Cryptocurrency Q&A
Who backs BTC?
Who backs BTC?
Valentina
Fri Oct 11 2024
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7 answers
1926
I'm wondering who supports or backs Bitcoin, as in, who are the major investors, institutions, or entities that have a stake in BTC and contribute to its stability and growth?
7 answers
Nicolo
Sun Oct 13 2024
Gold, on the other hand, has traditionally been viewed as a safe haven asset due to its scarcity and durability. However, like Bitcoin, gold's value is not backed by any external entity but rather by market demand and confidence.
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Nicola
Sun Oct 13 2024
Bitcoin, the leading cryptocurrency, operates independently without being supported by any tangible asset. Its value stems from inherent characteristics that align with the principles of sound money, making it a desirable investment option for many.
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BonsaiGrace
Sat Oct 12 2024
In addition to spot trading, BTCC also provides futures trading, enabling traders to speculate on the future price of cryptocurrencies. This service offers the potential for higher profits but also carries increased risks.
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TeaCeremony
Sat Oct 12 2024
Furthermore, BTCC offers a wallet service, allowing users to securely store their cryptocurrencies offline or online. This feature is crucial for protecting users' assets from theft or loss.
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Martino
Sat Oct 12 2024
Fiat currencies, the most commonly used form of money today, are also not backed by physical assets such as gold or silver. Instead, their value is derived from the trust placed in the issuing government and the economy it represents.
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