Frequently Asked Questions (FAQ) of Account, Verification, Deposit, Withdrawal and Platform in StormGain
About StormGain
About
StormGain is a cryptocurrency platform for leveraged trading and investing. It is ideally suited to anyone who wishes to make money on cryptocurrency price changes and/or make long-term investments in crypto and other digital assets. The platform supports trading in more than 40 different cryptocurrency futures contracts, crypto indices, equities and even commodities while also offering leverage of between 5:1 and 300:1. Whats more, StormGain can also be used to purchase, exchange and store cryptocurrencies.All profits, losses, account balances and margin requirements are expressed in the stablecoin Tether (USDT), which enables users to avoid the risk of exchange losses (a particularly common problem when trading high volatility cryptocurrencies like Bitcoin and Ethereum) while also facilitating risk and profit management.
Our platform offers various order types and instruments, buy/sell trading signals, and extremely favourable commission rates to boot. Simply put, weve got everything you need to make the most of your trading! Our signals are prepared by top market experts and boast average returns of up to 65%, which means you can confidently make trades without having to do your own in-depth market analysis. When you register, youll gain access to two separate accounts, one live and one demo. The latter allows you to get some training under your belt before investing for real without risking your hard-earned funds.
StormGains fast registration process (all you have to provide is an e-mail address and password) and state-of-the-art security system complete with two-factor authentication ensure you receive the service you deserve. Click here for more detailed information about how to register your account.
Whats more, our traders can start trading immediately after registration.
We advise you to go to the Education tab and watch our video tutorial, which will get you trading in no time!
StormGain App Store
StormGain Google Play
Islamic accounts with swap-free trades
StormGain is proud to announce the debut of Islamic accounts on our platform, opening all the possibilities of the cryptocurrency world to our Muslim clients who wish to practice ethical trading according to their religious beliefs.Who can use a StormGain Islamic Account?
The StormGain Islamic Account has been designed for Crypto traders who are unable to receive or pay swaps due to religious beliefs. Please note that StormGain is not a religious institution; therefore does not take the Islamic Account definition as permission to trade.Please independently verify that all your trading by your beliefs.
What’s unique about an Islamic account?
The religious strictures of Islam forbid riba (usury) or gharar (gambling). An Islamic trading account is a trading account that complies with Islamic law. Therefore the StormGain Islamic account is swap-free and does not incur interest or any rollover commissions.
The validity of cryptocurrencies in the Islamic banking philosophy has been a matter of discussion among many respected scholars. At first, there was scepticism about this new technology. However, as the understanding of cryptocurrencies developed, Muslim innovators tried to create technologies that would comply with Sharia from their inception. Furthermore, Islamic banking experts also recognised the transformative effect that blockchain and crypto technology could have in empowering individuals in the Muslim world, especially in areas where traditional banking services are underdeveloped or unfair. In this case, cryptocurrency can be seen as desirable according to the principle of maslaha (public interest).
Note that Islamic accounts are not available for users who already hold a non-Islamic account with us.
How can I open an StormGain Islamic Account?
To open a live StormGain Islamic Account, Muslim clients must sign up for an account through this page https://promo.stormgain.com/lp/en-en/isl2/ Please note that this option is not available if you already have a non-Islamic account with us.
How can I deposit funds into my StormGain Islamic Account?
After registration from the Islamic accounts landing, you can initiate your first deposit via StormGains platform using your preferred deposit method.How can I withdraw funds from my StormGain Islamic Account?
You can request a withdrawal of your funds at any time via StormGain platform. We normally process withdrawal requests within 24 hours on business days.Is there swap or interest charges on StormGain Islamic Accounts?
There are no swap or interest charges. We apply an administration fee justifiable for the administration of related expenses to manage your account.
What is the loyalty programme, and how does it work?
StormGains loyalty programme is an opportunity for clients to take advantage of more favourable trading terms and bonuses. The loyalty programme includes a range of bonuses and discounts that clients receive based on their status. There are 7 status grades in total: Standard, Gold, Platinum, Diamond, VIP 1, VIP 2 and VIP 3. The higher your status is, the more favourable your trading terms are.Clients are awarded a status based on their trading volume for the calendar month.
After qualifying for a particular status, clients receive the following status-determined benefits:
- Deposit bonuses
- Discounts on trading commission
- Lower commission for cryptocurrency exchanges
- Interest on funds held in StormGain wallets
- Higher speed of mining
More information about the programme can be found here: (https://stormgain.com/loyalty-program)
Rules governing the receipt and use of bonus funds
What are bonus funds?Bonus funds (bonuses) are USDT-denominated monies that can be used for trading and generating profit, but cannot be directly withdrawn from users’ accounts.
How do I get a bonus?
Bonuses are given in the following cases:
- for account deposits where the client’s status is higher than Standard
- following client participation in the company’s various bonus schemes, the details of which are provided by the company on its website or by other means
What is the maximum amount of bonus funds I can have on my account?
The maximum amount of bonus funds that are eligible for withdrawal by a client from his or her account shall not exceed 20% of the total balance of said account. In the event that the client increases/decreases his or her USDT account balance, the remaining amount of bonus funds available for trading shall be adjusted automatically.
Open positions are not taken into account when calculating the ratio of real funds to bonus funds.
How do we calculate the remaining amount of any bonus funds involved in an open trade?
The trade shall first be backed by real funds, and then by bonus funds.
What happens to any bonus funds when I transfer USDT between various accounts within the app?
Whenever you make a transfer from your USDT account to another account held within the app, any bonus funds will automatically become unavailable for trading.
However, these funds are still yours, and as soon as you transfer the money back into your USDT account, the bonus will reactivate.
What happens to my bonus funds if I withdraw my money from the terminal?
Client
Two-factor authentication: Google Authenticator and SMS
Clients safety is essential to us. Thats why we recommend that you enable two-factor verification.2FA (two-factor verification) is a simple way to improve your safety using an independent verification channel. After you type in your login details and password, the platform will require a 2FA verification. You will have to enter a single-use password that will be sent to your smartphone in order to enter the system.
There are two ways of doing it:
- via SMS (you will receive a code in an SMS message),
- via Google Authenticator (you will receive a code in an application).
How do you enable it?
Open your application profile:
Enter the Safety section
SMS
Hit the Disabled button
You will see a window where you can verify your phone number. Enter your phone number and click on Send the code. You will receive a code via SMS. Enter that code.
Google Authenticator
First, you have to download the application.
Click on Download and follow the instructions that appear on the screen.
Click on Continue.
You will receive a personalized key that will allow you to enter the authenticator.
Scan the QR code using Google Authenticator
Enter the code
If the code is correct, you will see a confirmation message.
In future, every time you enter the StormGain account, you will be required to enter your username and password. Youll then have to enter a 6-digit code or a code that Google will send to your phone.
What shall I do if system says that verification code is incorrect?
Please check if the time and time zone has set correctly on the phone with Google Authenticator. The incorrect time could be the issue of an incorrect one-time code generation.
What shall I do if I deleted, reinstalled or need to recover the access to Google Authenticator?
Please pay attention that when enabling Google Authenticator, you were provided with a secret code (which you should have been written), that you can use to restore your Google Authenticator. Please use this code to restore Google Authenticator.How to delete your account
If you want to delete your account, please withdraw funds from your account first. To do so, log into your account, select your wallet and create a withdrawal request by following the instructions.After you withdraw your funds, please fill in the Feedback form.
Our support team will review your request and send you a confirmation e-mail.
How to recognize scammers?
A scammer is an individual, who makes fraudulent transactions on the Internet and on other social areas using peoples trustful attitude. He has excellent knowledge of psychology, so he/she can easily enter into a trusting relationship with the victim of his/her criminal intent, committing illegal acts. The actions of the scammers can be so varied that it is very difficult to give concrete advice on how not to become a victim. However, being cautious would be the most important advise for those who actively use electronic payments and have any financial relationships in virtual space.1) We are being copied and falsified by many scammers. It is impossible to resist this because the groups are open. That is why we advise you first of all to be wise and not to send your money to anybody for solving ANY question.
2) The administrators of the group, as well as Support team will NEVER be the first to write. The only possible case is when we have notified you in front of everyone in the group about sending you a personal message. This situation may occur while the administrator is talking to you in the group and solving your problem. We do not write to you for no reason with the questions: "How are you? Have you been served? Has your problem been resolved?".
3) Before beginning a conversation with administrator in a private message, take a screenshot and make sure in the group that he/she is a real administrator.
4) We DO NOT ASK FOR MONEY under any circumstances. THERE ARE NO SUCH PROBLEMS that require additional money from the client to be deposited into our personal accounts.
4.1) We also do not ask for passwords for client’s personal account. Personal information that may be requested by administrators or Support team is email/account number and screenshot of trouble. 5) Group administrators as well as Support team DO NOT solve financial issues (withdrawals/deposits, commissions etc.). We can only explain the issue, in other cases we will refer your question to the technical support, financial department etc.
6) There are only four! official channels of communication with Support Team: email, online chat on the official website, official Telegram Bot - @StormGain_SupportBot (this bot has NO possibility to write first) and Support Team phone number: +2484671957.
7) If you are still a victim of scammers, we DO NOT refund such transactions and unfortunately cannot influence it in any way.
How to check that you are communicating with NOT real administrator in Telegram:
- Look at the nickname carefully. The official nicknames of our company’s representatives are listed in all groups. Scammers can create exactly the same nicknames with one different letter of another alphabet (for example, @Vrrrai - the first 5 letters of the English alphabet and a letter of the Ukrainian or French alphabet). There are many ways and variations, which are invisible at first glance.
- The best way to check are avatars. All valid Stormgain administrators have three avatars, while scammers usually substitute only the last one.
- Our administrator will never write to you: "Good afternoon! Sorry for the delayed answer. Has your question been answered?" We help very quickly and always know if anyone doesn’t get the answer. Exactly these questions are the most common phrases of scammers.
The official Stromgain Feedback form and Telegram channels are listed below:
https://t.me/StormGain - global
https://t.me/stormgain_esp - spanish
https://t.me/StormGainTurkish - turkish
Announcements: https://t.me/stormgain_news https://t.me/stormgain_newsru
Bot-helper - @StormGain_SupportBot
Feedback form https://app.stormgain.com/#modal_sfFeedback
Wishing all of you safety and successful trading!
Know Your Customer and account verification
Know Your Customer is a policy that many banks, financial institutions, and other regulated companies use to verify the clients identity to be able to do business with him or her. One of the main goals of this policy is to decrease the clients risks.
Usually, this procedure consists of providing personal data, such as:
- Full name
- Day of birth
- Address
- Nationality
- ID or passport scan.
These documents may be required as part of the account verification process. The aim is mainly to protect the Clients funds. It is essential to be aware that this kind of requirement is not a separate notion, but a regimented account verification procedure that many international companies, who are doing business via the internet, are practicing. Please be understanding of it. We are hoping to have a long-term collaboration based on documented proof of the trading, adding and withdrawing funds operations.
Deposit and Withdrawal
Fees for deposting and withdrawing funds
You can deposit funds to and withdraw them from your trading account with crypto wallets, debit/credit cards (only for deposits) and SEPA transfers (for EEA countries).The commission depends on the deposit/withdrawal method:
- The fees for deposits with a credit card through Simplex are 3.5% (or 10 USD, whichever is higher) and 4% through Koinal (the conversion on the Koinal side of the transaction should also be taken into account).
- There are no fees for depositing funds to a trading account from a crypto wallet or via a SEPA transfer.
- There are no fees for depositing using a Mastercard debit/credit card (only for EU countries).
Please note that there are minimum deposit and withdrawal amounts.
There are no fees for withdrawing funds via SEPA transfer.
Note that fees may change. We recommend checking up-to-date information in the Fees limit section.
When should I receive my money?
StormGain transactions take 5-20 minutes to be processed.If a transaction is large (over 1 BTC worth), processing may take longer depending on the size of your transaction and blockchain capacity.
How do I cancel my transaction?
Blockchain transactions are irreversible.Once cryptocurrency is sent, it cannot be rolled back.
So if you transfer cryptocurrency, check attentively all the payment details prior to sending.
My transaction was unsuccessful
1. Transaction hasnt been included to a blockchain.Cryptocurrencies arent stable, so minor errors might occur.
We can push a payment through if you fill in the Feedback form and select "Funding account" category and fill in all the required fields.
2. ETC and ETH confusion.
The addresses of Ethereum (ETH) and Ethereum Classic (ETH) are of the same structure.
If you send ETC or ETH, make sure that youve created an appropriate transaction on StormGain.
For example, if you create an ETH to BTC transaction, make sure that you send ETH, not ETC.
Otherwise, your transaction will be stuck.
3. Wrong XEM message.
While sending XEM, make sure that youve put a correct message.
Its indicated here and looks like a combination of digits and letters.
Messages like "Hey! How are you?", "I love StormGain" etc. are lovely but dont work, unfortunately :)
4. Other internal errors.
Even our perfect system may experience internal issues.
If you suppose that this is the case, please report it to us using the Feedback form.
How can I withdraw funds from my StormGain Islamic Account?
You can request a withdrawal of your funds at any time via StormGain platform. We normally process withdrawal requests within 24 hours on business days.
Why does my transaction take so long?
Our transactions generally take up to 1 hour to process. If your transaction takes longer than this, it may be because the blockchain is overloaded. Many transactions are processed at the same time as yours.
In this case, I would suggest that you wait. Unfortunately, StormGain can’t affect issues related to the blockchain being overload.
Please wait for the funds to be credited. If they don’t appear in your account in 4-5 hours, please let us know via the contact form.
In your request, please provide the following transaction information (as text, not a screenshot):
- Sender address
- Recipient address
- Transaction ID (hash)
- Deposit tag (if you deposited XRP)
- Memo ID (if you deposited XLM)
- Payment amount and currency.
Trading Platform
Active and inactive bonuses
As part of our loyalty programme, clients are awarded a deposit bonus. For every credit to your account, you will receive between 5-20% of the amount deposited (exact percentage is determined by your individual status). All bonuses are denominated in USDT.
These funds may be used for trading, but may not be withdrawn from your trading account. However, any profit you make from trading with bonus funds is yours to do with what you will. You can see all your bonuses in the "My wallets" section of the terminal.
Active bonuses are tradable, which means you can use them to make trades.
Inactive bonuses are bonus funds that are currently held in reserve. This is because the total amount of non-withdrawable bonuses on any single trading account may not exceed 20% of the total USDT balance of the account. The amount of tradable bonus funds available automatically updates as the USDT balance of the account increases/decreases.
For example, say the remaining balance of a given account is 1000 USDT and its holder has accumulated 350 USDT in bonuses. The amount of (active) bonus funds available for trading will be 200 USDT. The remaining 150 USDT in bonus funds will be visible in the Inactive Bonus column. If the account balance rises to 1750 USDT, the active bonus (available for trading) column will show a value of 350 USDT.
Smart filters
The StormGain app allows users to filter instruments according to specific criteria of their choosing. When the platforms default settings are applied, only the most popular instruments are displayed. However, there is a way for you to see all our available trading instruments ("All instruments"). You can also filter instruments according to their price activity. Under "Biggest gainers", for example, you can find the cryptocurrencies demonstrating the strongest growth. Under "Biggest losers", on the other hand, you can see the coins that have lost the most.
Tabs with filters can be found at the top of the trading app screen, under "Futures".
Whats more, users can also create their own watch lists which they can populate with the coins that they find most interesting or those which they trade most frequently.
To add an instrument to Favourites, all you have to do is pull its chart up on the screen and click the little star next to the cryptocurrency pairs name.
Trading signals
Our trading signals constitute a ready-made cryptocurrency trading solution. All the trader has to do is choose their trade amount and leverage. The solution provides recommendations for the direction, entry price, Take Profit and Stop Loss parameters of the trade. This feature is only available on our mobile app.
If you would like to take advantage of it, simply select "With signals" in the "Futures" tab.
A list of instruments for which ready-made trading signals are currently available should then appear. Available instruments will be designated with a special icon.
To use the signal, simply click on your chosen cryptocurrency. A trade window will then open.
After that, click on the corresponding signal button. In the example, this is a "Buy signal".
If you want to use the signal to open a trade or make modifications to its default parameters, click "Apply signal". A dialogue window will open.
You can change your investment amount or leverage by clicking on the corresponding tab in the platform.
Your Take Profit and Stop Loss levels will recalculate automatically according to the input trade parameters. All you have to do then is click "Confirm Purchase (Sale) at price of…"
Trading indicators
When deciding which trading solutions to use, traders and investors invariably turn to technical analysis. This involves conducting market analysis using a variety of different indicators. Our technical analysis feature is only available on the StormGain web platform.
If youd like to add an indicator to a given chart, you will first need to enter full-screen mode by clicking the "Indicators/Full screen" button.
Once you enter full-screen mode, click the "Indicators" icon and select the desired indicator type (trend, oscillator or volatility indicator) before choosing the indicator you wish to apply from the drop-down menu. The selected indicator will then appear on the chart.
An on-screen message will then appear to say which indicator has been added. Theres also an option to edit the indicators default parameters. This can be accessed by clicking the gear icon next to the indicator.
You can find an exhaustive list of available indicators in the platforms "Indicators" tab.
How to manage push notification subscriptions
Android users are automatically subscribed for push notifications after registering in the app.iOS users are given the option to subscribe. A message appears after completing the first trade in a demo or real account.
How to unsubscribe:
Go to telephone settings (this function works differently across phone models).
- Find the Notifications section.
This is where you can select the notifications you wish to enable/disable.
Simply toggle right to enable this type of notification or toggle right to disable it.
Push notifications
A description of various notification typesYou can receive push notifications in the app.
These may be event notifications that users generate on their own.
For example, this could be a message that the user has the app open, but has been inactive for a certain amount of time. Notifications can also be about trades: a trade opening (a pending order has been completed) or a margin call.
Users can also receive notifications about significant price changes for selected instruments, important news or the release of analytical articles.
Real and demo accounts
The key difference between a demo account and a real one is that the demo account can be used without investing actual cryptocurrency. The trade conditions in a demo account practically mirror trading conditions in a real account. The one function found in a real account thats missing from a demo one is the offer of fund withdrawal, and this is because all funds in the demo account are virtual. However, the demo account provides an excellent opportunity for traders to test themselves in a trading environment without any risk or investments. Users can also complete trades and develop a new trading strategy, before employing it in their account with real money.When you sign up for the StormGain app, you will automatically receive access to both real and demo accounts. To switch from one account to the other, click account management in the window.
Select demo account in the dropdown menu that appears.
You can now make trades without putting your own money at risk.
Which execution type do you use when executing my orders?
All trades you make are executed according to the Market Execution model.What does the trading process look like and what is the Leverage Feature?
The basic trading principle within StormGain platform is the following: the result of a trade changes in proportion to the price of the underlying asset the trade is based on.To manage your money more effectively, a trader can use the Leverage Feature, which is set at the moment of opening a trade. The Leverage is a value that determines how the trade result changes relative to the underlying asset price.
For asset trading, you can only use integer numbers as leverage values. To view the maximum possible leverage value for each trading instrument, please refer to the website.
How do I lock my profit or set my loss limit?
You can set your profit target or loss limit (stop loss). Upon reaching these paramters your trade will be closed automatiically.You can do it both at the moment of opening your trade and any time after you have opened it.
To set your profit target at the moment of opening your trade, do the following:
- In the Open Trade window, click the Loss and Profit Limits link.
- Set your loss limit and/or your profit target.
- Select a direction and click the respective button.
To set your profit target and/or loss limit after you have already opened your trade, do the following:
- Go to StormGain and select the trade in question from the "My Trades list" In the dialog that shows up, specify the desired values and click Save.
Increasing an Active Trade Amount
By entering into a transaction in the terminal StormGain, you are sure that your risk is limited to the amount of the transaction that you opened.At the same time, free funds in your account are always safe.
However, in trade there are situations when a deal that approaches the zone of maximum allowable level of losses and can be closed as a result of an accidental price jump, must be secured against forced closure.
To provide the necessary margin of safety, you can increase the amount of this transaction.
Increasing the amount can avoid premature closure and keep the trading process under control.
To use the function, you must select the active transaction, the amount by which the transaction will be increased and confirm the transaction.
After that the following will occur:
- The amount of the transaction will increase, and the level of forced closure will move to a safe distance.
The opening price of the transaction will change and will be equal to the weighted average price of the initial opening price of the transaction and the price of the instrument at the time of the transaction:
- A commission is charged for this operation, which corresponds to the amount of an increase in the transaction, taking into account the leverage.
- From the moment of the transaction to increase the amount of the transaction, the accrual for postponing the position to the next day will also increase.
The write-off will be made from the new investment amount;
- We draw your attention to the fact that the increase in the amount of the transaction occurs with a leverage equal to the leverage for the current transaction.
How do reports on active and closed transactions work?
In the Reports section you can view all completed cash flows:- Exchange
- Trading
Exchange
The reports in the "Exchange" section contain full information about the transfer of one cryptocurrency to another for both Active and Closed orders:
- date and time
- amount debited and amount received
- the exchange rate
- commission
- order status
- amount debited and amount received
- the exchange rate
- commission
- order status
Trading
The reports in the "Trading" section contain full information about the transactions for Active, Limit/Stop orders and Closed orders:
- date and time of opening a transaction
- date and time of closing the transaction
- amount of investment at the time of opening
- fixed financial result at closing time
- leverage
- Stop Loss and Take Profi
- commissions
- change history
- date and time of closing the transaction
- amount of investment at the time of opening
- fixed financial result at closing time
- leverage
- Stop Loss and Take Profi
- commissions
- change history
Crypto Glossary
AAddress
A secure identifier marked by a unique string of characters that enables payments to an individual or entity via blockchain transactions. It usually requires a private key to exclusively access the funds. For example, Bitcoin addresses are alphanumeric strings that begin with a 1 or 3; Ethereum addresses begin with 0x.
Altcoin
A cryptocurrency or a category of cryptocurrencies that are an alternative to bitcoin. Many altcoins project themselves as better alternatives to bitcoin in various ways (e.g. more efficient, less expensive, etc.).
AML (Anti-Money Laundering)
These is a set of international laws that hope to prevent criminal organizations or individuals from laundering money through cryptocurrencies into real-world cash.
B
Bitcoin (BTC)
A type of cryptocurrency created by Satoshi Nakamoto in 2009. It was one of the first digital currencies that enabled instant P2P payments. Bitcoins are created through a process known as bitcoin mining that requires a massive amount of computing power. For more information, please see the Bitcoin whitepaper.
Bitcoin Cash (BCH)
A type of cryptocurrency that was created in August 2017 and is essentially a clone of the Bitcoin blockchain but has increased block size capacity (from 1 MB to 8 MB) as a way to solve the scaling problem.
Block
Refers to a collection of data related to transactions that are bundled together with a predetermized size and are processed for transaction verification and eventually becomes part of a blockchain.
Blockchain
A decentralized, digital ledger where transactions made in Bitcoin or other cryptocurrencies are recorded chronologically and publicly. The block contains information that, once it goes into the blockchain, it becomes part of the permanent and immutable database, connecting to other blocks in the blockchain like the links in a chain.
Bullish
An expectation that price is going to increase.
Bearish
An expectation that price is going to decrease.
C
Cryptocurrency
A type of digital currency that is generally decentralized and uses cryptography (i.e. data is converted into a format that is unreadable for unauthorized users) for added security, making it difficult to counterfeit or manipulate.
D
DASH
A type of cryptocurrency based on Bitcoin software but has anonymity features that makes it impossible to trace transactions to an individual and other capabilities. It was created by Evan Duffield in 2014 and was previously known as XCoin (XCO) and Darkcoin.
Decentralized
A state where there is no central control, power or function, or in reference to infrastructure, no central point of failure.
E
Ether (ETH)
A type of cryptocurrency that is used for operating the Ethereum platform and is used to pay for transaction fees and computational tasks. In the platform, transaction fees are measured based on the gas limit and gas price and ultimately paid for in Ether.
Ethereum
An open source, decentralized platform based on blockchain technology created by Vitalik Buterin in 2013. It runs smart contracts on a custom built blockchain that allows developers to create markets, store registries of debts, and so on.
Exchange
The platform through which cryptocurrencies are exchanged with each other, with fiat currencies and between entities. Exchanges can vary widely in the currency conversions they enable and their fee structures.
F
Fork
A situation where a blockchain splits into two separate chains. Forks generally happen in the crypto-world when new ‘governance rules’ are built into the blockchain’s code.
G
Genesis block
The first block of data that is processed and validated to form a new blockchain, often referred to as block 0 or block 1.
H
Hash (Cryptographic Hash Function)
This process happens on a node and involves converting an input – such as a transaction – into a fixed, encrypted alphanumeric string that registers its place in the blockchain. This conversion is controlled by a hashing algorithm, which is different for each cryptocurrency.
I
IOTA
Refers to the cryptocurrency and the name of an open source distributed ledger founded in 2015 that does not use blockchain (it uses a new distributed ledger called the Tangle). It offers features such as zero fees, scalability, fast and secure transactions, and so on. It is focused on the Internet of Things.
L
Litecoin (LTC)
A type of cryptocurrency that was created by former Google employee Charlie Lee in 2011. It offers features such as Segregated Witness and the Lightning Network which allows for faster processing at lower cost.
Liquidity
Liquidity is the degree to which a particular asset can be quickly bought or sold without affecting the general stability of its price. In simplest terms, liquidity refers to the ability of an asset to be converted into cash easily.
Long
When you intend to take a large amount of cryptocurrency and stockpile it with the anticipation that it will grow in value, you are going long (or taking a long position).
M
Mining
A process where transactions are verified and added to a blockchain. It is also the process where new bitcoins or certain altcoins are created. In theory, anyone with the necessary hardware and access to the internet can be a miner and earn income, but the cost of industrial hardware and electricity has limited mining for bitcoins and certain altcoins today to large-scale operations.
Monero (XMR)
A type of cryptocurrency created in 2014 that is focused on privacy and scalability, and runs on platforms like Windows, Mac, Linux and Android. Transactions on Monero are designed to be untraceable to any particular user or real world identity.
N
NEM (XEM)
Refers to the cryptocurrency and the name of a platform for management of a variety of assets, including currencies, supply chains, ownership records, etc. It offers additional features to blockchain technology such as multi-signature accounts, encrypted messaging, etc.
NEO
Refers to the cryptocurrency and the name of a Chinas first open source blockchain that was founded in 2014 by Da Hongfei. It is similar to Ethereum in its ability to execute smart contracts or dApps but has some technical differences such as coding language compatibility.
Node
A computer that possesses a copy of the blockchain and is working to maintain it.
R
Ripple (XRP)
Refers to the cryptocurrency and the name of an open source payment platform where the cryptocurrency (Ripple or XRP) can be transferred. The vision for the platform is to enable real-time global payments anywhere around the world. The Ripple payment protocol was built by OpenCoin which was founded in 2012. For more information, visit Ripples official website.
S
Short
Also known as short selling, this is a concept whereby traders sell an asset they don’t have. The hope is that they can then buy the asset at a lower price than which they sold it to complete the deal. Thereby they earn a margin in the interim.
Sell Wall
When a large limit order has been placed to sell when a cryptocurrency reaches a certain value, that is a sell wall. This can prevent a cryptocurrency from rising above that value, as supply will likely outstrip demand when the order is executed.
T
Token
Crypto tokens enable the creation of open, decentralized networks, and provides a way to incentivize participants in the network (with both network growth and token appreciation). This innovation, made popular with the introduction of Ethereum, has given rise to a wave of token networks (e.g. prediction markets, content creation networks, etc.) and token pre-sales, or ICOs.
Transaction
The value of cryptocurrency moved from one entity to another on a blockchain network.
V
Volatility
The fluctuation in an asset’s price is measured by its volatility. Cryptocurrency prices are notoriously volatile compared to other assets, as dramatic price shifts can happen quickly.
W
Wallet
A store of digital assets such as cryptocurrencies, analogous to a digital bank account. Crypto wallets can be divided into two categories: hosted wallets (e.g. wallets store on exchanges or third-party servers) and cold wallets (e.g. hardware wallets such as the Ledger Nano S, paper wallets and desktop wallets).
Whale
A term used to describe extremely wealthy investors or traders who have enough funds to manipulate the market.
StormGain’s Crypto Miner
StormGain is delighted to announce the launch of its exciting new Cloud Miner tool. This unique, innovative feature enables users to mine their very own cryptocurrency right from their phone. We don’t know of any other platform that offers anything quite as lucrative. Apart from sparing you from spending a fortune on equipment, Cloud Miner is hosted on our remote cloud servers, meaning it doesn’t even drain your battery or processing power! It’s fast, risk-free and costs nothing to try.
How do I get involved?
Just install the award-winning StormGain app and register an account. The entire process takes less than five seconds, and there are none of the tedious security checks you get with other brokers. Once your account is up and running, simply open the Cloud Miner section, hit ‘Start Mining’, and the app will automatically connect to our cloud services.
You can also run the miner on the web version of the platform. Just log in to your account in your browser, select the "Miner" section - "Activate" button.
Don’t forget to hit the mining button every four hours to grow your crypto. Then, all you do is wait for your first 10 USDT worth of crypto to be mined. After that, you can trade or exchange it on the StormGain platform. Any profit you make is yours to do with what you will.
