BeInCrypto interviewed Libertex Group’s Chief Marketing Officer Marios Chailis in regards to the crypto trade, his opinion on varied market influences, and the function Libertex performs in mass adoption.
BeInCrypto (BIC): Following a tough begin to 2022 for the crypto market and this kicked up numerous worry and panic among the many international crypto neighborhood. What recommendation or phrases of knowledge would you give future entrants to the market who expertise a crash/ correction for the primary time?
Marios Chailis (MC): First issues first, I’d remind anyone who’s new to buying and selling or investing that you just can’t anticipate to time the market with any type of accuracy. It can, in fact, be worrying to see your preliminary funding loses 10, 20 and even 50% of its worth in a matter of weeks or months, however that is why dollar-cost averaging is so vital.
Say you will have $12,000 to speculate annually. Don’t attempt to decide the most effective day to speculate all of it. Instead, make investments $1,000 every month.
That means, not solely are you protected from big drawdowns however would possibly be capable of profit from the decreased costs that corrections provide.
It’s vital to by no means hand over. Yes, what goes up should come down, however what goes down should additionally come again up once more (normally)!
As lengthy as you study from your errors and undertake smarter danger mitigation methods going ahead, the crypto market may nonetheless show worthwhile for you.
BIC: The previous yr noticed big development and main developments within the crypto trade. Innovations like NFTs are quick changing into a serious speaking level and meme tokens are taking the world by storm. Do you assume that hype performs an vital function within the crypto market?
MC: NFTs and meme tokens have definitely garnered numerous media consideration of late and I do consider there’s some extent of utility in each devices though I believe it’s vital to separate these two phenomena.
Of course, by their very nature, there are numerous meme tokens that may in the end disappear. That stated, it’s laborious to disregard a number of the beneficial properties we have now seen within the likes of Dogecoin and Shiba Inu this previous yr.
NFTs are an entire different animal and their many functions within the metaverse and past make them an especially fascinating asset class certainly.
To reply your query immediately, nevertheless, sure, I do consider hype performs an vital function within the crypto market.
Popular sentiment is a key driver of most markets, however cryptocurrencies are particularly susceptible given their low degree of regulation and institutional involvement.
Digital property are dominated by retail gamers who sometimes lack the identical technical evaluation instruments because the whales of the inventory, foreign exchange, or commodities markets.
Crypto’s relative youth additionally means there’s much less longitudinal information to plug into any technical fashions that could be relevant. The finish result’s a market that’s way more inclined to hype and groupthink than every other.
But that is now altering, and, as adoption and regulation enhance, digital currencies will begin to behave far more like different commodities and currencies.
BIC: The crypto market is way extra accessible right this moment than it was in its infancy. For instance, folks can spend money on crypto by shopping for immediately with debit or bank cards on sure exchanges. Some folks consider that there’s more cash to be made in buying and selling however that it’s fairly an intimidating level of entry into the crypto market. In what methods does Libertex facilitate beginner merchants in increasing their data and abilities?
MC: The accessibility of the cryptocurrency market is growing with every passing day.
Of course, buying and selling completed proper can allow a lot bigger potential earnings in a a lot shorter time frame, however the dangers are additionally many occasions increased, and so persons are proper to not take this evenly.
There are ways similar to using pending orders, place hedging, and complicated buying and selling methods that might reduce losses whereas additionally probably maximizing potential beneficial properties.
Here at Libertex, we provide free coaching through our Website to assist new purchasers educate themselves on all these instruments, offering detailed video tutorials and written guides that may give newbies a leg up on their competitors.
We additionally give them entry to a free demo account to place these new strategies into observe earlier than risking their very own capital.
BIC: Mass adoption of cryptocurrency is undoubtedly the general objective for crypto buyers. Traders are given the chance to commerce free from commissions and different charges via Libertex. Can you elaborate extra on these choices and the affect you assume they may have in facilitating mass adoption?
MC: Sure, it might be my pleasure. As you say, mass adoption is unquestionably the hope of most crypto
buyers for the reason that extra folks there are utilizing/investing in these currencies, the larger their
the precise utility is, and the extra probably they’re to extend in worth.
The foremost obstacles for extra conventional retail buyers and the establishments that cater to them have been cryptocurrencies’ inaccessibility and big volatility. But these two elements are, in reality, inextricably linked.
As lengthy because the digital property market is dominated by crypto aficionados and meme buyers — each of whom are historically youthful, much less skilled, and thus extra risk-tolerant — the potential for big worth swings stays.
However, now that making trades with digital currencies is out there on trusted, user-friendly platforms like Libertex and freed from fee and transaction charges as well, it means older, extra conservative merchants are in a position to enter the area.
Previously, devoted crypto exchanges had a bonus in that a few of them have been commission-free, however what has all the time been related with these exchanges is what some take into account a problem or danger and that’s the pockets (which may be sizzling or chilly).
But now that Libertex, a non-dedicated crypto trade however a CFD dealer as everybody is aware of, has leveled the taking part in subject, there’s no cause for folks to show themselves to such hassles and dangers.
As the retail market grows extra numerous, this may drive regulatory motion, which is able to then appeal to much more institutional gamers.
Then, earlier than we all know it, crypto shall be simply one other asset class like shares, commodities, or foreign exchange.
BIC: Libertex is well-known for its trustworthiness and its numerous providing of buying and selling devices. What different differentiating elements draw merchants to Libertex over competing buying and selling platforms?
MC: As you point out, we’re, certainly, often called a dealer you’ll be able to belief, and it is a big draw for a lot of, significantly within the context of CFDs on cryptocurrencies.
But our aggressive benefit goes far past mere honesty and selection of underlying property. One of the important thing positives we continuously hear from purchasers is the standard of our platform.
It’s no shock, then, that it has gained a number of awards (most lately Best Trading Platform 2021 from Forex Report).
Combined with our in depth providing of underlying property, this allows our purchasers to maintain their CFD account with their Invest account in a single place that’s accessible from any gadget.
Our different value-added companies, such because the Trading Academy, additionally set us aside from different main CFD platforms that seem much less all in favour of maximizing their purchasers’ efficiency and extra all in favour of getting their fee.
This brings us to the foremost benefit that Libertex has over its opponents: we provide a number of the lowest commissions and charges within the enterprise. For occasion, CFDs on crypto at the moment are utterly commission-free and so are shares bought with a Libertex Invest account.
BIC: While one can by no means precisely predict what the way forward for crypto will seem like, what does Libertex have in retailer for 2022? Are there any new and thrilling developments that may be disclosed?
MC: We had such an enormous yr in 2021, particularly with respect to crypto buying and selling. We launched a number of new crypto CFDs — together with the yr’s highflyers, Axie Infinity, Dogecoin, and Shiba Inu — exhibiting that we’re all the time prepared to maneuver shortly to offer our merchants with entry to the underlying property they need.
As I already talked about, we additionally gave a transparent signal of intent with the introduction of commission-free crypto buying and selling to make sure our retail Libertex purchasers don’t pay fee charges.
Heading into 2022, though I can’t reveal a lot, I’d say it’s best to anticipate to see related choices from us: extra CFDs on digital underlying property, higher phrases and situations for crypto merchants, and a common concentrate on buying and selling on cryptocurrencies and different digital property.
Something else I can point out with out entering into an excessive amount of element is the fast development of the DeFi and NFT marketplaces, which hasn’t gone unnoticed by us, and we shall be directing numerous thought in the direction of these areas over the following 12 months.
70.8% of retail investor accounts lose cash. Zero fee charges on crypto CFDs can be found for retail purchasers on the Libertex buying and selling platform. Cryptocurrency devices will not be obtainable to retail purchasers within the UK.
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