2 Toxic Cryptocurrencies to Sell Right Now
October has been a spectacular month for meme cryptocurrencies as two of the market’s most hyped-up assets soared to eye-watering levels. 2 toxic cryptocurrencies to sell right now. Shiba Inu (CRYPTO:SHIB) and Dogecoin (CRYPTO:DOGE) are up 40% and 1,000%, respectively, over the last 30 days. Toxic cryptocurrencies to sell right now.But without compelling fundamentals to justify the bull run, investors should consider taking profits before this bubble bursts.
Cryptocurrencies as a Digital Currency and Their Significance
Cryptocurrencies are regularly discussed in most finance-concerned talks. It is an alternative to a fiat money payment, which is gradually gaining its unique place in the financial market.
It can be compared to Tonybet, an online alternative to traditional offline betting with the same features but anonymously.
Crypto is a type of electronic money that is operated on the technology named blockchain. It is a blend of coding and mathematics as well as a progressive computer net.
Cryptocurrency is regulated by several local offices overall and not adjusted by any government or authority in comparison to fiat currency. Cryptocurrencies are split up into coins, and tokens. The first one operates on its own blockchain and is used during transactions. The second one is built on the existing blockchain.
Dog-Themed DeFi Project Mysteriously Loses Fundraised $60 Million
A DeFi project that launched on Thursday had raised $60 million overnight during its token sale. However, the funds seem to have disappeared, and no one is sure exactly how.
On Friday, investors woke up to the shocking news that their funds had disappeared. Around 13,556.36 ETH, which was worth $60 million at the time, was drained from AnubisDAO’s liquidity pool.
The project, AnubisDAO, was promoted as a fork of OlympusDAO — a cryptocurrency backed by the assets in its treasury. It was based on Anubis, an Egyptian god of death with a dog’s head. This theme is also similar to other dog-themed meme coins.
Although Anubis identified itself as a decentralized autonomous organization (DAO), the details of the project were unclear. And even though it did not have an official website, investors still pumped in $60 million worth of ETH into it.
IOTA Introduces New Smart Contracts To Circumvent The Network Flaws
The use of smart contracts remains the key turnaround factor with the cryptocurrency space. Smart contracts brought about the decentralization of digital assets and eliminated third-party interferences in crypto transactions.
Distributed ledger and open-source cryptocurrency, IOTA, has just launched a new smart contract beta. This latest move offers its users a platform for getting high-speed and zero-fee transactions.
IOTA emerged within the 2017 ICO boom. The digital asset came to support the Internet of Things that harmonizes physical items into the internet and digital world. Nevertheless, the cryptocurrency floated to irrelevance as interest in it died down in 2018.
Can Cryptocurrency Be Converted Into Cash? Read On To Find Out
Cryptocurrency is fast emerging as a smart investment option across all strata of society, however there are certain practical issues with it as it cannot be exactly used for certain daily transactions like paying restaurant and provisions bills.
So the question arises as to whether cryptocurrency can be converted into cash. Now that’s an interesting question to ask isn’t it? Cryptocurrency is an extremely volatile virtual currency whose value fluctuates a lot. However it is quite easy to convert it into cash.
But before doing so, one needs to know certain things so that the actual value of money is not lost once cryptocurrency gets converted into cash. The possibility of losing the value of one’s money is quite high due to the volatility of the digital tokens.
Though it is possible to convert cryptocurrency into cash, the most important thing to remember is that since cryptocurrency is not legal tender in the country, one needs to pay taxes on profits.