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A Short Review of 101Investing

101Investing is a relatively new, yet popular crypto CFD brokerage platform. Based out of Limassol, Cyprus, 101Investing is operated by FXBFI Broker Financial Invest Ltd, regulated by CySEC (license no. 315/16) and has also earned few awards along the way. The trading platform is easy to use and is designed to meet the needs of

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101Investing is a relatively new, yet popular crypto CFD brokerage platform. Based out of Limassol, Cyprus, 101Investing is operated by FXBFI Broker Financial Invest Ltd, regulated by CySEC (license no. 315/16) and has also earned few awards along the way.

The trading platform is easy to use and is designed to meet the needs of both novices as well as experienced traders. They can trade a range of supported financial assets which include CFDs on Forex, Cryptocurrencies, Commodities, Stocks, Indices, and Metals.

A Highly Flexible CFD Trading Platform

101Investing offers the best for everyone it serves, allowing them to set it up and use it just the way they prefer. Available in 7 different languages including English, Spanish, Portuguese, Italian, German, Dutch and Swedish, it can be accessed across multiple devices as long as they are connected to the internet. The trading platform can be accessed using the web-browser based WebTrader, desktop software MetaTrader 4 that is compatible with Windows, Mac and even Linux based operating systems and mobile applications for Android and iOS smartphones.

The highly customizable trading dashboard on 101Investing allows users to access and trade over 250+ assets on CFDs, by utilizing more than 30 indicators, 24 analytical objects, interactive charts with 9-time frames, 4 market order execution modes, one-click trading feature, and more.

Creating an Account

101Investing offers access to an easy to use platform offering multiple account types to meet the varying requirements of the trading community. Signing up on the platform requires users to furnish their name, email address, phone number, and set a password, followed by the completion of a quick KYC process. Once done, they can pick any of the four account types: SILVER, GOLD, PLATINUM and PRO EXCLUSIVE. It also offers Shariah-compliant Islamic trading accounts.

Silver Account

Gold Account

Platinum Account

Retail + Pro Clients Professional Clients Professional Clients
FX leverage: 1:30 Leverage: up to 1:400/1:500 Leverage: up to 1:400/1:500
Fifth Decimal Fifth Decimal Fifth Decimal
0% Swap Discount 25% Swap Discount 50% Swap Discount
Free VPS Free VPS Free VPS
Investment News Update Investment News Update Investment News Update

The Pro Exclusive account is a personalized VIP trading account meant for professional traders. New users can start trading on 101Investing once KYC documents are verified and approved, which could take up to a couple of days. The supported CFD products include 50+ currency pairs, 20+ cryptocurrencies, 17 commodities, more than +100+ global stocks and popular indices.

Fees and Payments

101Investing has a transparent fee structure, which is also among the lowest in the industry. There is no deposit fee or commissions except for revenue from charges on the spread, and a small withdrawal fee and inactive account fees.

Meanwhile, users can make deposits and withdrawals using a variety of payment options including credit and debit cards, wire transfer, Neteller, Safecharge, Skrill, V Pay, and more. There is however minimum deposit and withdrawal limits of EUR250.

Customer Satisfaction and Security

Almost all users on 101Investing are a satisfied lot, thanks to its reliable trading infrastructure, security features, and a responsive customer support team. The support team is highly trained, and they can be reached with queries or issues over live chat, email, telephone, and web form. They are available on weekdays and weekends and are always quick to respond.

When it comes to security, the platform doesn’t miss anything. It has some of the best security infrastructure in place, which includes state-of-the-art firewalls, SSL software, SAS 70 certified data centers and Level 1 PCI compliant service moderation among others.

Learn and Earn

101Investing has an extensive collection of education and training material that helps users learn how to use the platform, analyze trade data, and place trades. The education material includes articles, webinars, video-on-demand, e-books, tutorials, courses, etc., which offers an understanding of the market, along with a walkthrough on how to put all the tools on 101Investing to good use. Combining that with the availability of a demo platform to practice all the learnings without any risk to actual funds, users can sharpen their trading skills and place trades.

Verdict

The 101Investing CFD offer access to a platform that has a lot of things working in its favor to make it the go-to platform for CFD trading needs is highly customizable and available on different devices. Also, it has some of the lowest fees in the market as well, which makes it worth trying out.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89 % of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs work and whether you
can afford to take the high risk of losing your money.

Source: https://www.livebitcoinnews.com/a-short-review-of-101investing/

Blockchain

Further Declines in Bitcoin Price Possible Though Grayscale is Crucial, Notes JPM Analyst

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Although Bitcoin has recovered from its vigorous price losses during the Thanksgiving massacre, analysts from JPMorgan Chase & Co believe that further declines may still occur.

The strategists pointed out that Grayscale, through its Bitcoin Trust, will play a significant role in future BTC price developments.

Is Bitcoin To Head Further South?

The primary cryptocurrency reached a new yearly high of $19,500 last week; thus, it came less than 3% away from the 2017 all-time high of $20,000. As the community began speculating on how long it will take to surpass that level, the trend reversed viciously.

Bitcoin headed south and lost over $3,000 of value in hours. Nevertheless, the cryptocurrency has recovered most of its losses and trades north of $18,000.

A JPM analysis, led by Nikolaos Panigirtzoglou, recently said that the Thanksgiving price drops had cleared the “previous froth in momentum traders’ positioning.” However, the strategists hinted that Bitcoin could still go lower.

“Momentum traders such as commodity trading advisors and other quantitative funds likely played a big role in the slide by unwinding long Bitcoin futures positions. Momentum traders have room to further propagate” the Bitcoin decline, noted the analysts cited by Bloomberg.

Apart from broaching “momentum traders,” the strategists also discussed various other reasons behind the price developments. Those included the rumors of new regulations proposed by the Trump administration and profit-taking.

Grayscale Is Key

The JPM strategists also highlighted the significant role of Grayscale and its Grayscale Bitcoin Trust on the market. The cryptocurrency manager is the most preferred company for institutional investors to receive exposure to Bitcoin (and other digital assets) without worrying about storing the funds.

This has been exemplified through 2020 as Grayscale has reported back-to-back recording-breaking quarterly results. The assets under management (AUM) have exploded in the past 12 months to over $10 billion. Somewhat expectedly, the Grayscale Bitcoin Trust has the most substantial share.

The analysts asserted that if there’s a decline in the interest towards GBTC, this could damage the narrative that Bitcoin has become a favorite among institutional investors:

“A failure by the Grayscale Bitcoin Trust to receive additional inflows over the coming weeks would also cast doubt to the idea that institutional investors such as family offices have embarked on a trend of embracing Bitcoin as digital gold replacing traditional gold as a long-term investment.”

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Source: https://cryptopotato.com/further-declines-in-bitcoin-price-possible-though-grayscale-is-crucial-notes-jpm-analyst/

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Canaan Sees Over 75% Decline in Net Revenue in Q3 as Bitcoin’s Price Surge

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Chinese Bitcoin mining firm Canaan has recorded a loss in yet another quarter but is showing positive signs of a recovery as share price and market capitalization spikes. Following a disappointing initial public offering (IPO) last year and declining inventory sales, the company has seen the balance of power shift considerably to major competitors MicroBT and Bitmain.

$12.7 Million Loss for Q3 2020

Bitcoin miner maker Canaan has reported a 75.7% year-on-year (YOY) decline in net revenue as part of its Q3 2020 financials published on Nov. 30. In the report, Canaan revealed that its net revenue for the period was $24 million, which also amounts to an 8.5% reduction from the earnings recorded in the previous quarter.

Following the significant drop in quarter-on-quarter (QOQ) net revenue, it is unsurprising to see Canaan post another quarterly net loss in 2020. According to its Q3 2020 financials, the bitcoin mining chip maker recorded a net loss of $12.7 million, compared to a $2.5 million loss in Q2 2020 and $14.3 million in Q3 2019.

Commenting on the firm’s Q3 financial performance, Nangeng Zhang, Canaan’s CEO and Chairman said:

“During the third quarter of 2020, we remained undeterred by the pandemic to strengthen our research and development capabilities, expand our AI business, and execute new business initiatives. By leveraging our enhanced R&D capabilities in the third quarter, we launched our A1246 product series, which continues to lead the industry with its energy efficiency, computing power, and unit cost.”

Canaan Market Cap on the Rise

Net loss aside, Canaan has been recording some positives in the latter part of 2020. Indeed, the company’s market capitalization has more than tripled from $300 million in September to about $900.8 million as of press time.

Canaan’s share price has also been on a tear in recent months, rising over 200% within the same period. With one-third of Q4 remaining, the company’s stock has risen over 170%. Maintaining the current price action could see the Bitcoin miner manufacturer’s stock price challenge its IPO float price of $9, which incidentally is its all-time high share price.

Tweeting on Canaan’s Q3 performance, @WuBlockchain identified rising inventory sales and the release of the company’s A1246 miners are contributing factors to the firm’s recent resurgence.

Canaan was also among a group of Chinese mining hopefuls looking to float IPOs in the last couple of years. However, Canaan’s offerings fell short of the mark, failing to even realize a quarter of the $400 million estimate.

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Source: https://cryptopotato.com/canaan-sees-over-75-decline-in-net-revenue-in-q3-as-bitcoins-price-surge/

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Authorities shut off electricity to Bitcoin miners in China’s Yunnan province

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Local sources report that authorities from the city of Baoshan in the Chinese province of Yunnan are escalating efforts to crack down on Bitcoin miners, ordering electricity producers to cease supplying power to the city’s miners.

On Nov. 30, Chinese crypto reporter Colin Wu tweeted that several miners had informed him of the ban, sharing what appear to be scanned copies of official documents issued to power producers:

However, Wu added that the ban was probably informed by localized “economic interests,” and probably is not indicative of a desire to quash crypto mining on the part of Beijing: 

“There is no need to overestimate the impact of this incident. The attitude of China local power companies towards crypto mining is often changing. It is more a demand for economic interests than political pressure.”

The ban appears to have coincided with a 24-hour drop in global hash rate of roughly 10% from 140 exahashes per second to 125 EX/s, though correlation is far from causation.

According to Cambridge University’s Bitcoin Electricity Consumption Index, or BECI, Yunnan was China’s fourth-largest region by mining hash rate, behind Xinjian, Sichuan, and Inner Mongolia as of April 2020. Yunnan then represented 5.42% of global hash rate — ranking it above all countries except for China, the United States, Russia, and Kazakhstan.

In June, Wu reported that Yunnan’s government had ordered 64 unauthorized mining operations to shut down, including seven that were still under construction. The government cited tax evasion and security risks including how the mines were wired to local hydropower stations.

During that same month, a local Bitcoin mine caught on fire, resulting in the incineration of thousands of units.

The mid-year crackdown also followed a May 29 explosion at a hydropower station in Yunnan that killed six people and injured five. The explosion was believed to have prompted greater enforcement of safety standards concerning hydropower plants in the region.

In April, Yunnan’s state grid also issued a document warning electricity producers against the unauthorized diversion of power to Bitcoin mines.

Source: https://cointelegraph.com/news/authorities-shut-off-electricity-to-bitcoin-miners-in-china-s-yunnan-province

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