Questions and Answers about
Crypto
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in TechnologyIn the crypto world, what are stablecoins?
Answer: Stablecoins are a type of digital currency gaining prominence in recent years, with companies like PayPal diving into the mix as of August 7, 2023. Stablecoins are designed to minimize volatility associated with cryptocurrencies like Bitcoin. They achieve this stability by anchoring themselves to a “stable” reserve asset, such as the US dollar or…
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in TechnologyWho is the billionaire tycoon behind Binance, the world’s largest cryptocurrency exchange by trading volume?
Answer: Changpeng Zhao is the co-founder and CEO of Binance, which he launched in 2017 after raising $15 million through an initial coin offering. Binance offers various services to crypto enthusiasts, such as trading, stakes, lending, mining, and launching new tokens. In March 2023. the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance…
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in TechnologyWhat are Ordinals?
Answer: Ordinals are the latest type of NFTs that are based on Bitcoin and stored directly on the blockchain. They were introduced in January 2023 after an upgrade enabled more data storage capacity for each satoshi (the smallest unit of bitcoin). Unlike other NFTs that rely on external platforms, Ordinals cannot be altered or deleted…
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in TechnologyWhat’s OpenSea?
Answer: OpenSea is an eBay-like site where people can browse millions of NFTs (non-fungible tokens), buy the images, and put their own up for sale. Since 2021 OpenSea has become the largest NFT marketplace worldwide. The company has raised more than $400 million from investors, at a value of $13.3 billion
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in PlacesWhich country is planning a city with no property, income, or municipal taxes and zero carbon dioxide emissions?
Answer: El Salvador President Nayib Bukele announced Nov. 20, 2021, that his government would build an oceanside “Bitcoin City” at the base of the Conchagua volcano – with no property, income, or municipal taxes and zero carbon dioxide emissions. More answers inside!
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in BusinessBitcoin is the biggest cryptocurrency by market value. What is the second?
Answer: Ether, the second-biggest cryptocurrency by market value, hit $4,842 on Tuesday, Nov. 9, 2021, while Bitcoin rose as high as $68,564. Since June, both have more than doubled and added nearly 70% against the dollar since the start of Oct. 2021.
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in BusinessWhat’s China’s stand on cryptocurrency in 2021?
On Friday, Sept. 24, 2021, the Chinese government vowed to root out “illegal” cryptocurrency activities. Beijing’s new blanket ban on all cryptocurrency trading and mining is the broadest yet by a major economy. China is, however, developing an official digital currency of its own.
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in BusinessWhich of these crypto coins does Paypal’s Checkout with Crypto allow?
Dogecoin is not acceptable on PayPal’s Checkout with Crypto, Bitcoin, Litecoin, Ethereum, and Bitcoin Cash are._x000D_
