There can be plenty of new cryptocurrency that can pop up and become popular all of a sudden which can confuse investors and those interested in cryptocurrency. One of the newest cryptocurrency that has come to the scene is SafeMoon which has seen a massive increase in interest lately.
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While no official announcement by either of the companies in question has been made in regards to a partnership, social media is full of users waiting for the statement.
There are so many areas that Safemoon falls short. In products, there is so much competition that Safemoon receives from Bitrise cryptocurrencies. For example, the Safemoon wallet is considered inferior to the Bitrise dApp wallet.
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A further blow was dealt when China ordered Bitcoin mining in its Sichuan province to shut down completely and furthermore told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.
SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.
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In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
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At the moment, it is too early to say if Binance.US will employ security technologies from the global Binance platform which are usually described as being solid, despite a major hack this platform suffered in May 2019. Yet, the platform also responded to this incident in a generally well-received and timely manner.
Yet tales of meme-coin holders becoming millionaires have attracted new waves of retail investors to crypto — along with a growing number of nefarious players. In May, the Federal Trade Commission tallied a record number of crypto investment scams, with Americans’ losses totalling around US$80 million since October.
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Investing is always a risk but investing in cryptocurrency is an even higher risk as they are VERY volatile.