At IG, our markets for bitcoin, bitcoin cash, ether and litecoin are quoted against the US dollar. This is how you’ll usually see these cryptocurrencies quoted elsewhere, too.
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Yet some crypto watchers have raised red flags over SafeMoon’s unusual structure. It charges a 10% fee to buy tokens and another 10% to sell -- almost unheard of in the digital currency world. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Critics also worry about the discretionary nature of the “manual” coin burns used to adjust its circulation.
More broadly, the U.S. has been slow to issue regulatory guidance for cryptocurrency businesses. The industry has generally appreciated regulators' care and caution to avoid hampering innovation or overregulating something so misunderstood, but the lack of clarity has also become restrictive for many looking to operate, develop, and grow their products and services. But Zhao appears to be undaunted by that.
Last Tuesday, Squid was trading at just 1 cent. In less than a week its price had jumped to over $2,856.
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.
As explained in its roadmap, the SafeMoon team hope to begin a "community listing donation raise for several exchanges" in Q3 2021. As of July 21, this has not yet started.
Security is the highest priority for us when it comes to safeguarding your funds. Store your crypto safely with the Binance.US app.
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Currently, the price of Safemoon is hovering around the $0.0000014 level. This is around 90% down from the heights the coin reached in April 2021.
Ultimately, many experts believe regulation is a good thing for the industry. “Sensible regulation is a win for everyone,” says Ben Weiss, CEO and cofounder of CoinFlip, a cryptocurrency buying platform and crypto ATM network. “It gives people more confidence in crypto, but I think it’s something we have to take our time on and we have to get it right.”
Satoshi Nakamoto. A pseudonym for an individual or group that introduced Bitcoin in late 2008 in a white paper published via a mailing list for cryptography. To facilitate transactions, bitcoins can be divided into miniscule units. For example, there are units as tiny as a millionth of bitcoin, or even a hundred-millionth of a bitcoin, which is called a satoshi.
SAN SALVADOR, El Salvador (AP) — Salvadorans trying to pay for a cup of coffee or receive money sent from relatives in the United States using the cryptocurrency bitcoin continued struggling to perform transactions Wednesday, a day after El Salvador made it legal tender.
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Newly elected mayor Eric Adams says he'd like his first three paycheques in the cryptocurrency.
Binance uses a tiered fee structure, which clearly shows how much customers will pay in trading fees based upon their level.