Many people are looking to get their hands on as much cryptocurrency as possible these days. They feel they are stocking up for an upcoming explosion of cryptocurrency value that will only be seen once in a lifetime. While it is unknown what the future brings for this speculation, opportunities are arising that are providing some real chances to get some sweet sweet cryptocurrency. Coinbase is helping to feed the hunger of these crypto-crazy individuals by educating them about the various coins in the hopes of future investments based on the noble technology of the coins.
Coinbase has been very popular lately. It has offered enthusiasts the opportunity to earn crypto with it’s Coinbase Earn program. Coinbase Earn launched earlier in 2019 and allows current Coinbase customers the chance to earn cryptocurrency like 0x, Zcash, Dai and Stellar Lumens. This week, Coinbase upped their game by issuing current customers a chance to score up to $50 in EOS through their earn program.
Coinbase Earn works by having the customer watch very short and easy to follow videos detailing a specific cryptocurrency. Once the video is complete, customers are given a very easy quiz question to answer. For each correct answer, the customer is issued a certain quantity of cryptocurrency into their wallet. In some cases, you can earn even more cryptocurrency by inviting friends to come take the quizzes as well.
EOS was recently added to Coinbase. Several short months afterwards, they opened up their Earn program to customers and offered $10 in EOS upon completion of their quizzes. This week, Coinbase upped the ante and is now issuing customers an opportunity to earn up to $50 in EOS. To join Coinbase earn and start earning free altcoins, click this link. You must be a current Coinbase member to take advantage of this opportunity. If you are not yet a Coinbase member and want to take advantage of this Coinbase Earn promotion, you can first join here and make a $100 purchase (will receive $10 in Bitcoin for free). From there, you can be a part of the fun. Be sure to follow me on twitter @MarcusHenryHODL and let me know if this opportunity worked for you!
Marcus Henry is an American Journalist with over 11 years working in the tech industry. He has been actively involved in the crypto community for the past three years and currently works out of Austin, Texas. He covers breaking news, writes perspective pieces and reflections, and conducts interviews with industry professionals and community members. Follow Marcus Henry on Twitter- @MarcusHenryHODL
Disclaimer: The information above does not constitute investment, financial, trading or any other sort of advice and you should not treat any of my content as such. I do not recommend the purchase, sale, or holding of any cryptocurrency or other product and nothing I write about should be deemed as an offer to purchase, sell, or hold a cryptocurrency or other product or service. Please do your own research and consult a certified financial professional before making any investment decision.
Coinbase Launches Exclusive Crypto Trading Signals To Help Investors Make Smart Decisi
- Popular crypto exchange Coinbase announced today that it was adding 3 new trading signals to its native UI so as to help users maximize their returns.
- With this latest move, the firm is trying to attract a new wave of day traders and investors who may be looking to enter the crypto market.
As per an all new blog post released by the folks over at Coinbase earlier today, the premier crypto trading platform has just released three new trading signals that are designed to monitor the buy/sell activities of its users in an automated manner. The announcement has been met with a lot of fanfare and many experts believe that this move will help boost Coinbase’s popularity even more within the global crypto community.
More On The Matter
According to the above linked announcement, Coinbase is providing its users with three new technical indicators that contain niche’ data such as:
The total number of ‘buyers and sellers’ who are currently in the top ten percent (i.e. holders) of people owning a certain alt asset.
The average no. of days that a trader holds on to his/her assets.
The ranking of each crypto commodity by its total number of owners.
The correlation between the values of different alt-assets.In regards to the matter, a spokesperson for Coinbase made it clear that the point of this entire exercise was to allow individual investors to get in line with upcoming market trends in a seamless manner. He then went on to add:
“We want trading signals to help first-time investors build the right portfolio to suit their investment goals. Similar to traditional market sentiment indicators, this information is intended to provide more context for customers rather than impact the broader market.”
- While such activities certainly do look appealing to the average investor, some experts are of the opinion that by revealing the trade activities of its top crypto holders, Coinbase was playing with fire — since the move could dissuade experienced traders from using the premier trading platform.
- In a similar vein, certain insider sources who wish to remain unnamed at this time believe that most day traders will quite likely not adopt these signals.
- A recent study by Coinbase has shown that during the 2017 bull season, a BTC buy-in strategy (that was based on the activities of top holders) allowed investors to incur better returns when compared to other strategies that included buying fixed amounts of Bitcoin.
- However, this exact same strategy when applied to ZRX (over the same time period) was found to result in a loss of around 2%.
Coinbase Launched Price Prediction Tool
The Coinbase exchange revealed today a tool which predicts crypto market moves by aggregating data from its own exchange.
The tool will use indicators derived on the activity of large trading whales, the average hold time for a given asset, and the performance of “correlated” cryptos.
According to a blog post, Coinbase.com will offer free service starting with today. Even though the exchange admitted that it no one can forecast “what crypto prices will do,”Trading Signals was designed “to provide accurate, objective measurements of cryptocurrency usage based on the aggregated and anonymized activity of millions of Coinbase customers.”
Traders often analyze sentiment to try to predict cryptocurrency markets. Social platforms usually show bullish or bearish sentiment, with prediction markets such as Augur and Gnosis allowing traders to wager on future prices.
Coinbase has three types of “trading signal.” The first one is called “top holder activity” and it tracks the movements of Coinbase’s top ten percent users in a 24-hour period. By monitoring the big trades of the platform, this could help users find possible future market trends.
The second trading signal is based on the crypto’s “popularity,” by determining the length of the period for which a crypto token was kept on Coinbase’s wallets on average. But Coinbase warns again that this is not an accurate way of predicting popularity.
“Keep in mind that Coinbase has a wide diversity of customers, with a variety of factors driving their asset hold times and which assets they find interesting,” says the exchange.
The last trading signal is “price correlation,” which tracks the movements of coins and alert users of cons with similar trajectories.
Even though trading signals are helpful tools to formulate a trading strategy, one should not completely base its trading on this, as no one can predict the crypto market.
Coinbase Presents Three Trading Signals for the Users
Coinbase has come up with three trading signals that will help the platform users make use of better and well-informed trading strategies. The three trading signals introduce by Coinbase includes the top holder activity, the typical hold time and popularity, and the price correlation. The main aim of the new offerings is to develop better insights among the users to create enhanced trading strategies simply. Coinbase also announces that it will offer the metrics along with the traditional market data that it has been providing. The offered metrics will allow the investors on Coinbase to have a better understanding of the user behaviors on an anonymous form as well as in the aggregate form.
The Importance of the Trading Signals
The top holder activity will simply reflect the buying percentage as well as the selling percentage. It will allow the users to gain an idea about the top holder’s action. This signal is effective in informing and updating the users about the buying and selling of particular assets on the Coinbase by the top holders within 24 hours. 10 % of owners on Coinbase form the top holders. The information keeps updating every 2 hours. If the position of the top holder increases within 24 hours, it indicates that they are on the buy-side. And if the position of the top holders decreases, it signals that they are on the sell-side. This trading signal keeps updating the users about the performance of the top holders, which keeps changing in 24 hours.
The signal of typical hold time and popularity indicates the median number of days that a particular asset on Coinbase stays with the customer’s account before the asset gets moved or sold to another wallet or address. The popularity indicator is nothing but a simple ranking that shows the number of Coinbase customers holding a particular asset. This signal also keeps updating every 24 hours.
The price correlation indicator
The indicator of price correlation measures the changing prices of the cryptocurrencies in comparison to each other. This indicator keeps updating every 24 hours. The price correlation is updated in the form of a percentage. When the movement of the two coins is exactly similar, then the correlation is expressed as 100%, and when there is no correlation between the coins, the correlation is expressed as 0%. And in the case of the movement of coins in perfectly opposite ways, the correlation is -100%. This indicator easily and quickly throws light on the coins that move in the different ways on Coinbase.
The Note-worthy Consideration
It is noteworthy that in the smaller markets of Coinbase, it is easy for someone to make manipulation to the indicator of top holder activity in certain cases. When money gets thrown for causing manipulation in the crypto market, it’s possible for the inquisitive individuals to explore and bend the metrics of the top holder activity as per their will. It is even a surprising fact that manipulation can be quite easy in the case of some particular assets.