A Conversation With BIKA Founder Huge Opportunities In Crypto Market

(MENAFN- GetNews)

Recently, the founder of BIKA had a In-depth One-on-One Conversation on the topic of Increased volatility in the crypto market provides greater opportunities to profit for both long- and short-term traders.

“Financial derivatives of cryptocurrencies have developed into being a very major component today as Blockchain is steadily gaining acceptance. Because of the huge market and high volatility in the Cryptocurrency space, we and other investors have a tonne of chances.”

Several cryptocurrencies increased in value during 2020 and 2021, with the price of bitcoin as a benchmark reaching up to $65,000 per coin. This brought attention to the Blockchain market. In other words, if you own just 15 bitcoins, you'll be worth $1,000,000 instantly. In an effort to change the world, this has led to the creation of numerous projects and enterprises devoted to advancing consensus development in blockchain technology and crypto digital assets.

Since its launch, BIKA has attracted 2 million registrations, making it one of the significant exchanges.

Augustin, the founder and CEO of BIKA, as well as the instigator of Silicon Valley Creation Capital and the BIKA New York World Blockchain, is most happy of having chosen the proper course for growth rather than launching an exchange with a sizable user base. A large number of business owners and investors shamefully left the market in 2022, a year marked by extreme market volatility. The Blockchain industry witnessed the failure of countless startups and investors, including numerous well-known projects and trading platforms that had been in operation for years. With its futures trading, BIKA was able to expand its company based on 2 million users. Augustin had the vision of“safety first, user first, and service with heart and soul, making every effort to set a new benchmark for futures exchange” when he first founded BIKA. He decided to concentrate more of his efforts on perfecting the product and providing top-notch service. With his elite team on the front lines, Augustin is still working nonstop.

Augustin's strong understanding of market trends has helped BIKA expand swiftly. Volatility is not always a bad thing, as it can occasionally present entry points from which investors might take advantage, as Augustin always stated.

Q1: The conclusion of the ETH 1.0 period and the transition from POW to POS were marked by the completion of the ETH 2.0 merge on September 15, 2022. The mining equipment used by the previous miners will soon be turned into scrap, and the new miners are excited about Ether's future. What are your thoughts on ETH 2.0?

A: Actually, there are a variety of perspectives on this matter and how the ETH 2.0 merger might impact Ethereum's development. To start, it's important to understand Ethereum's existing problem and pain point. Congestion and exorbitant costs were problems in the past. Since Ethereum's ultimate purpose is to develop into a supercomputer, we must make sure that every application operates effectively. If the primary Ethernet network cannot be widely used because of unreasonably high costs and traffic, Ethernet progress will be limited. Consequently, without a considerable rise in the number of applications, the two problems of Ethereum's congestion and fees cannot be overcome. Once these issues are resolved, more DAPPs will be adopted and used, which will cause an increase in both their number and their user base.

The ETH 2.0 merge fixes these problems by altering the new Blockchain's fundamental components to a proof-of-interest, fractional, and new beacon chain named“beacon chain.” This indicates that we will begin to abandon the massive, power-guzzling mining rigs in favor of the rapid, power-saving, and transaction-verification-free on-chain staking mining. The charge for each transaction is decreased in ETH 2.0, which affects its cost structure at POS.

With the help of the Ethereum update, the greater Blockchain eco-system will benefit from having the underlying public chain technology as well as new application scenarios and consensus support.

Q2: Even though there will be bounces during that time, popular cryptocurrencies like BTC and ETH are falling, and many pessimists see this as the beginning of a bear market. As the market has developed, Bitcoin has continued to fall below everyone's expectations this year, from $40,000 to $30,000 to around $20,000 now. How would you rate that?

A: The price decline does not indicate that the digital currency is entering a winter; rather, it is more of an economy self-adjustment. Like an adolescent suffering from a cold, the digital currency is developing but needs to be repeatedly worn out in order to create antibodies and become stronger. It is important to recognise that the abrupt changes in the market are also helping Blockchain and digital assets get greater attention. People will also sense more values and business logic in this sector if they are no longer restricted by price.

Blockchain and cryptocurrency sectors are too inflated and airy for rule-breakers and those lacking the skills required to survive in the cutthroat market. The financial crisis may be helping the sector advance by eliminating more pointless, non-consensus ventures. In such a clean sector, the outbreak is expected.

Q3: Another generally held notion is that the Federal Reserve will raise interest rates by more than 75 basis points at the end of September, which will lead to the dollar strengthening, a decrease in the stock market, a decline in the value of gold and collectibles, a dramatic decline in the value of cryptocurrencies, and a major exodus of investors from the market. What impact do you think the policy will have on the assets held in crypto?

A: Policy formation is a big concern for us as business owners and professionals. Over the past two years, COVID-19 has affected the economic systems of the majority of countries, and the United States has also experienced inflation for a variety of reasons. In order to fight inflation, the Federal Reserve may need to dramatically increase interest rates. The Fed's policy has an impact on every aspect of the financial world since the U.S. dollar is the dominant currency. Additionally, as a result of this effect, crypto assets are starting to play a bigger role in the world of financial investments, just like the stock market, gold, etc. We have a team of experts working to quickly respond to situations and make judgments by researching the effects of significant global policies.

Q4: Investors in cryptocurrency assets are extremely pessimistic during a market downturn since their assets are being harmed and most of them are fluctuating in value to the extreme, which puts investors' psychological well-being at risk. According to the data, the average net return for bitcoin owners this year is -60%. In your opinion, should investors do in the current market to lessen their losses and perhaps even increase their gains?

A: Futures trading as financial derivatives may be the best choice for investors when the market is weak and overly volatile.

Futures trading allows investors to bet against the future ups and downs of digital currencies without having to possess any physical coins, maximizing investment profits through futures leverage. As more investors cope with market instability and the rising costs of investing in BTC or ETH, for example, everyone starts to feel scared. The current market is in an oscillation. The input of spot can only be positive, but given that the market for trading digital assets is becoming increasingly established, it must be spot plus futures. Various macroeconomic and policy factors will have an increasing impact on the news. As a result, the market for investing in digital assets will gradually mirror market and economic realities. It's important to use both lengthy and concise sentences. Instead, investors may opt for a short-term or long-term investing strategy depending on the overall market environment and news to determine the current market trend and reach at a reasonable analysis and investment. Shorting cannot be stated to minimize losses.

Q5: Why did you decide to start at the futures exchange? The crypto digital sector offers a wide range of other business prospects, including those in the media, market analysis, quantitative trading, decentralized finance, decentralized storage, spot exchanges, and more.

A: As someone who has worked in this field for more than 8 years, I can speak from firsthand experience. I've also been involved in the investment and trade side of the business because it's impossible to separate the growth of an industry from the construction of a solid infrastructure. With the help of this facility, you may also understand the track in your question.

Due to the rapidly expanding size of the digital currency market, which is enticing more and more people to participate in the market, there is an increasing need for investment management of digital assets.

This market hasn't yet formed an unmistakable top, but futures trading is already being offered by certain heads of spot trading, and it has a huge amount of room to grow. Despite the availability of exchanges that provide Blockchain asset circulation for the whole market and the imperfect general dynamics of the futures market's development at the time, a professional derivatives exchange is still lacking in the market.

Trading volume has become a more popular way to invest in digital currencies since the market collapse. A specialized derivatives exchange is therefore required in the market.

In reality, I said that many futures exchanges currently place a greater emphasis on marketing than on creating professional and high-quality products, which makes them uneven and prone to a number of problems. My goal is to establish a baseline for the derivatives track.

Q6: At the moment, many exchanges offer contract trading features. Intense competition exists on the futures track; does BIKA possess any advantages?

A: To begin, BIKA Exchange is a global digital asset trading platform that offers a safer and faster digital asset derivatives trading service to global users. Even though the futures track is highly competitive, we have our own complete product and service systems. We are confident that we will stand out in the futures trading field by providing better client service, better goods, safer asset protection, and a more experienced crew.

For example, the BIKA customer service system is extremely responsive, bilingual, and available around the clock to assist clients with any problems they may have. We have created BIKA Labs to provide daily quotes, macroeconomic analysis, coverage of significant events, current affairs, etc. to our users. BIKA also provides distinctive features like Super Futures, One Click Copy Trading, and other transactions to enhance the user experience overall. The most important factor is that we hold ourselves accountable for protecting our users' assets and transactions through security, standards, and compliance. I'm pleased to report that the team has continued to follow the plan from the time of the foundation until the present. We also continuously improve our risk control and service SOPs. BIKA is certain that it can do better despite the competition.

Q7: Now that the majority of 2022 is through, many businesses are starting to prepare for the rest of the year and the one after that. What objectives does BIKA have going forward? What advice do you offer for other cryptocurrency investors and platform users in light of the market's recent development and general decline?

A: Enhancing services and modernizing products are the two key focuses of our planning. First, we will continue to build on our commitment to providing 7×24 customer service by adding information services, market analysis services, multi-channel customer care, VIP professional service, and more leading added-value offerings. Second, we'll introduce more features with the goal of improving the current offerings. In order to establish a comprehensive service and multi-functional one-stop crypto asset trading platform, this includes launching the PC terminal, more spot quality projects, improving OTC function, launching contract trading section, financial management, decentralized mining, etc. We appreciate all of the support from our users. All users are our product experience officers, our power, and our sharers as BIKA expands, assisting in the improvement of our platform.



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