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After all, retail investing apps have already been around for years. Its actions may lead to positive change Even with the battle for GameStop far from over, Netflix has already hired a writer for the film adaptation. To lawmakers and citizens alike, the GameStop short squeeze has illuminated some dark corners of the U.

Per Rep. They may not come at all. The stock market is just their casino of choice. Meme stocks have no intrinsic value propping them up, so anyone who buys shares of GME or AMC during surges will end up losing money when the stock deflates. Yes, some medals will be awarded, but your portfolio is much more likely to get cut down by shrapnel between the trenches. Revel in the madness of it all, but earn your tendies elsewhere.

Read more:. But every trade is a gamble. The consequences are devastating. I hope it is the last. Now I've got no money for the next two weeks… Already have so many blocks in place but they don't work with crypto casinos. According to user data from crypto marketplace Paxful , around 32 per cent of traders are years old, while 33 per cent are A survey into Young People and Gambling also found that 37 per cent of year-olds in England and Scotland had gambled in the last year, while 1.

Research affirms this: over half of Brits aged have no savings at all. But this is a false promise. Suicide is also three times as likely through gambling as any other addiction. Marini runs the six-week course for people addicted to crypto trading, who are treated using one-to-one and group therapy and educational lectures within the wider gambling group.

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Tether also issues tokens pegged to the euro, the offshore Chinese yuan, and gold, none with more than a small fraction of the market cap of its U. The peg to a traditional currency, often backed by collateral reserves made up entirely or mostly of the pegged currency, is meant to ensure stablecoins aren't subject to the same price volatility as more speculative cryptocurrencies like Bitcoin.

Tether updates a breakdown of its reserves holdings daily on its website. As of the same date, Tether reported holding A stable value promotes the use of stablecoins as a medium of exchange like conventional money. As noted above, in practical terms, stablecoins have made it easier to speculate in cryptocurrency markets.

Their rapid growth in popularity is also the result of stablecoins' use as collateral by decentralized finance DeFi lending and staking protocols. By then, the company was already dealing with critics questioning the adequacy of its reserves and, as subsequent investigations would show, having trouble accessing banking services. In January , Tether dismissed an accounting firm it had hired to perform an audit, citing "the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether.

In October , the U. How Is Tether Useful? Tether helps investors move funds between cryptocurrency markets and the traditional financial system, minimizing volatility as a result of its 1-for-1 peg to the U. Tether tokens can be bought and sold on cryptocurrency exchanges including Binance, CoinSpot, Bitfinex, and Kraken. For those asking how many cryptocurrencies or crypto coins are there, the answer is indefinite. However, a safe bet would be more or less 5, TradingView, However, hour numbers show different rankings.

CoinMarketCap, Moreover, the number of daily transactions also shows a different leader. Coin Metrics, Meanwhile, when it comes to cryptocurrency prices, rankings are led by the Bitcoin family. The figures for this popular cryptocurrency have increased greatly since its inception in late As of March , there are an estimated CNBC, Knoema, Furthermore, the number of daily Bitcoin transactions averages between , to , For instance, in the month of March , the highest number of transactions recorded was 34,, while the lowest was , The Balance, In , the Bitcoin network consumed around gigawatts of energy per second.

The Balance, Furthermore, it takes 10 minutes to mine a Bitcoin. Regardless of how huge a mining network is and how much power miners consume, it will always take them 10 minutes. Coindesk, Cryptocurrency Users Statistics Cryptocurrency adoption has progressed in the past several years, but usage varies from economy to economy. As of Q3 , there are an estimated million identity-verified cryptocurrency users worldwide.

Cambridge Judge Business School, Surprisingly, even though cryptocurrencies such as Bitcoin seem to be more popular in the US, Nigeria sets the record for the most number of people who indicated that they used or owned cryptocurrencies at Vietnam Blockchain Capital, Source: Statista Blockchain and Cryptocurrency Wallets Usage Furthermore, based on the latest number of blockchain wallet users data, there are about Deloitte, As of December , the 10 largest cryptocurrency wallet apps generated a total of 5,, downloads worldwide.

Airnow, Crypto Crime Statistics Cryptocurrency opponents often claim that crypto is widely used in crimes such as money laundering and other financial crimes, among graver offenses. However, could cryptocurrency be really that nefarious? These crypto crime statistics could help us understand better. Cryptojacking is named in the latest cybercrime trends as a leading cyber threat, almost the same level as the proliferation of ransomware.

Satis Group, Moreover, massive exit scams dominated cryptocurrency crime statistics in the last few years. CipherTrace, Hope for Cryptocurrencies Interestingly, even though cryptocurrency is vulnerable to be used in crimes such as money laundering, only 1.

CoinTelegraph, As such, less than 0. This is attributed to the fact that the number of legitimate cryptocurrencies continues to rise. Given these cryptocurrency statistics and facts, the answer to this question seems clear: cryptocurrency is far from plateauing. It is, in fact, on its way toward continuous growth. Although cybercrimes, including cryptojacking, fraud, and money laundering threaten to mar its reputation, developments in technology and regulation help keep it afloat. For one, advancements in blockchain technology will continue to make it easier to track cryptocurrency transactions.

This will result in a reduced likelihood of cryptocurrencies being used illegally or stolen. Furthermore, tighter regulations, including but not limited to cryptocurrency taxation , may discourage illicit transactions. Nevertheless, cryptocurrencies and their growth are not stopping anytime soon. As more huge personalities take an interest in them and more businesses accept cryptocurrencies as payment for products and services, more consumers may also adopt them in the near future.

As such, it will be wise to watch cryptocurrency and fintech statistics and trends to see which path this virtual currency will eventually take. References: Airnow. Average number of daily active users DAU of selected apps that allow for cryptocurrency storage in the United States from January to January Retrieved from Statista Airnow. Number of downloads of the 10 largest apps that allow for cryptocurrency storage worldwide from September to January Retrieved from Statista Blandin, A.

JBS Blockchain. Retrieved from Blockchain. Total Circulating Bitcoin. Retrieved from Medium Bradbury, D.

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