Bitcoin moved wildly on March 16, fluctuating more than 7% back and forth in an hour. Recently, although the war in Ukraine still looms over the global market, Bitcoin is one step further to become a global asset. On March 3, LuganoSwitzerland, announced that it has worked with stablecoin issuer Tether to make bitcoin, Tether, and Lugano’s own LVGA Points token the city’s legal tender.
This is the second region after El Salvador to recognize cryptocurrencies as legal tender. According to the Lugano plan, the aforementioned cryptocurrencies can not only be used as tax payments, but can also be accepted by all local businesses. The city also established two funds to promote the use of cryptocurrencies in the city. A fund worth approximately $3.26 million is established to encourage the adoption of BTC, USDT and LVGA tokens in stores and businesses across the city. The second is an investment fund of up to $100 million dedicated to helping local blockchain startups and blockchain service providers.
Why Bitcoin?
Amid the crisis between Russia and Ukraine, Bitcoin is the star as many people seek safe haven in Bitcoin to protect their wealth. The decentralized nature of Bitcoin can bring great convenience and even some degree of stability to countries with high inflation or crisis. For example, Venezuela has become a hot spot for bitcoin mining and crypto payments, as the country’s hyperinflation increases demand for bitcoins.
In El Salvador, because 70% of the population does not have access to banking services, the country hopes to reduce its dependence on cross-border remittances and attract foreign investment by creating an environment for the use of cryptocurrencies. In El Salvador, cross-border remittances represent 24% of GDP. Compared to traditional remittance channels, Bitcoin can lower the costs of cross-border transactions and increase disposable income for some people.
Given the promotion of Bitcoin around the world, it is gradually becoming a global asset. While skeptical about bitcoin, countries like Korea and the US are promoting the blockchain industry, such as the metaverse, where bitcoin could play a major role. On Monday, members of the European Parliament’s Economic and Monetary Affairs Committee voted in favor of a moderate regulatory framework for cryptocurrencies. The framework is expected to promote the sustainable development of cryptocurrencies in Europe.
«With the adoption of the MiCA report, the European Parliament has paved the way for innovation-friendly crypto regulation that can set standards worldwide.”
Stefan Berger, MEP of the European People’s Party.
How to invest in Bitcoin
In any case, the Bitcoin market will remain volatile for some time. But using the right investment method can make volatility a powerful tool for profit. Futures trading is one of the most popular tools to grow your wealth. You can profit from price swings to make money by speculating on the price direction of cryptocurrencies.
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Other notable features
100x leverage
With the 100x leverage offered by Bexplus, you can open a 100 BTC contract with just 1 BTC from your wallet. By analogy, 10 BTC can open a 1,000 BTC contract. If you open a long contract with a leverage of 100, when the price rises by 1%, you will make a 100% profit. Similarly, if you open a short contract with a leverage of 100, when the price drops by 1%, you will also make a 100% profit.
100% deposit bonus
Bexplus offers a 100% bonus for each deposit, with which you can open larger positions and earn more profit. Deposit 1 BTC and you will get 2 BTC credited to your account. Each user can get up to 10 BTC for each deposit. (Bonuses cannot be withdrawn, the winnings obtained with the bonus can be withdrawn).
Bexplus BTC Wallet
When you are not trading, you can transfer your BTC to the interest earning wallet and enjoy up to 21% annualized interest without any risk, which is certainly one of the most profitable rates in the industry.
copy trading
With the copy trading Provided by Bexplus, you can automatically copy the trades of other great traders. It can be a really valuable portfolio for those just starting out in trading or those who don’t want to spend a huge amount of time managing their trades.
A demo account with 10 BTC
A demo account with 10 reloadable BTC offered by Bexplus can help you become more familiar with leveraged trading and practice trading without taking any risk. You can also learn how to analyze the market and use the toolkit with the demo account.
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Mobile app
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