Recap LGCY Network AMA — Biki x Justin Waiau
Justin Waiau hosted Ethan, CEO of Biki for this AMA.
Q: Can you introduce BiKi?
BiKi Group was established in 2018 and is headquartered in Singapore. BiKi.com is a global blockchain technology and service provider with over 3 million registered users, and the business covers digital asset trading, derivatives, blockchain technology R&D, blockchain investment, blockchain project incubation, etc. At present, we have set up operation centers in 7 countries including Singapore, China, South Korea, Vietnam, Japan, Russia, and Turkey. We are committed to providing safe, stable, and reliable service experience for global users.
BiKi is a well-established Crypto exchange with 2+ years since establishment, we are often featured in top crypto news around the world. We have also organized events and meetups around the world with top leading crypto companies like FBG Capital, Node Capital, NGC and many more.
Q: I noticed that BiKi Grid Trading is quite popular, I was wondering how LGCY.Network community members can benefit from this?
The recent success of LGCY is the early fruits of the deep collaboration between LGCY network and BiKi, as LGCY wants its community to benefit even more from the listing on BiKi, we decided to conduct this AMA to help all members of LGCY community to earn even more $.
Q: I think this is a rather new and useful feature that is really helpful for our members and for the liquidity of LGCY.network, can you run us through the background of BiKi Grid Trading, what are the benefits, how it work and how to start BiKi Grid Trading?
That is a good question Justin, many of our users asked these questions when we launched BiKi Grid Trading too. We will be covering about BiKi Grid trading, a tool to make automated trades and profits. Here’s a content of summary that will be covered throughout this AMA.
- Buy/Sell Crypto To Make Profits
- Buy/Sell Crypto Strategy
- What is BiKi Grid Trading?
- Benefits of BiKi Grid Trading
- How does it work?
- How To Start BiKi Grid Trading?
- Step by Step LIVE class to do BiKi Grid Trading and win prizes
Q: Users are already trading LGCY and USDL on BiKi, what is the difference between trading and Grid Trading?
BiKi Grid Trading is specially designed for project crypto community to make profits consistently. We really hope everyone can take advantage of this.
Many crypto users look for valuable cryptocurrencies like $BTC and $LGCY to buy, hoping to make profits. For example, buying $BTC at $10,000 and selling it at $18,000. Wow that’s a $8000 profit!
But many users are asking the same questions, how do you make sure you “buy at lowest point” and “sell at highest point”? the clear answer is, no one can do that.
So the next question is, how do you know when to buy and when to sell? Again, the answer is no one can give the perfect correct answer, because the truth is, the market is very liquid and it’s a global marketing working 24/7, no one possesses that much information to know when to buy and sell, they can only predict with the limited information one has.
So how about ALL-IN and then HODL? a lot of people do that. My answer is, yes a lot of people do that and a lot of them got burnt from this strategy, hence its not a smart way to trade in crypto, it is clearly a high risk gambling method.
I like it. So basically it takes the power out of the market makers and gives it to the community. That’s huge.
That’s what LGCY is all about as well.
Q: I think that is truly a problem that many crypto users have voiced out about, so what is a better crypto strategy for trading?
Then what is a safer option and still making profits? Introducing Dollar Cost Averaging Strategy, a very popular strategy deployed by top investment brokers around the world including firms like JP Morgan and Brokers from Wall Street.
It is a strategy where you place a fixed amount of money every month over a long period of time, by doing so, you can smoothen your trading risks, This means you will buy more tokens when the price comes down and fewer tokens when the price is higher. If you have used the Dollar Cost Averaging Strategy on Bitcoin, you have a ROI of 116% since 01/01/2019!
Q: Why is this the smarter strategy?
Instead of wiping out your capital from 1 high risk trade, and then checking your mobile app every hour to see the price movement, dollar cost averaging is low-risk and requires little monitoring.
- Takes away impulsive buying and guessing of price prediction
- Proven strategy that ensures you ride out the volatility of the market over time
- Extremely easy to execute
Q: What is BiKi Grid Trading?
BiKi Exchange has recently introduced a new feature known as “Grid”, currently available in APP and website. Users can now execute Dollar Cost Averaging strategy with just 1 simple click. How BiKi Grid Trading works is it employs the capabilities of an Algorithmic Bot (commonly referred to as Algos), to execute Dollar Cost Averaging strategy automaticall, all within the tap of a few buttons, all in the comfort of your own mobile phones.
Q: What are the Benefits of BiKi Grid Trading?
o It gives you a “Passive Income” with stable profits
o All done with minimal monitoring
o Hedge risk of price volatility over time
o Simple 1 click to start
o Easy to start and stop
Q: How does it work?
In this example, we will use $LGCY and BiKi App to explain how it works
1. Place capital, you must have USDT and LGCY in your BiKi account first, you can easily purchase it on
https://www.biki.com/en_US/trade/BTC_USDT and
https://www.biki.com/en_US/trade/LGCY_USDT
this is for illustration purposes, to show that you have your capital ready to start BiKi Grid Trading with Dollar cost averaging strategy
2. The BiKi Grid Trading will then use the capital you placed to place pending orders in the order book in different prices, so when the market hits your quoted prices, the transaction will automatically be executed and you would make a profit from the transaction.
Later we will do it together in the Step by Step LIVE class, for the moment just watch and see how it works. I will now show you via the app.
This is the BiKi Grid Trading page for LGCY/USDT (I took this image a while ago), we can see that it’s performing well.
I’m placing 100 USDT and equivalent value of 100 USDT in LGCY and I clicked confirm.
Immediately I can see the orders that the Grid Trading A.i bot placed for me at a price gap of 1%.
So once the LGCY/USDT prices hit the prices that the A.i bot helped me place, the orders will be executed.
After a while, the Grid Trading A.i bot would have executed a few orders for you and you have made a few profits from the orders. This is an example of the completed orders of LGCY/USDT grid trading that I placed.
I clicked on one of the completed orders to see how it was transacted, as you can see, the Grid Trading A.i bot purchased 4498.28 LGCY at $0.000404 USDT and sold 4498.28 LGCY at $0.000408, making me a profit of $0.0156!
So as you can see, its quite simple to make consistent profits using Dollar Cost Averaging strategy on BiKi Grid Trading.
Q I think what’s covered above is really helpful, now let’s get our community members to do it together with Ethan on Step by Step LIVE class basis and everyone can get to learn as we do it. Let’s start the class! Pay attention, because at the end of this class, the first 20 participants who execute the BiKi Grid Trading together, gets to win $5 USDL each! At the end of the class, Ethan will share how to win these prizes.
Okay, has everyone registered a BiKi account and downloaded BiKi App? I hope you do, because you can win rewards from our earlier campaign with LGCY, the last we checked, there were 86 users who submitted their screenshots! Well done! if you have not done so, please do so, last few slots left!
About LGCY Network
LGCY Network is a DPoS, open-source blockchain protocol with industry-leading transaction speed and flexible utility. Running on the Libertas Protocol, LGCY Network aims to be the most decentralized dApp blockchain in the world.
LGCY Network began as a fork of the TRON blockchain. The essential base and functions of TRON will remain for LGCY with the major differences lying in the system of governance and the focus on community.
LGCY Network will bring true decentralization with DPOS by implementing the Libertas Protocol to the Super Representatives (SRs) system of governance. By splitting up the 27 SRs into three branches, limiting the power of each, and introducing terms to the governance system, no single large token holder will be able to gain an unbalanced amount of power. Striving for true decentralization.
