In this edition of “The traders perspective” we interviewed CryptoAddict (@GlobalLife365), an experienced crypto derivatives trader that has seen both the crazy bull runs and the boring bear markets. He shared his opinion in regards to what he thinks crypto traders require from exchanges and also his feedback on the BBOD trading platform.
BBOD: Firstly, thank you for allowing us to interview you!
CryptoAddict: My pleasure, I have done evaluation for a couple of other exchanges and enjoy doing this since I am very passionate about trading Bitcoin derivatives.
BBOD: When did you get into crypto and what is your initial experience?
CryptoAddict: I discovered Bitcoin in 2014. I was fascinated from the start and started learning and trying to understand it on a deep technical level. There are so many things BTC is going to change in the coming years. I feel the same way I did when I started using Internet in the university in the early 1990s.
BBOD: What made you stay?
CryptoAddict: I am a true believer in Bitcoin as well as a maximalist. Most people do not understand the advantage of BTC against all other crypto currencies as well as the difference between blockchain itself and the combination of the BTC network and the blockchain. The other aspect that is very important for me personally is the ability to trade Bitcoin derivatives. When I was trading stocks and options back in the day I was very frustrated by all the restrictions and the inability to get access to the tools that Wall St had. Bitcoin changed everything and now we can trade futures, sell options for premium etc. This allows me to trade in a more professional way.
BBOD: Which cryptocurrency exchanges do you use?
CryptoAddict: Deribit, BitMEX primarily. Some spot exchanges like Bitstamp rarely.
BBOD: Which is your favorite exchange to date and why?
CryptoAddict: Deribit! They have portfolio margin and Bitcoin options. Without these two it’s impossible to trade properly. You can do real hedging with futures and Swap without the need to trade spot BTC at all. Selling options premium also allows for a type of hedging your positions.
BBOD: Have you had the chance to try BBOD trading platform?
CryptoAddict: Reply: Not yet, but will try it for sure.
BBOD: We’re working hard on every aspect trying to improve it, is there any feedback you’d like to share with us?
CryptoAddict: I know the UI is fluid and the user can change it, but I think the Order Execution panel should be in a more central place by default. The different schemes are not very helpful since the colours are fixed. Usually traders like a dark or a light theme. It will be more useful if the main colours can be picked by the user as the current one that come with the preset themes are not perfect.
BBOD: Thanks! What do you think people are looking for in these platforms when they want to trade crypto derivatives?
CryptoAddict: Margin, Complex order types, Liquidity.
BBOD: Are you a fan of high leverage or prefer a more conservative approach?
CryptoAddict: High leverage can be useful in some cases, but in general I do not use leverage. Most of my trades are on cross and rarely above 5x.
BBOD: What are some other products or features you would like to see platforms implement?
CryptoAddict: Portfolio Margin, Reduce only type of orders.
BBOD: Well, we appreciate you taking your time to interview you and share your feedback with us. We’ll do everything we can to improve our platform and hopefully see you on board!
Feel free to share your comments or questions in our Community on Telegram!
BBOD : 🌏One World, One Exchange 📊
BBOD is a world-leading non-custodial cryptocurrency derivatives trading platform for retail and institutional clients, offering a secure and transparent marketplace to trade Bitcoin and Altcoins futures contracts with a stablecoin collateral. The non-custodial nature of the platform means that BBOD does not hold either the clients’ digital assets or their private keys. Instead, a client has their own contract account on the Ethereum blockchain.