Investing in BNB and other cryptocurrencies: This is how they are listed today

Digital currencies have seen ebbs and flows of late, with some billionaires — like Elon Musk — and governments choosing to give them a boost as legal tender, boosted not only by the coronavirus pandemic, but some as well Setbacks have been recorded such as the “cryptocrash” that took place in early May this year and kept many virtual currencies in check.

Despite this panorama, more and more people have decided to enter the world of cryptocurrencies, hoping for a medium and long-term investment volatility that characterizes them.

Here we bring you the Price of major cryptocurrencies for this September 4th, 2022:

That Bitcoin It is trading at $19,867.97 today, a change of -0.51% in the last few hours.

The second most popular virtual cryptocurrency on the market, Ethereum, has shown a movement of -0.6% in the last 24 hours, bringing its value to $1,567.75.

On Connect USAis trading at $1, so it had a -0.01% move in the last day.

For his part BNB has a value of $278.77, with a change of 0.49% during the Litecoin it does the same at $60.15 after a -1.46% swing.

Finally, that doecoinone of the digital currencies promoted by Elon Musk himself is valued at $0.06 after presenting a 2.88% change over the past 24 hours.

The crypto crash: the nightmare of digital currencies

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Properties of some cryptocurrencies. (Illustration: Anayeli Tapia)

In May 2022, cryptocurrencies revealed that they cannot escape the speculative appetite, no matter how hard they tryafter the so-called “crypto winter” or “cryptocrash” several digital currencies like that crashed Bitcoin, Ethereum and LUNA from Terra, Situation that left many investors without savings.

He is named “Crypto Winter” if prices fall unexpectedly and no improvement is discernible or forecast for the next six months.

This latest episode was fueled by several elements: inflation in the world and the proposal to ban the use and extraction of these substances in Russia, which is currently in conflict with Ukraine.

This worrying term further alludes not only to the sharp drop in virtual currencies, but also to declining trading volume and months of market stagnation. a phenomenon that is also not new, since there was only a similar event in 2018.

However, the taste in the mouth left by the recent crisis differs from what has been experienced four years ago since this crypto crash has captured all digital currencies in a domino effect and not just a few, so the fear that the negative effects could last longer is latent.

The recent crisis fed bitcoin unexpectedly lose 77% of its value, until reaching the $28,000 barrier; while others like Ethereum lost 30.88% of their value this month. The ripple effect also affected Terra’s stablecoin LUNA, which fell more than 100% from $118 to $0.09, a hit it still can’t recover from.

Despite the current scenario, there are still those who are hoping that digital currencies will recover, while others have invested in them with the same belief to take advantage of the recent catastrophe that has also left others without savings.

Virtual currencies in Latin America

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Citizens protest in San Salvador (El Salvador) against the use of Bitcoin as a means of payment. EFE/Rodrigo Sure

Cryptocurrencies in Argentina: Despite the fact that virtual currencies are not legalized in Argentina, their popularity has increased after decades of financial instability that citizens have faced, becoming one of the Latin American nations with the largest cryptocurrency presence. In this sense, President Alberto Fernández has proposed its use to combat inflation.

Besides Bitcoin, another of the most popular cryptocurrencies is LUNA, a token traded on the Terra System and available for purchase on the Tienda Crypto platform. This cryptocurrency has managed to reach an all-time high as high as $119.18.

Cryptocurrencies in Mexico: The Bank of Mexico (Banxico) has established that none of the institutions participating in the national financial system may use or permit transactions of any kind through this means of payment. However, according to a study by the country ranks 14th out of 27 nations that have virtual currencies, surpassing Venezuela and Colombia with around 13 million users in 2021 finder.

In Mexico, businessman Ricardo Salinas Pliego, one of the richest in the country, has shown interest in cryptocurrencies and has asserted that several of his companies, including his bank, will accept bitcoin in the future; currently, one of his most popular stores already does.

Cryptocurrencies in Peru: The Central Reserve Bank of Peru (BCR) has made it clear that its role is not to be the first or second central bank to regulate the use of cryptocurrencies due to the instability that characterizes it. However, days ago, the President of the (BCR) assured that the BCR is working on its own digital currency project.

Cryptocurrencies in Colombia: In the South American country there are more than 500 sites where you can pay with cryptocurrencies. As of December 2021, it became the third fastest growing country in the world for Bitcoin holders, according to Finder, behind only Russia and Norway.

Cryptocurrencies in Central America: in the government of The saviourhas expressed his confidence in him and on June 9, 2021 was the first country to legalize bitcoin as legal tender. Additionally, President Nayib Bukele announced his intention to build the first Bitcoin City in Conchagua, which would be funded by Bitcoin-backed tokenized bonds.

Cryptocurrencies, industrial activity?

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Bitcoin cryptocurrency logo. (REUTERS/Eric Gaillard)

In view of a scenario in which the global economy faces various challenges such as inflation, the Russo-Ukrainian war, the impact on supply chains due to the COVID-19 pandemic and other elements, governments have started to do so reconsider previously unimaginable alternatives, such as cryptocurrency regularization.

Recently the President of ParaguayMario Abdo Benítez, vetoed a bill recognizing mining Cryptocurrencies as an industrial activity and with that in mind, set a percentage to establish a consumption quota, among other requirements.

The initiative – which continues to be debated in both chambers to decide whether or not to respect the president’s veto – has sparked debate and raised more than one eyebrow at the considerations and the potential scope it could have since this should not be forgotten El Salvador is the only country in the world that has recognized bitcoin as legal tender.

This is what the Paraguayan project, previously approved by Congress, proposes the rate for mining digital currencies does not exceed 15% in relation to the current industry rate, it also issues permits for service providers and miners.

Another important aspect is that it is suggested create a dependency that it only specializes in cryptocurrencies and imposes sanctions and other types of measures.

However, the presidential decree highlights that crypto asset mining is marked by a high electrical energy consumption and low labor input, so cannot be categorized as industrial consumptionbut as electricity-intensive consumption, which can also jeopardize the development of domestic industry, since in the not too distant future the situation could arise that the country will be forced to import electricity.

In terms of the facts, the Paraguayan Central Bank has warned against it None of the cryptocurrencies in existence today are endorsed by any monetary authorityare therefore not monitored, guarantee no protection or security for those who use them and are very risky investments.

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