I made $1 million on Cashcat. Here’s how to play the next leg

* This article was originally published here

Cryptocurrency Trading Explained: Spot, Futures, Leverage, Fees and Risk

Crypto trading means buying and selling cryptocurrencies in a spot market, or trading contracts whose value is linked to a cryptocurrency’s price. In spot trading, the underlying asset changes hands. In futures trading, the trader takes contractual price exposure and may never receive the cryptocurrency itself.

That distinction affects nearly every part of a trade: whether a person needs to manage custody, whether they can take a short position, how much capital is required, and how quickly losses can develop. Both routes also carry the broader risks of volatile markets, thin liquidity and platform failures.

Spot trading: buying the cryptocurrency itself

A spot transaction is a cash-market purchase or sale of the underlying cryptocurrency. Someone who buys bitcoin on spot, for example, has bought bitcoin rather than a derivative contract based on its price. The Commodity Futures Trading Commission describes virtual-currency spot trading as buying or selling the underlying asset in the cash market.

After a spot purchase, the asset may remain with the trading platform or be transferred to an external wallet, subject to that platform’s custody and settlement arrangements. Those are materially different practical outcomes. Keeping assets on a platform leaves the platform responsible for the custody process; moving them to a wallet introduces responsibility for the wallet and its access credentials.

Spot trading is usually the more direct route for a buyer seeking to own and potentially transfer an asset, without requiring a futures margin account or creating a contract expiry date. The trade-off is that direct ownership does not eliminate market risk; if the cryptocurrency’s price falls, the value of the holding falls as well.

Nor does spot ownership guarantee an easy exit. FINRA cautions that crypto assets can be subject to extreme and unpredictable volatility and limited liquidity, which can make it difficult to sell at an expected price. Fraud, hacking, manipulation, and platform or custody failures are additional risks cited by the regulator.

Futures: price exposure without necessarily receiving crypto

A futures contract is a standardized agreement to buy or sell a specified quantity of an underlying asset at a specified price and date. The contract’s terms, rather than an immediate transfer of coins, define the position.

Crypto futures can be cash-settled. In that arrangement, settlement is based on the contract’s terms and price outcome rather than delivery of cryptocurrency. A trader can therefore gain exposure to a price move without needing to receive, store or transfer bitcoin or another token.

Conventional futures have a specified date. Traders who still want exposure as that date approaches may close the position, or move to another contract where their venue and product rules allow. The key point is that dated futures are not simply a spot purchase with a different fee schedule: they are contracts with their own settlement and margin framework.

Perpetual futures, often called perpetuals or perps, take a different approach. They do not have a traditional expiration date. Instead, they use periodic payments between traders holding long and short positions—known as funding—to help keep the contract price aligned with the spot price.

According to Coinbase’s funding-rate explanation, positive funding generally means longs pay shorts, while negative funding generally means shorts pay longs. Funding is therefore a continuing cost or receipt that belongs in the economics of a perpetual position, not a one-off charge that can be ignored after entry.

Margin and leverage: less capital, larger exposure

Futures are commonly traded on margin. Margin is collateral, sometimes described as a performance bond, that represents only a fraction of a contract’s notional value. That lets a trader control a larger position than the collateral posted, which is the source of leverage.

The trade-off is symmetrical in principle but not necessarily in experience: leverage magnifies gains when prices move in the trader’s favour and magnifies losses when they do not. A small change in the underlying cryptocurrency can produce a much larger percentage change relative to the margin committed.

A CME illustration shows why notional value and required margin should be kept separate. On July 7, 2026, CME displayed estimated notional exposure of $6,334 and estimated margin of $1,435 for one Micro Bitcoin futures contract. That is an example of capital efficiency, not a fixed benchmark: CME notes that actual requirements can change and clearing firms may require more.

In practical terms, a trader should first identify the size of the exposure, then the collateral requirement, and then assess how a price move would affect the account. Treating the margin figure as though it were the full economic size of the position obscures the risk being taken.

How a leveraged crypto futures trade can fail

Consider a trader who opens a leveraged long futures position. If the cryptocurrency price rises, the position may gain value. If it falls, losses are calculated against the larger contract exposure, not merely against the intuition that the trader put up a relatively small deposit.

As losses accumulate, the account may no longer meet its margin requirements. The trader may be required to add margin or close the position. Depending on the product and account rules, the CFTC warns that losses can exceed the initial amount deposited.

This is why “I can only lose my margin” is not a safe universal assumption. Product design, account terms and the manner in which a position is closed all matter. Traders should understand their venue’s margin, liquidation and deficit procedures before opening a leveraged trade, rather than assuming every crypto product handles a shortfall in the same way.

Execution conditions can add pressure during fast markets. FINRA notes that volatility and limited liquidity can make it difficult to exit at an expected price. A position that appears manageable at one quoted price may be closed or sold at a less favourable level if available liquidity is limited when the trader needs to act.

Funding, spreads and fees change the cost of a trade

The displayed trading fee is only one part of the cost of trading crypto. Costs can include maker or taker fees, the bid-ask spread, slippage, withdrawal or network fees, and financing or funding costs. Which of these applies depends on the asset, order type, product and platform.

Maker and taker describe how an order interacts with the order book. A maker order adds liquidity by resting in the book; a taker order executes immediately against liquidity that is already available. Coinbase’s fee documentation says fee schedules commonly vary by trading volume and product, so an advertised rate should not be assumed to apply to every account or market.

The spread is the gap between available buy and sell prices. Slippage is the difference between an expected execution price and the price actually achieved. Both can matter more when liquidity is limited or an order is large relative to the available orders at nearby prices.

For a spot buyer moving coins out of a platform, withdrawal and network fees can affect the total cost. For a perpetual futures trader, periodic funding can either add to the cost or create a payment received, depending on the funding direction and the trader’s position. A dated futures position has different contract and settlement considerations, but it is not cost-free simply because it does not use perpetual funding.

Choosing spot or futures for a trading objective

Start with the desired outcome: owning the asset or gaining price exposure. Buying cryptocurrency with the possibility of transferring it to a wallet points to spot trading. Seeking exposure to a rise or fall in price without necessarily receiving the asset points to futures.

The next question is direction. Spot selling generally requires an asset to sell. Futures can support either long exposure, which benefits from a price rise, or short exposure, which benefits from a price fall, under the relevant product and account rules. That flexibility comes with contractual obligations and, commonly, margin risk.

Then consider capital and time horizon. Margin can make futures more capital-efficient than paying the full spot value, but it also increases the sensitivity of the account to adverse price movements. Perpetuals add recurring funding considerations, while dated futures have specified contract dates.

Finally, assess the route into and out of the trade. Spot holders face custody choices if assets are left on a platform or transferred to a wallet. Futures traders need to understand margin requirements and the possibility of forced closure. Across both markets, liquidity, spreads, slippage and platform risks can affect whether a position can be exited at the price a trader expects.

Frequently Asked Questions

Does spot trading mean my crypto is in my personal wallet?

No. Spot trading means buying or selling the underlying cryptocurrency. The asset may remain on the platform or be transferred to a wallet, depending on the platform’s custody and settlement practices and the holder’s actions.

Do crypto futures always result in delivery of bitcoin or other coins?

No. A futures contract is an agreement based on specified terms, and crypto futures may be cash-settled rather than settled through delivery of the cryptocurrency.

What is perpetual futures funding?

Funding is a periodic payment between long and short holders of a perpetual contract intended to help align its price with spot. Positive funding generally has longs paying shorts; negative funding generally reverses that flow.

Can I lose more than the margin I post on a futures trade?

It is possible, depending on the product and account rules. An adverse move can require additional margin or lead to closure of the position, and the initial deposit is not an automatic cap on losses.

Which costs matter besides a platform’s trading fee?

Look at spreads, slippage, withdrawal or network charges, and any financing or funding costs alongside maker or taker fees. The relevant mix differs between a spot purchase, a dated futures contract and a perpetual position.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

* This article was originally published here

Ghana Will Require Local Refining of Artisanal Gold From September 1

Ghana’s GoldBod will require Self-Financing Aggregators and their approved offtakers to refine artisanal gold doré in the country before it can be exported, beginning September 1, 2026. The order puts domestic processing at the centre of a gold export stream that reached 104 metric tons in 2025, according to Reuters via Business Day.

Existing offtake agreements must be amended by August 31. GoldBod said noncompliance could result in sanctions, including the suspension or revocation of licences.

Local refining becomes an export condition

The directive covers Self-Financing Aggregators and their approved offtakers—the parties named in GoldBod’s order. From September 1, those parties must have their artisanal gold doré processed in Ghana before export, rather than shipping it in unrefined form.

The timing creates a short transition window for businesses operating under existing offtake arrangements. Agreements in force need to reflect the new local-refining requirement by the day before the mandate takes effect, Reuters reported.

The measure is more than a preference for domestic processing. By warning that licences may be suspended or revoked, GoldBod has tied compliance to continued participation under the applicable GoldBod framework.

Export clearance process

Refining locally is only one part of the export process described by GoldBod. Export applications will be considered after the board confirms that gold has been refined at an approved or designated local refinery, Onua Online reported.

Applicants must also have paid refining charges and completed assay and regulatory requirements. In effect, a refinery confirmation, fees, assays and the required regulatory steps are all prerequisites before GoldBod considers an export application.

The framework leaves GoldBod with a direct verification role at the point of export clearance. The reported rules do not identify how many refineries may be approved or designated, nor do they state that one facility must handle all eligible material. That distinction matters when assessing the capacity needed to support the mandate.

A 104-tonne artisanal-gold export stream

The affected trade is substantial. GoldBod exported 104 metric tons of artisanal gold during 2025 and was on track to match or exceed that volume in 2026, Reuters reported.

Spread evenly over a full year, 104 metric tons equates to an average of roughly two metric tons a week. Actual volumes may not arrive at refineries evenly, but that annual comparison illustrates the scale of material that could require domestic processing once the new export condition starts.

For aggregators and offtakers, the mandate therefore changes the sequence of a large-volume trade: domestic refining, associated payments and testing must now occur before an export request can move forward. The August 31 contract deadline comes immediately before that shift.

Gold Coast Refinery pilot and capacity

Before issuing the export rule, GoldBod agreed with Gold Coast Refinery on a domestic-refining programme. Under the January 20, 2026 agreement, the programme was set to process one metric ton of gold a week, according to the Ghana Gold Board.

Gold Coast Refinery reported capacity of up to two tons weekly. Against GoldBod’s 104 metric tons of artisanal-gold exports in 2025—an average of about two tons weekly—the initial one-tonne programme represents half that average.

The capacity figures are not a measure of the refinery’s actual throughput, and they do not show that Gold Coast Refinery will be the only approved or designated facility under the September rule.

GoldBod said the export flow could meet or surpass 104 metric tons in the relevant year, making the number and operating capacity of eligible local refineries central to implementation.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

* This article was originally published here

THORChain 3.20 Unlocks Native Monero and Zcash Swaps With Bitcoin, Ethereum and Stablecoins

Privacy coins have become increasingly difficult to move into the wider crypto market without going through a centralized intermediary. THORChain is looking to change that with one of its most significant protocol upgrades yet.

The decentralized exchange announced the launch of THORChain 3.20, introducing native support for Monero (XMR) and Zcash (ZEC) swaps. Users can now swap the privacy-focused cryptocurrencies against assets including Bitcoin (BTC), Ethereum (ETH), and stablecoins directly through THORChain.

The important part is what users do not have to do. No wrapped versions of XMR or ZEC involved, no exchange account is required, and users do not have to deposit their assets with a centralized custodian before making a trade.

That gives privacy-coin holders a more direct route into some of the largest and most liquid parts of the crypto market.

A New Route Out of the Privacy-Coin Silo

The integration is particularly notable for Monero. Access to XMR through centralized exchanges has tightened considerably as trading platforms have removed or restricted the cryptocurrency in response to regulatory and compliance concerns.

That has created an awkward problem for an asset built around financial privacy and user control: holders can transact directly on the Monero network, but moving from XMR into assets such as BTC, ETH or dollar-denominated stablecoins has often required relying on the very centralized services that many crypto users are trying to avoid.

THORChain 3.20 provides another option. Instead of sending XMR or ZEC to an exchange, selling it, and then withdrawing another cryptocurrency, users can exchange the native assets directly through THORChain while maintaining self-custody.

It extends the same basic model THORChain already uses for assets such as Bitcoin and Ethereum: connecting otherwise separate blockchain networks without relying on wrapped representations of those assets.

That model becomes particularly relevant with privacy coins because decentralized access to them has historically been much more limited than for assets operating on major smart-contract networks.

More Than a Privacy-Coin Upgrade

Monero and Zcash are the headline additions, but version 3.20 also introduces broader changes to THORChain’s liquidity infrastructure.

The upgrade adds a new Stable Reserve, which introduces stablecoin-to-stablecoin swaps without liquidity fees. For users moving between supported stable assets, the system is intended to provide a more efficient execution path within THORChain.

THORChain has also introduced Protocol-Owned Liquidity (POL), giving the protocol additional mechanisms for deploying its own capital across the network rather than relying entirely on external liquidity providers. Version 3.20 also brings renewed support for Solana, Base and BNB, expanding the range of networks available through the protocol alongside its existing cross-chain infrastructure.

Together, the changes point toward THORChain becoming a broader liquidity layer rather than simply a venue for swapping between a handful of major Layer 1 assets.

Privacy Coins Get a More Direct Connection to Crypto

The larger significance of the release is that two of crypto’s best-known privacy assets are gaining a more direct connection to the rest of the digital-asset market.

Decentralized exchanges are now a fundamental part of crypto trading, but most still operate primarily within individual blockchain ecosystems. Moving native assets between separate networks can require bridges, wrapped tokens or centralized platforms. THORChain was built around removing those steps.

Adding XMR and ZEC extends that model into a part of the market where decentralized access has remained comparatively limited. For privacy-coin holders, THORChain 3.20 therefore represents more than another place to trade. It provides a way to move directly between privacy-focused cryptocurrencies, Bitcoin, Ethereum and stablecoins without surrendering custody of the underlying assets along the way.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

* This article was originally published here

Is Bitcoin Forming a Bull Flag? $90K Target Coming Into Play

What could be a bull flag is starting to form at the top of the amazing price surge that took place on Wednesday and into Friday of last week. Should this bull flag be confirmed and a breakout happens, $90K could be the eventual target. 

Bull flag forming?

Source: TradingView

Looking at the short-term time frame chart above, it can be seen that the $BTC price hit a local high of $79,500 before falling back quite sharply to $76,700. Since then the bulls have regrouped, and the pattern that is starting to emerge looks very much like a classic bull flag.

This type of pattern usually has the price going sideways and lower within the confines of a flag structure until there is a breakout, which would normally issue from the top of the pattern.

However, for a bull flag to be confirmed there would typically be at least three touches to the top of the flag, and three to the bottom. As can be noted, the price action is lacking in this requirement so far, although with some more sideways and downward chop the pattern can eventually be completed.

Something else to think about is that since the $BTC price hit that top, the retracement has only taken it back as far as the 0.236 Fibonacci level. This is the shallowest of all the Fibonacci levels, and if the price does bounce from here it would be very bullish indeed. That said, a correction to at least the 0.382 would probably be a more healthy one.

Confluence at $69K

Source: TradingView

Moving up into the daily time frame one can only gaze with awe at the size of the price increase once the $BTC price had arrived at the very end of the junction between the bear and bull market trendlines and had exploded upward.

So what happens now? Does a bull flag continue to take shape, or could the price fall all the way back to $69K, where horizontal support awaits, plus the 0.618 Fibonacci level, and also a potential confirmation of the 200-day simple moving average. This is a lot of confluence, and like a magnet, this could draw the price back down for what would be a very healthy correction.

At the bottom of the chart, the Relative Strength Index (RSI) displays its indicator high up in overbought territory. The height attained here is greater than anything seen since the $BTC price first entered into its 8-month long bull flag in February 2024. One excellent result of this climb, as far as the bulls are concerned, is that the huge downward trend stretching back to November 2024 has potentially now been nullified.

Continuation or healthier pullback?

Source: TradingView

The macro time frame of the weekly shows us how important the current resistance at $78,600 is, and also the next resistance after that at one of the bear market highs at $82,750. Can the $BTC price get through this, or is a longer corrective period needed?

One thing is pretty sure in trading - a price cannot go up at such a pace indefinitely. The time comes when the buyers are exhausted, and that’s when the sellers step in.

It may be that the bull flag does continue to play out and there is a renewal of the upward thrust from Bitcoin. However, that may not be a healthy outcome, and if this happens, the correction, when it does come, could be a lot more violent.

Back to the RSI - in this weekly time frame it can be seen that the indicator line has broken through the downtrend. We need to wait until the end of this week to see if it holds above. If it does, stand by for more upside price action.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

* This article was originally published here

How To Trade Crypto Perpetual Futures in 6 MINUTES ($25 Bonus)

* This article was originally published here

BC Token Price Jumps 98% to New All-Time High as BC Engine Reaches Nearly 450,000 Participating Accounts

 

Key Takeaways

• BC Engine reached nearly 450,000 participating accounts four months after launch.

• BC Token ($BC) jumped 98% to a new all-time high following the milestone.

• The rally comes as traders watch whether platform-linked tokens can maintain momentum.

• BC Engine growth has become a key development around the BC ecosystem.

BC Engine Adoption

Earlier this week, BC Engine reached a major milestone, surpassing nearly 450,000 participating accounts four months after launch.

One of the biggest developments is the rapid growth of BC Engine participation, which allows users to engage with the BC ecosystem through staking and reward mechanisms.

The milestone comes as BC.GAME continues expanding its crypto gaming ecosystem.

However, the most important development is the growing role of BC Engine around the $BC token economy.

BC Engine provides additional utility through participation mechanisms connected to the BC ecosystem.

The platform has attracted nearly 450,000 participating accounts since launch.

Shortly after the milestone, BC Token price continued its upward move, reaching a new all-time high.

BC Token All-Time High

With the latest move, BC Token ($BC) jumped 98% from April levels.

The token has moved from around $0.01181 in April to above $0.02345.

The price increase comes alongside the rapid growth of BC Engine participation.

The move puts BC Token at a new all-time high as traders watch the relationship between platform activity and token performance.

The rally has been driven by ecosystem developments rather than broader market momentum.

BC’s price action will now depend on whether the token can establish support after the latest breakout.

Final Thoughts

BC Engine’s growth has added a new development point for the BC ecosystem as BC Token reaches new highs.

However, the rapid price movement also brings increased volatility as traders assess whether momentum can continue.

The next stage will show whether BC Token can consolidate at higher levels as BC Engine adoption continues.

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

* This article was originally published here