DIMCOIN (CURRENCY:DIM) traded down 1.2% against the U.S. dollar during the 1 day period ending at 11:00 AM Eastern on September 24th. During the last week, DIMCOIN has traded 10.4% higher against the U.S. dollar. DIMCOIN has a market cap of $7.45 million and approximately $44,075.00 worth of DIMCOIN was traded on exchanges in the last 24 hours. One DIMCOIN token can now be purchased for approximately $0.0035 or 0.00000054 BTC on major exchanges including BTC-Alpha, Cryptopia, Iquant and Exrates.
Here’s how similar cryptocurrencies have performed during the last 24 hours:
DIMCOIN was first traded on June 26th, 2017. DIMCOIN’s total supply is 8,986,417,068 tokens and its circulating supply is 2,102,483,276 tokens. The official website for DIMCOIN is www.dimcoin.io. The official message board for DIMCOIN is forum.dim.foundation. DIMCOIN’s official Twitter account is @DIMCOIN_ICO and its Facebook page is accessible here. The Reddit community for DIMCOIN is /r/Official_DIMCOIN and the currency’s Github account can be viewed here.
Buying and Selling DIMCOIN
DIMCOIN can be traded on the following cryptocurrency exchanges: Exrates, BTC-Alpha, Coinbe, Cryptopia, Iquant and HitBTC. It is usually not possible to purchase alternative cryptocurrencies such as DIMCOIN directly using U.S. dollars. Investors seeking to acquire DIMCOIN should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase DIMCOIN using one of the aforementioned exchanges.
How do I make money with Bitcoin? Where’s the money in the crypto world? The answer: You need rules. We have collected the tastiest wisdoms from countless trading literature, sifted them and baked them into 11 golden rules.
1. there is no win-win situation in cryptotrading
Remember the rocker on the schoolyard? Two children rocking up and down. There are two states: Either one child is down and the other is up. Or they balance quite strained in the middle. That’s how trading works. Sometimes nothing happens and the courses balance tense in the middle. But every time one trader makes a profit, another one suffers a loss. The rocker cannot be up on both sides. Simple physics. The question is: Why do you think you are better than your counterpart?
2. cryptotrading is war
In state-organized struggles there is the term “fog of war”. The general does not see the entire map, but only what is in front of his eyes. He has to make decisions with incomplete information. That’s the same in trading. Individual traders are always on the wrong side of asymmetry. There are so-called whales – they have so much crypto that they can change the price significantly with a trade. But only the whale knows when he’s doing it. If a (real or fake) message drives the price, then we usually find out too late. In trading, those who have essential information beforehand win.
3. 50 plus 1
The rocker again. There are only two relevant states that a price can take: rise or fall. That’s a 50/50 thing. If we let a monkey trade, then the probability is exactly 50 percent. Nobody’s 100 percent right. There is no system that can correctly predict an irrational and repeatedly manipulated market. The goal of every trader is to be at least 51 percent correct. Every trader needs the frustration tolerance to lose in 49 out of 100 trades.
4 Faith is (unfortunately) Everything
No matter how mathematical the system, our belief in magic and fate keeps getting in the way. Example: A coin is being pumped and reaches dizzying heights. We know it’s already too late to get in, but we do it out of fear of missing something (FOMO). Or we can see patterns where there aren’t any. For this purpose, there is a separate field of research in psychology: bias. Result: Nobody is rational. To believe that we act rationally in the market is a mistake.
5. the mistake is you
The market is always right. If the market does not behave as you have calculated, you are wrong. Always and forever. Amen.
6. 80/20 rule of cryptotrading
The good traders make their money with 20 percent of their trades. The rest is either a draw or a loss. If a good trade brings 16 percent profit, then a worse trade may bring -4 percent on average. This ratio is achieved with a stop-loss. In this way, you can also calculate whether you make a profit in total. You can also see that a trade with a profit of three percent is not really a profit.
7. Beginners lose at cryptotrading because they:
trade without knowledge, i.e. play the lottery
Hold positions too long
trade with cheap shitcoins
gamble with someone else’s money
never get their profits out
trade too often, so also try mediocre trades
8. invest in what you understand
Check it out before you buy coins. What are they doing? Does that make sense? Or at least understandable? The better the product, the sooner the price will rise in the long term. This advice also includes not to trade Shitcoins.
9. Differences between crypto and other markets
Crypto markets don’t sleep, they’re open 24 hours a day.
The cycles between euphoria and depression are shorter by a factor of X, cryptotrading has warpspeed. When a stock market is bearish, you can take a few weeks and months off. In Krypto it will be different next week.
The volatility – i.e. price fluctuations – can be as much as 30 percent in one day for smaller old coins. Traditional media, for example, are too slow. If it is said that a certain old coin has fallen by 30 percent in the last few days, the situation has already changed when the editor puts the article in print.
Stock traders think in percent. Kryptotrader think in x (in the form of x-fold).
Illegal things like insider trading are happening everywhere. But in the unregulated crypto world it happens more often and the effects are greater. Knowledge advantage pays off even more in Krypto.
Technical course analysis can work well in cryptography because the market is small and many analysts are on the move. If many act according to the same results, then the prognoses come true.
Outside the top 20 you should not make large purchases or sales (more than 1,000 euros). If the trading volume is low, the price between the first and the last euro worsens.
10. make 100 bad trades fast
The only way to increase your chances of winning is to have real trading experience. Reading books doesn’t help. Don’t trade with play money either. Only real trading with real money brings experience, insight and success (if any). Start small. Start with 100 Euro. If you have doubled it, you can add another 200 euros. When the 400 have doubled, you repeat the game. And always only trade with so much money that it does not increase the pulse. Nervousness is bad for business.
11 Less technical analysis (TA) is more
Learn: Moving Averages, Stochastic RSI, Trend Lines, the basics of Candle Sticks, Upwards & Downwards Channels, Bull Flags, Breakouts and Wedges. TA can be “zoomed”, they can be formed from daily, hourly or minutely values. The shorter the period, the more error-prone the pattern. Do not search in minutes what you cannot discover in hours.
On 19th September, OKCoin announced that it has listed five new cryptocurrencies on its exchange. It now supports XRP, Cardano [ADA], Stellar [XLM], Zcash [ZEC] and 0x [ZRX]. The Virtual Currencies [VCs] will be paired with USD, Bitcoin [BTC], and Ethereum [ETH].
The exchange further stated that the USA traders and investors will be able to buy and sell the above pairs “securely through OKCoin’s licensed exchange”. However, the Fiat-Token pairing will only be available to the Californian residents.
Tim Bynn, the CEO of OKCoin, USA, spoke about the onboarding of the new virtual currencies. He said:
“We are very pleased to welcome these five new cryptocurrencies and all of the communities that trade them. As we build out the broadest set of financial products on a globally regulated exchange, we are committed to expanding the trading pairs for our customers, while bringing tokens to the exchange that offer utility, value and demonstrable use cases. Today’s announcement signifies a giant step forward for the entire ecosystem.”
Over the past week, the altcoins XRP and ADA have beaten the slow market witnessing a double-digit digit surge.
At press time XRP is trading at a value of $0.32 with a market cap of $12 billion. ADA is trading at $0.072 with a market cap of $1.8 billion.
Earlier, this month OKCoin announced its expansion into 20 more U.S. states. They also revealed that the company has been working closely with the regulators and following researched regulations in every state it has expanded to, to ensure that they comply with Federal and State Convertible VC rules.
In addition, the company is currently in the process of applying for a new license named Money Transmittal Licenses [MTL] in the remaining states of U.S. The licensing will allow crypto-to-crypto and fiat-crypto trading.
Furthermore, they stated that the trading service in the additional states will be opened once the license is issued or when the company receives a clarity that trading is permissible.
The Korean Blockchain Business Association (KOBEA) and the government of Uzbekistan have signed a memorandum of understanding (MoU) to establish the country’s first government-licensed crypto exchange.
The National Agency of Project Management (NAPM) under the president of the Republic of Uzbekistan settled a direct partnership with KOBEA to facilitate the growth of the country’s cryptocurrency and blockchain sector.
In the years to come, the government of Uzbekistan will contribute to the establishment of a large-scale fund to finance innovative startups and projects in the technology, cryptocurrency, and blockchain industries.
Motivation Behind the Decision
In 2012, Uzbekistan was officially delisted as a Specially Designated Global Terrorist under Executive Order 13224, which has allowed individuals and businesses in the US to engage in financial transactions with companies and financial institutions in Uzbekistan.
Throughout 2018, countries like Iran and Turkey have seen a rapid increase in demand for cryptocurrencies due to the tightening of sanctions imposed by the US government and the devaluation of their national currencies.
However, given the absence of sanctions by both the US government and the EU in the region, it is evident the decision of Uzbekistan to open its economy for crypto and blockchain related ventures has no association with its relationship with the US and the current financial state of the country.
Rather, as Uzbekistan government officials from NAPM noted, the government has come to consensus to develop and create a friendly ecosystem for crypto startups after evaluating the success of Malta and Switzerland’s Zug in luring blockchain-related businesses with practical regulatory frameworks.
Malta, a country within the EU characterized as ‘the blockchain island’, has recently seen three multi-billion dollar corporations relocate their headquarters to Malta due to its favorable cryptocurrency policies.
Revolut and Binance have permanently established new headquarters in Malta, bringing in hundreds of employees and hundreds of millions of dollars in monthly profits into the region. Tron, a major blockchain project, is expected to migrate to Malta in the upcoming months.
To compete against Malta, South Korea’s Busan, Jeju Island, Switzerland, and other major crypto markets, the government of Uzbekistan has said that it will establish large-scale research and development centers, mining town in Chorvoq, and efficient banking relations for cryptocurrency exchanges.
Will Favorable Crypto Policies be Enough?
The Philippines, South Korea, Malta, Switzerland, Singapore, Thailand, and many countries in Europe have already introduced cryptocurrency-friendly policies to accommodate blockchain startups.
Merely imposing practical regulatory frameworks will not be sufficient to convince companies that are based in regions with vibrant crypto communities.
But, the optimistic stance of the government towards various sectors of the cryptocurrency market including initial coin offerings(ICOs), mining, trading, and development will likely lead large-scale startups in the space to consider establishing offices in Uzbekistan as a secondary option.
As seen in the case of Malta, the process of the crypto industry of Uzbekistan evolving into the size of its competitors in Asia and Europe could take many months to years. Depending on the government’s efforts and commitment, the recent project deployed by NAPM could allow the country to be recognized as an emerging technology hub in Central Asia.