X to launch crypto trading in a couple of weeks

[OmegaStarScream]

Source: https://x.com/nikitabier/status/2022592748952653969

Nikita is part of X's team (head of product).

More on "Smart cashtags" (from a month ago): https://x.com/nikitabier/status/2010277345651990564

Now the question that remains is how is this going to be done? The stocks will more than likely not be available worldwide.
For crypto, I don't see them launching their own exchange either, this is probably going to be in partnership with a U.S based platform (possibly Kraken/Coinbase/Gemini?). Thoughts on this?

[Oshosondy]

Now the question that remains is how is this going to be done? The stocks will more than likely not be available worldwide.
For crypto, I don't see them launching their own exchange either, this is probably going to be in partnership with a U.S based platform (possibly Kraken/Coinbase/Gemini?). Thoughts on this?

We do not know how it would be done yet, it is something new and no explanation yet about how it would be done. What I think is that they will need to collaborate with few stocks and crypto exchanges.

But to make this possible on X directly without third party services, Elon Musk is capable of this but I do not think it is a proper thing to do.

[hugeblack]

It seems Smart Cashtags will be linked to X Money^[1], which will be integrated with banking services like Visa or partnerships with Coinbase and others.

I just hope their X security system has improved.

The bad news is that this kind of news will bump Dogecoin, which might push memecoins back into the market. This spam will likely continue for a while.


[1] https://www.tradingview.com/news/invezz:ebc4ef1ed094b:0-elon-musk-pushes-x-into-finance-as-x-money-prepares-for-global-launch/

[Furball808]

Lol trade directly from the timeline? Just imagine how much easier this will be for people who trade based on what they see on social media platforms? So many predictions or speculations on X so it makes sense that they will integrate trading but not everyone is on X for trading so I do not know if they will be much successful. X was never meant for this, it was just a social media platform.

[NeuroticFish]

I think/hope it's more a way to keep everybody's eye on X Money.

I fear that trading from X means:
* trading based on bot-based hype and FUD, which cannot end well
* scams, stolen accounts, stolen funds and all the related drama - again the wrong kind of things for a platform that's already getting into troubles because of AI generated images


I know, I know, even bad advertising is still advertising, but something makes me feel wary about this.

[pawanjain]

Source: https://x.com/nikitabier/status/2022592748952653969

Nikita is part of X's team (head of product).

More on "Smart cashtags" (from a month ago): https://x.com/nikitabier/status/2010277345651990564

Now the question that remains is how is this going to be done? The stocks will more than likely not be available worldwide.
For crypto, I don't see them launching their own exchange either, this is probably going to be in partnership with a U.S based platform (possibly Kraken/Coinbase/Gemini?). Thoughts on this?

Even I think it would rather be some kind of partnership or something.
I would definitely not like it getting integrated within x itself. That would be a horrible idea.
It would be better if they have a separate platform for trading so really not sure how that's gonna workout but we will find it out in the upcoming weeks anyway.

[stompix]

Now the question that remains is how is this going to be done? The stocks will more than likely not be available worldwide.

No problem whatsoever!
You will have to register with your full details anyhow to do this so they can give you only the options that are available to your region.
But that being said, I'm almost certain it will be an US only thing at first!

The other question would be why would you do this, I don't see a worse place for this other than 4chan, and the esspool that was once twitter is catching up pretty fast!

The bad news is that this kind of news will bump Dogecoin,

It will bump the coins with the biggest community and anyhow, whatever you do, you can't side-step doge

[Fivestar4everMVP]

Lol trade directly from the timeline? Just imagine how much easier this will be for people who trade based on what they see on social media platforms? So many predictions or speculations on X so it makes sense that they will integrate trading but not everyone is on X for trading so I do not know if they will be much successful. X was never meant for this, it was just a social media platform.

I honestly don't see the integration of an exchange on x as a very important feature because an exchange will remain an exchange while a social media will remain a social media, a social media can't do the job of an exchange just same way an exchange can't do the job of a social media..

I feel the exchange being integrated on x won't be a full fledged crypto exchange but simply a simple interface of an existing exchange that can only allow quick swapping of few selected crypto assets, anyone wanting to trade fully will still have to visit an exchange.
Anyways, it's interesting by the way, and the feature is one I think will make the x platform more interesting for her users, but I don't think this is a feature that will stop an x user who is a trader from going to an actual exchange to trade.

[ZAINmalik75]

It seems Smart Cashtags will be linked to X Money^[1], which will be integrated with banking services like Visa or partnerships with Coinbase and others.

I just hope their X security system has improved.

The bad news is that this kind of news will bump Dogecoin, which might push memecoins back into the market. This spam will likely continue for a while.

You are right hugeblack, they have done this many times, like whenever they talked about payouts, and finance in their system, which they have been discussing for some years now, they always exclude dogecoin from that discussion.
And it dumps after that.

Anyway, memecoins are also dumping they are not safe from the dump, if bitcoin is not. But things can change if they even say something about doge. And smart cashtags seem like a good plan for twitter, but would anyone use it? Many read news from twitter and then jump to exchanges but would anyone give their Twitter account access to their exchange.

[sokani]

I feel the exchange being integrated on x won't be a full fledged crypto exchange but simply a simple interface of an existing exchange that can only allow quick swapping of few selected crypto assets, anyone wanting to trade fully will still have to visit an exchange.
Anyways, it's interesting by the way, and the feature is one I think will make the x platform more interesting for her users, but I don't think this is a feature that will stop an x user who is a trader from going to an actual exchange to trade.

It will likely be a partnership with other exchanges, and I'm not sure it will have most features available on exchanges. X has a lot of traffic. It is among the 5 most visited websites in the world, and they want to maximize the traffic to make more money by integrating exchange.

I would rather stick with conventional exchange. If there's an issue with a trade, it will take longer time to resolve, as we've seen many times with wallets that integrate swap services.

[Darker45]

This sounds interesting. I'm curious how it would turn out. I bet this is going to be a bloody game. X has around a couple hundred million daily active users, most of whom are likely influenced by the noise more than the real deal. It's pretty much a fun experiment.

This is probably going to be a battle of shill armies, influencers, analysts, hypes, FUD, and whatnot. I'm looking forward to this, although I'm still curious how it's going to be done.

[rat03gopoh]

It seems Smart Cashtags will be linked to X Money^[1], which will be integrated with banking services like Visa or partnerships with Coinbase and others.

Links can still be redirected to other sources if you don't like the platform's chart display or are in a restricted region. My browser has the okx Web3 extension installed, and the coin price ticker on X will redirect to the okx charts. I think it will also work if you install other wallet extensions, but I haven't tried it yet.

[jcojci]

We don't know yet until they release officially. They wants more money so they initiating by creating their own exchange. It gives their users to trade inside the X app and gives easiness instead they use other exchanges app. But the point is they wants more money and they see the opportunities by launch their own exchange.

[OmegaStarScream]

Nikita has posted another update (in response to another tweet): https://x.com/BullTheoryio/status/2022741310709600516

Apparently, and as expected, they're not going to be handling the trading themselves but rather use a third party service (redirect users to it).

[Zwei]

Nikita has posted another update (in response to another tweet): https://x.com/BullTheoryio/status/2022741310709600516

Apparently, and as expected, they're not going to be handling the trading themselves but rather use a third party service (redirect users to it).

lol, this got hyped so much for nothing.

so they are just going to turn twitter into an affiliate to earn commission?
what i don't understand is why any trader/investor would use twitter for that, they can just go to their broker/exchange of choice and get the same info and whatnot, or am i missing something?

[Darker45]

lol, this got hyped so much for nothing.

so they are just going to turn twitter into an affiliate to earn commission?
what i don't understand is why any trader/investor would use twitter for that, they can just go to their broker/exchange of choice and get the same info and whatnot, or am i missing something?

With hundreds of millions of users, many of whom gullible, combined with all kinds of promotions, analyses, experts' signals, influencers, hype, charts, predictions, and whatnot posted and shared 24/7, it's certainly easier for Twitter to haul new users to partner brokers/exchanges. Which likely means these brokers/exchanges will, in turn, also be generous in terms of exclusive bonuses and other benefits.

So, not only is it convenient for clueless would-be victims Twitter users to access all kinds of information from a single platform, or arrive at any exchange's sign-up page, they also get to enjoy exclusive bait deals.

[Pmalek]

I think the chances that this will start as a US-only feature are pretty high. Maybe in the near future they will spread it out to a few more selected countries. I wonder if all this can go tits up. Only time will tell.
Grok thinks that eToro could become X's partner for the Smart Cashtag transactions, but that's only speculation at this point. 

[Curious T]

With hundreds of millions of users, many of whom gullible, combined with all kinds of promotions, analyses, experts' signals, influencers, hype, charts, predictions, and whatnot posted and shared 24/7, it's certainly easier for Twitter to haul new users to partner brokers/exchanges. Which likely means these brokers/exchanges will, in turn, also be generous in terms of exclusive bonuses and other benefits.

With their lord and personal saviour, Elon, leading the campaign, it would be very easy to fool them. Twitter has been moving towards a certain way since he took over the app, and even though this is a long shot, I am not surprised that something like this is a possibility.

[dkbit98]

Now the question that remains is how is this going to be done? The stocks will more than likely not be available worldwide.
For crypto, I don't see them launching their own exchange either, this is probably going to be in partnership with a U.S based platform (possibly Kraken/Coinbase/Gemini?). Thoughts on this?

I would not use that X app for trading crypto or anything else.
Musk already have plans to transition X into ''everything app'' and I am sure he is going to push and promote CBDC in future.
Maybe focus will first be on United States but it would eventually spread to other countries.
Keep in mind that you will have to KYC your X account for doing any trading.

[Zwei]

So, not only is it convenient for clueless would-be victims Twitter users to access all kinds of information from a single platform, or arrive at any exchange's sign-up page, they also get to enjoy exclusive bait deals.

can't wait for all the things that will go wrong with this and to see people complaining about losing their money after they joined a pump and dump, etc... or however investing/trading grifters on twitter gonna abuse it. it's going to be a real shitshow.

Grok thinks that eToro could become X's partner for the Smart Cashtag transactions, but that's only speculation at this point. 

i'm sure twitter users are going to love that considering where eToro is based.