We’ll go through the several factors that influence demand for a particular crypto, but before we do that, it’s important to note that cryptocurrencies don’t fit comfortably into our existing asset categories.
The comparison of Binance vs Binance.US ultimately comes down to financial regulations in the United States.
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But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
There have been previous reports that Binance.US keeps users’ USD in FDIC-insured accounts, but posts on the Binance.US site containing that information have since been deleted. While it doesn’t guarantee the same in case of a Binance.US hack, the international version of the exchange, Binance, covered all consumer losses after a $40 million hack in 2019.
That lack of widespread adoption, plus crypto’s volatility, limits its use as a currency, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.
After a year of gains and record highs, crypto currencies are enduring a turbulent time with unpredictable price changes.
At the time of writing this review, Binance.US has supported seven cryptocurrencies, including:
In return for their services, they take a small cut of each transaction’s value — usually less than 1%.
Safemoon members are now joining competing crypto coins, like Bitrise, in thousands, and this could continue if Safemoon team does not address the fundamental issues. However, Safemoon remains as one of the strong crypto coins, but the dominance might be short-lived.
Responding to regulatory pressure, Binance has curbed some services on cryptocurrency bets, highly leveraged positions and trading with tokens linked to shares, and has pledged to beef up its compliance staffing.
Bitcoin is a good indicator of the crypto market in general, because it’s the largest cryptocurrency by market cap and the rest of the market tends to follow its trends.
While, theoretically, U.K. users are still able to fully use the platform, responding to the ruling, a number of U.K. banks, including Barclays and HSBC, have since banned their customers from depositing into Binance.
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A petition to 'Get Safemoon Listed On Coinbase' has currently gained 4,646 signatures.
The team announced a few days back that Safemoon whales had joined the coin. Since then, there has been an influx of new crypto members joining Bitrise coin. All these factors have significantly driven the market cap up by +$200 at the time of writing. But what are the underlying factors driving the huge number of investors joining Bitrise crypto coins every day?