The above prices are as of 01.09 pm IST on November 9 (Data courtesy: coinmarketcap.com).
Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.
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Chargeable gains: Gains and losses on Bitcoin or other cryptocurrencies (which are not within trading profits) are chargeable or allowed for capital gains tax if they accrue to an individual, or for corporation tax on chargeable gains if they accrue to a company.
The global cryptocurrency market cap has grown by 2.63 percent over the previous day to $2.94 trillion, data from coinmarketcap.com shows.
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Just like you shouldn’t let a price drop influence your decision to buy crypto, don’t let a sudden price increase alter your long-term investment strategy. Even more importantly, don’t start buying more crypto just because the price is rising. Always make sure your financial bases are covered — from your retirement accounts to emergency savings — before putting any extra cash into a speculative asset like Bitcoin.
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International Chess Federation becomes the first-ever global sports body to launch its NFT marketplace
Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.
"In fact, open pump and dump schemes are rampant in the crypto world, with investors often jumping in with eyes wide open, perhaps hoping that they can ride the wave and dump their holdings for a quick profit before prices collapse," he said.
HUH Token has not been released onto the cryptocurrency market as of yet. This of course means that speculation will have to be made regarding its market price and the potential profit that a $1000 investment could make you.
But how high will Bitcoin go? Bitcoin’s past may provide some clues, according to Kiana Danial, author of “Cryptocurrency Investing for Dummies.”
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