Following Wisebitcoin’s full launch earlier this month, Mr. Jo, who has been Senior Advisor here at Wisebitcoin since the initial launch of our beta platform in 2018, shares the latest on cryptocurrency trading. Mr. Jo has worked for a series of top Southeast Asian financial institutions and has developed a number of financial derivatives over the course of his career.
(Read the full interview with fintech news platform Tech Bullion here.)
How does the mass exodus of bitcoin leaving exchanges affect crypto exchanges and the Bitcoin market?
“As big international corporations, entrepreneurs and ultimately banks started to be more interested and involved in the coin market and Bitcoin, different countries felt the need to upgrade their policies and introduce new ones resulting in users preferring to leave the exchanges and waiting for those new regulations to be implemented and see how they will pan out in the following months,” Mr. Jo explains, “Once everything is settled, users will start to bring their coins back to the exchanges and the market will start to grow again.”
What should investors expect from the crypto markets in 2021 and beyond?
Currently, the total crypto market is approximately $1,107.24 billion (coinmarketcap.com).
“COVID-19 surely had an impact in the coin market, as it impacted the finance, fintech, and crypto industries. As a result, players and traders want to secure their coins, so currently, we can see inflation,” observes Mr. Jo.
“In 2021 we can only expect for the market and exchanges to grow and draw in a new set of players and users.” 2020 brought in a wave of curiosity about Bitcoin and cryptocurrency, due in part to increased time to access news and media coverage, where the presence of cryptocurrency has also increased. “So we think that some of the reasons why the coin market is getting bigger are its media exposure and people starting to get genuinely interested about it and wanting to find an alternative to traditional finance in such unpredictable times. If the USD has issues, traders will buy gold, so we expect Bitcoin to become the gold asset for the new generation of traders.”
How is contract trading different from traditional spot trading?
Contract trading is a form of exchange that allows investors to trade without actually having their own assets, in contrast to spot trading, where you actually buy and sell currency to make money.
“The value of the contract follows the value of cryptocurrency and you benefit from the price movements without actually having cryptocurrency because the contract is designed to follow the prices,” Mr. Jo explains, “One of the main advantages of our platform is that we offer up to 100X leverage for contract trading.”
How does Wisebitcoin make cryptocurrency trading faster and easier?
At Wisebitcoin, we’ve continually been working on upgrading our platform with cloud connection since our beta launch in 2018. Wisebitcoin technology has three main features:
- Asset custody and clearing technology, distributed digital asset custody and settlement technology through the consensus mechanism of hot and cold wallet separation, transaction data upload, multi-signature, and member node clearing. Together, these features achieve “the goal of asset security and transaction credibility, making the platform efficient, transparent, and secure.”
- High performances, solving the problem caused by physical fragmentation for real-time transaction and consistency within the digital environment through specially designed distributed transaction processing technology. “Even if some node fails, it will have no effect on the system operation. It lays a good foundation for serving a massive user base,” Mr. Jo adds.
- Diversified liquidity. “Exchange partners can share liquidity, access the depth of many well-known exchanges, quickly combine orders, and ensure that partners have sufficient depth and liquidity.”
What unique cryptocurrency investment opportunities does Wisebitcoin offer?
“Wisebitcoin is part of Land Prime Group, which owns well established financial institutions including Land-FX UK, which is a mother company located in the UK and regulated by FCA,” Mr. Jo explains, “Currently, we have launched several promotions that are available until the end of January: a special USDT bonus promo, social media campaign, and an affiliate sign-ups promotion. Any users and affiliates can participate by joining our platform.”
The affiliate program offers participants the opportunity to earn commissions at a rate of $2.10, which is more than twice the rate of other crypto exchanges. With tools optimized for effectively managing business activities, Wisebitcoin provides affiliate partners with the support needed to grow their businesses, including website management, advertising, white label solutions, and more.
Why choose Wisebitcoin for cryptocurrency trading?
Wisebitcoin provides a range of benefits to fit the specific needs of both futures and mainstream traders, including:
- A user-friendly interface and mobile app
- 24/7 customer support, including live phone assistance
- Connection to the clouds of more than 15 million users and 280 merchants worldwide
- 100X leverage on contract trading
- Over 2.3 million tps single trading pairs
- An insurance fund for asset protection
- An affiliate program, offering 30% standard commission and $2.1 commission for affiliates.