Cryptocurrency price LIVE – PancakeSwap token up as Bitcoin, Ethereum, XRP, & Elon’s Dogecoin price predictions revealed

What is Crypto.com coin?

The Crypto.com Coin is the native token of the Crypto.com and Crypto.Org ecosystems.

Also known as CRO, it launched at the end of 2018.

The Crypto.com chain was created to build a network of crypto projects and to develop merchants’ ability to accept crypto as a form of payment, according to its website.

Businesses can use Crypto.com pay checkout and/or invoice to allow customers to pay for goods and services with crypto using the wallet app.

The firms then receive their payments in CRO, stable coins or in fiat currency, which is government-issued money like dollars or pounds.

What is a blockchain?

A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit.

This ledger is the foundation of any cryptocurrency transaction.

The cryptocurrency allows people to trade currency or assets digitally outside of any government or bank.

El Salvador adopts Bitcoin, continued

However, those who do not have access to technologies that can carry out Bitcoin are excluded from being required to accept it.

The US dollar and Bitcoin are now the country’s official currencies.

It’s the first time Bitcoin has been adopted as a legal tender in a sovereign nation.

El Salvador adopts Bitcoin

The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.

The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.

Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”

Bitcoin milestone, part two

Bitcoin was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto. 

Data from Blockchain.com on Monday showed 18.9 million of the 20,999,999,9769 possible Bitcoins had been mined.

It’s a milestone that took 12 years to reach.

Experts believe the last Bitcoin will be mined in February 2140.

One Bitcoin is currently worth around $47,000.

Value could shoot up as the coins become more scarce, experts said.

Less than 10 percent of Bitcoin left to mine

There is less than 10 percent of Bitcoin left to mine as the cryptocurrency passed a major milestone in December.

Data from Blockchain.com showed 18.9million out of a possible 21million of the virtual coins have been mined.

Bitcoin is the world’s first entirely virtual currency and new currency is created by mining, a complex online process that uses computer code.

It involves using a computer to solve a mathematical problem with a 64-digit solution to create new coins.

For each problem solved, one block of Bitcoin is processed. The miner that is first to solve the problem is rewarded with a new Bitcoin.

These new coins are then stored virtually through an online database called the blockchain.

How to check for blockchain scams

Cryptocurrencies operate on blockchain networks.

Scammers often claim their blockchain is “in development” or “about to be released,” but all legitimate cryptos will have an accompanying website to verify the currency.

Users can type the name of the crypto into any search engine with the phrase “blockchain explorer” or “blockchain scan” to find the connected blockchain, if it even exists.

Fake websites and crypto

One fairly widespread scamming technique involves websites that appear to be a new cryptocurrency mining operation or investment opportunity.

The 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.

What is a digital wallet, continued

As with other cryptocurrencies, people will be able to buy and sell libras on exchanges for traditional currencies.

Facebook said that its alternative currency paves the way for smoother transactions and payments online.

The project however faced regulatory resistance over concerns about security and reliability.

In December 2020, Libra changed its name to Diem and moved its operations from Switzerland to the US as part of a “strategic shift.”

What is a digital wallet?

A digital wallet is a gadget or piece of software that securely stores users’ payment information and passwords for numerous payment methods.

It allows users to store cryptocurrencies, make online or in-store purchases, and track their finances.

In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra.

The tech titan said it wanted to create a separate, private currency system to allow users to make cross-border payments more easily.

Robinhood prepares to launch cryptocurrency wallet

Robinhood announced a new partnership with a blockchain data analytics platform ahead of its planned cryptocurrency wallet launch.

Robinhood will use Chainalysis’ data, analytics, and software to meet compliance requirements and provide secure crypto transactions, Motley Fool reported.

The partnership comes ahead of the planned 2022 launch of Robinhood’s crypto wallet.

More than 1.6million people are on a waitlist for the new feature, according to Motley Fool.

Risks of Robinhood, part three

In July, the platform was also ordered to pay nearly $70million in fines and compensation for misleading customers and outages.

If you are seeking a discount broker and are looking to open an IRA account, you can check out the following platforms: Vanguard, Fidelity, TD Ameritrade, Merrill Edge, among others.

Risks of Robinhood, part two

For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.

Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.

In fact, Robinhood faced some outrage last year when it restricted trading on meme stocks including GameStop and AMC.

Risks of Robinhood

When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.

If you choose Robinhood to trade stocks and cryptocurrencies – then the game gets even riskier.

Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.

For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.

Can you trade crypto on Robinhood?

Unlike most of its discount rivals, Robinhood offers 24/7 crypto trading through its platform.

That means you’ll have access to trade major cryptocurrencies including, Dogecoin, Ethereum, and Bitcoin.

Its crypto investors can buy or sell with a market order, which means it’s executed at the current market price.

What is Robinhood, continued

Unlike many discounted brokers, the company does not offer individual retirement accounts.

The bulk of Robinhood’s revenue comes from order flow.

What is fiat?

If you’ve ever seen the word fiat used in the cryptocurrency world, know that it was not in relation to the car brand.

Fiat is a term used to refer to government-issued currency.

Cryptocurrency, or virtual money like Bitcoin, is not backed by governments or standards typically associated with fiat, which is why investors warn of crypto’s volatility.

Donating with cryptocurrency

Churches are starting to see more donations made using cryptocurrency, according to Christianity Today.

James Lawrence told the news organization that donations made on his platform Engiven using the virtual currency were slow in 2019 and 2020.

By fall of 2021, the platform had processed cryptocurrency donations for more than 700 nonprofits.

The list of recipients includes well-known organizations like The Salvation Army and Ronald McDonald House Charities.

Up to 400 recipients were churches, Lawrence said, as more congregations move to accept the digital currency.

Gifting NFTs and digital assets, part two

Some young investors looked forward to gifting friends their first digital assets last year.

A San Francisco-based 26-year-old told CNBC that she plans to gift close friends and family digital assets like Ethereum Name Service (ENS) domains and NFTs.

A domain for the Ethereum blockchain represents an investor’s cryptocurrency address, appearing like “YourName.eth”.

It’s personalized rather than the random string of letters and numbers that typically signifies a user’s wallet.

What is Robinhood?

The Robinhood platform operates as a discounted brokerage that offers commission-free trading.

Specifically, users can trade exchange-traded funds (ETFs), individual stocks (including American depositary shares), and options.

You can also trade Robinhood’s stock thanks to the company recently going public at a $1.2billion valuation.

Gifting NFTs and other digital assets

Young investors told CNBC that they planned to gift cryptocurrency, NFTs and other digital assets this past holiday season.

A 23-year-old from San Antonio, Texas, said she would get her sister and parents an NFT of a digital land lot to share in the metaverse.

She also planned to buy collectible NFTs from projects that aim to empower women, like World of Women and Crypto Coven.

The digital gifts could cost thousands of dollars depending on factors like metaverse game, demand, and size, CNBC reported.

GYEN price predictions, continued

Wallet Investor expects the price of GYEN to add another zero and fall to $0.00845 in a year’s time.

Meanwhile, Digitalcoin expects GYEN to gain to around $0.022 in 2021.

Furthermore, Goldman Sachs expert Andrew Lokenauth is even more bullish on GYEN.

“From my prior experience, I feel it will be included on other exchanges due to demand,” he told The Sun.

“Also, due to current hype and mentions of GYEN on Reddit and Twitter, this can easily reach 10 cents.”

Long-term GYEN price predictions

The price of GYEN has jumped thanks to becoming available to Coinbase pro members.

Where the price will wind up in the future is tough to predict – and it is yet to be included on other major exchanges like Robinhood.

Marie Tatibouet, chief marketing officer of crypto exchange Gate.io, told The Sun that stablecoins aren’t exactly supposed to surge in trading like this.

“It looks like the demand is so high that the peg has failed to hold,” she said.

“A good stablecoin shouldn’t surge or fail under scrutiny.”

Crypto losses and tax benefits

Investors can claim deductions on cryptocurrency losses that can lessen tax liabilities or result in a refund, according to Coindesk.

Any losses can be used to offset capital gains, and if you have no gains, you can claim a deduction.

The Coindesk article explains the IRS code and other ways to put cryptocurrency losses to work.

Russia considers crypto ban, part two

The proposed ban on cryptocurrency investments comes as Russia was said to be working on its own ruble-backed digital currency.

Roughly $5billion in crypto transactions take place in the country annually, and nearly 12 percent of the population may already own crypto, according to Fortune.

That was compared with a little more than 8 percent of the US population that owns crypto.

Russia also reportedly invested in crypto in 2019 to limit the impact of sanctions over meddling in the 2016 US Election, Fortune reported.