Getting Started: Trading on Coinsquare.io

coinsquare dashboard interface
coinsquare dashboard interface
coinsquare dashboard interface

Getting started trading on Coinsquare.io is pretty easy. They’re one of only a few Canadian exchanges that allow you to on-ramp your fiat currency into cryptocurrency. Their interface is clean and tidy. Their Verification process is not onerous. They allow Limit trades as well as market trades. They have 2 Factor authorization through Google Authenticator. These are sort of minimum standard and boring criteria! Yawn! But it’s nice to have support in the Canadian Bitcoin ecosystem and they have a few unique tricks up their sleeve as well.

The first is their Coinsquare Wealth option. This is enabled with a purchase of $25,000 or over, with 2 higher tiers when deposits reach a certain level. Interestingly in December 2017, this was only a buy of about 1 Bitcoin. At the $100,000 level, CoinSquare Diamond, there is dedicated support concierge and 0% wire fee to deposit. Cutting down on fees is the only guaranteed way to improve your returns. What remains to be seen is for how long $100,000 in cryptocurrency is deemed to be “wealth” or if it becomes more a norm for a store of value.

Coinsquare Wealth options

 

The next key differentiation for me is that they also sell FIAT  Canadian Dollars CAD, United States Dollars USD, Great British Pounds GBP, and Australian Dollars AUD, as well as Bullion, gold, and silver. For traditional Foreign Exchange Forex traders, this might represent a more efficient system for holding multiple denominations of currency and precious metals, in addition to their cryptocurrency. This can reduce complexity for taxation of capital gains and might reduce the effort needed to onramp into Cryptocurrency for traditional holders of diverse stores of value. It will reduce account or password “fatigue” whereby users need more accounts and passwords to more portals than ever before.

Cryptocurrency and traditional assets available on CoinSquare.io

Even Dogecoin is available for your kids to play with, though it hit a market cap of over $2 Billion USD in January 2018. Meme-tastic!

Check out this Getting Started post on Binance for trading alt coins from last week by clicking here.

As always, if you found this information helpful, please consider supporting the Blog by signing up to Coinsquare.io with my referral code D7EBCB264. coinsquare.io/register?r=D7EBCB264

Getting Started: Trading Alts on Binance

Binance Cryptocurrency trading platform
Binance Cryptocurrency trading platform

Disclaimer:  Buying Cryptocurrency is risky, selling Cryptocurrency is risky. Trading is risky. Not trading is risky. This is not financial advice. Don’t wager more than you’re prepared to lose. If you’re experiencing problematic behavior financially seek professional help.

Binance, like Binary Finance, Bitcoin Finance, or just plain Finance with a B,  is a great Cryptocurrency coin exchange site hosted in Korea, run by Chinese entrepreneurs. It’s been claimed that they are the fastest Startup Unicorn to reach Profitability. A Unicorn defined as a startup with a market capitalization or valuation of over one Billion dollars, $1,000,000,000. That’s a lot of zeros! While Bitcoin exchanges are under constant scrutiny in China and threats of regulation appear constantly in the FUD (Fear, Uncertainty, and Doubt), as far as I know, Binance gets around any restriction by not offering any onramp or offramp to fiat currency. You can deposit BTC Bitcoin, ETH Ethereum, USDT Tether, and Binance’s own coin BNB. BNB can also be used to pay your trading fees and if you choose to support their native token by paying in BNB, your trading fees are at 50% off. Seems like a great deal to me to support a fledgling industry. Their mobile app is supported natively on Android in the Play store, and only by unsigned direct download for iOS. Take it with a grain of salt that storing any coins on an exchange is risky and your politics may not align with the host nation. These 4 coins form the basis of the trading pairs for the other alternative cryptocurrency coins and tokens.

Binance Android trading
Binance Market change

The design of the app is very elegant with limit and market orders offered. All pricing is against bitcoin or the other trading pair, but they do provide an estimate of $USD that can be handy for at-a-glance net worth. They say true Crypto traders never value their holdings in fiat but Bitcoin is so volatile it’s hard for those getting started not to lust for dollars! Two-factor authentication through Google Authenticator is possible and minimal KYC is required until you want to withdraw more than 2 BTC at a time. The interface can be intimidating for those coming from Coinbase’s point and click buy/sell operations, but if you’re an experienced trader or a stock market trader used to technical analysis and Japanese candlesticks you will probably appreciate the detail. There’s been some criticism of the New Coin onboarding process with rumors of hefty fees and commissions being charged by Binance to represent a new coin or token, but in the words of the CEO, Changpeng Zhao, “Listed coins have zero complains about our fees”.

They brought on nearly 250,000 users in a single hour after the doors had been closed to ramp up their capabilities.

 

Here are the coins they list today:

  • CTR/BTC
  • SNGLS/BTC
  • TRIG/BTC
  • DNT/BTC
  • OAX/BTC
  • ELF/BTC
  • EVX/BTC
  • MTL/BT
  • SALT/BTC
  • HSR/BTC
  • LEND/BTC
  • VIB/BTC
  • GTO/BTC
  • BCD/BTC
  • XRP/BTC
  • GAS/BTC
  • BTS/BTC
  • XZC/BTC
  • MCO/BTC
  • LSK/BTC
  • OMG/BTC
  • ICX/BTC
  • QTUM/BTC
  • FUEL/BTC
  • DASH/BTC
  • ARK/BTC
  • ZEC/BTC
  • APPC/BTC
  • BNT/BTC
  • ETH/BTC
  • BCC/BTC
  • MTH/BTC
  • WTC/BTC
  • MANA/BTC
  • TNT/BTC
  • XVG/BTC
  • POE/BTC
  • TRX/BTC
  • ENJ/BTC
  • TNB/BTC
  • YOYO/BTC
  • POWR/BTC
  • KMD/BTC
  • STORJ/BTC
  • ADA/BTC
  • BAT/BTC
  • DLT/BTC
  • NAV/BTC
  • REQ/BTC
  • LINK/BTC
  • CMT/BTC
  • XMR/BTC
  • BQX/BTC
  • PPT/BTC
  • NULS/BTC
  • BTG/BTC
  • NEO/BTC
  • WINGS/BTC
  • RDN/BTC
  • ZRX/BTC
  • DGD/BTC
  • RCN/BTC
  • ETC/BTC
  • OST/BTC
  • WABI/BTC
  • LUN/BTC
  • NEBL/BTC
  • ARN/BTC
  • FUN/BTC
  • BCPT/BTC
  • CND/BTC
  • SNT/BTC
  • CDT/BTC
  • SUB/BTC
  • ADX/BTC
  • SNM/BTC
  • XLM/BTC
  • AION/BTC
  • GVT/BTC
  • WAVES/BTC
  • AMB/BTC
  • STRAT/BTC
  • QSP/BTC
  • KNC/BTC
  • EDO/BTC
  • BNB/BTC
  • MOD/BTC
  • GXS/BTC
  • ICN/BTC
  • BRD/BTC
  • LTC/BTC
  • LRC/BTC
  • IOTA/BTC
  • AST/BTC
  • MDA/BTC
  • ENG/BTC
  • EOS/BTC
  • VEN/BTC
  • VIBE/BTC

Watch a short interview with Binance CEO Changpeng Zhao on Youtube by Boxmining.

Take a look at this post about a Four Word Cheat Sheet for the Top 100 Altcoins.

Support my blog by signing up with my affiliate code. https://www.binance.com/?ref=13512739

Top 100 Alt Coin Cheat Sheet

Top 100 Alt Coins described in 4 words or less
Top 100 Alt Coins described in 4 words or less

Buying alternative coins to bitcoin right now already feels like cheating.  Their financial performance is unmatched in 2017 and they are leading the pack in 2018. This handy cheat sheet that was posted by Charlie Shrem has been really handy for me to better understand, quickly at a glance some of the coins that are deeper down the list. I wouldn’t invest much money in any coin that you haven’t done some research on.  Establish not only whether they have a working protocol, Community support, activity in social media, a following, on Reddit, a GitHub with some real code, and many other parameters that would go into deciding whether or not a completely untested technology is investment grade or just gambling.  That’s even before you get into the technical analysis of the price trends. A basic understanding of cryptoeconomics and as Brad Mills would say fomoeconomics will also help you to understand what is going on with each coin and your desire to participate in the market. The top 100 is subject to change and already has from November when this was published originally by Nate Murray on newline.

Want to Get into trading Alt Coins and found this post helpful? Use my referral code to signup for Binance: https://www.binance.com/?ref=13512739

Name | Sym. | Description
—————-|——-|——————————————
Bitcoin | BTC | Digital gold
Ethereum | ETH | Programmable contracts and money
Bitcoin Cash | BCH | Bitcoin clone
Ripple | XRP | Enterprise payment settlement network
Litecoin | LTC | Faster Bitcoin
Dash | DASH | Privacy-focused Bitcoin clone
NEO | NEO | Chinese-market Ethereum
NEM | XEM | Batteries-included digital assets
Monero | XMR | Private digital cash
Ethereum Classic| ETC | Ethereum clone
IOTA | MIOTA | Internet-of-things payments
Qtum | QTUM | Ethereum contracts on Bitcoin
OmiseGO | OMG | Banking, remittance, and exchange
Zcash | ZEC | Private digital cash
BitConnect | BCC | Madoff-like investment fund
Lisk | LSK | Decentralized applications in JavaScript
Cardano | ADA | Layered currency and contracts
Tether | USDT | Price = 1 USD
Stellar Lumens | XLM | Digital IOUs
EOS | EOS | Decentralized applications on WebAssembly
Hshare | HSR | Blockchain switchboard
Waves | WAVES | Decentralized exchange and crowdfunding
Stratis | STRAT | Decentralized applications in C#
Komodo | KMD | Decentralized ICOs
Ark | ARK | Blockchain switchboard
Electroneum | ETN | Monero clone
Bytecoin | BCN | Privacy-focused cryptocurrency
Steem | STEEM | Reddit with money voting
Ardor | ARDR | Blockchain for spawning blockchains
Binance Coin | BNB | Pay Binance exchange fees
Augur | REP | Decentralized prediction market
Populous | PPT | Invoice trading futures
Decred | DCR | Bitcoin with alternative governance
TenX | PAY | Cryptocurrency credit card
MaidSafeCoin | MAID | Rent disk space
BitcoinDark | BTCD | Zcoin close
BitShares | BTS | Decentralized exchange
Golem | GNT | Rent other people’s computers
PIVX | PIVX | Inflationary Dash clone
Gas | GAS | Pay fees on Neo
TRON | TRX | In-app-purchases
Vertcoin | VTC | Bitcoin clone
MonaCoin | MONA | Japanese Dogecoin
Factom | FCT | Decentralized record keeping
Basic Attention | BAT | Decentralized ad network
SALT | SALT | Cryptocurrency-backed loans
Kyber Network | KNC | Decentralized exchange
Dogecoin | DOGE | Serious meme bitcoin clone
DigixDAO | DGD | Organisation manages tokenized gold
Veritaseum | VERI | Vaporware
Walton | WTC | IoT Blockchain
SingularDTV | SNGLS | Decentralized Netflix
Bytom | BTM | Physical assets as tokens
Byteball Bytes | GBYTE | Decentralized database and currency
GameCredits | GAME | Video game currency
Metaverse ETP | ETP | Chinese Ethereum plus identity
GXShares | GXS | Decentralized Chinese Equifax
Syscoin | SYS | Decentralized marketplace
Siacoin | SC | Rent disk space
Status | SNT | Decentralized application browser
0x | ZRX | Decentralized exchange
Verge | XVG | Privacy Dogecoin
Lykke | LKK | Digital asset exchange
Civic | CVC | Identity and Authentication App
Blocknet | BLOCK | Decentralized exchange
Metal | MTL | Payments with rewards program
Iconomi | ICN | Digital asset investment funds
Aeternity | AE | Decentralized apps (prototype)
DigiByte | DGB | Faster Bitcoin
Bancor | BNT | Token Index Funds
Ripio Credit | RCN | Co-signed Cryptocurrency Loans
ATMChain | ATM | Advertising network
Gnosis | GNO | Decentralized prediction market
VeChain | VEN | Supply chain item IDs
Pura | PURA | Cryptocurrency
Particl | PART | Privacy marketplace and chat
KuCoin Shares | KCS | Profit-sharing exchange fees
Bitquence | BQX | Mint for cryptocurrency investments
FunFair | FUN | Decentralized casino
ChainLink | LINK | External data for contracts
Power Ledger | POWR | Airbnb for electricity
Nxt | NXT | Cryptocurrency and marketplace
Monaco | MCO | Cryptocurrency credit card
Cryptonex | CNX | Zerocoin clone
MCAP | MCAP | Mining investment fund
Storj | STORJ | Rent disk space
ZenCash | ZEN | Privacy-focused Bitcoin clone
Nexus | NXS | Bitcoin clone
Neblio | NEBL | Decentralized application platform
Zeusshield | ZSC | Decentralized insurance
Streamr DATAcoin| DATA | Real-time data marketplace
ZCoin | XZC | Private digital cash
NAV Coin | NAV | Bitcoin with private transactions
AdEx | ADX | Advertising exchange
Open Trading | OTN | Decentralized exchange
SmartCash | SMART | Zcoin clone with rewards
Bitdeal | BDL | Bitcoin clone
Loopring | LRC | Decentralized exchange
Edgeless | EDG | Decentralized casino
FairCoin | FAIR | Bitcoin that rewards savers

Charlie Munger Speaks about Bitcoin at University of Michigan Ross School of Business

Charlie Munger recently did a long format talk at the University of Michigan Ross School of Business. He had this to say about Bitcoin and Cryptocurrency.

“I can answer those very quickly. I think its perfectly assinine to even pause to think about them. You know it’s one thing to, to think that gold has some marvelous store of value because Man has no way of inventing more gold or getting it very easily. So it has the advantage of rarity. Believe me, Man is capable of somehow creating more Bitcoin. They tell you they’re not going to do it but they mean they’re not going to do it unless they want to. That’s what they mean when they say they’re not going to do it. If they tell you there are rules and they can’t do it, don’t believe them. When there is enough incentive, bad things will happen. Its.. bad people, crazy bubble, bad idea, luring people into the concept of easy wealth without much insider work. It’s the last thing on earth you should think about. If it worked it would be bad for you because you would try to do it again. It’s totally insane. And by the way, I’ve just laid out a wonderful life lesson for you. Give a whole lot of things a wide berth. They don’t exist. You know… crooks, crazies, egomaniacs, people full of resentment, people full of self-pity, people who feel like victims, they’re just a whole lot things that aren’t going to work for you. Figure out what they are and avoid them like the plague. And one of them is Bitcoin. And the worst thing would happen if you won because then you would do it again. It’s total insanity. It’s so easy to simplify life, from just, all of these things are beneath you. I don’t even want to know… People are promoting bitcoin, I don’t want them to know my address. They’re not my kind of people”

Is Bitcoin in a Bubble?

it has all the classic ingredients of a bubble

–Ray Dalio, Bridgewater

When you overlay the Bitcoin price chart against the classic bubble charts of modern history, it’s quite easy to say that it looks like a Bubble. A speculative bubble driven by greed, and demand for above average market returns.

 

But if you overlay this parabolic trajectory over a typical Technological Adoption curve, with the right timeline on the X axis, it looks quite normal. Is the growth driven by the great efficiencies, transparency, as part of the larger Is it part of a larger credit contraction and deflationary period we might be going through? Does it give hope to a post-Federal Reserve or Central Bank model?

 

I don’t think we’ll ever live in a world where we use the  Internet less than we do today. I also don’t think we’ll ever live in a world where we use money less than we do today. Velocity will increase and will magnify the impact of printing trillions of dollars in fiat currency. I’m left wondering; is the Dollar is in a Bubble?