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Gainer Show | Short-Term Short, Making A Profit Of 660,000 Yuan

Gainer Show | Short-Term Short, Making A Profit Of 660,000 Yuan

Recently, 58COIN started the Isolated Margin Model, which offers independent risk calculations against various positions, so I transferred some assets from USDT contract to regular contract. Surprisingly, I caught up with a deep drop after opened the position, and made a small profit. In addition, I heard that 58COIN will launch BNB, HT, and OKB and other native tokens, once BNB listed, I will use this profit as my trading principal.

4. Short BTCUSDT — Making a Profit of 61,000 Yuan

User ID: 大同小毅

You can only make huge profits in the dramatic market, though the oscillation did not make me rich, I earned 60,000 Yuan in this transaction, which is more than one month’s salary for ordinary white-collar workers. Truth is always in the hands of a few people. When everyone believed that BTC can break through 5,400 and rush to 6,000, I opened short against the trend. Currently, the market has not been consolidated yet, it seems that the short-term support level of 5,200 was effective. At this stage, “every market rise is an opportunity to short”.

5. Short EOSUSD — Making a Profit of 30,000 Yuan

User ID: 无言

I am an early broker of 58COIN, and I used the rebated EOS to open positions. Surprisingly, EOS rose sharply last Monday and I thought this was the chance for short, so I opened short 100x EOS order with less than 1,000 EOS. As expected, I earned more than 6,000 EOS.

Users on this list are all investors who seized the opportunity for short-term short-selling. The success of them lies in the strong judgment, careful observation, and reasonable operation, all of which are valuable characteristics in cryptocurrency trading that deserve study.

Tips:

According to the official news of 58COIN, the BNB Regular Contract will be launched on Wednesday (April 24, GMT +8), please stay tuned!

Website: https://ww.58coin.com/

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Published at Wed, 24 Apr 2019 07:35:51 +0000

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South Korea Tightens Grip, But Won’t Ban Bitcoin Trading

It was only a matter of time until authorities pulled the reins in on one of the biggest crypto trading nations in the world. South Korea, which is responsible for as much as 25% of total crypto trading volume, said on Thursday it will impose additional measures to regulate speculation in crypto within the country.

South Korea Will Ban Anonymous Crypto Trading

As previously reported that more regulations are expected, South Korean regulators have confirmed additional measures to curb illegal activities at cryptocurrency exchanges. According to Reuters, the government noted that trading prices of most digital currencies were much higher on South Korean exchanges than they were on exchanges in other countries.

A government spokesperson made the following statement:

The government had warned several times that virtual coins cannot play a role as actual currency and could result in high losses due to excessive volatility.

The first steps will include a ban on opening anonymous crypto trading accounts. Most exchanges require photographic proof of identity anyway, so this regulation is nothing to be concerned about.

Secondly, however, is a more alarming plan to introduce new legislation which will allow regulators to close virtual coin exchanges if required. This measure had been recommended by the justice ministry, according to the statement.

Previously, South Korea had announced a plan to tax capital gains from cryptocurrency trading to tackle what it perceives as the risk of excessive speculation.

Banks Backing Off

As expected, earlier this week, two major banks in South Korea announced that they are closing reward programs, which allow clients to purchase bitcoins with credit card bonus points.

Commercial banks in the country are increasingly preventing the opening of new virtual accounts, which are necessary to trade on South Korean crypto exchanges.

South Korea Bans Bitcoin Futures As Authorities Consider Crypto Income Tax

In addition to Shinhan Bank and KB Kookmin Bank closing rewards programs next month, Woori Bank and Korea Development Bank also announced that they would be closing all virtual accounts provided to exchanges.

It is no surprise that banks in South Korea and elsewhere are pulling back from crypto; the concept essentially goes against their business model. Unfortunately, in this embryonic industry, traders still need to rely on exchanges, many of which, such as Coinbase, have adopted banking-style models of fees and commissions. Only when crypto trading is truly decentralized and peer-to-peer will the masses start to benefit more than the banks and exchanges.

Will the Korean clampdown affect the markets? Add your thoughts to the comments below.

Images courtesy of Pixabay, PublicDomainPictures, and Bitcoinist archives.

The post South Korea Tightens Grip, But Won’t Ban Bitcoin Trading appeared first on Bitcoinist.com.

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