Mainstream media has never been so interested in cannabis businesses as it is today. The general public’s increased interest in cannabis, combined with the fact that legal marijuana businesses were considered ‘essential’ during the COVID-19 pandemic, has made cannabis business more attractive to the press, which is very beneficial for marijuana-related brands looking to get press or media coverage.
However, with new marijuana-related businesses opening every day, some cannabis brands find it difficult to get media coverage. Let’s take a look at five tips to help make your cannabis business interesting to the press and receive media coverage.
Use the right influencer for your cannabis brand
A survey showed that 40 percent of social media users had purchased something after seeing it used by an influencer on Twitter, Youtube, or Instagram. And about half of those people shared the influencer`s content after seeing it, increasing the content’s exposure and engagement. Another report showed that almost half of the respondents (49 percent) trust influencers almost as much as they trust their friends (56 percent).
Related: Top 25 Cannabis Influencers 2019
But using the right influencer can also build your reputation and attract the attention of mainstream media. Some influencers have massive followings and are regularly featured in tabloids or other kinds of media, so collaborating with them can increase your exposure, especially if they use your merch.
And here’s the thing, some influencers are known to feature cannabis products on social media, so journalists who focus on the cannabis industry might already be avid followers of theirs. Collaborating with an influencer could help spread your name in mainstream media.
Sponsor (cannabis) events
In the days before the coronavirus pandemic, cannabis events were quite frequent. You could probably attend a different one every month or so. Nobody knows how long it will take for people to start going to industry-specific events again, but that time will surely come.
Sponsoring an event can help you strengthen your authority and create an image of success. And sponsoring an event, even if it’s an industry-specific one, can boost your brand’s visibility. Every event, no matter how small or large, is featured in mainstream media. You could leverage this media coverage to your advantage by booking radio spots or by featuring ads in local newspapers.
Sure, you might not be allowed to talk about cannabis on the radio, but you’ll probably be allowed to promote an event that’s about to take place in the community. Sponsoring an event is an excellent way to demonstrate your expertise in the field. And that can make your business interesting to a reporter or two.
Check out HARO to connect your cannabis business with the press
HARO is a platform that provides journalists with sources for their upcoming stories. But you can use the platform to secure valuable media coverage. Here’s how it works.
HARO’s registration process is easy and shouldn’t take more than a couple of minutes. After registering, you receive three emails with source requests every day. Check out the emails and look for requests that are relevant to your business.
Once you’ve found a source request you can handle, email the journalist and pitch your story. If the journalist is interested, he or she will reach out for more details.
One of the great things about HARO is that it’s frequented by over 55,000 journalists who work for all types of publications, from world-renowned ones like Reuters or The New York Times to local or industry-specific ones. Registering as a source and helping out journalists when they cover cannabis topics can make your business interesting to the press.
Leverage your social media presence
You can leverage your social media presence to attract the attention of different media publications. Social media has changed the way you can interact with the press. Most media outlets post their articles on Twitter, which means you can create a Twitter account for your business and follow the various media outlets that cover cannabis.
Get involved in the discussion, but be careful not to come across as spammy. Use data and statistics to support your arguments, and post only when the discussion is relevant to your business.
And you can also interact with your favourite journalists in the same way. Following a journalist and learning what they like and don’t like to write about could help you tailor a pitch to his or her style. You can then pitch your story and will hear back if it is of interest.
Getting creative with your social media profiles can make them interesting to journalists. Some cannabis brands were featured in mainstream media because they did something unique — some of them ran 4/20 bingo sessions, others posted cannabis food or cocktail recipes and so on.
Brainstorm a new way to engage your audience and you might make your profiles interesting to the press.
Tell better stories to get more press coverage
One of the easiest ways to make your cannabis business interesting to the press is to tell better stories. Just like your customers, journalists need a way to connect to your business. And stories help with that.
No one cares that you opened a new headshop, unless you’re the first one to open a cannabis business on Mars or something equally exciting. New businesses pop up every week, and the opening alone is not going to make your business interesting to the mainstream media.
But you might be able to make your business more attractive if you tell a better story. You could turn your opening into a local event with special guests. Maybe you could run a lottery for the first 50 people who enter your premises. Or you could think outside the box and donate all your opening day earnings to a nursing home.
Just think of the headline — ‘New headshop donates opening day earnings to the elderly’. Now, that’s a story even your retired great aunt would enjoy reading, so a journalist is bound to be interested in it. Pitch your new and improved story to local journalists and they should reach out for more details.
And you don’t need a grand event (or a massive investment), such as opening a store, to improve your brand’s story. You can improve it all year round, even without spending a lot of money. Maybe you could run a discount for fathers before Father’s Day 2020 (June 21st in the U.S. and UK), or run special offers for targeted groups, such as offering discounts on CBD oil for pet owners or veterans.
Doing things for your community improves your brand’s story and makes your cannabis business more attractive to the press.
The post 5 Tips to Interest the Press in Your Cannabis Business appeared first on Strain Insider.
Huobi Guide & Exchange Review: How to Trade Options, Futures, and Perpetual Swaps
Founded all the way back in 2013, Huobi Group is one of the leading blockchain companies in the industry.
It’s safe to say that the company has come a long way since then and it’s currently offering a variety of services for its wide user base. Employing people globally, Huobi offers a myriad of crypto-related services, including digital asset trading, wallet, mining pool, incubation, research, proprietary investment, and so forth.
Cryptocurrency trading has surged in interest throughout the past few years and exchanges such as Huobi have worked hard to expand their offerings. Derivatives products, apart from traditional spot trading, have exploded in interest, and Huobi is doing its best to accommodate.
Among its popular trading products are the futures, perpetual swaps, and options platforms. In this guide, we will take a closer look at how these tools operate and provide a step-by-step explanation of how to use them.
How to Register on Huobi?
Before anything else, however, you’d first have to register for an account. The process is fairly simple. There’s no mandatory Know-Your-Customer (KYC) procedure for spot trading, but if you want to start using the derivatives platforms, the ID verification is obligatory.
This is how the registration screen looks like:
All that is needed here is an email address that has to be verified through a verification code later on.
Once you have your account opened, it’s highly recommended to take a few additional security steps. First, it’s important to enable the Two-Factor Authentication (2FA), using the Google Authenticator app.
In addition, Huobi has taken a few extra steps that protect your account in the event of it being hacked such as email verification codes, phone verification codes, a designated fund password to ensure fiat asset security, and so forth.
If you want to trade on the derivatives platform, you’d have to go through an additional ID verification step which requires you to input your names, a government-issued passport, driving license or ID number, and upload a picture of it.
We’ve completed all the steps and, in our experience, the process was seamless and the KYC took no more than a few minutes to be completed and approved by Huobi’s team.
How to Deposit and Withdraw Funds?
Now that you have your account set up, it’s time to load it with some funds. Depositing is fairly straightforward and users can choose between a myriad of cryptocurrencies, including Bitcoin, ETH, USDT, and many others.
From the top navigation bar, you need to hover over “Balances” and choose the account you wish to fund. Regardless of where you deposit initially, you can easily transfer the funds between the accounts – it’s instant.
After you select the cryptocurrency you want to deposit, all you need to do is click on the “deposit” button, which will pull up this screen. In this case, we’ve deposited the stablecoin USDT.
In any case, regardless of the cryptocurrency you deposit, make sure to correctly select the transaction network (when applicable) – in our case, we used USDT on Ethereum’s ERC-20 standard.
From here, you can make quick, zero-fees transfers between the different internal accounts and fund your derivatives one. All you need to do is open the account, select the currency that you want to transfer, specify the amount, and confirm the operation:
Once this is done, you are ready to begin using the offered derivatives products. Let’s have a look at all of them.
How to Trade Bitcoin Options on Huobi?
Options contracts are one of the most popular derivatives, used constantly in traditional finance. Lately, there’s a huge demand for cryptocurrency options as well. However, keep in mind, derivatives and options are not recommended for beginners as they carry more risk.
Huobi Futures has a dedicated options platform where currently users can trade both Bitcoin and Ethereum options. In this guide, we will focus on Bitcoin.
By definition, an options contract represents an agreement between two parties to facilitate a transaction on the underlying asset (in this case – Bitcoin/USDT index), at a preset price (known as the Strike Price), prior to the expiration date.
Purchasing a CALL option means that the buyer has the right to buy BTC corresponding to the contract face value at the strike price. On the other hand, a PUT option means that the buyer has the right to sell BTC under the same conditions.
In the top left corner is where you select the type of Bitcoin options contract you want to trade with. For this example, we’ve used the Weekly BTC contract with a strike price of $8,500 and expiry on September 18th, and a leverage level of 5x.
Below is the board where you can monitor the prices for the different contracts based on their strike price factor.
As can be seen in this example, our contract costs around $2,400 to buy (bid). Huobi uses a system where traders can open positions based on contracts, where one BTC options contract equals 0.001 BTC or about $10 at current rates, as of writing this guide.
The par-value for a contract of ETH option equals 0.01 ETH, or about $3 at current rates. Unlike other margin exchanges, users can join options trading on Huobi with fairly low entry barriers.
Now, let’s see how to open a CALL position, as we assume the price of Bitcoin will close above the strike price of $8,500 on September 18th.
From the order menu, we’ve selected a price that we want to buy the contract at – it’s $2414 and the number of Contracts that we want to purchase, in this case, it’s the maximum amount of 25 contracts, which is about $250.
As soon as we hit the Buy Call button, our Limit order will be placed and when the Mark price of the contract reaches it, the order will be executed and we will have 25 Contracts ($10 each) giving us the right to buy Bitcoin at $8,500 (strike price) when the contract expires on September 18th.
If the price of Bitcoin is above $8,500, we will realize a profit, if it’s below that, we will lose the options premium.
If you want to close the position, you can specify the price at which you want to close and the overall amount of your position that you want to close.
Now, in this example, we’ve only shown how to buy a CALL option for Bitcoin, but users can also buy PUT options and they can sell contracts as well. For detailed information on how to do those operations, you can check the official guide.
How to Trade Bitcoin Futures on Huobi?
Moving on, Bitcoin futures are also available on Huobi. Here, users can buy these contracts and speculate on whether or not the price of Bitcoin will be above or below the current price on a pre-set date.
From the left pane, users can choose from a verity of the over 60 cryptocurrencies and the available futures contracts. For Bitcoin, Huobi offers weekly, bi-weekly, quarterly, and bi-quarterly contracts, and supports leverage up to 125x.
Basically, if you believe that the price of Bitcoin will be higher than the current price at the expiration date of a given contract, you should open a long (buy) position. If you think it’s going to be lower, you should open a short (sell) position.
How to Trade Bitcoin Perpetual Swaps
Perpetual swaps are probably the most popular cryptocurrency derivative instrument. They are like traditional futures with the exception that they don’t have an expiry date. In other words, traders can open and close them whenever they want to.
It’s worth noting that Huobi even offers USDT/USD perpetual swaps with leverage of 1X -1000X, becoming the industry pioneer in USDT derivatives.
Besides, for the non-stablecoins, traders can use perpetual swaps with extremely high leverage of up to 125X for BTC swaps and 75X for other swaps. In other words, you can open a position worth 125 times the amount you have in your account.
Huobi Futures offers different leverages such as 1x, 3x,5x,20x, 125x, and even 1000x. Users can choose freely according to their needs.
While this brings opportunities for big profits, please be aware that it’s also extremely risky as the slightest movement in the opposite direction of your position can liquidate your position, causing you to lose your capital. Using high leverage is definitely not recommended for inexperienced traders.
Huobi’s overall customer support is very satisfying. From our test experience, the team is very responsive and easy to communicate with.
Elsewhere, the KYC verification process is particularly quick. After we submitted the documents needed for the identity verification, the team took no more than a few minutes to have them checked and approved the account for trading.
Security: Is it Safe to Trade on Huobi Futures?
Huobi is one of the largest cryptocurrency exchanges in the world. It’s an established company with thousands of employees. While it’s never recommended to keep a large amount of crypto in an exchange, Huobi is regarded as being very safe to use.
The team has also added a myriad of additional security features that users can opt in to further protect their accounts. Of course, you should also beware of scam artists and phishing attacks.
Trading Fees on Huobi
When it comes to the trading fees, Huobi has various fees on its platforms, so let’s have a look at a detailed breakdown for individual traders:
- Futures Trading Fees
- Huobi Perpetual Swaps Trading Fees
- Huobi Options Trading Fees
It’s also worth mentioning that Huobi Futures also provides VIP Sharing Program and Market Maker Program to lower big user’s switching costs to Huobi. For example, Huobi options maker fee rebate is as high as 0.003 USDT per contract.
In general, Huobi is one of the most reputable exchanges out there and they live up to the statements. The customer support is quick and easy to communicate with, the exchange offers a range of different tools to accommodate the needs of various traders.
Their Bitcoin Options trading platform is convenient, rather intuitive, and easy to work with. There’s a range of different contracts with various leverage options and expiration dates.
Was This The 3rd Largest Hack In Crypto History? Data Shows $280 Million Drained From KuCoin
Newly aggregated data suggests that the hackers that recently compromised KuCoin’s hot wallets may have taken more than the estimated $150 million, as per the exchange’s report. Considering the updated numbers, the KuCoin hack would be the third-largest in history, with approximately $280 million stolen.
The KuCoin Hack: $280M Taken Instead Of $150M?
As CryptoPotato reported over the weekend, an unknown group of hackers exploited the hot wallets of the popular cryptocurrency exchange KuCoin. The platform quickly issued an official statement informing that the total amount stolen equaled $150 million worth of various digital assets.
Furthermore, KuCoin guaranteed that the exchange’s insurance fund will fully reimburse users.
However, the stolen amount could be significantly higher, according to the popular cryptocurrency researcher Larry Cermak. By examining wallets “very likely” associated with KuCoin, he estimated that the amount is actually $280 million, instead of $150 million.
He admitted that some of the tokens have been “frozen, forked, and blacklisted,” but the numbers he came up “don’t reflect that.” Consequently, Cermak questioned KuCoin’s ability to indeed cover the stolen funds from its insurance fund.
Cermak also offered a list of the coins “likely” to be recovered – Velo ($76 million), Tether ($22 million), Orion ($10 million), KardiaChain ($10 million), Ocean Protocol ($9 million), VIDT Datalink ($7 million), NOIA Network ($5 million), and Covesting ($600,000). This equals about 50% of all stolen funds.
Was This The Third-Largest Crypto Hack Ever?
If Cermak’s data is accurate, the KuCoin hack would be the third-largest to date in the cryptocurrency field.
The most significant one came in early January 2018. The victim was the Japanese digital asset exchange Coincheck.
After announcing that the platform has seized all NEM deposits, Coincheck later froze all NEM sales, purchases, and withdrawals. Later on, the exchange confirmed that perpetrators had swiped about $535 million worth of NEM. Interestingly, all stolen funds were grabbed again from the exchange’s hot wallets.
The second-largest hack occurred on maybe the most famous Bitcoin Japanese exchange – MT.GOX. In early 2014, the platform suspended all transactions, closed the site, and declared bankruptcy. A few months down the road, it became clear that MT.GOX was drained for about 850,000 Bitcoins – worth about $460 million at the time, and a lot more as of today’s BTC values.
According to a Tokyo-based security company that presented evidence in 2015, “most or all of the missing bitcoins were stolen straight out of the MT.GOX hot wallet over time.”
BTC Price Analysis: Is Bitcoin Ready To Break $11,000 As Crypto Market Cap Reclaims $350B?
Bitcoin price has finally broken bullish out of a 3-day channel (orange) and making good progress towards the psychological $11,000 level above.
The return of $9 billion to the global crypto market today has allowed BTC to return above $10,900 for the first time in 7 days and caused over $9 million worth of short liquidations on BitMEX – according to Datamish figures.
Avast majority of altcoins are also enjoying positive returns as Bitcoin lifts the rest of the market.
Despite the breakout, bearish traders are still putting up a strong fight right now. The $10,900 price point is seeing a lot of selling pressure bear down on the uptrend and is hindering Bitcoin’s current throwback rally attempt.
Price Levels to Watch in the Short-term
On the weekly BTC/USD, we can see that bulls are battling to break above the previous weekly open at $10,920. This is the first major resistance standing in the way of bitcoin’s progress towards $11K. Above this price point, we also have the $10,970 level which should create some friction in the uptrend.
Looking at the price action more closely on the 4-hour timeframe, we can see that bulls are trying to launch off from the 0.382 Fibonacci level at $10,832, which recently flipped from resistance to support. This is our first major support as BTC tries to reclaim $11K. If bears succeed in overcoming this key level, then we should expect to see prices fall back on the former channel resistance at around $10,810, and potentially dip back inside on to the 200 EMA (red) at $10,780.
Beneath that, we have the channel median line (dashed line) at $10,730 and the 50 EMA (blue) at $10,695 as additional supports.
Should bulls manage to break the $11,000 mark and maintain momentum, then the next test will be to conquer the 0.5 Fibonacci level at $11,150. With BTC already at 63 on the 4-hour RSI indicator, it’s possible that reaching this area will push the leading crypto into the overbought region and cause a sharp correction – be aware.
Total market capital: $353 billion
Bitcoin market capital: $201 billion
Bitcoin dominance: 57.0%
*Data by Coingecko
Bitstamp BTC/USD Weekly Chart
Bitstamp BTC/USD 4-Hour Chart
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
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