As you may know if you have red any of my previous articles, I know absolutely nothing about trading. I'm basically the John Snow of Trading.
That's why I thought it was a good idea to start approaching trading with something very simple, like Morpher. I subscribed via referral code and that made me earn 100 MPH token for free, current value would be around 2.50$ and started playing with that 100 MPH. Oh yes, I'm taking it very slowly ;)
Morpher was founded in 2018 in Austria and it's trading platform that aims to make global financial markets accessible to everyone. It's built on Ethereum Blockchain and enables users trade 24 x 7 without the need for a counter party thanks to his native token called MPH.
The idea is quite brilliant: eliminate the middleman (brokers, exchanges), replacing it with a protocol on the Ethereum blockchain. This allow users to actually operate on different markets (Stock, Crypto, Commodities, Index, etc...) without actually buying anything.
The token MPH can be staked on the price development of a market, (e.g. the Apple stock). If the market develops as predicted, the protocol mints new token proportionally and adds them to the user’s stake. If a prediction is incorrect, staked token are burned proportionally.
The protocol replicates the economics of trading any market on the blockchain, without actually trading the underlying stock, commodity, or currency.
If you want to know more here's a link to the whitepaper.
To be able to trade you'll just need to create an account and connect your MetaMask Wallet. You'll then operate on a custom sidechain, which allows you to avoid gas fee for every trade which are super high right now on Ethereum Blockchain. Basically you'll just need to pay gas fee when you're cashing out and selling your MPH. This can be done by swapping MPH for Ethereum on Uniswap.
Again, I'm not into trading really. I decided to go and try what I knew best, which are Cryptos. And it turned out to work pretty well.
I putted my 100 MPH, which, again, were collected for free, on Ethereum with a leverage of 10x and forgot about it (if I could turn back time, I would choose a much higher leverage).
Back then Ethereum was priced around 350$. If have followed the latest news, you'll know it is a little bit more expensive right now.
Since I forgot about it I was able to let the "mooning season" work for me and it turned out my 100 MPH are now almost 2000 MPH, valued around 100$.
Not bad at all considering they were for free. Since gas fee are incredible right now I'm not cashing out, I'll let my MPH work for me and not care at all. (which I guess it reflects my whole strategy when talking about cryptos)
If you're interested and you want give Morpher a try please consider using my referral link here
This article was originally posted on my blog on Publish0x
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