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Meanwhile, even the most enthusiastic bitcoin evangelists are realizing that a retooling is in order. Michael J. Casey, a senior adviser for blockchain research at MIT’s Digital Currency Initiative, recently wrote about how the crypto-winter has arrived, but it may lead to better things down the line:
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Its market cap and individual unit value consistently dwarf (by a factor of 10 or more) that of the next most popular cryptocurrency. Bitcoin has a programmed supply limit of 21 million Bitcoin.
"Play-to-earn" cryptocurrency is where people buy tokens to use in online games and can earn more tokens which can later be exchanged for other cryptocurrencies or national currencies.
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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.
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In the meantime, cryptocurrency users (and nonusers intrigued by cryptocurrency’s promise) need to remain ever-mindful of the concept’s practical limitations.
There is no publicly available information about what percentage of assets held by the exchange are kept in secure, offline cold storage vs. online hot wallets, or if there is an insurance policy that protects investors. You must have a Binance.US account to send queries to the help desk, so we were unable to get more information that way.
Keep your crypto safe and access your funds seamlessly with the Binance.US multi-crypto wallet. USD deposits are protected by FDIC insurance.
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The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]
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Now that you're familiar with the basics of both Binance and Binance.US, let’s cover some specific topics that you’re interested in.
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