New Delhi: Prices of the world’s most popular cryptocurrency Bitcoin and Ether have surged to new highs in Asia trade, according to a Reuters report. The more and more acceptance of cryptocurrency and apprehensions about inflation have bolstered the Bitcoin and Ethereum prices in the trading market, the Reuters report said.Also Read - Bitcoin vs Britcoin: Bank of England Reveals Launch Timeline of UK's Own Cryptocurrency
According to Karony, other future plans include a yet-to-be-unveiled initiative that’s “fuel to the freedom of the un-banked.” And while SafeMoon was created on the Binance Smart Chain blockchain, the company said that it’s in the process of launching its own exchange platform this summer to establish a liquidity pool.
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For many people, crypto is a type of alternative investment. Just as you can buy and trade stock in public companies, you can buy cryptocurrency with the hope that it will increase in value over time, allowing you to cash out for a profit at a later date. Some people invest in crypto less for the belief that it will become a popular currency and more as a bet on the blockchain technology behind it.
Bitcoin nears $70,000, while ether eyes $5,000 as the rally extends into a fourth day, aided by a weaker dollar and upbeat investor sentiment
Cryptocurrency — also known as crypto — is a digital currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions, as well as to control the creation of new units of a particular digital currency.
No matter where you buy it, cryptocurrency is a highly volatile, speculative investment. Only invest in crypto what you’re prepared to lose, and make sure you have other financial priorities in place first: save money in an emergency fund, contribute to retirement savings, and pay off any high-interest debt balances.
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"After hitting fresh milestones and hitting new ATH’s backed on the US CPI Inflation figures for October, traders began to book profits," it added. "Such corrections do not seem to be a major cause of concern just yet."
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Although you can create another private key and start accumulating cryptocurrency again, you can’t recover the holdings protected by your old, lost key.
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Some security tokens are linked to an external tradable asset, and you can feel relatively comfortable assessing them as a more volatile relative of traditional shares, perhaps using a similar framework to the one you’d employ for penny stocks.
If you don't particularly want to wait for a potential SafeMoon listing on Binance, Coinbase, or another exchange, there are alternative ways to buy SafeMoon.
One key point to note about Safemoon crypto is that the developers haven’t really described any real-world use cases yet. The Safemoon protocol was hyped hugely by celebrities back in May, causing retail investors to jump on the bandwagon and push price higher. Following this, the price fell dramatically, leading many to claim that Safemoon was a ‘pump and dump’ scheme designed to make certain investors rich.
"Nevertheless, with central banks likely to begin raising rates and tapering its stimulus package, investors are looking for a store of value that is perhaps less susceptible to these changes.
"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.