In fairness, this is not due to any failing from Binance.US specifically, but rather, is due to the regulatory hurdles it must contend with. That being said, Binance.US currently has 53 cryptocurrencies (including stablecoins) available for trading.
Crypto exchanges on a growth path shared a few common traits: they're larger, more innovative and offer more digital assets than their competitors.
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“One of our institutional traders indicated to us that they had a bug in their trading algorithm, which appears to have caused the sell-off,” Binance.US said in the statement. “We are continuing to look into the event, but understand from the trader that they have now fixed their bug and that the issue appears to have been resolved.”
Coinye was developed under the original moniker “Coinye West” in 2013, and identified by an unmistakable likeness of hip-hop superstar Kanye West. Shortly before Coinye’s release, in early 2014, West’s legal team caught wind of the currency’s existence and sent its creators a cease-and-desist letter.
Like all cryptocurrencies, the majors are digital assets that secure and verify transactions using computer science and complex mathematics, known as cryptography. Unlike traditional (‘fiat’) currencies, they are not currently issued or backed by a central authority such as a government. Instead, they run across a network of computers and are underpinned by blockchain technology – a permanent record of transactions that cannot be altered without the consensus of the network.
Coins are designed to be used as a kind of currency and are created on their own blockchain. For example, Ether is a cryptocurrency based on the Ethereum blockchain.
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.
Recent proposed legislation could make it easier for the IRS to find cases of tax evasion when it comes to crypto, though investors should already keep records of any capital gains or losses on their crypto assets. But the new rules may also make it easier for investors to properly report crypto transactions.
Bitwise’s chief investment officer explained why the firm has decided to drop its Bitcoin futures ETF and focus on the spot Bitcoin ETF.
These protocols also mask the identities of cryptocurrency users, making transactions and fund flows difficult to attribute to specific individuals or groups.
That can mean serious savings for investors, especially compared to some other exchanges. For example, if you want to buy $100 worth of Bitcoin on Coinbase, you’d actually end up with about $96.51 in Bitcoin, after fees. On Binance.US, you’d still have $99.99 to purchase Bitcoin after accounting for the 0.1% fee.
Cochrane, J. H. (2011), “Discount rates”, The Journal of Finance 66 (4), 1047–1108.
Hank Wyatt, SafeMoon’s vice president of research and development, said in a Discord chat that the team will eventually “host an open beta” version before releasing the full application.
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Registering an account on Binance.US is a relatively straightforward affair and includes providing a user’s email address and password and interacting with a verification email.
You can also buy Safemoon from a centralized exchange like BitLink that lists Safemoon for sale.
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