Galípolo questions the use of cryptocurrencies in Brazil!
The president of the Central Bank (BC), Gabriel Galípolo, questioned, this Thursday (6), the way cryptocurrencies are used in Brazil. According to Galípolo, the growth in the use of cryptocurrencies in recent years caught the attention of the BC, raising questions about the motivations for this adoption. “In Brazil we have seen a great growth in the use of crypto in recent years. This raised questions about the motivation.
In the beginning, we saw that 90% were stablecoins”, said the president of the BC at the Chapultepec conference, in Mexico. Stablecoins are cryptocurrencies that are backed by stable assets, such as the dollar or gold, reducing the volatility typical of other cryptocurrencies. They are widely used for international transactions and as a store of value.
According to Galípolo, the use of crypto was initially interpreted by the BC as a more accessible way to maintain reserves in dollars. However, the monetary authority's view changed after studies.
“We assumed that this was an easier way to have an account in dollars. But then we realized that this is much more commonly used as a form of payment and most of it was to buy things abroad,” explained Galípolo. The president of the Central Bank also emphasized that, although this is not a direct accusation, the use of cryptos can create an “opaque” environment for financial oversight and the fight against money laundering.
“And generally, and this is the bad part, people use these currencies because they maintain an opaque view of taxation and money laundering. This is not an accusation. But when you see what people are buying, there is always this doubt about the motivation,” he concluded.
Don't use this! You run a serious risk of losing everything, especially if you don't know how to use it. The app lends you 5 or 10x more. If you lose it, you get everything, even your underwear.
RayaneLindemann
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Can anyone tell me what this 10x, 5x that appears next to the currency acronym is?
Here's a beginner's guide to Simple Earn on Binance:
What is Simple Earn? Simple Earn is a feature on Binance that allows users to earn interest on their cryptocurrency holdings. It's a low-risk way to generate passive income.
Benefits of Simple Earn 1. *Low risk*: Simple Earn is a low-risk investment option, as it's backed by Binance's robust security measures. 2. *Easy to use*: Simple Earn is user-friendly, making it accessible to beginners. 3. *Flexibility*: You can deposit and withdraw your funds at any time. 4. *Competitive interest rates*: Simple Earn offers competitive interest rates compared to traditional savings accounts.
How to Use Simple Earn *Step 1: Log in to Your Binance Account* Go to the Binance website or mobile app and log in to your account.
*Step 2: Navigate to Simple Earn* Click on the "Earn" tab and select "Simple Earn" from the dropdown menu.
*Step 3: Choose Your Asset* Select the cryptocurrency you want to deposit into Simple Earn.
*Step 4: Deposit Funds* Deposit the desired amount of cryptocurrency into Simple Earn.
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Tips and Reminders 1. *Read the terms and conditions*: Before using Simple Earn, make sure you understand the terms and conditions. 2. *Understand the interest rates*: Interest rates may vary depending on market conditions. 3. *Keep your account secure*: Make sure your Binance account is secure by enabling two-factor authentication (2FA) and using a strong password.
Conclusion Simple Earn on Binance is a great way for beginners to earn passive income on their cryptocurrency holdings. With its low-risk and user-friendly features, it's an excellent option for those new to cryptocurrency investing.
Like me, many are new here and don't know the features of #Binance e and there's a very interesting one.
It's called Simple Earn/Earn, it's a kind of savings account, you register and invest there and the #magia happens, multiplies.
I signed up for the feature and I only see growth every minute, it updates in real time. A tip is that each #cripto has a percentage of gain. The longer you leave it, the higher the $$$
Anyway, I'm learning here and starting to invest, just like many of you. All knowledge is valuable.
A big thanks to the people who help in the process.
I'm noticing this, while there are others that only update from unit to unit and others in one, two or less decimal places. But it's always upwards. Thanks a lot
Nenobusch
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earn is a crypto savings account, it does not interfere with the value of the crypto, it earns income every day, the blocked one yields more, and there are blocking days, the flexible one can withdraw whenever he wants