Currently, the crypto market place is filled with many different options to exchange digital assets. Choosing the right exchange can, therefore, be a challenge. CoinMetro is a great option for your trading needs. It’s safe, regulated and is on a growth curve to becoming one of the go-to exchanges for all traders. This CoinMetro beginner’s guide will outline why this exchange is one that you really need to visit.
CoinMetro – why it’s different
One of the most significant features of CoinMetro is that every trader is catered for. Whether you’re a beginner or pro, the platform will suit your needs. How’s this achieved?
The exchange is differentiated into three areas depending on how much information you need. Let’s take a deeper look how this works.
An exchange for all needs
For beginner traders, CoinMetro has a simple dashboard. This makes the process of buying and selling your favourite crypto super easy. For example, crypto can be bought and sold in three easy steps!
- Select the currency you want to buy
- Select the currency you want to pay with
- Check and confirm the transaction… that’s it!
Here’s the user interface (UI) below:
How to buy bitcoin with CoinMetro
Here’s a helpful video on buying your first bitcoin on CoinMetro’s simple exchange:
If you’re a new trader and keen to jump in sign up here. If not, read on for more for the full review.
The intermediate trader
Need more detail for your trades? Then CoinMetro have you covered. The intermediate platform is slick, razor-sharp and packed full of information that you’ll need. Check out the UI below:
The pro trader
Professional trader? CoinMetro has you covered too. Advanced charting, analytics and investment tools are at your disposal through the pro trader dashboard.
It’s a great question? With so much competition, why does this one deserve your attention? After using the service, I’d say there are 3 key reasons.
Gone are the days where support tickets can sit idly on an exchange’s systems while you get increasingly frustrated that your digital assets are lost in cyberspace. CoinMetro support service, as we have tested over a number of months, is second to none. They have full support in English, Spanish, French and Russian. All of our issues were responded to in under 5 minutes (now that’s some customer service!)
Someone famous once said that a good reputation takes years to create and only a few seconds to destroy. CoinMetro is positioning themselves to be the number one provider of outstanding customer experience from buying an asset to trading and selling it.
This is the type of service that the crypto space needs.
In the crypto industry, bad actors with limited regard for regulation are being rooted out. This will continue to increase as compliance becomes increasingly important. Why should we care? The huge danger is that if the crypto exchange, where we store our funds, goes into liquidation, then we lose all of our assets and gains we’ve accrued.
That’s why we need exchanges like CoinMetro:
We are not a crypto company, we are a traditional financial institution that understands the complexities and benefits of blockchain and crypto. We are actively working with regulators in a number of jurisdictions to further improve the industry’s regulatory framework.
In this regard, you are taking the best bet to make sure that you safeguard yourself against the pitfalls that have beset other exchanges.
With the safety of CoinMetro, there’s a responsibility from the user in relation to meeting the requirement for personal verification. The Know Your Customer (KYC) procedures are robust. I never had an issue due to having access to plenty of personal documents to verify my identity. If KYC procedures are something that you struggle with, then CoinMetro may not be the best platform for you.
From the top to the bottom, CoinMetro is awesome. The guy leading the show (Kevin Murcko) really knows his potatoes.
You really get a sense that this guy doesn’t just see the surface of the pond, but right down the bottom and back up. I really think he can deliver something special. Here’s the background on Kevin Murcko, CEO.
A Crypto Enthusiast before the term was even a “thing”, Kevin brought transparency to Forex via his unique FXPIG brand and he continually pushes to close the profit gap between institutional and retail traders. FXPIG is not the largest FX broker, but that is by design based on his vision. It was created to change the industry, and it did just that. FXPIG brought transparency to the forefront and it started a growing trend of client-centric shops that actually focus on their client’s profitability rather than their losses. While FXPIG is still very unique in the FX space, it is proud to see the change it helped foster as it pushes through the industry. Kevin has always been a supporter of in-house tech development and FXPIG remains one of the few companies in FX to develop and trade on their own technology. This mantra is at the core of the CoinMetro philosophy as well. With his sights now set on blockchain, Kevin is ready to guide CoinMetro down a similar path; one that will eventually change the way this market operates.
The community, over on Telegram, are backing Kevin big time. There’s a really unique vibe over on Telegram and within the CoinMetro community. It’s like a beating drum and the tempo is speeding up.
Beyond the compliance…the support…the range of trading tools… it’s the community which is one of the most exciting aspects of CoinMetro.
It’s like an early Binance flavour, but with greater compliance to the changing landscape of FinTech.
CoinMetro’s fee structure
Cryptocurrency margin trading with CoinMetro
In June 2019, CoinMetro rolled out margin trading on the platform. If you’re not a professional trader, margin trading is trading on account using ‘leverage’ from a brokerage company or a crypto exchange. These funds are used to amplify your position and make bigger gains.
For example, if we had an open position at 2X leverage with $100 of your own money, we would also trade with another $100 from a “lender” off the platform totalling $200.
Using margin trading can lead to impressive gains however, it should be noted that losses can also be amplified by the same measure.
If you want to dig deeper into cryptocurrency margin trading click here What is crypto margin trading?
I personally have used margin trading on CoinMetro as this is something I have used to good effect on the NASDAQ100. If you approach it sensibly, it’s a great tool.
CoinMetro beginner’s guide – wrapped up
It doesn’t stop there; CoinMetro has several development features in the pipeline: Electronically Traded Crypto Funds (ETCF’s), margin lending and Tokenised Asset Management (TAM). This one’s here to stay. Keep checking back on this post and we’ll continue to keep you updated how the exchange is evolving. We hope you’ve enjoyed our CoinMetro beginner’s guide. If you’d like to get involved, then feel free to check it out here.
Cardano Price Analysis: 17 May
At a time when other altcoins were stumbling, Cardano [ADA] witnessed significant growth. Although the price of the digital asset mirrored the correction in the Bitcoin market, the overall market still seemed to hold on to a high value.
At the time of press, ADA had lost 12% of its value since the peak and was currently being traded at $2.14 with a market capitalization of $69.31 billion.
Cardano hourly chart
The above chart of Cardano shows the drops seen by the markets recently. Although the price dropped from a peak of $2.47, it has now managed to hold on to $2.13. Though the overall market looked strong, short-term indicators predicted a correction.
As the price traded right above the support at $2.10, a fall could push it under the level and close to the next immediate support at $2.02.
ADA market unlike many other altcoins markets was showing reduced volatility. Convergence of Bollinger bands was indicative of this trend. The signal line was moving lower, tracing the movement of the candlesticks.
As the price remained above the current support for a long time, there were chances that the price would breach support. The relative strength index was noting that selling pressure which was maintained close to 50 was now heading towards the oversold zone. The rise in selling pressure could push the price lower; however, Chaikin money flow suggested that the money that was leaving the market was now coming back in.
Take profit: $2.01
Stop level: $2.16
Risk to Reward: 1.04
The current Cardano market was suggesting that the consolidating price might be looking to correct again. The indicators were suggesting a rise in selling pressure, which could result in another fall. However, the buying pressure could result in a trend reversal as the CMF highlighted money entering the ADA market.
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Legacy Records, The First Record Label Paying Music Artists In Crypto
From painters to digital artists to musicians, crypto continues to find integration across artistic mediums. Music continues to be a field that is ripe for revitalization, from a business standpoint. Accordingly, a number of different musicians have been releasing songs and albums as NFTs. Now, we have what’s being reported as the first official record label looking to get involved. The label looks to have artists join the ranks of other musicians getting involved in crypto.
In a press release issued to start this week, Legacy Records CEO Keishia McLeod said it came down to “either get involved or get left behind”. McLeod cited unique income stream opportunities for artists and closed by saying that “this is the future, not a trend”. McLeod has stated previously her intent to drive the label to be at the forefront of leveraging emerging technology in music.
There are two major buckets contributing to Legacy’s approach. The first is the most notable, as the label will become the first to offer artists an opportunity to receive their advance and royalty payments in the form of crypto. The second is to engage artists with NFTs, allowing fans to participate in auctions for unique content. The label’s specific plans around NFTs, and number of artists seeking to get paid in crypto, have not yet been disclosed.
As the crypto market grows, both artists and businesses are getting involved | Source: CRYPTOCAP-TOTAL on TradingView.com
Legacy Music’s Broader Business Growth
Las Vegas-based Legacy Records, not to be confused with Sony’s Legacy Recordings, will look to take advantage of the potential press buzz from the announcement. However, in tandem with the release, the label also announced a to-be-name music distributor who has also agreed to pay Legacy Records artists in bitcoin. The label also merged with New Jersey entertainment lawyer Navarro Gray’s ‘The Gray Firm’, to provide legal guidance around digital execution.
McLeod has noted previously that the label has desired being a mainstay in revolutionizing the way music artists do business. In a January interview with the LA Tribune, McLeod cited Netflix’s impact on the film industry, adding that “we haven’t seen that yet in this industry, but it’s coming. We’re going to be a large part of making that happen”.
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Music Artists Emerging Into Crypto
Legacy’s roster has the potential to join a growing list of music artists that continue to engage with crypto and NFTs. Last month, we wrote about long-time hip-hop artist Eminem partnering with Nifty Gateway to release original instrumental beats. Saturday Night Live promptly had a sketch explaining the digital collectibles parodying Eminem’s “Without Me”.
Other musicians engaging with NFTs include DJ Premier, 3LAU, The Weeknd, Linkin Park’s Mike Shinoda, and more.
Each week, our team recaps the week’s NFT action with ‘NFTs In A Nutshell‘ – covering everything NFT, from sport, music, and more.
Featured image from Pixabay, Charts from TradingView.com
Coinsmart. Beste Bitcoin-Börse in Europa
XRP, Dogecoin, Chainlink Price Analysis: 17 May
Dogecoin required to counter bearish conditions before a jump above $0.569 resistance. Lastly, Chainlink needed to push above $45.5 to trigger a bullish comeback after a descending triangle breakdown.
Gains made over the last three days were impressive especially considering a bearish broader market, but sellers returned at $1.52-resistance. At press time, the cryptocurrency traded within the channel $1.52-$1.31 and reflected a degree of equilibrium between the buyers and sellers. For those hoping to make profits from a volatile XRP market, ADX’s movement dimmed expectations. Since mid-April, ADX has been on a steady decline and a period of consolidation seemed likely.
RSI hovered in the neutral territory around 50. A symmetrical triangle awaited a breakout to the upside and the Fibonacci tool presented a few target levels above the 200% extension level north of $3 (not shown).
On the daily timeframe, Dogecoin showed some sideways movement as bulls prepared for the next upswing. The channel between $0.523 and $0.373 was bolstered by the 20-SMA (blue) and formed a reliable buy zone should another dip occur.
As mentioned earlier, breaking above $0.569 resistance could trigger another rally in the DOGE market. Steering clear of $0.73-resistance would heighten the chances of DOGE touching $1. However, bearish conditions still presided and had to be countered first before any talks of an upswing. Awesome Oscillator noted bearish pressure after a series of red bars. MACD line remained below the Signal line but a bullish crossover could signal the onset of an uptrend.
Chainlink broke south from a descending triangle and a single candlewick dropped as low as $35.1- representing losses of 14% from the bottom trendline. Now below its 50-SMA (yellow) on the daily timeframe, bearish sentiment could lead to another sell-off towards $31 for LINK. On the other hand, some buying volume was noted on the 4-hour timeframe. A pickup in volumes and buying pressure could lead to a resurgence above $45.5 and this would likely push LINK beyond $50. A broader market recovery could act as a catalyst for such a price swing.
Meanwhile, RSI’s lower highs confirmed weakness after LINK formed a peak at $52.9. Even though Chaikin Money Flow dipped over the past couple of days, the index was still well above the half-line as capital inflows outmatched outflows.
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