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Disclosure: At the time of writing, the author of this feature owned BTC and ETH.

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The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
Wallets can be stored on the cloud, an internal hard drive, or an external storage device. Regardless of how a wallet is stored, at least one backup is strongly recommended. .

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In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
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Here are some cryptocurrencies that may be unworthy of a slot in your investment portfolio:

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The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.

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An obstacle to large-scale bitcoin mining is finding enough cheap energy to run the huge, power-gobbling computer arrays that create and transact cryptocurrency. One mining operation in central New York came up with a novel solution that has alarmed environmentalists.

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    “It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it -- they were excited to be so popular.”

    The giveaway, which runs through Nov. 21 at 11:59 p.m. ET or while supplies last, will give up to 220 participants a chance to win one coin from a pool of 20 Bitcoin, 200 Ethereum and 2 million Dogecoin. 'Squid Game' cryptocurrency developers steal millions in purported 'rug pull' scam
    We’ve talked to investing experts and financial advisors who advise against sinking much of your portfolio into the asset class for this very reason. They work with clients to make sure volatile crypto investments aren’t getting in the way of other financial priorities, like saving an emergency fund and paying off high-interest debt.

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    CFDs trading are derivatives, which enable you to speculate on cryptocurrency price movements without taking ownership of the underlying coins. You can go long (‘buy’) if you think a cryptocurrency will rise in value, or short (‘sell’) if you think it will fall.

    View: A digital rupee and cryptocurrencies can (and should) co-existAnirudh Rastogi & Amol Kulkarni
    The EverGrow Ecosystem is adding more ways for its users to utilize their EverGrow coin holdings. Users will be able to buy, sell, and loan NFTs using the NFT marketplace. This feature will further promote accessible liquidity in NFT and DeFi space. NFT owners will be able to utilize their NFTs as Collateral and borrow against their value.

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    One of the most appealing factors is that Safemoon rewards people who hold the token by distributing funds that the platform receives from the people who sell the token. In addition, Safemoon has recently released its own wallet on Google Play. Many investors believe this is a sign that the company are in the growth phase, with more announcements in due course.

    However, in the wake of the technical issues, the DeFi protocol has met its share of criticisms and FUD. Some Twitter users have even accused SafeMoon of scamming its users.
    Douglas Horn, the chief architect of Telos, told Business Insider that they kept away from marquee investors because they didn’t want to create any big whales that could influence the price of the TLOS token.

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    While no official announcement by either of the companies in question has been made in regards to a partnership, social media is full of users waiting for the statement.

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Of course, crypto is notoriously volatile. The last time Bitcoin reached these levels, it fell back several thousand dollars, and it’s undergone multiple corrections that take it down by half or more. Other coins are even more volatile – the memecoins bounce back and forth wildly at times – and scams and hacks occur with some frequency.

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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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As long as prices avoid closing below this barrier, odds favor a resumption of the uptrend toward a new all-time high at $4,574.

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It is a meme coin in the same sense as Shiba Inu, but has failed to live up to its promises. SafeMoon is the perfect example of why having a product first is what matters. Investors bought into the token thanks to its promises, and now the token is plummeting. It is a story warning investors of falling for grandiosity.

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