People considering investing in Bitcoin or shares and stocks have also been warned over "risky" tips being shared on TikTok.
Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
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Research shows the US taking the top spot for global mining following a crackdown in China.
Functionally, most cryptocurrencies are variations on Bitcoin, the first widely used cryptocurrency.
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This breakout happened in the recent weekend and consequently the uptrend resumed and Bitcoin is now on way to challenge its previous life high yet again.
The blockchain technology backing cryptocurrency is inherently secure, thanks to the decentralized — and public — nature of distributed ledger technology and the encryption process every transaction undergoes.
Cryptocurrency trading involves speculating on price movements via a CFD trading account, or buying and selling the underlying coins via an exchange. Here you’ll find more information about cryptocurrency trading, how it works and what moves the markets.
When Ethereum and Bitcoin crashed, these “discount plays” tanked. Now, as the mainstream plays begin to build momentum, these cryptos are struggling to get off the ground and make space for their own identities.
Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
Unlike other cryptocurrencies, SafeMoon claims it will reward people who buy its token and hold on to it rather than trade - for which there are penalties in place.
Apple CEO Tim Cook says that while the tech giant is looking into cryptocurrencies, there are no immediate plans to adopt it as a form of payment on Apple Pay for the company's products. Rich millennials to financial advisers: Thanks for the golf invite, but you can’t invest my money
Cryptocurrencies and decentralised finance tokens are also highly volatile, so your cash can go down as well as up in the blink of an eye.
Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money.
CryptoTV by CoinSwitch Kuber | Anirudh Rastogi-Founding and Managing Partner - Ikigai Law