CEX SIGEN - sigen.pro

[SIGEN]

What is a Softfork for Cryptocurrency?

A softfork aims to improve the existing cryptocurrency network. It happens without users noticing the very moment of interference — they just take its consequences for granted.

Incomplete update

A softfork does not require a major interference with the cryptocurrency's master code, and all changes are backward-compatible. This is the main difference between a softfork and a hardfork, with the latter, roughly speaking, generating a new coin. A softfork happens within the existing network, and its objective is improving network operations without making significant changes.

It's a sort of regular software update we all have to make by uploading updated versions of old software, e. g. word processing or image editing apps. Old versions accumulate too many non-critical mistakes, or users request some improvements to be made. It leads to the need for an update; in case of cryptocurrency — for a softfork.

How it happens

In the Bitcoin network, a softfork happens as follows: the system is “rolled back” in time, and new blocks replace the old blocks while the chain of blocks remains unchanged. New blocks are identical to the old blocks in terms of structure. After the softfork, “old” blocks are validated along with the new blocks. All transactions before and after the softfork remain equivalent in value.

A softfork is usually administered by a team of developers after they discuss the idea with the user community. Since, however, cryptocurrency has an open source code, a useful change may be implemented by any user if they approach the community with an idea and the community approves of it.

The most well-known softfork in the Bitcoin network is SegWit that was successfully implemented without a hardfork.

 

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Hidden Order: Why You Need It and How You Can Submit It

For certain reasons, some investors prefer to hide large-size orders submitted for trading. These orders are the so-called “hidden orders”.

A hidden order allows the trader not to display the real number of buy / sell transactions for large amounts of cryptocurrency. This order is not displayed in the order book.

Creating a hidden order on Sigen.pro

On the Sigen.pro cryptocurrency exchange, you can create a hidden order whenever you fill up the “Buy” or “Sell” request. You can just tick the relevant checkbox, and the market players will not see your order.

According to research, hidden orders are a manifestation of growing trading activity on the market.

Finding a hidden order

Observant traders may notice the exchange has a hidden order out there. If you can see a certain number of buy or sell requests, but you can actually buy or sell more at the indicated price, it means a hidden order has been activated.

Moreover, the total volume of the order book will be larger than the amount of all visible orders. Finding hidden orders may be useful to amend the forecast for the cryptocurrency exchange.

 

[SIGEN]

Jaxx Wallet: What It Is and How It Works

The Jaxx wallet is seen as one of the most popular wallets among cryptocurrency users. This wallet is used for “cold” storage of coins; it has a mobile, web-based and desktop versions (the latter is a portable version you can store on and launch from a USB drive). It has no particularly unique features that would make it stand out among other wallets. Let's have a closer look at it.

Security

Many users think that Jaxx is one of the leading wallets in terms of security. Its set of features allows you to make backups and restore wallets on other devices, use the payment PIN code feature and obtain a private key.

What it can do
- Jaxx is integrated with the ShapeShift cryptocurrency exchange allowing users to exchange coins within the wallet, even though for a fee.
- You can use Jaxx to store BTC and ETH or some new coins growing in popularity. In total, it supports several dozens of coins.
- The wallet can be used with Windows, Linux, OS X, Android and iOS. Additionally, you can set up the Jaxx extension by Google Chrome for your browser. You can also synchronize all wallet types on various devices.

How it works

You're recommended to download the Jaxx installation file via the official web-site jaxx.io. Select the suitable version of the program, download the installation file and install the wallet. In the process, you will be prompted to accept the Terms of Use.

You're recommended to select the coins you're confident you will use — don't overload the wallet.

Naturally, the most important recommendation is making a backup copy and saving the secret phrase which includes 12 words for this wallet.

 

[SIGEN]

What is a “Short” and a “Long”?

The terms “long position (a long)” and “short position (a short)” are key concepts for the stock exchange. Despite what their names suggest, these fundamental trading strategies have no connection with the transaction duration.

Long Position (or Long)

A long (or long position) is the main method of trading wherein a trader expects the asset to rise in value over short or long term. In other words, the trader buys cryptocurrency “in the hope of growth”. This is what “bullish” traders do. Traders who go long on cryptocurrencies virtually shoulder the entire market preventing cryptocurrencies from falling in price too much.

Short Position (or Short)

A trader who “goes short”, i. e. enters into a short position, sells cryptocurrency with the expectation that it will fall in value.

Short positions allow the trader to make profit when cryptocurrencies become cheaper. In this case the trader borrows tokens or buys them on credit. They sell the tokens at the current price during a downturn and buy them back at a lower price in order to cover their debts. Traders who choose this strategy are “bearish”.

Experienced traders can make profit on both long and short positions. However, most of them will only opt for one option rather than use both. Please note that long positions are much more favorable for the growth of the cryptocurrency market.

 

[SIGEN]

The dollar is used for illicit trade far more often than cryptocurrencies

Governments and central banks of many countries have repeatedly accused bitcoin and other cryptocurrencies of complicity in illicit trade and money laundering. They say that bitcoin is used to finance terrorists, sell weapons and drugs, etc.

We disagree with this view. To justify our position, we would like to cite the recent statement by the US Treasury Department, which personally refuted this torrent of negativity. The agency's representatives directly stated that fiat money, especially the dollar, is used for criminal purposes far more than bitcoin.

Criminals prefer fiat money

So, no matter what people say, officials indicate that criminals prefer dollars. Moreover, most trade happens through banks and various payment services that position themselves as law-abiding businesses.

According to the UN, illicit trade brings criminals an annual income of about $2 trillion. By comparison, cryptocurrency-based revenues from such activities are a drop in the bucket.

This statement by the US Treasury is an excellent response to all cryptocurrency detractors, who occasionally call for banning bitcoin because it is frequently used by criminals for illicit trade. Logically, the dollar should also be banned, since it is used for these purposes much more often. But nobody is demanding this.

This statement can also be regarded as a positive signal for cryptocurrencies' further development and legalization.

 

[SIGEN]

What is a Node in a Cryptocurrency Network?

A node is, in essence, any computer connected to the blockchain network and using the P2P protocol. Nodes use this protocol to communicate with each other distributing information about transactions and blocks across the network. Strictly speaking, nodes are the key component of the blockchain network.

Nodes may be lightweight and full

A full node is any computer that is fully synced with the blockchain network. Each full node has a copy of all blockchain data — starting from the genesis block and ending with the last generated block — on its hard drive. After each new block is created, information is updated, i. e. it's always up-to-date.

A light node is also fully synced with the network, but it does not store all the information from the blockchain on its hard drive — it only services the network. Most nodes in the network are lightweight; however, full nodes form the backbone of the network.

What are nodes for?

All nodes support network operations: they automatically validate transactions and generate new blocks while protecting the network from fraudulent activities. In many networks, node owners (miners) are rewarded with new coins that are generated with new blocks.

 

[SIGEN]

Using Exchange on SIGEN Platform

The SIGEN platform has its own cryptocurrency exchange with easy-to-use and convenient functionalities. You can use it to make profit on price fluctuations. Buy cryptocurrencies at one price and sell them at another price to make money.

How do I start trading?

First of all, fill up your exchange account. To do this:

- Click the profile icon in the upper right corner of the page to open the menu. In the Deposit/Withdrawal section, select the line with the appropriate cryptocurrency wallet and click it to see your one-time address to deposit funds (the address will automatically change after each deposit).
- Transfer funds to the indicated address and wait for the proper validation of the transaction in the blockchain for the transfer to be deposited on your account.

After the transfer is completed, you can start trading on the exchange. Navigate to the Exchange section and create an order with the terms you want. To do this:

- Select the cryptocurrency pair of your choice in the upper right corner of the page.
- Create a buy or sell order. Click the amount next to the Available label, and the system will automatically make a calculation for the entire amount based on the current market price. If you want to change the price and the amount, do so manually. You can also create multiple orders with varying terms.

Please note: you can buy/sell cryptocurrency instantaneously if the Buy orders and Sell orders columns already include orders that comply with your terms. If currently there's no match, your order will need some time to work — you'll need to wait for other exchange users to respond.

An order may require one or multiple transactions to work, depending on the market demand. After each transaction, the appropriate amount will be displayed on your balance.

As you can see, using the SIGEN exchange is really easy, and your profit may be quite large since cryptocurrencies are very volatile, and their price may change by hundreds of percent in a single day. All you need to do is understand how the exchange works and start trading.

We wish you successful trading and large profits!

 

[SIGEN]

Happy New Year from SIGEN

Save on fees with SIGEN

Different crypto exchanges charge different fees on transactions, deposit, and withdrawals. Most often the fees are pretty high. Is there a way to avoid high fees? Yes.

Fees are a headache for traders and investors.

When trading in crypto exchanges, the thing traders and investors complain about most is high fees. A fee is in the amount of some percentage of each transaction. Moreover, in some crypto exchanges only buyers are charged with a fee whereas in others both buyers and sellers have to pay a percentage.

A crypto exchange can also charge different fees on withdrawal to different payment systems. Sometimes, with the help of the amount of a fees, crypto exchanges give preference to a particular cryptocurrency. In other words, most of cryptocurrency exchanges use fees as a great possibility to manipulate users' behavior and make money on it. However, not all exchanges stick to this policy.

SIGEN has no fees charged for cryptocurrency deposits/withdrawals while the transaction fee is just 0.1%.

The SIGEN platform doesn't use fees as a means of pressure on traders. It has the lowest possible fees.

- No fees are applied to cryptocurrency deposits and withdrawals
- The fee for a transaction on P2P platform and exchange is charged both for the buyer and the seller, and equals to 0.1% from each party.

These conditions are attractive for all traders but they are most favorable for newbies who due to high fees on other platforms, can't make a big profit.

Low transaction fees and no fees applied to deposit and withdrawal allow traders including those trading with a small amount to trade with no losses. We follow this policy as we intend to make cryptocurrencies available for anyone.

Use the SIGEN platform and take advantage of the lowest possible fees.

 

[SIGEN]

Analysis of News Context for the Crypto Market

The crypto market is strongly dependent on the news. Traders — both bulls and bears that are basically in a real “war” — benefit from it. The “warfare” is also joined in by manipulators and conmen who try to make a stir and make money from random actions by traders.

Implications of the news context

The price of conventional assets, such as company shares, is based on capitalization, financial statements, and observable factors available for analysis. However, it's still unclear what the cryptocurrency market responds to as this market is very young, and a lot of factors remain to be identified and described.

At the same time, most traders acknowledge that news have a strong impact on the crypto market. Both bulls and bears leverage the news context to shift the cryptocurrency price in their favor. They arrange publications with a negative or positive market assessment or actively support the published articles in the mass media. The conventional asset market would view this behavior as a manipulation attempt that would possibly be punishable, but the cryptocurrency market is still underregulated.

Conmen also contribute to the news context, but more often they try to make a stir around a lesser known coin that is allegedly unique and about to “score a big win”, with its price rising and all those who have been able to buy it making profit. This is the so-called “pump hyping”. The new “promising” coin scores no “big wins” while the investors pay into the pockets of the conmen with real-value coins.

How news should be analyzed

To analyze the news context, select a few reliable sources that have been publishing news regularly, seamlessly and for a long time, at least a few years. There are web-sites that aggregate news from hundreds of sources, but you would have to prioritize them on your own.

A very useful source of news is the social networks and resources for experts.

However reliable a source is, you have to check each piece of news against multiple sources, especially if it's hyped-up news. No editions or specialized resources, not even the most reliable ones, are insured against fake news.

Below is a list of information types that could affect the price of cryptocurrencies:

- Any changes in legislation related to cryptocurrencies, ICO and blockchain. News about the coin being listed by a well-known crypto exchange.
- News about the coin partnering with a big player at the conventional market, such as a bank or a big corporation in the real sector.
News about a top-class specialist from the real sector joining the team.
- Significant progress in developing the coin: release of new important software, a new stage in the development process, etc.

However, experience has proven that it's impossible to precisely tell that a particular piece of news is going to affect the market and how it's going to affect it. You just need to remain vigilant.

 

[SIGEN]

Cryptocurrency Trading: Where to Start

Investing in cryptocurrencies attracts more and more people, as does cryptocurrency trading. However, before entering the cryptocurrency market, one should do certain things to create a solid base for further success.

Sources of knowledge

First, you need to try and find out as much as possible about the blockchain, cryptocurrency, crypto market — study all materials you possibly can. But don't delve too deeply into the technical details and blockchain history — focus on the financial aspect instead. You can find abundant information on YouTube, Telegram channels, etc.

Storage for money

When working on the crypto market, you must select a storage for your coins. Historically, cryptocurrency exchanges are not a safe place for storage — they're prone to technical glitches, hackers carry out successful attacks on them, exchange management can even change the rules at their discretion. This is why a more reliable option is a wallet or multiple wallets on computers that must also be copied to the external media. You should, however, retain some money on the exchange — just in case you will need to rapidly react to leaps prices.

Market gurus

The key and most influential news of the cryptocurrency market originate with cryptocurrency founders, advanced crypto enthusiasts with multi-million income and successful crypto investors. Among others, they include Charlie Lee, Vitalik Buterin, Roger Veer and about 10 more names. You should follow them in the social media.

Colleagues

You should also join chats of cryptocurrency traders. Here you can find practical knowledge about trading and consult experts avoiding mistakes. But don't trust all of them blindly. First of all, trust what you've learned yourself.

Cool head and iron nerves

One of the first rules to be adopted by a fledgling cryptocurrency trader is avoiding to trade on an impulse. In other words, don't give in to excitement or panic. Learn to play cool from the very beginning, stay reasonable casting aside greed and fear.