The Art of Shilling – Earn 1000 USD And More of Passive Income on Bitcoin / Cryptocurrency Related Trading Sites

Referral money from 2016-09-13 to 10-08

Referral money from 2016-09-13 to 10-08 (http://simplefx.biz/)

Shilling referral links… something which has been around the internet since ages. In earlier days, it was for random browser games, only giving progress in the game as incentive to spread those links. Cryptocurrencies and trading of these has pushed the affiliate business onto a whole new level: not only gives spreading reflinks financial incentive for the link’s owner – on most platforms, you’ll earn on each trade the referred persons make (either by spread or by trading fees), but most modern platforms also give incentive for users to actually use referral links, because you’ll get rewarded with lower spreads or fees than you’d get if you registered without using a referral link.
In this post, I’ll explain some methods to spread your reflinks successfully, so your Bitcoin wallet will hopefully soon gain weight similar to mine. I’ll go into details of what methods worked for me and which didn’t (so you don’t have to find that out for yourself), and I will give you some helpful information about how you can also start earning 4 digit amounts of USD in a month, or maybe even more.

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BTC Piggy Bank – An Idea For Those Who Believe in Bitcoin Long Term

I probably haven’t mentioned it publicly, but in December 2015, I became the most recent member of The Daddy Club™. Got a sweet, little, healthy daughter which changed my life in so many (positive) ways.
Those of you who are already members of said club might know that after birth, 1.) you suddenly become unappealing for anyone who visits you or gets to see you when the baby is with you and 2.) any possible presents and assiduities from friends and relatives go directly to the baby – which is part of the consequence of you becoming unappealing.

So, the baby was there and we got good wishes, congratulations etc from all people around us – and a bit of money here and there, so we can “buy something we need for the baby”. But as we already had most of what we needed, I thought that I could either use that money to buy myself a new notebook (hey, I’m just kidding; I wouldn’t do that!) or invest that money. So I decided to use any money we got from friends and relatives for our baby to directly buy Bitcoins and put it into a wallet, securely stored on a Ledger Nano hardware wallet.

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An Introduction to Trading on SimpleFX: Part 1: Setup an Account

Today, I will give you an extensive introduction to trading on my favorite trading platform, SimpleFX.

I like this broker a lot, and I’m using it on a regular basis for a variety of reasons:

  • the user interface is one of the best I’ve seen so far (everyone who is using the common cryptocurrency exchanges knows what I mean)
  • there is a MetaTrader 4 (MT4) integration
  • you can set your leverage as needed (up to 500x)
  • they have one of the best affiliate programs I have encountered

So, let’s get started: the registration process

The registration process is simple and straightforward. First, open an account on SimpleFX (using referral links benefits both sides – the one referring as well as the referred person) by clicking the green button “CREATE ACCOUNT” on the top right navigation bar.

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Ethereum Logo

The Ethereum / Ethereum Classic “Replay Attack” explained

In the recent days – when Ethereum’s Ether-blockchain forked into ETH and ETC – we could not do else but read the term “Replay Attack”. If you wondered what exactly a replay attack is, continue to read. I will explain.

The basis of the Replay Attack is the fact that all wallets which contained Ether at the time of the fork will credit their corresponsing Ethereum Classic wallets with ETC. So, if you had, say, 100 ETH in your wallet, then you’ll be credited with 100 ETC.
But that’s not an automatic process (well, it is, but only under certain circumstances): it only works on exchanges which support the quasi-new Ethereum Classic chain.

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Ethereum Classic

Ethereum Classic Trading Has Launched

Tonight, ETC (Ethereum Classic) trading has launched on Poloniex. Some folks have decided to stick to the principles of blockchain and not support the idea of just rolling things back for minor purposes. That’s when Ethereum Classic was born.
Reasoning behind the creation of ETC was the strong belief that the resolution of the DAO debacle was handled “in the worst way possible”, and that there’s still a significant minority opposition which was against the DAO bailout hard fork:

“The main goal of the project is to ensure survival of the original Ethereum blockchain. We will strive to provide alternative for people who strongly disagree with DAO bailout and the direction Ethereum Foundation is taking their project. Anyone opting to remain on the original chain should have such opportunity.” – ethereumclassic.github.io

Plans are to continuously develop the Classic fork and “maintain upstream patches similar to the relation between Redhat and CentOS, until a community can form around the project and create a road map”.

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Ethereum Logo

Why I Stopped Trading Ethereum

First off: Ethereum is – compared to many, many other cryptocurrency projects – a great project, and its tokens, Ether, are being traded on the exchanges for quite some time, now. With price moving up and price moving down. But as Ethereum gained more popularity, the down phases suddenly became rare. Volumes of 1.000 BTC only on Poloniex became common, and soon, the daily amount being traded increased well into the five figures – sometimes even close to 100.000 BTC on a single day.
Yes. That’s right. 10.000.000 USD worth of traded Ether and more, and an increase in value of 60x the IPO price. People (that being traders, “investors”, regular shitcoiners and what not) were in a great mood and shorting Ether became the new synonym for financial suicide. Things were great and lots of profits were made (as long as you didn’t have that stupid idea of shorting Ether).

Bad news, security incidents or anything that would earn any other cryptocurrency you can think of a horrible death didn’t seem to affect Ether. Users in crypto related chatrooms were preparing their shorts (“It just has to dump on this!”), just to find themselves being margin called later on. I have refrained from shorting ETH after two small failed attempts, but what happened there just didn’t feel right.

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Bitcoin, Cryptocurrency and other Exchanges

I will give you a list of a couple of cryptocurrency exchanges which have been around for some time and can thus be used with as little risk as possible.

bitfinex.com

Bitfinex is an exchange which offers Bitcoin, Litecoin and Ethereum trading. With those three, you can use your account to do the following:

  • Spot trading: buy or sell any of these cryptocurrencies.
  • Margin trading: you can also trade USD, BTC, LTC and ETH on 3.3x margin. For more information, I will include a tutorial on margin trading later.
  • Lending: You can use your funds to provide liquidity to the markets (for the margin traders) and get a certain percentage paid daily.

okcoin.com

OKCoin is a Chinese exchange which also provides an international version of its exchange. You can trade Bitcoin and Litecoin against US Dollar.
OKCoin is famous for its insane leverage (10x and 20x) on its Futures. There’s rumor (especially on Twitter) of people who made a lot of money trading OKCoin Futures, but there are also stories of users who have lost a lot of money there.

20x (well, even 10x) is a lot – even more so on a currency like Bitcoin which already has a lot of volatility on its own – and you should only trade there if you know exactly what you’re doing.

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