Category Archives: Cryptocurrency

Areije Al Shakar is the senior vice president at Bahrain Development Bank & director at Al Waha Venture Capital Fund of Funds

Banks and financial regulators in the Middle East have been slower to embrace cryptocurrency than Europe and the US. Before the pandemic, the Middle Easts crypto market was still in its infancy. But following two years of rapid developments, 2022 will be the year that the building excitement around the potential for cryptocurrency translates into industry leadership.

Over the past 12 months, we have seen increasing signs that cryptocurrencies in the Middle East are evolving from a fledgling concept to an everyday part of life.

Several cryptocurrency exchanges have emerged and raised funding, including BitOasis, CoinMENA and Yoshi Markets. One of the clearest indications that crypto is about to take flight is the news that came out of Bahrain recently regarding Rain, the regions first Sharia-compliant cryptocurrency platform.

The exchange, which is backed by Al Waha partner funds VentureSouq and Middle East Venture Partners and 500 Startups, raised $110 million in a Series B round co-led by Kleiner Perkins and Paradigm, the largest crypto fund in the world. The round is one of the largest investment deals for any startup in the Middle East and North Africa and sets the tone for what is to come in the regional crypto market.

The GCC region, and Bahrain in particular, is already a leader in fintech. In fact, the sector is expanding at a compounded annual growth rate of 30 per cent. Flexible regulatory frameworks and rapid digital transformation combined with a strong appetite for innovation in the financial sector are among the factors contributing to the regions emerging position as a fintech hub, where technologies such as open banking and cryptocurrency can thrive.

Cryptocurrency is receiving more investment and support from traditional entities in the Middle East financial market as countries accept and begin to promote the shift towards digital transactions. The regulations being implemented are conducive to the rise of crypto clusters, which could have a snowball effect on the uptake of digital currencies.

In the UAE, the government has established a special crypto zone at the Dubai World Trade Centre (DWTC), where cryptocurrencies and other virtual assets are regulated. FTX Exchange, one of the worlds largest exchanges was recently granted a licence to operate in the UAE while Binance also signed a deal to develop a new industry hub dedicated to digital innovation and cryptocurrency in the UAE. Bahrains central bank also approved the exchange, marking the first regulatory approval for a Binance entity within the Middle East.

Saudi Arabia is also positioning itself as a future hub for up-and-coming cryptocurrencies amid a strategy to embrace digital transactions as part of its efforts to diversify the economy. The Saudi Central Bank (SAMA) announced last year that it will implement an open banking policy, spurring a wave of competition and increased transparency towards financial transactions data.

As a leader in financial services, Bahrain is at the forefront of the regions impending crypto boom. The kingdom has secured access to European markets via CoinMENA, an onshore exchange granted a licence by the European Union. The licence paves the way for expansion to new jurisdictions and increases the number of crypto assets on the platform. CoinMENA has been the fastest growing cryptocurrency exchange in Mena, growing at an average rate of 140 per cent month-on-month.

The Central Bank of Bahrain also launched FinHub 973, a first of its kind virtual fintech platform to allow companies to test their solutions through the Regulatory Sandbox and connect with the hubs global network for funding and business opportunities. FinHub 973 is all about supporting innovation in the sector and is a good example of the driving forces behind the regions shifting fintech landscape.

The evolving landscape of the Middle Easts fintech ecosystem signifies the willingness of governments, regulators and the private and public sectors to embrace and empower digital innovation. It is clear that countries are now recognising the value of cryptocurrency and how digital transactions will shape the way we exchange money and goods.

The increasing adoption of cryptocurrencies in the GCC is perhaps unsurprising given the various national visions and strategies that are designed to attract new business and support economic diversification amid increasing competition.

But it is clear from last year that the pace of change is accelerating. As the Middle Easts economic powerhouses increasingly adopt and nurture cryptocurrency over the next 12 months, we can expect to see the market coming of age and contributing significantly to the regions overall growth and development.

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This is the year cryptocurrency will come of age in the Middle East - Wamda

The U.S. Federal Reserve is getting ready to start raising interest rates, sucking the bullish air right out of the market as investors reassess the valuations of risky assets like stocks. Cryptocurrencies have been hit hard too -- a reminder that while blockchain-based technology is exciting and has lots of potential in the coming decades, this is a very new and very volatile space to invest in. The top two cryptos by market capitalization, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), are each down over 40% from all-time highs as of this writing.

But given the potential for blockchain, I'm still dabbling (for me, that means less than 1% of my total investable net worth). This month, I'm adding to a very tiny existing position in Solana ( SOL 0.16% ). Here's why.

Image source: Getty Images.

Like Ethereum, Solana's blockchain network was designed to support decentralized applications (or dApps, meaning peer-to-peer interaction with no centralized control). Ethereum has thousands of dApps based on its network, while Solana only has a couple hundred, although there are dozens more in development.

Created a couple years after Ethereum and launched in 2020, Solana is getting lots of attention. Its network is one of the quickest out there, boasting the current ability to process up to 65,000 transactions per second (which is similar to Visa's (NYSE: V) implied network speed). That compares to Ethereum's current limit of about 15 to 30 transactions per second.

Solana uses a concept known as proof-of-stake (PoS) to verify transactions on the network. PoS allows owners of a crypto to participate in the validation process. Along with PoS, Solana also devised a concept called Proof of History, which embeds a time stamp into transactions so the network doesn't need to reach a consensus on which ones to validate first. As a result, fees for utilizing Solana (known as gas fees) can be as low as a fraction of a penny, which compares to as much as a couple hundred dollars on Ethereum.

The way I see it, the problem with investing in cryptocurrencies is there's no real way to value them. They aren't businesses. Rather, they're an asset that a business develops or utilizes (Solana Labs, the private company headed by CEO and Solana co-founder Anatoly Yakovenko, develops the Solana blockchain network). Like Bitcoin and Ethereum, Solana has thus taken a big hit as investors have fled risky investments (that is to say, those with more uncertain future values) in recent months. Its tokens are down nearly 70% in value from their all-time peak reached late in 2021. That gives Solana a "market cap" of nearly $26 billion as of this writing.

Cryptocurrency

Market Cap

Rank In Top 10 Most Valuable Cryptos

Bitcoin (CRYPTO: BTC)

$736 million

#1

Ethereum (CRYPTO: ETH)

$305 million

#2

Solana (CRYPTO:SOL

$25.8 billion

#9

Data source: as of March 14, 2022.

A cryptocurrency's price performance is indicative of its growing popularity among developers, as well as uptake among investors buying the tokens. Even after the recent downturn, Solana is up big since its launch, indicating the excitement surrounding the blockchain project.

Data by YCharts.

Another way to "value" a crypto could also be the rewards gained from staking, when a participant in a PoS blockchain network uses their tokens to help validate transactions and get rewards. Currently, Solana pays a 5.8% reward as of this writing(paid in more Solana tokens), less an average 9.8% fee taken from the reward. This compares to a 4.8% reward from staking Ethereum, minus an average 10.9% fee. However, the "adjusted reward," which takes into account growth of supply in overall tokens on the blockchain, is only 0.94%. Ethereum's adjusted reward is currently 4.36%.

For Solana in particular, a fast-growing increase in tokens will dilute an owner's stake in the crypto over time, unless they "stake" their position (which Solana explains how to do here). The short story: There's no way to put a concrete valuation on Solana like we can with a business. This is a highly speculative asset that will begin rising once again or continue falling in value based solely on demand.

But there are some exciting projects being built on Solana, like the recently announced Solana Pay that directly connects merchants and shoppers in a first-of-its-kind peer-to-peer blockchain payments solution. What that dApp could mean for merchants is near-instantaneous settlement of funds into their merchant accounts with close to zero fees (compared to a 3% fee of total transaction value utilizing Visa), and the ability to reward customers directly using other digital assets built on Solana.

As exciting as applications like Solana Pay sound, buying Solana tokens isn't a direct investment into it or any other business. It's a speculative bet. For a more low-risk, potentially high-reward play on blockchain technology, I prefer keeping most of my investment assets in businesses like Alphabet's (NASDAQ: GOOGL)(NASDAQ: GOOG) Google Cloud, Shopify (NYSE: SHOP), and even Coinbase Global (NASDAQ: COIN) -- companies that are using crypto and blockchain to generate revenue and profitability.

That's why I'm keeping Solana and other cryptos as a fraction of a percent of my investment value at this point. Solana is still small and its value could continue deteriorating. But if developers and other speculative investors continue to flock to it, this newer blockchain network could soar one day.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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The 1 Cryptocurrency I'm Buying in March - The Motley Fool

A sudden spike in Bitcoin price today brought the largest cryptocurrency out of the narrow range where its spent most of the past week.

A sudden spike in cryptocurrency Bitcoin price today brought the largest cryptocurrency out of the narrow range where its spent most of the past week. The largest digital asset by market value jumped as much as 5.7% to $41,691 before paring its gains in early New York trading. It is down about 12% this year. Other tokens such as Ether and Solana also got a lift. Stocks rose, with Chinese equities rallying on a pledge by Beijing for policies to boost financial markets.

Whenever we see stock market relief, crypto tends to do well, especially lately, said Marcus Sotiriou, an analyst at London-based digital asset broker GlobalBlock. At the end of the day, the key driving force behind prices is macro, so I expect a struggle for a sustainable uptick.

A sustained rally is unlikely while the Federal Reserve tightens through the year, billionaire cryptocurrency investor Michael Novogratz who heads Galaxy Digital Holdings Ltd. said Tuesday during a TV interview on Bloomberg Crypto. Bitcoin is likely to stay in a range of $30,000 to $50,000 in an environment of rising interest rates, he said.

Bitcoin had spent the past few days mired in the tightest trading range since October 2020, a phenomenon some market watchers ascribed to long-term holders stepping in to buy whenever the token dips. Meanwhile, selling by short-term investors has kept Bitcoin and other digital assets from mounting sustainable gains.

The Fed is poised to raise interest rates Wednesday for the first time since 2018, with investors focused on how aggressive central bankers plan to be in tackling the hottest inflation in four decades. The Federal Open Market Committee is all but certain to raise rates by a quarter percentage point at the conclusion of its two-day policy meeting. The FOMCs fresh forecasts are likely to project four interest-rate hikes in 2022 and three in 2023, according to economists surveyed by Bloomberg.

(Bloomberg) Crypto miners are hunkering down for a possible squeeze as rising costs, swinging Bitcoin prices, and now a war in Ukraine threaten to erode the industrys substantial profit margins.

Companies are tapping debt markets, shoring up balance sheets and credit lines, and even filing to sell shares in order to raise more cash. Marathon Digital Holdings Inc. and Hut 8 Mining Corp. are among the most recent companies to reach for planned stock sales, and a just-in-case move could prove prescient with the price of Bitcoin hovering around $41,000.

Its a tough atmosphere that could see an industry shakeout, reminiscent of the 2018 bear market that saw the price of the worlds largest digital asset collapse to nearly $3,000. With Bitcoin prices now moving in the opposite direction of global processing power, the pressure is on. And while profit margins are still over 70% for the bigger players -- making Bitcoin mining one of the most profitable industries, comparable to luxury goods and pharmaceuticals -- leaders of some of the largest companies say theyre arming themselves against what-if scenarios.

Since I took the helm 16 months ago, weve taken a balance-sheet first approach, Hut 8 Chief Executive Officer Jaime Leverton said. I started focusing on diversification knowing this business is cyclical and because we wanted to be sure we were better prepared for future compression.

The price of Bitcoin would still need to fall substantially for miners like Hut 8 to even consider significant operational changes or selling their coin stockpiles. But the magic number, known as a breakeven rate, varies by company. Huts breakeven rate stands just under $18,000 as of their most recent quarter, while Riot Blockchain Inc. has a rate of $10,000 and Marathons is as low as $5,000. Profit margins exceeded 90% at some companies when Bitcoin was at a record high, according to analysts.

Russian President Vladimir Putins invasion of Ukraine has cast a pall over global markets, already reeling from tightening monetary policy in the face of accelerating inflation. But its also thrown a curve ball to cryptocurrencies as the war has prompted speculation that digital assets could gain favor amid the uncertainty. Moving in lockstep with Bitcoin, shares of Marathon, Riot and Hut 8 have all stabilized this month after each had plunged more than 60% from highs in November.

Surging energy costs stemming from the war add to the pressure on breakeven rates, with electricity often accounting for roughly half of overhead expenses. At the same time, a potential drop in mining activity in Russia -- similar to when Beijing banned crypto mining and trading -- could allow the biggest mining companies to go on the offensive. In fact, Marathon CEO Fred Thiel said he is looking for signs of rigs going offline that could potentially lower the global network hash rate, a measure of all miners processing power.

In this crisis, we will likely see a slight dip in global hash rate. If you go back to last year, when the change in China happened, there was an almost 50% dip over a couple months before climbing again, he said.

Global hash rates have been especially volatile since Russias invasion of Ukraine, according to BTIG analyst Greg Lewis, who observed a drop over the first weekend before rebounding again. He notes that Russia has a 15% share of global hash.

Miners that keep working regardless of whether they are big or small do better when global hash rates decline, Lewis said. For example, if global hash rates dropped by 50%, regardless of whether a miner owns 1% of global hash or a fraction of that, they would each see their share of hash, double.

When asked whether Bitcoin trading sub-$20,000 would force companies to chart a different course, away from their massive expansion plans this year or toward selling their Bitcoin stockpiles, Riot Blockchain chief Jason Les pointed to new tools made available over the recent crypto boom in addition the companys well-capitalized balance sheet and relatively lower-cost operations.

We plan to continue on our existing expansion plans no matter what the market conditions are, Les said. As the industry matures, there are more and more tools at a miners disposal for financing.

Thats the difference between past nuclear winters, when the price of Bitcoin has dropped sharply, and the next one, whenever that might be: new tools. Miners can secure credit lines purely backed by their digital assets. They can lend, stake and hedge to generate rewards from their coins, or protect them. Plus, a more mature and mainstream industry also allows miners to partner with companies in other industries, like gaming or energy. And they can explore new projects that allow them to mine Ethereum blockchain while getting rewarded in Bitcoin.

Our Bitcoin holdings have become increasingly valuable as the market matured. A portion of our Bitcoin earns yield, which is pure Ebitda. We can use it as collateral to access debt markets if the need arises, Hut 8s Leverton said. I know Michael Saylor made it famous, but were the OGs of hodling.

That means the biggest, diversified miners are hanging onto their coins, even as prices fall, and continuing to plug in new equipment, or lighting up rigs as they say, so they can mine more, at a faster clip.

For us, its pedal to the floor and growing, Marathons Thiel said. Indeed, an early earnings report showed lower than anticipated Bitcoin production in November as a result of maintenance issues, but fourth-quarter cost to mine was better than expected.

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Cryptocurrency Bitcoin price today jumps above $41,000 - HT Tech

The rise and positioning of cryptocurrencies in the global economy is a reality, despite the constant criticism and skepticism about it, so it is increasingly common to see different companies accepting Bitcoin or Ethereum as a form of payment, but Dogecoin is also gaining ground.

Like other meme coins such as Shinu Iba, Dogecoin is attracting the attention of several companies placed among the most profitable sectors in the world, which are interested in this emerging trend.

However, there are still many doubts and ignorance about cryptocurrencies like this, such as what you can buy with Dogecoin or which companies accept it as a form of payment.

Well, the list of companies that already accept payments via Dogecoin is growing and here we tell you which are some of these companies.

Tesla, the electric car manufacturer, has begun to accept this cryptocurrency for certain goods on its website, an announcement made by the company's CEO, Elon Musk.

Newegg Commerce became in 2014 the first retailer to accept Bitcoin as a form of payment, but it now also accepts Dogecoin, Ethereum and Litecoin.

GameStop Corp, a video game retailer, also accepts Dogecoin and Shiba Inu as a form of payment for its products, as does Nordstrom, the luxury department store chain, and Barnes and Noble Education.

There are also other companies that have understood the importance of linking up with cryptocurrencies like Dogecoin, such as Petco, which will accept Dogecoin and Shiba Inu as forms of payment as it looks to benefit from the connection between these dog-themed currencies.

In addition, home goods retailer Bed Bath & Beyond and Lowe's, a home improvement retailer, have also decided to accept Dogecoin.

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Dogecoin: What can you actually buy with this cryptocurrency? - Marca English

Europe's lawmakers this week moved ahead with their proposed cryptocurrency regulations, having ditched a rule that might have banned financial services from dealing in Bitcoin and Ethereum.

The European Union is considering ways to regulate digital coins, particularly to stamp out money laundering, and as such in 2020 drew up a draft framework dubbed the Markets in Crypto Assets (MiCA) to achieve this. During the development of this red tape, an amendment was proposed that, depending on its interpretation, could have made it illegal for app and web services to handle transactions involving proof-of-work coins, such as Bitcoin and Ethereum.

Proof-of-work algorithms underpin these cryptocurrencies, how they are mined, and how transactions are confirmed by the network. These algorithms have been criticized for being computationally intensive and consuming large amounts of energy, prompting some lawmakers to propose restrictions. Under the European Green Deal, member states are trying to slash greenhouse gas emissions, and are heavily scrutinizing activities like running proof-of-work algorithms.

Specifically, the amendment would have outlawed, by 2025, the crafting and trading of cryptocurrencies within the European Union if they used "environmentally unsustainable consensus mechanisms." The coins could be exchanged as normal if they met some "minimum environmental sustainability standards," which crypto-fans took to mean: proof-of-work mining is out.

The consequences would have touched every corner of the crypto ecosystem from miners to exchanges, and custodians to traders

Restricting use of this code would have been disastrous for the likes of Bitcoin and Ethereum, all but preventing cryptocurrency businesses and netizens from mining and exchanging the digital assets. Newer cryptocurrencies use proof-of-stake algorithms that are less computationally demanding. Bitcoin and Ethereum, however, still run on proof-of-work.

At the start of March, MEP Stefan Berger, a member of the center-right European People's Party Group, confirmed the rule restricting the use of proof-of-work algorithms had been deleted from a revision of the proposed MiCA. Days earlier he said he didn't want people to misinterpret the amendment as a ban on proof-of-work, and a vote on the framework due to be held late February was postponed to straighten out the issue.

On Monday this week, the European Parliament's Economic and Monetary Affairs Committee voted 31 to four, with 23 abstentions, to adopt the MiCA text without the controversial amendment as its position, and voted 33 to 25 to move the framework into negotiations with member state governments to form the final version of the law bill.

Ian Taylor, executive director at CryptoUK, an independent cryptocurrency trade association, told The Register the proposed rule "would have meant a de facto EU ban on Bitcoin and Ethereum."

"If the amendment to MiCA, which proposes an overarching view on crypto regulation across 27 member states, had been voted through, the consequences would have touched every corner of the crypto ecosystem from miners to exchanges, and custodians to traders," he said. "It is like trying to ban the internet because it takes up 70 percent of phone line bandwidth."

Berger, who is championing the MiCA, said the draft framework will pave the way for an "innovation-friendly" set of crypto-coin standards worldwide.

"The regulation being created is pioneering in terms of innovation, consumer protection, legal certainty and the establishment of reliable supervisory structures in the field of crypto-assets. Many countries around the world will now take a close look at MiCA," he said in a statement.

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Europe advances crypto-coin regulation without potential ban on Bitcoin - The Register

Charlie Munger, Warren Buffett's longtime right-hand man, recently predicted that over the next 100 years, inflation will cause fiat currency (that is, government-issued currency) to plummet to zero. Munger's track record speaks for itself, so people tend to listen whenever he has something to say about markets or the economy.

These comments are noteworthy given the current economic environment, with soaring inflation grabbing headlines and hurting consumers' pockets. But from an investment perspective, people have a worthwhile option in front of them to place a bet with Munger's comments in mind.

It's the world's top cryptocurrency, an asset that he has publicly eschewed. But I think that if you're looking for the opportunity to build life-changing wealth, then you should seriously consider Bitcoin ( BTC -0.02% ).

Cryptocurrencies can no longer be ignored by investors. And Bitcoin in particular, with its decade-plus history, is cementing itself as a smart place to park your money.

Institutional investors, such as ARK Invest, are extremely bullish on Bitcoin. And corporations like Block, MicroStrategy, and Tesla have even converted some cash on their balance sheets to the cryptocurrency. With the introduction of secure and seamless connections between the traditional financial system and the crypto economy, like Coinbase Global'sPrime offering, it is easy for entities to gain exposure to the burgeoning asset class.

Then there is the potential for real utility. Other nations could follow El Salvador in making Bitcoin legal tender within their borders. And the massive global remittance market, at approximately $500 billion, is ripe for disruption due to slow processing times and high fees. Again, bitcoin could be the solution.

Although future returns might not resemble the past, I believe there is a material chance that Bitcoin continues beating the market in the years ahead.

Inflation, spurred by the ultra-loose monetary policy since the Great Recession, is a key component of modern capitalism, as it encourages consumers to spend. And this is what Charlie Munger was alluding to.

Bitcoin, on the contrary, is characterized by absolute finiteness. There will only ever be 21 million coins in circulation, and this is based on computer code that can't be tampered with. A situation like this is in stark contrast to fiat currency.

Image source: Getty Images.

With inflation reaching record levels in recent months, the concept of Bitcoin as a hedge against rising prices is coming under intense scrutiny. Add in heightened geopolitical risk, and investors would expect safe-haven assets, like gold, to receive a boost. This situation has played out, as the precious metal is up about 8% this year. Bitcoin, on the other hand, is down 19% in 2022 as of March 8. But it's worthwhile to zoom out and gain a better understanding of the true goal of investing.

It is not a smart idea to jump in and out of asset classes on a short-term basis simply because of certain macroeconomic events. The goal of investing, which is a long-term game (at least five years in the future), is essentially to increase your purchasing power over time. This simple fact is why holding cash is such a poor financial decision over a longer time frame. Inflation eats away at its purchasing value.

With this framework in mind, it's strikingly clear that Bitcoin crushes gold in terms of real wealth creation.Over the past five years, the price of an ounce of gold has risen just 60% (as of March 8), while Bitcoin has skyrocketed more than 3,200% during the same time. Undoubtedly, anything can happen in a given month, quarter, or even year. But over a longer period, Bitcoin is the clear winner.

Even with the extreme volatility that investors would need to endure, Bitcoin makes for a solid addition to a well-diversified portfolio. And although Charlie Munger has publicly condemned digital assets, his comments about inflation and the diminishing value of traditional currencies should lead investors right to Bitcoin.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Want to Get Richer? 1 Top Cryptocurrency to Buy Right Now Without Hesitation - The Motley Fool

Bitcoin vs. EthereumAlain Pitton/NurPhoto via Getty Images and Dado Ruvic/Reuters

Travel companies, fast-food chains and dating sites are leading the adoption of crypto payments, said Traders of Crypto.

Expedia, McDonald's and OkCupid are among large companies showing themselves open to crypto, according to a study.

But crypto adoption is still in its infancy with payments usually limited to bitcoin and ethereum.

The travel services industry and fast-food chains are among those leading the widening acceptance of cryptocurrencies as payment for goods and services, research released Tuesday showed.

Of the top 10 crypto-friendly industries, travel is number one, with 11.5% of the companies in that sector accepting the digital assets, according to a study conducted by Traders of Crypto. E-Commerce is second at 11.06%, while non-profits and charities are third at 9.13%.

Meanwhile, fast-food chains including Burger King, institutions of higher education, and sports teams are among other large companies and entities acting as early adopters of cryptocurrencies.

The broadening acceptance "reflects a huge shift in public perception of crypto, with its value finally being realized by consumers and businesses alike," Traders of Crypto said in a note.

The cryptocurrency research website jumpstarted its study by combing through a variety of general and specialty news sites to create a list of companies that accept cryptocurrency.

"However, the adoption of crypto is still in its infancy, and the majority of digital tokens accepted by businesses tends to be limited to Bitcoin and one or two other leading cryptocurrencies such as Ethereum," it said.

The travel sector has been "quick to recognize" the growing demand for crypto-payment availability, with Expedia leading the way in allowing customers to pay for hotel bookings using bitcoin. Airlines including AirBaltic, Norwegian Air, and LOT Polish Airlines also moved to take crypto as payment.

Burger King and McDonald's are among several of the world's biggest fast-food companies that have started experimenting with payments in crypto, the study showed. Burger King has run trials in Germany, the Netherlands, and Venezuela. McDonald's is working on it in El Salvador the first country to adopt bitcoin as legal tender and chicken chain KFC has been experimenting in Canada.

Story continues

Portuguese soccer club Benfica's acceptance of bitcoin and ethereum for fan merchandise made it an early adopter in the sports world. In US professional sports, the Dallas Mavericks, Miami Dolphins, San Jose Earthquakes in soccer, and San Jose Sharks in hockey include crypto as payment options.

"[Even] our love lives have been penetrated by the unstoppable tide of progress," with dating site OkCupid accepting bitcoin payments as early as 2013, Traders of Crypto said. OkCupid is run by Match Group. Badoo and Luxy are other dating sites that accept crypto payments, it said.

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Cryptocurrency payments are accepted the most by the travel industry, adoption study shows - Yahoo News

Since people are unsuccessful in identifying hackers locations, it is imperative to know about the procedures to solve the puzzle of criminal activities in your account. The most famous incident took place two years back when an individual from the United States started using cryptocurrency for every investment. He effectively takes the benefits of the accounted value in his digital wallet. He had a total of Bitcoin of 15.5 million USD dollars, which he paid by earning from his hard work job. According to him, his partial investment in cryptocurrency and half in retirement was a successful plan. However, one day before his most significant investment in physical property in the real estate business, he received an email with detailed information about his transactions asking him to submit his private key for security purposes.

The man did not pay much attention to the email and reverted it by mentioning his necessary code. After 10 minutes, he realized that ended his endless efforts in making 15.5 million dollars. For the next few seconds, he did not realize what happened in 10 minutes that his digital wallet account was Nil. After Consulting with the Crypto exchange https://bitcoinmillionairepro.org/, he understood that the email was never sent by the exchange platform but by a professional hacker. Crypto exchange platform made him understand the illegal staff people do to have the account. During the conversation with the Crypto exchange, he understood the importance of keeping private information safe. The Crypto exchange also advises them about its further engagement with emails.

Cryptocurrencies have high-tech support, but it does not apply when professional hackers with sound Technology try to fool innocent people. Cryptocurrency from their side keeps the security enclosure, but if the individual does something out of the blue, it is not on the head of the Crypto platform for Coins. Cryptocurrency farming was a common point in the past; however, it is not so common because of the new technology that keeps the digital asset in the safest column.

If you feel that danger is crossing your digital wallet, it is essential to address the possibilities with the Crypto exchange. However, if you are a professional investor and know the tricks and tips about saving a digital account, you can do it yourself.

Usually, such common hacking problems are noticed in the latest developed cryptocurrencies, which are not reformed completely. However, digital money such as Bitcoin does not have common interference of hackers because Cryptography Technology precisely looks after the digital unit 24 x 7.

Meanwhile, the everyday hacking activity is coming forward towards your digital payment wallet that changes your secret key code or does not share your information with anyone.

Cryptocurrency danger comes with numerous ideas, such as a fake exchange. The first way of making the emergency of cryptocurrency hacking is by creating a fake exchange website. Usually, the newcomers do not know about the fake exchange site. For instance, the Crypto exchange in Korea with the most significant trading was found fake after one year. It resulted in the wastage of more than 10 million dollars of individuals.

Another way to identify your improved security is through connecting with the support team. But unfortunately, every Crypto exchange team provides you with unnecessary details of the Crypto wallet and tries to take your confidential information and verify it again. Usually, email messages are the best way to borrow the users information as it is the direct communication with the online investor.

These days fake application on the Google stores of Crypto wallet is widespread. The scammers have developed a new way of describing their unethical activity. First, they try to convince the individual to install the application on the phone and create the trust to share the confidential information. After the individual puts the information in the application will check the balance of the cryptocurrency wallet. And after 10 to 20 minutes of applying, they exchange that digital unit from the wallet.

These are a few ways through which the joint activity of cryptocurrency scamming occurs. Therefore, every educated individual shouldnt install any dangerous and fraudulent application.

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Cryptocurrency Scamming - How To Spot? Hometown Station - KHTS Radio

Decentralands (CRYPTO: MANA) price has increased 4.65% over the past 24 hours to $2.38, which is in the opposite direction of its trend over the past week, where it has experienced a 5.0% loss, moving from $2.49 to its current price. As it stands right now, the coins all-time high is $5.85.

The chart below compares the price movement and volatility for Decentraland over the past 24 hours (left) to its price movement over the past week (right). The gray bands are bollinger bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has climbed 36.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.53%. This brings the circulating supply to 1.51 billion, which makes up an estimated 68.88% of its max supply of 2.19 billion. According to our data, the current market cap ranking for MANA is #35 at $3.54 billion.

Powered by CoinGecko API

This post contains affiliate links from which Benzinga may earn a commission.

This article was generated by Benzingas automated content engine and reviewed by an editor.

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Cryptocurrency Decentraland's Price Increased More Than 4% Within 24 hours - Benzinga - Benzinga

The massive explosion and acceptance of digital currency is the main route of encountering popularity. Digital units are available for public transactions, and the history of exchange is not modified. Cryptocurrencies are familiar with the business, and the immense vogue of Bitcoin is many time subjects to myth and misconceptions. There are always rumors about popular NFT System and Creations. Of course, purchasing the coin and doubts about vulnerability is a concern of millions. But until and unless new things are not tried and read in detail, the person never reaches the platform they deserve.

Every successful man is achieving the dream today because of the risk taken in the past. Confirming a successful tag becomes major when the risky path is taken over with complete guidance and detailed knowledge. However, in the case of cryptocurrency, the risk is the rumors created in the market to deprive people of the digital unit. However, rumors are like a water vapor that evaporates or ends when touched. Typically people are dead deep inside the myth and widespread rumors of cryptocurrencies to find whether they are true or not.

Key Takeaways

Myth 1

Crowdfunding Is A Legal In Cryptocurrency Business.

Raising funds from outside the world and people is not legal by any currency. There are no subjective rights given to traditional money to raise funds and help people suffering from irregular funding. Bitcoin also has the same existence and policies of providing the people with web collection of electronic money. Digitalization has brought investors worldwide to perform the legal activities of helping others in requirement. The mainstream cryptocurrency satisfies peoples needs, and the elasticity of supply buy Bitcoin has tremendously built a legal system for everyone.

Moreover, digital coins serve as a financial element in the economic sector with minimum transaction charges and massive contributions to legal projects. Privacy during crowdfunding is double interested with secure privatized coin.

Myth 2

Bitcoin Does Not Have Exact Value

It is Math because Bitcoin has a value expected near 57000 Dollars, and shortly, it will go beyond 100000 dollars. Without significant value, market capitalization can never be formed in trillions. If the currency does not have value, it means the massive lifespan of the currency is shorter term. Precious metal such as gold also has value, and it is prominent due to their expensive nature and popularity among the people. Likewise, the digital unit has also acquired a marketplace and reliable value during the launch and popularity. Henceforth acquiring bitcoin or ethereum will facilitate the massive application of content and value.

Myth 3

Bitcoin Is Lagging In Security

Lacking security to buy Bitcoin blockchain does not exist in real-time. It is a rumor because the double signature security and the Bitcoin network have cryptographic technology, a pure digital security and insurance combination. Bitcoin has never experienced failure in the transaction, and the possibilities of hacking are lagging in the currency. Moreover, the simplest form of the store in currency is subscribing to a digital wallet provided by the Bitcoin system. The fun part about Bitcoins digital wallet is that it is connected with the internet and has multiple options of eliminating broadband.

Final Verdict

Rumors are given fuel, especially by the government, to decline the power of transactions. However, intelligent investors dont waste their energy on waste information. They are going strong with trading.

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3 Myths Of Bitcoin And Other Participating Cryptocurrency Hometown Station - KHTS Radio