How to Buy Tether (USDT): A Step-by-Step Guide for 2021

Bitcoin broke past the $60,000 mark on March 13, 2021, to surpass Facebook in total market value. To learn more about this and other stories, keep reading this article.

Bitcoin Hits Over $60,000 and Surpasses Facebook in Value

On March 13, 2021, bitcoin recorded a high of $61,683.86. This is yet another milestone that the cryptocurrency has achieved after recording a series of several all-time highs in the past three months.

Institutional investors continue to boost bitcoin’s price with Chinese firm Meitu being the latest company to purchase crypto. The firm bought $22.1 million in ether and $17.9 million in bitcoin.

“Beeple’s $69 million [non-fungible token] record demonstrates the true power of crypto, adding curiosity and fuel to the retail fire. Expect volatility but a landing of $100K levels by Q3,” said Jehan Chu, Managing Partner of trading firm Kenetic.

Furthermore, bitcoin’s market cap has risen to the eighth position, surpassing Facebook. Currently, bitcoin has a market capitalization of about $1.07 trillion while Facebook has a market cap of $808.76 billion.

Luno Users Can Now Earn Interest on Ether and USDC Savings

Luno users can now add ETH and USD coin (USDC) to their savings wallet where they can earn 4 percent and 7.6 percent APR, respectively. The exchange introduced the savings wallet five months ago allowing users to earn up to four percent on their bitcoin savings.

“The addition of two new cryptocurrencies to the savings wallet gives customers even greater flexibility and potential to earn interest as they grow their crypto savings. A high percentage of Africans who own cryptocurrency do so for speculative investment purposes, with the majority holding their crypto for the long term. If your crypto investment strategy is holding your crypto long-term, the savings wallet earns you additional interest for what you were already doing,” said Marius Reitz, the General Manager for Africa, at Luno.

According to a Luno 2020 survey, more than a third of the respondents (35 percent) were not earning interest on their traditional cash savings. On the other hand, 54 percent were not earning interest on their current bank accounts. As a result, Luno wants to change these statistics with its crypto savings wallet.

The savings feature pays out interest monthly and users can access their savings 24/7. Moreover, 250,000 people are using the savings wallet since its launch.

South African Company Invests in Bitcoin

It is not large companies alone that are investing in bitcoin. According to an article on Tech Central, open-source software firm LSD Information Technology has purchased R2 million in bitcoin (about $135,570.70).

The company’s board agreed to invest in the digital asset on January 4, 2021. In the initial purchase, it bought R1 million in bitcoin then bought the other R1 million over the next two weeks. The firm used the crypto exchange BitFund to buy and hold the BTC.

“Our vision is to make the world more open, and bitcoin supports our philosophy on how we believe the world works best. Working in the open-source space seems to attract many crypto enthusiasts for whom the decentralised open nature of cryptocurrencies appeals,” said LSD founder and CEO Stefan Lesicnik.

The firm participates in running and maintaining bitcoin full nodes.

Hedge Fund Giant Invests In Bitcoin Trust, JPMorgan’s CEO On Crypto Regulation + More News
Hedge Fund Giant Invests In Bitcoin Trust, JPMorgan's CEO On Crypto Regulation + More News 101
Jamie Dimon, the CEO of JPMorgan. Source: a video screenshot

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Investments news

  • USD 48bn hedge fund giant Millennium Management invested in Grayscale Bitcoin Trust (GBTC), TheStreet reported, citing two undisclosed sources familiar with the matter. “While the price premium GBTC long traded at against bitcoin collapsed recently, it’s unclear if New York-based Millennium booked any losses on the crowded trade,” the report added, without providing any numbers about the investment.

Regulation news

  • Jamie Dimon, the CEO of JPMorgan, placed the legal and regulatory status of cryptocurrencies on a list of “serious emerging issues that need to be dealt with – and rather quickly.” Per a letter to shareholders, others such issues include the growth of shadow banking, the proper and improper use of financial data, the risk that cybersecurity poses to the system, the proper and ethical use of AI, the effective regulation of payment systems, disclosures in private markets, and effective regulations around market structure and transparency.
  • A collective of Russian crypto and blockchain players has launched a bid to convince politicians not to pass restrictive a new set of crypto laws, per Izvestia. The new campaign has been masterminded by the pro-business pressure group Investment Russia, the law firm the Digital Rights Center and the public organization RosKomSvoboda, a body that claims to support open self-regulatory networks and protection of digital rights of Internet users. The campaign addresses the country’s finance ministry, Duma financial chiefs, tax bodies and the Central Bank. A manifesto calls for amendments to draft laws that the parties say “will have an extremely negative impact on the Russian crypto industry” if they are adopted.

NFTs news

  • Latvian airline airBalticsaid that it will become the world’s first airline to issue non-fungible tokens (NFTs). The airline will issue limited collector NFTs showcasing an individual Airbus A220-300 with its registration and a piece of art of the Kuldiga city to promote tourism and Latvia in the world. Starting with Kuldīga, the cities and towns which were voted as the people’s favorites will one by one be represented on the digital art pieces issued by airBaltic. The initial drop of the first airBaltic limited NFT will be announced later in April.
  • The seven-time Super Bowl champion Tom Brady is launching an NFT platform called Autograph this spring, CNN reported, citing a representative for Brady. The platform “will bring together some of the biggest names in sports, entertainment, fashion, and pop culture to work with creators to develop unique digital collectibles,” it added.

Exchanges news

  • Blockchain technology company Ebang International Holdings Inc.announced the official launch of its crypto exchange for qualified investors to register and trade on. This launch will “not only expand the revenue sources from our cryptocurrency business but also optimize the development of our blockchain industry chain,” said the company Chairman and CEO Dong Hu.
  • bitFlyer has gotten their third president in two years. The new president is Goldman Sachs alum Kuniyoshi Hayashi, who replaced the outgoing President Kimihiro Mine on March 30, they said.
  • ShapeShift announced support for simultaneously connecting multiple wallets. Per an emailed announcement, users can switch between KeepKey, Trezor, Ledger, Portis, and ShapeShift mobile wallets on the ShapeShift web platform, without needing to reconnect. Support for additional wallets is coming soon, they said.
  • South African crypto exchange iCE3said they “will not return to operation” and that they “have been advised to initiate liquidation proceedings.” “All withdrawals from the platform have been disabled, and we have processed the withdrawals which have already been submitted via the form today, manually. We currently have no withdrawal requests pending for any currencies other than BTC and LTC,” they said.
  • Coinme, a US-based cryptocurrency cash exchange, announced its entrance into Florida with the launch of over 300 bitcoin-enabled Coinstar kiosks located at select Winn-Dixie, Fresco y Mas, Harveys, and other grocery outlets across the state.
  • The Miami HEATsaid it has entered into a long-term partnership with crypto derivatives exchange FTX.us, making this platform “The Official and Exclusive Cryptocurrency Exchange Partner of the Miami HEAT.” This deal works in tandem with the recent announcement that, starting with the 2021-22 NBA season, the home of the Miami HEAT will be known as “FTX Arena.”

Mining news

  • Chinese online lottery company 500.com has acquired Bee Computing, a Hong Kong-registered maker of Bitcoin mining machines, in a USD 100m deal, according to a filing with the US Securities and Exchange Commission (SEC). 500.com will pay Bee Computing USD 35m in stock by the end of the second quarter and send the other USD 65m worth of stock after the company has produced a certain number of 7nm ASIC bitcoin mining machines, as well as made higher performance bitcoin, ethereum (ETH), and litecoin mining machines.

Crypto adoption news

  • A new deal with the Valencia-based crypto exchange Criptan will allow Spanish travelers to make claims for airline-related delays and other incidents – and receive crypto rather than fiat as compensation. Per El Mundo Financiero, the exchange has teamed up with the Wings to Claim platform. The parties will allow travelers to make claims from travel agencies or airlines in situations whereby customers experience delays of three hours or more, lose baggage, if their flights are canceled or overbooked, or if they miss a connecting flight.

Blockchain news

  • Daegu, one of the largest cities in South Korea, has introduced a blockchain-powered ID authentication system for users of its online and offline public services. Per the Daegu Shinmun, the new platform makes use of a smartphone app that allows users to reserve city-operated facilities, make use of city-funded electric scooters and borrow library books using blockchain-based innovations. In a separate development, Law Issue reported that the electricity provider Nambu Power will also make use of blockchain-powered ID solutions on its renewable energy certificates platform.

Legal news

  • Michael Hlady pled guilty before a US Chief District Court Judge to conspiring to extort a startup company for millions of dollars in ethereum. When sentenced, Hlady faces up to 20 years in prison, as well as a fine, said the US Department of Justice. The startup was a mobile-based business that issued cryptocurrency as loyalty rewards for generating user traffic to its clients’ products. Hlady and his co-conspirator Steven Nerayoff issued threats to the company executives that included destruction of the company if they did not agree to demands for additional funds and tokens, claims the press release. As a result of this threat, the startup transferred ETH 10,000 to Nerayoff. He has entered a plea of not guilty to extortion charges and is awaiting trial.
3 Best Crypto Copy Trading Softwares (Cryptocurrency Social Trading)

Do you want to make money from Crypto trading?

And like many others, you are just a beginner in the world of crypto trading. Well, you don’t need to be disappointed as copy trading platforms are here for your rescue. This is one of the easiest ways for anyone to piggybank on the skills of experienced traders and make a passive income. Of course, it comes with the inherent risk of trading, but with a disciplined approach, and by regularly finding top crypto traders, you can definitely ace the game of crypto copy trading.

Name Copy Trading Trading Terminal Bots Supported Exchanges Pricing
eToro Own exchange 5% for withdrawals
PrimeXBT Own Exchange Performance fees
Shrimpy Binance, Bitfinex, Bittrex, KuCoin

Coinbase pro, Gemini and more
$19/month
3Commas Binance, Bybit, Bitmex and more Variable plans

But, What the heck is Copy trading?

Copy-trading is copying the trading strategies or trades of someone else. Usually, it is experienced traders who are constantly generating more profit than losses. While we are at it, you should know that Copy trading is also known as social trading or mirror trading. Essentially, they all are one of the same things.

This copy trading software’s automate buying and selling of crypto assets by mitigating the original trades of professional traders. You as a user only need to deposit an initial capital which could be as low as $50, select an expert trader on one of these cryptocurrencies social trading platforms, and from here on everything will be automated.

  • People who are beginner prefers copy trading method as this way they can rely on the expertise of experienced traders.
  • Copy trading could be automated or could be manual. It is much better when it is automated.

If you are a pro-trader, you can offer your service via these social trading platforms and earn a profit when people copying your trades make a profit. The best part; everything is automated and you would be a sort of acting like a hedge fund.

Now there is no end to the number of platforms that offer copy-trading (social trading), but like always I will make your search easier by suggesting only the best copy trading platforms. So buckle up to learn something new and start earning from trading even when you have no prior experience of trading.

Best Crypto Social Trading platforms to use for Profit:

1. eToro Copy Trading feature:

eToro social trading is quite popular among beginners who are looking to start with copy trading feature. eToro deals in various markets including cryptocurrencies and the first thing you need to do is get an account here.

Once you have activated your account, inside your dashboard select “Copy people” and select “Crypto” under the “who invests in” tab. See the below screenshot for a better understanding:

There are various filters to help you find a trader whom you can copy. My recommendation is to look for a trader who is giving consistent returns over a long period, ex: 12 months.

Hovering over any profile would give you more details about the traders, and this is useful to understand the trading style of a specific trader.

You can further click on any profile to see their detailed stats which include performance over time, their existing portfolio. Once you have found the trader you wish to copy, simply click on copy and you would be asked to add the funds.

Do note that there is a feature called “Stop copying” which is similar to “Stop-Loss” feature, and helps you save yourself when things go south.

Once everything checks out, simply move ahead and deposit funds. You can deposit funds on eToro via various methods, including PayPal.

With expected valuations of $10.4 billion, and the company going public soon through a blank-check company, eToro is an ideal choice for any new investor looking to leverage social trading for extra gains.

2. PrimeXBt Covesting:

Covesting is a social trading platform which is not directly integrated with PrimeXBT that is another upcoming exchange. This union helps you to enjoy the power of social trading directly inside PrimeXBT exchange. PrimeXBT also offers a trading terminal as well, that you can use to make trades other than social trades.

Like eToro, PrimeXBT lets you trade Bitcoin, S&P 500, Gold, EURUSD, and 50+ assets. With the Covesting social trading feature, you can choose among best-performing strategies and automatically copy their trading activity to get the same returns. And if you are an experienced trader, you can earn up to 20% of all profits earned by your followers.

Getting started with the PrimeXBT Covesting feature is simple and here is how to go about it:

  • Create an account on PrimeXBT (No KYC required at the time of writing)
  • Fund your account using any of the accepted cryptocurrencies. (USDT, ETH, BTC, USDC, COV). My suggestion is to use BTC, as most of the copy traders are using BTC as a funding mechanism.
  • Select Covesting from the top menu bar, and use filters to find an ideal trader to copy.

You can click on any name to see more stats about their profile. Here you will find all information you need to pick a professional trader, such as performance stats, manager equity (The amount of own money the trader has put in), followers equity, Win ratio, description of the trader, and the profit distribution.

Once you have found a trader that you wish to copy, click on follow and enter the amount you want to start with copy trading.

  • Note: You can use the COV token to reduce the entry fees.
  • Note: Please be informed that following a strategy using the Covesting module involves the risk of capital loss. Following a strategy could result in a partial or complete loss of your funds, therefore, you should not operate with funds you cannot afford to lose.

Overall PrimeXBT Covesting platform is one of the top social trading platforms out there, and something you as a beginner might like to start with.

3. Shrimpy Social Trading:

Shrimpy is an automated tool to manage your portfolio, and also offers a social trading feature that is quite popular. You can automatically copy the top crypto traders using Shrimpy. I have discussed Shrimpy earlier here.

Shrimpy offers both free copy trading and premium copy trading. Premium leader fees are additional fees that are charged for following a leader. Each leader can charge these extra fees for following one of their portfolios. The premium leader fees are charged by Shrimpy on a monthly basis. The two different fees that leaders can charge include “Performance Fees” and “Assets Under Management Fees”.

Shrimpy is available as a subscription model, and the cheapest plan is only $19/month.

What I like about the Shrimpy is the social aspect of it. The leaders here are more open for communication, and many of them do maintain the trading journal which gives more transparency to their trades.

Shrimpy is a cryptocurrency social trading platform, and let you copy trades from top traders on the following exchanges:

and a few more crypto exchanges.

To use the Shrimpy social trading feature, you need to connect your favorite exchange to Shrimpy using the API feature. If you have never done this before, watch the below video to understand how to generate the API key for Binance and then connect to Shrimpy or similar platforms.

Once you have connected your exchange to Shrimpy, head over to the social feature. Filter the leaders based on the Exchange and their performance.

You can click on any of the leaders to see more details about their strategy, performance, allocations, and other vital details that would help you choose the right leader to copy for social trading.

Once you have found a reliable leader to follow, click on follow leader and allocate a portion of fund to start copy trading.

I know a few of CoinSutra readers who are using Shrimpy for social trading, and they are pretty happy about it. However, I found the interface to be not as simpler as what PrimeXBT Covesting offers, but that could be just my point of view.

Conclusion: Best Crypto copy trading platforms

As the cryptocurrency market maturing, we can expect more similar platforms. However, for now, these are the best social trading platforms you could use to copy trades from the top traders.

If you are looking for a single recommendation, I would suggest you to start with PrimeXBT Covesting as it offers some great data and has a proven track record. eToro is also quite popular, which you can explore along with PrimeXBT.

I would keep updating this resource to help you updated with the top platform for social trading, but for now, I have a few questions for you:

  • How’s your experience with Copy trading?
  • What are the pros/cons of social trading?
  • What measures do you take to minimize the risk when copying the trade of others?

And, last but not the least;

  • Which other platforms are you using for social trading?

Does Binance offers social trading feature?

At the time of writing this resource, Binance does not offers the social trading feature. However, they do offer a future leaderboard and it may have this feature enabled soon.

Weekly Roundup: Bitcoin Hits over $60,000, Luno Launches ETH & USDC Interest Accounts

Bitcoin broke past the $60,000 mark on March 13, 2021, to surpass Facebook in total market value. To learn more about this and other stories, keep reading this article.

Bitcoin Hits Over $60,000 and Surpasses Facebook in Value

On March 13, 2021, bitcoin recorded a high of $61,683.86. This is yet another milestone that the cryptocurrency has achieved after recording a series of several all-time highs in the past three months.

Institutional investors continue to boost bitcoin’s price with Chinese firm Meitu being the latest company to purchase crypto. The firm bought $22.1 million in ether and $17.9 million in bitcoin.

“Beeple’s $69 million [non-fungible token] record demonstrates the true power of crypto, adding curiosity and fuel to the retail fire. Expect volatility but a landing of $100K levels by Q3,” said Jehan Chu, Managing Partner of trading firm Kenetic.

Furthermore, bitcoin’s market cap has risen to the eighth position, surpassing Facebook. Currently, bitcoin has a market capitalization of about $1.07 trillion while Facebook has a market cap of $808.76 billion.

Luno Users Can Now Earn Interest on Ether and USDC Savings

Luno users can now add ETH and USD coin (USDC) to their savings wallet where they can earn 4 percent and 7.6 percent APR, respectively. The exchange introduced the savings wallet five months ago allowing users to earn up to four percent on their bitcoin savings.

“The addition of two new cryptocurrencies to the savings wallet gives customers even greater flexibility and potential to earn interest as they grow their crypto savings. A high percentage of Africans who own cryptocurrency do so for speculative investment purposes, with the majority holding their crypto for the long term. If your crypto investment strategy is holding your crypto long-term, the savings wallet earns you additional interest for what you were already doing,” said Marius Reitz, the General Manager for Africa, at Luno.

According to a Luno 2020 survey, more than a third of the respondents (35 percent) were not earning interest on their traditional cash savings. On the other hand, 54 percent were not earning interest on their current bank accounts. As a result, Luno wants to change these statistics with its crypto savings wallet.

The savings feature pays out interest monthly and users can access their savings 24/7. Moreover, 250,000 people are using the savings wallet since its launch.

South African Company Invests in Bitcoin

It is not large companies alone that are investing in bitcoin. According to an article on Tech Central, open-source software firm LSD Information Technology has purchased R2 million in bitcoin (about $135,570.70).

The company’s board agreed to invest in the digital asset on January 4, 2021. In the initial purchase, it bought R1 million in bitcoin then bought the other R1 million over the next two weeks. The firm used the crypto exchange BitFund to buy and hold the BTC.

“Our vision is to make the world more open, and bitcoin supports our philosophy on how we believe the world works best. Working in the open-source space seems to attract many crypto enthusiasts for whom the decentralised open nature of cryptocurrencies appeals,” said LSD founder and CEO Stefan Lesicnik.

The firm participates in running and maintaining bitcoin full nodes.

The hedge fund management module Beta is now live on PrimeXBT

The moment so many Covesting users have been waiting for is finally here: Beta The investment fund management module is now officially available on the PrimeXBT trading platform.

Last year, PrimeXBT announced a B2B partnership with the Covesting team, who has been developing the project since the company’s inception. The Fund Management Module beta is now ready for first-time users.

What investment fund management module offers to the trading community

This innovative new tool is unlike anything else found in the crypto market and allows highly experienced traders to make money for newbie investors.

The end result is that there are two types of traders that profit together, in a synergistic and meaningful way.

Imagine being able to invest in the trades of a legendary professional trader like Peter Brandt, and be able to profit from the positions and trades he does based on his experience in technical analysis and its transaction over 40 years.

Inexperienced traders looking to utilize and capitalize on the knowledge and experience of more veteran traders can simply invest in one of the top trader’s hedge funds and sit back to see the benefits. The profit increases in the strategy of the more experienced traders.

Fund managers make a portion of the profits of any income generated and investors leave their money and other traders to work for them. The better the public performance rankings of each fund, and the more the trader markets the fund to his or her followers, the overall earnings may increase for all stakeholders.

Covesting has created a unique peer-to-peer environment, designed to allow any trader to start his or her career as a fund manager. However, since all traders of different levels of experience will be allowed to create a margin trading related fund, these investments carry additional risks. All investors are recommended to conduct an extensive analysis before investing in any fund on the Hedge Fund Management Module by looking at performance in the Rating section.

It is important to understand that even the most successful traders cannot guarantee a sure return in the future, so diversifying investments across multiple funds is often the most effective strategy and there is no. risk.

Covesting and PrimeXBT will enable investment functionality later this year.

Report bugs and set an early name for your fund

PrimeXBT is rolling out the Investment Fund Management Module as a beta program to initiate a subset of users.

Their goal is to allow these early beta users to thoroughly test the platform to help discover and report any bugs on the platform, and possibly start early to generate funds.

Beta testers interested in helping shape and improving the platform through bug reporting can contact PrimeXBT via a 24/7 live support chat and report all bug details to see. review.

In addition to allowing users to try out the system early, the best part about the Hedge Fund Management Module beta phase is to allow fund managers to start early to fund creation, increase performance ratings and availability. ready for investors when the flood outlet is open at full launch.

Fund management module participating in other profitable tools on PrimeXBT

PrimeXBT and Covesting clients interested in registering for the Investment Fund Management Module beta, must first be registered users of the PrimeXBT platform.

Once registered, users can request early access to the Hedge Fund Management Module beta by entering their email address here.

Users with access to the beta program will be able to Create Funds, Manage Funds, view Public Ratings, and access Portfolio performance data. During the testing phase, no investments can be made to allow plenty of time to track performance unfolding so investors can make informed decisions about which funds to choose. .

The Fund Management Module beta is now available on PrimeXBT. Sign up for the hedge fund Management Module beta today and let us know in the comments what you think about the new tool!