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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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Users must face such restrictions when using Binance. Among countries to crackdown on the company are Hong Kong, Malaysia, and Lithuania. However, many countries do have full use of Binance, and these countries present opportunities for growth in these areas for the future.
From the rise of meme stocks to the increasing mainstream adoption of crypto, Wall Street has embraced once-fringe areas of investing and finance.
Thus, Binance.US will not initially support its projects such as BitTorrent (47th by market capitalization), Fetch.AI (207), Celer (180) and Matic Network (127), despite having these raise capital on the Binance Launchpad platform.
However, as the BBC reported, it was criticised for not allowing people to resell their tokens.
How does this latest crash compare to previous ones, or even to regular stock market drops — and what does it mean for investors?
Ether and bitcoin rallied on Tuesday to record highs off the back of a weaker dollar, taproot upgrade and positive investor sentiment.
“What differentiates SafeMoon is that they’re putting this out there in the open for everyone to see, and are not trying to hide the fact that’s how the system works,” he said.
Hank Wyatt, SafeMoon’s vice president of research and development, said in a Discord chat that the team will eventually “host an open beta” version before releasing the full application.
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In the meantime, the Indian government is considering a middle path on cryptocurrencies, as it finalises legislation on the virtual asset to be introduced in the upcoming winter session of Parliament. The hard-line stance for an outright ban of cryptos is not being found feasible in view of large investments in such instruments by Indians, and these unregulated virtual currencies are also unlikely to be allowed as a legal tender.
Binance.US is not available in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont. For people outside of those states looking to invest in crypto, Binance.US offers both an easy buy/sell interface and more advanced trading views. It has low fees, and further fee discounts for using its native currency, Binance Coin, and does offer some educational content through its on-site blog.
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
The price of Bitcoin was £48,199.49 after the latest drop in prices (11 November), according to Coinbase.