Safemoon offers a unique way of investing in cryptocurrency, as people who hold Safemoon and then sell it are subject to a 10% fee. This fee is halved, with 5% of it being given back to other Safemoon holders – the developers call this ‘reflection’. The additional 5% is split again, with 2.5% being used within the liquidity pools on exchanges such Pancake Swap, with the other portion being converted into BNB.
In June, SafeMoon launched a beta version of SafeMoon Wallet, a place for storing and trading coins and required applicants to sign non-disclosure agreements.
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There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
The U.S. MSB license is one of the most sought-after licenses in the digital currency trading space. All institutions that grant monetary exchange and sending services in crypto must have this license, and 4JNET has been awarded this license. This has boosted 4JNET as a trustworthy, first-class platform for global investors who understand the importance of the license.
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Bitcoin and some other cryptocurrencies’ values have skyrocketed in recent years. Bitcoin’s price has more than doubled in 2021, and Ethereum has more than quadrupled in value this year.
Any claims that a particular cryptocurrency confers total anonymity or immunity from legal accountability are worthy of deep skepticism, as are claims that individual cryptocurrencies represent foolproof investment opportunities or inflation hedges.
Even after falling back from its latest all-time high price, Bitcoin’s current price still represents a big upswing from the low $40,000 range seen in September.
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Additionally, because there is no physical product or centralized organizing body, it is hard to point to anything and say “see, that good thing happened, crypto values will increase now”. So how does cryptocurrency gain value?
Cryptocurrencies, or virtual currencies, are digital means of exchange created and used by private individuals or groups.
BEIJING (AP) — China’s biggest banks promised Monday to refuse to help customers trade Bitcoin and other cryptocurrencies after the central bank said executives were told to step up enforcement of a government ban.
Disclosure: At the time of writing, the author of this feature owned BTC and ETH.
Its competitors, Dogecoin and Shiba Inu faced several lows for months and years straight but are at a different position now. SafeMoon could walk the same path as its competitors and would find a ‘breakout’ all of a sudden.
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In the meantime, if you’re looking to invest in alternative cryptocurrencies, then we’d recommend eToro. eToro is one of the world’s largest online brokers and has over 20 million users globally. What’s more, eToro is regulated by the FCA, ASIC, and CySEC, allowing you to trade safely.
In many ways, 2021 has been a “breakthrough,” says Dave Abner, head of global development at Gemini, a popular cryptocurrency exchange. “There’s tremendous focus and attention being paid to [the crypto industry].”