SHIBA Inu coin was down again on Wednesday as Bitcoin rose slightly, and GYEN launched on Coinbase Pro.
Coinbase has begun “accepting inbound transfers of GYEN” with trading to begin “on or after 9am Pacific Time (PT) Wednesday November 10, if liquidity conditions are met.”
Meanwhile, Bitcoin rose slightly, according to Coinbase, and Shiba Inu was down once more. Shiba Inu coin was listed as being down 24.84 percent over the last seven days on the crypto site.
Shibu Inu is a cryptocurrency token that allows users to hold trillions of them. Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.
Plus, at the New York Times DealBook conference, Apple CEO Tim Cook was asked if he owns Bitcoin or Ethereum and said, “I do. I think it’s reasonable to own it as part of a diversified portfolio,” according to CNBC.
“I’m not giving anyone investment advice by the way,” he added.
Read our cryptocurrency live blog for the latest news and updates…
-
LITECOIN, CONTINUED
Like most cryptocurrencies, Litecoin uses blockchain technology for processing and recording transactions.
While Litecoin is smaller, it is a quicker and cheaper alternative when compared to Bitcoin.
Currently, Bitcoin commands a market capitalization of more than $900 billion, while Litecoin’s sits under $12 billion.
-
WHAT IS LITECOIN?
As the name indicates, the cryptocurrency is small.
But Litecoin, which was established in 2011 by Google engineer Charlie Lee, operates similarly to Bitcoin.
Mr Lee on occasions refers to Litecoin as the “silver to Bitcoin’s gold.”
The two cryptocurrencies act similarly in how their global payment operations are set up. Both are not controlled by financial institutions.
-
HOT TIPS FROM ‘FRIENDS’
Multi-level marketing scammers will often use the language of cryptocurrencies to entice people to join as “members.”
Cryptocurrencies do not have members, they have investors.
Avoid taking investing tips from friends and family; instead turn to price-tracking websites like CoinMarketCap, CoinGecko, or CoinPaprika, and always do your research before investing.
-
STEVEN SEAGAL’S BITCOIN SCANDAL
Under Siege and Half Past Dead hardman Seagal was paid to promote “Bitcoiin2Gen” (B2G) which saw 500 investors left out of pocket in cash and other cryptocurrencies as he unwittingly ended up backing the scam.
Seagal reportedly had been offered $250,000 along with £750,000 worth of B2G for appearing in promotional materials for the con artists.
He appeared in a press release for them and “wholeheartedly” endorsed the scheme in a post to his 7million followers on Facebook.
-
CRYPTOCURRENCY GIVEAWAY SCAMS
In giveaway scams, scammers often pose as celebrities or well-known figures and ask victims to send Bitcoin, promising to send back a much larger amount.
Many giveaway scams are marketed over social media, attempting to connect through Facebook, Twitter, or Instagram.
For instance, victims reported sending more than $2million to scammers impersonating Elon Musk.
-
POSING AS AN AGENCY OR BUSINESS
As noted by Inverse, many phishing scams will attempt to impersonate a government agency or business to get your attention.
Some reports to the FTC said victims were contacted by scammers pretending to be the Social Security Administration and asked to deposit money into Bitcoin ATMs.
Other victims lost money to scammers posing as the cryptocurrency company Coinbase.
-
SCAM WARNING
While the growth of Bitcoin has skyrocketed in some bank accounts, it’s also fueled the growth of crypto-related fraud operations.
The FTC reported that since October of 2020, nearly 7,000 people have reported losses of more than $80million in the US due to cryptocurrency scams.
That number is around 12 times, or 1,000 percent more than reported losses from the period a year earlier.
-
MUSK TWEETS ABOUT UNIVERSITY WITH ‘TUITION’ IN ‘DOGECOIN’
On October 29, Elon Musk tweeted, “Am thinking of starting new university: Texas Institute of Technology & Science.”
He later added below that tweet on Halloween, “Tuition is in Dogecoin & u get a discount if u have a dog.”
-
FAKE WEBSITES
Another widespread crypto scam technique is websites that appear to be a new cryptocurrency mining operation or investment opportunity.
These sites encourage investors to wire in money, sometimes offering investment “tiers” and promising greater returns.
But when users attempt to withdraw their cash, they are unable to and told to input even more cryptocurrency.
-
RISKS OF INVESTING IN CRYPTOS, PART FIVE
Finally, the truth in marketing materials is a risk in investing in cryptos.
Firms may overstate the returns of products or understate the risks involved.
-
RISKS OF INVESTING IN CRYPTOS, PART FOUR
Another risk of investing are the charges and fees.
Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
-
RISKS OF INVESTING IN CRYPTOS, PART THREE
A third risk of investing in cryptocurrencies is product complexity.
The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.
There is no guarantee that cryptoassets can be converted back into cash.
Converting a cryptoasset back to cash depends on demand and supply existing in the market.
-
RISKS OF INVESTING IN CRYPTOS, PART TWO
Another risk of investing is price volatility.
Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
-
RISKS OF INVESTING IN CRYPTOS
We rounded up five risks of investing in cryptocurrencies.
The first is Consumer protection.
Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
-
HELIUM ON THE RISE
Helium crypto price predictions have soared and may be the next cryptocurrency to explode in 2022.
Experts have predicted it will be a lucrative investment in the crypto space. as price predictions heated up before the big launch this week because the network connects people through shared hot spots.
-
WHAT CRYPTO IS BURGER KING GIVING AWAY?
Burger King announced it is partnering with RobinHood to give away cryptocurrency in a promotion that started this month.
The company is giving away Bitcoin, Ethereum, and Dogecoin.
“The prize pool includes two million Dogecoin, 200 Ethereum and 20 Bitcoin, so only 220 guests could receive a Bitcoin or Ethereum cryptocurrency prize,” the company website revealed.
-
BURGER KING GIVING AWAY CRYPTO
Burger King announced it is partnering with RobinHood to give away cryptocurrency.
The promotion started this month and runs until December, a company statement said.
“Royal Perks members get a side of crypto with any $5+ purchase,” it read.
“Earn a crypto coin with an eligible order once per day. But hurry, this is a limited-time promotion!” the website warned.
-
CHINA’S CRACKDOWN ON CRYPTO IS ‘BIG OPPORTUNITY’ FOR US
China’s crackdown on cryptocurrency transactions “is a big opportunity for the U.S.”, according to Pat Toomey, the top Republican on the Senate Banking Committee.
This comes as the US Securities and Exchange Commission lobbied for more regulations when it comes to cryptocurrency.
-
CHINA’S STATEMENT, CONTINUED
Bitcoin, the world’s largest digital currency, and other cryptos cannot be traced by a country’s central bank, making them difficult to regulate.
The crypto crackdown opens the gates for China to introduce its own digital currency, which it is already working on and will allow the central government to monitor transactions.
-
CHINA’S STATEMENT
The PBOC said it will “resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people’s properties and maintain economic, financial and social order”.
It said that trading of virtual currencies had become “widespread, disrupting economic and financial order, giving rise to money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities.”
-
CHINA MAKES CRYPTO TRADING ILLEGAL
China‘s central bank announced that all cryptocurrency trading is illegal in the country and mining the tokens is banned.
The People’s Bank of China (PBOC) said: “Virtual currency-related business activities are illegal financial activities.”
The country previously banned financial institutions from offering crypto related transactions, and warned investors against speculative trading in them.
-
AUDIUS VALUE SOARED AFTER TIKTOK DEAL
After a deal with TikTok, the price of Audius soared.
In March, Audio spiked to $4.18, up from $2.50 just a day before as the platform’s profile began to build.
However, it plummeted soon after, and despite a rise in May, has fallen since until the end of July.
-
CRYPTO AUDIO STREAMING
Audius is a crypto-powered music streaming platform.
It’s owned and controlled by token holders – and tokens are called Audio.
According to Audius, over 5.3million people have used the platform this month.
Audio has been listed on CoinMarketCap since October 2020.
-
WHAT WILL MEASURE THE PERFORMANCE OF BITCOIN ON WALL STREET?
S&P Bitcoin Index, S&P Ethereum Index, and S&P Crypto Mega Cap Index will measure the performance of digital assets linked to them now that digital currencies including Bitcoin and Ethereum will be traded on Wall Street, according to Money Control.
-
DOW JONES EXPERT ON TRADING CRYPTO ON WALL STREET
Some cryptocurrencies will be brought to the trading floors of Wall Street, Money Control reported.
“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
This news is republished from another source. You can check the original article here
Be the first to comment