Keep your investments small, and never put crypto investments above any other financial goals like saving for retirement and paying off high interest debt.
Crypto Chase referred to the implications of sudden erratic price movements on exchanges, these serving to liquidate traders who should have retained their positions.
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A cryptocurrency is, most simply, a digital asset. It is called a currency because it was created to work as a medium of exchange in the same way that we use fiat currencies now.
(Bloomberg) -- To investors hunting for the next Dogecoin, the more than 19,000% price gain that cryptocurrency SafeMoon posted in its early weeks was like catnip. Though the price of the four-month-old token has dropped since then, more than 2.4 million investors have bought it, according to its developers.
Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.
It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
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Fun StuffRussell Alexander was wrongly advised he could keep the money and even bought a house.
But classifying crypto as an investment is complicated, too. It doesn’t quite fit the mold of a traditional stock or bond, and while cryptocurrencies do share characteristics of commodities like gold — they can be bought and sold for cash and as derivatives based on expected future value — they have no inherent physical value or use.
Binance.US also offers a large number of trading pairs. This includes options to trade two cryptocurrencies without the need to cash out one for USD, as well as options to trade between crypto and a fiat currency like USD. Different exchanges offer different trading pairs based on the cryptocurrencies they offer.
With all these shortcomings when put against most of the competition, Safemoon is definitely in trouble. There is a lot that Safemoon team needs to do to make the coin competitive. Otherwise, few people will be interested in this Safemoon. This means low demand, and that's how Safemoon's coin value will crumble.
Fast fact, altcoins games and metaverse tokens are showing user-driven, huge popularity, and their continued presence in the crypto industry these days. In fact, their presence has been well-felt since the beginning of this year.
IG offers trading on nine of the most valuable cryptocurrencies: bitcoin, bitcoin cash, bitcoin gold, ether, ripple, litecoin, EOS, stellar (XLM) and NEO.
Meanwhile, apart from regulatory attention, Binance is likely to get sued over a platform outage during a price crash on May 19. A Swiss crypto fund is financing litigation and a UK academic has made various allegations based on her research.
One key point to note about Safemoon crypto is that the developers haven’t really described any real-world use cases yet. The Safemoon protocol was hyped hugely by celebrities back in May, causing retail investors to jump on the bandwagon and push price higher. Following this, the price fell dramatically, leading many to claim that Safemoon was a ‘pump and dump’ scheme designed to make certain investors rich.
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