Bybit, the third most popular cryptocurrency exchange, announced the launch of a debit card issued by Moorwand and powered by Mastercard.
When it comes to cryptocurrency investments, volatility and the relatively novel nature of crypto in general are valid concerns. Additionally, it seems like new crypto technologies are coming along every week, making it difficult to know what is a good investment and what is simply a scam. If you base your investment decisions on social media, the latest meme coin is the next big thing, but this usually isn’t a sound crypto investment strategy.
Stablecoins like Tether are a possible counter to these challenges. A stablecoin is a cryptocurrency that is backed by real-world assets, meaning there is an actual store of value in these types of cryptocurrencies. Tether is often used as an in-between cryptocurrency when cashing out or trading coins that are not considered stable.
Investing in Tether
Because Tether price controls are pegged to the value of the U.S. dollar, investors can have more confidence in Tether. Though the value of the U.S. dollar can move up and down and affect Tether price charts, the value of Tether doesn’t tend to swing too dramatically, and efforts are always underway to protect the value of the dollar by the U.S. government.
As for whether Tether is a good investment or not depends on what you plan to get out of crypto investing. If you want a stable investment that will likely rise in value over time due to simple inflation, Tether may be an excellent investment. If you’re looking for an investment that has the potential to see massive gains in a short amount of time, Tether likely isn’t the cryptocurrency for you.
Keeping an Eye on the News
It is worth noting that Tether investors generally keep an eye on the news to watch for movement in world financial markets. The recent steps taken by BRICS countries to move away from the dollar may be a cause for concern among some investors, but only you can determine your tolerance for market movement and risk.
Disclaimer: The above is provided for informational purposes only and is not investing advice. Only a certified financial planner can provide professional investment guidance.
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A chilly pockets owned by collapsed crypto trade FTX moved nearly $10 million in altcoins from Solana to Ethereum since Aug. 31 for undisclosed causes, in keeping with on-chain information.The altcoins embody notable tokens like LINK, SUSHI, LUNA, and YFI. The transfers had been carried out by way of Wormhole Bridge.It’s unclear if the transfers are linked to the trade’s chapter proceedings or its current request to rent Galaxy Digital to promote its crypto holdings for fiat.FTX didn’t reply to a request for remark as of press time.FTX seeking to promote propertyFTX just lately filed a request with the chapter courtroom searching for permission to have interaction Galaxy Digital Capital Administration as its funding supervisor for sure digital property. The trade additionally requested permission to stake some idle crypto property to generate passive yield.Below the proposed settlement, Galaxy would handle, commerce, and convert FTX’s property into fiat forex or stablecoins, and hedge the collapsed trade’s publicity to unstable cryptocurrencies in return for a month-to-month fiduciary payment.FTX argued that Galaxy’s experience in promoting giant cryptocurrency positions with out affecting the market made it an appropriate alternative. The engagement aimed to assist FTX’s restructuring efforts by monetizing its cryptocurrency holdings.Moreover, the trade has filed a separate movement to ascertain tips for managing and promoting its digital property and to enter into hedging preparations on eligible cryptocurrencies — primarily Bitcoin and Ethereum.Collectors criticize tempoFTX is going through criticism from collectors over the sluggish tempo of its chapter plan negotiations.The trade’s legal professional, Brian Glueckstein, resisted requires expedited mediation on the newest chapter listening to on Aug. 23, saying the method is on observe for conclusion within the second quarter of 2024.A draft plan proposed by FTX on July 31 outlined the intent to repay clients by way of asset liquidation and litigation towards insiders. Nevertheless, tensions have risen over FTX’s efforts to discover a purchaser for its worldwide trade, FTX.com, and the lack of awareness shared about incoming bids.Collectors’ committee legal professional, Kris Hansen, additionally highlighted the $50 million month-to-month spent on attorneys’ charges and different prices because of FTX’s delay in resolving creditor considerations. FTX seeks to extend collectors’ restoration by way of lawsuits towards its founder, Sam Bankman-Fried, funding agency K5, and the founders of FTX acquisition targets.The chapter case was filed in November 2022 after allegations that FTX misused and misplaced billions of dollars of shoppers’ crypto deposits.Posted In: Chapter, ExchangesSupply: https://cryptoslate.com/ftx-cold-wallet-moved-almost-10m-in-altcoins-to-ethereum-since-aug-31/
The S&P 500 Index (SPX) achieved its highest close of the year last week, and Bitcoin (BTC) also hit a new 52-week high, indicating that risky assets remain strong going into the final few days of the year.
Usually, the first leg of the rally of a new bull market is driven by the leaders, but after a significant move, profit-booking sets in and traders start to look at alternative opportunities. Although Bitcoin has not rolled over, several altcoins have started to move higher, signaling a potential shift in interest.
Bitcoin Price Analysis
Bitcoin has been consolidating in a tight range near the minor resistance at $44,700, indicating that the bulls are not rushing to the exit as they anticipate another leg higher.
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