Off Exchange Trading - Huge Profit Opportunity and Basic Trading Within the Current System
Image taken from reddit
The hottest thing in the crypto realm
Have you heard about these awesome off chain swaps that Litecoin is doing?
Trading Bitcoin without depositing your funds to an exchange is becoming a common occurrence.
They most recently have been able to use the lightning network to Swap between DCR and Litecoin as well!
The newest asset to function with fully atomic swaps is Komodo. They are currently building a fully de-centralized exchange. They call it the BarterDEX
Ushering in a new era
This is a huge deal! Since crypto began, you had to use escrow and trust people with finances until their Bitcoin or other objects that they were selling arrived. This could open people up to the risk of scamming and dealing with tons of other issues such as paying fees for escrow and sometimes dealing with the timely process of doing these kinds of transactions.
Enter exchanges. Tons of these exist now, allowing users to deposit their funds and swap them for a currency of their choosing.
With the newest changes in technology there are so many more things that are happening. No longer do you need to trust thousands of dollars to an entitiy that may or may not be able to pay your funds back (such as Mt. Gox or Cryptsy in the past).
This is one of the biggest changes in the future of crypto. Not only will we do away with the risk of dealing with a centralized exchange that can be hacked or run off with your funds, but also it will allow for the market to be truly free.
This can seriously change the world as we know it, and if you are reading this you probably are already poised to make profit from it, if you use the new system or not.
One of the most developed ecosystems for the coin exchange is a very little-known platform.
Komodo has been developing the BarterDEX and is almost "market ready" - They actually have a solid deadline, as they plan to launch it right along-side their first dICO - a partnership with Monaize (an online bank for small businesses). So this is a pretty damn big deal but on top of this there is the BarterDEX launching to allow the dICO to be truly de-centralized and secure.
There are tons of options to get these "atomic swaps" going for you, but honestly I am a huge proponent of the brand new system developed by Komodo/SuperNET. This is one of the best platforms as it already has a couple dozen of currencies already, putting it shockingly ahead of the competition.
Regulation can't keep up
With the newest news out of China, that they will be closing down all the exchanges, there is a large amount of the market that is being cut off. This is huge.
The rise of these atomic transactions will effectively undermine the ability of the government to shut down trading.
It will really become a mad dash for any way to make money within the crypto-sphere.
USA may also be dropping some regulations once the SEC can figure out its own issues. Who knows where the future will bring stateside.
People will get on board - Will it be sooner or later?
With Komodo being traded at just under 5k sats at the time of this writing, there is a huge opportunity.
Further, if anyone wants to pop into Litecoin, I feel like this may also be a good buying opportunity, as it is very near a low we haven't seen since the beginning of 2017.
I personally hold Komodo, as I have been getting involved with the project and am interested in how this new ecosystem will effect the cryptosphere.
I do not intend this writing to be a pump article, as it is difficult for me to say that I hold Komodo and am very excited about it and not be portrayed like this.
Honestly, my intention in writing this here is that I wanted to bring attention to a little known coin, that people judge on the presentation that people say "flopped" with a live stream done about a month ago.
You are all free to feel however you like, and I would love to hear about it, but in my opinion there are three ways to trade cryptocurrency.
You can either follow the whales and trade the rumors, trade the charts, or you can trade the tech
Image from imgflip - Jackie Chan being confused
If you have spent any time trading forex or reading about technical analysis, you know there are signals within charts and people can (sometimes) effectively trade on those signals. This is also what trading bots do exclusively.
This is a weird place for discussion as there is a large community devoted to looking at signals and such thinking that these work just like foreign exchange markets. They do, kind of. But at the same time they don't. More on that here.
Trading the rumors can be quite good as well. This is the same as following the whales as they push the price up, staying plugged into twitter and trading as news drops. You can also make this profitable, but this is also based on the greater fool theory, as someone always has to be left holding the bag.
Lastly there is trading the tech.
This is looking at the underlying structure of what the organization is doing. Not the marketing, not the pumping and dumping, nor watching and playing around with the chart signals. Its simply buying when you think a technology is undervalued and then selling when you think people are flocking to it because it has moved a lot. This is more like looking at the fundamentals of a company and seeing that they are making mad profits but no one has purchased their stock. Thus, when people realize - the price will go up according to demand.
Interestingly enough the best traders use all three of these techniques, as there is no "right way" to trade anything.
I personally believe that Komodo is severely undervalued as similar coins with way less usability exist and they are selling for 4 or more times the current price of Komodo. Mostly I am looking at Zcash and ZEN, these have very similar usability but almost nothing new on top.
The hangup with Komodo is that the website is kind of confusing and there is a large amount of distrust due to a "flopped" interview. You can feel however you want on that, but the tech is really good. Look into it.
Good ol' Reading Rainbow - back in action
Ask questions, get involved in the community on slack or their message boards. Look for pull backs in the charts and then enter a trade.
Its really going to change things, much like LTC and BTC are doing with their atomic swaps. This is going to open up a whole new world.
Don't take this as trading advice. I am just sharing my experience. If you lose money trading blindly it is your own responsibility. Do your own due diligence as I am sharing why I hold the positions that I do and letting the community here know about innovations that I see as potentially profitable. I own KMD, in full disclosure.
If you liked this writing, throw me an upvote or let me know why you liked it. I am always down to discuss any opinions that I have shared. Follow along for more posts like this and anything else that I can come up with from my crypto-addled brain.
What do you think?
Is this the future?
great work:)
upvoted and followed
I appreciate that! Hopefully this will get some traction - I know its a hot topic, but Im just trying to spread the good news!
KMD is a game changer!!
I completely agree! I just wish people would actually look at the tech!
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