Cryptocurrency is an asset that can be exchange for goods and services, much like normal money.
It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
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This lack of regulation means its transaction costs are less - making it an attractive tool or investment for people to move digital money around the world.
Take Bitcoin for example, if you want to get Bitcoin on Binance.US, here’s how you would do it to make sure you only pay that 0.1% fee, and not the 0.5% fee:
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Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
The first cryptocurrency was bitcoin. The bitcoin domain was registered in 2008, but the first transaction took place in 2009. It was developed by someone called ‘Satoshi Nakamoto’. However, there is speculation that Nakamoto is a pseudonym as the bitcoin creator is notoriously secretive, and no one knows whether ‘he’ is a person or a group.
All the products have been listed on the roadmap, and the team is following it strictly. The first product upon the launch and listing of the token on the CoinMarketCap was the Bitrise Audits and Techrate Audit, and the team delivered as promised. The programs were released, and august has been a game-changer in audits. They offer free audits to blockading and smart contracts, and hundreds have used them so far.
As with most cryptocurrencies, there have been mixed reviews so far with one reddit user saying: “I completely agree that once they get listed on an exchange this could easily blow up.”
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ST. MARTIN, Miss. (AP) — A south Mississippi church is allowing parishioners to give offering or pay tithes using cryptocurrency.
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Even if this were the case, and Safemoon coin was to increase in price dramatically before an instant fall, it would still represent a good investment for purely speculative investors. For example, if Safemoon were to simply return to the all-time high experienced on April 20th, then that would represent an incredible 921% return from today’s price!
Support for users of both platforms definitely needs some improvement. Currently, the support provided by Binance beats that of Binance.US. With the restriction limiting U.S. users to this platform, many choose to shift their accounts to other crypto exchanges completely.
— Jordan Barth is joining the Pew Charitable Trusts as a government relations associate. He was most recently the DNC’s voter protection hotline & research coordinator during the 2020 election.
However, while there are some organisations that accept it as currency, others shy away due to Bitcoin’s dramatic price swings. Driven largely by speculation, the price per Bitcoin rose sharply from $1,151 in January 2017, to an all-time high of $19,783 in December the same year.* It then dropped to below $7,000 by February 2018 and rallied again to around $11,000 over a matter of days, before plunging once more to trade below $4,000. Subsequently, one of the key characteristics of Bitcoin that traders should understand is its potential for extreme volatility.
In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.