Lately, the founding father of BIKA had a In-depth One-on-One Dialog on the subject of Elevated volatility within the crypto market supplies higher alternatives to revenue for each long- and short-term merchants.
“Monetary derivatives of cryptocurrencies have developed into being a really main part at the moment as Blockchain is steadily gaining acceptance. Due to the large market and excessive volatility within the cryptocurrency area, we and different traders have a tonne of probabilities.”
A number of cryptocurrencies elevated in worth throughout 2020 and 2021, with the value of Bitcoin as a benchmark reaching as much as $65,000 per coin. This introduced consideration to the Blockchain market. In different phrases, should you personal simply 15 bitcoins, you’ll be price $1,000,000 immediately. In an effort to alter the world, this has led to the creation of quite a few tasks and enterprises dedicated to advancing consensus growth in blockchain expertise and crypto digital belongings.
Since its launch, BIKA has attracted 2 million registrations, making it one of many vital exchanges.
Augustin, the founder and CEO of BIKA, in addition to the instigator of Silicon Valley Creation Capital and the BIKA New York World Blockchain, is most comfortable of getting chosen the correct course for progress slightly than launching an trade with a large consumer base. A lot of enterprise house owners and traders shamefully left the market in 2022, a 12 months marked by excessive market volatility. The Blockchain business witnessed the failure of numerous startups and traders, together with quite a few well-known tasks and buying and selling platforms that had been in operation for years. With its futures buying and selling, BIKA was capable of increase its firm primarily based on 2 million customers. Augustin had the imaginative and prescient of “security first, consumer first, and repair with coronary heart and soul, making each effort to set a brand new benchmark for futures trade” when he first based BIKA. He determined to pay attention extra of his efforts on perfecting the product and offering top-notch service. Together with his elite staff on the entrance strains, Augustin continues to be working nonstop.
Augustin’s sturdy understanding of market tendencies has helped BIKA increase swiftly. Volatility shouldn’t be all the time a nasty factor, as it may well sometimes current entry factors from which traders would possibly take benefit, as Augustin all the time acknowledged.
Q1: The conclusion of the ETH 1.0 interval and the transition from POW to POS had been marked by the completion of the ETH 2.0 merge on September 15, 2022. The mining gear utilized by the earlier miners will quickly be changed into scrap, and the brand new miners are enthusiastic about Ether’s future. What are your ideas on ETH 2.0?
A: Truly, there are a selection of views on this matter and the way the ETH 2.0 merger would possibly affect Ethereum’s growth. To begin, it’s necessary to know Ethereum’s present downside and ache level. Congestion and exorbitant prices had been issues previously. Since Ethereum’s final function is to develop right into a supercomputer, we should be sure that each software operates successfully. If the first Ethernet community can’t be broadly used due to unreasonably excessive prices and site visitors, Ethernet progress will likely be restricted. Consequently, with out a appreciable rise within the variety of functions, the 2 issues of Ethereum’s congestion and charges can’t be overcome. As soon as these points are resolved, extra DAPPs will likely be adopted and used, which is able to trigger a rise in each their quantity and their consumer base.
The ETH 2.0 merge fixes these issues by altering the brand new Blockchain’s basic elements to a proof-of-interest, fractional, and new beacon chain named “beacon chain.” This means that we’ll start to desert the huge, power-guzzling mining rigs in favor of the fast, power-saving, and transaction-verification-free on-chain staking mining. The cost for every transaction is decreased in ETH 2.0, which impacts its value construction at POS.
With the assistance of the Ethereum replace, the higher Blockchain eco-system will profit from having the underlying public chain expertise in addition to new software situations and consensus help.
Q2: Although there will likely be bounces throughout that point, standard cryptocurrencies like BTC and ETH are falling, and lots of pessimists see this as the start of a bear market. Because the market has developed, Bitcoin has continued to fall under everybody’s expectations this 12 months, from $40,000 to $30,000 to round $20,000 now. How would you fee that?
A: The value decline doesn’t point out that the digital foreign money is coming into a winter; slightly, it’s extra of an financial system self-adjustment. Like an adolescent affected by a chilly, the digital foreign money is growing however must be repeatedly worn out so as to create antibodies and grow to be stronger. You will need to recognise that the abrupt adjustments out there are additionally serving to Blockchain and digital belongings get higher consideration. Folks will even sense extra values and enterprise logic on this sector if they’re now not restricted by value.
Blockchain and cryptocurrency sectors are too inflated and ethereal for rule-breakers and people missing the abilities required to outlive within the cutthroat market. The monetary disaster could also be serving to the sector advance by eliminating extra pointless, non-consensus ventures. In such a clear sector, the outbreak is predicted.
Q3: One other usually held notion is that the Federal Reserve will increase rates of interest by greater than 75 foundation factors on the finish of September, which is able to result in the greenback strengthening, a lower within the inventory market, a decline within the worth of gold and collectibles, a dramatic decline within the worth of cryptocurrencies, and a significant exodus of traders from the market. What affect do you suppose the coverage could have on the belongings held in crypto?
A: Coverage formation is a giant concern for us as enterprise house owners and professionals. Over the previous two years, COVID-19 has affected the financial methods of the vast majority of international locations, and the USA has additionally skilled inflation for a wide range of causes. With a purpose to struggle inflation, the Federal Reserve could must dramatically improve rates of interest. The Fed’s coverage has an affect on each side of the monetary world for the reason that U.S. greenback is the dominant foreign money. Moreover, on account of this impact, crypto belongings are beginning to play a much bigger function on the earth of economic investments, identical to the inventory market, gold, and so forth. We now have a staff of consultants working to rapidly reply to conditions and make judgments by researching the consequences of serious international insurance policies.
This autumn: Buyers in cryptocurrency belongings are extraordinarily pessimistic throughout a market downturn since their belongings are being harmed and most of them are fluctuating in worth to the acute, which places traders’ psychological well-being in danger. Based on the information, the typical web return for bitcoin house owners this 12 months is -60%. In your opinion, ought to traders do within the present market to reduce their losses and even perhaps improve their features?
A: Futures buying and selling as monetary derivatives could also be your best option for traders when the market is weak and overly unstable.
Futures buying and selling permits traders to wager in opposition to the long run ups and downs of digital currencies with out having to own any bodily cash, maximizing funding earnings via futures leverage. As extra traders address market instability and the rising prices of investing in BTC or ETH, for instance, everybody begins to really feel scared. The present market is in an oscillation. The enter of spot can solely be constructive, however provided that the marketplace for buying and selling digital belongings is turning into more and more established, it should be spot plus futures. Numerous macroeconomic and coverage components could have an growing affect on the information. Consequently, the marketplace for investing in digital belongings will regularly mirror market and financial realities. It’s necessary to make use of each prolonged and concise sentences. As a substitute, traders could go for a short-term or long-term investing technique relying on the general market atmosphere and information to find out the present market pattern and attain at an affordable evaluation and funding. Shorting can’t be acknowledged to attenuate losses.
Q5: Why did you resolve to start out on the futures trade? The crypto digital sector affords a variety of different enterprise prospects, together with these within the media, market evaluation, quantitative buying and selling, decentralized finance, decentralized storage, spot exchanges, and extra.
A: As somebody who has labored on this discipline for greater than 8 years, I can communicate from firsthand expertise. I’ve additionally been concerned within the funding and commerce facet of the enterprise as a result of it’s inconceivable to separate the expansion of an business from the development of a strong infrastructure. With the assistance of this facility, you might also perceive the observe in your query.
As a result of quickly increasing measurement of the digital foreign money market, which is attractive increasingly folks to take part out there, there may be an growing want for funding administration of digital belongings.
This market hasn’t but shaped an unmistakable prime, however futures buying and selling is already being provided by sure heads of spot buying and selling, and it has an enormous quantity of room to develop. Regardless of the supply of exchanges that present Blockchain asset circulation for the entire market and the imperfect basic dynamics of the futures market’s growth on the time, an expert derivatives trade continues to be missing out there.
Buying and selling quantity has grow to be a extra standard approach to put money into digital currencies for the reason that market collapse. A specialised derivatives trade is due to this fact required out there.
In actuality, I mentioned that many futures exchanges at present place a higher emphasis on advertising and marketing than on creating skilled and high-quality merchandise, which makes them uneven and vulnerable to a variety of issues. My objective is to ascertain a baseline for the derivatives observe.
Q6: For the time being, many exchanges provide contract buying and selling options. Intense competitors exists on the futures observe; does BIKA possess any benefits?
A: To start, BIKA Change is a worldwide digital asset buying and selling platform that gives a safer and quicker digital asset derivatives buying and selling service to international customers. Although the futures observe is extremely aggressive, we have now our personal full product and repair methods. We’re assured that we’ll stand out within the futures buying and selling discipline by offering higher consumer service, higher items, safer asset safety, and a extra skilled crew.
For instance, the BIKA customer support system is extraordinarily responsive, bilingual, and out there across the clock to help purchasers with any issues they might have. We now have created BIKA Labs to offer every day quotes, macroeconomic evaluation, protection of serious occasions, present affairs, and so forth. to our customers. BIKA additionally supplies distinctive options like Tremendous Futures, One Click on Copy Buying and selling, and different transactions to boost the consumer expertise total. Crucial issue is that we maintain ourselves accountable for shielding our customers’ belongings and transactions via safety, requirements, and compliance. I’m happy to report that the staff has continued to comply with the plan from the time of the inspiration till the current. We additionally repeatedly enhance our danger management and repair SOPs. BIKA is for certain that it may well do higher regardless of the competitors.
Q7: Now that almost all of 2022 is thru, many companies are beginning to put together for the remainder of the 12 months and the one after that. What targets does BIKA have going ahead? What recommendation do you provide for different cryptocurrency traders and platform customers in gentle of the market’s latest growth and basic decline?
A: Enhancing providers and modernizing merchandise are the 2 key focuses of our planning. First, we’ll proceed to construct on our dedication to offering 7×24 customer support by including info providers, market evaluation providers, multi-channel buyer care, VIP skilled service, and extra main added-value choices. Second, we’ll introduce extra options with the objective of bettering the present choices. With a purpose to set up a complete service and multi-functional one-stop crypto asset buying and selling platform, this contains launching the PC terminal, extra spot high quality tasks, bettering OTC perform, launching contract buying and selling part, monetary administration, decentralized mining, and so forth. We respect all the help from our customers. All customers are our product expertise officers, our energy, and our sharers as BIKA expands, helping within the enchancment of our platform.