Hackers steal $41m worth of bitcoin from Binance cryptocurrency exchange

[Bitcoin]

Hackers steal $41m worth of bitcoin from Binance cryptocurrency exchange

It's downright mysterious! Plus, there's no basis for a bitcoin's value and it's completely unregulated. No one knows who he or she really is. 13 All the transactions are anonymous, which is really shady. Bitcoin's creator goes by the alias Satoshi Nakamoto. That adds up to a lot of unnecessary risk--and we don't want you to take unnecessary risks with your retirement or your future. Bitcoin's other big red flag?

Its value had ups and downs in those early years, but continued to trend up until it broke the $1,000 mark in November of 2013. By mid-December its value was almost $20,000! Bitcoin's value reached $5,000 in October that year, then doubled to $10,000 in November. That's when things started to get crazy. The bubble finally burst,  btc and the value dropped to about $3,500 by November 2018. In July 2010, a bitcoin was only worth eight cents. It dropped off before rising to $1,000 again in early 2017.

Hackers stole bitcoin worth $41 million from Binance, one of the world's largest cryptocurrency exchanges, the company said on Wednesday, the latest in a string of thefts from cryptocurrency exchanges around the world.

Both bitcoin mining (don't worry--we'll explain that later) and trading are handled anonymously, making the cryptocurrency scene prime for cybercrimes, like phishing and blackmail schemes. They pay electronically using a computer or mobile app, sort of like sending money via PayPal. 5 All that, combined with the fact Bitcoin is not regulated by any bank or tied to any country, makes for a scary combination. Bitcoin users exchange their digital "coins" for goods and services or trade them for cash.

The 7,000 bitcoin were withdrawn by hackers using a variety of techniques, "including phishing, viruses and other attacks",  Binance according to a post on Binance's website by chief executive officer Zhao Changpeng.

The lack of a consistent pricing tool is one of the major reasons we see such huge swings in a bitcoin's worth. This is another huge risk that comes with the cryptocurrency world. Without a governing authority--like we have for nationally based currencies--or  BNB the correlation to earnings--like we have for stock prices--it's really up to buyers. Bitcoin is worth whatever buyers are willing to pay.

Now, if you're investing at least 15% of your income for retirement, and you're on track to meet your retirement goal ,  Binance there's room to talk about investing some of your money in other ways. After you talk to your investing professional about your mutual fund investments and get that all squared away, ask them about the best way to invest in your financial future. That way your retirement is secure, and you might choose to participate in other new ways to invest.

You can deposit Canadian dollars via Interac e-Transfer for  BNB free and Purchase MATIC. Fiat withdrawals cost $25. NDAX has a good reputation for being a secure exchange, plus it has a beginner-friendly interface and good customer service reviews. You can buy Polygon on NDAX cheaply, since it has a fixed 0.2% buy and sell fee. You can sign up with NDAX here. NDAX is a Canadian crypto exchange that makes it simple to buy MATIC.

It's also really important to evaluate a wallet's customer support, as you might have some important questions or even issues that will need to be resolved right away. According to our Binance vs MetaMask comparison research & gathered data, the better customer support is presented by Binance, which offers fast & sincere help when their customers need it.

DUBAI (Reuters) - The world's largest cryptocurrency exchange Binance has been granted a licence to conduct some operations in Dubai, the company said on Wednesday, from where it plans to carry out regional business.

Businesses are jumping on the Bitcoin bandwagon too, with more than one-third of small- and medium-sized businesses accepting it as payment. 2 And it's gaining popularity with bigger businesses like AT&T, Microsoft and Overstock. Even Wikipedia takes donations in bitcoin. Even so, investors have been looking for ways to make money on Bitcoin since it was created in 2009.

Financial regulators across the world have targeted Binance, with some banning the platform from certain activities and others warning consumers that it was not licensed to operate in their jurisdictions.

Bitcoin, and digital currencies like it, are best known for two things: They're really hard to understand and their value is all over the map. Just last week, the value of the cryptocurrency market dropped by $150 billion in 24 hours!

Simply use your chosen crypto exchange and hit the "trade" button. You can trade Polygon in Canada easily. If you would like to trade Polygon for a wider range of altcoins, we recommend using either Binance or KuCoin as they have hundreds of cryptocurrencies available. You will be able to trade MATIC with any of the trading pairs listed.

Polygon (MATIC) is a layer 2 solution for  cryptocurrency Ethereum. Anybody using Polygon can take advantage of the cheaper gas fees for making transactions. With gas fees running into the hundreds of dollars for a single transaction, a solution is needed to help Ethereum's scalability issues. Polygon is a side-chain that is compatible with Ethereum. It is meant to process Ethereum transactions off the main Ethereum network to help ease congestion.

Source: Hackers steal $41m worth of bitcoin from Binance cryptocurrency exchange

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