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How to mine OTN (Open Trade Network)

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Stein   

How To Mine OTN Tokens?

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Iqoption presents a brand new platform, which provides an opportunity to combine all the networks based on blockchain-technology. This network called OTN (Open Trade Network) will be the first that will enable cross-chain, or in another words, a chain of blockchain-platforms.

The developers of OTN claim that their innovative system will help to play in the cryptocurrency market in your best interests, as all the members of the crypto-world now will be united.

So, how can we describe the technology of OTN? Firstly, it is the primary system that is fully provided with decentralized exchange. This feature might be the leading in the platform as it will be the basis for the safest transactions between different blockchain platforms. However, this feature is not the only one. Developers promise us a lot of updates, which will be made on the basis of their white paper.

Also OTN may become a universal solution for the most of the main problems in our cryptocurrencies. Benefits will affect statistics apparently: from the rise in amount of exchanges to the growth of scaling market and obvious increase in cryptocoin potential.

OTN +5000% In Two Weeks!

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Which opportunities will OTN provide for our wallets? Firstly, the assets in all types of cryptocurrency will be now concentrated in one wallet-address. Secondly, unit system of tokenization with one ecosystem and common regulation will lead to the legalization of cryptocurrency in any region. Exchange will become fully secure with the help of the Smart Contract system. OTN will work 24 hours a day, any time and in any place. Finally, all of the assets and funds will be secured from any invention of the third participants.

Let’s now move on to the main challenges of the market, on which OTN will try to provide some solutions during the long-period:

  • Unsafety of the transactions will be reduced with the help of smart contracts;
  • Simplification of cryptography, making a unification for all the algorithms will make your transaction faster and will enable immediate responds on every present situation in the crypto-market;
  • OTN is working on finding the way of insurance coverage for the participant of the crypto market;
  • OTN also will help users to define whether this or that product provided by a blohchain project might be practically useful or not.

If you still think that IQoption may provide us something bad, we’ll try to change your mind in this issue.

The Open Trading Network (OTN) has been developed by the team at IQ Option to solve the
problem of separate blockchains failing to cooperate in an effective manner. This problem can
cause serious issues when it comes to managing cryptocurrencies. Think of the OTN as a new
type of Internet. The very essence of the Internet involves connecting separate networks to
create a whole entity. OTN achieves the same goal — but by connecting blockchains instead of
computer networks. 
Just like any other cryptocurrency network, OTN has its own tokens, which are made available
to individual traders using the IQ Option interface to buy and sell cryptocurrencies. Every week,
a new tranche of tokens are released, and made available to traders based on previous trading
volumes. Over time, the number of tokens released every week will fall, making the relative
value of each token higher and higher. 


Should I Mine Tokens or Buy Them?
You can buy your OTN tokens from livecoin.net, without having to get involved in
cryptocurrency trading. However, this means you’ll miss out on the potential profits that come
with trading on a trusted online platform. 
By mining tokens you’re getting them as a reward for your trading — rather than paying an
upfront fee for them. And thanks to the increasing popularity of the OTN, the value of any
tokens you earn is expected to rise significantly over the coming years. Another reason many
people choose to mine tokens rather than buying them is that they can be used to cover the
cost of commissions charged for trading cryptocurrencies. 
[h2]Mining Tokens on the IQ Option Platform[/h2]
Mining OTN tokens with IQ Option is exceptionally easy. Simply logon to the platform, and
locate the Crypto or CFD assets. They are located on the top-left panel of the trading
dashboard. Pick the asset you want to trade, set the amount you’re investing, and agree to the
commission payable. Once your transaction has completed, your assignment of tokens will be
added to your balance. 


Locating Your Tokens
After a few trades, you should notice that your balance has increased — but only if you know
where to look. You will find the details of your OTN holdings on the left panel. Scroll down to
the the “Expected OTN Amount” panel, and you will be able to see how many tokens you’ve
earned this week, as well as the total number of coins you hold. 
If you’d like to see how the expected amount of tokens was calculated, just click the amount
that is coloured light green. There’s no secret formula being used here, however. The amount
shown is just your current balance plus whatever you’re expected to receive at the end of the
trading week. The number of tokens you receive on any given week will depend on how much
commission you’ve paid, the total commissions paid by all crypto traders and the total amount
of tokens being released during that week. 

What Happens After I’ve Mined Tokens?
Once your tokens are in your account, you can withdraw them to your cryptocurrency wallet
and sell them whenever you want. Sell your tokens on the Livecoin exchange, or use them to
pay your IQ Option commissions. You also have the option of holding onto the tokens until the
OTN launch, after which you can exchange your tokens for coins. 
The technology behind some cryptocurrency networks is still relatively fragile and untested —
and these issues are compounded when cross-chain operations are involved. However, OTN is
an attempt to change all that, so now is a great time to get involved.
 *IQ Option is a brokerage company and does not provide OTN tokens to clients. All tokens are provided by the OTN foundation. The OTN foundation confirms that it does not sell OTN tokens and that the activity is non-commercial.

 

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Let’s try to find out, how to mine OTN tokens.

Mining is one of the most important question about IQoption. Here are few tips on this process.

How to Mine OTN - Step 1

1.  In the trade room of the platform on the left panel on the top you should find “crypto assets”;

2.  Then you should chose a current asset and define the value of your investment;

3.  Before the exchange you need to pay the commission, but don’t forget also to agree for this process;

4.  When the buying is done, an amount of coins will be showed on the screen with your balance.

Talking about this process, we should not forget also about one more point: the cause of the non-corresponding awaited amount of the platform’s tokens at the start and in the end of one week.

So, when the first main step is done, we need to find a location for our OTNs.

How to mine OTN Tokens - Step 2

1.  On the platform’s left side there’s a picture with the symbol of OTN;

2.  There you should find a sector with the name “Expected OTN amount”;

3.  Now you may find a number of commission for the last week and an amount of coins that you'll gain for the payment;

4.  A number of coins that you expect, please, mark with the green color. This action will help you to count this number in special calculator added to the OTN platform.

So, if you usually buy and sell tokens on the start of the week, you may try to choose tiny commissions but don’t forget that the number of tokens, which you expect, will be appropriate just for the current short period. The rise of total commissions may lead to turning out your assets to 100 tokens, e.g., instead of 200 because of the emission.

For some people it may become hard to understand, how to calculate this amount. However, here’s a tip - a special formula:

OTN = commissions X amount of tokens by the end of the week

To make it clearer, let’s consider a specific example.

-      A total amount of fees on the platform was $1,000,000 for the last 7 days.

-      For this week we’ve paid fees about $2,000.

-      The schedule of emission indicates that 350,000 tokens was planned on the past week.

So, the amount that we receive will be:

(2000/1,000,000)*350,000=700.

What can we do with these OTN tokens then?

How To Mine Open Trading Network Tokens - Step 3

1.  Trade them to coins at 1:1;

2.  Sell on exchanges with the help of the Eth platform;

3.  Pay commissions for trading on the IQoption.

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5a0b79ea3f578_OTNToken.png.c24f09f37b1a8e07a2270b0d86e092f2.png

 

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    • Kako kupiti OTN tokens
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