What is the significance of virtual currency trading platform
The top ten virtual currency trading platforms are: bitcoin China, Ethereum, Monroe, dascoin, reborn, etc.
Bitcoin China (BTCC), the first and largest bitcoin trading platform in China, is operated by Shanghai satuxi Network Co., Ltd., which was established on June 9, 2011. The team members are mainly from China, Silicon Valley and Europebitcoin China provides a reliable trading platform for users to buy and sell bitcoin through RMB
users can also save bitcoin safely in the platform
bitcoin China has achieved the best balance between high security and user convenience
4. Monro (code name XmR) is an open source cryptocurrency founded in April 2014, which focuses on privacy, decentralization and scalability. Unlike many cryptocurrencies derived from bitcoin, monero is based on cryptonote protocol and has significant algorithm differences in blockchain fuzziness
Dash, formerly known as dark coin, is a technical improvement on the basis of bitcoin. It has good anonymity and decentralization. It is the first digital currency with the purpose of protecting privacy. You can feel that it is liked by the black market when you listen to its name The main characteristics of Dashi coin are as follows:1
2. Instant payment function, timely arrival and low handling charge
since then, the network and shell electronics have announced the stop of bitcoin payment. Recently, the central bank interviewed the third party payment agencies. Alipay and Fu Tong pass closed the virtual currency trading window such as bitcoin, resulting in a further fall in bitcoin prices.
it is also reported that the cooperation between banks and bitcoin trading platform is not supported by the regulatory authorities, which basically turns off the possibility of recharge and withdrawal on bitcoin platform, that is, blocking the mutual exchange between domestic bitcoin and RMB
bitcoin trading platforms such as "bitcoin China" and okcoin also resumed to charge 0.3% transaction fees, and increased the withdrawal fees to 1%. Some analysts believe that this is to prevent a large number of investors from cashing out
all kinds of signs show that bitcoin is getting worse and worse in China. However, the conclusion of bitcoin's exit from China may be overstated
first, bitcoin can be freely traded as a commodity
although the central bank does not recognize the legal tender status of bitcoin, it does not deny the legitimacy of bitcoin as a commodity and does not prohibit investment, trading and purchase of bitcoin. Ordinary people have the freedom to participate at their own risk
Second, the bitcoin trade has not collapsed yet
a bitcoin player said that the current transaction price of bitcoin is not low enough to lead to the collapse of the trade. The price of bitcoin is still higher than the cost price of bitcoin, that is, the price of mining< Third, the transaction channel is not blocked
although some third-party payments have stopped supporting bitcoin transactions, and banks are not optimistic, bitcoin trading platform can also use other third-party payment interfaces, or use foreign payment interfaces to pay. Some bitcoin trading platforms are considering transferring their servers abroad
the above-mentioned bitcoin player said that he once withdrew cash from his personal account to remit money to him. In other words, bitcoin transaction may bypass the third-party payment
at the same time, cash transaction is also a possible way of transaction< Four, the biggest risk of bitcoin trading is not regulation
the biggest risk of bitcoin trading is not government regulation, but security risks
bitcoin is at risk of being stolen by hackers. If there is a large-scale loss of bitcoin, it will directly affect the fairness of market transactions, which is a real "bottom-up"
however, at present, the security risks of bitcoin have not been fully exposed
the overall risk has increased
it must be admitted that the government's increased supervision has further increased the risk of bitcoin trading
moreover, the transaction threshold is obviously higher than before
in essence, as a means of investment, the risk of bitcoin is self-evident. If there is no final person to take over the offer, even if bitcoin is in short supply, it lacks real value and only has limited online use value. If you can't find the last recipient, bitcoin will probably disappear like a bubble.
model risk
virtual money is not real money, there is no central bank behind the total control and macro-control, its value depends entirely on its supply. For example, according to Nakamoto's algorithm, the final supply of bitcoin is 21 million, which will not be increased. However, if its model is found to be defective, resulting in a massive increase in money supply, the current trading platform and investors will lose their money
many algorithm enthusiasts have carried out repeated dection, and so far have not found the existence of model defects
risk possibility: 1
risk impact degree: 5
market depth risk
at present, the value chain of virtual currency is mainly composed of miners and traders, with less money supply and fewer market participants. Compared with other mature markets, bitcoin trading is not active and vulnerable to the impact of large capital inflow and outflow, resulting in sharp rise and fall. In addition, market depth risk will also lead to market manipulation risk and liquidity risk
platform risk
at present, many virtual currency platforms need to deposit funds into the platform to buy or sell. In order to attract investors, some platforms often offer free service charge. However, some free platforms are risky. For example, in October 2013, a bitcoin trading platform registered in Hong Kong suddenly ran away on the pretext of "being attacked by hackers", and all its executives disappeared. Later, it was estimated that the incident took away about 30 million yuan
should
Strategy: 1. After determining whether to invest in virtual currency and what kind of virtual currency to invest in, investors should investigate and screen the platform, not be affected by the small profits of handling charges, and choose a strong and reputable platform for trading behavior; 2. Investors should pay attention to all kinds of information of their investment platform and observe their reputation changes; 3. Regulators should bring the trading platform of virtual currency into the scope of supervision and require it to
pay reserve and margin to prevent such moral hazard
risk possibility: 1
risk influence degree: 4
circulation risk
goods
one of the basic functions of currency is to continuously use it as a means of purchase in the process of commodity circulation to realize the price of goods. So far, only a few businesses accept virtual currency as a means of payment for circulation. Or
in other words, most of the participants in the current virtual currency investment are for the purpose of earning the price difference, while only a small part of them are for the purpose of early storage as the future currency
coping strategies: the existing participants of virtual currency should actively recommend this category to the government and the public, and increase the number of businesses willing to accept virtual currency as a means of payment in the market
risk possibility: 4
risk impact degree: 3
legal subject risk
on December 5, 2013, the people's Bank of China, together with the Ministry of instry and information technology, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, issued the notice on prevention of bitcoin risk, claiming that bitcoin should be a specific virtual business proct in nature, It does not have the same legal status as currency and cannot and should not be used as currency in the market. According to Circular No. 21 of 2014 issued by the IRS, bitcoin and other virtual currencies will be regarded as property rather than a currency. In a word, there is still a long way to go to establish the legal subject status of virtual currency
coping strategies: the existing participants of virtual currency should actively influence the government and regulatory authorities to establish the legal subject status of virtual currency as soon as possible
risk possibility: 5
risk impact degree: 3
There are two reasons for the prohibition of virtual currency trading by the state:
1. The price fluctuates violently and the consumer protection is lacking:
virtual currency is the proct of network, and the digital information flowing in the network is beyond everyone's control. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code
bitcoin and other so-called "virtual currencies" lack a clear value basis, the market is full of speculative atmosphere, the price fluctuates violently, and investors blindly follow suit, which is easy to cause capital losses
2. Evade supervision and become the "accomplice" of criminal activities:
bitcoin is popular as a payment tool in the so-called "dark web" world“ The "dark net" is full of all kinds of serious criminal activities. One of the original intentions of the invention of bitcoin is to evade regulation. It has the characteristics of anonymity and convenient cross-border flow, and has become the preferred tool of "underground economy"
the existence of bitcoin and exchanges and other instrial chains has constructed a illegal financial market for asset transfer and financing in addition to legal currency, increased the difficulty of regulatory authorities in managing financial security and stability, and promoted regulatory arbitrage and financial crimes. The risks and social security risks it brings to the financial market are far higher than its innovative value
extended information
virtual currency transactions are not protected by law:
according to the notice on preventing bitcoin risks issued by the people's Bank of China and other departments on December 3, 2013 and the announcement on preventing financing risks of token issuance issued by seven ministries and commissions including the people's Bank of China on September 4, 2017, virtual currency is not issued by monetary authorities, It is not a real currency because it does not have the monetary attributes of legal compensation and compulsion
in terms of nature, virtual currency should be a specific virtual commodity, which does not have the same legal status as currency, and can not and should not be used as currency in the market. Although citizens' investment and trading in other virtual currencies are personal freedom, they can not be protected by law