GARY GENSLER: This asset class is rife with fraud, scams and abuses in certain applications. There's a great deal of hype and spin about how crypto assets work.
It is pretty easy actually. The entire process involves five key steps. They are: a) Choose a crypto exchange; b) Create your account and verify it; c) Deposit the fund and start investing; d) Place you order to buy desired cryptocurrency, e) Select a storage method. However, there are also other ways to invest in cryptocurrencies. These include crypto ETFs (similar to those of gold and other ETFs) or investing in cryptocurrency-related stocks. These options are not so mainstream yet.
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Here are some cryptocurrencies that may be unworthy of a slot in your investment portfolio:
Binance and Coinbase listings remain a coveted goal for new cryptocurrencies such as SafeMoon. However, it can take some time to achieve this. For example, Coinbase only listed Shiba Inu Coin in mid-June.
When the hard fork arrived–and participants had to choose which path to take–the entire cryptocurrency market dropped. This is very likely what caused bitcoin to drop from the $6,000 range to around the $3,000-$4,000 range. Which brings us to today, with the cryptocurrency bottoming out at less than 80% of what it was a year ago.
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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.
Bitcoin price recently recorded a new all-time high at near $69,000 on November 10 fueled by sustained inflation. The argument that the leading cryptocurrency is a hedge against rising cost pressures has been fueled by inflationary fears. More Bitcoin News Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive
One follower recommended meme coin Dogecoin, in response to which Karony said that he is also a fan and they are “working on implementation.” Others requested stablecoin Tether, while yet another follower requested a feature that warns users if they are about to transfer funds to “flagged scam BSC or ETH addresses.”
Consumers could easily assume the advertising of unregulated cryptos has cleared tough hurdles More Cryptocurrencies
SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
“We do it in the equity market, we do it in the bond markets, people might want it here,” Gensler said at the Aspen Security Forum over the summer.
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ST. MARTIN, Miss. (AP) — A south Mississippi church is allowing parishioners to give offering or pay tithes using cryptocurrency.
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Unlike traditional payment processors, such as PayPal and credit cards, most cryptocurrencies have no built-in refund or chargeback functions, although some newer cryptocurrencies have rudimentary refund features.