Young Platform updates the Smart Trades functionality to ensure a trading environment that is compliant with MiCA regulations.
The company has decided to modify the pairs in the Smart Trades functionality, migrating from the crypto-USDT pair to the crypto-USDC pair.
With this update, we aim to inform our users about the strategic decisions taken by Young Platform following the entry into force of European Regulation No. 2023/1114 of 31 May 2023 concerning Markets in Crypto-assets (MiCA), effective from 30 June 2024.
These decisions reflect the need to comply with the Italian government’s recent approval of the Legislative Decree of 25 June 2024. This decree aims to align the national regulatory framework with the provisions of the MiCA Regulation and ensure coordination with existing regulations in Italy, particularly the Consolidated Banking Act (TUB) and the Consolidated Finance Act (TUF).
8 July 2024: new Smart Trades strategies with Crypto-USDC pair
Starting on 8 July 2024, Young Platform will implement a significant change in the Smart Trades strategies offered to users, utilising the crypto-USDC pair. Therefore, from 8 July to 15 July, adding new funds to strategies already active or created during this timeframe will not be possible.
This strategic decision is to comply with the MiCA Regulation, which promotes security and transparency in the cryptocurrency sector.
USDC’s adoption as the reference stablecoin in the new Smart Trades strategies is motivated by its growing adoption and complete adherence to the regulatory requirements of the MiCA Regulation. USDC is widely recognised for its stability and regulatory compliance, making it an ideal choice for users seeking safety and reliability in their trading operations.
Young Platform has always placed great emphasis on compliance and protecting the interests of its users. This new implementation represents a further step forward in ensuring a secure, transparent, and compliant trading environment. Our platform continues to evolve to meet the needs of a constantly changing market, offering innovative and regulatory-compliant solutions.
15 July 2024: conversion of USDT to USDC in active Smart Trades
Starting from 15 July 2024, Young Platform will convert all USDT to USDC in Smart Trades strategies activated before 8 July 2024 for free. The user will not incur any fees for this conversion.
This initiative is part of our ongoing commitment to ensuring compliance with regulations and providing an efficient and advantageous service for users. The free conversion eliminates additional costs for the user, facilitating the transition to a compliant and consolidated stablecoin like USDC.
USDT, PAX Gold, and DAI will not be delisted
Young Platform does not plan to delist USDT, PAX Gold, and DAI until further notice. We are actively collaborating with the foundations of these stablecoins to support their compliance with the MiCA Regulation. By the end of July, we will provide updates on the availability of these currencies on our platform.
Moreover, we will closely monitor any regulatory updates or communications from the stablecoin issuers and promptly inform users of relevant news.
Conclusion
Young Platform remains firmly committed to ensuring a safe, compliant, and advantageous trading environment for all users. The new Smart Trades strategies with the crypto-USDC pair and the free conversion of USDT to USDC are concrete steps towards regulatory compliance and protecting users’ interests. We thank everyone for their understanding and cooperation during this transition phase.
Communication to Young Platform Users Regarding MiCA Regulation and USD Coin
Following our communication on June 29, we want to update you on the compliance of stablecoins on Young Platform concerning the MiCA Regulation.
USDC Stablecoin Compliance
We are pleased to inform you that the USDC stablecoin is now fully compliant with the MiCA Regulation. The USDC and EURC White Papers, available here, provide further details.
As of 1 July 2024, USDC will be issued as an EMT (Electronic Money Token) under Article 3 of the MiCA Regulation. USDC will remain available on the Young Platform without interruptions or modifications.
Official Website: Take a look at the Circle and USDC websites.
For all information requests and subpoenas from law enforcement, send an email to [email protected].
Updates on Other Stablecoins
Regarding the other token (USDT, PAX Gold, and DAI), we await official communications from their respective issuers about their compliance with MiCA. In the meantime, Young Platform has taken the following measures to ensure compliance with the new European regulation:
Continuous monitoring of official communications from the issuers.
Timely updates to users regarding any news on the compliance of the stablecoins.
We will keep you informed with a new communication shortly about the next steps regarding these stablecoins.
Thank you for your attention, and please stay tuned for further updates.
We are approaching a pivotal stage in the world of cryptocurrencies: the entry into force of European Regulation No. 2023/1114 of 31 May 2023 concerning Crypto-Asset Markets (MiCA). In particular, the first block of the relevant European legislation will come into force on 30 June, which will significantly impact stablecoins and the broader digital asset market across the European Economic Area (EEA). Specifically, under the MiCA Regulation, authorised stablecoins must meet stricter reserve requirements, governance, and transparency requirements. Furthermore, on 25 June 2024, the Italian government approved the Legislative Decree to align the national regulatory framework with the MiCA Regulation, aiming to ensure coordination with existing sector provisions in Italy (particularly with the TUB and TUF).
What changes for Users?
With the entry into force of the MiCA Regulation, Young Platform is working to ensure that all cryptocurrencies offered on our platform comply with the MiCA Regulation, implementing a series of measures to protect Users and create an even safer and regulated environment.
Stablecoin: The MiCA Regulation introduces new rules for Stablecoins, which must meet specific requirements to be offered to the public. For reasons better explained below, Young Platform is already working to comply with this new regulation. Still, no changes are planned to the offering of Stablecoins on our platform. We will continue monitoring regulatory developments and guidance from competent authorities and promptly inform Users of any updates.
Greater transparency (Articles 27, 29, and 40 MiCA): We will provide more detailed information on the cryptocurrencies offered, including associated risks and specific characteristics of each token. In particular, we will focus on Asset Reference Tokens (ART) and Electronic Money Tokens (EMT), for which MiCA establishes specific requirements (Articles 16 and 48 MiCA):
a) ART Tokens: According to Article 3(6) of MiCA, these are “a type of crypto-asset that is not an electronic money token and aims to maintain a stable value by referencing another value or right or a combination of the two, including one or more official currencies.” The MiCA Regulation requires platforms like Young Platform to obtain written consent from the issuer of the ART token before offering it to the public (Article 16 MiCA) and to comply with specific transparency and communication obligations (Articles 27, 29, and 40 MiCA).
b) EMT Tokens: According to Article 3(7) of MiCA, these are “a type of crypto-asset that aims to maintain a stable value by reference to the value of an official currency.” The MiCA Regulation establishes stricter requirements for EMT token issuers, which must be authorised as credit institutions or electronic money institutions (Article 48 MiCA) and must also publish a White Paper containing detailed project information (Article 51 MiCA). Platforms offering EMT tokens must also comply with specific rules on communication and marketing (Article 53 MiCA).
Clear communications (Articles 29 and 53 MiCA): Our communications will be even more transparent and informative, in line with MiCA requirements on marketing and advertising. We will provide all the necessary information to make informed decisions. In particular, regarding EMT tokens, our marketing communications will comply with MiCA’s specific provisions for this type of token.
Dedicated support: Our Customer Support Team is available to answer any questions or concerns you may have regarding MiCA and its implications.
What changes for Spot Trading services, purchasing Stablecoins with Fiat Currency, and Smart Trades?
Although the MiCA Regulation has introduced specific requirements, particularly for Asset-Referenced Tokens (ART) and Electronic Money Tokens (EMT), it does not provide a definitive and exhaustive list of which cryptocurrencies fall into these two categories.
This means that issuers themselves have not openly declared with certainty whether their Tokens should be considered EMT or not. Consequently, Young Platform is in the position of having to independently interpret the regulation and is awaiting definitive clarification from the relevant authorities.
To date, Young is doing its best to contact all Token issuers that may fall into the aforementioned categories, asking them whether they are working to comply with the new obligations for ART and EMT issuers. Due to the absence, as mentioned, of a precise classification of these types of Tokens and considering the various possible interpretations of the regulation, Young Platform has not made any changes to its Spot Trading service for Users or, for the same reasons, to the service of purchasing Stablecoins with Fiat Currency or the Smart Trades service. It should be noted that in the first week of July, we will send Users a new update regarding the classification of EMTs and ARTs, to provide the latest data on issuers who have decided to regularise their Tokens and to specify how these issuers intend to operate. Furthermore, the same communication will further clarify how Young Platform intends to manage Tokens not authorised under the MiCA Regulation.
Certainly, the Company will continue to monitor regulatory developments and guidance from competent authorities constantly, and we will promptly inform Users of any updates and/or changes to the service.
Finally, we invite you to consult the official MiCA summary prepared by public authorities, available at this link.
If you have any questions or doubts, please do not hesitate to contact our customer service. We are here to help you navigate this new regulatory landscape and make the most of the opportunities offered by the MiCA Regulation.
The update of the P&L (Profit and Loss) feature on Young Platform is designed to provide you with a clear and detailed view of your cryptocurrency portfolio’s performance. This article will explain all the features that make the P&L function an essential tool for monitoring and analysing your profits and losses.
What is the Profit and Loss feature?
The P&L feature is the barometer of your cryptocurrency portfolio. It intuitively displays the wallet’s overall performance, from realised gains to potential ones. This helps you make more informed decisions, setting orders based on data presented in simple pie charts, saving you time.
Profit and Loss is located within the Analytics section. Thanks to a convenient menu, you can quickly view data and charts by clicking icons. Let’s examine all the new sections.
Total yield is the core of the Profit and Loss feature. It shows you the total sum of your profits and losses in percentage and monetary terms (€). This function considers all value changes in your crypto, thus both realised and unrealised gains and losses.
By “unrealised”, we mean the counter value of the cryptocurrencies you own but have not yet converted into euros. Only when you sell them does that profit or loss become “realised”. The values shown here are net of fees.
If you have only deposited fiat without placing orders, the values reported here will be zero. However, if you have deposited crypto, profits or losses will be recorded as the price fluctuates.
The breakdown by categories, in the section immediately below, shows how your capital is distributed among different strategies: Spot, Moneyboxes, and Smart Trades. In this case, it is the total latent profit of your cryptos. At a glance, you know which strategy is yielding the best results.
Volume Analysis
Monitor your portfolio’s volumes by following deposits, withdrawals, and purchase, sale, and exchange orders. For complete control over your operations, you can select the month and transaction category you wish to view in the chart.
Crypto Allocation
The cryptocurrency distribution chart shows the percentage breakdown of your portfolio among the different cryptocurrenciesheld. Each chart segment represents a specific cryptocurrency, highlighting its proportion relative to the total portfolio. This lets you quickly see which cryptocurrencies make up the most significant part of your overall portfolio and evaluate whether to add or shift capital based on those generating a gain or a loss.
Transactions
Summarises the total transaction volumes. This summary is useful for evaluating a potential upgrade to a higher identity verification level or enrolling in a Club that offers fee discounts tailored to our needs.
Balance Distribution
The balance distribution chart, across different strategies, shows how your portfolio’s capital is allocated among various strategies. Each chart segment represents a specific strategy, highlighting its proportion relative to the total balance. This lets you quickly see which strategies constitute the most significant part of your portfolio, facilitating the analysis and management of diversification, risk, and returns associated with each strategy.
Portfolio Diversification
The chart shows the division of your capital among euros, cryptocurrencies, and stablecoins. Each chart segment represents one of these categories, highlighting their proportion relative to the total portfolio. Cryptocurrencies are subject to volatility and can vary significantly in value, while stablecoins tend to have a stable value as they are pegged to a fiat currency or a physical asset like gold.
Definitions and Examples
Focusing on some key terms is necessary to better understand actual profits and losses or whether the decisions made have proved successful generally.
Unrealised Gain
Unrealised gain (or loss) indicates the growth or decline in the value of the cryptocurrencies in the portfolio, calculated on the difference between the purchase or deposit price and their current value. If sold or converted, such gain (or loss) becomes “realised” net of fees.
Example:
You buy 0.5 BTC at 15,000 EUR (30,000 EUR per 1 BTC).
The current value of 0.5 BTC is 17,500 EUR (35,000 EUR per 1 BTC).
The total gain or loss generated by the portfolio through sales or conversion transactions is calculated based on the purchase and sale prices of the cryptocurrencies at the time of the operations. Transaction fees are included in the calculation as a loss.
Example:
You buy 0.5 BTC at 15,000 EUR (30,000 EUR per 1 BTC).
You sell 0.5 BTC at 17,500 EUR (35,000 EUR per 1 BTC).
The purchase price represents the actual cost of buying a cryptocurrency, including only those bought through Young Platform and not those deposited or withdrawn from/to external wallets.
Example:
You buy 0.4 BTC at 12,000 EUR (30,000 EUR per 1 BTC).
You have already deposited 0.3 BTC in your wallet at 9,600 EUR (32,000 EUR per 1 BTC) (this is not included in the purchase price calculation).
Purchase price considered only for BTC purchased on Young Platform = 30,000 EUR per 1 BTC.
Average Price
A LIFO (Last In, First Out) methodology calculates the average purchase price. It is assumed that the units sold or withdrawn are the last ones bought or deposited, with variations in the average price of the assets with each transaction.
Example:
Case 1: only purchases
You buy 0.3 BTC at 9,000 EUR (30,000 EUR per 1 BTC).
You buy 0.2 BTC at 7,000 EUR (35,000 EUR per 1 BTC).
Initial average price = (9,000 EUR + 7,000 EUR) ÷ 0.5 BTC = 32,000 EUR per 1 BTC.
Case 2: sale (LIFO method calculation)
You sell 0.3 BTC.
BTC sold at 35,000 EUR per 1 BTC (0.2 BTC = 7,000 EUR) and part at 30,000 EUR per BTC (0.1 BTC = 3,000 EUR).
The remaining average price after the sale = (9,000 EUR – 3,000 EUR) / 0.2 BTC = 30,000 EUR per BTC.
Case 3: new purchases
You buy 0.4 BTC at 16,000 EUR (40,000 EUR per BTC).
Updated average price = (6,000 EUR + 16,000 EUR) / 0.6 BTC = 36,667 EUR per BTC.
Case 4: subsequent sale
You sell 0.3 BTC.
BTC sold at 40,000 EUR per BTC (0.3 BTC = 12,000 EUR).
Remaining average price = (6,000 EUR + 4,000 EUR) / 0.3 BTC = 33,333 EUR per BTC.
Case 5: deposits and withdrawals
You deposit 0.3 BTC at 9,600 EUR (32,000 EUR per BTC).
Updated average price = (6,000 EUR + 9,600 EUR) / 0.6 BTC = 26,000 EUR per BTC.
You withdraw 0.3 BTC.
BTC withdrawn at 32,000 EUR per BTC (0.3 BTC = 9,600 EUR).
The remaining average price = (6,000 EUR) / 0.3 BTC = 20,000 EUR per BTC.
Conclusion
With the update of the Profit and Loss feature on Young Platform, monitoring and analysing the performance of your cryptocurrencies is simpler and more accessible. The interactive charts allow you to keep a clear and intuitive view of your gains and losses. Whether you are a beginner or an expert in the crypto world, this new feature will help you better manage your portfolio and make more informed decisions.
You can now purchase zkSync on Young Platform Pro! Everything you need to know zkSync is now available on Young Platform Pro and is ready to buy, hold, and sell.
We resume our listings with ZK, one of Ethereum’s most promising Layer 2 solutions and one of the most advanced projects in scalability.
zkSync: everything you need to know
zkSync is an Ethereum Layer 2 solution that enables users to execute transactions more quickly and cheaply. The Matter Labs team founded it in 2020, aiming to enhance scalability through Zero-Knowledge Rollup technology.
zk-rollups group transactions are executed on the network in batches and sent to the main blockchain in a compressed format. This maintains Ethereum’s security and decentralisation while reducing transaction costs. This technology was developed to solve major issues with the Ethereum network, which can often become slow and expensive when congested.
In just a few months since the launch of the leading network, zkSync Era, it has attracted many users and a significant amount of Total Value Locked (TVL). ZK, zkSync’s cryptocurrency, is the network’s governance token, allowing holders to participate in essential decisions for the protocol’s future.
zkSync was launched via an airdrop in June 2024, distributing 3.7 billion tokens to users who had used the protocol in the preceding months. From its launch, the zkSync network has hosted some of the most promising and popular decentralised applications (dapps) like Uniswap and Curve Finance, along with native DeFi platforms like Sync Swap and Holdstation.
As previously mentioned, this Ethereum Layer 2 is one of the most promising in the crypto world. Over the past years, it has raised nearly $500 million through various funding rounds. Venture capital firms investing in the project include Andreessen Horowitz (a16z), DragonFly Capital, ConsenSys, and Alchemy, some of the most prominent funds in the sector.
How to Use zkSync on Young Platform?
Here are all the features available for zkSync (ZK) on Young Platform Pro:
Purchase and sale with USDT.
Network deposit and withdrawal.
What are you waiting for? Access the Young Platform app or web version to purchase the cryptocurrency of this Ethereum Layer 2.
Attention! All CEX withdrawals for Zk Sync (ZK) are disabled until 12 p.m. UTC tomorrow, June 18, 2024.
Starting today, you can purchase a new crypto on Young Platform Pro: find out all the information about Bittensor (TAO)!
From now on, you can buy and sell Bittensor (TAO) on Young Platform! A blockchain protocol dedicated to artificial intelligence models. Deposits and withdrawals are not available for this cryptocurrency. For more information, read our Terms and Conditions.
Bittensor (TAO): what do you need to know?
Bittensor (TAO) aims to decentralize and democratize access to artificial intelligence. This protocol enables collaborative, decentralized AI models and thus aims to overcome the limitations of centralized ones. The active consensus mechanism on this network is managed by a Proof-of-Intelligence algorithm composed of nodes that evaluate each other’s contributions according to utility and quality standards.
How to use TAO on Young Platform Pro
Here are all the features available for Bittensor (TAO) on Young Platform Pro:
Buying and selling with USDT
What are you waiting for? Access the app or the web version of Young Platform to purchase this innovative cryptocurrency! Attention! Bittensor (TAO) can only be bought and sold but not withdrawn or deposited to and from Young Platform.
The first quarter of 2024 for the YNG token has been eventful. Let’s review what happened and what steps we should take next.
What Happened in the Last Quarter? What were the achievements in Q1 2024? How many tokens were issued, purchased, and sold, and what are the next steps? You can find a comprehensive overview in this report drafted in April 2024.
Young Platform Club Numbers for Q1 2024
YNG is the utility token of Young Platform and provides access to Clubs: subscription plans offering exclusive benefits to our biggest supporters.
As of now, the Clubs consist of 1,687 members divided as follows:
Bronze Club: 1,238 members
Silver Club: 199 members
Gold Club: 122 members
Platinum Club: 128 members
To join a Club, it is necessary to lock a certain amount of YNG on the Young Platform exchange. The number of members is crucial for analyzing the token distribution, especially as more people joining a Club reduces the selling pressure on YNG, leading to greater price stability.
Comparing these figures with the past, Q1 2024 has seen significant positive developments in terms of Club adoption on Young Platform. At the end of 2023, the numbers were:
Bronze Club: 1,011 members
Silver Club: 190 members
Gold Club: 121 members
Platinum Club: 115 members
Consequently, Club memberships have grown by 17%, with Platinum membership increasing by approximately 11%. This growth makes us optimistic about the future, especially with many new initiatives planned for our most loyal supporters in the coming months.
YNG Token Distribution
As of January, there were approximately 23.3 million YNG tokens in circulation. By April, this number had increased to about 23.5 million, a net increase of approximately 182,937 tokens or 0.8%.
These tokens were distributed through the Young Platform Step app in various ways:
39,379 through completing Quizzes, Challenges, and Up&Down (before the implementation of levels)
143,558 through completing Levels
The YNG token market is managed by an algorithm that defines the exchange rate based on two underlying liquidity pools, one in EUR and the other in YNG. Initially, these pools contained:
1 million Euros
4 million YNG
Considering sales and purchases of tokens in recent months, as of March 2024, the pools contained:
747,000 Euros
5.65 million YNG
This configuration results from purchases and sales made during the third quarter, summarized below along with the price trend:
YNG Issuance in 2023
What happened during the first quarter of 2024 from the perspective of tokenomics. The way the token is issued changed last year following the Step 3.0 update. Now that some historical data is available, let’s see how the introduction of XP has limited the inflation of YNG.
As evident from the graph, the latest Step update has significantly curtailed the distribution of YNG. The issuance of new tokens has decreased by 93%.
YNG Price
From a price action perspective, the first quarter of 2024 has been positive. The YNG token has reversed the downward trend that began in August 2023, surpassing the €0.14 level. In recent weeks, following a shakeup that affected the entire market, YNG experienced a slight correction and is currently at €0.125.
The last rally of the Young token was mainly driven by the growth in Club adoption, coinciding with the launch of the new Smart Trades feature. Discover how this influenced the developments in the following paragraphs.
Achievements in the First Quarter of 2024
During Q1 2024, we reached a significant number of goals and released many new features. This report is an excellent excuse to summarize the work done over the last three months. Let’s look in detail at the initiatives undertaken in 2024 to increase the appeal of our token.
Smart Trades
The milestone of this quarter was the Smart Trades trading feature. A set of trading indicators operates autonomously without human intervention, utilizing mathematical models and pre-programmed instructions.
This feature is particularly useful for reducing drawdowns in one’s portfolio during market crashes. Although we are in a bull market phase, the price of most cryptocurrencies does not only rise but is also subject to more or less violent shakes. This functionality, built to automatically detect market trend changes, can be a valuable ally in shielding from crashes or leveraging them to increase the balance of one or more cryptocurrencies.
Initially available only to members of the Young Platform Clubs, Smart Trades was later opened to all users. Moreover, the number of strategies that can be activated simultaneously is, and will always be, proportional to the Club membership level.
Smart Trades have attracted attention! This is clear if we analyze the latest price movement of the Young token (YNG) and the number of Club members. As previously mentioned, since the launch of the feature, Club memberships have grown by 17%, from 1,437 to 1,687.
Since joining the group of our biggest supporters requires owning and locking a different amount of Young tokens, the launch of the Smart Trades feature has obviously also influenced the price of YNG.
Given the market rebound, one of our main goals for the last quarter was to expand the range of tokens and cryptocurrencies available for purchase on our exchange as much as possible. In 2024, so far, the following have been listed on Young Platform:
THORChain (RUNE)
Aptos (APT)
Jupiter (JUP)
Internet Computer Protocol (ICP)
Stacks (STX)
Filecoin (FIL)
Tron (TRX)
Near (NEAR)
Sei (SEI)
Starknet (STRK)
Sui (SUI)
Dymension (DYM)
Injective (INJ)
Fetch ai (FET)
Immutable (IMX)
Flare (FLR)
To allow our users to expand their portfolios, some of these cryptocurrencies are purchasable and sellable in trade-only mode and cannot be deposited or withdrawn from our platform, as they are currently not supported by our custody provider. This temporary arrangement aims to accelerate the listing process on Young Platform and increase, consequently, our users’ satisfaction level, they will be able to withdraw and deposit the cryptocurrencies in question once our custody partner integrates them.
Over the coming months, we will continue to expand the token offering on Young Platform to allow our users to intercept, well in advance, the new market trends. If you would like to be able to purchase one or more specific cryptocurrencies on our exchange, you can suggest them through our Discord server!
Missions
Another activity that we have carried forward during the last quarter is the Missions. A feature designed to make trading on Young Platform increasingly engaging! Currently, taking action on our platform allows you to earn “gems,” which you can exchange in the shop for discounts on trading commissions.
We plan to expand the use cases of “gems” and thus offer increasingly more benefits to users who frequently use our exchange.
During the first quarter of 2024, we also updated our commission model, pursuing the goal of making Young Platform more competitive in the market and more attractive to traders and investors. To design the new fee model, we also listened to your opinion, through a survey extended to the entire Community.
In this sense, the main goal remains the one announced in the previous report: to start trading on decentralized exchanges (DEX)by the end of the first half of 2024. The operational plan for this activity is almost ready and will be presented to the company’s management in the coming weeks, to start work between the end of this quarter and the beginning of the next. The mission, in this sense, is to allow our users to explore the on-chain world without having to leave our ecosystem.
This vision is part of a broader evolutionary model that we have been pursuing since the very first day of our story: to guide the user by hand on the journey to discovering this incredible sector. From the very first approach with Young Platform Step and our educational content, through the purchase or sale of digital assets, to the exploration of the on-chain, and therefore decentralized, world.
In this sense, we are preparing a Live dedicated to our biggest supporters, the members of Club Platinum, to collect feedback and suggestions. If you are part of this group but are not yet in the dedicated Discord channel, join and check your emails, you should have received a form!
Young Platform Pro
In recent months, however, we have not neglected Young Platform Pro, our platform dedicated to crypto traders. The team has worked with the aim of introducing some fundamental improvements for those who intend to analyze the price of cryptocurrencies using a professional approach.
In this sense, we have, first of all, renewed our partnership with TradingView, the most used platform to analyze the charts of major assets, including cryptocurrencies. This means that on Young Platform Pro, our exchange dedicated to crypto traders, users have at their disposal all the most famous tools of this powerful, sophisticated, and complete platform; in particular, indicators, tools, sliders, and drawing tools.
The news for our exchange dedicated to traders does not end here. We are conducting a series of interviews to collect suggestions from the most active traders to make Young Platform Pro increasingly a protagonist within our ecosystem.
New Features Coming Up!
In the coming weeks, we expect many new features, some of which have already been anticipated in the previous points of this report. Discover the main ones in detail!
Taxes & Report: the new service for crypto declaration
The milestone for the second quarter of 2024 certainly concerns taxation, given that it is an aspect that we consider fundamental for every investor who wants to operate in compliance with current laws. These have changed frequently in recent years, and it is therefore not taken for granted to know the current situation or to stay updated on all the news.
For this reason, the Tax Report, a product that has been extremely well received by our community, will not only be re-proposed but improved. The goal of this initiative is to make the “Taxes & Report” service the only product necessary to correctly include cryptocurrencies within one’s tax declaration. This is because, in its final version, it will allow exporting all the essential data to compile the document in compliance with regulations, not only the activities carried out on the products of our ecosystem but also all transactions executed on-chain.
Currently, only for our Club members and with a 10% discount, is the presale of the new Tax Report open. This means that, for the next few weeks, only our most loyal supporters will be able to purchase the new Report usable only for transactions carried out on Young Platform and Young Platform Pro. Here are the discounts applied to each Club.
For members of the Bronze Club: 10%;
For the Silver Club: 20%;
For the Gold Club: 40%;
For the Platinum Club: 80%.
Until the end of the presale (Club discount + 10%):
For members of the Bronze Club: 20%;
For the Silver Club: 30%;
For the Gold Club: 50%;
For the Platinum Club: 90%.
If, however, you use other exchanges, wallets (for example Metamask), or third-party blockchains to manage your cryptocurrencies, we are developing a specific service for you. Thanks to a collaboration with an important Italian partner, it will be possible to connect external wallets in addition to that of Young Platform and import transactions carried out on various platforms. This will allow you to create a single PDF containing all the aggregated data necessary for the compilation of your tax declaration.
We therefore recommend that users who also use other crypto exchanges or wallets wait to purchase the Report, given that the one currently in pre-sale will only be usable for transactions carried out on Young Platform.
The aforementioned discounts for the Clubs refer only to the Tax Report dedicated to transactions carried out on Young Platform and not to the Report, due out in May, which will allow connecting external exchanges and wallets. This is because, as anticipated, we use an external partner to offer this service to our users.
In any case, the cost established by the provider we collaborate with is among the most competitive on the market, and Club members will be able to access other discounts currently being defined.
In the next quarter, we will also focus on the flagship product of the quarter that has just ended. The Smart Trades feature is still in an embryonic state and will see a series of improvements. First of all, the range of available indicators will be expanded, but not only that! We are evaluating the inclusion of more complex and articulated strategies, whose main purpose will be to allow users to increase the balance of users cryptocurrencies thanks to the opportunities that present themselves on the market.
Young Platform has renewed its partnership with TradingView, the platform that has revolutionised the way markets are analysed.
We are proud to announce that our partnership with TradingView, the most widely used platform for analysing the charts of major assets, including cryptocurrencies, has been renewed.
What does this mean in a nutshell? On Young Platform Pro, our dedicated crypto trader exchange, you have all the most popular tools of this powerful, sophisticated and comprehensive platform at your disposal. Indicators, tools, sliders and drawing tools, you have everything you need to fulfil your potential and become a better trader!
What, in short, is TradingView?
TradingView is the world’s most widely used technical market analysis platform. It is an essential resource for traders wishing to consult charts and carry out in-depth analysis to find the right entry and exit points for a position.
TradingView has conquered the market thanks to two key features, especially when dealing with a discipline as complex as trading: ease of use and customizability.
In this sense, it is the perfect tool for novice traders who want to follow the price of a particular asset, such as Bitcoin. It is also perfect for experienced traders who need professional tools, which the platform itself provides.
TradingView and Young Platform: a trading experience without limits
Another great strength of TradingView concerns its ability to adapt to trading platforms and exchanges, in the case of the crypto world.
Thanks to this feature, and the resulting collaboration between Young Platform and Trading View, you will find all the indicators and tools you need for in-depth analysis on our exchange Pro. In other words, you can study the charts in one virtual space, finding your setups every time you log in.
You can plot trendlines or use an exponential moving average, for example, to find the perfect time to buy your favourite crypto. No matter how long this scenario takes to play out, once you log in, you will find everything as you left it.
Here are, in detail, the main advantages of integrating TradingView on Young Platform Pro:
Enhanced crypto charts: use the many trading indicators at your disposal to perform your technical analysis;
All your tools in one place: draw lines or geometric figures, draw, colour certain sections and write your notes directly on the chart;
Your drawings and analyses remain there, where you left them;
You can view all your open orders directly on the chart and keep track of your trading strategies.
Now that you know how the collaboration between Young Platform and TradingView works and what benefits it brings, you just have to start trading in a, truly, professional manner. Keep following our blog so you don’t miss upcoming updates to Young Platform Pro to test the indicators, drawing tools and tools by TradingView.
THORChain (RUNE), one of the most successful DeFi projects regarding blockchain interoperability, has officially been listed on Young Platform and Young Platform Pro. This exciting development means that users can now easily purchase, store, and sell THORChain (RUNE).
THORChain: What You Should Know
THORChain (RUNE) was developed to enable the exchange of cryptocurrencies from different blockchains, which are often inherently incompatible. This has led to the creation of THORSwap, a decentralised exchange (DEX) with an Automated Market Maker (AMM), as the flagship product of this infrastructure.
At the heart of this protocol is the native token, RUNE. It is essential for conducting exchanges as it supports the payment of transaction fees and forms the primary component of liquidity pools.
Furthermore, holding RUNE allows individuals to participate in the decision-making processes regarding the future of THORChain, positioning it at the centre of its governance mechanism.
How to Use THORChain on Young Platform?
Young Platform and Young Platform Pro offer several features for THORChain (RUNE), including:
Embark on your journey with THORChain (RUNE) on Young Platform today. Discover DeFi’s endless possibilities and take part in the future of finance. Join us now and start exploring the dynamic world of THORChain on Young Platform.
Warning! Rune can only be bought and sold but not withdrawn or deposited by and on Young Platform. For more information, please read our Terms and Conditions.
You can now buy three new cryptos on Young Platform: learn all about Aptos (APT), Jupiter (JUP), and Internet Computer Protocol (ICP)!
From now on, you can buy and sell APT, JUP and ICP on Young Platform! Deposits and withdrawals are not available for these cryptocurrencies. For more information, please read our Terms and Conditions.
Find out how these blockchain projects work to see if they are for you!
What do you need to know about Aptos (APT), Jupiter (JUP), and Internet Computer Protocol (ICP)?
Aptos is a Layer 1 blockchain that uses a Proof-of-Stake consensus algorithm to validate transactions on its network. This network is programmed in Move, a language for writing smart contracts, developed by Meta (formerly Facebook) in 2019. The project’s main aim is to enable the creation of user-friendly decentralised applications that can be used even by those unfamiliar with the technologies involved.
On the other hand, Jupiter is a fledgling decentralised exchange native to Solana that aims to provide traders with an unprecedented DeFi experience. On Jupiter, one can easily place different types of orders and trade cryptocurrencies and derivative contracts. You can, for example, set up limit orders executed when a token reaches a predetermined price or create your automated dollar cost averaging (DCA) or recurring purchase strategy.
Finally, Internet Computer Protocol (ICP) calls itself the ‘global computer’ since it connects a network of dedicated devices that, in effect, constitute a decentralised ecosystem. It is, to all intents and purposes, a Layer 1 blockchain designed for less experienced users that aims to replace Web2 infrastructures thanks to its decentralised data storage mechanism.
How to use APT, JUP and ICP on Young Platform
Here are all the features available for Aptos (APT), Jupiter (JUP) and Internet Computer Protocol (ICP) on Young Platform and Young Platform Pro:
Buying and selling with EUR
Recurring purchase
Creating a Single Coin Moneybox or Bespoke Bundly Moneybox
