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Buy-and-Hold: what it is and how it works

buy-and-hold

Buy and Hold is a widely used long-term approach. It is based on the belief that, despite market volatility, the value of cryptocurrencies will tend to increase in the long run. Think, for example, of someone who bought Bitcoin five years ago and has yet to sell it, hoping for further appreciation.

Buy and Hold: General Considerations 

Buy and Hold is a particularly suitable approach for beginners because it does not require excessive analysis skills or in-depth knowledge of market dynamics. 

On Young Platform, we have developed a feature to use this approach: Moneyboxes. To be able to activate them, these are the elements you need to bring with you: 

  • a lot of patience
  • a budget to be allocated on a weekly or monthly basis
  • a basic grounding in the options available

For this last point, please refer to the end of the article.

Discover it on Young Platform

Why choose the buy-and-hold approach

Each approach has peculiarities that, aligned to the specific needs of each, can turn into significant advantages. Let us take a closer look at the conditions under which Buy and Hold can be particularly suitable:

  • when one has little time or knowledge in the field
  • when you can set aside a budget regularly (the minimum is 20€ in the case of Young Platform operations) 
  • one has an anxious, emotional or high-stress personality 
  • one is not too familiar with the use of applications or web platforms
  • you do not want to achieve goals in the immediate term, but you are thinking of achieving results in the long term
  • one does not know the charts well and finds it hard to understand what is the best price to buy and when is the best time to buy

Advantages of the Buy and Hold Approach

Less emotional impact 

One of the most challenging aspects of buying cryptocurrencies is managing emotions. Market volatility can often lead to hasty decisions based on panic or euphoria. Buy and Hold reduces this emotional stress, as the user does not have to worry about daily market fluctuations.

Long-term benefit

Historically, many cryptocurrencies have shown a long-term appreciation trend. People who bought Bitcoin or Ethereum in their early years and held the position have often seen strong results. Of course, we know that ‘what has been‘ is no guarantee of ‘what will be’. However, looking at a chart that photographs the performance of a cryptocurrency from its inception to the present can help us understand whether a long-term approach has the best chance. This means the answer is ‘yes’ for one cryptocurrency and ‘no’ for another.

Simplicity of management

Unlike active trading, which requires constant attention and analysis of the market, the buy-and-hold approach is relatively simple to manage. Once the repetitiveness of buying is set, the user only has to monitor the market occasionally.

Reducing transaction costs 

Each transaction may involve costs, such as buying and selling commissions. The buy-and-hold approach minimises the number of transactions, thus reducing the associated costs.

Flexibility of market entry

Systematic hoarding, also known as Dollar Cost Averaging, allows users to enter the market at an average cost, reducing the risk of buying large amounts of cryptocurrency at an unfavourable time.

More excellent protection against short-term volatility 

By holding cryptocurrencies for an extended period, users are less exposed to the inevitable short-term market fluctuations, which can often be drastic.

How to apply this approach 

Young Platform has developed an ad hoc section for this type of user: Moneyboxes. 

Each Moneybox comes with a powerful tool: recurring purchases. 

The recurring purchase is an automatic order executed according to our chosen settings. 

There are three parameters to be entered:

  1. The budget
  2. Frequency
  3. The cryptocurrencies we are interested in

Choice of budget

The easiest way to decide on a budget is, for example, to analyse our expenses monthly. How much can we put aside? And how much of this budget do we want to convert into cryptocurrencies? 

All that remains now is to decide how to load the budget into our account: by credit card, debit card, prepaid card or bank transfer. Follow the deposit guide for a complete tutorial on the procedure. 

NB. When setting the recurrence of the deposit, make it a few days earlier than the one you set for the Moneybox. 

Frequency

Once the budget has been established, all that remains is to ‘unpack’ it into several purchases. The choice can fall on:

  • 1 purchase per month
  • 1 purchase every fortnight
  • 1 purchase per week

The choice will also depend on the size of the budget. For example, if it is 1,000€ per month, I may consider splitting it into several purchases so that the average purchase price is well spread over the 30 days. 

Essential preparation on available options

Three types of Moneyboxes are available on the Young Platform. Each includes one or more cryptocurrencies, and knowing what we buy is essential. For an informed choice, it is crucial to learn more about the characteristics of each cryptocurrency, such as its history, market positioning and potential applications.

The Curated Bundle

These are Moneyboxes already diversified by market area:

Single Coin Moneybox

To purchase an individual cryptocurrency, simply select one from the menu. To explore the various projects, scroll down the Markets page of our site and, by clicking on a cryptocurrency’s name, read more about it. Before making any transactions, conducting thorough research and analysis is essential, assessing each cryptocurrency’s characteristics.

The Bespoke Bundle (2 to 5 crypto)

You can create a customised and diversified Moneybox using the’ Markets’ page to discover the various cryptocurrencies. This section lets you learn more about the available projects and their characteristics. However, conduct in-depth research on each cryptocurrency before including it in your Moneybox.

Young Platform does not provide tax, investment or financial services and advice. The information on this website is provided for informational purposes only. It is presented without regard to any specific individual’s objectives, risk appetite or financial circumstances and may only be suitable for some Users. Buying and selling cryptocurrencies involves risks, including total loss of capital. Users should always research, consult a qualified professional before deciding, and carefully assess their risk profile and loss tolerance.

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The new all-time high for Bitcoin!

Bitcoin all-time high

Bitcoin has reached a new all-time high, surpassing $71,000. What are the three leading causes?

Bitcoin has officially recorded a new all-time high (ATH). A few minutes ago, it hit the $71,627 level.

This term describes the maximum value Bitcoin touches or, in general, any asset. What has happened in recent weeks is anomalous. Bitcoin has never reached a new all-time high before halving during past cycles, coming in less than fifty days.

How is it possible that Bitcoin has now reached this new record high? Given that a year ago, its value was more than three times lower than it is today. Here are the three main reasons

Bitcoin’s historical high: the causes

Identifying all the causes of Bitcoin’s unexpected all-time high is a daunting challenge. While it is much easier to find the main ones, the question to build on to understand the economic context in which to place the crypto’s recent bullish rally is: Why did Bitcoin record a new all-time high? And more importantly, why did it reach this milestone before the next halving?

  1. The approval of spot ETFs

The first reason is apparent. From 11 January onwards, Bitcoin has entered the Olympus of assets. The approval of spot ETFs by the Securities and Exchange Commission (SEC) has incredibly boosted the crypto’s status, making it attractive even to those who have not delved into its technology. Most institutional investors, historically antagonistic to BTC, have re-evaluated it and finally understand its potential. 

However, if we analyse what has happened from an economic point of view, the situation is even more evident. Right now, there is an imbalance between supply and demand, which favours the former. Thanks to their ETFs, funds are buying vast amounts of Bitcoin daily, while issues remain stable and will halve with the halving of April.

  1. Halving 2024

The second reason relates to the event that all crypto enthusiasts have been waiting for. In past cycles, this has always preceded Bitcoin’s new all-time high, but this time, everything is different. How come? It’s impossible to say for sure, but what happened could be connected to the approval of ETFs.

Usually, halving was, for many, an ‘excuse’ to return to crypto after months in which most investors ignored it due to the bear market‘s bearish price movements. This time, however, in part, the interest has come early, attracted by significant American funds.

  1. A virtuous bear market

The third and final reason is related to the bear market. The strong growth that Bitcoin and the crypto world, in general, have experienced in the last period is also the result of the work done in the previous two years. You know, there is no better time to build new solutions or improve existing ones than when prices fall and the euphoria disappears.

Over the past few months, many technological innovations have been born (or improved) on Bitcoin. Some are more controversial and divisive, such as Ordinals and BRC 20 tokens; others, such as Layer 2, are universally considered necessary. The other ecosystems, e.g. Cosmos, Ethereum and Solana, have also renewed themselves, trying to improve above all from the point of view of ease of use. A historical weakness for this sector.

As mentioned, these are not all the causes contributing to Bitcoin reaching a new all-time high. How not to mention the considerable interest in artificial intelligence and the consequent rise in the share price of technology companies, e.g., Nvidia? Or the imminent end of quantitative tightening policies, and thus the likely cut in interest rates in the coming months. 

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FIL, STX, TRX arrive on Young Platform

STX, FIL and TRX available on Young Platform

You can now buy three new cryptos on Young Platform: find out all about Tron (TRX), Stacks (STX) and Filecoin (FIL)! 

Great news! You can purchase and trade TRX, STX, and FIL on the Young Platform. While you can deposit and withdraw TRX, you can only trade STX and FIL, as deposits and withdrawals are unavailable. For more information, please refer to our Terms and Conditions.

Find out how these profoundly different decentralised protocols work to decide if they are for you!

What do you need to know about Tron (TRX), Stacks (STX), and Filecoin (FIL)?

Tron (TRX) is a blockchain infrastructure that enables the development of smart contracts and the use of decentralised applications and NFT platforms. Its founder, known to most crypto enthusiasts, is the Chinese entrepreneur Justin Sun, who managed in 2017 to raise 70 million dollars through an ICO to support the project.

Stacks (STX) is a Layer 1 blockchain that enables smart contracts. This brings Ethereum’s universe of programmability to the Bitcoin blockchain. To achieve this, Stacks uses a unique consensus mechanism called Proof-of-Transfer. The mechanism requires continuous transfers of BTC to specific addresses predetermined by the network.

Filecoin is a distributed and dynamic cloud storage network that offers a powerful alternative to centralised services such as Amazon Web Services, Dropbox, iCloud, and Google Drive. The project aims to establish a decentralised and peer-to-peer cloud infrastructure.

How to use TRX, STX, FIL on Young Platform

Here are all the features available for Tron (TRX), Stacks (STX) and Filecoin (FIL) on Young Platform and Young Platform Pro:

  • Buying and selling with EUR
  • Recurring purchase
  • Creating a Single Currency or Customised Savings

Please note that you can only buy and sell Stacks (STX) and Filecoin (FIL) on the Young Platform, but you can’t deposit or withdraw them.

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Young Platform and Young Platform Pro Commissions Update

Young Platform Exchange Fees Update

Starting on 4 March 2024, we will introduce significant updates to our commission model to enhance our users’ trading experience. These changes will make Young Platform more competitive and attractive to traders and investors.

These updates were introduced following a survey extended to the entire community, whom we warmly thank for their suggestions and feedback. 

Recognising the sensitivity of this topic, we have adopted an approach centred on transparency and valuing direct benefits to our users. To completely understand these updates, please consult our detailed commission page of Exchange Base and Exchange Pro and review the Terms and Conditions.

Young Platform 

Commissions for Euro-Crypto exchanges

The update of commission rates on Euro-Crypto transactions aims to maximise the yield of cryptocurrency buying and selling transactions by moving to a hybrid model with fixed and variable commissions. 

Introducing a fixed and variable structure aims to enhance users with amounts over €100, who comprise the majority of our community.  

Therefore, the variable calculation on buying and selling transactions from Euro to Crypto and vice versa was integrated, making exchanges with more significant amounts more convenient. 

Commissions for Crypto-Crypto and Euro-YNG exchanges

The fees for conversion from one cryptocurrency to another (Crypto-Crypto) and for trading the Young Token (YNG) remain unchanged, as shown in the table below.

Money Boxes 

Your dedication to gradually growing your crypto portfolio is something we deeply admire. That is why we keep the fees for recurring piggy bank purchases unchanged, making regular savings worthwhile, even for small amounts.

Young Platform Pro 

We revolutionised our commission model for Young Platform Pro from a fixed fee structure (0.2%) to a fully variable one for maker-and-taker trades. This innovation is designed to meet the needs of advanced traders, offering more favourable conditions for those trading with significant volumes.

The determination of the commission rate is based on a 30-day assessment period, during which commissions are calculated according to the trading volumes realised. The calculation is performed every day at 00:00 UTC. This implies that the adjustment of fees always occurs concerning the volumes traded in the previous thirty days.

Same Club, same benefits!

Enjoy club discounts on Young Platform and Young Platform Pro: the exact discount percentages will be applied to the new commission model. 

Fee discounts are applied to all buy and sell orders. If these orders are executed on the Pro Platform, the discount is applied up to a maximum of €50,000 volume in the last 30 days. Standard buy and sell commissions will apply if the maximum is exceeded in this timeframe. These can be found on the Commissions and Prices page.

Unlocking Commission Discounts: More Ways to Save

Invite a Friend 

Our ‘Invite a Friend’ programme is an unmissable opportunity to benefit from commission discounts. Inviting friends to join our platform, you both get a 10€ discount applicable on purchases, sales and conversions.

Joining a Club 

Joining a club offers significant advantages on commissions and access to an exclusive package of discounts on additional services, allowing you to customise your experience in the crypto world according to your preferences.

N.B. fee discounts are applied to all buy and sell orders. If these orders are executed on the Pro Platform, the discount is applied up to a maximum of €50,000 volume in the last 30 days. Standard buy and sell commissions will apply if the maximum is exceeded in this timeframe. These can be found on the Commissions and Prices page.


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Stamp duty on cryptocurrencies 2024

Stamp duty on cryptocurrencies 2024

Following the new Budget Law 2023, stamp duty was introduced on Young Platform.

Young Platform has updated its Terms and Conditions, introducing new rules regarding stamp duty for its users. This update has been introduced in compliance with the Italian Budget Law 2023, particularly with circular number 30/E of the Agenzia delle Entrate having as its subject “Tax treatment of crypto-assets. Article 1, paragraphs 126 to 147, of Law No. 197 of 29 December 2022′.

As an ‘other financial operator’, Young Platform must charge stamp duty to its users for anti-money laundering regulations and tax monitoring obligations (Article 1(1) of DL 167/1990).

This tax is equal to 0.2 per cent of the value of the cryptocurrencies held by the user on 31 December of the taxable year. Let’s look at stamp duty, who is responsible for paying it, and how it can be paid.

1. Definition of Stamp Duty

Stamp duty is an indirect tax that applies to certain economic transactions as a sign of the taxpayer’s financial capacity. In practice, this tax affects transactions that indicate a specific economic availability, such as the transfer or consumption of goods and services and financial instruments. Until 2022, cryptocurrencies were exempt from this type of tax. However, with the introduction of Act No. 197 of 27 December 2022, the situation changed: now, those who own cryptocurrencies have to pay stamp duty.

2. Who is liable to pay Stamp Duty

Regardless of their tax residence, all cryptocurrency holders are now subject to the stamp duty obligation. This obligation applies irrespective of the exchange used to hold one’s cryptocurrencies.  

3. Calculation of the tax base

The taxable base for stamp duty is 0.2% of the value of cryptocurrency assets held at the end of each calendar year. It is, therefore, calculated by multiplying the value of cryptocurrencies held on 31 December of the relevant year by the 0.2% rate. If the computed tax is less than 1 euro, the applicable tax will still equal this amount (1 euro) under Article 3, paragraph 3 Presidential Decree 642/72. 

It is reported in section 3.7.3 of the Revenue Agency’s circular that explains how the tax value is calculated:

The tax base consists of the value corresponding to the value of the crypto-assets at the end of each calendar year, as recorded by the exchange platform where the purchase thereof was made. Should it not be possible to ascertain the value on the 31st of December of the reference year from the platform where the crypto-asset was originally purchased, such value may be ascertained from a similar platform where the same crypto-assets are tradeable or from specialised sites in the detection of their market values. In the absence of the aforementioned value, reference should be made to the purchase cost of the crypto-assets. If the crypto-assets are no longer held as of the date of the 31st of December, reference should be made to the value ascertained at the end of the holding period. As provided by paragraph 19 of article 19 of the decree law no. 201 of 2011, the tax is due in proportion to the days of holding and the share of ownership in the case of jointly held crypto assets.

4. How much do I have to pay for the tax?

The tax is calculated automatically by the platform. You can find the details under ‘Profile’ > ‘Payments and Gift Cards’ > ‘Stamp Duty’. 

5. By when must stamp duty be paid?

On Young Platform, the balance must be paid by 1 April of the year following the end of the tax period, i.e. by 1 April 2024 for the tax relating to 2023.

6. How is stamp duty paid?

In the specific case of Young Platform, the stamp duty will be automatically calculated and deducted from the user’s Euro Wallet as of 21/02/2024 against adequate liquidity to meet the relevant tax liability. 

Consequently, for all users who, as of 21 February 2024, did not have enough liquidity in the Euro Wallet of their Young Platform account, the charge will be made at the first useful transaction. It will be sufficient to deposit into your account via one of the following payment methods:

  • Credit, debit or prepaid card.
  • Bank transfer.
  • Converting cryptocurrencies into fiat currency.

7. Where can I find details of the tax payment?

In the Euro Wallet section, under ‘History’, there will be an entry ‘Stamp Duty’. By clicking on it, it will be possible to view the details of the transaction:

  • Transaction ID
  • Reasons under “Notes” 
  • Date of execution
  • Status

8. How often does one have to pay stamp duty? 

Stamp duty must be paid annually, due by April. The amount to be paid is based on the value of cryptocurrencies held on 31 December of the previous tax year.

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NEAR, SEI, STRK and SUI arrive on Young Platform

NEAR, SEI, STRK and SUI available on Young Platform

You can now buy four new cryptos on Young Platform: find out all about NEAR (NEAR), Sei (SEI), Starknet (STRK) and Sui (SUI) 

You can now buy and sell NEAR, SEI, STRK and SUI on Young Platform! Deposits and withdrawals are not available for Sei (SEI), Starknet (STRK) and Sui (SUI), while are available for NEAR (NEAR). For more information, please read our Terms and Conditions.

Find out how these innovative protocols work to decide if they are right for you!

NEAR (NEAR)

NEAR is an environmentally sustainable, scalable, fast and decentralised user-friendly Layer 

1 blockchain. This network, made secure by a Proof-of-Stake consensus mechanism, uses sharding. This means that its blocks are divided into smaller ‘chunks’ so that each validator node has to handle a smaller amount of data.

Sei (SEI)

Sei is a Layer 1 blockchain built on Cosmos that focuses on decentralised trading, NFTs and gaming. The protocol’s slogan, ‘The fastest Layer 1 for trading’, sums up the main peculiarities of this network: speed and scalability, which it achieves thanks to an innovative Proof-of-Stake ‘Twin-Turbo’ consensus mechanism.

Starknet (STRK) and what do you need to know?

Starknet is an Ethereum scalability solution using zero-knowledge rollup technology. In particular, this network uses zk-STARK cryptographic proofs to make the network competitive in terms of scalability, speed and security. These proofs group transactions in batches or ‘batches’, allowing them to occupy much less space and lower transaction fees.

Sui (SUI)

Finally, Sui is a fast and scalable Layer 1 blockchain made secure by the Proof-of-Stake consensus mechanism. To programme its smart contracts, developers use Move. This programming language was created by the same team responsible for developing Libra, the cryptocurrency Meta (formerly Facebook) designed that never saw the light of day. The consensus mechanism, consisting of the Narwhal, Bullshark and Tusk protocols, allows processing up to 120,000 transactions per second.

How to use NEAR, SEI, STRK and SUI on Young Platform

Here are all the features available for NEAR (NEAR), Sei (SEI), Starknet (STRK) and Sui (SUI) on Young Platform and Young Platform Pro:

  • Buying and selling with EUR
  • Recurring purchase
  • Creating a Single Currency or Customised Money Box

Warning. These cryptocurrencies can only be bought and sold but not withdrawn or deposited by and on Young Platform.

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INJ, DYM and FET arrive on Young Platform

You can now buy three new cryptos on Young Platform: find out all about Injective (INJ), Dymension (DYM) and Fetch.ai (FET)! 

Now you can trade INJ, DYM and FET on Young Platform, but deposits and withdrawals are not available. For more information, please refer to our Terms and Conditions.

Find out how these innovative protocols work to decide if they are right for you!

Injective (INJ), Dymension (DYM) and Fetch.ai (FET) what do you need to know?

Injective is a Layer 1 blockchain built on the Cosmos ecosystem specifically for decentralised finance platforms. The Injective network allows for a high volume of transactions per second at meager fees, and sometimes even without any fees, thanks to the relay service offered by the API nodes in this network.

Fetch is a platform that combines two cutting-edge technologies – artificial intelligence (AI) and blockchain. The platform’s key product is Autonomous Economic Agents (AEAs), which are capable of programming themselves to fulfil specific needs. Like AI chatbots such as Chat GPT, AEAs analyse real-time data and context and act accordingly to achieve a goal.

Introducing Dymension, a new Layer 1 blockchain created on Cosmos. Its primary goal is to become a leading modular ecosystem for developing decentralised applications. The future RollApps that will be integrated into Dymension are neither dapp nor real blockchains. They are unique in that they are exceptionally easy to develop. It’s worth noting that RollApps should not be confused with Rollups, which are Layer 2 scalability solutions.

How to use INJ, DYM and FET on Young Platform

Here are all the features available for Injective (INJ), Dymension (DYM) and Fetch.ai (FET) on Young Platform and Young Platform Pro:

  • Buying and selling with EUR
  • Recurring purchase
  • Creating a Single Currency or Customised Money Box

Warning: These cryptocurrencies can only be traded on Young Platform, but cannot be deposited or withdrawn.

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Flare airdrop (FLR) arrives for Young Platform users

You can now buy Flare (FLR) on Young Platform. If you were eligible for its airdrop, check your wallet!

You can now buy, sell and store FLRs on Young Platform! The good news, however, does not end there. 

An airdrop is also coming/coming for users who held Ripple (XRP) in December 2020. Here’s what Flare (FLR) is, everything you need to know about the free distribution of this token and how it fits in the context of the benefits provided to our Club members.

Flare: all you need to know

Flare is a Layer 1 Proof-of-Stake blockchain that aims at interoperability, a key component for projects that intend to communicate with decentralised applications (dapp) and protocols built on other blockchains. 

Its primary use case has to do with this very feature. As stated in its whitepaper, published in August 2020, the mission was to enable the development of smart contracts on networks that needed to be prepared to receive them.

Flare’s blockchain, which before the release of the second version was called Spark, has always been closely linked to Ripple and, in particular, to the XRP Ledger, as evidenced by the airdrop dedicated to cryptocurrency holders of the same name.

How to use FLR on Young Platform

Here are all the features available for Flare(FLR) on Young Platform and Young Platform Pro:

  • Buying and selling with EUR
  • Recurring purchase
  • Creating a Single Currency or Customised Money Box

FLR’s airdrop: who gets it?

Young will distribute the Flare token (FLR) to all users who own Ripple (XRP) in their wallet on 12 December 2020, 00:00 UTC. The number of Spark tokens that each user will receive depends on the amount of XRP held and will be calculated according to the following formula:

User A = Amount of XRP held by User A at the time of airdrop / Total XRP held by Young at the time of airdrop * Total FLR received by Young for the Airdrop.

Finally, Club members will be pleased to learn that the ‘airdrop reward’ advantage applies to this free distribution of tokens. This means that these users will receive progressively more tokens depending on which Club they belong to:

  • Club Bronze +10%;
  • Club Silver +15%;
  • Club Gold +20%;
  • Club Platinum +25%.
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YNG Token: 2023 Recap

Token YNG: 2023 Report

The fourth-quarter report of the YNG token – summarising the year. What has unfolded in this eventful 2023, and what are the next steps?

What transpired in the last quarter? What were the achievements throughout 2023? How many tokens were issued, bought, and sold, and what are the forthcoming actions? A complete overview of the year just ended is available in this report, drafted in January 2024.

Young Platform Club Numbers for Q4 2023

YNG is Young Platform’s utility token, providing access to the Clubs: subscription plans with exclusive benefits for our major supporters.

Currently, the Clubs consist of 1437 members, divided into:

  • 1011 in the Bronze Club;
  • 190 in the Silver Club;
  • 121 in the Gold Club;
  • 115 in the Platinum Club.

A certain quantity of YNG must be locked on Young Platform’s exchange to join a Club. The number of subscribed members is vital for token distribution analysis, especially since more members mean less selling pressure on YNG. The primary consequence? Greater price stability for YNG. Compared to the last report, Club membership has increased by 2.6%, and Platinum members by 41%.

Comparing these figures with last year’s, it’s evident that 2023 was a positive year for the adoption of Young Platform Clubs. At the end of 2022, there were 1,214 members, divided as follows:

  • 903 in the Bronze Club;
  • 174 in the Silver Club,
  • 92 in the Gold Club,
  • 45 in the Platinum Club.

Therefore, Club membership grew by 18%, and Platinum members by approximately 155%. This growth makes us optimistic about the future, particularly with many new initiatives planned for our loyal supporters in the coming months.

YNG Token Distribution

The number of YNG in circulation at the end of September was about 23.1 million. At the beginning of January, the circulating supply is approximately 23.3 million, indicating a net increase of about 166,000 tokens, or 0.9%.

These tokens were distributed through the Young Platform Step app in various ways:

  • 49,009 through completing Quizzes, Challenges, and Up&Down (before level implementation);
  • 117,341 through completing Levels.

The YNG token market is managed by an algorithm that defines the exchange rate using two underlying liquidity pools, EUR and YNG. At launch in May 2022, these pools contained:

  • 1M Euros
  • 4M YNG

Considering token sales and purchases over recent months, as of January 2023, the pools contain:

  • 750K Euros
  • 5.61M YNG

This configuration results from purchases and sales during the third quarter, summarised below along with the price trend:

Token YNG: 2023 Report

YNG Issuances in 2023

This is the conclusive report of 2023, making it the right time to summarise the year in terms of tokenomics. The way the token is issued changed after the Step 3.0 update. How has the introduction of XP impacted limiting YNG inflation?

Token YNG: 2023 Report

As the graph shows, thanks to the latest Step update, we’ve significantly limited YNG distribution. The issuance of new tokens has been reduced by 93%.

YNG Price

From a price action perspective, 2023 was a transitional year. The bearish movement affecting our token since November 2022 halted at the €0.1 level reached in February.

Subsequently, YNG, supported by the Buyback initiative, experienced an 86% bullish rally, pushing the price to a high of €0.16 by the end of August 2023. It currently fluctuates between €0.12 and €0.14.

Achievements in 2023

During 2023, we achieved numerous goals and released several new features. This report is an excellent opportunity to summarise all the work done in the last few months. Let’s detail the initiatives undertaken in 2023 to expand the appeal of our YNG token and those related to the Young Platform ecosystem in general.

YNG Token

  • Buyback: The Buyback operations were completed. We purchased €62,000 in tokens through spot transactions and supported the price with limit orders.
  • Vouchers and Benefits for Clubs: In 2023, many incredible benefits for the clubs in the form of vouchers arrived: We Road and NordVPN. In 2024, we’ll continue collaborating with other brands to offer our supporters more benefits.
  • YNG Token Listing: We are still considering listing the Young (YNG) token on other exchanges. Our main goal is to initiate trading on DEXs by the end of the first half of 2024.
  • Dust: In recent months, a feature was released that allows converting small crypto balances into Young (YNG) tokens. Dust lets you revitalise unused cryptocurrency cents.
  • Token Tracking (CoinMarketCap and CoinGecko): Our weekly reminders to CoinMarketCap and CoinGecko have yet to produce results beyond those achieved in the second quarter of 2022. Communication with CoinMarketCap, through which we provided all requested data, continued for several months but ceased when they asked for money to expedite the process.

We are considering proceeding in this direction once the token is tradable on the decentralised market. In doing so, we intend to maximise interest around the event. Currently, we are listed as an exchange on CoinMarketCap, while the YNG token appears on CoinGecko, although trading volumes still need to be available for both pages.

Young Platform Ecosystem

  • Tax Report. In May, we introduced one of our most successful features: the “Tax Report,” a tool simplifying crypto declarations, offering a downloadable PDF for tax declarations. Developed in collaboration with Taxtris, it’s the first service provided by an Italian exchange. Remember, the Tax Report is discounted for Silver and Gold Club members and accessible for Platinum. 
  • Listing on Young Platform: With the market’s resurgence in 2023, we expanded the range of cryptocurrencies available on our exchange. We started with Arbitrum, Ethereum’s most-used Layer 2, then proceeded with Optimism, dYdX, GMX, Cosmos, Lido DAO, Render, and Celestia. In 2024, we’ll continue to broaden our token offerings on Young Platform to allow our users to catch new market trends.
  • Multi Network: We enabled multi-network deposits and withdrawals to meet the needs of users who intend to use Young Platform as a “launchpad” to access DeFi decentralised applications. It’s now possible to deposit and withdraw Ethereum, USDT, and USDC, even through the Arbitrum, Optimism, and BSC networks. This way, you can maximise the opportunities Web3 offers with shallow deposit and withdrawal costs.
  • Moneybox 2.0: This update expanded the range of cryptocurrencies available for recurring purchases in May. We introduced the Thematic Moneybox (composed of ready-made cryptocurrency mixes) and the Customized one, allowing you to make recurring purchases of your preferred cryptocurrencies (from 2 to 5).
  • Services for Businesses: Services for businesses that see crypto as a tool to make their business competitive and scalable have also arrived. In recent years, more and more companies and institutions have started recognising cryptocurrencies as a fundamental tool for a complete digital transition.
  • Step 3.0: Step has also been wholly revolutionised after the latest updates. Initially a pedometer app, it’s now Italy’s most-used “Cryptogame” and a guided journey to explore and study the cryptocurrency world.

Community

Development regarding the community was diverse in 2023. All the initiatives undertaken aim to establish a two-way dialogue between us and our users.

  • Discord: In 2023, we completely restructured the central hub dedicated to our community. The Young Platform Discord server also saw the creation of a channel reserved for our biggest supporters, the Platinum Club members, and we are working on creating one for other supporters. To comply with current regulations, we have yet to be able to reward the most active members with free token distributions. 2024, we plan to distribute many benefits to our most loyal supporters.
  • Telegram and WhatsApp: We also launched a new Telegram channel and a WhatsApp Community. The primary goal of these two digital spaces is to keep our users informed about the latest crypto news. We also publish weekly analyses of the price of Bitcoin, Ethereum, and the best-performing cryptocurrency.

Upcoming News!

Many new developments await us in the coming weeks. Here, we can only reveal two of them, which will help us achieve two key objectives: enhancing the trading experience on our platforms and increasing the adoption of the YNG token.

The first relates to the “little robot” visible on our app and in various social media content published in recent months. Predictably, it is linked to some automated trading features we will release in the coming weeks. These will enable all our users to access intelligent solutions for purchasing and managing cryptocurrencies and tailor them according to their strategy. But that’s not all. Launching these new functions is also an incentive to join our Clubs, as members will be rewarded with various advantages. This could also positively influence YNG’s price action.

The second development is designed for those who actively and regularly use the applications of our ecosystem, particularly the Pro version. We are improving the interface to make trading on Young Platform Pro more professional. Additionally, we are enhancing our APIs and exploring various options to increase liquidity on the order books and minimise the spread as much as possible. We aim to establish partnerships with a specialised market maker in this regard.

For now, the spoilers end here. Continue following us on all our channels!

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FED Meeting January 2024: Unchanged Rates

fed meeting january 2024

For the fourth consecutive meeting, the Federal Reserve keeps interest rates unchanged. Powell is sceptical about March cuts.

In a move anticipated by the market, during the FED’s meeting on January 30-31, 2024, it was decided to maintain the federal funds rate between 5.25% and 5.5%. This decision marks a continuation of the stance adopted since July 2023, reflecting the committee’s strategy in the face of good but not solidified economic indicators. “We don’t have a growth mandate. We have a mandate of maximum employment and a price stability mandate,” commented Federal Reserve Chairman Jerome Powell following the meeting.

Since the strong inflationary wave in 2022, which reached its highest peak in forty years, the Federal Open Market Committee (FOMC) has undertaken a strict policy to rebalance the economy. This led to a series of interest rate hikes aimed at containing inflation, starting in March 2022. Indeed, since then, it has shown signs of slowing down. However, such high interest levels had not been recorded for over two decades, increasing market pressure for the Fed to intervene with a cut in the coming months.

During the January 2024 FED meeting, the Committee emphasised its intention to maintain a high vigilance. Balancing economic factors remains a delicate and non-guaranteed task: reducing interest rates could jeopardise the downward trend of inflation. On the other hand, the U.S. economy risks falling into a recession. “Inflation is still too high, ongoing progress in reducing it is not guaranteed, and the path forward is uncertain,” said Jerome Powell in his post-meeting press conference.

Despite such statements, traders continue to bet on a rate cut that would bring them between 3.75% and 4% by the end of the year. This would mean that the FED should start consistently cutting rates with increments of a quarter of a percentage point at each meeting starting in May. For those still anticipating a cut in March, Powell emphasised, “I don’t think it’s likely that the Committee will reach a level of confidence by the March meeting.”