Tokenize Xchange
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Tokenize Xchange

The Newsletter by Tokenize Xchange (Vol.129| March 2021)

Tokenback for Membership Upgrade

** The tokenback processing time: from April 20, 2021 to April 30, 2021.

A great chance to upgrade your membership with us from 19 March 2021–19 April 2021.

Those who upgrade to Premium and Platinum will get 50% TKX back.

  • For Premium members: A 80TKX tokenback for a 160 TKX purchase.
  • For Platinum members: A 400TKX tokenback for a 800 TKX purchase and 800 TKX stake.

WHY UPGRADE YOUR MEMBERSHIP?

Upgrading your account to Premium or Platinum, you get the chance to trade with discounted trading fees:
Fiat-Crypto: from 0.8 to 0.1–0.5%
Crypto-Crypto: from 0.25 to 0.1–0.2%
Crypto Withdrawal: from 0.02 to 0.01%

Click here to learn more

House Warming TKX Giveaway

Exclusive! Grab the chance to earn free TKX just by signing up on our website or becoming our loyal user by accumulating traded value.

> FOR NEW USERS: 1 TKX

New users whose accounts are successfully verified from 8 Mar 2021, 0:00 to 9 Apr 2021, 0:00 (SGT) will automatically receive 1 TKX to your wallet.

> FOR LOYAL USERS: 10 TKX

The users who have traded the amount equivalent to 5,000 SGD on Tokenize from 1 Jan 2021, 0:00 to 9 Apr 2021, 0:00 (SGT) will automatically receive 10 TKX to your wallet.

Don’t miss this awesome offer and start trading with us now!

*** The giveaway processing time: from 20 April 2021 to 30 April 2021.

How to Swap XSGD on Tokenize Xchange

One thing to note, you cannot buy XSGD on Tokenize Xchange, but swap for XSGD. There are 2 simple ways to get XSGD to your wallet:

  • Deposit XSGD
  • Use XSGD swap with SGD

I — Deposit XSGD on Tokenize Xchange

Step 1: Go to our website. Select Wallets on your dashboard.

Step 2: Click on Deposit XSGD. You will see these options :

Step 3: Click on “ Deposit by transferring”, the dashboard will show the address to deposit XSGD

Copy and paste the address or you can scan it.

II — Use XSGD swap with SGD

Step 1: Go to our website. Select Wallets on your dashboard.

Step 2: Deposit SGD

If you do not have SGD in Wallets, please deposit it first.

Please refer here for detailed instructions on how to deposit SGD on Tokenize Xchange.

Step 3: Click on “ Withdraw SGD “, there will have 2 options.

Choose option “ Swap to XSGD wallet “

Step 4: Click on “ Start to withdraw”

Step 5: Key amount that you want to swap then click on “ making swap “ .

Step 6: After making the swap, you will see a green notification at the top of the page indicating that your swap has been done successfully.

Note :

  • XSGD deposit is 0 and the withdrawal fee is 30 XSGD (Due to High Ethereum Gas Fee).
  • Currently, the discounted conversion fee from SGD to XSGD is 0 SGD but will soon return to the original fee of 2 SGD at a convenient time.

What Are NFTs and How Do They Work?

Non-fungible tokens (NFT) are digital assets that represent a wide range of unique tangible and intangible items, from collectible sports cards to virtual real estate and even digital sneakers.

One of the main benefits of owning a digital collectible versus a physical collectible like a Pokemon card or rare minted coin is that each NFT contains distinguishing information that makes it both distinct from any other NFT and easily verifiable. This makes the creation and circulation of fake collectibles pointless because each item can be traced back to the original issuer.

Unlike regular cryptocurrencies, NFTs cannot be directly exchanged with one another. This is because no two NFTs are identical — even those that exist on the same platform, game, or in the same collection. Think of them as festival tickets. Each ticket contains specific information including the purchaser’s name, the date of the event, and the venue. This data makes it impossible for festival tickets to be traded with one another.

The vast majority of NFT tokens were built using one of two Ethereum token standards (ERC-721 and ERC-1155) — blueprints created by Ethereum that enable software developers to easily deploy NFTs and ensure they’re compatible with the broader ecosystem, including exchanges and wallet services like MetaMask and MyEtherWallet. Eos, Neo, and Tron have also released their own NFT token standards to encourage developers to build and host NFTs on their blockchain networks.

Other key characteristics of NFTs include:

  • Non-interoperable: A CryptoPunk cannot be used as a character on the CryptoKitties game or vice versa. This goes for collectibles such as trading cards, too; a Blockchain Heroes card cannot be played in the Gods Unchained trading-card game.
  • Indivisible: NFTs cannot be divided into smaller denominations like bitcoin satoshis. They exist exclusively as a whole item.
  • Indestructible: Because all NFT data is stored on the blockchain via smart contracts, each token cannot be destroyed, removed, or replicated. Ownership of these tokens is also immutable, which means gamers and collectors actually possess their NFTs, not the companies that create them. This contrasts with buying things like music from the iTunes store where users don’t actually own what they’re buying, they just purchase the license to listen to the music.
  • Verifiable: Another benefit of storing historical ownership data on the blockchain is that items such as digital artwork can be traced back to the original creator, which allows pieces to be authenticated without the need for third-party verification.

Why do they have value?

Like all assets, supply and demand are the key market drivers for price. Due to the scarce nature of NFTs and the high demand for them from gamers, collectors and investors, people are often prepared to pay a lot of money for them.

Some NFTs also have the potential to make their owners a lot of money. For instance, one gamer on the Decentraland virtual land platform decided to purchase 64 lots and combine them into a single estate. Dubbed “The Secrets of Satoshis Tea Garden,” it sold for $80,000 purely because of its desirable location and road access. Another investor parted with $222,000 to purchase a segment of a digital Monaco racing track in the F1 Delta Time game. The NFT representing the piece of the digital track allows the owner to receive 5% dividends from all races that take place on it, including entry ticket fees.

Bitcoin’s Risk-Reward Ratio Suggests Bull Run Has Plenty of Scope to Continue

Bitcoin’s “reserve risk” metric indicates the cryptocurrency is nowhere close to a major price top.

Despite seeing its biggest drop for a month in the last 24 hours, bitcoin (BTC, -0.56%)‘s bull run is likely to continue.

That’s the suggestion of blockchain data showing the cryptocurrency is still an attractive bet for existing holders and prospective buyers.

Bitcoin’s “reserve risk” metric measures the risk-reward ratio of investment based on long-term holders’ confidence relative to the price at any given point of time, and is currently seen at 0.008. That’s well short of highs above 0.02 seen during the bull market frenzies of December 2017, December 2013, and June 2011, according to blockchain analytics firm Glassnode.

The low current level suggests confidence is still high relative to the cryptocurrency’s price. Essentially, the risk/reward is skewed attractively even after the cryptocurrency’s six-fold rally in the past 5.5 months.

The bullish signal is consistent with the positive picture painted by other on-chain indicators, such as the market value relative to realized value ratio.

Bitcoin’s latest bull market commenced a year ago after the reserve risk fell into the buy zone (green area) below 0.002. Since then, the cryptocurrency has charted an 11-fold rally.

The risk-reward ratio will be deemed unattractive once the indicator hits the red zone above 0.02.

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