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BY ๐๐๐๐๐๐ฅ๐ญ๐ณ ๐๐๐๐ก๐ก๐๐ [H17]
Most people buy Bitcoin via exchanges, such as Coinbase. Exchanges allow you to buy, sell and hold cryptocurrency, and setting up an account is similar to opening a brokerage accountโyouโll need to verify your identity and provide some kind of funding source, such as a bank account or debit card. Major exchanges include Coinbase, Kraken, and Gemini. You can also buy Bitcoin at a broker like Robinhood. Regardless of where you buy your Bitcoin, youโll need a digital wallet in which to store it. This might be whatโs called a hot wallet or a cold wallet. A hot wallet (also called an online wallet) is stored by an exchange or a provider in the cloud. Providers of online wallets include Exodus, Electrum and Mycelium. A cold wallet (or mobile wallet) is an offline device used to store Bitcoin and is not connected to the Internet. Some mobile wallet options include Trezor and Ledger.
โTo the extent it is used I fear itโs often for illicit finance. Itโs an extremely inefficient way of conducting transactions, and the amount of energy thatโs consumed in processing those transactions is staggering,โ the former Fed chairwoman said. Yellenโs comments have been cited as a reason for bitcoinโs recent losses. However, Yellenโs assessment of bitcoin as a inefficient medium of exchange is an important point and one that has already been raised in the past by bitcoin bulls. Using a volatile asset in exchange for goods and services makes little sense if the asset can tumble 10% in a day, or surge 80% over the course of a two months as bitcoin has done in 2021, critics argue. To put a finer point on it, over the past 12 months bitcoin has registered 8 corrections, defined as a decline from a recent peak of at least 10% but not more than 20%, and two bear markets, which are defined as falls of 20% or more, according to Dow Jones Market Data.
๐๐๐๐๐๐ฅ๐ญ๐ณ ๐๐๐๐ก๐ก๐๐ H17 from sg