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It was a rough year for bitcoin–and cryptocurrencies in general. Here’s a look at how we got here.
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United States investors still cannot use the original Binance today, but Binance.US offers over 50 cryptocurrencies for investors to choose from. The biggest draw of Binance.US is its low fees compared to some other exchanges. It also has an easy-to-use buy/sell option for beginners, while more advanced traders can get the benefit of its in-depth “basic” and “advanced” trading platforms.
As its name suggests, you can use cryptocurrency to make purchases. But your purchasing power is limited; crypto isn’t yet widely accepted among retailers and other businesses.
What makes the fee structure so complicated is Binance’s focus on different fees for different levels of users. While, theoretically, this is similar in both the main platform and Binance.US, the American platform has fewer of these levels. For some, this may seem simple and clear; but it could also mean that using Binance.US is more costly than its main counterpart.
Corbet, S., B. Lucey, and L. Yarovaya (2018), “Datestamping the Bitcoin and Ethereum bubbles”, Finance Research Letters 26, 81–88.
Some experts have already expressed concern that the inclusion of the Binance Coin on the platform may prove controversial in the United States. While Binance.US is described as a subsidiary, its business model might draw attention from the U.S. Securities and Exchange Commission based on the fact that BNB token acts as both a security and a utility token. As such, it could pass the so-called Howey test for being security, thus potentially becoming a snag on the Binance’s path to establishing itself in the US.
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Born in Latvia, Vavilov founded Bitfury in 2011 as a Bitcoin mining operation, but has expanded its business to include infrastructure projects such as data center operations, computer chips and software development for the crypto industry.
Regarding regulatory attention, in late June, the UK’s regulator, the FCA, issued a statement that “Binance Markets Limited is not permitted to undertake any regulated activity in the UK.”
Mr Musk has served as a key for driving up the prices for other major meme coins this year, including Dogecoin and Shiba Inu.
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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.
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This is mainly because of the extreme volatility that takes place in the industry. If you’re not careful – you could lose a lot of money quickly.
Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.