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.
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How does this latest crash compare to previous ones, or even to regular stock market drops — and what does it mean for investors?
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.
Stablecoins peg their values to various fiat currencies or assets, such as gold. Most often pegged one-to-one with the U.S. dollar, stablecoins give users a way to sell into an asset carrying the same value as a national currency, but one that can still be transacted and stored in a crypto-esque fashion within the ecosystem.
The good news for U.S. customers is that Binance.US does offer the same low trading fees that its parent company, Binance, does. The only slight difference is that the US exchange offers 10 VIP levels whereas the international platform only has 9 VIP levels. However, for almost all traders, that won't make a difference.
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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.
Zhao tweeted on Friday "I remain confident in Binance.US’s business and its commitment to serve its customers and innovate." He added that "this transition will not impact Binance.US customers in any way." post share tweet print email Filed Under: Retail, Regulations & Policy Editors' picks Card companies go green, but hurdles remain
Like many other meme-based altcoins, Safemoon is a very high-risk investment. If you’re game, read on and find out how to buy Safemoon tokens of your own.
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— Mary Elizabeth Gately is representing the king at a rate of $1,335 per hour, according to a copy of the contract submitted to the department that was dated Sept. 20 and signed on Sept. 29, days before the consortium published a series of reports on Sunday. The king was just one of hundreds of global elites whose financial secrets were included in the Pandora Papers, the consortium’s latest trove of documents, though his attorneys denied to the ICIJ that he had done anything improper by purchasing the homes through offshore companies.
Reported Volume calculates volume from all exchanges with market pairs, but due to factors such as wash trading, it is considered an unreliable metric.
Despite those benefits, Binance.US is much less transparent than many competitor exchanges when it comes to security, storage options, and customer assistance. For most long-term, retirement-minded investors, we’d recommend sticking with exchanges such as Coinbase or Gemini, which are much more transparent about these key operations.
The price fluctuations came as conflicting reports on whether Chinese property giant Evergrande had "defaulted" on its loan surfaced.