Before we start with Kucoin, I will share the last set of hints and clues on how to solve the NFT Hunt and grab a top NFT. The hunt will conclude tonight at 23:59 UTC
If you are into fancy NFTs, have a look at the Devilish Cat I drawn in pencil ✏
Few days ago I received an invitation from Kucoin to test the new leveraged tokens in a sandbox activity. I like beta testing and the opportunity to try this new token in a sandbox environment was very appealing. Kucoin is one of the top crypto exchanges, launched in 2017, and growing since than. Publish0x and Kucoin partnership will make withdrawals hustle free and you can read about it in my post about P0x earnings and hot to manage them.
Followed the link and completed my registration, and got familiar with the new leveraged tokens. The new type of crypto derivatives will create an easier way of earning returns using leverage, but not as a contract. The new tokens will never be liquidated and will act as a real cryptocurrency. The BTC3L and BTC3S are tokens linked to Bitcoin, where the leverage has been applied 3 times. The BTC3L net value will increase 6% if the Bitcoin price grows by 2% and in the same scenario, the BTC3S will lose 6% of the value.
The Leveraged Tokens can be found in the Trade tab, under Spot and Margin trading. This option is available only for the Sandbox Activity and no date for mainstream implementation is available. For this activity, 5000 USDT will be shared between the participating beta-testers. Top three traders will get a big share of the prize while the rest of the participants with a positive balance will get an equal share of the remaining pot.
As part of the experiment, $10,000 worth of test USDT where credited for treading with BTC3L. The price of BTC3L was $11.21 and dropping, therefore I waited to drop even more and then went all-in on BTC3L, as I trusted Bitcoin to grow after the dip. I bought BTC3L close to $10.8 and this was the natural and logical choice of trading.
Only six minutes later, the BTC3L started to grow and I was already in profit. Decided to wait more and sell when the price will be even higher. My target for the trial was to end up with a positive balance and earn a share of the prize pool.
At $11.29 I decided that this is the moment to cash out and take the profit. Sold all the BTC3L and made a 10% profit from the initial investment. Now is time to wait for the sandbox activity to conclude and receive my share of USDT.
I started the sandbox activity with $10,000 USDT and ended up with 11,046.78 USDT. I am a HODLer by definition and I don't really like trading. I struggled to much with a gambling addiction to start "betting" on crypto prices. However, this kind of beta-testing is really enjoyable as will trial a product and the involved risk is zero.
Regardless the result of the sandbox activity with BTC3L and the implementation of the new leveraged tokens, I will start using Kucoin more due to the partnership with Publish0x. Also the first withdrawal of P0x earnings to Kucoin will have an extra 10% bonus. Work smart and earn smart.
Resources:
Publish0x & Kucoin: How to withdraw and manage your P0x earnings
Join Kucoin - PVM referral link or use the code 83sde4
Residual Income:
DeFi bounty at CakeDeFi with $30 DFI for new users
The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN
Publishing bundle: Publish0x, ReadCash, LBRY & Presearch
