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You might have noticed that Bitcoin is currently experiencing a sudden dip. No need to panic! What if this is your moment to buy and stack up against your Crypto assets? Be sure not to be thrown off course by the turbulence, it is part of the ride. Like Warren Buffet says “The best chance to deploy capital is when things are going down” In layman terms, whenever everyone is selling BUY!
Crouching China, Hidden Bitcoin
Chinese authorities have banned cryptocurrency trading since 2019, a move Beijing claims is intended to prevent money laundering. Even so, people can still buy and sell it online. Payment firms and banks have only been banned from processing cryptocurrency transactions. A trio of state-backed organizations announced on May 18 that consumers would not be protected from losing money from crypto trading. As a result, China has suspended operations of major cryptocurrency mining companies, which led to Bitcoin, Dogecoin, Ethereum, and Binance Coin experiencing losses in value.
El Saviour of Crypto
El Salvador is the first country in the world to adopt Bitcoin as legal tender. The Salvadoran government may now accept bitcoin along with the US dollar as a form of payment. President Nayib Bukele stated at a bitcoin conference that citizens working abroad should be able to send money back home more easily with bitcoins. The announcement spurred bitcoin's price slightly higher, despite some of the dips that the currency has been facing.
Lord of the Coins
The first and most popular cryptocurrency, Bitcoin, was launched in 2009 and remains the market leader to this day. Its market capitalization, effectively its total worth is said to be over $1.017bn; while Ethereum comes in second, with a market value of around $302bn.
Cheaper by the Dozen
You want to take advantage of this dip and grow your reserves. This gives you leverage, more Bitcoin simply gives you the upper hand. It’s an alternative way of buying while the price is going through a dip to expand your crypto portfolio. As a wise man once said, "Make hay while the sun shines". Regardless of your decision, you should always seek sound advice and do your due diligence.
Despite the upheaval, some major players that have shown massive trust in Bitcoin include software firm, MicroStrategy which currently owns over $3 Billion worth of Bitcoin. Over $400 million was borrowed by MicroStrategy Inc. to buy more Bitcoin while writing down the value of its existing holdings. It's the first-ever junk bond deal used to finance cryptocurrency purchases.
Margin Call - Tax-Free Virtual Assets
The fee structure with traditional currencies is based on the amount of the transaction or the type of tax charged. However, with bitcoin, the fees aren't based on the amount of the transaction. The fees associated with BTC transactions are very low, and the transactions are not subject to any taxes. Consequently, people can save a lot of money for the future by doing this.
Through Bitcoin, users can remove the ‘red tape’ by cutting out banks and taking control of their money. Players at Crypto Thrills, like at other Bitcoin casinos, can maintain their anonymity when playing at the casino. Because Bitcoin works on a distribution system, no financial institution, banking or otherwise, has authority over any transaction. Bitcoin has been adopted as a payment method by most online casinos for this very reason.
Rogue Trader - Benefits of Gambling in Crypto
Despite the fact that you might think this is a nightmare, you have the advantage of getting more for your mBTC at a lower price. In other words, you get more for your money. What this means in terms of gaming time. Now you have more reel time available to you. Rest assured, we have also incorporated xBTC so you can play for up to ten times longer on your device. We just want to say "Play all your favorite games for LESS". We are just looking out for your interests while you focus on growing your Crypto balance.
Too Big to Fail
As we have seen, Bitcoin always bounces back. In May, Elon Musk suspended Bitcoin from Tesla's payment options over environmental concerns related to so-called computational "mining." A few weeks later we saw it growing from strength to strength. There is no doubt that Tesla’s suspension had an impact on the dip that Bitcoin took.
Bitcoin, on the other hand, has weathered many storms and always seems to thrive. To prove this point, Mark Hipperson, founder, and CEO of the cryptocurrency platform Ziglu, explains the benefits of digital currency becoming mainstream. We confidently predict that one day soon, cryptocurrency will be accepted anywhere that accepts traditional currencies, as more and more big brands adopt it."
In the face of Bitcoin's popularity, you have two options: dip your fingers into the cookie jar while you can or watch others enjoy the benefits of Bitcoin's popularity.
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In no way does this information constitute financial, trading, or investment advice provided. To obtain financial advice, please contact a qualified financial advisor.