated the Balances pie chart to display a single slice for a token and its Derivative\* equivalent in Bitfinex Pulse

**Bug Fixes**

- Fixed the issue of components overlapping in Grid editing mode
- Fixed the volume indicator issue showing unexpected label on the price scale
- Fixed the TradingView Chart issue of sending a double request to reset layout and double reset to reset interval
- Fixed the price scale issue on the saved layout load for the TradingView chart
- Fixed the Depth Chart slider collapsing issue
- Fixed the issue of the API key’s ‘Update permissions’ button from being double-clicked, which triggered an error message
- Fixed the link to the Support Center in the Settings menu
- Fixed the API Key update button to be disabled when there is no entry
- Fixed the generate address tooltip to change to a “tag” or “memo” generator depending on the deposit currency
- Fixed the issue of the wire withdrawal process being blocked after a currency switch
- Fixed an issue to ensure OpenPayd GBP/EUR withdrawals are available to Intermediate eligible users
- Fixed an issue of the indicator not being displayed on sorting of the Tether hot wallets table
- Fixed to resolve text overflow issue in the Bitfinex Pulse Portfolio Exposure Chart

* * *

\*The derivatives platform is provided by iFinex Financial Technologies Limited. References to Bitfinex Derivatives in this post are references to iFinex Financial Technologies Limited. The Bitfinex APIs are designed to allow complete access to the features provided by Bitfinex. Learn more about our API documentation [here](http://docs.bitfinex.com/docs).

The post  appeared first on [Bitfinex blog](https://blog.bitfinex.com).

https://cdn.cryptohopper.com/images/news/uploads/1686154041-change-log-version-1-73.png

The Bitfinex Change Log is an overview of all performance and UI changes made to the Bitfinex trading platform. For an overview of all previous changes, please refer to blog.bitfinex.com/category/changelogs.

Change Log: Version 1.73

The latest update to the Bitfinex mobile app includes support for Bitfinex Securities trading from sub-accounts.

- [**iOS**](https://apps.apple.com/us/app/bitfinex/id1436383182?ls=1)
- [**Android**](https://bit.ly/2GOu6na)

You can also download the latest version of the Bitfinex mobile app from the [**Android Application Package (APK)**](https://github.com/bitfinexcom/mobile-pub/releases/tag/v6.3.0).

**Please share your experience by leaving a review in the app store or by completing the** [**Bitfinex mobile user app survey**](https://forms.gle/qSTesaGn2RKAdaJo7) **!** The below changes have been suggested to us by our active customer base. Feedback from our customers is incredibly valuable to us.

* * *

**Feature**

- Updated to support Bitfinex Securities trading from sub-accounts

**Trading**

- Improved the Trading and Funding page loading time
- Improved for faster order book loading time
- Updated to support line drawing on the trading chart in Pro Mode
- Updated to show a full page instead of a modal when modifying an offer
- Added LAI (previously GPT) and WBT token icon
- Updated to add a message when no tickers are shown in the Favourites list
- Fixed the issue of chart settings not persisting on Android devices
- Fixed Paper Trading currencies display on normal accounts
- Fixed the Ticker exponential value

**Others**

- Updated to avoid blocking screen content by adding auto toggle when in account switch mode
- Updated to show the funding order lines on the trading chart
- Updated to show a full page instead of a modal when modifying an offer
- Updated to sync the Staking rewards format with the web version
- Updated the Bitfinex Pay Merchant map data
- Updated to disable font scaling from device accessibility settings
- Fixed the funding Auto Renew maximum amount
- Fixed the Paper Trading account to not access the Deposit page

You can also share your feedback with us by joining our [**Bitfinex Telegram channel**](https://t.me/bitfinex) and [**Discord community**](https://discord.com/invite/bitfinex).

The post  appeared first on [Bitfinex blog](https://blog.bitfinex.com).

https://cdn.cryptohopper.com/images/news/uploads/1686145763-mobile-app-change-log-6-3.png

_Recent updates and optimisations to the Bitfinex mobile app_

We’re pleased to present **Version 6.3** of the Bitfinex mobile app.

Mobile App Change Log 6.3

The advantages that GoCrypto provides, is that they allow merchants to accept traditional payments like debit and credit cards, digital payments apps like Apple Pay, as well as a range of popular digital currencies and tokens while settling them in cryptocurrency or local fiat currency, thus avoiding crypto volatility risk. GoCrypto provides merchants with smart Point of Sale (PoS) devices, or a PoS web solution which lets merchants accept payments from any mobile device or PC, and a dashboard to track sales and customer analytics.

GoCrypto envisions itself as a simple-to-use, easy to onboard to, payment processor which lets merchants effortlessly accept payments from almost any kind of payment method. They are the all-in-one solution which hopes to unify payments into one seamless solution.

## GoCrypto (GOC)

GoCrypto was created to solve a critical problem for merchants who wish to provide goods and services to customers in a digital world with many different ways to make a payment. GoCrypto provides the virtual tools and physical equipment for merchants to easily accept card payments, digital payments, and crypto payments, all on the same PoS device.

GoCrypto’s standalone PoS solutions, WebPOS, Manager app, Elly Wallet, GOC Bridge, GoCrypto 2.0, and the GOC token are the platform’s components that make up the GoCrypto ecosystem. GoCrypto also offers white-label payment infrastructure, for enterprise payment processing services.

GoCrypto also collaborated with Tether in building the complete payment infrastructure for the newest European Bitcoin city, located in Lugano, Switzerland. This project was a collaborative effort with Tether and the City of Lugano as part of the Plan ₿ initiative.

GoCrypto is an all-in-one solution for online and physical retailers looking to adapt with the modern business climate of accepting crypto payments, mobile payments, as well as traditional credit/debit cards, without the need for multiple payment processors or PoS devices.

GoCrypto also has launched a next-generation Non-Fungible Token (NFT) marketplace integrated into its payments and Web3 ecosystem, as well as a Decentralised Autonomous Organisation (DAO), as part of its GoCrypto 2.0 initiative.

## How GoCrypto Works

GoCrypto provides payment processing capabilities for physical and virtual merchants. Merchants who have onboarded are provided with GoCrypto’s set of merchant tools, which allow them to begin accepting a number of different kinds of payments.

Merchants can either accept payments via the standalone POS terminals, webPOS, integration in cash register systems and eCommerce plugins + custom eCommerce. In addition to payments, GoCrypto provides tools for tracking sales, purchases, customer info, and analytics.

GoCrypto’s GOC token is the native utility token within the GoCrypto ecosystem and is primarily used for payments and rewards, although as the GoCrypto NFT platform and DAO are launched under GoCrypto 2.0, we may see further use cases emerge, such as staking, governance, or other popular Web3 use cases.

The token is available on four popular blockchains. The GOC bridge allows GOC token holders to participate in bi-directional swaps of the GOC token across multiple blockchains.

## Why is GoCrypto Unique

GoCrypto is unique because it is the only payment solution which makes it easy for merchants to accept every kind of the most popular forms of payment, including crypto, with the unique quality bringing crypto payments to them with zero volatility risk.

Merchants using GoCrypto enjoy the flexibility of receiving instant settlements in cryptocurrency or periodical settlements in their local currency.GoCrypto makes it easy for businesses to modernise their infrastructure for our rapidly evolving digitally native economy.

GoCrypto has products for all types of business enterprises. GoCrypto offers licensed, integrated, or white-labeled products. Its operations span across more than 70 countries, serving over 100,000 locations, and meeting the needs of 420 million cryptocurrency holders.

## The GoCrypto Ecosystem

### Payment Solutions

- The Elly POS Terminal: This hardware device supports card payments, cryptocurrency payments, and digital payments. Merchants can enter the payment amount, and customers can choose to pay with one of the supported wallets. They can scan the QR code and confirm the payment. Paying with the Elly Wallet and the GOC token may also provide up to 2% cashback in GOC tokens.

- GoCrypto WebPOS: This software allows merchants to manage payments without the need for a physical POS Terminal. It can be downloaded on a computer, tablet, or mobile phone. The process for generating a crypto payment is similar to that of the Elly POS Terminal.

- GoCrypto Online Store: GoCrypto provides solutions for online stores, offering two options: free plug-ins for WebShop platforms and custom integrations for personalized online stores.

- Manager: A free analytical tool for a full overview that monitors all payment transactions and payouts per location. It provides detailed analytical data and advanced filtering possibilities for business and accounting purposes.

### Elly Wallet

Elly Wallet is the GoCrypto ecosystem’s crypto wallet. It lets users shop with crypto, buy cryptocurrencies with a credit card or from a bank account, sell cryptocurrencies, and hold supported cryptocurrencies. In respective countries, Elly Wallet users who pay with the GOC token at any of the supported stores can receive up to 2% cashback in GOC tokens.

### GOC Bridge

The GOC Bridge is a cross-chain bridge which lets GOC token holders send and receive GoC tokens across popular Web3 blockchains and also participate in Decentralised Applications (DApps) and Web3 platforms.

### GoCrypto 2.0

GoCrypto 2.0 represents the next phase in the GoCrypto roadmap. The platform aims to operate in a decentralised manner, with management through GoCrypto’s DAO and transaction handling via smart contracts. Users will have the ability to make cryptocurrency payments with any crypto wallet. Additionally, merchants will have the option to receive payments in cryptocurrencies or their local currency.

## What is the GOC Token

GoCrypto’s GOC token is a multichain utility token which is the native token for the GoCrypto ecosystem. The GOC token is used for payments within the ecosystem and is also used for customer rewards, which allow users to earn GOC.

Elly Wallet users can pay directly with GOC at retail locations and online shops in select countries and earn rewards. Once the GoCrypto DAO and NFT marketplace launch, we may see more Web3 use cases for GOC tokens. GOC is slated to play an important role as a governance token in the new GoCrypto 2.0 decentralised payments protocol.

GoCrypto’s GOC token smart contract exists on Binance Smart Chain (BSC), Bitcoin Cash (SLP) blockchain, Smart Bitcoin Cash (smartBCH), and Polygon (MATIC). Each contract holds the same number of GOC tokens which are illiquid and held on reserve addresses.

## GOC Tokenomics

As cross-chain transfers are made, tokens can only become liquid when the same GOC amount from another chain gets locked on one of the reserve addresses through the GOC Bridge App. This mechanism regulates the total supply and ensures it never exceeds the hard cap of 299,095,759 GOC.

## GoCrypto Roadmap

The next major milestone in the GoCrypto roadmap is the successful launch of GoCrypto 2.0, which will add a bunch of Web3 capabilities and use cases to the GoCrypto ecosystem. GoCrypto users will soon be able to participate in GOC token-based DAO governance, staking, yield farming, referral program, NFT minting & trading, and more.

Currently, GoCrypto 2.0 is in an open alpha version, which launched in February, to allow the GoCrypto community to test out the new feature set. It’s live on BSC right now, but will soon launch on GoCrypto’s additional blockchains.

GoCrypto 2.0 Payments will enable crypto and digital payments where customers can pay for their purchase in virtually any currency, and merchants get settled in their desired currency as well. No usernames, no emails, no passwords required. All transactions are processed on-chain which makes them fully transparent and trackable. The protocol will initially support payments in GOC token and USDT, but more coins will be added in the following months.

## The GoCrypto Team

GOC token is a native token of the fastest-growing payment network, GoCrypto. Eligma Ltd., the entity responsible for GoCrypto, was established in 2017 under the leadership of Dejan Roljić, who holds the position of CEO. Headquartered in Ljubljana, Slovenia, the team has expanded to include over 30 professionals specialising in blockchain development and payment solutions.

## GoCrypto Partners

- Bitfinex
- Tether
- Bitcoin.com
- Binance
- GlobalPayments

## **How to buy GoCrypto (GOC) on Bitfinex**

### **How to buy GOC with crypto**

1. [Log in](https://www.bitfinex.com/login?refcode=0bC4Lljc?refcode=0bC4Lljc) to your Bitfinex account or [sign up](https://www.bitfinex.com/sign-up?refcode=0bC4Lljc?refcode=0bC4Lljc) to create one.

2\. Go to the [Deposit page](https://movement.bitfinex.com/deposit).

3\. In the Cryptocurrencies section, choose the crypto you plan to buy GOC with and generate a deposit address on the Exchange wallet.

4\. Send the crypto to the generated deposit address.

5\. Once the funds arrive in your wallet, you can trade them for GOC. Learn how to trade on Bitfinex [here](https://support.bitfinex.com/hc/en-us/articles/115004405873-A-Beginner-s-Guide-to-Bitfinex).

### **How to buy GOC with fiat**

1. [Log in](https://www.bitfinex.com/login?refcode=0bC4Lljc?refcode=0bC4Lljc) to your Bitfinex account or [sign up](https://www.bitfinex.com/sign-up?refcode=0bC4Lljc?refcode=0bC4Lljc) to create one.

2\. You need to get full verification to be able to deposit fiat to your Bitfinex account. Learn about different verification levels [here](https://support.bitfinex.com/hc/en-us/articles/360017321633-Verification-Levels-and-Advantages).

3\. On the [Deposit page](https://movement.bitfinex.com/deposit), under the Bank Wire menu, choose the fiat currency of your deposit. There’s a minimum amount for fiat deposits on Bitfinex; learn more [here](https://support.bitfinex.com/hc/en-us/articles/360010505034-Fiat-on-Bitfinex).

4\. Check your Bitfinex registered email for the wire details.

5\. Send the funds.

6\. Once the funds arrive in your wallet, you can use them to buy GOC.

## **GoCrypto Network Community Channels**

[Twitter](https://twitter.com/GoCrypto_) \| [Discord](https://discord.gg/kJkjgsN2) \| [Youtube](https://www.youtube.com/channel/UCfshAN27bKPe4f3uBIr7jjA/featured) \| [Telegram](https://t.me/eligma) \| [Facebook](https://www.facebook.com/gocrypto.eligma/) \| [TikTok](https://www.tiktok.com/@gocrypto_official) \| [Medium](https://medium.com/eligma-blog) \| [LinkedIn](https://www.linkedin.com/company/18461396)

 [BUY GOC Here](https://trading.bitfinex.com/t/GOC:UST?type=exchange)

The post  appeared first on [Bitfinex blog](https://blog.bitfinex.com).

https://cdn.cryptohopper.com/images/news/uploads/1686135299-what-is-gocrypto-goc.png

GoCrypto is a multi-payment processor and infrastructure provider with the objective towards making it extremely simple for merchants to accept multiple types of traditional and crypto asset payment methods. GoCrypto works for bricks and mortar retail locations just as smoothly as it does for online shops, and they operate in 70 countries internationally, at over 100,000 locations.

What is GoCrypto (GOC)?

In the interview, Justin Sun analyzed the current situation of the cryptocurrency market, revealed Huobi’s procedure for listing new memecoins, and explained why the crypto market has grown too big for any single exchange to serve it properly.

A new narrative in the industry is gaining traction, and the cryptocurrency market has shown clear signs of recovery.

Last year in 2022, was the year crypto came crashing down to Earth, with a string of incidents such as the collapses of Terra and FTX, plunging investor confidence.

After a promising first quarter in 2023, the cryptocurrency industry did not continue its strong momentum and entered a consolidation phase after April. Some believe that the bear market drags on, while others see it as a temporary market correction.

“I think the market has recovered a lot since six months ago,” said Justin Sun. “Six months ago, we had FTX, Celsius, Genesis, DCG, it seemed like all companies went bankrupt, or had this kind of bad crisis. But after six months, I think we have recovered from the bottom. Right now, I think we are still suffering from some of the impact six months ago. For example, recently, Celsius withdrew a very large amount of Ethereum (ETH) from the market, and we also see Jump Trading being investigated by regulators. So that’s why I think we probably need another six months to digest what happened six months ago.”

In fact, in response to the collapse of centralized institutions like FTX, centralized exchanges (CEX) have implemented a standardized reserve-proof system to restore market confidence. Huobi, Binance, OKX, and most major exchanges are releasing their Proof of Reserves reports monthly. Huobi has been collaborating  with Fireblocks, BitGo, and other crypto custody providers to offer self-custody wallets to its traders and enhance its transparency.

According to Justin Sun, thanks to the current market value being so low and the emergence of a new narrative, the cryptocurrency market could regain market strength and recover user confidence.

“I think blue chip tokens, coins, or business, have a very good valuation. Furthermore, during this stage where a new narrative is urgently needed to ignite the market. Innovations such as meme coins, the Ethereum Shanghai upgrade, and BRC-20 tokens continue to emerge. We can always keep the market excited about the things happening in our industry.” Justin summarized. “Even today, U.S. regulations are probably a bit backward, but we have seen places like Hong Kong, Dubai, and other areas, starting to take off. I believe for the next 6-12 months, crypto will still grow steadily. So I have full confidence in it.”

Huobi is having a breakthrough moment as meme coins are gaining popularity

Over the past month, meme coins have once again become a top trend in the cryptocurrency market. For cryptocurrency trading platforms, being cautious of the fear of missing out (FOMO) is something they need to consider.

Huobi has always been at the forefront of listing meme coins. According to data from the Huobi app, during this current meme craze, Huobi has successively listed multiple meme coins such as PEPE, LADYS, TURBO, AIDOGE, and BOB, surpassing other exchanges like Binance.

It is reported that Binance has only listed one token, PEPE, at the tail end of the meme hype. Justin Sun emphasized that Binance’s listing threshold, which sets a market capitalization requirement of over $100 million or even $1 billion for token candidates, creates substantial opportunities for other exchanges to grow and thrive.

“The crypto market is a very big market. So one exchange can’t cover everything. Different exchanges have different roles for covering different aspects of the market. I don’t believe there is going to be one giant exchange that dominates every aspect of crypto,” Justin added.

Justin Sun unveiled that to garner long-time attention, Huobi has established its unique standards for listing meme coins. Amongst the standards, the top two are traffic and community. “Everyone in the community wants to trade this meme coin. This is very important,” Justin pointed out. Reports find that Huobi has invested a large amount  of resources in monitoring the trading volume, traffic, social network engagement, and community feedback related to meme coins, and even developed a methodology to efficiently track and analyze this data.

According to the data, the trading volume of Huobi has been  growing consistently  in the first half of 2023. Justin believes the meme coin narrative has contributed a significant amount of revenue to the Huobi exchange. “Meme coins have improved the overall condition of markets and have become a significant source of revenue for Huobi. Right now, I think among the top ten most tradable assets, at least four of them are meme coins,” Justin noted.

As is widely known, Justin Sun has shown a strong interest in meme coins as well. In a tweet, he expressed his decision to begin actively trading meme coins and promising projects through his public address. Justin also emphasized in the interview that equal opportunity, decentralization, IP, and being funny are the most attractive factors of meme coins. “These are  also some standards I check with meme coins. I will make my investment decision based on those characters.”

Huobi strategically ensures compliance in the face of global regulations

When discussing the current regulatory landscape, Justin Sun expressed that the cryptocurrency market in the United States has long been enduring a lack of a clear regulatory framework, coupled with a deteriorating macro environment. Due to these unfriendly facts, the U.S. is losing out on a number of Web3 firms. Cryptocurrency exchange Bittrex ceased all operations in the United States as of April 30. Coinbase plans to migrate some of its businesses outside the country  and Binance abandoned the acquisition of Voyager.

“We will start to see a trend that more and more crypto companies will exit from the United States because of the unclear regulatory environment. But from an overall perspective, I see crypto will gain momentum in terms of global regulation. For example, the Hong Kong government has started  to offer crypto frameworks and licenses that allow crypto exchanges to operate in Hong Kong. And also we see in Dubai, there are lots of policies that have been implemented  to encourage crypto businesses to move there. So that’s why I believe that even though we may lose some headway in the United States, we can still get a place globally. So that’s why I’m still optimistic about the overall framework globally,” Justin analyzed.

Despite regional differences in cryptocurrency regulations, Huobi has always prioritized compliance and seeking long-term stable development.

According to open information, the Securities and Futures Commission of Hong Kong has recently released Guidelines for Virtual Asset Trading Platform Operators. The guidelines aim to regulate virtual asset trading platform operators, which came into effect on June 1, and allow retail investors to trade virtual or digital assets. Huobi is reported to be applying for a license for virtual asset trading in Hong Kong and plans to establish a new exchange: Huobi Hong Kong. After June 1, Huobi will have an 18-month grace period to operate the exchange in Hong Kong. During the next 18 months, Huobi may obtain approval from the Hong Kong SAR government at any time to operate  within the region.

“More and more crypto businesses will start to move to Hong Kong,” Justin asserted.

https://cdn.cryptohopper.com/images/news/uploads/1686116221-looking-to-revitalize-huobi-with-meme-coins-justin-sun-s-interview-with-the-block.png

Looking to Revitalize Huobi with Meme Coins: Justin Sun’s Interview with The Block

Source: The Block

Recently, Justin Sun, a member of the Huobi Advisory Board and the founder of TRON, was interviewed by Frank Chaparro, the director of news at The Block, a renowned blockchain media outlet on its weekly cryptocurrency podcast: The Scoop. Following the podcast, an article titled “Justin Sun wants to revitalize Huobi with memecoins” was published.

Looking to Revitalize Huobi with Meme Coins: Justin Sun’s Interview with The Block - Cryptohopper

1) [Download Trust Wallet here](https://share.trustwallet.com/H6U8pDHOMab). If you already have Trust Wallet, make sure your app is up to date.

2) Complete [basic setup of a multi-coin wallet](https://community.trustwallet.com/t/how-to-create-a-multi-coin-wallet/41). Remember to save your backup phrases.

3) Go to your Smart Chain wallet and press receive to find your address.

4) Deposit BEP20 assets to your wallet. The easiest way to do this is with Binance. Choose an asset on Binance that supports BEP20 withdrawals and withdraw to your Trust Wallet Binance Smart Chain address. Keep in mind that BNB is required to make any transactions on Binance Smart Chain.

![](https://static.cryptohopper.com/images/news/uploads/1604064223-how-to-set-up-and-use-trust-wallet-for-binance-smart-chain-1.png)

5) That’s it! You’re ready to start using Binance Smart Chain.

6) Once you’ve received a BEP20 token, to view your transaction ID you can click on the transaction, press the share button in the top right and then copy the transaction ID.

![](https://static.cryptohopper.com/images/news/uploads/1604064225-how-to-set-up-and-use-trust-wallet-for-binance-smart-chain-2.png)

Using Binance Smart Chain Dapps

7) For this part, iOS users will need the Dapp browser, which [you can get by following this guide](https://community.trustwallet.com/t/how-to-use-the-dapp-browser-on-ios/69390?ref=JLI1VBLA&utm_source=TrustTwitter&utm_medium=TrustSocial&utm_campaign=TrustSocial). Android users have the Dapp browser by default.

8) Once you’ve topped up your wallet, open the Dapp browser by pressing on the four squares at the bottom of the app.

9) Navigate to a Binance Smart Chain Dapp like PancakeSwap or BurgerSwap.

![](https://static.cryptohopper.com/images/news/uploads/1604064226-how-to-set-up-and-use-trust-wallet-for-binance-smart-chain-3.png)

10) Use the Dapp and have fun!

Here are some more detailed guides on how to interact with Binance Smart Chain Dapps with Trust Wallet:

- [How to send and receive BNB on Smart Chain with Trust Wallet](https://community.trustwallet.com/t/how-to-send-and-receive-bnb-on-smart-chain/67430)

- [How to Earn, Farm and Stake CAKE on PancakeSwap with Trust Wallet](https://community.trustwallet.com/t/how-to-earn-farm-and-stake-cake-on-pancakeswap-with-trust-wallet/70964)

- [Swapping BEP2 to BEP20](https://community.trustwallet.com/t/how-to-swap-twt-bep2-to-twt-bep20/72718)

https://cdn.cryptohopper.com/images/news/uploads/1604064223-how-to-set-up-and-use-trust-wallet-for-binance-smart-chain.png

How to Set Up and Use Trust Wallet for Binance Smart Chain

Here’s how you can get set up on Trust Wallet and start using Binance Smart Chain in just a couple of minutes.

How to Set Up and Use Trust Wallet for Binance Smart Chain - Cryptohopper

Leveraged Tokens (LT) simply eliminate the trade-off and allow users to gain leveraged exposure without worrying about liquidation risk and the nitty-gritty of managing a leveraged position.

While LTs have gained popularity due to this innovative feature, they have been controversial and have caused confusion among users. Historically, LTs have a poor track record of generating long-term returns when compared to traditional margin-leveraged products.

Despite its flaws, LTs continues to attract great demand from users worldwide. As such, Binance has worked towards addressing the crucial problems with existing leveraged tokens and launched the Binance Leveraged Tokens (BLVT).

What are Binance Leveraged Tokens?

Binance Leverage Tokens (BLVTs) are designed to address the issues users faced when trading with traditional Leveraged Tokens. Unlike conventional LTs, BLVTs do not maintain ‘constant’ leverage. Instead, BLVTs maintain a variable target leverage range between 1.5x and 3x.

It is tradable in the Binance Spot Advanced trading interface and tracks the BTC perpetual contracts on Binance Futures. Currently, BLVTs are offered in two types: BTCUP and BTCDOWN.

- BTCUP allows you to generate leveraged gains between 1.5 to 3x when Bitcoin goes up.

- On the other hand, BTCDOWN allows you to generate leveraged gains when Bitcoin goes down.


A BLVT tracks the change in the notional value of the perpetual contract positions and changes in leverage.

Why Trade BLVTs Over LTs?

There are several advantages of BLVTs over traditional LTs, they are Variable leverage, Rebalancing, Liquidity, and Fees.

1\. Variable vs Fixed Leverage

Currently, the most popular LT product promises a constant 3x leverage, which means users can potentially gain triple the returns of its underlying asset. For instance, if BTC appreciates by 5%, the LT should generate a 15% return to users.

Let’s take an example to understand how constant leverage in a Leveraged Token works:

1. Assume both the underlying asset and a 3x LT starts at an equal value of $100 each.

2. On Day 1, the underlying asset goes up by 5%, therefore, the 3x LT goes up by 15%

3. On Day 2, the underlying asset goes down by 5%. Likewise, the LT goes down by 15%.


The resulting P&L of both assets at T+2 will be as follows:

![](https://static.cryptohopper.com/images/news/uploads/1597747603-your-essential-guide-to-binance-leveraged-tokens-1.png)

As you can see, the price of the underlying is almost unchanged, while the 3x LT lost more than 2% from its initial value. The situation shown here is known as volatility drag. Volatility drag is the long-term, detrimental impact that volatility has on the investment. The greater the volatility and the longer the time horizon, the more detrimental the impact of volatility drag tends to be.

Most Leveraged Token users are not aware of the hidden dangers of LTs. In particular, users are not aware of how the ‘constant’ leverage of an LT impacts long-term returns, especially in markets where prices are consolidated for an extended period.

Let’s assume that the earlier example plays out over an extended period (365 trading days), where prices of the underlying remain flat and volatile in the range of +5%/-5%. Let’s take a look at the impact on the value of both securities.

![](https://static.cryptohopper.com/images/news/uploads/1597747604-your-essential-guide-to-binance-leveraged-tokens-2.png)

This example illustrates how volatility drag could impact total returns in a side-ways market. This is devastating to users that bought and held the 3x LT, thinking that it is a perfect reflection of the underlying asset.

To address this issue, BLVTs are designed to reduce the impact of volatility drag by maintaining a variable target leverage, from 1.5x to 3x. BLVTs are less impacted in side-ways markets and tend to perform better with market momentum as prices move in one direction.

2\. Rebalancing

LTs increase or decrease their exposure in the underlying asset to achieve the target leverage for the day. As the price of its underlying asset goes up, it will take on more positions. Likewise, if prices go down, it will reduce positions. This is also known as rebalancing. Traditional LTs need to be rebalanced every day to consistently maintain its objective.

For instance, assume that a 3x LT has an initial Net Asset Value (NAV) of $100 million. In line with its mandate, the LT maintains a total exposure of $300 million in the underlying asset.

![](https://static.cryptohopper.com/images/news/uploads/1597747605-your-essential-guide-to-binance-leveraged-tokens-3.png)

Now, let’s imagine that the underlying asset delivers a 5% return. Here we explain how LTs conduct daily rebalancing:

- As prices increased by 5%, the value of its exposure increased by $15 million to $315 million. As a result, the LT will gain $15 million and its NAV increased to $115 million.

- Since the total exposure is now $315 million and its NAV is $115 million, the LT is no longer at 3x leverage and we can say that the total exposure and NAV are unbalanced to one another.

- At the end of the day, the LT must rebalance by purchasing an additional $30 million worth of exposure, increasing the total exposure to $345 million, or 3x of NAV.


Likewise, as the price of the underlying asset goes down, the LT will decrease its exposure in the underlying and rebalance to maintain its constant 3x leverage.

Essentially, if users hold the position longer than a day, their exposure levels could rise or fall dramatically affecting their original investment.

Traditional LTs are programmed to rebalance at preconfigured times (daily). By being entirely predictable in rebalance, LTs are susceptible to front-running. High-frequency traders and arbitrageurs can predict the incoming trades, and profit by nibbling at the edges.

In contrast, BLVTs are not forced to rebalance unless losses are extreme. In fact, BLVTs will only rebalance the positions as needed to maximize profitability on upswings, and minimize losses to avoid liquidation. This means that ‘normal’ fluctuations in the market will not cause rebalances, and the token value will maintain its correlation with the value of its underlying asset.

3\. Market Liquidity

Binance will be the sole-liquidity provider and issuer of BLVTs, which means users will be able to buy tokens at a fair price, and if the supply of tokens runs out, Binance will inject capital, create more tokens, and sell them on the open market. This ensures that users can transact their tokens efficiently and get their orders filled at an acceptable price.

Additionally, Binance guarantees that BLVTs will be always available for sale or purchase within 10% of the NAV. There will be no 'price gouging' or any kind - no BLVTs will be available for sale on the Binance marketplace outside of these strict price limits.

4\. Transaction and Related Fees

Binance Leveraged Tokens offer lower fees as compared to other existing leveraged tokens. BLVTs charge a low daily management fee of 0.01%, with an annualized rate of only 3.5%, whereas the daily management fee of other existing tokens is as high as 0.03%.

Users of BLVTs may choose to exit their positions by selling the token into the Spot market or redeem them at the market value of its NAV. For which, trading or redemption fees will be charged to the user. Users may redeem tokens at any time, although this will generally be more expensive than selling them on the Spot market, and is not recommended during normal trading times.

There are three types of fees related to BLVTs: Trading fees, Redemption fees, and Daily management fees.

Fees

Description

Trading Fees

Trading fees are charged when buying or selling tokens in the spot market, and the fee schedule is identical to spot trading.

Redemption Fees

Redemption fees are charged when users choose to redeem tokens, which is currently set at 0.1% each redemption.

Management Fees

A daily management fee of 0.01% or so depending on the token will be charged and reflected directly in the NAV.

Additionally, users must note that the underlying leveraged positions of BLVTs carry a funding fee. These fees are paid (or paid to) the underlying fund based on the funding rate and reflected directly in the net asset value. Binance takes no fees for funding rate transfers; these are directly between traders.

In Summary

The innovations of BLVTs are designed to tackle the controversial issues of traditional Leveraged Tokens, thus, protecting users from NAV erosion caused by constant rebalancing.

In general, Leveraged tokens are not the substitute for holding assets in the spot market, and that applies to BLVT as well. However, if users predict market moves correctly, they will generally make money by trading BLVTs. It offers many viable alternatives for amplifying gains, putting less trading capital at risk, and even profiting with strong market momentum.

https://cdn.cryptohopper.com/images/news/uploads/1597311607-your-essential-guide-to-binance-leveraged-tokens.png

Your Essential Guide To Binance Leveraged Tokens

Binance has worked towards addressing the crucial problems with existing leveraged tokens and launched the Binance Leveraged Tokens (BLVT).

Your Essential Guide To Binance Leveraged Tokens - Cryptohopper

While we at Binance advocate for everyone to buy crypto, we understand that you sometimes need to sell crypto because you might need cash. And as the world’s largest crypto exchange, trusted by millions of users, we offer you some of the best methods for selling Bitcoin at the rate that’s most favorable to you. Besides, our 24/7 [Customer Support team](https://www.binance.com/en/support-center?ref=P6CD65KX) is always ready to help you if there are problems with your transaction.

But First: Explore Other Non-Selling Alternatives.

With crypto becoming more prominent day by day, there are a lot of ways for you to pay for your transactions using the crypto you have. Ask yourself the following questions:

“Will I sell Bitcoin into cash to protect myself from the price fluctuations?”

If yes, then don’t sell immediately. Explore converting your crypto into [stablecoins such as BUSD](https://www.binance.com/en/blog/421499824684900886/?ref=P6CD65KX). Using stablecoins protects your cryptos' fiat valuation without needing to cash out and incurring fees in the process.

“Is there a way for me to pay for my transactions using crypto?”

If yes, then we suggest opting for those methods. Most of the time, opting for crypto payments can end up costing you less than going through the hassle of converting crypto into fiat.

One great way to use crypto to pay for your expenses is the [Binance Card](https://www.binance.com/en/cards?ref=P6CD65KX), which allows you to use the crypto on your Binance account to pay for your bills anywhere in the world. The card is now available in many countries in Europe, with more areas to follow soon. Get one now, and you may not need to cash out for long.

Now, if after those questions, you still need to convert crypto into your local currency, then we’re here to help you regardless.

[Sell Bitcoin into Cash on Binance’s Buy and Sell Crypto Page](https://www.binance.com/en/buy-sell-crypto?type=SELL&amount&ref=41606034?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=fiat&utm_campaign=en-sell-crypto)

For a streamlined manner of selling Bitcoin and turning that into cash, the Binance Cash Gateway offers a simplified and secure way for you to directly convert BTC into USD, EUR, and other currencies you may need at the moment.

[![](https://static.cryptohopper.com/images/news/uploads/1612796024-how-to-sell-your-bitcoin-into-cash-on-binance-2021-update-1.png)](https://www.binance.com/en/buy-sell-crypto?type=SELL&amount&ref=41606034?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=fiat&utm_campaign=en-sell-crypto)

[Convert Bitcoin into Cash with P2P Trading](https://p2p.binance.com/?ref=VJ9G6UC4?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=p2p&utm_campaign=en-register)

Sell Bitcoin directly to other Binance users to exchange them for your local fiat currency. Browse a [variety of Bitcoin listings](https://c2c.binance.com/en/trade/buy/BTC) to shop for the best offers on Bitcoin from other users. To place an order, you must first place your Bitcoin (or other cryptocurrencies) into the P2P wallet portion of your account.

Trade Your Bitcoin for Fiat and Withdraw Them From Your Account

Over the past few months, we’ve launched support for the storage of fiat currencies like Euro (EUR), Brazilian reais (BRL), Australian dollar (AUD), British pound (GBP), and the Turkish lira (TRY) on your Binance account. If you need to sell your Bitcoin into any of the following supported fiat currencies, all you need to do is to sell Bitcoin in the corresponding trading pair, then withdraw the fiat currency you earned from that transaction.

[Use the Convert and OTC Portal to Sell Bitcoin](https://otc.binance.com/en?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=otc&utm_campaign=en-otc)

The newly launched Convert and OTC Portal allows you to convert the BTC you have on your account into select fiat currencies that the portal supports. While this platform is available for large-scale transactions, you can get access to friendlier rates for your deal than what’s on the open market through this platform.

Use Our Fiat-to-Crypto Partners to Sell Bitcoin into Cash

Depending on where you are in the world, Binance can offer you many options on where to sell Bitcoin into cash

### [Binance.US](https://www.binance.us/?ref=35014894) \- Convert Bitcoin into US dollars (USD)

### [Binance.SG](https://www.binance.sg/)\- Convert Bitcoin into Singapore dollars (SGD)

### [Binance.IN](https://www.binance.com/en-IN?ref=P6CD65KX) \- Convert Bitcoin to Indian Rupees (INR)

[Binance.BR](https://www.binance.com/pt-BR?ref=P6CD65KX) - Convert Bitcoin to Brazilian Real (BRL)

Note: Each of these platforms has its own registration processes.

[![](https://static.cryptohopper.com/images/news/uploads/1612796025-how-to-sell-your-bitcoin-into-cash-on-binance-2021-update-2.png)](https://www.binance.com/en/download?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=app&utm_campaign=en-binance-app)

https://cdn.cryptohopper.com/images/news/uploads/1612796022-how-to-sell-your-bitcoin-into-cash-on-binance-2021-update.png

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)

Following our guide on how to buy Bitcoin, we now provide you with various available options on how to convert BTC into fiat currency on Binance and our partner platforms. (This blog has been updated as of February 2021.)

How to Sell Your Bitcoin Into Cash on Binance (2021 Update) - Cryptohopper

Grid trading is when orders are placed above and below a set price, creating a grid of orders at incrementally increasing and decreasing prices. In this way, it constructs a trading grid. For example, a trader could place buy-orders at every $1,000 below the market price of Bitcoin while also placing sell-orders at every $1,000 above Bitcoin’s market price. This takes advantage of ranging conditions.

Grid trading performs the best in volatile and sideways markets when prices fluctuate in a given range. This technique attempts to make profits on small price changes. The more grids you include, the greater the frequency of trades will be. However, it comes with an expense as the profit you make from each order is lower.

Thus, it is a tradeoff between making small profits from many trades, versus a strategy with lower frequency but generates a bigger profit per order.

Let’s examine how it works.

Suppose you expect Bitcoin to hover in a price range between $50,000 to $60,000 in the next 24-hours. In this case, you could set up a grid trading system to trade within this predicted range.

On the grid trading panel, you could set parameters of the strategy, including:

- The upper and lower boundaries of the price range,

- The number of orders to be placed within the configured price range,

- The width between each buy- and sell-limit order.


![](https://static.cryptohopper.com/images/news/uploads/1615541741-what-is-grid-trading-a-crypto-futures-guide-1.png)

In this scenario, as the price of Bitcoin falls towards $55,000, the grid trading bot will accumulate buy positions on the way down at a lower price than the market. As prices recover, the bot will sell on the way up at a higher price than the market. This strategy essentially attempts to profit from price reversions.

[![](https://static.cryptohopper.com/images/news/uploads/1615541742-what-is-grid-trading-a-crypto-futures-guide-2.png)](https://accounts.binance.com/en/register?ref=&source=futures&return_to=aHR0cHM6Ly93d3cuYmluYW5jZS5jb20vZW4vZnV0dXJlcw%3D%3D&utm_source=internal&utm_medium=blog&utm_campaign=grid_trading_post)

Set-up Your First Grid Trading Strategy

The grid trading bot systematically executes buy- and sell-limit orders based on the user’s parameters. Here’s how you can set-up your first grid trading bot.

First, launch your grid trading panel by clicking on the Grid Trading tab located on the top right-hand corner of the Binance Futures trading interface.

![](https://static.cryptohopper.com/images/news/uploads/1615541742-what-is-grid-trading-a-crypto-futures-guide-3.png)

The first parameter that you must select is the contract on which the trading bot will be deployed. In this example, we will be using BTCUSDT perpetual contract.

![](https://static.cryptohopper.com/images/news/uploads/1615541743-what-is-grid-trading-a-crypto-futures-guide-4.png)

Next, determine the type of margin for the grid trading position: Isolated or Cross margin modes. In an isolated margin mode, the margin is independent in each trading pair. Meanwhile, the margin is shared between all trading pairs in the futures account for cross margin mode.

After that, select your desired leverage amount. Leverage magnifies both gains and losses. With leverage, you can magnify relatively small price movements to potentially create profits that justify your time and effort. But do bear in mind that leverage is a double-edged sword, and you must use it prudently.

![](https://static.cryptohopper.com/images/news/uploads/1615541744-what-is-grid-trading-a-crypto-futures-guide-5.png)

The lower and upper price boundaries are the two most essential inputs you must determine before launching the grid trading bot. This determines the range within which your limit orders will be placed. The lowest boundary will be your last buy-limit order, while the highest boundary line will be your last sell-limit order.

Next, you choose from two predefined modes: The arithmetic mode constructs each grid with an equal price difference, while the geometric mode constructs each grid with an equal price ratio difference. Remember to set the number of grids; this will determine the number of orders populated within your pre-determined grid range.

![](https://static.cryptohopper.com/images/news/uploads/1615541745-what-is-grid-trading-a-crypto-futures-guide-6.png)

Lastly, assign the initial margin of the position. The system will calculate your Initial Margin value based on the number of grids, leverage, and the strategy’s price range.

Note that the denser the grid, the greater the corresponding initial margin.

Please ensure that your available balance and maintenance margin is higher than the initial margin to avoid liquidation. And finally, click Create to place the grid order.

[![](https://static.cryptohopper.com/images/news/uploads/1615541746-what-is-grid-trading-a-crypto-futures-guide-7.png)](https://accounts.binance.com/en/register?ref=&source=futures&return_to=aHR0cHM6Ly93d3cuYmluYW5jZS5jb20vZW4vZnV0dXJlcw%3D%3D&utm_source=internal&utm_medium=blog&utm_campaign=grid_trading_post)

Advanced Features

The grid trading bot also comes with enhanced functions that enable you to better manage your positions and risk. One of which is the trigger price. The Trigger price is a predetermined price level at which the grid trading bot will be activated. This allows you to dictate when the system will be active when market conditions meet your criteria.

When a grid trade is triggered, the system divides the asset price range into several grid levels according to your parameters and sets pending orders for each price level. When the asset’s price falls, a buy order is executed, and a sell-order is placed immediately at a high price. When an asset’s price rises, a buy-order is placed directly at a lower price as soon as a sell order is executed. This strategy sets you up to buy low and sell high and allows you to make profits in volatile market conditions.

Additionally, you can set a stop-loss for your grid positions. Once the asset’s price crosses below or above the stop loss range, your entire grid position will be closed. This feature protects your position from incurring outsized losses when the market behaves unfavorably.

To monitor trading activity, click the Active Grid Tab to find grid trading details.

Lastly, click Terminate to end the grid trading system.

Benefits of Grid Trading

The main advantage of grid trading is that it allows you to trade cryptocurrencies systematically without forecasting the market direction. In ranging markets, grid trading tends to be more effective, but the question is, will it be applicable when prices are trending?

Even in trending markets, volatility continues to exist, especially in short timeframes where prices fluctuate rapidly due to a surge in trading activity. Grid trading benefits from small price changes and allows you to capitalize on increased market volatility. It is also convenient as it eliminates the need to place orders and monitor real-time market movements manually.

When grid trading, you are essentially a liquidity provider to the exchange. By placing multiple buy- and sell-limit orders across the order-book, you are increasing market liquidity; this is favorable to a cryptocurrency exchange.

As a liquidity provider, you will pay “maker” fees, which is usually cheaper than “taker” fees. Therefore, it lowers your overall transaction costs.

Grid trading always sets you up to buy at prices lower than the market or sell at prices higher than the market. Thus, when markets suffer from large price swings (5% up, then 10% down, etc.), grid trading enables you to take advantage of these spikes by providing liquidity with a grid trading bot to transform them into a tidy profit.

Grid Trading Tips

Determining a reasonable price range is the key to ensure your strategy’s profitability. This means that you need to be extremely selective on market conditions suitable for your strategy to avoid being on the wrong side of a trending market.

Importantly, you must ensure that proper risk management measures are in place. Therefore, you must determine a suitable leverage ratio and set appropriate take-profit and stop-loss orders to avoid losses caused by market fluctuations. For example, if a sell order is placed, a stop loss should be above the top of the price range, and if a buy order is placed, a stop loss should be below the bottom of the range.

![](https://static.cryptohopper.com/images/news/uploads/1615541747-what-is-grid-trading-a-crypto-futures-guide-8.png)

Lastly, ensure that your grid trading parameters are compatible with the prevailing market conditions. Especially in range-bound markets, limits orders placed out of range are unlikely to get filled and, as such, causing missed opportunity. The grid trading parameters can be adjusted in real-time according to the prevailing market conditions.

Grid trading is ideal for novices who want to trade in a systematic approach. Don’t miss the opportunity to capitalize on market volatility. Grid trading is available on USDT-margined futures. Explore it today!

[![](https://static.cryptohopper.com/images/news/uploads/1615541748-what-is-grid-trading-a-crypto-futures-guide-9.jpg)](https://accounts.binance.com/en/register?ref=&source=futures&return_to=aHR0cHM6Ly93d3cuYmluYW5jZS5jb20vZW4vZnV0dXJlcw%3D%3D&utm_source=internal&utm_medium=blog&utm_campaign=grid_trading_post)

https://cdn.cryptohopper.com/images/news/uploads/1615541739-what-is-grid-trading-a-crypto-futures-guide.png

What is Grid Trading? (A Crypto-Futures Guide)

Grid trading is a robot that automates the buying and selling of futures contracts.

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How to Set Up and Use Trust Wallet for Binance Smart Chain

Your Essential Guide To Binance Leveraged Tokens

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)

What is Grid Trading? (A Crypto-Futures Guide)

Start trading with Cryptohopper for free!

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Deposit and Withdrawal Services of eCash(XEC) will be Temporarily Closed

Automateyourtrading!

How to Set Up and Use Trust Wallet for Binance Smart Chain

Your Essential Guide To Binance Leveraged Tokens

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)

What is Grid Trading? (A Crypto-Futures Guide)

Start trading with Cryptohopper for free!

Free to use - no credit card required

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