- 13:33 ET, Dec 21 2021
- Updated: 13:33 ET, Dec 21 2021
A MAJOR Bitcoin investor thinks the token will hit $6million.
According to a November interview with The Information published in a Tuesday newsletter and reported by Business Insider, Saylor also doesn’t “believe you should sell your Bitcoin.”
As of 12pm ET Tuesday, Ethereum was up 3.95 percent in the past 24 hours on Coinbase.
Read our cryptocurrency live blog for the very latest news and updates…
Risks of investing in cryptocurrencies
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.
Apple plans for crypto
Cook continued by saying that although Apple was looking at cryptocurrency technology, it’s “not something we have immediate plans to do.”
An Apple Pay executive said in 2019 that the company sees “long-term potential” in cryptocurrency.
But it seems like crypto fans shouldn’t get excited, because even if Apple does introduce cryptocurrency products or services in the future, it doesn’t seem like it will happen anytime soon.
Apple CEO Tim Cook owns crypto
Apple CEO Tim Cook recently revealed he owns cryptocurrency.
“I’m not giving anyone investment advice by the way,” he noted.
What are Shiboshi NFTs?
Shiboshi NFTs are non-fungible tokens representing various “lovable creatures.”
The NFT holders will also be able to name the Shiboshis for an additional $100.
The Shiboshis will come with generic names like 00001.
The post states: “It’s important to name your Shiboshi because names are unique and can only exist once in the Shib Oshiverse.
“With the expansions, we are planning, this could potentially make your Shiboshi more valuable.”
Seven crypto ads banned, part two
The Advertising Standards Authority is looking to produce new guidance on cryptocurrency.
Monitoring crypto assets is a “red-alert priority” for the regulatory agency, BBC News reported.
The news outlet said companies with ads found to have broken the rules were:
- Coinburp: A Twitter page for the cryptocurrency trading platform
- eToro (UK): A paid ad for the stocks and cryptocurrency trading platform
- Payward: A digital poster for Kraken, an online cryptocurrency exchange
- Exmo Exchange: A YouTube video promoting the cryptocurrency exchange
- Luno Money: An in-app ad for the cryptocurrency exchange service Luno
- Coinbase Europe: A paid Facebook ad for the cryptocurrency exchange platform
- Papa John’s GB: A promotion on the Papa John’s pizza restaurant chain’s website and in a Twitter post
UK regulator bans seven crypto ads
The United Kingdom’s Advertising Standards Authority (ASA) banned seven cryptocurrency advertisements following concerns.
All seven ads were “banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment”, the news organization reported.
Crypto.com coin price prediction
The Crypto.com Coin cryptocurrency hit a record high on November 15, reaching $0.52 at its peak, according to CoinMarketCap.
In comparison, it was sitting at just $0.05966 on January 1 this year.
The Crypto.com token has increased in value thanks to a number of factors.
For example, it has secured several high-profile sponsorship deals in 2021 including the UFC, Formula One Racing, and Matt Damon’s Water.org.
From December, the Staples Center – home to the Lakers and Clippers – will also be called Crypto.com Arena.
Whether the Crypto.Com Coin continues to soar in value remains to be seen, but plenty of crypto fans have still made predictions.
For example, Wallet Investor expects the token to hit a value of $0.538 in one year and $0.8023 in five years.
Meanwhile, Digital Coin Price has set a 2021 forecast of $0.7036, a 2023 value of $0.9636 and it expects a 2028 price of $2.09.
Who founded Crypto.com?
Bobby Bao is a co-founder and managing director of Crypto.com, which was formerly known as Monaco.
Gary Or is another co-founder and is the head of technology at Foris – a universal money app, according to topionetwork.com.
The other co-founder is Rafael Melo, who, according to Topio Network, has 15 years’ experience in finance.
Crypto.com coin, continued
Crypto.com itself is one of the fastest-growing cryptocurrency businesses in the world.
Keegan Francis, crypto editor and expert of Finder, told The Sun the coin has many uses, but most notably is that it can be used to stake crypto on the mobile app in order to get the Crypto.com Visa debit card.
He added: “Staking higher amounts of CRO across the platforms rewards users with more features and rewards.
“Investors need to keep in mind that the token itself is tied directly to the success of the Crypto.com ecosystem.
“That being said, Crypto.com has taken the initiative to decentralize CRO by building it into their own decentralized blockchain called Crypto.org.
“This is a good step for them to take in order to ensure the longevity of their token.
“It creates less dependence on the company itself, and begins to build out an independent community of developers, and market participants.”
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.
Robinhood partnership targets crypto trading security
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 1.6 million people are on a waitlist for the new feature, according to Motley Fool.
Play-to-earn gaming, part two
The new play-to-earn gaming model that rewards gamers with cryptocurrency for playing isn’t technically free.
Gamers could have to spend $1,000 or more in order to start earning in the Axie Infinity universe, according to Forbes.
The popular platform for play-to-earn gaming requires beginners to have three “Axies,” which are available for purchase on the game’s Marketplace Dashboard.
Participants can then earn cryptocurrency for selling potions, breeding rare Axies, and playing various games.
What is play-to-earn gaming?
Axie Infinity is the most popular platform for play-to-earn gaming at the moment.
It allows users to build a collection of “Axies” that players can use across its universe of games.
The company then uses Blockchain to reward players for gaming, according to Forbes.
Any digital assets earned by participants can be sold on the platform or traded outside Axie Infinity’s universe.
US to stem ‘illicit use’
A recent statement from President Joe Biden said: “Cyber threats can affect every American, every business regardless of size, and every community.”
“That’s why my administration is marshaling a whole-of-nation effort to confront cyber threats.”
The White House signaled that the US will gather 30 other countries to discuss responses to cybercrime.
“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” a previous statement read.
What is an NFT marketplace?
An NFT is a non-fungible token.
Non-fungible tokens, in contrast to Bitcoin, are each unique and cannot be replaced by something else.
The majority of NFTs exist within the Ethereum blockchain. Ethereum is a cryptocurrency that has the ability to support NFTs.
NFTs can be anything digital, and are commonly being used as a way to buy and sell digital art.
An NFT marketplace is used to list NFTs and ensure they are accessible for trading.
Marketplaces allow users to promote their NFTs, where buyers can browse through and bid on what they would like to purchase.
What is NuCypher, continued
This allows users to share private data with a number of others in a secure way.
Holders of its token NU can stake their tokens through the network to run a node, which is responsible for creating and sending information.
Interestingly, NuCypher token is an ERC-20, which means it is built on Ethereum.
What is NuCypher?
NuCypher was founded by Michael Egorov MacLane Wilkison in 2015, but it wasn’t until 2019 when the public testnet for NuCypher’s network was launched.
NuCypher specifically operates as a decentralized key management system that uses blockchain technology.
Crypto wealth and luxury goods
Cryptocurrency wealth is leading to a new generation of luxury consumers in the United States, according to Markets Insider.
The news organization pointed to a report from investment bank Jeffries, which found young buyers are spending crypto winnings on expensive jewelry, apparel, and accessories.
The group, comprised of people under 35, is said to be increasingly buying artwork such as non-fungible tokens (NFTs), in addition to luxury brands.
While Chinese consumers are still the major force in luxury spending worldwide, the report said American buyers are set to propel luxury sales beyond pre-pandemic levels.
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 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.
Crypto scams and dating apps
Some cryptocurrency scam operations have started using dating apps to reel in potential targets.
In some reports, scammers pose as a long-distance love interest sharing a hot new cryptocurrency opportunity.
About 20 percent of the money lost through dating scams in the last year reportedly involved cryptocurrency.
What is Ethereum?
Ethereum is a cryptocurrency released in 2015 that is second largest after Bitcoin.
Some experts believe it has the potential to one day overtake Bitcoin as the dominant coin in the market.
It was founded by eight people, one of which is 27-year-old cryptocurrency “celebrity” Vitalik Buterin.
He recently became the world’s youngest crypto billionaire as Ethereum soared in value.
Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programs.
What are Altcoins, continued
Simon Peters, crypto-asset analyst at eToro, said: “They build on the success of bitcoin by slightly changing the rules, economics or use cases to appeal to different users.”
“Altcoins vary greatly in their use cases and practical application. They typically have a form of technology they underpin or provide a liquidity solution to a product or service.”
What are Altcoins?
Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to allow secure transactions.
Altcoin is a category of cryptocurrency rather than a currency itself, and there are more than 900 different altcoins available.
Elon Musk says Dogecoin is best for transactions
The CEO of Tesla and SpaceX says Dogecoin is the best cryptocurrency for transactions.
Elon Musk told Time Magazine that the meme coin is better suited to transact with over Bitcoin for two reasons.
He said the transaction volume of Bitcoin is low and the cost per transaction is high.
Musk said he believes Bitcoin is more suitable as a store of value while Dogecoin “encourages people to spend, rather than sort of hoard.”