Keep your investments small, and never put crypto investments above any other financial goals like saving for retirement and paying off high interest debt.
“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it — they were excited to be so popular.”
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Since trading fees do not directly relate to the products traded, U.S. regulations do not apply to the fees Binance.US charges. As a result, Binance.US offers the same low fees and discounts as its parent company. Binance.US is one of the market leaders in the United States in terms of low fees, even without considering the discounts.
Despite the massive swing in value on the Binance US exchange, Bitcoin’s value on other exchanges remained stable. There has been speculation on the exact cause of the spike, though Binance offered a short statement to Bloomberg explaining that one of its institutional traders was responsible.
It has a shorter blockchain creation time (one minute) and a vastly greater number of coins in circulation — the creators’ target of 100 billion units mined by July 2015 was met, and there’s a supply limit of 5.2 billion units mined every year thereafter, with no known supply limit.
While it shares characteristics of both currency and investments, there’s still debate among experts about whether cryptocurrency is clearly one or the other.
In the U.S., Binance has been the subject of an investigation by the Commodity Futures Trading Commission, which is probing whether the platform allowed users to trade derivatives, Bloomberg reported in March, citing sources familiar with the matter. The CFTC investigation is directed at Binance, even though Americans must use Binance.US instead. And in May, the Department of Justice and Internal Revenue Service commenced money laundering investigations related to the company.
New workplaces, new food sources, new medicine--even an entirely new economic system
Ken Griffin thinks bitcoin will be replaced by ethereum and says the Reddit-fueled conspiracy theories about his involvement in the GameStop saga are like a bad SNL joke
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The SafeMoon price climbed 46,533% from the launch to peak at $0.00001399 on April 20th before falling back down to its original value of $00000361 by May 2nd, when it rebounded once again.
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And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
WORTH THE DRIVE: Shop, sip and snack at hundreds of specialty booths at Cincinnati holiday market