What’s Ethereum?
Ethereum is essentially the most used platform for DeFi mission and essentially the most actively used blockchain. The decentralized, open-source blockchain has good contract performance and tokens, Dapps and protocols may be construct on the Ethereum chain.
It was created by Vitalik Buterin in 2013 and went reside in 2015. Ethereum 2.0 is at present being carried out, which is able to improve the transaction throughput by including sharding and PoS (Proof of Stake)
Contract Trading and Demonstration
The contract trading is the method of trading that aims to gain profit from market volatility. This method allows the user to forecast if the price of an asset will go up or down, involving leverage.
The traders are not buying or selling the asset, only speculating the price and forecasting if the value will go up or down. Contract trading can bring profit quicker than holding assets but the risk involved with this type of trading is higher. Bityard has two different types of Contract Trading: Cryptocurrencies and Derivatives.
The Contract trading is different from spot trading. The trading instrument called contract allows the investor to trade on the price movement of the cryptocurrency, at a future date or and at the desired price. It involves leverage and therefore the traders are not buying or selling the asset, only speculating on the price movement. With a trading fee set at 0.05%, Bityard has trading fees lower than the industry’s average.
In the below scenario, I am forecasting that the Ethereum price will go up, therefore I am going with the tide. Going “Long” and creating a contract for $14 USD, at the current value of $1832.52.
I set the leverage at 20x, and paid 0.28 USDT as a fee. Once confirmed, the Ethereum contract will appear in the bottom of the dashboard, under the “Positions” tab. The contract details will include the name of the cryptocurrency, the leverage, the chosen margin, opening price and opening time.
The contract will close automatically if the price will raise or drop at the set value, or it can be closed by the user at any time. The Ethereum value started to drop after I set my first contract therefore I opened a new one, also going “Long”
The tide was moving against my contracts and again, I decided to play against the tide! I opened my third Long contract and waited for the price to surge!
The strategy paid off and with the price going upwards, my deficit started to minimize. I had to wait for the best time to close my contracts. Closing the contract manually is a method that can bring profit when the value is close to the set value and the price stops moving. Closing the contract will bring a smaller profit but will reduce time wasting and stress due to volatility.
And then the time was right .. I closed them all for profit! The Trade History will show all closed contracts, for further study and references.
* This is not financial advice, only my personal experience!
Why Bityard is different?
Bityard engine is the fastest on the market, processing up to 1 million transactions per second. The exchange is available for both mobile (Android & IOS) and web, and has the lowest transaction fees. The website interface is available in nine different languages with customer support 24/7 via email and live chat.
About Bityard
Bityard is the world leading cryptocurrency derivatives exchange, fully regulated and compliant with international laws, with the main activity in cryptocurrency contracts with leverage and derivatives exchange.
Bityard operates with licenses from four different countries: The USA, Australia, Singapore, and Estonia. The following licenses are regulating the exchange activity: the Singapore’s ACRA (Accounting and Corporate Regulatory Authority), The American Money Services Businesses (MSBs), Estonia’s MTR (Register of Economic Activity) for the European Union, and the Australian Transaction Reports and Analysis Centre (AUSTRAC)
