Cryptocurrencies’ finite supply makes them inherently deflationary, more akin to gold and other precious metals — of which there are finite supplies — than fiat currencies that central banks can, in theory, produce unlimited supplies of.
Because most cryptocurrencies aren’t regulated by national governments, they’re considered alternative currencies — mediums of financial exchange that exist outside the bounds of state monetary policy.
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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.”
For those who invest in crypto for the long-term using a buy-and-hold strategy, swings like this are to be expected. The recent dips are nothing to be overly worried about, according to Humphrey Yang, the personal finance expert behind Humphrey Talks, who says he avoids checking his own investments during volatile market dips.
Bitcoin (BTC)Bitcoin Cash (BCH)Binance Coin (BNB)Ethereum (ETH)Litecoin (LTC)Tether (USDT)Ripple (XRP)
The surge in Bitcoin’s value in recent weeks follows the much anticipated first Bitcoin ETF debuting on the New York Stock Exchange, and a record-breaking October for the stock market in general.
It is the latest cryptocurrency to have seen a spike in interest since the turn of the year, following on from the success of Dogecoin, Bitcoin and Ripple XRP in recent weeks.
Having a capped currency means Bitcoin can be used as a store-of-value investment tool. Investing in a store of value currency can be compared to investing in gold. Although there is some transactional value in gold, it is mostly used as a store of value.
Also, several businesses now receive bitcoin as payment for goods and services – another reason why it is a wise investment. For instance, Visa transacts with BTC, and in February, Tesla announced that the company has invested $1.5 billion in BTC and will also be accepting it as means of payment for its cars. Additionally, the large banks are already incorporating BTC transactions in their offers too.
Bitcoin and some other cryptocurrencies’ values have skyrocketed in recent years. Bitcoin’s price has more than doubled in 2021, and Ethereum has more than quadrupled in value this year.
Once there are enough transactions in the block, more information is added such as the header data and hash from the previous block in the chain and a new hash for the current block.
At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2016, and Pro Bono Humanitarian Award by IA Bar Association in 2013.
Ariva, the next-generation tourism & travel blockchain hub, has made a huge splash with its token listing on Gate.io. In addition, the popular crypto exchange has announced that it will be listing ARV/USDT trading pairs on October 8th 2021. Read all about Ariva Receives a Significant Boost With the Listing of ARV on Gate.io
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