Cryptocurrency price LIVE – Bitcoin & Shiba Inu coin recover as Unstoppable Domains releases NFT for E… – The Sun

The most valuable cryptocurrencies

Cryptocurrency prices hit record highs earlier this year amid interest from high profile individuals such as Elon Musk and more institutional investment in the sector.

The most valuable coins are Bitcoin and Ethereum but there are lots of alternatives or altcoins aiming to benefit from crypto interest.

Values can be volatile though and regulators have warned that investors could lose all their money.

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.

Crypto investor death mystery, continued

Cotton took with him to the grave the keys that allowed access to a digital vault containing cash investors ploughed into Quadriga CX.

Jilted investors have demanded his corpse be exhumed and tests run to confirm it is his body.

Criminal probes continue by the Royal Canadian Mounted Police and the FBI as leading digital investing publication Coindesk branded his death as “crypto’s biggest mystery”.

Crypto investor death mystery

A new documentary on rogue crypto trader Gerald Cotton, who took up to $215million in Bitcoin and other digital currencies to his grave, has sparked rumors he may have faked his death.

Cotton’s sudden death from complications of Crohn’s disease at age 30 shocked the crypto world – but some believe it may have been part of an elaborate “exit scam”.

One source in the documentary goes as far as to claim Cotton may have used a substance known as “Haitian zombie powder” to fake his death.

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.”

Dogecoin spikes after Tesla news

Dogecoin saw a more than 20 percent jump after Elon Musk announced Tesla would start accepting it as payment.

He said in a Tweet that Tesla would allow purchases of some merchandise with Dogecoin and “see how it goes.”

Dogecoin went from a fraction of a penny in worth at the start of 2021 to a record-high price above 74 cents in May, CNBC reported.

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.

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.

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.

What is the Metaverse? continued

Meta’s VR boss Andrew Bosworth said: “The metaverse is a set of virtual 3D spaces where you can share immersive experiences with each other when you can’t be together.”

“What comes after the internet? Instead of looking at a screen, you get to be in the experiences.

“You don’t have to experience it in VR. Most people initially will experience it on screens they already have.”

Facebook’s Mark Zuckerberg called it “the next version of the internet,” and predicted the true metaverse will be ready within the decade.

What is the Metaverse?

The Metaverse has a broad definition. It is an internet, but it is immersive – so you live within it.

The platform will have games, social networks, videos, shopping, health and fitness and more.

How to create, buy and sell NFTs, part three

Buying an NFT, like any collectible, is a risky bet on the value going up.

If there is no demand for the NFT you buy, then you could end up paying a large amount for something that declines in value or that you cannot sell.

NFTs are still a new market so there is unlikely to be the same demand you will find for other physical items such as trading cards, art, or classic cars.

You could also create your own NFT but there is no guarantee of a buyer and you could end up wasting your time and money.

Like Bitcoin, you can buy and sell NFTs on specialized online marketplaces.

How to create, buy and sell NFTs, part two

If you’ve chosen Ethereum as your blockchain, here’s what you’ll need to mint your NFT.

First sellers will need an Ethereum wallet, such as MetaMask, Trust Wallet or Coinbase Wallet.

Next you will need around $50-$100 in ether.

Once you have these, you can connect your wallet and upload the music, image, or file that you want to turn into an NFT.

How to create, buy and sell NFTs

NFTs are tradable, unique items that have taken the internet by storm in recent months.

Some of the virtual assets have sold for millions of dollars, but most people still have no clue what they are – or where you can buy and sell them.

To create an NFT, you need to choose what to create — from artwork, music, collectibles, digital trading cards, movies, video footage, and more.

Then choose which blockchain you want to issue your NFT on and get ready to sell.

Cryptocurrency may shut down Kosovo’s power supply

The mining of cryptocurrencies has often been linked to the high usage of electricity.

The government of Kosovo has highlighted the adverse effects of cryptocurrency mining on a country’s electricity supply by placing a complete ban on cryptocurrency mining, as the Balkan state grapples with an energy crisis.

Indeed, the fears of crypto mining on the country’s power supply have forced the government to instruct security services to arrest citizens that defy the order.

R.I.P. Mr Goxx, the crypto-trading hamster

Sadly, Mr Goxx, the crypto-trading hamster, passed away on November 23.

The tragic news was shared on Mr Goxx’s official Twitter account.

“We feared this day like no other and are truly shocked for it to happen just now,” Mr Goxx’s Twitter account tweeted on Wednesday.

“In deep sorrow, we have to announce the loss of our beloved furry friend.”

The account continued: “Being with us as a pet for quite a while, he became famous out of nowhere. Mr. Goxx has brought joy to people all across the globe and reminded us not to take life too seriously.

“He shed light into dark moments of pandemic, inflation and many kinds of trouble.”

‘Decision tunnels’

The amount to be traded is determined when Goxx runs through one of two “decision tunnels”.

Depending on which tunnel he runs through, the amount he will buy or sell the cryptocurrency changes in 20 euro increments.

All of the data is rigged to a computer that makes the transactions in real-time on Goxx’s behalf.

Goxx’s creators

Speaking to the BBC, the two 30-something German men behind Mr Goxx the crypto-trading hamster explained that the idea started as a joke.

“We felt that everything keeps getting more expensive these days and building savings is super-hard to achieve with high rents to pay,” they said.

“It seems like most people from our generation see no other chance than throwing a lot of their savings on the crypto market, without having a clue what’s going on there.

“We were joking about whether my hamster would be able to make smarter investment decisions than we humans do.”

Crypto-trading hamster, continued

The four-legged financial fiend was not completing transactions himself, of course.

Instead, Goxx’s trading decisions were made inside a camera-rigged “office” attached to his regular cage.

Every day, when he entered the office, a stream was started on Twitch and a tweet was sent out to his followers notifying them that trading had begun.

The hamster then ran on an “intention wheel” that chose one of 30 different cryptocurrencies to trade.

A crypto-trading hamster outperformed market

A hamster in Germany previously traded in cryptocurrencies and consistently outperformed the S&P 500.

The furry animal, called Mr Goxx, was busy working since June, thanks to a specially adapted cage.

He determined which currencies to buy or sell by running on his wheel or walking through one of two tunnels.

Mr Goxx started trading on June 12, 2021.

The site states that the page is just for fun and does not offer financial advice.

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.

Record crypto investments, part two

The crypto industry blew up in 2021 with crypto exchanges, start-ups dealing with NFTs, and play-to-earn gaming all highlighted as factors by Fortune.

Increasing interest in the Metaverse also led to multi-million dollar investments.

Crypto investments top $30billion

Investors contributed a record $30billion to the cryptocurrency industry in 2021, according to Fortune.

The news outlet cited data from Bloomberg News that reportedly showed $7.2billion came from investors based in the United States.

The $30billion is almost four times the $8billion that investors spent with companies in the crypto industry in 2018, Fortune reported.