All About CryptoUnity’s CUT Token – What Is It and How Does It Work?
Many exchange platforms have their own exclusive coin or token. An example of this is Binance Coin (BNB) created by the makers of Binance. BNB is bought and sold on the platform and used for trading fees. CryptoUnity has its own token too, named CUT. It’s an important part of our platform and allows our users to benefit from holder rewards.
Let’s take a look at what CUT is, what it does, and how it works.
What is CUT?
The CUT token – built on the Binance Smart Chain and serving as CryptoUnity’s native asset – is a utility token created with specific functions in mind. Buyers can purchase or sell it through our platform but those who decide to hold their CUThave plenty of extra advantages. Let’s explore some of these benefits.
Lower Commission Fees
When trading on our exchange, CUT holders can enjoy a reduced commission fee. The more CUT they hold, the smaller the commission fees, providing them with greater returns from their investments. As a CUT holder, you’re in a much better position to maximize your profits.
Participate in ICOs
Are you curious about Initial Coin Offerings (ICOs)? These are opportunities where a brand-new cryptocurrency is released before it hits any exchanges. CUT holders will have exclusive access to upcoming ICOs on our Research Launchpad. It means if you’re a CUT holder, you can get your hands on the best deals first!
We believe that education is the key to a successful crypto journey. That’s why CUT holders will also be able to unlock advanced courses and gain access to exclusive events hosted by CryptoUnity. These events, which include tutorials, workshops, webinars, and seminars, provide insight into the world of crypto trading, and are an invaluable resource for those who are just getting started.
Create, Buy, and Sell NFTs
NFTs, also known as Non-Fungible Tokens, are digital assets that can be bought, sold, and traded. An example of an NFT is a crypto art piece – digital artwork that can be bought and sold on the blockchain. CryptoUnity allows CUT holders to create their own NFTs, including buying and selling them on the platform.
Holders will receive 2 % of every trade or purchase. This means you’ll be rewarded for holding CUT. So, the longer you hold it, the more you’ll be rewarded.
Airdrops and Giveaways
Airdrops, bounty hunts, and crypto giveaways are popular events where tokens are handed out for free to participants. CryptoUnity holds these events regularly, and as a valued CUT holder, you can join them all.
CUT Helps You Get More Out Of CryptoUnity
So, there you have it – a quick introduction to CryptoUnity’s CUT token and how it can benefit you as a holder. As you can see, there are plenty of incentives for holding CUT. Lower commission fees, participating in ICOs, access to workshops, the ability to create and buy/sell NFTs, passive rewards, airdrops and giveaways is only the beginning. CUT really helps you get the most out of CryptoUnity!
As our platform grows and develops, we plan to introduce even more benefits to CUT holders. We want to reward everyone who supports us, and CUT is our way of saying ‘thank you’. So what are you waiting for? Get your CUT and join the CryptoUnity movement!
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Is FTMO.com Scam? Does it really work?
FTMO is a proprietary trading firm that onboards traders who successfully manage to complete its two-step evaluation process. The first step is the FTMO challenge, which is followed by the verification process.
In this FTMO review, you can find detailed information about the process, including how it works and what costs are involved. At the end of the day, this article should help you decide whether or not this is the right trading platform for you.
FTMO Review – Pros
- Low minimum deposit of $155
- Profit ratio up to 90:10
- Free trial account available
- Free repeats if you fail the challenge or verification
|Address||Purkyňova 3, 110 00 Prague, Czech Republic|
What is FTMO?
FTMO is a proprietary trading firm that offers traders a placement within its company if they complete a two-step evaluation process. If you manage to successfully complete the challenge and verification stages of this process, you will be given an account balance of $400,000 to work with once you officially become an FTMO trader.
It is an EU company that launched in 2014 and is run from Prague, Czech Republic. The company uses its own profits to fund trader accounts and accepts players from 180 countries worldwide. To date, there are over 10,000 onboarded traders on the FTMO platform.
FTMO review – How to Trade
Before becoming a fully-fledged trader at FTMO, you need to complete the two-step evaluation process. If you are new to trading, it’s a good idea to use the demo account first, which provides a miniature version of this challenge. Additionally, there are also educational tools to help you along the way.
There are three stages to trading at FTMO, which are:
1. FTMO Challenge
3. Become an FTMO trader
You need to pass each stage before you can move on to the next, and there are strict profit targets of 10% of your starting account balance that must be met. Passing each stage isn’t necessarily easy, and requires time and effort. However, you can repeat each stage for free if you fail to reach your targets the first time around but don’t breach any trading objectives.
In this section of the article, you can find a more detailed step-by-step guide to the trading process.
Create an account with FTMO
Creating an account with FTMO can be done quickly and easily. You can register within a few clicks using your Google, Apple or Facebook account. Alternatively, you can fill in the form by clicking on the “Register” button and entering the following details:
- First name
- Last name
You then need to enter and confirm your password and verify your account via the email that will be sent to you instantly. Always make sure to check your spam folder, just in case.
Once you have created your account and verified it using the link provided in the email, you can log in using your email and password. Once logged in, you have the main menu and all areas of your account to the left of your screen. To begin a new challenge, you need to click on the blue “New FTMO Challenge” button and enter your preferred trading account specifications.
FTMO Verification Process
As stated above, when you first register your account, you just need to verify it via your email address. Once you successfully complete the FTMO Challenge, you need to move on to the verification stage, which is the second of the two-step evaluation process. Once you get to this stage, you will be sent new login information via email.
The verification stage is similar to the FTMO Challenge itself, only that your profit targets are reduced by half, to 5%. Moreover, you have a full 60 days to complete it – though if you pass it in less, the verification period will end and you will become an FTMO Trader. The verification process is simplified as it is designed to test your consistency as a trader.
How Does FTMO Work?
FTMO works with a two-step evaluation process that allows successful applicants to become traders using $400,000 of the company’s profits. The first and most important phase is the FTMO Challenge, which is also the hardest to pass. However, you can repeat this step for free as many times as you like, as long as you still meet your trading objectives and stay in profit.
The FTMO Challenge stage runs between 10 and 30 days, with an additional 14 available if needed. If successful, you move on to the verification stage, which you have 60 days to pass. However, the minimum period is 10 days. Effectively, the most successful applicants can become traders after just 20 days. However, realistically, you should expect to need at least the full 90 days – especially if you are an intermediate or novice trader.
FTMO Challenge Review
You can start the FTMO Challenge with an entrance fee as low as $155, which gives you an account deposit of $10,000 to work with. Here, you will be set a challenge with rules and targets. To pass this stage, you have to meet a profit target of $1,000 within the 30 day period. The maximum losses permitted are $500 per day and $1,000 per week.
Failure to meet your profit target within the time or losses made below the set limits will result in you not passing the challenge. However, as said before, you can repeat the challenge without paying a fee to reenter.
To set up the FTMO Challenge, you can configure the following elements:
- Account currency – Choice between USD, EUR, GBP, CHF, AUD, CAD and CZK
- Risk mode – Normal or aggressive
- Account balance – $10,000 – $200,000 (USD)
- Account type – FTMO or FTMO Swing
- Trading platform – MT4, MT5 or cTrader
Before you can complete the process and start the challenge you will need to enter your billing information and payment currency. You then need to check the boxes to confirm that you have read the T&Cs and the cancellation and refund policy. It is strongly recommended that you read both documents carefully before progressing.
FTMO Payment Methods
In order to begin the FTMO Challenge, you will need to pay a fee, which will be funded to those who successfully complete the challenge. These fees start at $155 for a $10,000 account balance, and range up to $1,080 for $200,000.
You can pay your fee using the following payment methods:
|Payment Method||Transfer Time||Fee|
|Bank transfer||2- 5 business days||Varies between banks|
|Confirmo||Up to 24h||3%|
|Unlimit||Up to 24h||3%|
FTMO Review – Payouts
If you successfully pass the evaluation process – challenge and verification – you will start off with a payout ratio of 80:20. In other words, you keep 80% of all trading profits that you make. FTMO sets out scaling conditions for all traders, and if they are met, your payout ratio can increase to 90:10.
Additionally, you will also be given an extra 25% account balance to trade with. Profits are paid out on a monthly basis and your payout ratio can be re-evaluated based on scaling and performance.
Does FTMO Really Pay?
Yes, FTMO does payout on a monthly basis, based on the profit ratio that you are on – as explained above. You can choose to withdraw it every single month, or you can do so on a payout-on-demand basis. Additionally, you have the option to change the profit-split day for each withdrawal up to a maximum of three times. This will be explained in more detail below.
How to Cash Out on FTMO?
You can choose to cash out your profits on a monthly basis, with your first cashout option being available 14 days from the first trade made on your FTMO Trader account. There is no minimum profit required in order to cash out or alter your ratio. The rise from the 80:20 to the 90:10 profit split is solely determined by meeting the targets required to follow the scale-up plan and not the size of your profit.
FTMO Review – Withdrawal
When your profits are paid to you each month, you will receive an invoice that you have to confirm, once that is done, you can request a withdrawal. Once your invoice has been confirmed your withdrawal payment should be processed in one to two business days plus the time required by your payment provider. FTMO doesn’t charge any commission fees for withdrawals.
You can withdraw profits from FTMO using the following payment accounts:
- Wire transfer
Does FTMO Have an App?
Yes, there is an FTMO app that you can download to all up-to-date iOS and Android cell phone and laptop devices. You can find the app on the App Store and Google Play. At 83.4 MB for the iOS version, the app is a little bit on the heavy side.
However, for a trading app with this many features packed in, that is to be expected. That being said, you do still need to be sure that you have the memory space available on your phone.
While you cannot use the MT4, MT5 or cTrader platforms on the app, it does have all of the features found in the “Client Area” of your FTMO account. This means you can manage your account, track your trades and use educational trading tools while on the move.
FTMO App Features:
- Evaluation process
- Real-time statistics
- Economic calendar
- Equity simulator
- Automatic trading journal
- Account analysis
FTMO Customer Support
The FTMO customer support team can be contacted in five different languages through the following mediums:
- Live chat
- Support email
- Phone line
Response times are quick, helpful, pragmatic and informative. You might not receive the warmest responses in the world, but you should find that the service is extremely efficient.
There is also an FAQ section that is well laid out and contains helpful answers to pretty much all standard account and trading-related issues. If you make good use of this tool, you should only need to contact customer support for specific issues related to your account.
FTMO is also active on the following social media channels:
The FTMO website has an extremely modern design that is very easy to follow for new, intermediate and experienced traders. The FTMO Challenge model is quite unique, but you can follow an entire explanation and step-by-step guide simply by scrolling down the home page. Alternatively, you can use the menu bar at the top of your screen to skip to different sections.
The layout of the website uses icons, infographics and stats that help to take you on a journey. All explanations are short and simple, meaning that you will get an overall idea of how the platform works even if you have zero prior knowledge of trading.
Once you are logged in, the client area of your account is very user-friendly. Every area of your account is always available on the left-hand side of your screen, with the main information being displayed down the middle. Overall, the site is simple enough for newer traders, whilst having plenty of tools to satisfy those with more experience.
How to Delete Your FTMO Account
You cannot completely delete your FTMO account, as the company requires them for future records – this is explained in the terms and conditions. Instead, you can hide your account by completing these steps:
- Log in to your FTMO account
- Go to Client Area
- Under the “Actions” header click on the blue “Hide Account” button
Conclusion – Is FTMO Legit?
The high ratings and reviews from current traders suggest that FTMO very much is the real deal. However, the two-step evaluation process is deliberately difficult to pass, especially the FTMO Challenge stage. If you are willing to put in the time and effort required, then there is a realistic chance of making a profit on this platform. If you are a new trader, it is definitely worth making use of the educational tools and the demo account before paying to start the FTMO challenge.
Key takeaways from this FTMO review:
- Challenging evaluation process with 10% profit targets
- Low entrance fee compared to similar sites
- Profit ratio of 80:20 to 90:10
- Free repeats for both evaluation steps
- Fee refunded upon successful challenge completion
As explained in the main article, the starting payout ratio at FTMO is 80:20, which can rise to 90:10 if the scaling plan is followed. According to FTMO, the average monthly income for traders is $4,000 for account holders in the US.
FTMO was founded in Prague, Czech Republic in 2014, by three day traders. The company is still based in Prague to this day and now accepts users from 180 countries worldwide.
If you fail the FTMO Evaluation process the first time, you will be given a second chance for free so long as no trading objectives have been breached. In order to qualify for a free second chance, your account must be in profit at the end of the challenge period with all positions closed. This applies to both the Challenge and Verification steps.
FTMO has educational courses and tools that can help beginner traders, and after a little bit of study, you can make use of the demo account before starting the FTMO Challenge. However, the challenge has strict rules and deliberately isn’t that easy to pass. If you are a beginner, then you need to be willing to put in the time and effort.
|Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.|
Elon Musk To Work With Vitalik On Dogecoin Upgrade, DOGE Price Spikes!
Since the start of the year, Dogecoin, the largest memecoin by market capitalization, has had a pretty bad run. Naturally, that is because of the prolonged bear run. However, David Gokhshtein has brought back attention to Dogecoin and it is now surging.
David, the founder of Gokhshtein Media, believes that the cryptocurrency community may see a partnership between the CEO of Twitter, Elon Musk, and Ethereum co-founder, Vitalik Buterin of Ethereum to upgrade Dogecoin (DOGE).
“They won’t work on Bitcoin — well, because Vitalik tried that in the past and was kicked, and Elon is interested in turning something that started as a joke into something serious,” he added.
The rise of Dogecoin may be largely attributed to Musk’s long-standing interest in cryptocurrency, which he frequently acknowledges in tweets and has accepted as a form of payment for some of the goods and services provided by Musk’s companies.
One of the prominent board members of the Dogecoin Foundation, who supported the currency’s growth, is Buterin. When the eagerly anticipated Merge update was successfully implemented on Ethereum, Buterin suggested that Dogecoin should be the next cryptocurrency to switch from Proof of Work.
In addition, Buterin gave Dogecoin Community a contribution of 20 million DOGE in November following a gift of 500 ETH in May. An organization called DogecoinFdn exists with the purpose of promoting DOGE through development and advocacy.
Dogecoin still aims for the moon
Dogecoin continues to grow despite the 2022 crypto winter and currently ranks among the top ten cryptocurrencies by market cap. A crucial development in the Dogecoin ecosystem was updated by Mishboar, a Twitter account dedicated to memecoin.
The core updates 1.14.7 and 1.21 are the two main releases that the Dogecoin development team is currently working on. These two improvements will lay “a foundation for Dogecoin’s future,” according to Patrick Lodder, a core developer for the cryptocurrency.
At the time of writing, Dogecoin is up by more than 10 percent and is trading at $0.089.
Thailand SEC Bring New Regulatory Frame Work on Crypto operators – Coinpedia – Fintech & Cryptocurreny News Media
The Securities and Exchange Commission (SEC) of Thailand is bringing in new measures for the regulation of crypto operators in the country.
It is reported that the Thai SEC might ban or prohibit digital asset depository services provided by crypto operators and the platform’s payment of returns on user-deposited cryptocurrencies that are used for lending or reinvestment.
These measures are being introduced by the Thai SEC to safeguard the interest of traders and retail investors in the crypto market. This comes after the liquidation of some major crypto exchanges and the crash of the crypto market. Several crypto lenders, who had promised high-interest rates to depositors went bankrupt due to the crypto crash.
What has the SEC proposed?
The Thai SEC has proposed the prohibition on conducting any activities which might promote lending or deposit-taking services by crypto exchange platforms, including advertising and public solicitation. It also plans on prohibiting the crypto exchanges to accept digital assets and paying the depositors with returns.
After the liquidation problems faced by Zipmex, a crypto exchange, in July 2022 made Thai SEC come up with stringent regulations. Zipmex had to pause the deposits and withdrawals on the platform and had a strong presence in Southeast Asian countries.
The Thai SEC inquired about the losses faced by the public due to the liquidation of Zipmex and also took feedback from the users through an online forum. Even though Zipmex had promptly resumed its withdrawal for Thai customers, it still concerns the SEC. The SEC has filed a police complaint against Zipmex last week.
In order to completely adhere to the essential standards and security measures, Zipmex exchange assured that they are working with the regulators.
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How does Crypto Lending Work? Benefits and Risks
Cryptocurrency lending has grown in popularity over the past few years. More and more people are hearing about this exciting new type of investing, and more projects are popping up to help improve their experience. As per the latest trends, this space is expected to rise even further with more and more people coming forward with their lending capabilities. Many people find it hard to understand how crypto lending works and what they can do with this advanced technology. This guide will outline how cryptocurrency lending works, the benefits and risks involved with it, and the kind of project you should be looking at before putting money into one.
What is crypto lending?
Crypto lending is a new type of financing that allows you to earn interest based on the value of your crypto assets. Private lenders take custody of your assets and use them as collateral for loans. They then return at least some portion of your investment every day until the loan is repaid. Crypto lending is a simple concept that enables you to borrow cryptocurrency with a payment plan. You are basically lending your crypto to a lender and getting it back after a set period of time.
There are two reasons this type of loan can be advantageous: It allows borrowers to make use of their digital assets elsewhere, like trading or buying more altcoins – without having to sell their own crypto. Secondly, the interest rate is lower than regular loans which means there are no hidden fees associated with this type of financial product. Learn how crypto lending works with this step-by-step guide to crypto lending in easy-to-understand terms.
Types of cryptocurrency
A cryptocurrency is a digital or virtual currency that is protected by cryptography, making counterfeiting or double-spending practically impossible. Many cryptocurrencies are decentralised networks built on blockchain technology, which is a distributed ledger enforced by a network of computers. Using this technology, participants can confirm transactions without needing a central clearing authority. Potential applications include fund transfers, voting, settling trades, and others.
There are thousands of different cryptocurrencies in circulation and the figure keeps increasing. Part of the reason why is because of the way cryptocurrencies can be created. The source code of one can be used to build another. Cryptocurrencies are often not issued by any central body and making them potentially immune to government interference or manipulation. Below are the main types of cryptocurrency.
Bitcoin is considered the first cryptocurrency created which is designed to act as money and a form of payment outside the control of any one person, group, or entity, thus removing the need for third-party involvement in financial transactions. Bitcoins are rewarded to blockchain miners for their work done to verify transactions and can be purchased on several exchanges.
Bitcoin has become the most well-known cryptocurrency in the world, and its popularity has inspired the development of other cryptocurrencies. Competitors attempt to replace it as a payment system or used it as a utility in other blockchains and emerging financial technologies.
Tether is a cryptocurrency stablecoin pegged to the US dollar and backed “100% by Tether’s reserves. It’s owned by iFinex, which is a company from Hongkong that owns the crypto exchange BitFinex. Currently, it’s the third-largest cryptocurrency after Bitcoin and Ethereum, and the largest stablecoin with a market capitalisation of almost $83 billion.
Ethereum is a technology for building apps and organisations, holding assets, transacting, and communicating without being controlled by a central authority. You won’t need to hand over all your personal details to use Ethereum. You’ll be able to control your data and what is being shared. Ethereum also has its own cryptocurrency, Ether, which is used to pay for certain activities on the Ethereum network.
Just like Bitcoin, Ethereum lets you use digital money without payment. But Ethereum is programmable, which means that you can also build and deploy decentralised applications on its network. It’s more like a marketplace of financial services, games, social networks, and other apps that respect your privacy.
Terra is the blockchain technology that houses the LUNA coin and associated stablecoins like TerraUSD. The LUNA coin is used as a protocol token to reduce the volatility of the stablecoins on the Terra blockchain.
The aim of Terra was to create stablecoins to combine the decentralized freedom of cryptocurrencies with the stability of fiat money. However, due to the faults in Terra’s ecosystem, LUNA saw a massive crash in its price.
XRP is the native cryptocurrency of XRP Ledger, which is an open-source, public blockchain designed to facilitate faster and cheaper payments. If a person uses XRP as a bridging currency, it’s possible to settle cross-border transactions in less than five seconds on the open-source XRP Ledger blockchain at a fraction of the cost of the more traditional methods.
XRP Ledger is a permissionless network of peer-to-peer servers that powers XRP operations. It intends to act as a bridge between hard-to-match currencies. So if there are no market markers on the network willing to trade shekels for shillings, one can sell the shekels for XRP and then use XRP to buy shillings.
How does crypto lending work?
Crypto lending lets users borrow and lend cryptocurrencies with interest. Borrowers can instantly get a loan and start investing just by providing some collateral. When the collateral falls below a certain value, they will need to top it up to the required level to avoid liquidation. When the loaned amount plus a fee is returned, the capital is unlocked. They can also get collateral-free loans known as flash loans, which must be paid back within the same transaction. If the borrower cannot do this, the lending transaction is reversed before it has the chance to be finalised. Crypto loans make borrowing and lending simple, and the process is completely automated by smart contracts.
Benefits of cryptocurrency loans
- Capital is easily available. Anyone who can offer collateral or refund the cash in a flash loan or quick cash loan is eligible for a crypto loan. This makes them easier to get than a regular financial institution loan, and they won’t look at your credit score.
- Loans are managed using smart contracts. A smart contract automates the whole loan and borrowing process, making it more efficient and scalable.
- It is simple to get passive money with minimal effort. Borrowers may store their cryptocurrency in a vault and start earning without having to handle the loan themselves.
Risks of crypto lending
- Depending on your collateral, you have a high danger of liquidation. Even with heavily collateralised loans such as car loans, crypto values might decrease unexpectedly, resulting in liquidation.
- Smart contracts are vulnerable to cyber-attacks. Badly constructed code and back-door vulnerabilities might lead to the loss of your loaned amount or collateral.
- Borrowing and lending might put your wealth in danger. While diversifying your portfolio is a smart idea, doing so via crypto-backed loans introduces additional risks.
Things to consider
You’ll have the highest chance of success with a crypto loan if you choose a reputable crypto lending platform and reliable assets as collateral. But, before you lend or borrow, keep the following points in mind:
- Understand the dangers of transferring custody of your crypto holdings. Once the funds leave your wallet, you must rely on someone else (or a smart contract) to handle them. Projects can be the subject of hackers and fraud, and your funds may not be instantly available for withdrawal in such situations.
- Before lending your cryptocurrency, consider the market circumstances. Your coins may remain frozen for an extended length of time, making it unable to respond to crypto market downturns. Lending or borrowing with a new platform can be dangerous as well, and you may be better off waiting until it gains more trust.
- Read the loan terms and conditions carefully. There is a variety of choices for where to obtain loans like secured loans. You should seek lower interest rates as well as more advantageous terms and circumstances.
Cryptocurrency may be a good investment if you’re ready to recognise that it’s a high-risk bet that might pay off – but also that there’s a big possibility you’ll lose it all. Cryptocurrency prices have been decreasing in 2022 as a result of a global crypto price meltdown. Before you purchase and sell digital currency, understand the risks so you can decide whether it is a smart investment for you and your personal finances. It is critical to proceed with caution when investing in bitcoin or other cryptocurrencies.
Marjorie Hajim is the SEO Manager for Friendly Finance. Friendly Finance is a leading loan matching service in Australia specialising in consumer finance. She loves growing businesses with a focus on their online presence and is passionate about organic growth and all things digital.
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.