When formed by real members instead of bots—we’ll get to that in a second—these communities are unofficial and unpaid public relations departments continually working in favour of the reputation of the projects they support.
On Oct. 21, Binance.US suddenly printed a one-minute candle that took BTC/USD from $65,815 to $8,200 — a drop of 87%.
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Buy-back: Another feature that attracts customers the most is its robust price stability, provided by its efficient multiple buyback feature. By taxing 3% on every traction to support the buyback feature, EverGrow sends these tokens to a particular wallet, known as a 'buyback wallet.' These tokens are immediately removed from the circulating supply boosting the price and producing green candles on the price chart.
Ripple also put heavy investments into non-fungible token projects using the XRP ledger – a public blockchain. Many experts claim that this investment puts Ripple in the position to be an “Ethereum killer.”
Income tax: Profits and losses from cryptocurrency transactions must be shown in a non-incorporated business’s accounts and are taxable/allowable under conventional income tax laws.
Binance has become a favorite among traders because of its low trading fees. Exchanges charge trading fees for actions such as exchanging currency and margin trading. Binance fees are structured in levels so that the higher volume you work at, the less you pay per trade. In addition, Binance offers fee reductions for referrals of new users.
Bitcoin operates on its own blockchain, and so does Ether. The Binance Smart Chain is a separate blockchain that inherits many software features and protocols from the Ethereum network. One feature of the Ethereum network (and thus also the BSC) is the ability to host software programs (called smart contracts).
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All the signs, however, were there. Like previous bubbles, people were basing their belief in the cryptocurrency on their emotions, not any intrinsic value. Then there was the FOMO element, which only compounded things. Essentially, bitcoin became an international fever. Random companies were “pivoting to blockchain” for no apparent reason other than that it seemed like a way to create buzz. But when the bubble bursts, FOMO turns into fear of losing, which makes for an especially rapid plunge.
Support for users of both platforms definitely needs some improvement. Currently, the support provided by Binance beats that of Binance.US. With the restriction limiting U.S. users to this platform, many choose to shift their accounts to other crypto exchanges completely.
In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
A feature of the Ethereum network is that it enables its users to create decentralised apps, known as ’dapps’, and smart contracts.
Leading crypto players in India likely to meet with Indian government next week to give inputs
Crypto-marketing. A scheme in which promoters of securities tied to cryptocurrencies recruit investors to pitch the investments, often to friends and family and through social media and blogs. In return, these investors are promised a generous return plus the promise of commissions on their sales.
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