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.
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So the product rewards people who hold onto it instead of trading it. By doing this, it implements a 10 percent penalty tax fee.
Over the last 24 hours, Ether (ETH), the currency for the Ethereum network, went from ₹3,86,457 to ₹3,80,498, with a market cap of ₹41.7T. In the same time, Litecoin (LTC) moved down from ₹23,859 to ₹21,497, a change of -9.90%, with a market cap of ₹1.4T. Ripple, or XRP, is another hugely popular token, with a market cap of ₹4.3T. In the last day, its value has changed -7.36%, moving from ₹105.61 to ₹97.85.
Bitcoin’s (BTC) price hit another all-time high at $69,000, while Ether (ETH) continued its long slog toward $5,000 after reaching a new high at $4,868 earlier on Wednesday. Shortly after hitting this fresh milestone, however, traders began taking profit, leading to a nearly $7,000 drop, which plunged BTC’s price below $63,000.
Cryptocurrencies are inherently cryptic — it’s right there in the name. And if you follow Warren Buffett’s advice to never invest in businesses you can’t understand, it may be hard to justify investing in a currency made of math instead of gold.
Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".
The process of collecting cryptocurrency as a reward for solving complex functions and recording data to a blockchain is referred to as cryptocurrency mining.
Although Coinye’s peer-to-peer network remains active and it’s still technically possible to mine the currency, person-to-person transfers and mining activity have collapsed to the point that Coinye is basically worthless.
The SafeMoon community also has their sights set on a “cool exchange listing” that according to SafeMoon CEO John Karony cited by the SafeMoonWarrior Twitter account will be coming soon. In addition, SafeMoon investors are anticipating a couple of key events, including an expanded crypto wallet and the launch of a crypto exchange.
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Bitcoin nears $70,000, while ether eyes $5,000 as the rally extends into a fourth day, aided by a weaker dollar and upbeat investor sentiment
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Transfer USD to your Binance.US account for no feeSet a market or limit order trade for USD to Bitcoin for a 0.1% fee
Meanwhile, apart from regulatory attention, Binance is likely to get sued over a platform outage during a price crash on May 19. A Swiss crypto fund is financing litigation and a UK academic has made various allegations based on her research.
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.