I wanted to write about this insurance platform for cryptocurrencies, but BiTrust is a lot more than insurance. It is more comprehensive than buzz phrases like "piece of mind" and more relaxing than a home insurance. If you are buying insurance for your home or for your car, you are doing something that you do not expect to happen. For example, you do not expect your house to burn down or your car to crash, but you do the insurance anyways because these rare events may occur sometimes in the future. In terms of crypto trading, FOREX trading or stock trading, new traders tend to lose a lot, while experienced traders tend to win a lot. So, if you are a new trader, or you have some experience, you may want to lower your risk of losing money. I do trade sometimes, but whenever I buy something its price decreases, and whenever I sell something, its price increases. I guess it is because I am acting on my emotions, instead of calmly analyzing the situation and the data. Experienced traders act based on their instincts and the data available, instead of their emotions. A lot of the public moves in the same way, and they use this crowd psychology to their advantage and make easy money. Some whales, meaning people or institutions with large sums of money move the market and shortchange average Joe like you and me. A lot of people lose small sums of money, while these whales make large sums of money.

Here is a very clear video that explains BITRUST in simplest terms:

Enter BiTrust, which puts your mind at ease by insuring your trade position. If you are a small investor like me, you use this system to insure your trade against the whales. Let's say you purchase some Bitcoin, thinking that its value will increase from 9000 USD to 10000 USD, but you can never be sure. Your previous experience tells you that whatever you think is going to happen, the reverse tends to happen. So, you use the BiTrust insurance to get yourself a piece of my mind in a very risky endeavor. This is very different from your classic home insurance because while your home does not burn every day, you may lose money trading every day. On the other hand of the spectrum, let’s say an experienced trader or a whale thinks the Bitcoin price will increase as well. He insures your trade based on his experience or his institution's position. His institution could be investing in Bitcoin to increase the price and then short it to make a profit. A lot of institutions do that in FOREX, and they make very nice profits by playing with millions of dollars every day. If Bitcoin price increases like you and your insurer predicted, excellent, you make good money, and your insurer gets a cut of the profits through the smart contract. If, on the other hand, your trade fails and Bitcoin price declines, then you do not lose money because your trade is insured. The experienced guy insuring your trade loses some money for insuring your losing trade, but then people who are confident enough to insure others tend to win most of the time. The reverse is correct also, meaning that if your trade is to short XRP, for example, then the person insuring you is betting on the same thing. If XRP loses value, you both win because you shorted. If it gains value, only the insuring person loses. The folks who are doing the insuring will be able to use other people’s money as leverage, playing with a lot more money than they have In a decentralized manner, instead of trusting exchanges and their expensive leverage fees.





Their website: https://bitrust.co.uk/

Whitepaper: https://bitrust.co.uk/files/whitepaper.pdf

Ambassador link for the Bitrust Campaign bountyhive.io/join/Bitrust?from=ridertiger