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5 scary facts about cryptocurrency

authorBanxe Team
time 2 min read date 26.10.2022
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Halloween this year will be especially scary with all the latest updates! Brrr... Do you feel the shivers?

 

To make it even scarier for you, here are some Scary Crypto facts that anyone dealing with Crypto shall know.

 

  • Hackers have already stolen nearly $2 billion worth of cryptocurrency in 2022, which is still not over.
  • Rising inflation usually means falling Crypto prices. After each IFRS meeting, when the inflation rates are higher than expected, you may observe a substantial red candle on the whole market.
  • If Bitcoin fails, it has no safety net. It does not rely on a governing body like the U.S. dollar. That prevents it from being subjected to inflation and transfer fees for international purchases.
  • A single person has a significant impact on the whole cryptocurrency market. And we all know who it is. If Elon Musk wants to pump or dump the price of any coin, he can do it quickly.
  • Taxes on crypto gains. Before cryptocurrency global adoption, there was some magical free-of-tax window for those making profits in Crypto. Well, crypto earnings are taxed even harder than other businesses in some countries.

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Share your scary Crypto Facts in the comments.

 

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