Black CountryShaun Bailey MP, West Bromwich West, asked the official: "Have you been to the Black Country?"
You may be wondering what to make of cryptocurrency and whether it has a place in your portfolio. But if you’re not familiar with digital currencies or blockchain technology, even the basic concept can be overwhelming.
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Some cryptocurrencies, like Bitcoin, have a finite number of coins that help to generate demand and reinforce their perceived worth. For example, the maximum supply of Bitcoin is capped at 21 million, as determined by the Bitcoin's creator(s).
The global cryptocurrency market cap has grown by 2.63 percent over the previous day to $2.94 trillion, data from coinmarketcap.com shows.
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If you use a dollar cost averaging method to regularly invest, these savings can be significant in the long run. But while it’s important to pay attention to an exchange’s fee structure, experts say that it may be worth it to pay more in fees for more advanced security, usability, or other features.
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The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
Indeed, following its nearly $20,000 peak, bitcoin in early 2018 dropped to around $10,000 and hovered there for a while.
Virtual currencies. Like fiat currency, virtual currencies such as Bitcoin, Litecoin, and Ether are intended as a medium of exchange that enables two parties to transact business. But there are important differences: No physical coins or bills. Virtual currencies exist only in computer code. Except for visual representation of Bitcoin and altcoins in advertising and displays, and coin-like tokens that may be produced for marketing purposes, there are no actual coins or bills. Not legal tender. Virtual currencies are not legal tender and are not issued or backed by a government. However, many virtual currencies, which are called convertible virtual currencies, can be redeemed for fiat currency on a number of exchanges. No regulation. Virtual currencies are not regulated by any government agency or authority. However, regulation is being considered, especially where virtual currencies function as securities when they’re used to raise capital and when traded on exchanges.
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Bitcoin’s price has taken a wild ride so far in 2021, and in November set another new all-time high price when it went over $68,000. This latest record high follows previous high points over $60,000 in April and October, as well as a summer drop to less than $30,000 in July. This volatility is a big part of why experts recommend keeping your crypto investments to less than 5% of your portfolio to begin with.