Total number of cryptocurrencies

LONDON — Investors have lost billions of dollars to criminals targeting so-called "decentralized finance" platforms this year. DeFi has often been referred to as the "Wild West" of cryptocurrencies. Such services often promise users huge returns but lack any involvement from middlemen like banks. High-interest rate savings and lending products are a common sight in the space. But, as is to be expected with a young industry like crypto, DeFi platforms aren't regulated. It's something regulators have tried to come to grips with recently amid a spate of major hacks and scams.

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Content:

• Cryptocurrency buzz drives record investment scam losses
• 16% of Americans say they have ever invested in, traded or used cryptocurrency
• Demystifying Cryptocurrencies, Blockchain, and ICOs
• Why does Bitcoin need more energy than whole countries?
• How many cryptocurrencies are there in 2021?
• 10 Important Cryptocurrencies Other Than Bitcoin
• Cryptocurrency
• Keep up to date with Liquid

WATCH RELATED VIDEO: Top 15 Cryptocurrency by Market Capitalization - 2013/2021

Cryptocurrency buzz drives record investment scam losses

THE sheer scale of it is an eye-opener — India now has 15 homegrown cryptocurrency exchange platforms that enable trading and selling, with more than 1. At The United States and Russia rank a distant second and third, respectively. Going by the number of crypto owners in terms of population, India ranks fifth. If substantial profits fall within the realm of possibility, so are the chances of huge losses and fraud in cryptocurrency trading — and there is no regulatory authority the investor can turn to, for now.

The risk is entirely his or hers. A capital gains tax of 30 per cent, however, will be levied on the profits made. The teenager has been selling the coins, ordering goods from China and then making money out of selling these to friends back home.

I have put in a very little amount in the market and my profits have been higher than what I invested. It was the lure of fast money that attracted year-old Ishaan Jindal, a second-year student at Christ University, Bengaluru, too. Dogecoin, which started with barely a few cents, rose to per cent. Bitcoin, too, reached levels hitherto unheard of. Many of my friends had started investing and I took the plunge when I felt I could no longer sit on the fence. There was a time when I even indulged in day trading.

He had saved money given by family over the years, and instead of bank FDs, mutual funds or the stock market, this new market caught his fancy. After I lost some money initially, I have put a cap on my investments. Domestic crypto exchange WazirX, which has more than 90 lakh users, says crypto is the popular new alternative investment option for young adults, and they are not shying away.

Chandigarh-based investment consultant and realtor Vinay Sachdeva agrees. The latest guidelines from the RBI have fuelled interest. The seniors, however, are still wary of investing in this fluctuating market. It is a very volatile market which depends entirely on demand and supply, he points out.

Social media has also played a big role in creating a hype around blockchain technologies and cryptocurrencies. Then there are social community groups on WhatsApp, Facebook, Twitter and Telegram, offering tips on research and investment. Serial tech entrepreneur and angel investor Kunal Nandwani, who has been observing the market for the past five years, feels that getting celebrities to promote it gives credibility and legitimacy to this risky venture and youngsters feel it is cool to invest in it.

Since very little is yet known about this market, chances of people falling prey to illegal transactions and frauds is quite high, cautions Sarvjeet Singh Virk, co-founder, Finvasia. With pincodes and passwords, hardware wallets are believed to be the best way to protect your cryptocurrency. They should not invest what they cannot afford to lose. Gaming developer and content creator Krishan Kumar wants investors to have a long-term perspective and not just work towards getting quick returns.

Absence of government regulations: A Bill on cryptocurrency has already been submitted before the Union Cabinet, but a decision is yet to be taken in this regard. Virtual theft: Despite a highly safe alphanumeric number that changes with each transaction, cryptocurrencies run the risk of virtual theft from hackers.

High volatility: Cryptocurrencies are highly rewarding investments, but there can be extreme price changes due to the fluctuating demand and supply. The government is yet to bring in guidelines to regulate the industry. However, the industry has proposed some measures to stay protected:. Multiple-level authentication: Password-protected online wallets are susceptible to being easily hacked and prone to password theft.

Going in for three or more step authentication takes extensive time to breach and thus lesser enticement for hacking. When investing, do look at the intersection of other options in the market. Tracking transactions: Keep track of your wallet and crypto account. Be cautious: Do not blindly trust any stranger and share your alphanumeric wallet number with anyone. High Court stays Haryana govt's 75 per cent reservation rule in private sector.

Supreme Court extends for a week protection from arrest given to Simarjit Singh Bains. China suffered higher losses than reported, Australian newspaper says on Galwan Valley clash. Amritsar: Independents making all-out efforts to popularise themselves.

Time to understand significance of wetlands: Experts. Green issues not on priority list of parties. Affair, blackmail lead to Chandigarh murder: Police.

Day temperature dips in Chandigarh, rain likely for two days. Startup portal for young entrepreneurs in Chandigarh. Sector 37 Property Grab Case: Accused used to drug victim, beat him up, says witness. Chandigarh Golf Club elections to be held on March Heavy rain lashes Delhi; thunderstorms, strong winds likely.

Auto driver kills wife over suspicion of extramarital affair in Delhi. Gang-rape case: 3 booked by Delhi Police for spreading misinformation. To criminalise marital rape or not, Delhi High Court in a fix. Who will be BSP candidate from Nawanshahr? Poll violations reported in 25 days in Jalandhar. Constituency watch: Banga. Woman raped in car, dumped at Hisar; 8 booked. Ludhiana: Heart patient's car gets stuck in jam, dies. Three dead, fresh cases of Covid in Ludhiana district.

Denied ticket, BJP men reluctant to canvass for turncoats in Patiala. Punjabi University, Patiala, students protest rape, harassment of girl in Delhi. Punjabi University, Patiala, reduces Punjabi language course term to 1 year, receives flak. The young are driving the cryptocurrency growth, unmindful of the dangers. Secure your investment The government is yet to bring in guidelines to regulate the industry.

Digital currency basics Cryptocurrencies are virtual or digital tokens exchanged by private individuals or groups. More than 2, cryptocurrencies are said to be existing; Bitcoin is the first and pre-eminent cryptocurrency to be used widely.

Bitcoin was created by Satoshi Nakamoto, presumed pseudonym, in and released as open-source software in early The first Bitcoin transaction took place between him and an early adopter in January In , the first sale of an item using Bitcoins took place when a customer used 10, Bitcoins to buy two pizzas.

The years between and saw the Indian cryptocurrency market gaining a strong footing. Investing in crypto Download cryptocurrency exchange app and create an account by fulfilling KYC norms. Trading in cryptocurrency is the same as that in equities.

Like there, you link your bank account with any of the Indian cryptocurrency trading platforms. You can create more than one trading account. There is no minimum limit to investing since the cryptocurrency gets divisible as per the amount you want to invest. The cryptocurrency wallet linked to your bank will automatically do the conversion. Once you buy or sell the crypto currency of your choice, you can liquidate the coin into regular money through your wallet or account bank.

The profits are subject to capital gains tax. What do you think? Share your feedback. Most Read 1. Punjab Election. Don't Miss View All. Punjab February 2: World Wetlands Day. Subscribe to News. Top Stories. High Court stays Haryana govt's 75 per cent reservation rule in private sector The Bench headed by Justice Ajay Tewari also admitted the ma Supreme Court refuses to postpone GATE examination scheduled for February 5 Says interfering in the examination process just 48 hours be China suffered higher losses than reported, Australian newspaper says on Galwan Valley clash The Klaxon cites findings by unnamed researchers and mainlan Cities View All.

Amritsar: Independents making all-out efforts to popularise themselves 7 hours ago. Time to understand significance of wetlands: Experts 7 hours ago. Green issues not on priority list of parties 7 hours ago. Affair, blackmail lead to Chandigarh murder: Police 8 hours ago.

Day temperature dips in Chandigarh, rain likely for two days 7 hours ago. Startup portal for young entrepreneurs in Chandigarh 7 hours ago.

Sector 37 Property Grab Case: Accused used to drug victim, beat him up, says witness 7 hours ago. Chandigarh Golf Club elections to be held on March 20 7 hours ago. Heavy rain lashes Delhi; thunderstorms, strong winds likely 3 hours ago.

16% of Americans say they have ever invested in, traded or used cryptocurrency

Applied Network Science volume 4 , Article number: Cite this article. Metrics details. Cryptocurrencies as a new way of transferring assets and securing financial transactions have gained popularity in recent years. Transactions in cryptocurrencies are publicly available, hence, statistical studies on different aspects of these currencies are possible. However, previous statistical analysis on cryptocurrencies transactions have been very limited and mostly devoted to Bitcoin, with no comprehensive comparison between these currencies. In this study, we intend to compare the transaction graph of Bitcoin, Ethereum, Litecoin, Dash, and Z-Cash, with respect to the dynamics of their transaction graphs over time, and discuss their properties.

Demystifying Cryptocurrencies, Blockchain, and ICOs

We use cookies for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used. Make the most of Lead your own way in business and beyond with our unrivalled journalism. Siddharth Venkataramakrishnan. Delivered every weekday. Use of the phrase in the digital asset space dates back about four years, according to David Gerard , an author and journalist. Certainly, financial institutions have made efforts to appear more crypto-friendly over the past year. Payment companies such as Mastercard and Visa are among those that have run experiments with digital currencies. But critics say this does not necessarily translate into a healthy industry.

Why does Bitcoin need more energy than whole countries?

More cryptocurrency trading goes on in Nigeria than almost anywhere else in the world, reflecting a loss of faith in more traditional forms of investment, as Ijeoma Ndukwe reports. Tola Fadugbagbe recalls moving to Lagos from his small south-western town 10 years ago with dreams of brighter prospects. Instead, the year-old ended up in a series of odd jobs earning the minimum wage to survive - a typical story for many young Nigerians who are just trying to get by. It was not until that online adverts for Bitcoin piqued his interest and he began his cryptocurrency journey.

How many cryptocurrencies are there in 2021?

Site insurance of digital assets against exchange hacks. Higher fees than some other crypto exchanges. Where Gemini shines. Where Gemini falls short. What Gemini is best for.

10 Important Cryptocurrencies Other Than Bitcoin

On December 13, cryptocurrency Bitcoin reached 90 per cent of its maximum supply. A research by blockchain. The milestone comes almost 12 years after the first block, which consisted of 50 Bitcoins, was mined on January 9, For the uninitiated, Bitcoin is one of the few cryptocurrencies with limited supply. Bitcoin inventor Satoshi Nakamoto capped the number of Bitcoin at 21 million, to make the cryptocurrency scarce and control inflation that might arise from an unlimited supply. It is a process of adding new Bitcoins into circulation. After performing a set of transactions successfully, the miner is awarded a block of Bitcoins.

Cryptocurrency

A financial report this week celebrated the launch of yet another cryptocurrency, this time a new LGBTQ-focused coin that aims to "fight against homophobia. If it takes off, the maricoin, a name which, as Reuters reported , is derived from a Spanish language homophobic slur, may be the kind of niche token that will survive in a very competitive field. Its founders hope so. With fortunes having been made by many who have introduced coins of their own, there is certainly plenty of competition.

Keep up to date with Liquid

Bitcoin has not only been a trendsetter, ushering in a wave of cryptocurrencies built on a decentralized peer-to-peer network, but has also become the de facto standard for cryptocurrencies, inspiring an ever-growing legion of followers and spinoffs. Cryptocurrencies are almost always designed to be free from government manipulation and control—although, as they have grown more popular, this foundational aspect of the industry has come under fire. The cryptocurrencies modeled after Bitcoin are collectively called altcoins, and in some cases, shitcoins , and have often tried to present themselves as modified or improved versions of Bitcoin. First, though, a caveat: It is impossible for a list like this to be entirely comprehensive. One reason for this is the fact that there are more than 8, cryptocurrencies in existence as of January Though many of these cryptos have little to no following or trading volume, some enjoy immense popularity among dedicated communities of backers and investors.

By Matthew Sparkes. Bitcoin is a digital currency which operates free of any central control or the oversight of banks or governments. Instead it relies on peer-to-peer software and cryptography. A public ledger records all bitcoin transactions and copies are held on servers around the world. Anyone with a spare computer can set up one of these servers, known as a node. Consensus on who owns which coins is reached cryptographically across these nodes rather than relying on a central source of trust like a bank.

The final week of saw a third straight week of investment outflows from cryptocurrency funds, even as it capped a year of strong inflows into digital asset investment products, data from digital currency manager CoinShares showed. By comparison, the increase in inflows from to was per cent. Blockchain data provider Glassnode, in its latest research report, said across many on-chain measures, "there is a general lack of activity" in bitcoin despite a modestly bullish undertone in supply dynamics. It added that bitcoins continue to migrate to increasingly illiquid and dormant wallets, while investor profitability and cyclical metrics paint a more bearish picture.