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Binary and trade the first option aimed at the crypto market

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Binary and trade the first option aimed at the crypto market

A binary option is a tool in finance where participant parties in the transaction are assigned either of two outcomes depending on the option expiring on the money. It is basically based on a yes or no situation. Cash-or-nothing and asset-or-nothing are the two major types of binary options. Suppose the option expires in the money; the former pay a certain fixed amount while the latter has to pay the underlying security worth. Binary options trading is often practiced on platforms regulated by the Securities and Exchange Commission. Nadex is an example of a regulated binary options exchange in the United States.

A binary option is the first option aimed at the cryptocurrency market mainly because of its benefits.

How binary option works?

An example of how binary option works outside the United States.

The instrument that is mostly used in the trade is a fixed-return or high-low option. The worth of these option indices, commodities, stocks, and foreign exchange can be accessed. The date and time of expiration of the contract and the strike price are also clearly stated. A trader has an obligation to make a call on the possible direction of the market and the price at the time of expiration. If the wage is correct, the trader gets a fixed return. Suppose the wage is incorrect the trader losses the original investment. A broker is the one who discloses the date of expiry, the pay-out, and the risk at the point when the trade is initiated.

Why Binary option in the crypto market?

Availability of contracts both during the day and at night; This obviously makes it easy to access the available contracts at any time of need by an aspiring participant.

Binary options trading can be of use to people of all levels of experience. This is a beneficial step, especially when taken by newcomers in the cryptocurrency market. This has been made even easier in the “binaryetrade.com.”

The open possibility of limiting losses or locking in profits; A participant, who in any case has foreseen a possibility of losing, is allowed to exit the contract early before it expires. He or she can place another order to close his or her position.

Trading Binary options contracts is a simple and easy process. For a long time, it has been a common option even for low-skilled traders. One can also see the contracts that are available to trade at any time. 

Traders are well informed in advance since the strike price, date, and expiration time are clearly stated.

If you want to trade just acess Binaryetrade.

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Blockchain

Trader burns $340,000 in one minute with TrumpCoin

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Trader burns $340,000 in one minute with TrumpCoin

A Memecoin investor had to pay a heavy price for his mistakes. The trader lost over 340,000 US dollars in one minute. How the faux pas could have happened.

Memecoin Trader Loses Over $340,000 in a Minute Due to Fraudulent Transaction

A memecoin trader has reportedly lost more than $340,000 in less than a minute, according to the on-chain analysis service Lookonchain on X (formerly Twitter). The incident involved two transactions on Solscan, revealing a significant financial mishap.

On June 18, the trader attempted to exchange 2,500 SOL (approximately $342,000) for the newly launched TrumpCoin (DJT) using a trading bot. However, instead of receiving the legitimate DJT tokens, the trader was duped into obtaining 92,000 fake DJT tokens created by fraudsters. These fraudulent tokens were worth significantly less than the genuine ones.

The transaction took place through a “fake” liquidity pool on Raydium. This pool was not sufficiently funded and was filled with DJT tokens created by scammers. When the trader attempted to convert the DJT tokens back to Solana, the scam became evident. Unfortunately, by this point, it was too late, and the trader’s initial 2,500 SOL had dwindled to just under 5 SOL—a loss of over $340,000. For the fake DJT tokens, the trader received only $673.

The DeFi (decentralized finance) space is rife with such scams, where fraudsters set up fake liquidity pools to exploit traders’ mistakes. Some decentralized exchanges (DEXes) issue warnings to users about these scams, but trading bots typically do not provide such alerts. This lack of warnings is especially problematic with newly launched coins, where traders can easily fall into the trap of exchanging for the wrong tokens.

This incident highlights the perils faced by crypto investors beyond the usual price volatility. The affected trader remarked on X, “Life goes on,” reflecting a resigned acceptance of the loss.

Despite this unfortunate event, the world of memecoin trading has its success stories. Some traders have achieved remarkable profits in short periods. For instance, one trader became a millionaire in just five hours, while another made a profit of $9.5 million in ten days by trading the celebrity token MOTHER, associated with US rapper Iggy Azalea.

This stark contrast between potential gains and significant losses underscores the high-risk nature of the cryptocurrency market, particularly in the memecoin sector. Investors are reminded to exercise extreme caution and conduct thorough research before engaging in such trades.

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WEMIX3.0 welcomes Sygnum as Node Council Partner “WONDER 18”

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  • Sygnum will contribute its digital asset expertise and operational experience as a regulated bank to further enhance the reliability of the WEMIX3.0 Mainnet
  • The banking group will also participate in its protocol governance and contribute to the expansion of the WEMIX ecosystem

Leading global web3 developer Wemade is proud to announce that Sygnum, a global digital asset banking group, is joining the WEMIX3.0 Mainnet’s Node Council Partners as “WONDER 18”. The NCPs, known as 40 WONDERS (WEMIX On-chain Network of Decentralized Ecosystem Regulators), validate transactions and blocks on the blockchain, while maintaining connections with newly added nodes to ensure the stable operation of the Mainnet. Each new NCP, assigned a number between 1 and 40, plays a critical role in upholding the integrity and security of the WEMIX3.0 Mainnet.

Sygnum will contribute its digital asset expertise and operational experience as a regulated bank to further enhance the reliability of the WEMIX3.0 Mainnet, participate in its protocol governance and contribute to the expansion of the WEMIX ecosystem.

Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. It empowers professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust. The Sygnum team enables this through institutional-grade security, expert personal service and a portfolio of regulated digital asset banking, asset management, tokenization and B2B services.

More information on Sygnum (www.sygnum.com) and 40 WONDERS (www.40wonders.wemix.com) can be found on their official websites.

About Wemade 

A renowned industry leader and innovator in game development, WEMADE is leading a once-in-a-generation shift as the gaming industry pivots to blockchain technology. WEMADE aims to accelerate the mass adoption of blockchain technology, and is building through its WEMIX subsidiary, an experience-based, platform-driven, and service-oriented mega-ecosystem that will offer access to a wide spectrum of intuitive, convenient, and easy-to-use Web3 services. www.wemade.com / www.wemix.com/communication 

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Crypto

Multiplayer Strategy Game “RoboHero” Featuring Seamless Integration of Tokens and NFTs to Launch on WEMIX PLAY

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  • One of the first mobile games with an ecosystem designed to bridge the Web2 and Web3 worlds
  • Set in an immersive metaverse, Robot Factions intensely battle for control over vital resources in a post apocalyptic world
  • Tokens and NFTs are seamlessly integrated into the gameplay, with unique DeFi tools offering a new dimension in Web3 gaming

Leading global game developer Wemade today announced that Estonian game developer DevDream House OÜ will be launching Multiplayer Turn-based strategy game “RoboHero” on the world’s biggest blockchain game platform, WEMIX PLAY (www.wemixplay.com). Set to be launched in the first quarter of 2024, RoboHero is one of the first mobile games with an ecosystem designed for players in both the Web2 and Web3 worlds, available on the Google Play Store and Apple App Store.

In “RoboHero”, the action unfolds in the post-apocalyptic metaverse 31337, where warring robot factions battle for resources. Players choose from one of three factions – ETER, DEUTER, or PLASMA – and three character classes – Tank, Shooter, or Sniper with different fighting styles. Each RoboHero will have unique characteristics that combine base properties, attributes, factions, classes and corresponding bonuses. “RoboHero” also features a meticulously designed character development system in which characters gain experience in battles and, upon meeting specific conditions, evolve to acquire increasingly better statistics.

Players defeat opponents in a duel by inflicting more damage or by taking control of the majority of buildings on the map. Enter story mode (Player vs Environment) and win successive missions to collect NFT items, or join multiplayer mode (Player vs Player) to fight opponents for $ROBO. “RoboHero”, a Web3-based game, offers the following key features:

  • Players can purchase RoboHero robots in RoboHero LootBoxes using $ROBO tokens.
  • Players can choose from two modes of play: Story Mode (PvE) and FightClub Mode (PvP).
    • In Story Mode, players explore new territories, battle bosses, and earn in-game tokens to upgrade their robots and equipment.
    • In FightClub Mode, players can create or join fight rooms to compete against each other for $ROBO tokens.
    • Players can participate in tournaments to compete for additional $ROBO tokens.
  • Players can purchase NFT items, such as energy boosters, helmets, legs, weapons, and grenades, on a special marketplace using $ROBO tokens.
  • Players can create an account on the Marketplace and pair it with the game to manage their robots and NFT items.

More about NFTs – Equipment, Lands, Mines, BillboardsThe game includes numerous NFT implementations, such as lands, billboards, mines and items. 

  • Equipment: Each RoboHero faction has unique equipment NFTs that increase the power, vitality or range of affiliated RoboHeroes that can be found in chests scattered around the RoboHero world. Each RoboHero has three interchangeable pieces of equipment including Helmet, Limbs Armor and Corpus Shield. Legend has it that after completing the entire set of 3 items, RoboHeroes can evolve to a higher form.
  • Lands: Lands play an important role since mines can only be generated on them, while battles and gameplay also take place on lands. They can be purchased and freely traded on the market, with landowners entitled to pooled tokens for every fight that takes place on each land NFT.
  • Mines: The game requires the use of copper, iron, titanium and precious metals (gold, silver, and platinum) in crafting equipment and weapons. As the only sources of these materials, mines play an important role in RoboHero and can be purchased or traded on the market. 
  • In-game billboard ads: RoboHero introduces a new billboard advertising model with 1,000 billboards located on buildings throughout the game landscape. Billboard owners can advertise their own social media accounts and products, or choose instead to rent the advertising space for a predetermined amount per week/month,  or sell the billboard for a profit.

“WEMIX is a great partner for us and its vast gaming industry experience will be a key factor in helping RoboHero deliver new innovations in the Web3 gaming space,” said Jakub Stefanek, CEO of RoboHero mobile game. “As developers we are very excited about the opportunity to work with such a well known company and can’t wait to create the future of Web3 games together.”

Resources:

About WEMADE

Part of the first generation of Korean PC online game developers and Korean mobile game developers, Wemade is at the forefront of the next wave of Web3 game developers that are innovating with blockchain technology. Based on the WEMIX3.0 Mainnet, the WEMIX PLAY blockchain game platform is the world’s biggest with millions of users and a wide range of game genres from card, puzzle, simulation and strategy games; to first-person shooters, battle royale, MOBA, MMORPG, SNG, sports games and more. Visit www.wemix.com/communication for more information. 

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