Bitcoin is increasingly viewed as a legitimate means of exchange. Many well-known companies accept Bitcoin payments, although most partner with an exchange to convert Bitcoin into U.S. dollars before receiving their funds.
Experts warn that these can sometimes be a sign of a scam and make it a very high risk investment.
.
Facebook’s closely guarded Libra project could be the first true cryptocurrency alternative to fiat currencies, although its growing pains suggest that true parity remains well in the future.
It remains to be seen if Decentraland turns into the next meme coin of choice for retail investors, but it has lately picked up some traction from Reddit users via threads.
But that doesn’t mean it’s completely secure in the same way most people consider the U.S. dollar or other established currencies to be secure. Since cryptocurrency isn’t backed by any governmental authority, it doesn’t have the same protections as many standard currencies throughout the world.
This week, Binance announced it is pairing up with BAM Trading Services — which Coindesk notes is FinCEN-registered and has links to Koi Compliance, which counts Binance as an investor — to launch a U.S. exchange “soon.” That will mean, however a level of disruption for some U.S. customers in the meantime.
All the signs, however, were there. Like previous bubbles, people were basing their belief in the cryptocurrency on their emotions, not any intrinsic value. Then there was the FOMO element, which only compounded things. Essentially, bitcoin became an international fever. Random companies were “pivoting to blockchain” for no apparent reason other than that it seemed like a way to create buzz. But when the bubble bursts, FOMO turns into fear of losing, which makes for an especially rapid plunge.
Bitcoin hit an all-time high of $68,530.34 early Tuesday, according to CoinMarketCap. That's just a few weeks after it hit a previous high of nearly $67,000 before sliding as much as 12%.
ServicesSign Up To The SunAbout UsEditorial ComplaintsClarifications and CorrectionsNews LicensingAdvertisingContact UsHelp HubTopic A-ZCookie SettingsContact Preferences
Subscribe to receive a weekly selection of 3 coins to watch closely, based on upcoming events and technical analysis.
Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.
A hardware "cold" wallet for safely storing and using your crypto. Meant as a better replacement with more features than competitors, and military grade encryption.
(Bloomberg) -- Crypto exchange Binance.US, whose chief executive officer recently resigned, just appointed a new president.
Many cryptocurrencies are built on blockchain technology, which is a distributed ledger enforced by a distributed network of computers. Cryptocurrencies are distinguished from fiat currencies like the United States dollar or the British pound because any central authority does not issue them, making them potentially impervious to government intervention or manipulation.
Binance.US will launch in partnership with a firm called BAM Trading Services, which was generally unknown until the announcement of the partnership and faceless until the appointment of former Ripple exec Catherine Coley as CEO, in July.
Brian Brooks comes onboard for the crypto unicorn as they prepare to go public in the next 12 months in what would be Europe’s biggest cryptocurrency valuation. The firm is also planning to expand its mining business.
According to Karony, SafeMoon could soon be listed on top cryptocurrency exchanges, increasing the accessibility of the token.