Perspectives on the Italian crypto scene. Interview with Michele Zilocchi

Interview with Michele Zilocchi 

Why did you start with cryptocurrencies?

I remember the time when I was graduating, and I dreamed about an International working position, full of entrepreneurs and with lots of different projects. It was the year 2013, andI could not figure out that I was already thinking about the Cryptocurrencies environment, but now it seems to me like I have found what I was looking for.

You now write on Amicaborsa.com, an emerging business website in the Italian market. What happened?

I had a great opportunity of showing my skills to a strong Italian entrepreneurs team that operates in London managing a rising investment fund. Along the year 2017, we decided to start a new section on Amicaborsa.com talking about Cryptocurrencies technology, Blockchain and Trading of Cryptocurrencies.

You talk a lot about Cryptocurrency trading and trading for newbies, tell us more?

My adventure in Cryptocurrencies started with Binance, buying some Altcoins randomly, and selling randomly the same coins. What I realised was that the Cryptocurrencies markets (especially the Altcoins versus Bitcoin markets) have a higher volatility and price excursion than usual Forex market. Higher volatility is mainly due to lower capitalisation of the markets and to strong correlations with some major markets such as BTCUSD.

You are Italian. How do you feel about cryptocurrencies in your country?

I feel comfortable in saying that Italy is moving forward within the Cryptocurrency and Blockchain environment with lots of initiatives.

For example, Rovereto (north Italy, county of Trento) is generally known as the first area in the Country where you can get Bitcoin from ATMs since the year 2018.

A second great initiative has been the Blockchain volunteer group in Napoli, where they are focusing on the Waste Disposal Tokenization.

Last but not least, the Italian Parliament appointed 30 Italian Blockchain Experts as part of a team to develop  Blockchain application. Among these 30 Experts, there are lots of different professional profiles such as Accountants, Engineers, Entrepreneurs, Professors and Information Technologists.

What are the activities related to cryptocurrencies that you think are most popular in Italy?

I think the Italians approach does not differ too much from the average individuals around the world facing for the first time the cryptocurrencies’ market: reluctance and difficulty understanding in getting their first crypto coins. Once you have got a coin, what do you do to get more value from it?

What are cryptocurrencies market activities you are focusing on right now?

I am building my credibility as a cryptocurrency trader, as a cryptomining farm’s advisor and experiencing as an ICO advisor.

I like the Advisor experience because it gives me the opportunity of being in touch with many of blockchain’s based companies and looking through their business development since the early stage.

We are currently starting our cryptocurrency mining facility based in Asia, but so far my deepest experience has been focused on Crypto trading. I am struggling to sharpen some trading methods detached from the ordinary technical analysis that sometimes involves extra-confusional graphics.

At this moment, the Cryptocurrency market generally has a low capitalisation, being easily influenced by some big trade orders put on the market and bypassing any technical analysis. You may have been told the OTC market is growing and more and more Exchanges are offering this opportunity, but you have to consider the Market Prices might be tastier even for big players.

In my opinion, when you begin trading on Cryptocurrency, you must be familiar with and increasingly dominate your approach to Money Management controlling and distinguishing the risk accordingly.

Binance is my favourite broker, even if I had experience with several Cryptocurrency brokers and having had my first trading experience with Derivatives contracts. Do you know what happened? There were too many hidden fees,and I got rid of them, switching to the “pure Cryptocurrency trading” where you have no overnight fees, and no taxes apply in Italy until a certain traded amount.

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