LifestyleMoneyWhy is crypto down today? Cryptocurrency market crash, China ban - prices of Bitcoin, Shiba Inu and Ethereum
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This gives sellers an incentive to charge transaction fees, since they get paid faster by doing so, and so it’s fairly common for cryptocurrency transactions to come with fees.
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The supply of a cryptocurrency depends on how many new coins are being mined and how many current owners want to sell their coins.
Also, several businesses now receive bitcoin as payment for goods and services – another reason why it is a wise investment. For instance, Visa transacts with BTC, and in February, Tesla announced that the company has invested $1.5 billion in BTC and will also be accepting it as means of payment for its cars. Additionally, the large banks are already incorporating BTC transactions in their offers too.
Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Solana, Binance Coin fall; XRP jumps 9%
In late 2012, WordPress became the first major merchant to accept payment in Bitcoin. Others, including online electronics retailer Newegg.com, Expedia, Microsoft, and Tesla followed. Countless merchants now view the world’s most popular cryptocurrency as a legitimate payment method.
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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:
Pips are the units used to measure movement in the price of a cryptocurrency, and refer to a one-digit movement in the price at a specific level. Generally, valuable cryptocurrencies are traded at the ‘dollar´ level, so a move from a price of $190.00 to $191.00, for example, would mean that the cryptocurrency has moved a single pip. However, some lower-value cryptocurrencies are traded at different scales, where a pip can be a cent or even a fraction of a cent.
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That 90-day period ends September 12, so that’s effectively the deadline for Binance to launch its new U.S. exchange if it is to avoid impacting its American user base.
Functionally, most cryptocurrencies are variations on Bitcoin, the first widely used cryptocurrency.
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The plunge occurred at 7:34 a.m. New York time, according to the Binance.US website. Volume on the exchange in that minute was 592.8 Bitcoin, which are worth just shy of $40 million at current prevailing prices.