The chief executive officer of Tesla, Elon Musk, recently made a statement that he would be paying more than $11 billion in taxes this year. This statement follows his earlier claim that he would be paying more taxes than anyone in the history of the country this year. 

Musk Tweeted on Sunday and gave the information about the amount of money that he would be paying in federal taxes. According to the estimate made by Forbes, Musk owes about $8.3 billion to the US government although according to the claims made by Musk, he would be paying more amount than the estimates suggest. 

The market capitalization of Tesla has surged past the level of $1 trillion and as of December 13, Musk had sold Tesla stock worth $13 billion. According to the real-time billionaire’s list on Forbes, the net worth of the Tesla founder is $244.2 billion. This makes Musk the richest person in the world followed by the founder of Amazon, Jeff Bezos whose net worth is second by a difference of $50 billion. 

Last week, Musk had sparred with Senator Elizabeth Warren after the senator accused Tesla’s founder of not paying enough taxes. Warren demanded a comprehensive change in the tax policy of the country so that the people like Elon Musk would actually pay taxes and not “freeload.” 

Replying to the senator accusations, Musk stated that he would pay more taxes than anyone in the history of America. According to the report, the wealth of the billionaire increased by more than $13 billion between the years 2014 and 2018, and he paid $455 million in taxes in the same time period. Also, Musk paid no tax in the year 2018, according to the report.

TurboXBT, a synthetic digital assets trading platform that gives its users instant profits, has designed several ways to turn some of the most complex trading experiences into a relatively easy venture to make money online. The platform gives a high Return on Investment (ROI) of almost 90% per trade, making it one of the most profitable trading avenues in operation globally today.

TurboXBT is a relatively new trading outfit; however, it showcases a number of innovative features that give it a strategic headstart in the fast-growing hub for digital assets trading. The platform makes it easy to trade 17 synthetic assets covering cryptocurrencies, commodities, indices, and foreign exchange. Discounting its age, TurboXBT is on track to tag amongst the largest short-term trading platforms around today.

Turning Complexity to Simplicity: The TurboXBT Influence

Trading all forms of investment products is expected to be an easy affair, but this is largely not the case, as scores of platforms that offer digital assets trading do so with highly complicated and difficult to comprehend interfaces, and models amongst others. The evolution of trading innovation has opened access to participation by members of the public, like trading a few years ago is largely confined to a selected few.

TurboXBT is amongst the next-generation exchange platforms that are seeking to revolutionize trading ventures, and despite its focus on short-term synthetic assets, its strides are raising the bar across the board.

Beyond the simplicity in the design of the frontline TurboXBT interface, here are some of the ways TurboXBT has turned complex trading into simplified activities for everyone;

Registration

Starting off a journey with any short-term trading platform will require opening an account with such an outfit. This process with TurboXBT is highly simplified as users can get aboard the platform using just their email addresses and passwords. This is so as the exchange is not obligated to impose a Know Your Customer check which oftentimes is cumbersome, and even when successful, poses a source of the attack to users’ personal data and the trading platform, respectively.

Trade Placement

This is where it gets confusing for many users as the broad design of the majority of competing platforms is structured such that placing a trade is typically reserved for professionals. TurboXBT is changing the narrative as placing a trade after a successful account funding is straightforward and requires a few clicks. Here is the simple guide for those in need of a direction to navigate; the user selects the asset pair to trade, for example, the BTC/USD pair. A suitable time frame that is visible on the chart interface is then chosen, and the trade is executed by clicking either the green UP button for the upward trend or the red DOWN button to bet on price falls. Trade winnings are dependent on whether the traded pair gained or lost in value within the set time limit. 

The simplicity of the dual contract model, whether UP or DOWN, is revolutionary in itself as it helps users understand what to expect with each position they get to make.

Demo Account

A very crucial feature for TurboXBT is the Demo Account feature that accompanies every newly registered account. This demo account is so integrated to give every user an equal chance at success as they venture out to make money online, and with TurboXBT. With the $1,000 funds credited, users can try out their strategies, and learn about the correlation between time and asset price growth, amongst others. The demo accounts are expected to simplify actual trading experiences through constant practice as a tool.

Telling a Different Story

TurboXBT can be said to be telling a whole lot of different stories with all of its unique platform design. Beyond direct trading provisions, the exchange also took a different approach with key operational aspects of its operations, including charging no commission on deposits, withdrawals, and earnings. 

The exchange is also telling a different story with respect to its affiliate programs, where it pays users 50% of earnings from their attracted leads as long as the new users continue trading on the platform. With more of its unconventional approach, TurboXBT hopes to chart a new narrative as digital asset trading veers towards a more global and mainstream adoption curve. 

As per trading reports received early on Monday morning,  Asia -Pacific shares rose as Hong Kong’s Hang Seng index made a comeback after falling into a bear market last week.

The Hang Seng index increased by 1.32 percent, while the shares of the China-based tech conglomerate Tencent shot up by 3 percent.  The Hong Kong Exchanges and Clearing saw its shares shoot up by almost 6 percent.

As regulation-related uncertainty blurred the vision for China-based tech firms, the Grasp Seng index fell more than 20 percent last week, putting it more than 20 percent below its mid-February surge.

Shares in mainland China language also surged, with the Shanghai composite rose by 1 percent and the Shenzhen component saw an increase of 1.434 percent.

The Nikkei 225 index in Japan increased by 1.82 percent and the Topix index increased by 1.9 percent.

The Kospi index in South Korea increased by 1.52 percent. LG Chem’s shares, on the other hand, dropped by more than 10 percent. After identifying manufacturing flaws in some battery cells made at LG manufacturing facilities, General Motors said on Friday that it was expanding its recall of Chevrolet Bolt EVs.

The S&P/ASX 200 index rose 0.29 percent in Australia.

Outside of Japan, MSCI’s largest index of shares in Asia-Pacific shot up by 1.49 percent.

Asia-Pacific stocks gained on Monday after losing the previous week. Concerns about the US Federal Reserve’s anticipated tapering as well as the spread of the Delta COVID-19 variant continue to influence investor sentiments.

With the popularity of cryptocurrencies in the financial world, investors are exploring new ways to incorporate advanced technology in their trading strategy to make a handsome profit.

Due to online learning tools, it has become easy for the self-learners to benefit from the advanced tools and technology. When it comes to crypto technology, a trading bot is the most popular one among all. A trading bot removes the hassle of portfolio construction as there is a quick need to execute, devise, and maintain a good trading strategy in this volatile crypto market.

Why Trading Bots?

Trading bots have been available since the 2000s, and they were first introduced in forex trading. Trading bots are the automated trading system that maintains a considerable volume of assets worldwide.

Trading bots are usually software programs that use artificial intelligence and machine learning to execute cryptocurrency trades according to predefined algorithms.

These bots help in generating risk-adjusted returns. There are two reasons why using bots is excellent. Firstly, bots can make the entire system more straightforward and easy. They can also take care of different factors like index construction, portfolio diversification, rebalancing, etc. However, it would help if you remembered that you need to take care of the basics and keep track of the trading bots’ cryptocurrencies.

Secondly, trading bots are used to do automating functions that are time-consuming, repetitive, and complicated. A trading bot can efficiently complete repetitive tasks like finishing hourly rebalances and executing a trade at the right time. It also automates the strategies not to miss your profit share when you are not available.

There are two main kinds of trading bots: for trading and the other is for arbitrage. Crypto bots for trading mainly focus on a simple strategy: buying currencies at a lower price and selling it at a higher price. On the other hand, arbitrage bots trade in different exchanges, buying currency from an exchange where the price is lower and selling it on another exchange where the price is a little higher.

How Do Crypto Trading Bots Work?

A crypto bot works on a pre-set strategy that the trader manually sets. If the strategy is less configurable, there are fewer chances of influencing the strategy. The crypto bot’s biggest benefit is that if more advanced settings are set, the bot can bring huge profit to an experienced trader. However, if a trader is inexperienced, the presence of many parameters may confuse him, which may cause him to lose his money. So, for the beginners, the ideal crypto bots are the ones that already have set parameters and strategies like stock market strategies, strategies specially designed for a specific currency, etc.

How to Create Crypto Trading Bot in Python?

There are two main ways through which you can get a crypto trading bot which are:

1. Coding – Crypto robots are made to work on the crypto exchanges that a trader wishes to trade on, and for that, one of the biggest conditions is that the exchange should have a trading API (Application Programming Interface). API is a set of information about the current trade which lets users participate in trading on specific parameters. However, that doesn’t mean that it’s impossible to construct a bot in python without API but developing it will take a lot longer without API.
2. Purchase – It’s easy to buy bots from the developer if you don’t know how to code. Some companies offer bots of different classes at varying prices. You can save money and get a simple bot for one month, or you can get a trading bot with multiple strategies that you can use untimely. If you want, you can also get it customized, but of course, the price of such crypto trading bots is higher.

Is It Helpful?

Many people doubt if crypto trading bots are beneficial or not. However, using bots for crypto trading has its pros and cons. Here are the advantages:

1. Time-saving – Making a profitable trade takes time which can also include 10-15 hours. However, robots can help you save time as they can work for 24 hours without needing a break.
2. Speed – Trading bots can do all the necessary calculations in no time and can place buy/sell orders quickly.
3. Accuracy – Humans can make errors in calculations, but a trading bot cannot. The calculations done by a crypto trading bot are accurate, which increases your chance of making a profit.

In addition to benefits, there are some disadvantages as well which are:

1. Commissions – A crypto trading bot, if not configured well, can cut down the profits. The best way is to start trading on the exchanges with positive maker fees and earn commissions while placing orders.
2. Black swan event – It can become almost impossible to trade if there is any problem with the bot’s connection like API and internet blackout. When such things happen during huge volatility, there can be big losses. It is important to get a bot that can work 24/7 with no API connection and crypto exchange issues.

Takeaways for Your Python Trading Bot

Being a beginner in trading, you can make a lot of mistakes while learning to trade. But with experience, you can learn the patterns and become a good player. To make things simple, you can invest in a good trading bot that can complete the trivial task for you. However, finding a good trading bot is also not easy; you can make mistakes before you find such a good program.

Finally, you should also remember that a crypto trading bot can only bring profit if the strategies are reconfigured and reviewed periodically, which means you need to understand how it works and what it does.

Conclusion

For crypto trading like said here in complete stormgain review, you need few skills to make everything work. If you can get through all that and find the right bot for you, then it can be rewarding for you, given your bot has pre-set strategies that work. The best part of a trading bot is that it can do the things that exchanges won’t allow you to do. Bots can be easily programmed to do things like accumulation and arbitrage. There is no limit in crypto trading if you can find the right bot for you.

Interest rates drive the foreign exchange market. Global rates of interest rule the world of forex trading. The expert forex traders closely monitor the interest rates of every country to predict the right time to trade in the forex market. It is of utmost importance to keep an eye on the varied interest rates.

How does the interest rate affect forex trading?

The interest rates of the world

The monetary policy of the central bank is the driving force of the interest rates of the world. Whenever there is a change in the expected interest rate, the currency follows suit as well. The central banks wield a variety of tools of fiscal policy to influence the movement of interest rates.

The central bank generally performs two significant tasks. These tasks include the management of inflation and maintenance of the stability of the exchange rate of a country. The interest rate of a country is an estimation of the country’s economy. The central bank strives to increase the interest rate when the economy of a country grows and thereby induces inflation. On the other hand, the decline of interest rates during economic descent tends to stimulate the economy. Economies are always contracting or expanding. The central banks monitor the rates of inflation and permit the steady growth of the economy.

Economic cycle and interest rates

The consumers in the market begin to earn more when the economies rise, and the GDP witnesses a positive growth. The increase in earnings leads to an increase in the amount of expenditure, which eventually causes growth in inflation. The central bank strives to control the inflation growth and support the level of the target by increasing the interest rates.

When the economies recede, and the GDP witnesses a declination, the deflation in the market tends to be threatening for the forex traders. The central bank then steps in to decrease the currency interest rate for the stimulation of investments and spending. The low rate of interest attracts more and more investors. The forex market experiences a favorable growth in investment, which stimulates further economic growth and employment, leading to inflation. The forex trader needs to keep track of the impact of interest rate on the currency of a country. The higher the interest rate of the country, the greater is the probability of the growth of the currency.

Expectations of interest rate

The expectation of the occurrence of a variety of events constantly continues to change the dynamics of the market. A majority of the foreign exchange traders rarely consider the current interest rates. The forex traders usually try to forecast the overall direction of the interest rate, but it is more prudent to keep an eye on current events and updates for more efficient and profitable forex trading.

The forex trader needs to understand that the interest rate always shifts with changes in the fiscal policies of the central bank. If the interest rate keeps going down, then there will be a shift in the expectation, which will trigger a speculation shift as well. Besides, the gradual shift, there can be sudden shifts in interest rates as well, so it is better to stay alert all the time to make the most of forex trading.

Interest rate differentials

Forex traders often apply the widely popular trading technique of comparison of interest rates between two currencies. The comparison indicates whether the currency will weaken or strengthen while trading. The value of interest rate differential is the difference between the values of two interest rates. It also helps in calculating the probable shifts in currency interest rates. The foreign exchange market witnesses the biggest swings when the interest rates of two currencies move in opposite directions. And when the interest rate of one currency rises, while the other falls, the market experiences erratic fluctuations.

Nominal vs. Real Interest Rates

The nominal interest rate refers to the base rate or the interest rate of the currency before inflation. It is more profitable to focus on the real rate of interest instead of the nominal rate of interest during forex trading.

Keeping tabs on the interest rate is important for successful and efficient trading through forex trading brokers in the foreign exchange market.

Digital currency exchange (DCE), also called cryptocurrency exchange, is a web-based business that provides customers with services for trading any cryptocurrency for various assets like fiat money. The platform works solely online, and provides exchanges in electronic form and charges a fee for them.

Standalone traits that successful Cryptocurrency Exchange have

Today, there are around 1,600 cryptocurrencies in circulation, with a total market cap of nearly $289 billion. Given are five, among many, of the important features of successful cryptocurrency exchanges.

• Decentralized trading

This no-central-authority feature is the most advanced way to trade the cryptocurrency. As traders, it is natural to seek zero interruption and expect complete control over funds while conducting e-commerce. Exchanges are verified through cryptography by network nodes and recorded in the blockchain. This way, third parties cannot play middleman when two primary parties trade between them.

• Instant buying/ selling attributes

Not all come to trade on a cryptocurrency exchange. Some are there looking out for a quick option to either buy or sell a Bitcoin. Therefore, a cryptocurrency exchange should be flexible enough to accommodate the needs of both traders and nontraders. For one-time traders, the exchange should provide easy to access and instant order-placing features.

• Facilitate multi cryptocurrencies and multi-currencies trading

People do not transact just with Bitcoins in crypto trading; they look out for options that allow them to trade any small-cap cryptocurrency of their likings, such as SelfKey, monero or ripple. Therefore, an exchange should take into account the different categories of traders and allow everyone to exchange with any type of cryptocurrency. Further, a global exchange would facilitate currency pairings with more than 50 fiat currencies, not just with the USD and EUR.

• Margin trading

Margin trading is cryptocurrency trading where traders borrow money from a brokerage to buy an investment. It leverages a trader’s position to a trading eligibility level where marketeers can exchange more Bitcoins with the funds they have. A margin amount is loaned to the traders who, in turn, provide collateral, i.e., securities held in the investor’s account, for the deposited amount at a certain ratio level. When traders reach the eligibility mark, they can trade with the loaned amount. After the trade closes, the traders should return the loaned margin amount with interest.

• Futures trading

Futures trading is the exchange of any asset, e.g., cryptocurrency or real assets, at a fixed price conducted at a specified future date/time. The trading process is carried out based on a futures contract that represents the tradable resources’ value. Futures trading protects sellers against price falls and buyers against future price increases.

Some of the other key features facilitating a successful cryptocurrency exchange include:

• lending,
• token listing/IEO(initial exchange offering)/Launchpad,
• community interaction,
• validness and security,
• UI/UX functionalities
• low fees, and
• reliable customer service.

Conclusion

Crypto trading has become very easy and efficient with the help of platforms such as Bitcoin Code Review. It provides an automatic and manual trading facility. Click for more information. Regardless of a trader’s experience level in the cryptocurrency exchanges, these traits would make it possible for a successful and dominating cryptocurrency trade.

The debate between cryptocurrency and Fiat currency has just got interesting. Especially in the wake of the coronavirus epidemic, which has literally devastated our overall economic scenario, questions are now put up against the efficacy of the fiat currency to save our global financial system. The highly contagious disease has virtually put a full stop on businesses with most of the production and service activities cease to be operational.

Amid such doom and gloom, most nations are scrambling to hedge their economies against the devastating impact of coronavirus. Rescue packages are being announced as central banks come into action to support their dwindling economies. One such significant announcement has come from the Federal Reserve, which has announced that it is going to infuse infinite currency into the system. This, in turn, poses serious questions about the valuation of Fiat currency.

Law of Economics

It is a well-known law of Economics that an increase in the supply will have a negative impact on its demand and vice versa. More money you put into the system, less desirable it will become. The same law applies to the valuation of Fiat currency and the decision of the Fed to immediately supply $1.5 trillion is bound to have a negative impact on the dollar’s value. This decrease in the value of the dollar is expected to prove beneficial for other avenues of investment, such as cryptocurrency, gold, and other commodities.

Specifically, the value of digital coins is expected to rise as investors will switch to the safe heavens of investment where they can earn more profit on their investment. It is true that the coronavirus pandemic has also had some negative impact on the cryptocurrency market, but then one needs to appreciate the resilience of the digital coins, which bounced back from the initial shock immediately. The recovery was quick, especially when compared to the stocks in the equity market and now the crypto market is looking well-placed to consolidate its position as the growth curve of coronavirus infections seems to flatten out.

Another important indicator that points towards an increase in crypto valuation is the upcoming event of Bitcoin halving, which will sometimes happen in the month of May this year. Post the event, the rewards associated with the mining of Bitcoin will be halved from its current level of 12.5BTC to 6.25 BTC. As per the analyst of coinlib.io, this will constrain the supply of the digital coin in the market, thereby making it more valuable. The increasing adoption of Bitcoin and other digital currencies across the globe is also expected to give a fillip to their value. Governments and Central banks are now realizing that the adoption of cryptocurrency is only going to favor them with high efficiency, low operating cost structure, and global reach. In sum, the coming time seems to be more favorable for cryptocurrency, while the fiat currencies embrace uncertainties and turbulence amidst speculation of a global financial meltdown.

Bitcoin Circuit

Amidst this favorable scenario, if you are also thinking of taking a plunge into cryptocurrency trading by becoming part of the Bitcoin community, then there is no better place to start then the automated Bitcoin trading software, the Bitcoin Circuit. According to the Bitcoin circuit review, this automated trading software is very convenient to use and can help you to earn a handsome amount of money from your Bitcoin investment. Give it a try and feel how convenient and easy it is to trade with Bitcoin Circuit.

Euro Prime is one such online brokerage firm that offers a unique trading platform to its traders. The firm is to provide a seamless trading experience to all its traders. With exceptional customer service and trading platforms, the Euro prime is one of the leading brokerage firms, which is highly popular among the traders. The availability of a wide range of tradable assets makes it one of the best trading platforms.

The firm is best for both novice and seasoned traders. The trading platform that the firm offers has all kinds of tools and charts to help the clients to predict the financial market. The trading platform is advance but still easy to use even for the beginners. The firm offers SIRIX web trader for trading to its clients. SIRIX web trader is one of the most praised trading platforms which don’t need any software to download. The SIRIX web trader is accessible through all devices like mobile, PC, tablets, etc. The firm has also launched its SIRIX mobile app which is highly suited to the traders who are on the go. With the help of the SIRIX mobile app, a trader can keep a record of his trades and balance anytime and anywhere.

Making deposits with Euro Prime is easy as it supports various deposition modes like bank transfers, credit cards, etc. The firm offers multiple accounts to its clients, and a client can pick any account he like considering the risk that he can bear and his experience with trading. One of the best things about the firm is that it allows all the account holders to take benefit from its educative material. The various accounts that the firm offer is Mini, Standard, Platinum, VIP, Islamic, and Gold. The informative resources are available in all formats including pdfs, videos and eBooks. The firm strictly follows KYC and AML norms and is registered with the International Financial Services Commission of Belize.

The firm offers extraordinary customer service which is available 24/7. Anyone can reach to their support team via live chat, email, and calls. The website also has a dedicated FAQ section where anyone can find the answer to different types of trading questions.

The Euro Prime trading platform offers multiple charts and analytical tools which help the traders to trade profitably. The online brokerage firm also provides daily, weekly, and monthly market analysis. Though the financial market is unstable, the availability of the firms like Euro Prime boosts the chance of profit from trading.

In a recent declaration from the Reserve Bank of India (RBI), it remarked that the citizens of India don’t need cryptocurrencies as the nation’s mainstream financial system had already been working on solutions for cross-border remittances. However, RBI pointed out the legal status of cryptocurrencies in the nation and confirmed that there is no ban on cryptocurrencies.

In RBI’s response to IAMAI’s petition, the bank clarified that the cryptocurrencies are not banned in India; rather, it made it clear that commercial banks and other several regulated financial establishments are prohibited from offering their services to the cryptocurrency business.

The RBI vs crypto hearing has witnessed innumerable happenings in the last few days. You can get a detailed look at what took place inside the court room yesterday.

The RBI also stated that,

The RBI has been able to ring-fence the entities regulated by it from being involved in activities that pose reputational and financial risks along with other legal and operational risks.

It was a response from the Central bank to a petition filed by the Internet and Mobile Association of India (IAMAI), which requested the Central bank to re-evaluate 2018’s circular to refrain from dealing with cryptocurrencies.

The IAMAI members comprise of cryptocurrency exchanges, which had earlier approached the Supreme Court of India against the RBI action. Earlier this month, in a hearing, the association put forward that banning the trading of cryptocurrencies with the absence of law was a legal business activity; yet, RBI had efficiently banned it by obstructing the access to banking channels.

Further, the RBI had highlighted a few risks, which included money laundering and terror financing by using cryptocurrencies. The supporters of crypto had argued that cryptocurrencies open up the financial sector, which creates a more comprehensive ecosystem. Few of them suggest that payments using cryptocurrencies are much faster and cheaper than mainstream counterparts.

As far as RBI is concerned, cryptocurrencies raise money laundering threats and may finance terrorist attacks explaining,

Any possible avenues which facilitate anonymous cross-border fund transfer have to be acted upon swiftly and stringently dealt with. It is an admitted fact that VCs have been used to purchase illegal and illicit goods ranging from guns and ammunition to drugs.

The Response from RBI also disclosed that, during the discussions earlier in 2018 with the government on whether to regulate or ban cryptocurrencies, the RBI stated that ICOs are prohibited and asset funds in virtual currency are not allowed to operate or set up within the Indian Jurisdiction.

As per legal experts, the viewpoint on crypto trade might pose a risk to sovereignty could be a weak point if not attested with few examples of using virtual currencies to fund terror attacks in the past.

After looking at the developments throughout the day, CryptonewsZ reported that RBI had not done good research before announcing its anti-crypto directive.

The Senate in Mexico has passed the US-Mexico-Canada Agreement (USMCA) trade deal by an overwhelming majority of 107-1.

Mexican President Andres Manuel Lopez Obrador said,

In Mexico, we did our part. The executive (branch) signed and the Senate ratified the USMCA. Now it is up to the Congress of the United States and Canada to do the same. This is good news.

The USMCA will cover $1.2B in trade every year and support 12 million jobs in the US account for a third of US agricultural exports.

The USMCA replaces the North American Free Trade Agreement (NAFTA). US President Trump had opposed NAFTA and said that it favored Mexico and Canada over Americans. His administration had initiated talks with the two countries to make changes in NAFTA. The result was the USMCA.

The US government had finalized the USMCA last year, but it faced opposition from the Democratic Party and hence, the government began consultations with Democrat leaders in the House to address their concerns.

In a major concession to the Democrats, a clause for a 10-year cap on production of patented biologics was removed and cap on production was retained at eight years in Canada and five years in Mexico. This was done to allow greater control over drug-pricing.

Democrats also secured major concessions in worker rights, including those of migrant workers and preventing gender discrimination at the workplace.

After months of negotiations and getting the House Democrats on Board, the three governments of the US, Mexico, and Canada finally signed the USMCA on Tuesday. The US and Canada are likely to take up the Bill in early 2020.

Mexico’s chief negotiator Seade urged the US and Canada to pass USMCA quickly for better jobs and living standards in the region.