Bogged Finance - DeFi Ninja Tools

Decentralised Finance (DeFi) is a significant development arising from the creation of Bitcoin and the Ethereum blockchain.

DeFi services allow anyone to lend out and borrow money by staking their cryptocurrency as collateral and without handing over any identity documents or undergoing a credit check.

Many apps and platforms exist solely to help new crypto users navigate the new DeFi economy and get the most profit from their crypto.

DeFi apps are already incredibly popular - many cater to millions of daily users. They offer a wide range of services, including coin and token analytics, profit and loss reports, advanced trading tools, and decentralised coin swapping facilities, to name a few.

Bogged Finance stands out as one of the most popular and innovative DeFi platforms today.

What is Bogged Finance?

Bogged Finance, or BOG, is an advanced trading toolbox for accessing DeFi services on the Binance Smart Chain (BSC). The development team have a strong focus on innovation and rapid development. The platform helps you to make profitable trades, get the best price for swaps, and analyse recent price trends, all within a single application.

In addition to regularly releasing new and valuable crypto trading tools, Bogged has also established itself as a leading Decentralised Exchange (DEX) aggregator on the BSC.


Bogged Finance Trading Tools

Bogged's advanced trading tools, described below, let you set up trades in advance of predicted market movements. This means you need not spend your day switching between charts and reacting to price movements in real-time.

The trading tools have the extra benefits of guarding against human impulsivity. By setting up your orders ahead of time, you're far less likely to act on impulse and panic sell your asset at the wrong moment.

Stop-Loss Orders

Stop-Loss orders are a lifesaver for new traders. Think of stop-loss orders as a disaster avoidance tool.

Stop-loss orders limit your losses on specific trade by automatically selling your assets at a predetermined price below the price you bought the asset for. Although stop-loss orders "locks-in" your losses by selling your assets for less than what you paid for them, they stem the bleeding by limiting your losses to an amount you can afford.

For example, let's say you believe  ADA  will rise in value based on a recent endorsement from Elon Musk. You buy 1000 ADA at $2.00 per coin. To prevent big losses, if Elon changes his mind and the price goes south, you set a 10% stop-loss order.

The order will automatically sell your ADA if the price dips 10% below $2.00, which in our example will be $1.80. While the loss is never a desirable outcome, a minor loss is always better than a bigger loss.

Trailing Stop-Loss Orders

As the name suggests, a trailing stop-order is just a standard stop-loss order but with a crucial difference - it trails an asset's price as it raises.

If the asset's value immediately plummets, a trailing stop loss works just like a standard stop-loss order by selling the asset at a predetermined price. But if the price goes up, the selling price at which the order is executed also rises. The selling price will never go lower than the initial price set - only higher.

Using the same example as above, let's say you set up a trailing stop loss order of 10%, and the price of ADA rises from $2.00 to $3.00 due to news breaking out about a ground-breaking new intelligent contract feature.

But suddenly, the coin dips to $2.70 as rumours begin to circulate on Twiter about a glaring development error. In this situation, your trailing stop-loss order would sell your ADA at $2.70, which is 10% below the highest price ADA has reached since you bought it.

Comparatively, a standard stop-loss would have sold your ADA at$1.80.

Limit Buy Orders

A limit order can either buy or sell an asset at any predefined price.

A buy limit order will execute at your desire price or lower. Conversely, a sell limit order will execute at your desire price or higher. Of course, if the price you choose for your order is never reached, your order won't be filled and will expire after a certain period.

The difference between a limit order and a stop loss is that your limit order is available publicly, whereas your stop-loss is private. Analysing the limit buy and sell orders of other traders is a popular trading tactic to gauge current market sentiment.  

Trailing Buy Orders

Even if you have never executed a trade in your life, you've probably heard the term "buy the dip", which is exactly what a trailing buy order lets you do.

A trailing buy order lets you set a buy price that rises with the market to stop you from buying an asset at its all-time high. Instead, you'll buy automatically as the price dips, hence "buying the dip".

Coin Sniping

Bogged's Coin Sniper tool is its flagship feature.

In short, the Coin Sniper tool gets you in on new launches for a better price while reducing money lost to slippage. It doesn't cost anything to use the tool, but you must have at least 250 BOG tokens in your account to use it.

The sniper tool also lets you bypass transaction limits and wallet cooldowns on new coin launches, letting you buy a more significant position in a coin or token that you otherwise couldn't.

The tool doesn't guarantee success or buy a token at a specific price, but it gives you the best chance of getting early on the hottest new token launch.  

Bogged Offers Other Features Beside Trading Tools

Like other DeFi platforms, Bogged has a native currency, BOG, which you can either stake or exchange for services on the platform.

Staking BOG is much like staking any other token. By solo staking your BOG tokens on the Bogged platform, you can earn up to 14.85% APR.

Bogged also allows for liquidity staking, in which you are paid a share of the platform's transaction fees in exchange for staking your tokens in a pool.

Bogged has also recently launched its NFT platform, featuring a collection of Sminem NFTs, each costing between 1-1.5 BNB tokens.

There are many other cool features in the pipeline that would most likely keep Bogged Finance the go-to platform for DeFi.

Team

Bogged's team initially composed by John and Luke has inspired many in the space. With a larger team, 11 atm they are set to succeed in the space and attract even more talent.

To learn more about Bogged Finance, visit the following links:


Investment

I've been a fan of the BOG ecosystem since the beginning. The team doesn't stop overdelivering and it looks ready to go mainstream.

I will start DCA'ing over the next few weeks with a view to accumulating a minimum of 10,000 BOG.  You can check here my current PNL

My plan is to be able to use the Sniper on the launches where I can't get an IDO allocation or my allocation is not sufficient.


Investment 3 | 9 years, 11 months to go...