“Centralized exchanges are turning into banks,” – trader Evgeny Loza

CONTENT

  • It’s worth investing in your education and cryptocurrencies

  • In the best hours, traders can earn $ 100 thousand

  • Centralized exchanges are more and more like banks

International consortium of news organizations developing transparency standards.

Evgeny Loza is a professional crypto trader who has been working in the financial market for over seven years. Today he is one of the top traders on TradingView, runs his own company, Excavo, and also teaches novice traders in all the intricacies of crypto trading. Eugene’s forecasts and recommendations are followed by thousands of users from all over the world. BeInCrypto discussed with an expert the main trends in the cryptocurrency market, learned his opinion on the DeFi account Decentralized finance (DeFi) is a financial services built on the basis of blockchain technology that offer users access to an open, efficient and … More, and also received several recommendations about investments for 2021.

5 Best Crypto Exchanges to Buy Bitcoin in the UK (2021)

– Evgeniy, how long have you been engaged in crypto trading? How did you come to this area? Have you ever traded on stock exchanges or Forex??

E.L .: I came to the financial market in 2013. He started trading gold, oil, SP500 and DAX30 indices. At that time I worked in a financial company, where I specialized in these financial instruments..

Two years later, I left the company and decided for myself that I would devote half my life to financial markets. And he began to think how to realize his plans. After a while, I created an EXCAVO page on Tradingview. At that moment, I saw great potential in this platform and began to publish my analytics, recommendations, as well as educational content..

At the end of 2016, a Tradingview member asked me what I thought about Bitcoin. I told my vision and received the first publication on this resource. Since then, I continue to regularly make reviews and forecasts there, share my experience.

If we talk about how I got my first cryptocurrency, then I managed the assets of an investor from Canada, trading the same gold, oil and indices. When the question arose about transferring the commission from the earned profit, the options Swift, webmoney, Paypal did not suit me. The investor offered to drop the payment in bitcoin. These were my first digital coins.

Evgeny loza

– How and where did you learn to trade on the crypto market? Have there been any failures and how much money did you lose on cryptocurrencies as much as possible? Under what circumstances did this happen?

E.L .: As I trade cryptocurrencies, I have been transferring asset management skills to traditional markets. But at that time, the top-end crypto-exchange Poloniex worked extremely poorly and slowed down any movement of crypto assets. This, of course, caused a lot of problems, including financial.

If we talk about losses, the largest was in 2018 on the Bitfinex exchange. Looking back, I can single out two main reasons for the failure. First, the entire Excavo team traded on one account, not different ones. It was my fault as organizer and manager of the company. Secondly, the exchange itself blocked the terminals, closed deals at its own discretion. We lost a significant amount of money, but we learned a lesson.

– How much did you make the most on trading? What is your monthly turnover and which exchange do you trade?

E.L .: I have accounts on different exchanges. I don’t want to advertise to anyone, but I diversify the risks with various tools that the current cryptocurrency market can offer. Of course there were deals that brought in a lot of interest. But the most profitable 4 hours were on March 13, 2020 – he bought out bitcoin and other coins with significant leverage, observing money management. Result: + 100k in 4 hours.

– What costs do traders bear: exchange commission, commission for deposits and withdrawals, other fees. How much do you spend on it per month?

E.L .:  Commissions take a significant part of a trader’s profit, but they are paid by all participants who trade on centralized exchanges. The more trades you make, the more you pay. I now trade more measuredly and do not make deals every day.

– What cryptocurrencies do you work with? And which do you think are the most promising?

E.L .: I have different accounts and I follow the trends in the market. There are top instruments that I look after. I spend a small part of my capital on futures transactions.
There is also a part for positional alt trading on the spot. There is work with options.
There are simply promising, in my subjective opinion, projects where I am accumulating funds.
The most promising projects are those that people use. And the prospects of the project depend on the quantity and quality of these people..

– How do you rate the DeFi boom? How long will it last and is it possible today to make money on farming or DeFi tokens. How risky is it?

E.L .: I see great potential in DeFi in terms of development and growth. This is the direction that has become a priority for me in the development of the company.

This year we started to make our DeFi-project – automatic Market Maker EXCAVO.FINANCE based on that very profitable pharming.

If we talk about the prospects, yes they are. Now the crypto market has changed a bit. Most people come here to make money using centralized exchanges. The true and initial motives of people who began to use cryptocurrencies are a departure from the current system of the economy, which is tied to central banks and banks in general, which can block accounts, freeze, and set withdrawal limits. These are my assets and I want to dispose of them myself.

But now we see the opposite picture – the BitTrex exchange announces that they are stopping work with residents of Ukraine, Belarus and Venezuela. Giving a little time for the withdrawal of assets, as well as blocking and the requirement to prove the origin of funds up to 5 knees The same bank. I’m not talking about the hacking of these exchanges, as was the case with KuKoin.

Pro Crypto Banks & Those to AVOID!! 😡

And if you look at the next 10 years? where will you store your digital assets? Crypto exchange is purely for speculation. Smartphone? There is only an amount for daily payments. Cold wallet – yes! And it is safer to change tokens from hand to hand, like DEX.

My mission is to convey to people the above thought. Keep your digital assets with you!

I think this is a trend, and the main task of a trader or investor is to find a trend and move with it..

– Give some advice to our readers. Where to start a trader’s path, what should be done first, and what then? What are the difficulties and risks?

E.L .: To get started, study all the available information on the Internet. Take your time to make deals.
The more experience I have, the fewer trades I make. Risk management is the most important thing
Trading is not a sprint, it is a marathon!

– By the way, if we talk about risks, then how to minimize or avoid them on a dynamic crypto market.

E.L .: It doesn’t end on the crypto market, diversify or die. Risk is part of the game.
I’ve written a lot on my tradingview page about risk management.

– Which coins are worth investing in until the end of 2020 and which ones are worth investing in 2021?

E.L .: The best investment of 2020 -2021 is your own education. And if we talk about promising projects, then investing in BTC, XRP, ETH, XLM, LINK, CAVO and NYZO.

Find out what will happen to cryptocurrency in 2020 and 2021 from our review.

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