Cryptocurrency, the blockchain-based digital currency that has captured the interest of investors and financial service firms alike, has a challenging problem. It can be hard to actually spend this currency like you would regular money.
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Insurance and risk management for digital assets will increase investor confidence, said OneDegree.
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The blockchain technology backing cryptocurrency is inherently secure, thanks to the decentralized — and public — nature of distributed ledger technology and the encryption process every transaction undergoes.
"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.
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Both ideas are about making a few people rich, not about building a decentralised paradise where everyone prospers
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.
In fact, every newly created blockchain copy comes with a two-part monetary reward: a fixed number of newly minted (“mined”) cryptocurrency units, and a variable number of existing units collected from optional transaction fees — typically less than 1% of the transaction value — paid by buyers.
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Safemoon crypto recently began to spike in price after the developers announced a new cryptocurrency wallet. The Safemoon digital currency wallet is coming soon and the project has been heavily advertising it. With this extra string in its bow, many are rushing to invest in the native Safemoon altcoin.
Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
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So far, the main thing that has driven Safemoon has been the hype generated by celebrity backing. Celebrities such as Jake Paul, Afrojack, and Keemstar have also promoted the coin this year, leading to significant price increases.
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“This is a legitimate technology–it’s going to expand,” he says, “My longer-term view is nowhere near where some of [my current] views are.” It could even perhaps hit $10,000 again, he says. But that will probably take a few years. For now, we wait and see.