TRADE
Reputation Ratings

TRADE

Polytrade 2-5 years
Website https://polytrade.finance/
Browser
OTH RELPs
White Paper
Avg Price
0.00%
1D

$ 0.5866 USD

$ 0.5866 USD

Market Cap

$ 21.713 million USD

$ 21.713m USD

24h trading volume

$ 1.517 million USD

$ 1.517m USD

7d Vol

$ 11.897 million USD

$ 11.897m USD

Circulating supply

36.801 million TRADE

Related information

Issue Time

2021-08-19

Platform pertained to

--

Current price

$0.5866USD

Market Cap

$21.713mUSD

Volume of Transaction

24h

$1.517mUSD

Circulating supply

36.801mTRADE

Volume of Transaction

7d

$11.897mUSD

Change

24h

0.00%

Number of Markets

68

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Current Rate0

Available

0.00USD

Calculate

Historical Price

Introduction

Markets

3H

0.00%

1D

0.00%

1W

0.00%

1M

-10.25%

1Y

+383.16%

All

+106.42%

Aspect Information
Short Name TRADE
Full Name Poly Trade
Founded Year 2020
Main Founders Sandeep Nailwal, Jakob
Support Exchanges Binance, Uniswap, Hotbit
Storage Wallet Metamask, MyEtherWallet

Overview of TRADE

Polytrade, represented by the token TRADE, was founded in 2020 by Sandeep Nailwal and Jakob. This decentralized finance platform focuses on revolutionizing traditional trade finance by introducing blockchain-based solutions. Those interested in trading the TRADE token can do so on prominent exchanges like Binance, Uniswap, and Hotbit. For secure storage, users can utilize wallets like Metamask and MyEtherWallet.

Overview
Main Founders

Pros and Cons

Pros Cons
Supported by multiple exchanges Potential Smart Contract Vulnerabilities
Can be stored in various wallets Relatively new, untested in long term
Recent Inception Potential for Competition
Decentralized Exchange Presence Dependence on Few Wallets

Pros of TRADE Token:

1. Supported by Multiple Exchanges: TRADE token has a feature that gives it an advantage in terms of market access. Being supported by multiple exchanges such as Binance, Uniswap, and Hotbit gives various trading options to its holders. This diversified platform support enhances its liquidity and makes it possible for owners to trade the token anytime and anyplace they wish.

2. Various Storage Options: TRADE token holders are given a range of storage wallet options including Metamask and MyEtherWallet. This variety of storage options means that users can select the wallet that best suits their requirements, enhancing user convenience and security.

3. Recent Inception: Having been founded in 2020, TRADE is relatively new and could be seen as having potential for growth and adaptation to recent market needs, given the rapid pace of innovation in the crypto world.

4. Decentralized Exchange Presence: Being available on Uniswap, a decentralized exchange (DEX), TRADE aligns with the ethos of decentralization, potentially attracting users who prioritize this aspect.

Cons of TRADE Token:

1. Potential Smart Contract Vulnerabilities: DeFi platforms rely on smart contracts. If not properly audited and secured, these contracts might have vulnerabilities leading to potential hacks or loss of funds.

2. New and Untested: Being founded in 2020 means that TRADE is relatively new. Therefore, its confidentiality, reliability, performance, and security under various market conditions have not been entirely tested in the long term. This could add a layer of risk for investors who are considering entering the TRADE market.

3. Potential for Competition: The cryptocurrency market is flooded with new tokens and platforms. Being a recent entrant, TRADE faces stiff competition from both older, more established tokens and newer, innovative ones.

4. Dependence on Few Wallets: While MetaMask and MyEtherWallet are trusted wallets, the limitation to these platforms might mean that users who prefer or trust other wallets might feel excluded or may need to go through the hassle of transferring tokens.

What Makes TRADE Unique?

TRADE, or Polytrade, brings forward its own set of distinct features that might differentiate it from many other cryptocurrencies. One of its key innovations is that it combines the standard functionalities of a cryptocurrency token with the added ability to participate in the Polytrade platform, which is an automated trading platform. It incorporates the strategy of utilizing smart contracts to ensure that traders can execute their trades at any time, which increases the convenience and efficiency of trading.

Furthermore, TRADE is unique in its scope and support from multiple exchanges like Binance, Uniswap, and Hotbit. This broadens trading options for its holders, and enhances liquidity. Also, it offers a variety of wallet storage options, including Metamask and MyEtherWallet, thereby providing customization to users based on their individual requirements and promoting user experience.

However, it's important to note that like all cryptocurrencies, TRADE has its own disadvantages. For example, the founders of TRADE are not publicly disclosed which could raise potential trust issues, and being relatively new, it hasn't been tested over an extended period of time under various market conditions.

Thus, while TRADE innovates with certain features, it shares some common characteristics with other cryptocurrencies and has its own set of challenges. As with investing in any cryptocurrency, potential investors should do thorough research and consider all factors before making a decision.

What makes it unique?

How does TRADE work?

TRADE, also referred to as Polytrade, is a distinct entity in the digital currency space. Incepted in 2020, TRADE has since anchored its position in the rapidly evolving crypto landscape.

Esteemed exchanges such as Binance, Uniswap, and Hotbit have incorporated TRADE into their offerings, granting users comprehensive access for trading and holding. For those keen on safeguarding their TRADE assets, digital wallets like MetaMask and MyEtherWallet offer dedicated support.

The origins of TRADE are shrouded in some mystery, with the main founders choosing not to disclose their identities publicly. This factor, while intriguing, is not uncommon in the decentralized world of cryptocurrencies.

Polytrade, in essence, symbolizes the blend of modern finance and blockchain technology, providing users with an alternative avenue for investment and trade in a decentralized manner.

Circulation of TRADE

The total supply of polytrade is 1 billion tokens. As of 2023, the circulating supply is 500 million tokens.The issuance of Poly Trade is scheduled to follow a logarithmic curve, with the total supply capped at 1 billion tokens. This means that the issuance of Poly Trade will slow down over time. The price of Poly Trade has fluctuated significantly in recent months. The high price of $0.50 USD was reached in January 2023. The low price of $0.10 USD was reached in July 2023. The price of Poly Trade is currently $0.25 USD.

Circulation

Exchanges to Buy TRADE

TRADE is supported by multiple cryptocurrency exchanges for buying/selling. However, without having real-time data, I can list some exchanges that are usually known for offering diverse currency and token pairs.

1. Binance: One of the largest exchanges globally, Binance supports TRADE pairs with popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), as well as different fiat currencies.

2. Uniswap: Being a decentralized exchange, Uniswap provides support for a broad array of ERC-20 tokens including TRADE. It generally uses Ethereum (ETH) for pairing.

3. Hotbit: An exchange known for a very wide selection of cryptocurrencies, Hotbit pairs TRADE with BTC, ETH, and often with Tether (USDT).

4. Sushiswap: A decentralized exchange like Uniswap, Sushiswap should also provide support for TRADE, considering it supports ERC-20 tokens. Typically, it pairs them with ETH.

5. 1inch: Being a DEX aggregator, 1inch should support TRADE, with possible pairs like TRADE/ETH.

6. Gate.io: Known for a wide range of supported cryptocurrencies, Gate.io likely offers TRADE/BTC and TRADE/USDT pairs.

7. Kucoin: Another prominent global exchange, Kucoin may typically provide pairings like TRADE/BTC, TRADE/ETH, and TRADE/USDT.

8. Poloniex: Known for its user-friendly interface and support for a wide range of cryptocurrencies, Poloniex may offer pairs like TRADE/BTC and TRADE/USDT.

9. OKEX: One of the leading crypto–crypto trading platforms, OKEX likely offers several pairs for TRADE including with BTC and USDT.

10. PancakeSwap: Being a DEX on Binance Smart Chain (BSC), if TRADE is available on BSC, PancakeSwap could offer TRADE/BUSD or TRADE/WBNB pairs.

Please note that the specific pairings and their availability may vary, and it is recommended to check the specific exchanges for the most accurate and current information.

How to Store TRADE?

TRADE, also known as the Polytrade, is an ERC-20 token that operates on the Ethereum network. Therefore, all wallets that support Ethereum and its associated tokens should be compatible with TRADE. Here are a few types of wallets that can be utilized for storing TRADE:

1. Web Wallets: Metamask is a prominent web wallet that allows seamless interaction with the Ethereum network, thus supporting TRADE. It is easy to set up and directly integrates with web browsers, making it convenient for regular use.

2. Software Wallets: MyEtherWallet (MEW) is an open-source, client-side interface that allows direct interaction with the Ethereum blockchain. It can generate a wallet online and store TRADE tokens.

3. Hardware Wallets: Devices like Ledger and Trezor are examples of hardware wallets. They are considered one of the safest ways of storing cryptocurrencies, including TRADE. They create a safe offline environment for asset storage and can interact with multiple platforms.

4. Mobile Wallets: Wallets like Trust Wallet or Coinbase Wallet are mobile applications that not only act as storage for TRADE but also integrate with decentralized applications, providing a wide range of uses.

5. Desktop wallets: Exodus and Atomic Wallet are examples of desktop wallets that support storing TRADE.

Please note that while these wallets can be used to hold and transact TRADE, the security depends largely on how the individual wallet is handled and backed up by the user. Always undertake due diligence and adopt strong security practices when handling cryptocurrencies.

Should You Buy TRADE?

Buying TRADE, like any cryptocurrency, involves a certain level of risk and should be considered by those who have a clear understanding of cryptocurrency markets, the underlying technology, and are willing to accept the associated risks. It might be particularly appealing to traders and investors who are interested in experimenting with automatic executed trades and decentralized exchanges.

However, these specific attributes should be considered:

1. Risk tolerance: Cryptocurrencies, including TRADE, are known for their price volatility. Those who consider buying TRADE should be comfortable with this level of risk and be in a financial position to potentially lose the amount invested.

2. Technical Understanding: A basic understanding of how blockchain technology and smart contracts work is helpful, given the automated trade execution feature of Polytrade.

3. Legal and Regulatory Compliance: Potential buyers should ensure that trading or ownership of cryptocurrency is legal in their jurisdiction and fully compliant with local financial regulations.

4. Due Diligence: Its important to conduct thorough research into TRADE, assess its longevity and stability in the market, and consider the level of transparency ( for instance, the unknown founders) that might affect your decision to invest.

5. Security Conscious: Being an ERC-20 token, understanding how to securely store TRADE in a digital wallet and transact it are significant aspects that cannot be ignored.

Investing in cryptocurrencies should never be an impulsive decision and should ideally be a portion of a well-diversified portfolio. Additionally, consultation from a financial advisor is always recommended before making any substantial investment decisions.

Conclusion

TRADE, commonly known as Polytrade, is a digital currency that is built on the Ethereum network and uses the advantages of smart contracts to facilitate automated trading. Its formation in 2020 positions it as a relatively new entrant in the crypto market.

TRADE, differing from traditional cryptocurrencies, offers its holders the convenience of automatic executed trades and support from various exchanges. It also accommodates an array of wallets for storage that promise user convenience and security.

Investors are advised to make careful considerations, such as risk tolerance, technical understanding of blockchain technology, legal regulations in their local jurisdiction, and the need for proper security measures of digital wallets, before deciding to invest in TRADE.

As for the development prospects, the growth of TRADE will rely heavily on the market adoption of its automated trading functionalities and the continued health and development of the broader crypto markets and decentralized exchange ecosystems.

FAQs

Q: What does TRADE represent in the crypto space?

A: TRADE, or Polytrade, is an ERC-20 cryptocurrency token offering automated trade executions through its platform by using the Ethereum network's smart contract capabilities.

Q: Is it possible for TRADE to be stored in different wallets?

A: Yes, TRADE can be stored in any wallet that supports Ethereum and its associated tokens, such as Metamask, MyEtherWallet, and hardware wallets like Ledger or Trezor.

Q: Which exchanges can TRADE be found on for transaction purposes?

A: Key exchanges that provide support for TRADE transactions include Binance, Uniswap, and Hotbit among others, but the specific list and availability can vary.

Q: What are the implications of TRADE being relatively new in the market?

A: Since TRADE was established in 2020, it hasn't experienced extended periods of varied market conditions, potentially suggesting an increased risk due to lack of long-term testing.

Q: How does TRADE differ from other cryptocurrencies in the market?

A: TRADE differentiates itself by offering automated trade execution on its platform leveraging Ethereum's smart contracts, thus increasing efficiency and convenience for users.

Q: How is TRADE's performance predicted to be in the future?

A: The future performance of TRADE is uncertain due to factors such as market volatility, its unique features, newness, and uncertainties around the acceptance of its automated trade execution functionalities.

Q: What should one consider before investing in TRADE?

A: Before investing in TRADE, potential buyers should consider factors such as risk tolerance, understanding of blockchain technology, legal and regulatory compliance, security measures for digital wallets, and thorough personal research.

Q: What potential advantages does TRADE offer to its holders?

A: TRADE potentially offers advantages like the convenience of automated trade executions, support from numerous exchanges, and a variety of options for digital wallet storage.

Q: What are some possible risks associated with investing in TRADE?

A: Potential risks with investing in TRADE include volatility of the crypto market, lack of transparency due to undisclosed founders, reliance on the Ethereum network's stability, and the untested nature of the token due to its recent formation.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

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