Cryptocurrency

How to Trade ATOM on Bityard

Cosmos (ATOM) powers an ecosystem of blockchains designed to scale and interoperate with each other. Same as Helium aims to create the “Internet of Things”, ATOM aims to create the “Internet of Blockchains”. The interlinked blockchains will be able to communicate in a decentralized way. ATOM is a PoS (Proof of Stake) token which grants holders to maintain the network by staking their tokens. ATOM staking will reward ATOM.

At the moment, all blockchain communication happens through tacked-on solutions, such as sidechains and bridges. The Cosmos Stargate update will enhance blockchain interoperability.

Contract Trading

The contract trading is the method of trading that aims to gain profit from market volatility. This method allows the user to forecast if the price of an asset will go up or down, involving leverage.

The traders are not buying or selling the asset, only speculating the price and forecasting if the value will go up or down. Contract trading can bring profit quicker than holding assets but the risk involved with this type of trading is higher. Bityard has two different types of Contract Trading: Cryptocurrencies and Derivatives.

The Contract trading is different from spot trading. The trading instrument called contract allows the investor to trade on the price movement of the cryptocurrency, at a future date or and at the desired price. It involves leverage and therefore the traders are not buying or selling the asset, only speculating on the price movement. With a trading fee set at 0.05%, Bityard has trading fees lower than the industry’s average.

In the below scenario, I am forecasting that the ATOM price will drop. Selecting “Short” will open a contract reflecting my choice, at the current value of $13.329. As the price was currently rising, the contract goes against the current trend.

For this transaction I set the leverage at 20x, using 6 USDT for this contract. The 0.05% fee was added to the order. Once confirmed, the ATOM contract was visible in the dashboard. The contract details will include the name of the cryptocurrency, the leverage, the chosen margin, opening price and opening time. As the price continued to rise, the contract was losing value.

The contract will close automatically if the price will raise or drop at the set value, or it can be closed by the user at any time. Closing the contract manually will give the trader the option to reduce the loss or cash out for profit. As the ATOM value kept growing, I chose to go again against the trend, and open two more “Short” contracts. The anticipated price drop happened and I closed all contracts for a minimal gain.

Every crypto asset has it’s own volatility pattern which can be used in the trader advantage. The pattern does not guarantee profit, as the value can rise or drop suddenly, or have a continuous bull/bear run.

  • This is not financial advice!

Why Bityard is different?

Bityard engine is the fastest on the market, processing up to 1 million transactions per second. The exchange is available for both mobile (Android & IOS) and web, and has the lowest transaction fees. The website interface is available in nine different languages with customer support 24/7 via email and live chat.

About Bityard

Bityard is the world leading cryptocurrency derivatives exchange, fully regulated and compliant with international laws, with the main activity in cryptocurrency contracts with leverage and derivatives exchange.

Bityard operates with licenses from four different countries: The USA, Australia, Singapore, and Estonia. The following licenses are regulating the exchange activity: the Singapore’s ACRA (Accounting and Corporate Regulatory Authority), The American Money Services Businesses (MSBs), Estonia’s MTR (Register of Economic Activity) for the European Union, and the Australian Transaction Reports and Analysis Centre (AUSTRAC)

BitYard

BitYard, founded in late 2019 and headquartered in Singapore, is the world’s leading cryptocurrency derivative exchange. As one of the fastest-growing exchanges, BitYard has continuously improved its platform to bring BitYard users many advanced trading services. With the current company slogan "Grow Your Future in the Yard", BitYard is fully committed to helping global traders to invest in their own future through its one-stop financial trading services.

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