The gaming market has seen impressive growth over the last few years and is still set for more expansion. According to a 2021 report, the gaming market’s valuation for the year hit $198.4 billion. The same report states that the market will register a compound annual growth rate (CAGR) of 8.94% from 2022 to 2027. By 2027, the valuation could jump 71.3% to $339.95 billion.
Several factors contribute to the gaming market’s popularity, attracting more people to the sector. Game developers are continually improving options and general gameplay, a factor that keeps existing gamers interested enough to stay. In addition to improved features, there is also increased advancement in technology.
The introduction of blockchain technology to the gaming sector is easily the market’s most significant advancement. Apart from the immutability and security of the gaming infrastructure and assets stored, blockchain also provides players with an opportunity to earn while enjoying their gameplay. Platforms like Colizeum are taking this further by stretching blockchain gameplay features past earning rewards.
Colizeum is an ecosystem bridging the gap between the blockchain and traditional gaming worlds. It is a play-to-earn platform that connects several games and related applications from multiple developers, providing a shared marketplace for developers and gamers alike.
Colizeum continuously closes the traditional and blockchain gaming gap through its Colizeum Software Development Kit (SDK). Conventional game developers can use the Colizeum SDK to effortlessly build blockchain games without the expected technicalities from decentralized applications. The kit also provides a cost-effective way for creators to design and publish games since there is no need for blockchain developer teams.
Why Colizeum?
There are several features the Colizeum ecosystem offers the gaming public. In addition to the ease of creating exciting play-to-earn games, here are a few points to note:
Earnings for All: The Colizeum ecosystem maintains an equal focus on gamer and developer earnings. As players accumulate rewards by participating in their favorite play-to-earn games, developers also earn from gamers and the entire Colizeum community.
In-Game NFTs: Colizeum supports low-cost NFT minting while checking other related boxes, including demand programming and multilayering.
Tournaments-as-a-Service: The Colizeum SDK allows developers to create multiplayer games in different modes and designs. Depending on game specifics, players can enjoy tournaments and earn by winning or simply participating.
Colizeum is a fully-decentralized, anonymous, on-chain, and community-focused ecosystem. The platform also features an Attention Marketplace – a tokenized product that allows the direct monetization of gamers’ attention. Instead of going through Ad Exchanges that charge excessive fees and still keep a large portion of generated revenues, the Attention Marketplace enables transparent user acquisition and monetization via $ZEUM staking. Colizeum already has an exciting list of partners, including the Israeli Blockchain Association, IHODL, and Cex.io.
Benefits to Game Developers
The SDK provides quick and inexpensive game development that can shorten developer timelines by up to 1 year
Creators can introduce a play-to-earn feature to any mobile game, attracting more players and allowing gamers to earn during gameplay
Colizeum is a cross-chain and cross-platform ecosystem that enables gamers and developers to enjoy the best of multiple games regardless of their host platform
In-game assets can be easily converted to NFTs
Since there are no middlemen on the platform, all processes are cheaper and faster
Benefits to Gamers
Colizeum allows players to use one token across all games hosted in the ecosystem
In-game assets are tradeable as NFTs. This will enable players to earn more in addition to direct gameplay. Trading NFTs also serves as passive income for gamers
Enjoy earnings from any of the games hosted by Colizeum
Tokenomics
The Colizeum ecosystem has a total supply of 1 billion $ZEUM tokens available for different purposes. The seed round featured 6% or 60 million tokens, while 13% or 130 million tokens were available at the private round – both with 18-month vesting periods. There also is another 19% allocated to the Colizeum team, 5% to the DAO fund, 15% for strategic partnerships, and 8.650% for its in-game reward program. As a community-focused platform, Colizeum also allotted 10% (100 million tokens) to community incentives.
Colizeum is set to be one of the largest play-to-earn platforms in the blockchain sector as it leverages flexibility and interoperability. Creators will be able to develop games that easily interact with each other, thereby adding to Colizeum’s credibility as the go-to play-to-earn host platform. Furthermore, the earning opportunities available to players across all games will attract more users and also appeal to game developers.
Play-to-Earn experienced a massive wave of adoption during 2021, as crypto-friendly gamers jumped on the opportunity to earn money while playing games. P2E games such as Axie Infinity, Star Atlas, and others saw a dramatic increase in user and revenue growth. However, after the initial hype wave over P2E games settled, what was left was a realization that many of these games lacked truly engaging gameplay, social features, and sustainable tokenomics.
Fast forward to late 2021/early 2022, we witnessed a significant pivot in the blockchain gaming space: Move-to-Earn. M2E has taken the world by storm, with numerous projects popping up and their valuations skyrocketing. Among the younger generations, there is a trend towards self-care and maintaining a more healthy lifestyle as we continuously get reminded of just how much time we end up spending indoors. Covid lockdowns took this lifestyle to the extreme and forced everyone to spend time at home longer than many felt comfortable. Now there is a thirst for a more active, healthier life.
P2E games have had (and continue to have) a good run, but M2E has managed to capture the interest of not only gamers, but also those blockchain enthusiasts who might not be fully on board with just spending time tapping away at their phone screen to earn their P2E tokens. However, every project comes with its own shortcomings. Let’s take a look at these shortcomings and how an emerging project – FitEvo has transformed its platform amidst this trend with a new edge.
With popular M2E games such as STEPN, Genopets, and STEP, you’ll find that they share a common gameplay model in which the user acquires an in-game asset, be it a sneaker or a pet animal, and upgrades it further as they keep on exercising.
But these features on their own are not enough to make an M2E game successful. The focus should be just as much on the social aspects and community engagement opportunities around a user’s physical activities, as it is on the earning and NFT upgrading experiences. And many of the games in this space seem to have forgotten what the most popular traditional social fitness apps such as Strava, FitBit, and MyFitnessPal have already done in order to expand their user base, and keep it engaged.
Strava, one of the pioneers in the social fitness app space, has achieved an enormous global user adoption, boasting nearly 100 million users. Much of this growth can be attributed to the app offering not only a feed of activities of their friends, but also other social features that are geography-centric and community engagement focused.
This precedent for a successful M2E game is exactly the reason why FitEvo is so appealing in terms of fundamentals. FitEvo, an M2E dragon breeding NFT game, has the makings of an incredibly successful blockchain-based game, as they have incorporated many of the social features that people know and love.
FitEvo: Focusing on the Interaction Between Individuals
FitEvo aims to engage the masses through a powerful combination of NFT dragon breeding (evolving together with a dragon companion), and social features that gamify physical activity and human competitiveness, and bring friends and communities closer together.
An engaging and fun dragon breeding game, FitEvo has been inspired by the greats, like Tamagotchi and Pokemon, taking it to the next level by syncing the user’s movements with the development of their very own dragon. In FitEvo, the dragon co-evolves with the user, creating a bond between the two. The hatching of eggs, breeding and evolving of dragons, will be intimately linked to the physical movements of their masters.
And here is where FitEvo will really shine – the social and gamification features. For those familiar with the M2E STEP game, FitEvo will be like a new and improved Step 2.0, incorporating all the crucial engagement mechanisms that have made traditional social fitness apps so popular. If you’re one of those who didn’t manage to get in on STEP early on, it might be worth your while to pay close attention to FitEvo.
The multiplayer feature alone will offer an enormous amount of value to the users, FitEvo allows FITamins(as the FitEvo community calls itself) to meet other like-minded and even geographically adjacent individuals by organizing group runs or other group exercises. Anyone who has ever tried getting back in shape with their friends cheering them up or even being right next to them, sweating off their own dietary sins, knows how much it helps to have someone give you motivation and some peer pressure at your lowest moments. This type of community support will be possible, with FITamins helping each other become their better selves.
Of course, what would a fitness app be without some healthy competition? FitEvo will offer many opportunities to challenge others and stimulate their competitive neurons through classical challenges, as well as user-created routes with leaderboards.
In addition to earning $FIVO tokens through movement, FitEvo has made sure that attention is paid to incentivizing more extensive user engagement beyond exercising and dragon breeding. Users will be able to collect Active Points through interactions, referral count, daily sign-ins, missions completed, community contributions, and more. The Points will significantly influence users’ earnings to the upside, so it will be in everyone’s best interest if they try to make the best of their experiences on the FitEvo app – and why shouldn’t they?
Another interesting feature that we are yet to hear more about is the training programme, which will offer inexperienced users the opportunity to learn from the community and follow pre-planned exercise curricula without having to design them themselves.
Incorporating all of these features will be no small feat for FitEvo, and it will be interesting to see how the project progresses forward. With such a clear edge over their competitors defined, it’s now up to the FitEvo team to deliver on these ambitions and rise through the ranks of the M2E space.
ArcadeLand is placing back control in the users’ hands – the gamers, the builders, the visionaries – with the Ultimate Gaming Metaverse. Hundreds of top-quality games, advanced cross-platform avatars with NFT wearables, and a blockchain-optional UI to make ArcadeLand’s platform easy to use. Welcome to the Ultimate Gaming Metaverse!
ArcadeLand is Coming, Why Do You Need It?
ArcadeLand sees the Metaverse as the natural evolution of the web experience in terms of socializing, gaming, exploring, and learning. While it took nearly a decade to catch on, the world-wide-web quickly gained significant market share while antiquated competitors in the areas of postal, television, newspapers, education, entertainment, and gaming either adapted or were left behind by the new companies that embraced this technology.
For example, what happened to Blockbuster when Netflix came along, and this trend is expected to repeat as the newest generation of Web 3.0 technologies emerge. While P2E games and Metaverse platforms are relatively new to the market, there are still significant barriers to overcome before mainstream audiences can fully embrace them.
Blockchain remains a double-edged sword, in the sense that, although it grants the benefits of ownership, security, and the ability to earn great rewards from playing games; it also represents a significant learning curve. This comes with a number of dangers for new users, and it’s largely seen in a detrimental way due to the many negative media headlines of bad actors within the industry.
Many P2E games in development, and currently on the market, require players to be knowledgeable about blockchain technology. This limits their total addressable from the billions worldwide, down to around roughly 400,000 to 500,000 players, the “niche within a niche” of savvy crypto users who still find time to play such games. User acquisition becomes a battle for these games, as they struggle to compete for adequate DAU numbers within a narrow audience.
While the definition of the Metaverse, according to Wikipedia, is: “a network of 3D virtual worlds focused on social connection” the current offerings fall short of this important network aspect. Leading Metaverse platforms suffer from a lack of compatibility and interconnectivity, which are hallmarks of a “true Metaverse”. They create a restrictive environment where games of high quality cannot exist, as developers are forced to build within them using only the tools provided by the platform. Avatars and their accessories are only compatible with their own platform, and users cannot show off their costumes or treasured digital wearables elsewhere. By all measures of what a fun, interconnected Metaverse should be, they simply come up short.
ArcadeLand is creating a platform that will serve game developers, gamers, and the entire community that supports the future of P2E gaming. Arcadeland is connecting games, guilds, studios, and publishers with players from within and beyond the crypto community accelerating this future and removing the obstacles to mass adoption. Increasing the reach of this rapidly growing industry.
ArcadeLand Will Push the Boundaries of Gaming
A Metaverse must be complete in its offering and for its intended purpose, as it is by nature a platform to host many applications. A true Metaverse is an environment for exploration, socialization, and play. Compatibility and interoperability with a total array of ecosystem products and services are paramount, as the sandbox-style of exclusivity limits the variety, replayability, and quality of the games within. ArcadeLand understands this and has shaped the platform accordingly.
ArcadeLand will:
Feature hundreds of top-quality games
Integrate both mainstream and crypto games via SDK
Provide virtual land and a No-Code Builder with UNLIMITED potential
Offer avatars with NFT accessories compatible with thousands of other games
Deliver a holistic and complete gaming ecosystem for users of all types
To address the issue of game quality, ArcadeLand is onboarding top-quality game partners with successful titles from both the mainstream space as well as crypto. The objective is to make the developer’s jobs as easy as possible by providing a comprehensive suite of tools to allow for rapid integration with little labor required.
ArcadeLand can apply its dual-tokenomics model to mainstream games with dynamic rewards and tournament payouts. This allows game owners and users to benefit from an easy to deploy and use P2E model that can be adopted by any type of game.
On the crypto gaming side, ArcadeLand can support the seamless integration of games along with the important token features to allow players to take full advantage of the games and their earning potential.
ArcadeLand provides a safe environment and tools for newcomers with no crypto knowledge to acquire, manage, and sell their NFTs with their built-in wallet and native marketplace. ArcadeLand provides native and easy-to-use interfaces to share updates on social media channels.
Land within ArcadeLand can be developed in over a dozen ways. Builders can create their own shops, entertainment venues, or virtual headquarters for almost any type of business or service. Assets generated via ArcadeLand’s No-Code Builder tools can even be listed and sold on the platform’s marketplace to allow players to monetize their designs and speed up the building process. Games can import all popular file formats of their 3D objects without the need to recreate their designs to use them in their virtual spaces. This expands compatibility and creativity in those who wish to thrive with their plots in the Metaverse.
People love to display their achievements, express their individuality and creative style in real life and virtually. So, what good is clothing you can only wear to one place? ArcadeLand has taken a unique approach by comparison to other existing Metaverses and chose to incorporate one of the most advanced avatar systems on the market.
The tokenized avatar accessories issued are already compatible with 1,750+ other games and that number is increasing weekly. Any costume or wearable created, earned, or purchased in ArcadeLand’s Metaverse will be the players’ to show off in hundreds or thousands of other games on all platforms including AR/VR.
ArcadeLand is taking an inclusive and cooperative approach to bringing in all the best games, partners, and ecosystem-related services needed to create the Ultimate Gaming Metaverse. Whether you’re a gamer, creator, developer, business owner, social butterfly, eSport champion, or some combination of these, you’ll find everything you’re looking for in ArcadeLand.
Start Getting Pump!
To sum up, ArcadeLand is addressing three of the most critical issues halting the widespread adoption of play-to-earn gaming:
High-Quality Games – They have nearly 200 games available and are actively onboarding more weekly
Ease of Use – Their platform is designed for gamers of all walks of life, not just the crypto-savvy.
Broad Compatibility – Arcadeland prioritizes compatibility, from their avatar system to their various ecosystem partners.
Join ArcadeLand’s social media channels below to stay abreast of developments. There’s much more to reveal about how it all works.
About ArcadeLand
ArcadeLand is building the ultimate gaming Metaverse. Its mission is to deliver the most rewarding experiences with the best selection of high-quality games and an ecosystem designed to serve gamers, developers, and the community, to propel the future of gaming.
PrimeXBT is based in the Seychelles and was launched in 2018 as a Bitcoin-based exchange platform offering various products such as leveraged trading in cryptocurrencies, Forex, indices and commodities. Today they are ranked no.24 of all derivatives exchanges with over USD$250 million in daily trade volume according to CoinGecko. They serve clients from over 150 countries and the platform is available in 16 languages: English, Malay, Chinese, German, Spanish, French, Hindi, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Thai, Turkish and Vietnamese. The Exchange was also recently recognised as the Best Bitcoin Platform for Margin Trading at the 2020 ADVFN International Financial Awards. In this review and guide we look at several features of PrimeXBT, our user experiences and give you a step-by-step guide on how to get started.
No KYC required: You only need to provide your email and country of residence to register for an account. No address proof is required.
Customisable trading interface: Users can enable, disable or move various information panels on their trading page. They can also add various widgets such as orders, watchlists or positions etc.
Annotate trading charts: On their Analysis page, you can overlay different trading pairs, insert up to 50 technical indicators, mark and save trading charts for further study.
Up to 1000x leverage: PrimeXBT offers up to 100x leverage for trading cryptocurrencies, stock indices and commodities. For Forex trades, up to 1000x leverage is available. (https://www.air-inc.com/
Wide range of products: PrimeXBT offers cryptocurrency trading, as well as trading indices, Forex and commodities. For fast results, traders can also try out Turbo, one of PrimeXBT’s unique trading features.
Let’s look at some of PrimeXBT’s features in detail.
PrimeXBT offers more than cryptocurrency trading
PrimeXBT offers cryptocurrency trading, as well as trading indices, Forex, and commodities. PrimeXBT supports trading in 5 cryptocurrencies: BTC, ETH, LTC, XRP and EOS; with trading pairs between these cryptocurrencies and USD and BTC only. Unfortunately, the Exchange does not seem to be jumping onto the DeFi train, unlike their competitors. So unless they start listing some DeFi coins and fast, we are concerned they may be overshadowed by more aggressive exchanges.
For Forex, the following 7 foreign currencies can be traded on PrimeXBT: USD, EUR, GBP, AUD, NZD, CAD, CHF and JPY. However the Exchange does also offer trading pairs with other currencies such as SGD, RUB and TRY. Traders can also trade the following 10stock indices: S&P 500, NASDAQ 100, FTSE 100, EURO STOXX 50, CAC 40, NIKKEI 225, DJI, ASX 200, GER30 (DAX30), IBEX 35 and HK-HSI.
Lastly, the Exchange provides commodities trading, this is done entirely digitally through the Exchange and its CFDs without having to physically handle gold bars and oil barrels etc. The following 5 commodities are available for trading on PrimeXBT: Gold, Silver, BRENT, CRUDE and NAT. GAS.
Margin trading is offered by PrimeXBT. The Exchange offers up to 100x leverage for trading cryptocurrencies, stock indices and commodities. For Forex trades, up to 1000x leverage is available. Obviously there are serious risks involved in doing this because if the position goes against what you traded your losses will be correspondingly magnified. Hence margin trading should be for very experienced traders only and even so, extreme caution must always be exercised.
Turbo trading: How to guide
PrimeXBT offers a unique product called Turbo trading, and as the name suggests it is basically trading on turbo mode. All you need to do is predict if a chosen asset’s price will be higher or lower than the current price after a specified period. Both the specified period (which will be between 30 seconds to 15 minutes) and the potential profit ratio will depend on the asset chosen and this will be calculated and displayed to you before you confirm your trade.
Taking the below image as an illustration, I predicted that BTC/USD prices would go up in 10 minutes (i.e. when the chart reaches the circular green arrow). I invested 0.0002 BTC and the potential profit was calculated for me at 0.000013 BTC, or 65% of what I put in if my prediction was correct. However if my prediction was wrong, I would lose the 0.0002 BTC I had put in.
Turbo trading
We think this feature would be very attractive to novice traders, and even advanced traders who something quick and simple for a change. We tried out this feature and enjoyed knowing what the potential outcomes would be before we put in the trade and found ourselves excitedly fixated on the trading screen during the whole period.
Note that PrimeXBT Turbo trading is not available to citizens and residents of the following countries: USA, Canada, United States Minor Outlying Islands, American Samoa, Israel, Japan, Algeria, Ecuador, Iran, North Korea, Sudan, Syria and Crimea.
Supported currencies and payment methods
PrimeXBT only supports BTC deposits. For some locations, you can buy Bitcoin with your credit (Visa or Mastercard) or debit card and deposit this directly to your Exchange wallet. PrimeXBT only accepts payments in USD, EUR and GDP and a minimum purchase of 0.002BTC is required. You will be required to select your location beforehand and the Exchange will let you know if your location supports this feature.
For security reasons, to buy BTC on PrimeXBT you will need to provide the following personal details: email, country of residence and identification document (ID card, driver license or passport). The Exchange will also email you a code to enter at checkout to confirm your email.
PrimeXBT Fees
Deposit and withdrawal fees
PrimeXBT does not charge fees or deposits into your Exchange wallet or for transferring from one wallet to another on your own PrimeXBT account. The Exchange charges 0.0005 BTC for withdrawals.
Trading fees
PrimeXBT charges 2 types of trading fees: a trade fee and overnight financingfee. Trade fees are 0.05% for cryptocurrencies, 0.01% for stock indices and commodities, and 0.001% for Forex.
Overnight financing fees are charged if traders do not open or close their leveraged position within the same trading day (i.e. 0:00 UTC) and it is a percentage of the daily funding rate depending on the liquidity of the underlying asset. Taking BTC/USD for example, the overnight financing fee is 0.04166% of the daily funding rate for both long and short positions.
PrimeXBT has competitive fees compared to other exchanges if you are a casual or small volume trader. However most other exchanges have discounts for high volume traders by way of VIP tiers, or discounts for holders of an exchange’s native token. PrimeXBT does not have such discounts so there is little incentive for users who trade more, especially if other exchanges have comparatively cheaper trading fees for larger trade volumes.
PrimeXBT offers its services to over 150 countries except for citizens and residents from the following locations: USA, Canada, Seychelles and countries currently under economic sanctions by either the United Nations or the European Union.
Security: Is PrimeXBT safe?
PrimeXBT uses numerous security tools and measures. From our user experience, we can see on the front end that the Exchange uses 2-factor authentication (via. Google Authenticator) and sends a confirmation email letting us know we’ve logged in. We do see some additional security features not typically found elsewhere. One such feature is mandatory whitelisting of destination addresses for Bitcoin withdrawals i.e. users can only withdraw their Bitcoin to addresses they have previously whitelisted.
On the back end, PrimeXBT utilises cold storage of digital assets using multi-signature technology, DDOS protection and cryptographic hashing for all passwords and encryption of all other sensitive data, among others. They also conduct full risk checks after every order placement and execution, and regular testing and assessments by their technical team.
We also note that the Exchange currently has a good track record of no hacks or discovered vulnerabilities so far. Nevertheless users should still remain careful and vigilant with their security measures e.g. not leaving all their funds on the Exchange.
We found PrimeXBT to be very open and transparent about themselves and what they do. For example answers to any questions we had about them can be found on their website. Their website and tutorials are a detailed one-stop resource for how to use their platform and their explanations are very clear and well organised. This is very positive and it certainly points to the Exchange being reliable.
How to register for a PrimeXBT account
PrimeXBT claims their registration process only takes 40 seconds and indeed we found it to be very fast and convenient. No KYC procedures were required. To register, simply fill in your email and choose a password.
PrimeXBT registration
The Exchange would then send you an email asking you to confirm your email address. Confirm this and you will be brought back to the main page where you would be asked to select your country of residence. No address proof is required for this step.
Confirm your email and country of residence
Once you have confirmed these details you are all set!
Registration complete!
How to deposit and withdraw cryptocurrencies on PrimeXBT
Deposits
As a Bitcoin-based exchange, PrimeXBT only allows you to deposit Bitcoin. Users can either deposit Bitcoin directly from another cryptocurrency wallet or if their location is supported, purchase Bitcoin with their credit/debit cards.
To deposit Bitcoin from another wallet, click on “Account” on the top bar and “Deposit” on the sidebar. There you will find your Bitcoin wallet address.
Deposit Bitcoin
For some locations, you can buy Bitcoin using your credit (Visa or Mastercard) or debit card. To do this click “Buy Bitcoin”on the Deposits page. You will then be required to input how much Bitcoin you wish to purchase. Confirm this by clicking “Buy”. Please note that PrimeXBT only accepts payment in USD, EUR and GDP and a minimum purchase of 0.002BTC is required.
Buy Bitcoin
You would then be asked to provide your email and country of residence. The email address is so that the Exchange can send you a code to enter at checkout as a security measure. You are required to choose your country of residence because some locations do not support Bitcoin purchases, and the page will instantly let you know if this is the case. If Bitcoin purchases are supported you would be required to provide photographs of your identification document (ID card, driver license or passport) and your payment details.
Provide details for payment
Afterwards you would be required to confirm your purchase and at checkout, enter the code previously sent to your email address. The Bitcoin you purchase would automatically be sent to your Exchange wallet.
We found depositing Bitcoin from another wallet to be very simple. As for buying Bitcoin, the steps were easy to follow but we found it excessive in terms of all the information you need to provide. After all, we are depositing Bitcoin into an account, not withdrawing. We don’t expect to require an ID copy AND a picture of us holding said ID when buying items from other online retailers. So in all honesty, unless you do not use any other exchanges and you are buying Bitcoin for the very first time, we foresee most people would just buy Bitcoin elsewhere and transfer it to the Exchange.
Withdrawals
Withdrawals from PrimeXBT require a few additional steps compared to other exchanges because they have a mandatory whitelist of destination addresses. Note also that the Exchange only supports Bitcoin withdrawals, so any other asset must be converted to Bitcoin first before withdrawing.
To withdraw, go to “Account” on the top bar and “Withdraw” on the sidebar. Select “Add new address” and type in the address you wish to send your Bitcoin to together with a name for this address in the “Comment” field, then click “Add new address”.
Add new address
The Exchange will send you an email asking you to confirm the new Bitcoin withdrawal address. To confirm, click “Confirm new address”.
Confirm new address
Back on the Exchange’s Withdraw page, the new address will show up on the list of destination addresses. Select the address you want to send your Bitcoin to and the amount you wish to send. On the right, you would be able to see details of the send i.e. the destination address, the transfer amount, transfer fee and the actual amount which would be sent. To confirm, click “Submit to withdraw”.
The Exchange’s limitation of only allowing Bitcoin withdrawals can be troublesome since you would need to first convert everything to Bitcoin, which may result in losses if prices fall. We also found the whitelist process to be a bit annoying at first, but as it is for security we consider it a fair tradeoff. It however won’t cause that much inconvenience in the long run if you usually only send Bitcoin to a few specific addresses e.g. your hardware wallet.
Trading on PrimeXBT
One thing we really liked about PrimeXBT is that when you log in to your account for the first time, each page will have a pop up tutorial covering topics such as how to fund your trading account, how to place your first order etc. For a subsequent refresher, you can always click the question mark “?” on the top right hand corner for more tutorial videos. So getting started with trading was relatively easy.
A feature that some traders might like is their one-click or double-click trading feature. This allows you to open and close positions, and cancel orders with literally one click i.e. bypassing the confirmation process. It is a really convenient feature for those who are impatient or need to lock in their positions quickly. On the flip-side you could suffer huge losses if you misclick since it is irreversible.
The main feature of PrimeXBT is its ability to customise. As mentioned above the Exchange lets users customise their trading interface and charts. For the trading interface, you can move, add and remove various widgets e.g. charts, watchlists and orders etc. You can also add new “workspaces” i.e. tabs by clicking “+”. Workspaces can be renamed, and you can add widgets onto them and customise their location.
This feature is very helpful for experienced traders who wants all their necessary information displayed in one place, or even more casual traders who want to customise their trading page so it is similar to other exchanges they may be more familiar with.
Customisable trading interface
PrimeXBT also allows users to customise and annotate trading charts. Users can overlay different trading pairs on top of each other for comparison, e.g. in the below image we put together the charts for BTC/USD and ETH/USD. Users can also write notes, draw lines and choose from up to 50 indicators to put onto the charts etc. There are lots of features which will certainly keep technical analysts very occupied and finally, you can save a picture of your chart for a later date. This is certainly a feature designed by pro traders with other professionals in mind.
Customisable charts
Welcome bonus
PrimeXBT currently has an enticing welcome bonus to encourage more users. New users who deposit more than 0.009 BTC into their trading account within the first 6 hours of registration are entitled to a US$50 trading bonus. The Exchange will automatically deposit the Bitcoin equivalent of this into your trading account.
USD$50 trading bonus for new users
Conclusion: Is PrimeXBT a good exchange?
Here’s some pros and cons of PrimeXBT based on our user experiences.
Pros
Good track record without any hacks so far. The Exchange has additional security features not usually found elsewhere such as mandatory withdrawal address whitelisting.
The Exchange is one of the most open and transparent we have come across. Almost any question we had on the Exchange is answered on their own website.
Customisable trading interface and charts. This feature is likely to be very attractive to seasoned traders.
Cons
Even with the Exchange’s helpful tutorials, there is still a steep learning curve if you want to make use of the many features the Exchange has to offer.
Very limited cryptocurrency support and only Bitcoin deposits and withdrawals are supported.
Requiring photo ID and KYC process just to buy Bitcoin is a bit excessive.
In conclusion, we find PrimeXBT definitely geared towards traders with a bit more experience, particularly those who trade the major cryptocurrencies and other markets such as stocks and commodities on the side. We also find Turbo to be a very novel and interesting feature which we may revisit in the future. The Exchange’s interface is very clear and intuitive, and in any event you can customise it to your needs and preferences. Users will need a bit of time exploring all of the customisation features that PrimeXBT has to offer which may seem overwhelming at first, but is certainly worth it in the long run. With this high level of customisation, we think once users overcome the initial learning curve, they are likely to come back to this exchange time and time again.
SIGN UP TODAY!
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Bybit is a powerful cryptocurrency derivatives exchange suitable for many traders, with products such as Bitcoin Perpetual futures with leverage. The exchange offers the ability to Long or Short cryptocurrency assets, giving traders to profit from both the rise or fall of Bitcoin prices.
Bybit exchange is popular due to social media as it is frequently featured on different YouTube and Social Media Channels. The exchange offers generous signup bonuses and trading bonuses, enticing users to join the exchange for up to $90 in trading credit – but there is a catch. Bybit requires users to trade on the exchange where fees are based on the amount traded – hence trading fees can rack up to thousands of dollars (similar to other crypto derivatives exchanges). In this article we’ll look at what is derivatives tradings and features of Bybit to ultimately answer – is Bybit a good exchange
Key Features
Leveraged Trading
Perpetual futures contract
Trading activities
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What is Derivatives Trading
The core trading product offered by ByBit is cryptocurrency derivatives trading. Derivatives are financial tools that derive value from the underlying product – in this case cryptocurrencies such as Bitcoin. ByBit exchange trades contracts based on the underlying asset instead of the asset themselves – this allows higher leverage and more types of products. Derivative products are by institutions, companies, miners and traders to gain advantage of market conditions. For example, Bitcoin miners who know they will receive Bitcoin in the future may choose to short Bitcoin at current prices to protect themselves from future price volatility.
Derivative products allows traders to speculate on the future value of various digital assets and trade their corresponding futures. This is different from regular trading as there are “shorting” options where traders benefit from an asset falling in price (without initially owning the asset). Traders can also take averaged positions where they can drastically increase their exposure to an asset with 5, 10 or even 50x leverage.
Bybit is currently the 7th most popular derivatives platform by volume. As of the 14th of April, the exchange handles $874 Million USD per day on the platform. This is a huge amount of trade volume as users can easily trade large amounts due to leveraged assets.
Types of Derivatives Products on ByBit:
Futures – Futures is a type of standardized forward contract, a legal agreement to buy or sell an asset at a predetermined price.
Options – Options are a special form of futures contract that gives the holder the right but not the obligation to sell at a future strike price. These are common used to protect against price volatility.
Supported countries
Bybit Services are not available to clients located or residing in the United States, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Antigua or Barbuda.
Bybit Offers and Coupons
Bybit Trading Coupons and Offers
Bybit offers a vast amount of coupons and initial funding offers for new users. This includes a $50 dollar bonus for funding the account, along with offers for following their social media account. The exchange also offers weekly trading rewards for active traders on the exchange.
Bybit Testnet
You can also test transactions on the Bybit Testnet. This allows users who are unfamiliar with features to trade without using real Bitcoin.
Bybit Controversy and Affiliate Programs
Bybit gained notoriety due to users losing money on leveraged trades on the exchange. Leveraged trading is extremely dangerous due to the volatile nature of cryptocurrencies. It is important to remember these advanced trading tools are for advanced users only, and the risks associated with trading must be fully understood.
Frequently Asked Questions (FAQs)
Does Bybit Allow US traders?
The exchange does not allow US Citizens to trade on its platform for regulatory reasons. This rule is enforced by I.P. verification, where traders with a US I.P. address will not be able to trade. It is possible to trade on the exchange without KYC (passport verification) verification.
Does Bybit require KYC?
Currently, Bybit does not require a passport or ID verification to trade on the exchange. There are currently no withdrawal limits. However, not completing the KYC procedures when using a cryptocurrency exchange carries risks. This is because if the exchange is hacked or it collapses, there would be no way of identifying and proving what funds you had there, which would make recovery extremely difficult, if not impossible.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
Unstoppable domains is a new type of internet domain built on Web 3.0. The key feature of unstoppable domains is that it’s censorship-resistant – it is impossible for any single entity to demand the removal of a domain. This is important as we experience more and more censorship on the internet. Ultimately the goal of unstoppable domains is to make the internet censorship resistant and information freely accessible. Instead of relying on centralized services to buy and sell domain names (eg, Namecheap or GoDaddy), Unstoppable domains uses decentralized platforms Ethereum and Zilliqa Blockchain as a neutral 3rd party. This gives registered domains censorship immunity as no government or entity can restrict or remove access to that domain. To further improve on censorship resistance, it’s possible to host the content on the Inter Planetary File System (IPFS) a decentralized hosting service where content cannot be removed.
One of the first uses of Unstoppable Domains is the creation of easy to remember cryptocurrency addresses. One thing that scares people away from cryptocurrency is the address. A long mixture of letters and numbers almost freezes crypto users whenever they want to send or receive their digital wealth. However this can be simplified with Unstoppable Domains into a “.zil” or “.crypto” domain, such as boxmining.zil.
Unstoppable Domains has been working on its technology since 2017. They are software development company utilizing blockchain technology to give power back to the people and to ease the way people and cryptocurrencies interact.
To enhance the interaction, Unstoppable Domains has borrowed some ideas from the internet both at current age and during its early days. For example, during the early days of the internet, users had to cram IP addresses, which were the only way to send messages from one person to the other. Although the system worked, memorizing numbers and periods “.” was just too much.
To overcome the challenge, the IP address was placed behind the scenes and brought in the Domain Name Service (DNS). The DNS system made it simpler since a human-readable address was provided, and in the background, it was tied to the complicated IP address. Therefore, an internet user just typed the name, eg, Facebook.com, and the DNS system, having connected Facebook.com with its IP address, eased the way users saw and interacted with the internet.
Using the same technique, Unstoppable Domains seeks to put the complex cryptocurrency addresses behind a human-readable name. As such, instead of directly sending cryptos to an address, you use the human-readable name.
The concept behind Unstoppable Domains is succinctly explained by its CEO, Mather Gould, “We’ve been crypto enthusiasts since 2012 and have believed that crypto payments were too complex to go mainstream. Just like IP addresses were replaced with DNS system, we believe cryptocurrency addresses will be replaced with human-readable names.”
“.crypto” domain for all crypto addresses?
Recently Unstoppable Domains announced the “.crypto” blockchain agnostic domain. The idea behind this domain is to unify cryptocurrency addresses for Bitcoin, Ethereum, Ziliqa and more.
How to use Unstoppable domains with IPFS
Unstoppable domains added the a new feature to work with uncensorable decentralized file hosting service IPFS. This will allow content to be permanently hosted on the internet with full immunity to government or political interference. IPFS hosts files spread across multiple locations in a decentralized fashion, so even if one server is taken down the content will still be accessible.
Claim protected brand names on Unstoppable Domains
To prevent phishing and domain name stealing, Unstoppable Domains automatically protects brand names like apple.crypto and boxmining.crypto. Only verified identities can claim such domain names via the free claim tool:
One name for all your cryptocurrency wallets?
Unstoppable Domain Management Panel
That’s not all; you will only require one name for all of your wallets. Yes, just one. You see, Unstoppable Domains is looking for ways of driving crypto adoption. One of those ways is to make sending crypto as simple as sending mail.
Therefore, friends can send you Bitcoin, Ether, Litecoin, etc., using a single name. Then, in the background, the technology from Unstoppable Domains routes the different cryptocurrencies to their respective wallets. This even eliminates the need for scanning QR codes since reading them is not 100 percent accurate.
Zilliqa is a scalable smart contract blockchain ecosystem that facilitates the creation of scalable decentralized applications.
However, Zilliqa is only providing a platform for Unstoppable Domains to build their blockchain-focused DNS. This means that the blockchain name service, although built on the Zilliqa platform, supports external cryptos like Ethereum, Bitcoin, Stellar Lumens, etc. It also supports the use of credit cards.
As it is built on the Zilliqa blockchain, the domains will have a .zil extension.
Unstoppable or Censorship-resistant Domains
Apart from helping in the general public easily interact with cryptocurrencies, Unstoppable Domains is keen on providing censorship-resistant domains.
With these domains, the owner of the domain name has complete control of the domain and its contents. Traditional domain assets are stored on your behalf by custodians, for example Google.
However a blockchain domain is stored in your cryptocurrency wallet which only you control. Therefore, no company, law enforcement or even Unstoppable Domains themselves can take it from you.
It does not end there. The information used to register your domain remains private; you can choose not to give any personal information. This means that it is hard to track an individual using the data provided. Also, the content provided on the website cannot be censored by a third party; you are in full control.
Will Unstoppable Domains be Unstoppable?
Unstoppable Domains are setting up for a challenging journey which will see cryptocurrency being adopted by more people. Additionally, with censorship-resistant websites, the control is finally given back to the people.
Unstoppable Domains certainly has the firepower to become unstoppable. They have recently announced that it secured US$4 million in funding in Series A led by Draper Associates and Boost VC. They have also received grants from the Ethereum Foundation and Zilliqa Foundation.
— Unstoppable Domains (@unstoppableweb) May 23, 2019
Unstoppable Domains announces it raised US$4m
In their AMA with CEO Matt Gould on 15 May 2019, Unstoppable Domains revealed their development roadmap for 2019. Over this summer they will be working on fiat un boarding and privacy tools. In fall, the majority of the focus will be websites. (Phentermine)
On the retail side, the auction for the top .zil names will end in Summer 2019. Afterwards, anyone will be able to buy their own .zil name. Looking further, in Fall and Winter 2019, website and browser support is expected to become functional.
Unstoppable Domains’ roadmap for the remainder of 2019
Final Review Verdict
Unstoppable domains delivers a new way to prevent censorship at the domain lever using blockchain technology. Development and adoption is accelerated by the team’s recent $4 Million Dollar Series A raise lead by Draper Associates. This new round of funding gives the team more funds to form partnerships to increase adoption. Currently we’re waiting for more cryptocurrency wallets to accept the .zil addresses – currently MyCrypto and Moon are set to integrate it soon.
