As the sensational year of cryptocurrencies is coming to an end, some of the smallest cryptocurrencies have also ushered in brief moments of highlights.
According to Coinmarketcap data, Polkadot and Cardano became the two cryptocurrencies with the biggest gains on Monday, both rising by more than 6%, and then fell back. As of press time, Bitcoin has fallen by 0.97% to US$50,942.66 per coin; Ethereum has fallen by 0.72% to US$4062.67 per coin. Matt Maley, chief market strategist at Miller Tabak + Co, said: "There is no doubt that Bitcoin's dominance has weakened recently. I think this is simply because some investors are chasing the ‘newest thing’." The increasing attention of alternative currencies other than Bitcoin is not a new trend. With the expansion of the crypto economy, investors' attention has turned to other areas of the market. Many cryptocurrencies (except for a few large cryptocurrencies) have seen amazing rises this year. Dogecoin, Cardano, and Shiba Inu coins, once considered the most speculative cryptocurrencies, have become household names this year. Mati Greenspan, founder and CEO of Quantum Economics, said: "Bitcoin is making rapid progress in the global economy, but it is easy to see that some smaller, faster-growing cryptocurrencies are surpassing Bitcoin." This dynamic change has weakened Bitcoin's dominance. According to a report by CryptoCompare, the total assets under management of Bitcoin-related investment products fell by 20% to 39 billion U.S. dollars in December. In addition, data shows that the proportion of Bitcoin products in the total amount of digital asset investment tools has dropped from 70.6% to 67.8%, which is the lowest level this year.
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According to reports, Japanese financial giant SBI Holdings has launched the country's first cryptocurrency fund for individual retail investors. In addition to a wide range of securities and banking businesses, SBI also operates or partially owns many cryptocurrency exchanges and a cryptocurrency mining department. It is also one of Ripple's closest affiliates. According to reports, after the company experienced another bullish year in the crypto space, SBI fulfilled its promise to issue a Japanese crypto fund before the end of 2021. Investors need to pay approximately $44,100 to join the fund, which will consist of seven tokens, including XRP and Bitcoin (BTC) related to Ripple. The company seems to have concealed the names of the remaining five tokens, but these are considered the leading altcoins, and Ethereum (ETH) may also be among them.
On December 13th, Khaldoonal-Mubarak, CEO of Mubadala Investment Capital, the sovereign fund of Abu Dhabi, expressed his appreciation for cryptocurrency in a recent interview with CNBC. He claimed that the fund is investing funds into the crypto ecosystem and listed blockchain technology and energy as the areas of most interest: “From our perspective, I think we are looking at the crypto ecosystem and are Invest in this ecosystem. This may be in terms of blockchain technology, energy use, etc." It is reported that Mubadala Investment Capital manages US$243 billion in assets. The fund has been involved in cryptocurrencies as early as 2019, investing in MidChains, the UAE's first regulated cryptocurrency exchange. MidChains launched the trading of four cryptocurrencies (BTC, BCH, LTC and ETH) at the end of September.
Although some well-known investors invest their funds in digital currencies, the vast majority of financial managers are still hesitant to invest in cryptocurrencies. According to the market intelligence platform, many large companies are engaged in crypto transactions and see digital currencies as a worthwhile investment.
One of the most common issues considered by some potential crypto investors is security. As part of the digital realm, cryptocurrencies are vulnerable to hacker attacks. After constantly searching for solutions, KuCoin introduced trading passwords and other functions to the market to make the currency more secure and unique. Therefore, if you want to invest in KuCoins, you need to know the following things: 1. Kucoin definition Founded in 2017, KuCoin is a global cryptocurrency exchange that provides many trading opportunities for its millions of members. KuCoin promises to provide the highest level of security and approximately 400 cryptocurrencies. In addition, it has one of the most generous profit-sharing incentives, giving traders more reasons to invest in it. 2. KuCoin Token (KCS) Many popular exchange tokens, including KuCoin's local currency KCS, are rising in value. Since August 21, 2020, the price of the token has risen by more than 700%, attracting the attention of crypto and blockchain investors. KCS tokens have multiple uses and purposes. On the one hand, investors can use KuCoin for exclusive activities such as trading and sales. Tokens are also used as payment mechanisms in various applications, including games, retail, non-financial transactions, and even travel. The platforms that accept KCS include SwirlPay, PlayGame, Travala, Print-ted, PundiX and BetProtocol. 3. Advantages of Kucoin Exchange Like any other exchange, KuCoin allows its investors to purchase, trade, and securely store various cryptocurrencies through its Internet platform or mobile application. You can create an account with only an email address or phone number. Those accounts that have completed the verification process will receive additional services, as well as lower costs and opportunities for prizes. 4. KuCoin trading robot Trading robot is a function provided by KuCoin, which makes users' transactions easier. Users can specify specific transaction standards and let the robot do the rest after opening an account and depositing funds. Trading robots also analyze prices and forecasts by using market information, analysis and other techniques. It then applies this combination of knowledge and user preferences to place, buy, and sell orders as prices change. 5. Kucoin investment advantages This cryptocurrency exchange is ideal for professional traders looking for more currencies and complex functions. The combination of its "social" and "transaction" components will simplify crypto trading and help KuCoin become the most prominent social trading platform in the crypto market. 6. Benefits of investing in KuCoin Lowest cost There are no monthly account fees, and withdrawal fees are comparable to other exchanges. Depositing cryptocurrency is free, while depositing traditional currencies (such as U.S. dollars) is not. The price depends on how you send money and the third-party application you use. Wide coin KuCoin provides a more comprehensive range of cryptocurrencies than many other exchanges or brokerage companies. If you want to venture into more secondary and well-known currencies, it's worth a look. Unique features KuCoin provides many additional functions, but you should consider whether to use it. For example, margin trading enables you to take advantage of your position by borrowing money to obtain additional cryptocurrency. Extra security KuCoin added a trading password when the new platform was launched to improve the security of accounts and assets. Withdrawal, API verification, transactions (including spot, P2P fiat currency transactions, Kucoin futures transactions, and margin lending/transactions) all require transaction passwords. KuCoin is a popular trading platform. It ranked among the top cryptocurrency exchanges in August 2021. Its UI is easy for novices to master, and it rewards enthusiastic investors with continuous income. Investing in cryptocurrency may be risky, please invest carefully according to your personal circumstances. This article is only a personal opinion and does not constitute any investment and financial advice. At the same time as the popularization of blockchain, frauds against various virtual currencies are constantly "updated and iterated". Recently, the Xiamen city police released a fraud case of "pretending to be a virtual currency platform customer service", revealing the fraud methods and 5 obvious characteristics of the new scam.
Case: Mr. Huang, a citizen of Xiamen Citizen Mr. Huang usually invests in virtual currencies on platforms such as Huobi.com. Recently, he received an overseas call who claimed to be the customer service of Huobi platform. The other party not only obtained Mr. Huang’s trading account password and transferred Mr. Huang’s virtual currency worth 40,000 yuan, but also defrauded Mr. Huang’s 20,000 yuan on the grounds that “the account is abnormal and the funds need to be hedged.” According to Xiamen police analysis, the scam Mr. Huang encountered was a new scam pretending to be the customer service of a virtual currency platform. Similar to some scams pretending to be shopping websites, payment platforms, and bank customer service, victims frequently appear! This is an upgraded version of this type of scam in the field of virtual currency. Citizen Mr. Huang is not the only one who has been recruited. You must be vigilant! Relevant background: The exchange will clear domestic users at the end of the year In September this year, the People's Bank of China and other departments jointly issued relevant notices to implement supervision of virtual currencies. The major virtual currency trading platforms have successively stopped the registration of new users of the trading platform since September, and cleared and refunded the assets of users in mainland China. The deadline for clearing and refunding is the end of December. The new scam uses this information to deceive through the following steps. Fraud step analysis: 3 actions cost you 60,000 first step The scammer used overseas calls to impersonate the customer service or security department personnel of the virtual currency exchange, and accurately stated the victim's real name, transaction account number, etc., even specific to the transaction time and amount, in order to gain the trust of the victim. Second step The scammer asked the victim to download the designated software on the grounds of "transferring the virtual currency platform funds to the designated software for fund verification", and in the process turned on the "screen sharing" function of other software, so as to obtain the victim's newly downloaded designated software Registration information. third step After the victim transfers the funds to the designated software, the scammer uses the previously obtained account information to log in to the victim's software account and finally transfer the funds away. Please recognize the 5 characteristics of the new scam! According to Xiamen police analysis, this type of fraud generally has the following 5 characteristics: 1. Pretend to be the customer service of virtual currency trading platforms such as Huobi, Binance, Beitong, Ouyi, etc; 2. The fraudulent calls are irregular 00 overseas numbers and +852 Hong Kong numbers; 3. For existing users who are authenticated as Mainland China, the victims are mainly required to cooperate on the grounds that "the trading platform will be unavailable and the virtual currency needs to be cleared", "upgrade overseas accounts", "money laundering", and "illegal possession of black coins"; 4. The scammer guides the victim to download the designated App for video calls, screen sharing and other operations; 5. The scammer guides the victim to open a loan platform to make a transfer or defraud the victim's SMS verification code to transfer money. Xiamen City Police Remind The Xiamen police issued the following reminder, everyone must keep in mind: "Refund of users in Mainland China", it is fraud that guides the withdrawal of coins; It’s a scam to send you coins first, and then ask to withdraw coins to a "secure address"; Screen sharing, guide to eliminate account risks and withdraw coins is a scam; Sending an "airdrop link" to log in to your account on an unofficial website is a scam; Claiming to be a public security law, allowing you to withdraw coins to a "secure address" is also a scam. |
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