Are you thinking of launching your career in online trading? The lure of high profits has attracted millions of people to the trading space from all over the world. In addition, trading has become a lot easier and more feasible with technological advancement. People no longer need to leave their homes to trade in the financial markets and they can even do it part-time for supplementing their income. When you can generate a substantial sum of money even with a small investment, wouldn’t you want to do it? It sounds irresistible, but you should understand that profits cannot be made without putting in some effort.
If it was so easy, every single trader would have made millions from the market by now. However, only a handful of traders are able to succeed in the long term because they are willing to put in the time and effort needed to achieve this goal. The first step that you have to take is to find a broker because they are your key to the magical world of online trading. Brokers provide traders with all the resources and tools they need to start trading and their numbers have increased in the last few years to accommodate the growing demand.
The problem is that the higher number of options can make it a big challenge to choose one broker. Some people prefer to sign up with the first broker they find, but there is no guarantee that they will be able to fulfill your needs. Before selecting a broker, you have to consider your own requirements and then make your decision. For instance, some traders want to have a variety of assets to trade while others are willing to accept limited options, as long as they have a secure trading environment.
When you know what you want, it becomes easier to find a broker that is a good fit for you. GTLot is one of the online brokers that you will come across, offering more than 300 financial instruments for trading. They have developed their own proprietary trading platform that you can check and have also added a range of trading tools to the mix. You can check their services and features before making your final decision. If you do decide to go with this broker, you will have to follow the typical route i.e. register with them by sharing some essential details and then funding your account to get started.
What I liked about this broker is that they haven’t restricted their services to a particular category of traders. Their features and services can facilitate traders of all levels; whether you are new to the trading space or are a seasoned trader, GTLot’s trading services can accommodate all. However, you do need to consider its different aspects to determine if it would work out for you or not. What are these aspects? Let’s take a look:
- Is it legitimate?
The first thing you should know about any trading broker is whether they are properly registered or licensed. The financial market has its share of regulated and unregulated brokers and the former tend to be more security-centric. Hence, those who are concerned about their security would prefer to sign up with an authentic broker.
GTLot falls into this category as the broker is registered in Amsterdam, Netherlands. If you visit their website, you can easily find their office address, which is a real location. Moreover, their Terms and Conditions and other policies indicate that the broker takes responsibility for its actions, which is undoubtedly reassuring.
- Can you diversify your portfolio?
If you want to diversify your trading portfolio and don’t want to trade just one financial instrument, then you can open an account with GTLot. As mentioned above, this broker has added more than 300 instruments to their asset index and they are spread out in different categories. Hence, there is a good chance that you will be able to find the ones you wish to trade. This diversification can work in your favor because it helps you in earning higher profits while keeping losses low.
First and foremost, the asset offerings at GTLot begin with the forex exchange market, one of the biggest financial markets in the world. The broker has added major and minor currency pairs, along with some exotic options for traders who enjoy taking risks. USD/CAD, EUR/GBP, USD/CHF and EUR/JPY are just some of the pairs you can trade here. Next up, you will come across indices like S&P 500 and Dow Jones, which are a bit risky, but capable of giving returns.
GTLot has also added commodities to their asset offerings because the broker is aware that not every trader is comfortable in taking risks. The commodities that can be traded via the broker include energies like oil and gas, agricultural products like wheat, coffee and corn and precious metals including gold and silver. Lastly, the broker has also added stocks of some important companies like Google, Amazon, Apple and Microsoft. You can choose whatever combination of assets you want to trade in order to make your profits.
- What kind of trading platform can be used?
One of the most prominent features of a broker that make them vital for online traders is the trading platform they provide. To put it simply, this is the software that traders use for executing their trades and it is necessary to check it out before you choose a broker. A platform that’s difficult to use can have a negative impact on your overall experience. GTLot has developed their own trading platform and I liked the fact that they have put in some effort to keep it as simple as possible. The most notable benefit of their trading platform is that it is web-based, which meant that I didn’t have to download or install it.
Web-based platforms are common and they are popular amongst traders who enjoy flexibility, as these platforms are accessible via websites. Hence, they can be used on any device supporting a web browser, be it laptop, tablet, PC or even smartphone. GTLot has attempted to keep their platform as simplistic as possible, but it is powered by cutting-edge technology, which was obvious from its execution speed. One-click trading wouldn’t be possible if the platform wasn’t backed by powerful technology. It provides access to market news to assist in decision making and advanced charting tools are also available for tracking trends and patterns.
Even though the platform does have cross-device functionality because it is web-based, GTLot has also given mobile apps for Android and iOS devices. Using the web-based platform on smartphones can be a bit of a hassle so I did appreciate the addition of these apps. They came with almost the same tools and functionalities and worked quite smoothly, so I was able to monitor my account round the clock.
- What is the registration process?
You cannot start using a broker’s services without registering with them; this is the norm. Typically, registration of any kind involves filling out forms and providing documents. This can be a daunting process because sharing your personal information with a third party is never easy. As stated earlier, you have to provide GTLot with some essential information in order to register with them. They have kept it simple and straightforward, without too may complexities. There is no requirement for providing extensive details either, which is a good thing.
To register with GTLot, you have to fill out the form they have added to their website. This didn’t take me more than a few minutes because the information that has to be shared is very basic. It asks for your full name, phone number, email address and password and your location. You can choose your account currency, which is either BTC or USDT. It is also necessary to accept their terms and conditions before you submit your application. As long as you are 18 or above, you will be registered right away.
- Is the broker secure?
Since you are sharing personal information with the broker, it is a good idea to take a look at their security policies. Cybercriminals are lurking online and you don’t want your information to be misused or stolen. Likewise, you also want to protect your funds as much as possible. The only way to do so is to select a broker that takes security just as seriously. How does GTLot fare in this regard? First, the broker has complied with the Know Your Customer (KYC) and Anti-Money Laundering (AML) security measures.
These are some of the renowned security policies and can be helpful in keeping trading transparent and fair. Complying with these policies is a must for anyone signing up with GTLot and to do this, you have to provide some important documents. You have to submit your passport, national ID card or your driver’s license to give proof of identity. A utility bill like water, electricity or gas, a credit card bill or bank statement has to be provided for proof of address. You should also register funding methods in your own name and you cannot use third-party accounts for making deposits or withdrawals.
- Do they offer any resources?
The key to succeeding in the trading market is to know how it works and come up with profitable trading strategies. There is no doubt that experience can play an important role in your successful journey, but education is just as important. You need to learn the ins and outs of trading and work on developing your own strategy with the help of the knowledge you gain. In order to do so, you have to find extensive and accurate resources and this can take up a lot of your time.
Therefore, I was definitely pleased to see that GTLot had added some educational resources to their offerings because it saved my time and gave me access to the information I needed. The educational resources are in-depth and cover a wide array of topics related to trading. I was able to get most of the basic knowledge I needed for stepping into the market and making smart decisions. It was available in the form of videos, e-books and tutorials, which gave me the flexibility to choose how I wanted to learn.
Once I had mastered the basics, I moved onto the advanced educational materials that enabled me to develop my own strategies. Along with these resources, the tools offered by GTLot also came in handy. Charting tools, technical analysis tools and risk management tools were the best offerings I could find. I also attended the webinars conducted by professional traders for getting further guidance about how to navigate the trading market.
- Is the broker responsive?
Customer support can make or break any business; this is the golden rule and it also applies to brokers. GTLot has provided 24/7 customer support options on its website and they can be accessed via different channels. They have an email address that can be used for sending it queries and a phone number aimed at handling urgent problems. There was also a Contact Us form that could be used for scheduling a callback. The option of live chat is missing and this could be an inconvenience when you need help right away. But, the agents were responsive and friendly and this partly made up for the lack of live chat.
It can be ascertained that GTLot is an authentic broker that is capable of providing optimal trading services. It can be a good fit for any trader who is looking for a broker that prioritizes security, offers an easy-to-use trading platform, lots of assets, and a safe trading environment.
This Bitcoin HODLer Metric Has Just Flipped Green For The First Time In 8 Months – Here’s What This Means
The long wait is over, or so it appears as Bitcoin holders prepare to set foot into a green zone after seven months of red hot drought.
The earliest signs of a bullish rebound for Bitcoin were sighted on Glassnode’s on-chain metrics this week. Bitcoin users joyfully watched as the index flipped an unprofitable red-run that had gripped hodlers of the apex crypto-currency since mid-November.
Popular crypto expert, Will Clemente noted this latest bitcoin development as a sequel to last month’s net holders position outlook which showed a large sales of Bitcoin coming from the camp of inpatient short-term holders.
What Does This Imply?
The biggest take from this new index is that patient bitcoin holders may now finally see positive returns on their long-term investments.
It also may show that the market has fully corrected holding positions as was seen last month, where Bitcoin’s dip below the $35,000 resistance frightened many new entrants, including young whales (who held large amounts of bitcoin for less than three months), leading to a massive liquidation drive that transferred coins from young holders to old and experienced holders.
Who are the catalysts?
It is unclear what exactly may have spruced the ground for a much-needed leap up, but one cannot underestimate the impact of Bitcoin’s recent acceptance by the government of El-Salvador. Having emerged as the first of its kind to tear through the government’s veil of financial legitimacy, the scale of its operation and use may now become more expanded than ever before. This is most likely to spur more citizens and governments of other countries to innovate their financial system around the digital currency with growing national acceptance.
Others may attribute part of its recent success to Elon Musk’s turncoat claims about Tesla returning to Bitcoin, after ditching the currency in a precarious moment.
But one thing inevitably clear, in the world of crypto influencers is the role of Michael Saylor to keep the masts of bitcoin sailing amidst the troubled waters of last month. From a conference to address energy concerns to an additional injection of $1 billion into bitcoin, the CEO of MicroStrategy has done a lot to build resistance for the apex currency.
As Will Clemente spots the early symptoms of progress, it is expected that many investors who remained skeptical about buying and waiting through the dip, would want to cast in their lots before the entry price soars to the point of eroding leverage.
This means more activity for Bitcoin, more health value upshot, and more reward for those who took Robert Kiyosaki’s advice to ‘buy the dip.’
Paraguayan Official Confirms: In July We Legislate Bitcoin
Paraguay’s Deputy of the Nation, Carlos Antonio Rejala Helman, has confirmed that new legislation in regards to Bitcoin will arrive in July. This comes amid growing adoption in Latin America led by El Salvador, which could be followed by Panama as well.
- CryptoPotato reported last week when Rejala Helman said his country planned to start working on an “important project” that included Bitcoin and PayPal
- Although he provided little-to-no information at the time about the precise nature of the project, the official confirmed it’s coming in a more recent tweet.
- Commenting on news indicating that one of Paraguay’s largest entertainment organizations has started to accept various digital assets, Rejala Helman emphatically asserted, “This is Paraguay. July we legislate! #Bitcoin.”
- This comes shortly after Gabriel Silva, a Panamanian congressman, laid out plans to present a bill on cryptocurrency adoption as a legal tender as well.
- He believes Panama should not trail other nations from the region that have already taken steps to legalize Bitcoin.
- Naturally, he meant El Salvador. The small country located in Central America has been the leader in terms of BTC adoption.
- As reported recently, the nation officially voted in favor of a new rule making Bitcoin a legal tender within its borders. El Salvador’s President, Nayib Bukele, further outlined his support for the asset and even urged miners to mine BTC with the thermal energy of the country’s volcanoes.
The End of NFTs? NFT Sale Transaction Volume Down 95% Since Early May
The NFT price crash that started in May is continuing. What does this mean for non-fungible tokens?
The drop in non-fungible token sales that began in early May seems to be continuing into June.
Finance Magnates previously reported that according to data from NonFungible.com, the week-long period surrounding the NFT market peak at the beginning of May saw $170 million in transaction volume. By the end of the month, that figure had collapsed to just $19.4 million in NFT sales, a decrease of roughly 90%.
According to a new report from CNBC, the drop has continued. On June 15th, the seven-day average NFT transaction volume had fallen to oust $8.7 million. Compared to the market’s peak in early May, the new number represents a drop of nearly 95 per cent.
Is this the end of non-fungible tokens?
The Boom and Bust of Non-Fungible Tokens in 2021: A History in Brief
While this may not be the end of NFTs, it’s certainly the end of an era. Riding on the tailwinds of the biggest crypto bull market in history, non-fungible tokens made a serious splash when they entered the mainstream in March of 2021. By that point, NFTs had already been around for several years.
However, they had never previously captured the public imagination in such a big way. Investors and speculators saw a new opportunity to try and win big in a rather novel financial market; artists and creators saw a new opportunity to monetize their work in the digital world.
For some, the opportunity paid off–big time. Graphic designer Mike Winkelmann, also known as “Beeple,” sold an NFT for a record $69 million at a Christie’s auction in March. Around the same time, Twitter CEO Jack Dorsey, sold a tokenized version of his first tweet for $2.9 million the same month. Grimes, Eminem, 3LAU, Lindsay Lohan, and many other celebrities also cashed in on the trend.
However, it wasn’t long before the cracks in the walls of the NFT space started to show. Critics of non-fungible tokens decried the practice of minting them, pointing to the possibility of heavy carbon footprints. Many smaller creators who were entering the space for the first time quickly discovered that someone else had already stolen and tokenized their work, much to the chagrin of the collectors who had purchased the fraudulent tokens.
Additionally, reports of “vanishing” non-fungible tokens began to hit headlines as questions about what it really means to own a non-fungible token went unanswered. Because the material that an NFT is associated with is not stored in a Web 3 environment, it is subject to the same kinds of problems that all centralized media is: if an NFT-tied photo disappears from the web, well, tough luck.
Now That the Hype is Over, What’s Next?
At first, the criticisms of non-fungible tokens didn’t seem to significantly affect the space. However, when cryptocurrency markets were hit with bearish forces in mid-May, non-fungible token markets were decimated. Analysts who operate outside of the cryptocurrency space have written the whole saga off as another crypto fad–novel, exciting, and perhaps interesting, but essentially vapid and hype-driven.
However, Gauthier Zuppinger, the chief operating officer of Nonfungible, told CNBC that the NFT market movements of the last several weeks are closely related to one another: “The thing is that, each time you’ll notice such a quick increase on any trend, you’ll see a relative decrease, which basically stands for a market stabilization,” he told CNBC.
And indeed, data from Nonfungible.com show that after this 95% decrease from the NFT market peak in early May, NFT sales are basically continuing along the trend of slow and steady growth that has been trending over the past several years.
“High-profile NFTs selling for millions of dollars was a sure sign that the market was treating them as speculative assets,” said Nadya Ivanova, chief operating officer of L’Atelier, speaking to CNBC. “And by definition, markets for speculative assets are unstable and liable to dry up.”
“The bigger question for NFTs is their long-term value, which we believe is likely significant,” she continued.
In other words, now that the hype is over, non-fungible tokens can continue along their path of technological discovery.
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NFTs in Virtual Reality and Beyond
While the most commonly known use-cases of non-fungible token technology surround the concepts related to digital authenticity and ownership on the internet as we know it, some innovators are exploring an entirely new environment for NFTs: virtual reality.
Forbes recently reported that Space Force partnered with digital artist companies WorldwideXR and VueXR to release their own NFTs with augmented reality features. According to the report, the NFTs are accessible to their owners through the VueXR app, which is available on both iOS and Android.
“As augmented and virtual reality technology matures, normal people are going to spend more and more of their time — and therefore money — in virtual environments,” Nadya Ivanova told CNBC.
Non-fungible tokens have already made a splash in the gaming world as technology that could make decentralized ownership of in-game assets into a reality. However, as gaming moves increasingly toward virtual reality, NFTs could take digital ownership to the next level.
“World-builders in VR are looking at ways to make world building a lot more profitable, but there are few companies that are willing to put down money for a virtual world,” said Dale Deacon, who is an expert on developing immersive storytelling in VR & AR. He was speaking to VRScout.
NFTs could provide a path toward real-world monetization in virtual economies. “Monetizing the job of being a VR world builder, will be a part of monetizing the role of a world builder.”
Now that the hype is being washed out of the non-fungible token space, it’s possible that VR innovators could explore their use cases in a more serious way. “I’m interested in AR and VR spaces as NFTs [because] they have a practical value,” said Dale, adding that “the hype around NFTs” made them a bit “myopic.”
While NFTs may not be the end-all, be-all for VR world builders and other creative economies, they could be part of an important shift that allows creators to have access to new kinds of economic tools.
“The shiny thing that NFTs are at the moment, is not the end goal of this whole decentralized finance – where standard banks have proper competition for once,” Deacon explained.
Now that the Hype is Over, True Innovation Continues
Beyond virtual reality, non-fungible tokens are also finding new use cases in the music world. Others
“We have only seen the tiniest part of where this is going,” said Geoff Osler, CEO and co-founder of NFT app S!NG, to CNBC. “Cryptocurrency is here to stay — and NFTs mean there is now something to buy. It’s the other side of the equation. And this is going to go a long way past digital art. We think music is next.”
Other use cases for non-fungible tokens have been identified in identity, travel, live entertainment, medicine, supply chain, and many more industry verticals. Still, quite a lot of innovation will likely need to take place before the technology can take hold in any industry in a meaningful way.
Now that the NFT hype seems to be over, companies and innovators that have been working to improve non-fungible token technology will continue to build for the future. Watch this space.
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