Leading up to the holiday season, the BingX team is here to announce a new Christmas event filled with fun surprises!!

Event Schedule: 00:00 Nov 26, 2021–00:00 Dec 26, 2021 (UTC+8)

Event Details

1. Check in to Win Christmas Surprise Boxes

1) Check-in consecutively for 1, 3, 7, 15 & 20 days to get Christmas Surprise Boxes that contain a bonus prize, with a possibility of obtaining Christmas NFT Shards. Users can later merge these shards to obtain an exclusive BingX NFT. Obtain all 5 NFTS and exchange them for up to 1000 USDT!

Note: If you miss a day, your daily check-in will be reset; So make sure you don’t miss out on any days!

a. The Surprise Boxes in this check-in event can be claimed repeatedly. But the higher the streak you have, the better the rewards you’ll be getting from these boxes.

Example: User A checked in for 6 days consecutively and got the Surprise Boxes on Day 1 and Day 3. However, user A missed the daily check-in on Day 7, resulting in a reset of the daily check-in counter. When user A checks in again on another day, user A will be able to get the Day 1 Surprise Box again.

2. Trade to Win Christmas Surprise Boxes

Christmas Surprise Boxes will be unlocked to users whose cumulative trading volume hits a certain level during the whole duration of the event. (Surprise Boxes for each milestone can only be obtained once)

Note:

a. The statistics of trades with a holding period of less than 1 minute and trades performed by using bonuses are excluded.

b. Only USDT-margined Contract trades are included in the statistics of this event.

3. Trading Competition (Individual Rankings)

(available only upon successfully Signing-up)

1) Sign-up Notes

To participate in the Individual Rankings, please read the following tips carefully.

a. There are two separate rankings for this Individual Match, Profit Rate Rankings and Profit Rankings.

b. All deposits and withdrawals during the event will impact the statistics of users’ profit rate.

c. The prizes of Individual Rankings will be issued within 48 hours after the event.

d. BingX reserves the right to disqualify any users involved in unfair activities, including but not limited to: multiple accounts, impersonation, malicious manipulation.

2) Terms & Conditions

a. Event Start Date: 00:00 Dec 11, 2021 (UTC+8)

Event End Date: 00:00 Dec 26, 2021 (UTC+8)

b. Sign-up is required to join this event. Users will get a bonus if they sign up successfully before the event starts.

c. The statistics of trades with a holding period of less than 1 minute and trades performed by using bonuses are excluded.

d. This Individual Match is separated into Profit Rate Rankings and Profit Rankings. Prizes will be issued based on the final ranking lists.

Profit Rate Ranking Calculation

a. Profit Rate = [Net Assets at Settlement — Other Incomes — (Initial Net Assets + Deposits) + Withdrawal] / (Initial Net Assets + Deposits).

b. Initial Net Assets: The users’ NAV at the starting point of the event (unrealized PnL included).

c. Current Net Assets: The users’ NAV at the ending point of the event (unrealized PnL included).

d. Deposits: Accumulated deposits during the event, which includes deposits, transfer, exchange, invitation commission, and bonus profits.

Note: Only USDT-margined Contract trades are included in the statistics of this event

Prize List

Profit Rate Rankings (TOP10)

Total Profit Rankings (TOP10)

(The prizes of Individual Rankings will be issued within 48 hours after the event）

Any users involved in unfair activities, such as using multiple accounts or impersonation, will be removed.

BingX reserves the right to the final interpretation for this event.

4. Trading Competition (Team Rankings)

1) Event Start Date: 00:00 Dec 11, 2021 (UTC+8)

Event End Date: 00:00 Dec 26, 2021 (UTC+8)

2) Sign-up Notes

Users can choose to build/ join a team in the Team Rankings; the decision is irrevocable. A minimum of 5 members is required to start a team. Team Rankings will be based on the total team profit, and prizes will be issued based on the final Ranking.

a. Team Leader Requirements: Account Assets ≥ 100 USDT and a total trading volume > 5,000 USDT from the start point of sign-up to the start point of the Team Rankings.

b. Leaders of the Top 50 teams in terms of member number will be awarded the limited edition of BingX NFTs.

c. The team with less than 5 members will be disbanded automatically once the event starts, and the users will not be able to join another team thereafter.

d. After joining a team successfully, users cannot change their team or quit the original team.

3）Event Details

The statistics of the Team Rankings will include all positive profit generated from the members.

Prize List

20% of the prize pool will be allocated to the leader. The remaining 80% will be shared among the team ( leader included) according to the ratio of a member’s positive profit amount to the sum of the team members’ positive profit amount.

Team Profit Calculation

Team Profit Amount = All positive profit generated from the team members

Member Profit Amount = [NAV (Unrealized PnL included) — Initial Net Assets (Unrealized PnL included) + Cumulative Withdrawal during the Event — Cumulative Deposit during the Event]

Deposit: Cumulative Deposit during the Event (including transfer, bonus, fee, asset exchange)

Withdrawal: Cumulative Withdrawal during the Event (including all withdrawal and asset exchange)

Initial Net Assets: The net assets in the user’s Standard Contract Account at the starting point of the event.

How to Join a Team?

All registered users can join any team by simply clicking the “Join” button on the Teaming Rankings page.

Please note after joining a team successfully, users cannot change their team or quit the original team.

The team with insufficient members will be alerted 24 hours before the event starts. Any teams with less than 5 members will be disbanded automatically 10 minutes before the event begins.

Disclaimer: The market analysis provided by any team leaders does not represent the official opinion of BingX. BingX will not be liable for any losses incurred by any team member.

How to Become a Leader?

Click the “Build My Own Team” button on the Teaming Rankings page to create your own team.

You can invite friends to join your team via the invitation link once you have successfully started a team.

If your team has less than 5 members, it will be disbanded automatically 10 minutes before the event starts.

5. My NFT

1）Limited Edition NFTs

The limited edition of 500 BingX NFTs and 100 BingX Christmas NFTs will be issued for this event, obtainable via Surprise Boxes or Individual Rankings Prizes. Additionally, the NFTs can be exchanged into USDT at the official buyback rate or withdrawn to the users’ wallets. (buyback or withdrawal of NFTs to your wallet will end within 48 hours after the event. Please perform the mentioned transactions in time.)

BingX NFT Specification

2）NFT Introduction

NFT means Non-Fungible Token. It is collectible and has a transaction value.

Common tokens such as BTC, ETH are fungible. There is no difference between each BTC or ETH and they are interchangeable. In contrast, the significant feature of NFT is that each NFT has a unique and sole identifier, which is non-interchangeable.

Due to the irreplaceable characteristics of each NFT, it has a collection and transaction value. NFT is gradually receiving more and more attention, with very practical and potential application prospects in the field of games, collectibles, artwork, identity, etc.

FAQ

Q1: How to Check-in?

A: Go to the event’s page, hit the “Check-In” button on the popup to check-in successfully, and get the corresponding reward.

Q2: What if I break my daily check-in streak?

A: If you miss a day, your daily check-in will be reset. Users can claim the corresponding Surprise Box in this check-in event repeatedly.

Q3: How to calculate my cumulative trading volume?

A: Users whose cumulative trading volume hits a certain level will win the Christmas Surprise Boxes. The trading data are updated 1 minute after a position is opened. Please note the statistics of trades with a holding period of less than 1 minute and trades performed by using bonuses are excluded.

Q4: Can I withdraw funds during the event?

A: There are no restrictions on deposit, withdrawal, and asset exchange during the event. However, your profit rate may be affected by the mentioned transactions. Please be aware of possible impacts on your ranking.

Q5: Can I win both the individual and team ranking rewards?

A: Yes.

Risk Warning:

Trading digital assets and their derivatives is highly leveraged and risky and may result in partial or total loss of account funds. Before conducting spot/contract trading, investors must ensure that they understand the nature and rules of spot/contract trading, and decide whether to participate in spot/contract trading based on their investment experience, goals, financial status, and ability to bear risks.

Christmas Surprise Boxes will be unlocked to users whose cumulative trading volume hits a certain level during the whole duration of the event. (Surprise Boxes for each milestone can only be obtained once)

Note:

a. If you miss a day, your daily check-in will be reset; So make sure you don’t miss out on any days!

b. The Surprise Boxes in this check-in event can be claimed repeatedly.But the higher the streak you have, the better the rewards you’ll be getting from these boxes.

Example: User A checked in for 6 days consecutively and got the Surprise Boxes on Day 1 and Day 3. However, user A missed the daily check-in on Day 7, resulting in a reset of the daily check-in counter. When user A checks in again on another day, user A will be able to get the Day 1 Surprise Box again.

2）Trade to Win Christmas Surprise Boxes

Christmas Surprise Boxes will be unlocked to users whose cumulative trading volume hits a certain level during the whole duration of the event. (Surprise Boxes for each milestone can only be obtained once)

Christmas Gala Night, Last Stand 2021! was originally published in BingX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Copy Trading has been one of the greatest unique features on our platform. We are excited to announce that our Copy Trading feature has been elevated to newer and greater heights.

Starting this week, BingX’s copy trading will now implement a new Fund Copy feature that benefits both the users and the Copy Traders. Our new Fund copy feature will connect users from other major exchange platforms by accessing their read-only API. In other words, copy traders are now able to share their trades on other platforms such as Binance, and BingX users will be able to copy their trades! This new feature will be implemented in our next-generation trading service called CopyTrade Pro.

Due to further popular demand, CopyTrade Pro is now available to all users for public beta testing. Update your BingX APP to v2.42.0 to start now!

What Is CopyTrade Pro?

It is a stand-alone copy trading service that enables external traders to directly share their trading strategies on other platforms (e.g. Binance) to BingX.

Copy traders get more exposure and expand their number of followers simply by connecting a read-only Binance API to BingX; while users/ followers get access to more pro traders and a wider range of products, all in the comfort of BingX.

Different to the current “single trade” CopyTrade system on BingX, CopyTrade Pro uses a fund style system, where uses lock a certain amount of assets with a copy trader and trades are made from that pool of funds. This improves capital efficiency and reduces risks due to the cross-margin account of CopyTrade Pro.

Currently, BingX only supports CopyTrade Pro for Binance traders. We will be adding more platforms very soon!

Why CopyTrade Pro?

1. BingX’s new chapter is all about connecting our future generation. But that doesn’t mean that we are limited to only having copy traders use our platform. We plan to help connect experienced traders with newer ones through this new feature.
2. As a result of this new feature, BingX plans to provide algorithmic data for users that use Copy Trading. Users/followers will now be able to access data from other platforms the copy trader uses.
3. Quality traders are selected worldwide. The platform will closely review the copy trader’s assets and long-term historical data to ensure our platform provides the best quality of copy traders.
4. Increased capital efficiency and reduced risks with “fund style” copy trading system.

For a more detailed explanation check out our: CopyTrade Pro Guidelines

CopyTrade Pro — Public Beta Test Reward

Users can send feedback on issues or give suggestions for optimization regarding their use of CopyTrade Pro. If users’ feedback and suggestions are confirmed by BingX, they’ll receive a 10–100 USDT (5x) bonus.

• Please submit feedback and suggestions by Dec 20, 2021 (UTC+8).
• Submission of duplicated or already-recorded issues will not be rewarded.
• BingX reserves the right to the final interpretation for this event.

FAQ

Q1. CopyTrade Pro vs. Copy Trade

Q2. When will the followers’ Copy Trade start after copying a trader in CopyTrade Pro?

1) If the copy trader has already-opened positions, it will only start when they close all already-opened positions and open a new position.

2) If the copy trader does not have any positions in their account, it will start immediately when the copy trader opens a new position.

Q3. Can followers edit the Copy Trade details in CopyTrade Pro?

Editing the Copy Trade details is not currently supported, as all trading activities take place on the external platform. This helps to ensure PnL consistency between the copy trader and the follower.

Q4. What will happen to the follower Copy Trade account if the copy trader makes a deposit or withdrawal in his/her USDT-Margined Futures account on the external platform?

1) If the trader makes a deposit, an equal percentage of position reduction will be made to the follower’s Copy Trade account to ensure that the real leverage of the follower’s Copy Trade account is the same as the real leverage of the trader’s account.

2) If the trader makes a withdrawal, the NAV of the Copy Trader’s USDT-Margined Futures Account on Binance becomes smaller, while the risk of forced liquidation is higher than the follower’s Copy Trade account. Therefore, no changes will be made to the position of the follower’s Copy Trade account.

Q5. If the follower increases or decreases the Copy Trade funds, what will happen to his/her Copy Trade account?

1) If the follower increases the Copy Trade Funds when there are opened positions in the Copy Trade account, the added funds will not be used as it will lead to an inconsistency in opening prices between the copy trader and follower. The added fund will be included as the margin only after the copy trader closes all already-opened positions and opens a new position.

2) Reducing Copy Trade funds once copying starts is not supported in CopyTrade Pro. The only way to do this is to stop copying and reset the copy trade details before copying again.

Q6. Are BUSD Perpetual Contracts and USDT Delivery Contracts supported in CopyTrade Pro?

Only USDT Perpetual Contracts are currently supported. If a copy trader trades BUSD Perpetual Contracts or USDT Delivery Contracts, no orders will be placed in the followers’ Copy Trade Account.

Risk Warning:

Trading digital assets and their derivatives is highly leveraged and risky and may result in partial or total loss of account funds. Before conducting spot/contract trading, investors must ensure that they understand the nature and rules of spot/contract trading, and decide whether to participate in spot/contract trading based on their investment experience, goals, financial status, and ability to bear risks.

BingX Launches CopyTrade Pro [Beta] was originally published in BingX on Medium, where people are continuing the conversation by highlighting and responding to this story.

AMA Part 1: Questions collected from BingX’s Telegram Community

1. Can Bingbon Rebranding really improve our platform? If the answer is yes?..can you give us an example? Asked by @MrCryptDroper

Emerson：We’ve conceived the idea of rebranding and corporate restructuring in 2020, after reviewing the blueprint over the next 5 years for the company. We’ll gradually introduce more enhancements and exciting features that our community needs, after analysing the demand from our community and the wider ecosystem.

Modernizing our brand image is an important step to prepare for an international user base and accelerate growth for the next phase of our company.

Since our inception in 2018, we have been delivering solutions that accelerate the development of the buoyant decentralised finance economy.

Over time, we realized first-time users were rambling when exploring the cryptocurrency trading market, Traders on the other hand felt empty, and wanted something more — Something that enhances their experience and keeps them fully engaged.

Hence, through the rebranding campaign, we’re fortifying our goal as a social trading network that fully operates within the open (decentralised) finance ecosystem; one that is transparent and is geared toward nurturing the next generation of excellent traders.

2. How the Bingbon Rebranding helps the community to grow, and being competitive with other big platforms? Asked by@oniichan25

Emerson: Direct to BingX users or community members, our community is the core channel of the BingX network. Changing a name that is conducive to mass communication will be more conducive to the development of our brand and community. BingX is a user-centric trading platform. Our main product is social trading. We are also one of the first platforms to do copy trading. We cherish the voice from our community, we wanna let your know, users from Bingbon your opinion matters. This is always our core competitiveness

And the next step we will build a relationship with our community members to foster minimum viable contributors. We gonna create an environment where community members can safely express their voice and sense of ownership. We will be given opportunities to influence and participate in key community discussions, decisions, and forums of importance. And also will give users who wanna be a contributor more opportunities to take on increasingly more responsibility via community leadership roles such as running working groups.

Besides, our recruitment campaign for traders will be launched soon, please pay attention to our BingX Vanguard campaign on the 25th！

3. What’s the ongoing plan of bingx by rebranding and new things we expect to see in near future? Asked by @mrsimsofficial

Emerson: In my response to the previous question, Everyone will be expected to see a more open and transparent social trading platform. Our Services are limited to our platform, namely BingX. Going forward, we are proud to share with our community that our features will be gradually opened up to users from other platforms, while we will also expand our service offerings, including social trading, ETFs, arbitrage bots and more, that our users have long desired.

The X in our new brand name not only symbolises the connection between our users and traders, as well as a presentation of the future exploration and possibilities that we will be empowering our users and traders to do so. Simply put, the rebranding is fully aligned to our long-term vision as The Social Trading platform built for the People.

4. Will staking or pools be a thing in the future on BingX? Asked by @t19

Emerson: BingX has always been driven to provide users with services that meet user needs and creating more tangible value for users.

Therefore, I’m delighted to also reveal today that it is indeed part of our master plan to introduce Staking / Pools services on BingX so that our users can be exposed to diversified investment and financial opportunities on our platform.

In addition, BingX has been exploring and researching various innovative DeFi concepts and hopefully, we will be able to invite our users to experience these features in 2022.

5. Good afternoon, I would like to know what implications this change brings for bingbong users, and what is your goal for 2022. Greetings from Argentina, many successes. Asked by Matias Esteves

Emerson: We hope that through this change, users can know that we are determined to do our best. The goal in 2022 will be to create a more open and transparent social trading platform. The year will enable our users at BingX with more open choices for their crypto trading activities.

For example, we will open our copy trading to users of other exchanges, and open up our service offerings that were originally only in the BingX ecosystem to the entire industry.Users will also be able to see KOLs being able to express their opinions, opinions, and experiences on BingX, and users can communicate with KOLs more conveniently. Users can also see that BingX will continue to introduce some cool features for everyone to experience, including an ETF social trading, arbitrage robot services, etc.

6. There are currently many exchanges and trading platforms for users to choose, what are the biggest and most different advantages of BingX? Asked by @havemyknight

Emerson: Every exchange is unique in its own rights. As we all know, Binance is a comprehensive global exchange that provides an extensive list of features for its users.

The FTX exchange, which has sprung up in the past two years, is an exchange with a strong ability to innovate financial derivatives, providing a variety of innovative gameplay. And we are known for our social trading features, and BingX’s social trading capabilities are one of the reasons why users choose BingX. It is also our biggest feature and advantage.

BingX brings together a large number of high-quality traders. Together with BingX, they continue to provide users with services and create value, which also allows BingX to be confident that it will become the world’s leading social trading platform in the near future. In addition, another advantage of BingX is that we continue to improve user services. BingX attaches great importance to the voice of every user.

Although we have been working hard, due to the large number of users and the wide geographical distribution, we have not been able to satisfy all users in all aspects, but we will continue to work hard to make users feel that with our progress, BingX will be their preferred choice.

7. Hello Emerson and Aziz. Congratulations on this milestone. Cross-chain is still a trending tech in the industry, we know the success of Binance with bsc and OKEx chain. Is BingX planning to develop its own network and if yes, what would you name it? Asked by @millionaire_gl

Emerson: For us, we do not have any plan on developing our own blockchain because what we are going to offer is a social trading solution which allows traders to trade securely on our platform and easy access for new traders.

8. Why did you decided to rebrand Bingbon? Do you think it is a good time to do so? Asked by@Abykrin

Emerson: Currently, the overall market sentiment is favorable where the attention of institutions, regulations, and retail investors toward cryptocurrency are growing. We do have a strong intention to reach out to as many new users as we can while serving all the traders in order to be more informed in getting involved in cryptocurrency. This year is considered an unique year for cryptocurrency gaining high exposure to the public and it somehow coincides with our rebranding plan that we have been planning since last year.

9. If you were a BTC millionaire, how would you invest? Emre Sahin.

Emerson: It’s a candy question, yes, I think it’s always good not to put all eggs in one basket thus I would like to diversify as the market is never ever safe despite cryptocurrency being in a very bullish trend this year. My opinion is never ever put all your investments in one single asset if possible perhaps you may try to diversify and mitigate your risk. More importantly, before you start to invest, you need to set a ideal ratio for investment as for me I would only invest 20% of my assets or savings for investment.

10. What is the reason for its simple use and low commission fee compared to other exchanges? @Ferdikagan
Emerson: Actually we generate revenue by pay-per-use transaction model and we are earning fees from the user needs on transaction. We are offering low rate fees despite other platforms are offering higher fee rates because of there are other things that we are going to raw in the future such as growing user base matters more. Our main focus currently is to allow users to have a platform to truly understand how to go about trading cryptocurrencies. In this regard, once we have achieved our global presence in terms of being the go-to platform for social trading, we will introduce other revenue models for sure. For now, it’s pretty healthy for us even having low transaction fee for users yet we are still able to sustain.

AMA Part 2: Youtube’s live questions

1. How can Bingbon’s efforts be measured in promoting market capitalization in Indonesia? Asked by Selaras Art

Emerson: As mentioned earlier, we just launched our rebranding announcement, what’s going to come next will be a series of campaigns that revolve social media aspect as well as marketing aspect and this will include social media outreach. Due to Covid pandemic, it may still some difficulties to host offline event but we already have quite a number of plans in term of online events such as the AMA. We will definitely come up with more contents and more engaging activities that will reach out to Indonesian users because our strategy is pretty much localized as one of our key markets is definitely in South East Asia. More tailor-made campaigns and localized contents will be our contribution to the market capitalization in Indonesia later.

2. Can we expect to see BingX native token in the near future? Asked by Farbod Taghavi Rad

Emerson: Like I mentioned earlier, we do not have the plan for launching our own blockchain because it’s not our core focus so likewise we do not have any immediate plan to roll out BingX’s native token as of today.

3. Will you unlock Arbitrage Bot for more coins or Virtual Dollar? Asked by Michel Fernandes

Emerson: The related announcement will be published shortly and arbitrage bot in demo trade als the thing that we are currently working on perhaps more information will be announced through our social platforms very soon.

4. I wanna know if this bingx has a roadmap? Asked by GAGS TV

Emerson: Our website is currently upgrading, and there will be a development roadmap in the future of BingX once the website upgrade has been done.

5. Will Bingx diversify the market with tokenized stocks or any stock-related market? Asked by Aziz

Emerson: We want to be a fully compliant platform in the market that we are operating and we have secured quite a number of licenses. Currently, we are working with several key markets’ regulators in order to offer more services. Once we have secured the related license, then we will be able to expand our offering to include products that are outside of the tokenized-related stuff and integrate them with social trading service .

💥 Follow BingX on Facebook

💥 Follow BingX on Twitter

💥 Join the BingX Telegram

💥 Follow BingX on other official social channels: Linktree

Dear Bingbon Users,

The world of cryptocurrency today is still relatively new and filled with uncharted territory.

Since 2018, we have been committed to delivering solutions that accelerate the development of the buoyant crypto economy.

Over time, we realised first-time users were rambling when exploring the cryptocurrency trading market, Traders on the other hand felt empty, and wanted something more — Something that enhances their experience and kept them fully engaged.

After identifying these issues, it was time for a game-changer.

We present to you BingX, a social trading network fully operating an open ecosystem; one that is transparent and is geared toward nurturing the next generation of excellent traders.

BingX, represents the legacy and is capable of transcending through generations — the past, present and the future.

Bing signifies every step that we have undertaken thus far and the X symbolizes the interweaving path between users and traders. Together it brings forth BingX — a unique brand that foretells the next chapter of cryptocurrency trading giving users a trading experience like none other.

BingX strives to be a transparent, open and fair platform connecting traders far and wide, at every level.

To our community of users, partners, and friends, we’re beyond grateful to have your support.

In this infinite game, and in the face of significant challenges, we have made significant progress.

Here’s to a new journey with BingX!

BingX Team (formerly known as Bingbon Team)

We’re excited to announce the integration of Binance Futures to the Bingbon Copy Trading feature set.

This integration enables Binance traders to connect and display their Binance Futures trades on Bingbon.

At the same time, copy traders can trade on Binance Futures, and the trades will be copied by their followers on Bingbon!

Benefits of connecting the Binance API to Bingbon

• Get more exposure in the Bingbon Copy Trading community
• Show your trading history on other exchanges on Bingbon
• Unlock the new feature of cross-exchange copy trading (coming soon)

Please note: Bingbon will have no access to your assets on Binance, and this will not effect the security of either accounts.

Tutorial — Connecting the Binance API to Bingbon

Before we get started, please ensure you have complete the following requirements:

• You have a Binance Futures account
• You have completed the Futures Quiz
• You have funds in your Binance USDⓈ-M Futures account

Getting Started

1. Log in to the official website of Binance, click API Management from the drop-down menu of your avatar.

2. Go to the “Create API” page and set the API name. We recommend naming it “Bingbon”.

3. Proceed with the security verification.

4. After the API Key is created, select the “Enable Reading” API restriction only.

5. Open the Bingbon App, go to the Share Trading — > API Management, copy the API Key and Secret Key from Binance and paste them into Bingbon’s API Access page.

6. Fill in the API information (QR code scanning or manual copy/paste are supported), click to Authorize Access.

7. After successful integration, the corresponding trading information will be displayed on the copy trader’s home page.

Please Note:

1. Only tick the “Enable Reading” option when adjusting the API restrictions.
2. For each Binance account, Bingbon can only connect with one API that is active for that account. If you have multiple Binance accounts, you can connect the APIs of different Binance accounts to the same Bingbon account.
3. This API Access function is only available for copy traders.

💥 Follow Bingbon on Facebook

💥 Follow Bingbon on Twitter

💥 Join the Bingbon Telegram

💥 Join the Bingbon Subreddit

Host: Welcome @stock_gallery! First of all, we’re so glad that you have joined us today. 😁When did you enter the cryptocurrency market and what prompted your trading journey?

Bingbon Official_KO: I learned about the cryptocurrency market by watching the news in 2017. My first trading started with Upbit. However, before that, I had been trading stocks for a long time, and this experience helped me easily start trading on cryptocurrencies.

Host: This is cool! 😏You performed extremely well in the Bingbon 3rd Year Trading Event. Congratulations on that! How did you learn about Bingbon’s trading contest and what factors came into play that helped you achieve such high returns?

Bingbon Official_KO: I heard of this Bingbon Trading competition via a trading group chat. I have established awareness of trading by hands-on trading experience in Bingbon. So, I didn’t get any pressure from the competition. Just traded as usual. I was lucky to win the rewards.

Host: Wow, glad to know that you trade a lot in Bingbon. 😄 What are your views on the growing popularity of cryptocurrency trading in South Korea over the years? Please tell us why is crypto so popular in South Korea?

Bingbon Official_KO: The approaches to generate profits for professionals in Korea are limited. Investment in real estate is way too expensive for young people. In the case of stock investment, it is extremely hard to get high returns, even before the Covid-19 pandemic, because of the unfluctuating market in a decade. Contrarily, I think that the cryptocurrency market is particularly popular because it has shown infinite potential in technology development and investment return.

Host: I see. 🤔 As an experienced trader, could you tell us why is technical analysis so significant when trading? Can you share with us a few technical analysis indicators that you find useful and how do you use them?

Bingbon Official_KO: Well, actually I rarely do technical analysis. When doing short-term trading, I mainly look at the 1-minute chart and the 15-minute chart. When trading long-term, I mainly look at the 1-day chart to judge whether it is an upward or downward trend.

Host: Well, it seems like you do both short and long-term trading. Where do you fit? Do you consider yourself a long-termist or a short-termist when it comes to cryptocurrency?

Bingbon Official_KO: Generally, futures trading is usually focused on short-term investments, while spot trading is focused on long-term investments. However, rather than trading at any time, it is better to long in the spot market when the timing is good for cryptocurrency investment, and trade in the futures market when the liquidity is relatively high.

Host: Good to know this. 🤓 In your opinion or from your experience, what do you think are the most common mistakes traders tend to make? What advice would you give in this regard?

Bingbon Official_KO: It is very common to get a loss when the trend changes in the futures market. Taking a stop loss when you were having a loss is hard for anyone to make such a decision. But it is better than losing everything when you take a position in the opposite direction. If you do stop loss in a timely manner, chances are always there in the future.

Host: Can’t agree more! Can you tell us how you will use the proceeds from the Bingbon Anniversary Trading Event? As we know, you have a lot of followers on social media. Would you encourage them to participate in any Bingbon trading competition in the future?

Bingbon Official_KO: We’d like to buy spot cryptocurrencies such as Bitcoin and Ethereum with rewards, and hold them for a long time. Bingbon’s trading competition has very high merit as it is very fair. In addition, the amount of rewards is higher compared to those on other futures exchanges. We will actively promote these competitions to Korean users.

Host: That’s super awesome to hear. 🙌 Bingbon is now 3️⃣ years old. Do you have any suggestions or expectations for it?

Bingbon Official_KO: As I went through this trading competition, there were no functions like pending order or leverage conversion, so I had to take the differentiation between the market price and the price I was supposed to open the position. If these features could be improved, I believe more Korean users will become passionate fans of Bingbon.

Host: Ahh, we definitely will take these suggestions down and make better improvements soon.💪

Thanks for all the answers @stock_gallery . Now Let’s open the chat up for a couple of questions from the community. Select 5 questions to answer as you like! 😁

Selected questions asked by the community and the corresponding answers

Q1: Hello sir @stock_gallery, what tips can you give to those who are just starting their trading career?

Bingbon Official_KO: Futures trading is very difficult. Therefore, rather than immediately entering into real investment, I would like to suggest that start off a simulation trading using Bingbon’s vst. It is better to learn a sense of a small amount rather than trading with a large amount from the beginning.

Q2: What could you recommend to us beginners that would like to start trading?

Bingbon Official_KO: Starting your first investment with simulation trading is a good option. When you first start trading futures, we recommend that you trade only with Bitcoin rather than Altcoins, because the volatility of Altcoins is unpredictable.

Q3: In the bad situation of the Covid-19 epidemic, every cryptocurrency project was heavily affected. Which initiative do you think might be a great solution?

Bingbon Official_KO: I still think that the cryptocurrency market generally is an uncertain market except for Bitcoin or Ethereum. Indeed, there are many good projects that are being created and developed. However, from the perspective of futures trading, it seems that holding new Altcoins is really risky. If you have a strong sense of analyzing new projects, there will be a lot of projects for you to choose from.

Q4: Covid-19 outbreak has a significant impact on the financial situation, do you think this is a barrier for new capital into the crypto market?

Bingbon Official_KO: Rather than the impact from Covid-19, I think the uncertainty of cryptocurrencies is the primary reason that less capital is flowing into this market. Like the stock market, in the cryptocurrency market, if there is any intrinsic value, I think that the inflow of new capital will be more active.

Q5: I am a new investor in the crypto world, what should I do?

Bingbon Official_KO: I believe that if you buy a little bit of Bitcoin or Ethereum when the price is low and hold it, a high return could be received in the future, just like Apple or Tesla.

Host: Thanks for all the comprehensive answers @stock_gallery ! Super appreciate your time here with the Bingbon community. Also, appreciate everyone’s time on the 4th Bingbon Talk today! 👏

💥 Follow Bingbon on Facebook

💥 Follow Bingbon on LinkedIn

💥 Follow Bingbon on Twitter

💥 Follow Bingbon on Instagram

💥 Join the Bingbon Telegram

💥 Join the Bingbon Subreddit

Website: https://bingbon.com/en-us/

Bingbon is proud to be launching its Profit Ranking Competition, the first NFT event to mark its third anniversary celebration.

We wanted to do something special for our users as a way of saying thank you for supporting us throughout our three-year crypto journey.

NFT is the abbreviated terminology for “Non-Fungible Token.” They are classified as digital collectibles that are tradable assets, stored on a blockchain to keep a record of an owner’s work.

Our Profit Ranking Competition consists of two rounds — the preliminary and the final round. Participants have a chance to win up to 50,000 USDT as well as Limited Collections of NFTs. With regards to the NFTs, Bingbon will only issue 500 during this event. Users may obtain NFT rewards in both the Preliminary and Final rounds by profit amount ranking or popularity listing. In turn, they can either choose to exchange them for USDT at the official buyback rate or withdraw them to their wallets.

We felt now was the perfect timing to host a competition that included gifting NFTs. After all, these digital collectibles are gaining much traction and bringing with them a new type of innovation that is capable of disrupting and at the same time transforming the industry. In addition, it breathes the spirit of creativity. The beauty surrounding blockchain and crypto is that you can never predict the outcomes or surprises that present themselves from time to time.

Registration is simple. To participate, the only requirement is that users must have an account balance of 30 USDT. Users can rest assured that no limitations will be placed on deposits, withdrawals, or exchanges during the event.

The preliminary round comprises 3 phases (one phase per week, ranked by profit amount). The top 30 contestants in the first phase will earn a spot in the final round while for the second phase, the top 60 candidates will be rewarded with NFTs. However, the top 5 candidates in the third phase can win between 500 USDT up to 5,000 USDT. Rewards allotted for this phase depend on the position of the candidate (1st to 5th).

Additionally, there is a popularity list in the Preliminary round. Users can vote once per day for any candidate they wish to support in advancing to the final round. The top 100 candidates will automatically go on to the final round while the top 170 will be rewarded with NFTs.

In the final round of the Profit Ranking Competition, candidates will compete for the grand prize of 50,000 USDT. This will be determined by the individual and profit amount. Last but not least, there will also be a separate award called the most popular team award in the final round where the three most popular teams compete to win the highest reward of 45,000 USDT. The more the team members, the higher the popularity ranking. Teams can simply increase their popularity ranking by having more participants join their team.

In the interest of fairness, awards will be equally distributed among team members. Please be advised that the preliminary round kicks off on May 20th and ends on June 10th while the final round will begin on the ending date of the preliminary round and continues until June 17th.

Bingbon began operations as a crypto derivative exchange in 2018 and has miraculously soared above its expectations. Like many other exchanges in the space, we started from ground zero, gradually learning the ropes of the industry while paying attention to user’s behavior every step of the way. Bingbon will persist to make its name known, erasing its status as an emerging exchange by further cementing its foundation and building up robust pillars to withstand the test of time despite the ever-changing dynamics in the derivative space.

💥 Follow Bingbon on Facebook

💥 Follow Bingbon on LinkedIn

💥 Follow Bingbon on Twitter

💥 Follow Bingbon on Instagram

💥 Join the Bingbon Telegram

💥 Join the Bingbon Subreddit

Website: https://bingbon.com/en-us/

No one is certain how long the Altcoin hysteria will last for. But what is sure is that Bingbon wasn’t going to miss out on any opportunity from the altcoin season.

Bingbon intensified its marketing efforts across both Turkey and Latin America, yielding profitability. Since then, the exchange has witnessed a staggering increase in average trading volume with thousands of newly registered users joining our platform weekly.

In Q1 of 2021, there was an explosive growth of 51.21% from Q4 of 2020 in users from Latin America. We believe this was due to our strategic marketing campaigns and brand awareness in that market. We began revving up our marketing efforts in Turkey only in late January this year, so we expect the number of users there to be much higher in the next quarter.

Given the fact that Bingbon has recently listed 15 new coins only added fuel to the fire. Between early to mid — April, Bingbon listed AAVE, DOGE, ENJ, MANA, SAND, CHZ, KSM, PHA, AKRO, VET, SUSHI, SOL, NEAR, LUNA, and ATOM which are all paired with USDT. That brings the number of coins on Bingbon’s platform to a total of 29.

As hinted before, Bingbon is cognisant of the altcoin season and has not turned a blind eye or given deaf ears to the demands and needs of users. At the start of this year, our users have been asking us to launch new trading pairs. We have listened and answered their prayers; giving them a lump sum of options to choose from. With so many new coins being introduced, it came as no surprise when we saw a surge in altcoin trading on our platform. What we’ve discovered was a further climb in our average daily trading volume as a direct result. Adding additional trading pairs also brought with it other advantages as it allows us to compete with our competitors and stay relevant in the crypto space.

Global Partnership Strategy

Bingbon has been actively seeking to establish new partnership agreements and will continue to do so over the next quarter. Currently, we also have some of them in motion which will be revealed soon. As we continue building and expanding, we expect to create new bases aimed at increasing market share and strengthening our brand globally.

Bingbon remains committed to offering diverse, unique, and quality services to all our users. As usual, our dev team is working steadfastly to fine-tune and polish up our products while implementing new customized trading tools, so users get the best trading experience on our platform. For Bingbon, there is nothing greater than ensuring users are satisfied and happy with our services. In the interest of our users, we will carry on with providing customers more value for their investment by way of variety. With that said, expect to see more new coins being listed pretty soon.

Activities and Events

If all goes according to plan, Bingbon will be hosting multiple activities such as trading competitions and engaging events during the second quarter to keep users entertained while helping them to become better traders (winners will be rewarded with grand prizes). Already for quarter 1, Bingbon introduced two weekly activities — Bingbon Crypto Unscramble and Bingbon Crypto Simplified. These activities were primarily designed to boost user engagement while helping them to learn more about crypto and the various product offerings from Bingbon. How Bingbon Crypto Simplified works is that a random crypto word related to Bingbon’s product is selected, and users are then tasked with explaining the meaning of that term. However, with Bingbon Crypto Unscramble, the structure is a bit different although geared at achieving the same result. Three words are presented in an incorrect order, and it is the job of users to rearrange the words to unravel the right word.

Bingbon is on a mission to become the number one social crypto exchange and there is no stopping that. Backed by a team of humbled and hardworking professionals, Bingbon has risen to the occasion, transforming itself into one of the safest and most easy-to-use platforms on the planet. Bingbon remains optimistic and confident that it will keep on this same trajectory path for quarter two, attaining new heights.

About Bingbon

Established in 2018, Bingbon is a digital asset derivatives trading platform dedicated to providing simple and professional trading products and services. Bingbon not only provides cryptocurrencies such as BTC and ETH but also global indices, commodities, forex, other contract trading products, as well as an automatic copy trading function. Bingbon aims to protect the interests of users while creating a transparent trading environment so those users can enjoy the ultimate trading experience.

💥 Follow Bingbon on Facebook

💥 Follow Bingbon on LinkedIn

💥 Follow Bingbon on Twitter

💥 Follow Bingbon on Instagram

💥 Join the Bingbon Telegram

💥 Join the Bingbon Subreddit

Website: https://bingbon.com/en-us/

Host: Welcome @Nebraskangooner 😄

First of all, we’re so glad to have you join us as the Senior Advisor of Bingbon. 👏

Nebraskan Gooner: Thanks, glad to join!

Host: For those that don’t know you, could we get a brief introduction about yourself and how you got started in crypto? 😆

Nebraskan Gooner: Nebraskan Gooner is a trader, analyst, and founder of Elevate Trading — an educational platform. He was voted best Crypto Twitter Account at NEXT BLOCK ASIA 2.0 conference. His market predictions and analysis have been featured in CoinTelegraph, Independent, BeinCrypto, and others. He’s an advisor and partner for many notable companies in the Cryptocurrency space such as Utrust, NWCcrypto, Trezor, TheMemeunity, and Bingbon.

I got started in Crypto way back in 2014 but it wasn’t until 2017 that I really got involved and have been heavily involved ever since.

Host: wow

Great introduction! 🤓 So for today’s topic, what type of trading strategies are best for traders, especially for those who are now kickstarting their trading journey?

Nebraskan Gooner: I don’t think it matters whether someone is a beginner or advanced trader. Strategies should be based on what works best for you. Your personality and lifestyle will dictate your trading style more than anything. If you have kids or family or work multiple jobs you will have to adapt your style to that. So you should not be trying to trade the same way as someone who is a full-time trader or someone who has no kids/family and has 100% time to devote to the market 24/7. That’s first and foremost. We all also have different personality traits. If you’re more likely to be a gambler you should trade less with leverage. If you’re a very conservative person you may do extremely well-managing leverage trading. Leveraged trading is all about discipline.

Host: Wow, lifestyle included. Good to know this. 😁

Well, I’m sure that as a trader, it’s not easy and sometimes you incur losses. What would you say are some of the big risks involved in trading that new traders should be aware of?

Nebraskan Gooner: Understanding risk management and having created a plan prior to entering a trade. Many people think about the profits they can make on a trade and disregard the potential for a loss. This can cause large losses. Not only that it can cause people to hold onto positions too long as the loss keeps growing.

Host: Cannot agree more. Risk management is super important especially for a newbie like me. I’m personally curious to learn about the few things that every trader at every level should know about. Can you tell us what are some of those basics?

Nebraskan Gooner:

1. Risk management

2. How to use the exchange you want to trade on before you start trading normal size positions

3. Understanding the difference between leverage trading and spot trading

4. Understanding what leverage is, how it works, what stop losses are, what take profits are, trailing stop losses, liquidation levels

5. difference between cross margin and isolated margin

This is all basic stuff but more advanced things too because really you should start by understanding the markets.

1. How price action works

2. How to read charts (mainly supports and resistances)

3. Indicators and time frames that work for you

4. Then you can start building a simple trading strategy

Host: This is a comprehensive summary. Hope everyone take note of that. 😁 Further question: What are some of the most difficult aspects of trading and why?

Nebraskan Gooner:

Overtrading

Trading during poor market conditions

Not being patient and forcing entries

Letting your emotions guide your decisions

Host: I see～ As you just mentioned after learning those basics, traders can start building a simple trading strategy. What is the simple way to build a trading strategy then? 🤔

Nebraskan Gooner:

1. Find a recurring pattern that you can trade over and over with 50% or more success rate.

2. Ensure this provides a good risk to reward ratio (Meaning your risk is at least half of your reward) Example. $100 risk, $200 reward.

3. Stick with disciplined entries based on your rules and risk management guidelines

Host: As you say, traders need to stick with disciplined entries based on their rules and risk management guidelines. However, some would want to know how frequently one should change their trading strategy. Any thoughts on that?

Nebraskan Gooner:

I would only change my strategy when it stops working.

Strategies may only work for a certain amount of time and then market conditions change or the market evolves.

If you are reluctant to change your strategy after it stops working then you can run into complications. You must always be willing to adapt and know that it’s not something wrong with you, it’s just the market and it’s normal for it to change.

Also if trading different assets, what worked on one, might not work on the other.

Host: So now we understand more about building a trading strategy. For you as a top trader, what kind of timeframes are you trading in? Are you opening and closing trades within minutes, or more longer-term positions?

Nebraskan Gooner: That depends on market conditions as well. Lately, the volume and volatility have been on the low end so I’ve been staying away from low time frame charts.

I prefer 6 hour and daily charts for trading altcoins.

Mostly just depends on the asset. But if I take a trade based on a 5-minute chart I won’t plan on holding it very long compared to if I took a trade on a 6-hour chart.

Host: So it seems like you prefer intraday trading lately. 😎 For beginners, intraday trading may be a little risky. What are some simple strategies to help beginners with intraday trading?

Nebraskan Gooner: Don’t zoom too far into low time frames. Stay on your preferred time frame and stick to your rules.

Host: Cool. The final question from me. 😁 Would you mind sharing your thoughts about the current market structure? Is it bearish or bullish? Is the uptrend over yet?

Nebraskan Gooner: Overall, I think it’s mega bullish. I would be very surprised if we didn’t see a new ATH this year.

Host: Right, like it has been surprising us from the beginning of this year. 😆

Thank you for all these comprehensive answers. Gooner. 🙆‍♀️ Let’s open the chat up for live questions from the community. Select questions to answer as you like!

Selected questions asked by the community and the corresponding answers

Q1: How much time does it take to become a profitable trader?

Nebraskan Gooner: It’s different for everyone. Some may find instant profitability depending on market conditions, but if they stick around long enough they may find it tough to sustain.

Q2: What could you recommend to us beginners that would like to start trading?

Nebraskan Gooner: You can use fake funds to paper trade, some exchanges have this feature.

I’d recommend learning as much as you can before jumping in and really giving it a go

Q3: What are your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?

Nebraskan Gooner:

Continue building more educational material for everyone who follows me

Go on a vacation (thanks COVID)

I just want to continue to help crypto become mainstream and keep helping my followers understand risk management to protect their capital and have a nice stack of cash at the end of the bull market

Q4: Many starters are faced with the problem of deciding which coin to invest in. What would be your advice to a beginner on Crypto investment?

Nebraskan Gooner:

Find low-risk choices with large market caps.

Don’t go for the small $10 million market cap projects on uniswap.

Projects with strong fundamentals that are growing and have a well-established team/product are the ones that will be around the longest and continue to return the most value for investors.

Q5: Hi sir Nebraskan! Do you think it is best to do higher leverages in shorter time frames and lower leverages in higher time frames? And what can you advise traders with regards to chart readings?

Nebraskan Gooner: I will always recommend low leverage. But on high time frames stop losses have to be kept wide so reducing position size and leverage is important in these situations.

Q6: Thanks for the feedback Gooner. I have another question. My SL gets often hit due to some LTF crash but then the market covers itself and the trend goes up. If you trade ( spot ) when do you place a Stop Loss? directly or after the market with up a little?

Nebraskan Gooner:

Yes, this is tough. I’ve learned to reduce my position size a little bit and have a wider stop loss. A smaller position with wider stop loss can mean the same risk.

Sometimes I’ll do half a position size with a very wide stop loss or a manual stop loss and then when the stop hunt happens I can enter the second half of my position with a stop loss below that.

Q7: Based on your experience sir Gooner, how do you control your emotions when you trade? Is there a technique on how you handle your emotions when trading, especially when in a scenario of having losing trades?

Nebraskan Gooner: It’s hard. Lots of practice and discipline. and you must be free of stress and other things in real life. Otherwise, you’ll be emotional in the charts

If I have a lot of losing trades in a row I just take a break. Actually on a decent losing streak with stock trades. I think I’ve gotten stopped out 4 or 5 times in a row... So I’m going to take a week or two off from trading stocks

Host:

Thanks for sharing all this info. @Nebraskangooner! Pretty appreciate your time here with the Bingbon community. Thanks, Everyone! The above is all for today’s AMA. 👏

Nebraskan Gooner:

Thanks for having me! Thank you for all the questions, everyone.

💥 Follow Bingbon on Facebook

💥 Follow Bingbon on LinkedIn

💥 Follow Bingbon on Twitter

💥 Follow Bingbon on Instagram

💥 Join the Bingbon Telegram

💥 Join the Bingbon Subreddit

Website: https://bingbon.com/en-us/

Host: Hi all, we’re muting the group as we are about to start the AMA.

Flow of AMA

There will be 2 parts to the AMA and it will last approximately an hour. We will be muting in some parts of the AMA.

1. Introduction & Interview to @herokim78 from @BingbonYas

2. Chat unmuted for live questions

Hero: Hi, thank you for inviting me here~!! So nice to meet you all.

Host: I have just muted the chat to make the 1st part easier. We will start with some questions to help our community learn more about DeFi, and then we will jump into community Q&A.

Great to have you here 😁 @herokim78, can you first introduce yourself to the AMA room? Give us some background info of how you got involved in crypto.

Hero: Okay. The first time I encountered Bitcoin was in 2016. The concept of decentralized digital assets touched my heart. When the blockchain boom was booming globally in 2018, we decided to invest in a new market because we wanted to take an opportunity.

For now as a Partner of Coinin, which is aBlockchain project incubating, marketing, investing company, I am currently in charge of business development and Korea-China market strategy.

Host: Great introduction and team backgrounds! 👍As we know Altcoin has been a hot topic lately and continue to make headlines. What do you think is the relationship between Altcoin and DeFi?

Hero: Yes that’s right. These days the price of altcoin was adjusted. I wonder what part of the relationship between Altcoin and DeFi should talk about.

Altcoins rise as bitcoin prices rise and crossroads. In other words, as expectations for the coin market and overall value rise which led by Bitcoin brings prices rise of alt coins. With the popularity of DeFi these days, many DeFi projects and coins are pouring out.

These coins are DeFi Altcoins that made a surprise appearance at the top of the market. I think DeFi Altcoin will lead the price increase in the 2021 altcoin market.

Host: Good to know this. As the saying goes — Bitcoin to the moon! 🌙 How has the increased price or rather the market situation of Bitcoin been impacting DeFi?

Hero: Right, Bitcoin has risen a lot recently. Bitcoin’s price or market situation is believed to affect DeFi. DeFi can be seen as a decentralized bank. For some people, it will take time to trust DeFi because they are accustomed to using the Central Bank.

And I think Bitcoin’s price plays a role in increasing its credibility. But there are other effects, too. If the price of BTC and ETH goes down, existing users of DeFi are happy to see gas fee bleeding😜.

In conclusion, whether Bitcoin’s price drops or rises, I think it has a positive impact on DeFi.

Host: agree.🌝 Interesting stuff. Hope everyone reads that. 😁 Well what is the DeFi environment like now compared to two years ago?

Hero: DeFi has been a rising market since 2019. However, maybe because Crypto Market was not on the rise in general, only some early adopters used it. It was unfamiliar to use a decentralized exchange as there was not much information.

And many investors didn’t feel the need for DeFi because they thought trading alone would make enough money. However, the 2021 DeFi boom is a bit different. Crypto Market continues to rise overall, and many institutions and individuals are aiming for investment opportunities.

I think investors of traditional markets have a more conservative and stable investment tendency. For these people, lending or Staking of DeFi would be a good option. And for those who can take more risk, projects that can participate in liquidity mining and seek higher returns would be a good option.

As DeFi is hot these days, many projects are pouring out, so I hope you are careful about your investment.

Host: Totally agree with you @herokim78. Crypto is still in its infancy in terms of economic maturity, while DeFi is even earlier. DeFi has exploded over the past 12 months. Assuming that Bingbon is going to launch some popular DeFi asset trading pairs, which do you prefer?

Hero: Wow, that’s good news. There are many DEFI coins which people love to trade.There are Sushi, 1inch, aave, crv, comp, mkr, snx and so on. I prefer GRT, REP, ALGO, COSMOS which are the most popular and Korean traders like to trade.😃

Host: See~ Thank you for sharing all this info. @herokim78😄

Hero:Thank you

Host: Now Let’s open the chat up for a couple questions from the community. Select 5 questions to answer as you @herokim78 like! 😁

Selected questions asked by the community and the corresponding answers

Q: What is your long-term vision about the industry which you are working on? Are you afraid some day there will be another project with more innovative technology can replace your project?

Hero: First of all, thank you for your interest and questions.

My long-term vision of the industry is that there is more room to grow. There are many projects that I am in charge of at Coinin, but I think DeFi projects and trading platforms have the most vision.

DeFi is a decentralized finance and can be seen as the flower of cryptocurrency. Currently, many projects are releasing products such as lending, and liquidity mining etc that existing financial services have shown, and the market response is hot. But it is true that there are some unstable services.

However, I think the services will develop further if the current situation continues with more participants entering the market continues.

Q: As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain its project and also the team that are working hard during this pandemic?

Hero: The changes that Covid-19 brought about are huge indeed. This has also had a significant impact on the financial industry. Stock and cryptocurrency have benefited.

Speaking of cryptocurrency, many assets were released to the market through the pandemic and they didn’t know where to go. At that time, there was a cryptocurrency.

Cryptocurrency has emerged as a means to replace the existing currency system based on national credibility. After the Pandemic, the world will become closer and unconnected. And there are countries where national credibility has collapsed or is collapsing. That’s why cryptocurrency has emerged as an investment tool for the future.

Q: What is the team’s orientation and development plan for 2021 in the DeFi region, why do you think DeFi, this immature term, has a future? What results do you expect to achieve?

Hero: A very optimistic opinion is that DeFi can absorb some existing finance. Previously, people used to save money in banks and trade only stocks, but now they’re not the only option. People aren’t fools. If the industry is more mature and reliable and stable, there is no reason not to move to DeFi, which gives more benefits than existing finance.

Q: DeFi and Dapps are two pillars primed to rule cryptocurrencies and the blockchain industry, what’s your strategy to DeFi and Dapps?

Hero: That’s right. DeFi and Dapp are the core of the blockchain industry. DeFi believes that there is a future where a lot of money can be raised if market maturity and stability are resolved as I mentioned before. My strategy is to find a good project team and launch a better DeFi service.

The early Dapps were made by inserting blockchain technology into existing services. I think there were many services that were not well used. In the future, Dapps will not use blockchain technology to show themselves, but will go toward solving problems that have not been solved unless they are blockchain. Security, transparency, non-forgery, etc. are used.

Q: Explain your plans on global expansion,

Q1) is it only market you are focusing All the time?

Q2) Or you focus on building or developing and getting customers and users, or partnerships?

Hero: I’m focusing on both Q1,Q2. There is only one thing that cannot be considered when expansion a new market. Conduct sufficient customer research, market research, and create customization strategies.

Q: What do you think are the biggest challenges associated with DeFi currently?

Hero: There are still many tasks to solve because they have exploded in a short time. DeFi’s basic operations are often anonymous, so it seems that they should make efforts to increase security and stability.

Many people asked me questions, so it was really hard to choose.

Thank you all!

Host: can’t agree more🤗

Thanks for all the answers @herokim78! 😘 Appreciate your time here with the Bingbon community. Also appreciate everyone’s time on the AMA tonight!👏

Hero: See you again~!

Have a good day All~!

Host: Thanks again @herokim78

💥 Follow Bingbon on Facebook

💥 Follow Bingbon on LinkedIn

💥 Follow Bingbon on Twitter

💥 Follow Bingbon on Instagram

💥 Join the Bingbon Telegram

💥 Join the Bingbon Subreddit

Website: https://bingbon.com/en-us/