When new cryptocurrencies enter the market, often there isn’t much information about what they do or who their development team are. Thus, investors must read between the lines to determine whether the crypto is a viable investment or not. With that in mind, let’s dive into what SafeMoon is and its price history.
It is pretty easy actually. The entire process involves five key steps. They are: a) Choose a crypto exchange; b) Create your account and verify it; c) Deposit the fund and start investing; d) Place you order to buy desired cryptocurrency, e) Select a storage method. However, there are also other ways to invest in cryptocurrencies. These include crypto ETFs (similar to those of gold and other ETFs) or investing in cryptocurrency-related stocks. These options are not so mainstream yet.
.
The value of cryptocurrency is also driven by scarcity. This alludes to the cryptocurrency’s finite mechanism. The Bitcoin protocol sets the maximum amount of BTC that can be mined at 21 million. Therefore, as more people enter the crypto space, Bitcoin’s scarcity will inevitably increase, causing its price to increase. Some coins also use the burning mechanism to increase their value by destroying a portion of the supply.
Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
But of course you'll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
News Technology Gaming Business Entertainment Sports Science / Health
“Bitcoin has outperformed gold, the most widely regarded inflation hedge, by a considerable margin year-to-date, having gained over 130% compared with gold’s 4% decline.”BTC/USDT daily chart: Source: TradingView
EnergyFinancialsHealthIndustrialsMediaProfessional ServicesRetail & ConsumerTech SectorTelecomsTransportTech
Before joining the OCC, Brooks worked as the chief legal officer for Coinbase, a major competitor to Binance.US.
Navigation menuNewsShow moreMiddle EastAfricaAsiaUS & CanadaLatin AmericaEuropeAsia PacificClimate CrisisFeaturesEconomyOpinionVideoMoreShow moreCoronavirusInvestigationsInteractivesIn PicturesClimateScience & TechnologySportsPodcasts
CryptocurrenciesCalendarsTrending TickersStocks: Most ActivesStocks: GainersStocks: LosersTop ETFsFuturesWorld IndicesCurrenciesTop Mutual FundsOptions: Highest Open InterestOptions: Highest Implied VolatilityUS Treasury Bonds RatesCurrency Converter
Read MoreBest cryptocurrency 2021: top performing crypto coins, Bitcoin and Dogecoin price - and is it safe to invest? Will crypto recover? When cryptocurrency market and price of Bitcoin could bounce back – latest crash explainedPayPal crypto UK: how to buy and sell Bitcoin and other cryptocurrency via payment app - and is it safe?
There are also individual withdrawal fees for moving your crypto holdings from your Binance.US account into your own crypto wallet. These fees vary based on the type of cryptocurrency.
New Delhi: Major cryptocurrencies witnessed a fall on Thursday amid global inflation concerns, which made other currencies and gold attractive. Barring Solana, all other nine out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. Cardano, Dogecoin and Polkadot shed up to 5 per cent each.
Marketplaces allow users to promote their NFTs, where buyers can browse through and bid on what they would like to purchase.
The crypto prices today are trading in the red as Bitcoin, as well as the altcoins, have retreated after a strong week of rallies to new all-time highs.
This cryptocurrency is also available and is traded on Coinbase – one of the world’s largest crypto exchange platforms. This accessibility is another reason why it’s an appealing investment option.