Cryptocurrency
Smaller coins saw bigger moves as investors continued to digest the implications of a second term for President-elect Donald Trump. The payments coin XRP surged 11%. The decentralized finance token tied to Cardano rocketed 40%. https://boliviancharity.com/ Memecoins dogecoin and Shiba Inu coin soared 17% and 31%, respectively.
Bitcoin’s price saw a 3% uptick, climbing to just shy of $30,000 in response to a plunge in global long-dated government bond yields. This fall in yields was triggered by China’s far weaker than anticipated trade numbers for July. The U.S. 10-year Treasury yield tumbled below the 4% mark. These macroeconomic shifts have seemingly buoyed the crypto market, with other notable cryptocurrencies like Solana (SOL), Toncoin (TON), and Chainlink (LINK) registering gains of over 4% at the time of writing.
“Crypto is poised to enter a golden era,” Alex Thorn, head of research at Galaxy Digital, said in a research note Friday. “Trump has promised to make America the ‘crypto capital of the world’ and his high level team is filled with strong crypto advocates … . The pro-crypto nature of his team, family, and donors increases the likelihood that Trump follows through on his campaign promises to the industry.”
The price of the flagship cryptocurrency was last higher by 4.5% at $79,800.19, according to Coin Metrics. Ether rose 3%, after passing the $3,000 level on Saturday. It last changed hands at $3,203.10.
Cryptocurrency exchange
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I currently have a SoFi account due via my Samsung Money account and have a few different coins there. I am looking into some other coins but they are not offered via SoFi. What exchange would to recommend? I signed up for Coinbase and went through the verification process. After adding a FOP for funding, it say my limit is $ 0.00. I reached out to support and was advised I need to upload a picture of my photo ID and do a scan of my face. Is this normal? would I be expected to do this other exchanges?
Even the ‘Low Fee’ DeFi exchanges like Cake take 0.2% in fees ontop of the network fees, which would only put them in the middle of the pack for the centralized exchanges, with no fee-cuts for things like high volume trading.
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I currently have a SoFi account due via my Samsung Money account and have a few different coins there. I am looking into some other coins but they are not offered via SoFi. What exchange would to recommend? I signed up for Coinbase and went through the verification process. After adding a FOP for funding, it say my limit is $ 0.00. I reached out to support and was advised I need to upload a picture of my photo ID and do a scan of my face. Is this normal? would I be expected to do this other exchanges?
How to buy cryptocurrency
If you happen to own some crypto already, you can deposit it into your exchange account. Remember to always send your coins to the associated address: send Bitcoin to your Bitcoin address, ether to your Ethereum address, and so on. Sending crypto to the wrong addresses could result in losses.
Some of the most well-known cryptocurrency exchanges are Coinbase, Gemini and Binance.US. While these companies’ standard trading interfaces may overwhelm beginners, particularly those without a background trading stocks, they also offer user-friendly easy purchase options.
Cryptocurrency brokers take the complexity out of purchasing crypto, offering easy-to-use interfaces that interact with exchanges for you. Some charge higher fees than exchanges. Others claim to be “free” while making money by selling information about what you and other traders are buying and selling to large brokerages or funds or not executing your trade at the best possible market price. Robinhood and SoFi are two of the most well-known crypto brokers.
There are numerous risks in cryptocurrency trading, including regulatory risk, market risk, operational risk, liquidity risk, and security risk. Fortunately, there are risk management strategies you can employ to help keep your risk exposure at a reasonable level. Let’s look at a few popular strategies.
