Thailand’s central bank has ordered all banks and other financial institutions to cease all dealings with digital currencies, citing concerns over uncontrolled trading.

According to the central bank, virtual currencies are not legal cash in Thailand, and they can be used for money laundering and terrorism financing.

Finance Minister Apisak Tantivorawong, on the other hand, stated that regulators could not prevent the use of cryptocurrencies in Thailand.“The government will not ban cryptocurrency trading.

A regulatory framework to govern digital currencies will become clearer within a month,” the Finance Minister said, as quoted by the Bangkok Post.“After a recent discussion, related agencies agreed that regulators cannot stop the use of virtual currencies but will have to regulate and appropriately control them,” he added.Influence of Cryptocurrency on the World EconomyCryptocurrencies have an impact on humanity’s economic, political, cultural, and social lives.

There is currently a possibility of unscrupulous individuals surfacing on the market due to the lack of rules and warranties to protect bitcoin customers, which is one of the reasons to push some nations into having a crackdown on some coins with strict laws, regulations, and bans.Meme Coins, NFTs, and Exchange Tokens as Part of Thailand Crypto BanThailand is the most recent country to enforce cryptocurrency trading restrictions.

The Securities and Exchange Commission (SEC) of the Southeast Asian nation has banned meme currency like Dogecoin.

The cryptocurrency market is in free fall with the prices dropping heavily by 25% last week.

Though there are various reasons for this dump, the most recent reason is due to concerns about Chinese making moves to crackdown on crypto mining and trading.

After trading above $3,000 on Tuesday, Ethereum fell below $2,000 per unit before regaining some of its lost ground.

Ether was trading at approximately $2,600 on Wednesday afternoon, down about 22%.

Dogecoin, the meme-turned-cryptocurrency, has lost more than 24% of its value.Three government-backed organizations, including the China Banking Association, issued an alert that many interpreted as implying that the country will control cryptocurrencies more strictly.They cautioned that digital currencies are not “absolute” and “cannot be used as market currency.” According to the joint statement, people’s property and the “natural order of economy and finance” were being jeopardized by the “speculation practices” that have engulfed virtual currencies, which have come amid surging and falling prices.Bitcoin was already on the decline earlier this month after Tesla (TSLA) CEO Elon Musk expressed concern about the cryptocurrency’s environmental effect.

However, a recent statement from a Chinese financial and banking regulators group seems to have stunned cryptocurrency markets even more.On Tuesday, the agencies said that financial institutions and payment companies should not engage in cryptocurrency transactions or offer cryptocurrency-related services to their customers.“Prices of cryptocurrency have skyrocketed and plummeted recently, and speculative trading has bounced back.

Enterprise Blockchain Is A Relatively New Concept That Has Been Adopted By Numerous Business Enterprises Over The Past Few Years.

It Has Impacted The Way Business Settlements And Processes Are Being Handled Among Business Parties.

It Is A Form Of Blockchain That Many Businesses Use To Track And Conduct Their Business Processes, Some Of Which Include Settling All Their Payments And Tracking Supply Chain Goods.

This Form Of Blockchain Is Preferred By Many Businesses Worldwide.

That Said, Here Are A Few Facts About This And How These Facts Impact The Environment.

They Are: Private Enterprise blockchain is a form of Blockchain in which only one party has access to change and manipulate financial records and transactions.

If you’re an active crypto trader, you must have thought, at one point or the other, about the security of your assets.

How do you know that one day, the whole system will not become flawed?

One of the ways to ensure the security of your assets is by the concept of proof of work.

Proof of work is a mechanism that ensures that participants in a blockchain network perform transactions and reach agreements while ensuring the security of the network.

Proof of work is employed by many cryptocurrencies but our primary focus is on its functions in the Bitcoin network.The concept behind proof of workIt may surprise you to know that the primary purpose for proof of work was not for security.

As you know, Bitcoin and other cryptocurrencies all depend on the blockchain network.

However, if you’re just a bitcoin enthusiast or a passive investor, you probably heard about this devaluation from the internet’s trends or news.

There’s no better reason than because of the popularity of this currency in the crypto market.On Wednesday, Bitcoin sold for a little above $30,000, which is the lowest selling price since the first month of the year.

Since this currency is the most popular, stable and dominant in the crypto market, the whole market, including the altcoins came crumbling down.

Another influential tweet related to Musk was the announcement of the acceptance of Bitcoin as a form of payment.

That single tweet affected the Bitcoin market value heavily in a positive way.However, Elon’s s company, Tesla, took a U-turn on the earlier acceptance of Bitcoin.

That was where the fall of Bitcoin started.

With The Vast Array Of Trading Platforms Available, Each With Its Pros And Cons, It Becomes Difficult To Identify The Best Fit For You.

Below Is A List Of The Best Cryptocurrency Exchanges For Active Crypto Traders And Long-Term Cryptocurrency Investors In 2021.

The Platform Has Facilitated The Execution Of More Than 20 Million Cryptocurrency Exchanges As Of Today.

Binance This Is Currently The World’s Largest Trading Platform.

Binance Boasts One Of The Lowest Transaction Fees And Prices In The Crypto Industry.

Using Their Digital Currency, BNB Will See You Get A 50% Discount On Withdrawals.

As a newbie in the cryptocurrency space, it’s normal for you to get confused of the difference between coins and tokens.

In most cases, you’ll see these two terms often used interchangeably in cryptocurrency platforms and blogs.

Asides from being a currency, a crypto coin is a means of exchange as well as a means of saving passively.

Some features common to most crypto coins include;They are primarily decentralized entitiesThey depend on a blockchainThey follow the cryptocurrency graph system.You can use crypto coins in many ways.

In most cases, you can even liken a coin to the regular money you have, as you can use it to pay for items.

Some ways to use crypto coins include;Money TransfereCommerceSavingsToken building (Ethereum)Making network decisions (Dash)What is a Crypto Token?The primary difference between crypto coins and tokens is the blockchain difference.

In Philanthropy, Blockchain Opens Up New Possibilities By Converting Aid Into Digital Assets And Establishing Faith In Charitable Organizations.

Donors Can Now Monitor The Effectiveness Of Their Donations, And Charities Can Use Cryptocurrency Tokens To Incentivize Contributions.

When Considering Whether Or Not To Donate Money To Charitable Causes, Many People Wonder Whether Their Donation Would Make A Difference.

By Participating In Shady Schemes To Extract More Money, Several Non-Profit Organizations Have Shattered People’s Faith In Philanthropy And Caused Them To Doubt The Legitimacy Of Charity Initiatives.

In Today’s Philanthropic World, Transparency Is One Of The Most Controversial Subjects.

Blockchain Technology Is A Complex Framework That Stores Data In A Growing Chain Of Cryptographically Linked Blocks.

The Steady Rise Of Bitcoin And Other Cryptocurrencies Isn’t As Shocking As The First Days It Made Headlines For Its Unbridled Jump.

Crypto’s New Frontier Is In The NFTs Or “Non-Fungible Tokens”.

NFTs Rolled Into New Milestones With The Sale Of A Digital Art By An Artist Known As Beeple Whose Real Name Is Mike Winklemann For An Equivalent Of $69.3 Million.

The Most Interesting Thing About This Is The Fact That Non-Fungible Tokens Are Powered Using Blockchain.

The New Owner Of The “Everydays — The First 5000 Days” Piece Only Recognized By A Pseudonym Metakovan Bought It Using Cryptocurrency.

He Has Only Been Collecting Art Since His Fund’s Metapurse Inception In 2016.

Elon is at it again, and this time it’s not great news for the Bitcoin market.

Elon Musk took yet another jab at Bitcoin when he tweeted on Friday.

In turn, this value depreciation will affect the trade predictions of many Bitcoin and cryptocurrency traders.If you’re a trader in the crypto market, you may have had nothing but love for Elon Musk at the beginning of the year.

Soon enough, he became probably the most prominent individual with so much influence on the crypto market.

These two announcements increased the value of Bitcoin excellently and contributed heavily to the all-time high of Bitcoin in April.

On one side, we have the traders and investors who were grateful for the value pump.

You Watch Many Games On TV And Have A Favorite Team That You Root For.

But You’re Yet To Play Fantasy Basketball.

The NBA Is Full Of Exciting Talent, From Veteran Superstars Such As Kevin Durant And LeBron James To Reigning MVP Giannis Antetokounmpo And Youngsters Such As Luka Doncic.

Creating Or Joining A Fantasy Basketball League Although The 2020/2021 NBA Season Is Already On, You Can Join Or Even Create A Fanspel Fantasy Basketball League Any Time.

Memorable Moments As A Fantasy Manager, There Are Just Some Of The Moments You’ll Live To Remember.

It Could Be Russel Westbrook’s Triple-Double Or Damian Lillard Or James Harden’s Epic Scoring Night.

If You Are Keeping Up With The Digital Innovations Worldwide, You Would Definitely Have Heard Of Bitcoin, Lite Coin, Ethereum, And So On.

These Could Have Positive Or Negative Effects On An Economy, Depending On The Direction It Heads.Without Further Ado, This Article Would Highlight Essential Things To Know About Cryptocurrency, Including What It Is And What Factors Affect Its Value.

As We Mentioned Earlier, Cryptocurrencies Have Been A Significant Contributor To The World’s Economy.

However, They Differ From Standard Currencies Because You Can Also Send Digital Information Through Them.

It Also Offers You An Easy Way To Save, Invest, And Transact With Other Digital Currency Holders.

2.The Scarcity Of The Coin Unfortunately, There Are Various Popular Cryptocurrencies Such As Bitcoin That Are Only Selling A Certain Amount Of Coins.When A Cryptocurrency Has A Fixed Amount Of Coin Value They Want To Sell, This Creates A Big Gap Between Demand And Supply.Many People Want The Coin Due To Its Exclusivity, Which Makes The Currency Dramatically Appreciate.