As play-to-earn games continue to evolve within the digital space, CEX.IO Power Tap has introduced a Telegram-based gaming experience that combines social interaction with blockchain technology. This platform operates through a Telegram bot, allowing users to engage with various gaming mechanics while connecting with other participants.
The system has been designed with user experience in mind, featuring an intuitive interface that makes navigation straightforward even for newcomers to the space. With its integration into Telegram’s messaging platform, users can seamlessly switch between regular communication and platform activities.
The system emphasizes community participation and engagement, creating an environment where users can interact while exploring the platform’s features.
Coming soon…
Here are today’s CEX.IO Power Tap Daily YouTube Quiz Answers:
Task: “Level Up Your Crypto Knowledge: The Next 5 Terms You Need to Know”
1. What happens during a “Short Squeeze”?Short sellers are forced to buy back a coin, causing the price to rise rapidly
2. What is a “Gas War”?When many traders compete to have their transactions processed first, raising gas fees
3. Why do “Gas Wars” happen?Because many traders are trying to get their transactions processed at once, driving up fees
4. What is a key feature of a “Short Squeeze”?The price of a coin spikes as short sellers are forced to buy back
5. What does the term “Moonboy” refer to in cryptocurrency?Someone who believes every coin will skyrocket to the moon
6. What is the main characteristic of a Moonboy’s trading strategy?Expecting every coin to skyrocket regardless of the market situation
7. What makes “Snipe” trading different from regular trading?It’s all about timing and making quick, targeted trades
8. What causes the chaos in a “Short Squeeze”?A sudden increase in coin price forcing short sellers to buy back the coin
9. How does a Moonboy view the market?They believe every coin will eventually skyrocket to high prices
10. What does “Snipe” mean in crypto trading?Making quick, precise trades to capitalize on price changes
11. What is a “Moonshot” investment?A high-risk investment with the potential for massive returns
Task: “How to Calculate Profit and Loss in Margin Trading”
1. In the example where Ethereum rises from $2,000 to $2,100, what is the loss for 2 ETH with 3x leverage before fees?$600.00
2. What additional cost may apply if you hold a margin position for a long time?Funding costs or interest on borrowed funds.
3. Why should traders calculate profit and loss before entering a trade?To analyze the risk-to-reward ratio.
4. If the entry price is $20,000, the exit price is $22,000, and leverage is 5x, what is the profit before fees for 1 BTC?$10,000.00
5. What does leverage do in margin trading?It increases both potential profits and risks.
6. What is the key benefit of understanding how to calculate profit and loss?It helps you stay in control of your trading decisions.
7. What is margin trading?Trading with borrowed funds to open larger positions.
8. What happens if the market moves against your position in margin trading?You can incur amplified losses.
9. What is the basic formula for calculating profit or loss?(Exit Price – Entry Price) × Position Size × Leverage – Fees.
10. What is the first step in calculating profit for a margin trade?Find the difference between the exit price and the entry price.
11. What tool can help you manage risk in margin trading?Stop-loss orders.
For those looking to start their journey, here’s how to use today’s combination code:
- Open the CEX.IO Power Tap Telegram bot
- Navigate to the Task section
- Tap on the available question tabs
- Watch the video and like it
- Go back to the game
- Tap the Start Quiz button
- Insert the code mentioned above
Mining Pool System
The platform implements a collaborative approach through its mining pool mechanism. Users can create pools and invite others to join their network.
Pool creators receive 10% of their invited participants’ earnings, creating a beneficial environment for community growth.
This system encourages users to build larger pools for enhanced results.
Experience Points System
The platform uses CEXP (CEX IO Experience Points) as its internal metric. These points serve as indicators of user activity and engagement within the ecosystem.
Users accumulate CEXP through regular participation and interaction with the platform’s features.
Daily Activities
The platform maintains user engagement through various daily activities:
- Regular check-ins
- Community challenges
- Pool participation
- System upgrades
Social Integration
One of the platform’s distinguishing features is its deep integration with Telegram’s social infrastructure. Users can:
- Form groups with other participants
- Share achievements
- Coordinate activities
- Engage in community discussions
Initial Setup
- Access the CEX IO Telegram bot
- Complete the basic profile setup
- Review the available features
- Join or create a mining pool
Navigation Tips
The interface provides straightforward access to key functions:
- Main menu contains core features
- Settings section for personalizations
- Activity log for tracking progress
- Community section for social features
Pool Management
Users who manage pools have access to additional tools:
- Pool statistics tracking
- Member management options
- Activity monitoring
- Communication channels
System Upgrades
The platform offers various ways to enhance your experience:
- Equipment improvements
- Efficiency boosters
- Special items
- Rare collectibles
While this platform has gained popularity among users, it’s crucial to exercise caution when engaging with any blockchain-based applications. Users should:
- Maintain strong security practices
- Understand the entertainment-focused nature of the platform
- Review all terms and conditions
- Exercise discretion with personal information
- Verify all transactions before confirmation
This article is an independent update provided by CoinMarketCap and is not paid for or sponsored by any specific project mentioned therein. CoinMarketCap does not receive compensation from these projects and is not affiliated with, nor does it have any connection to, them. The information provided is for informational purposes only and should not be considered financial advice.
