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.
However, as the BBC reported, it was criticised for not allowing people to resell their tokens.
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You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
Play iconA circle surrounding a triangle pointing right. It indicates, "this type of media can be played."Crypto investing: All you need to know!
The Biden Administration Wants New Legislation to Regulate Stablecoins. Here’s What That Means for Investors
Before you trade money for crypto, you’ll need to deposit — and when you sell, withdraw — U.S. dollars into and out of your Binance.US account. The fees for this are minimal, especially if you transfer from your bank account using ACH.
Citation: Phillips RC, Gorse D (2018) Cryptocurrency price drivers: Wavelet coherence analysis revisited. PLoS ONE 13(4): e0195200. https://doi.org/10.1371/journal.pone.0195200
The choice of Binance vs Binance.US is quite a simple one. Binance.US is for residents and citizens of the United States. It is one of the largest crypto exchanges in the U.S. by trading volume. To comply with U.S. regulations, not all the functions of the international Binance exchange are available on Binance.US. However, the fees are equally low, and the liquidity is more than enough for most users. If you are in the United States and want to use Binance, Binance.US is the only fully legal way to do it.
LUMMIS: So the concept of mining bitcoin and its great store of value was something that resonated with me, coming from a mining state.
Why is crypto down today? Cryptocurrency market crash, China ban - prices of Bitcoin, Shiba Inu and Ethereum
Coinbase falls 11% after the crypto exchange misses Wall Street's 3rd-quarter earnings expectations
DAVIDSON: Maybe the best answer is slowly at first and then all of a sudden, which is the same way people go bankrupt, by the way.
“The exchange business is currently profitable, but not necessarily innovation,” Brooks said, adding that Bitfury’s position as the only mining chip producer outside of China has taken the lead. ..
“Regulation is probably one of the biggest overhangs in the crypto industry globally,” says Jeffrey Wang, head of the Americas at Amber Group, a Canada-based crypto finance firm. “We would very much welcome clear regulation.”
But whether that growth is sustainable, and what it means long-term, is still in question. “This crypto, blockchain technology, the public interest in it right now is being driven by a kind of speculative fever,” says Dr. Richard Smith, executive director of the Foundation for the Study of Cycles, a nonprofit organization dedicated to studying recurring patterns throughout economies and cultures.
Musk’s influence cannot be underestimated as, even though the likes of PayPal, Mastercard and Facebook have backed cryptos, the Tesla announcement still rocked the market.
Regulatory announcements can also affect the price of cryptocurrency in already volatile markets. Market volatility is why investing experts recommend keeping any cryptocurrency investments to less than 5% of your total portfolio and never invest anything you’re not OK with losing.