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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.
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It was originally known as the Matic Network when it first launched back in 2017.
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The funding was intended as the first step towards a future IPO, which Binance still claims is on the cards. Notably, Brooks lost out on the Coinbase IPO when he left to join the OCC. When he took on the OCC role in April 2020, he received $4.6 million for canceling his Coinbase options contract. Just a year later, the stock owned by Paul Grewal, his Coinbase replacement, was worth $300 million when Coinbase was listed.
Compare cryptocurrencies based on their price, market capitalization and volume over 1 hour, 24 hours, 7 days, 30 days, 90 days, 1 year and total time in market. Put crypto side-by-side and follow changes and improvements over time.
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Cryptocurrency is an asset that can be exchange for goods and services, much like normal money.
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Binance.US can grab investors’ attention with lower fees than many other cryptocurrency exchanges, but we’d recommend paying a bit more for added transparency.
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One of the key principles of smart investing is: Never invest in anything you don't understand.
Find out more about how we can help your cryptocurrency trading, allowing you to take advantage without needing to own a wallet.
“I’ve been through the 2017 cycle, too,” Yang says, referencing the ‘crypto crash’ of 2017 that saw many major cryptocurrencies, including Bitcoin, lose major value. “I know that these things are super volatile, like some days they can go down 80%.”