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SafeMoon Made it to the ‘Top 100 Crypto List’ without Major Listings in Top Trading Platforms
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The global crypto market cap fell more than 2 per cent to $2.82 trillion mark compared to the last day. However, the total crypto market volume jumped over 31 per cent to $176.91 billion.
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But this time feels different. It feels like a bubble. The fever in the post-Thanksgiving moonshot ran hotter than we’d seen before. We also began to see a robust supply response.
Cryptocurrencies work using a technology called blockchain. They are tokens that can be used as a form of payment in exchange for online goods and services. They carry a pre-determined store value of their own, just like any other fiat currency like the US dollar or the Indian rupee. Cryptocurrencies are digitally mined, where very sophisticated computers solve extremely complex computational mathematics problems. Their mining is painstaking, costly and only sporadically rewarding.
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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.
Its Facebook page states: "Remember, getting to the moon takes time and the longer you hold the more tokens you pick up."
SafeMoon is a newly added cryptocurrency that has seen a rise in its rates since its launch in March 2021.
As far as payment for assets goes, platforms offer crypto purchases via bank transfers, crypto transfers, or credit cards, depending on the platform. Buying crypto with cash in a person-to-person fashion is also possible. Availability for buying and selling crypto on any given platform, however, can vary from region to region.
Makarov, I. and A. Schoar (2018), “Trading and arbitrage in cryptocurrency markets”, Journal of Financial Economics, forthcoming .
Note that backing up a wallet doesn’t duplicate the actual cryptocurrency units, merely the record of their existence and current ownership.
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.
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