Greetings, Pi42 traders! We’re thrilled to announce the arrival of Stacks (STX) on our platform. You can now leverage Pi42 to effortlessly buy, sell, and trade STX with Indian Rupees (INR).
What is Stacks (STX)?
Launched in 2017, Stacks is a blockchain protocol designed to bring smart contract functionality and decentralized applications (dApps) directly to the Bitcoin network. STX serves as the native token that powers the Stacks ecosystem and incentivizes various participants.
Core Functionalities of Stacks:
- Unlocking Smart Contracts for Bitcoin: Stacks enables the creation and execution of smart contracts on the Bitcoin blockchain, expanding its functionality beyond simple value transfer.
- Decentralized Applications (dApps): Developers can build and deploy innovative dApps on the Stacks network, leveraging the security and stability of the Bitcoin blockchain.
- Tokenized Bitcoin (sBTC): STX can be used to mint synthetic Bitcoin (sBTC), a transferable representation of Bitcoin on the Stacks network.
Trading STX/INR on Pi42:
Excited to be part of the evolution of Bitcoin? Here’s a quick guide:
- Login: Access your Pi42 account.
- Navigate: Head to the trading terminal.
- Select the Pair: Choose STX/INR from the dropdown menu.
- Define your Position: Enter the desired investment amount, select your preferred leverage (if applicable), and adjust the percentage according to minimum asset requirements.
- Set Limits (Optional): Establish Take Profit and Stop Loss orders to manage risk.
- Execute your Trade: Click Buy/Long or Sell/Short based on your market analysis.
- Track your Trade: Monitor your open positions in the “Orders and Positions” section below the trading chart.
Explore the Future of Smart Contracts on Bitcoin with STX
The addition of STX/INR on Pi42 grants you access to the Stacks ecosystem, a pioneering project aiming to bridge the gap between Bitcoin and the world of decentralized applications.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.