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cryptocurrency

Cryptocurrencies are digital tokens — not coin or cash — but digital money which allow people to make payments directly to each other through an online system set-up to allow peer-to-peer transactions without needing a bank. Cryptocurrency payments exist purely as digital entries into an online database that describes specific transactions. Cryptocurrency is stored in a digital wallet. Cryptos came into existence after the 2008 financial market crisis when a need was felt to democratise how currencies are held, exchanged and regulated. That year a person under the anonymous name Satoshi Nakamoto invented Bitcoin. Cryptos today also include Ethereum, Tether, Cardano, and Dogecoin, among others. Cryptos are more democratic in nature – you can use them in any part of the world, but as much as you want and use them anywhere. There is a network of people and their computers which maintains a ledger and any transaction must be validated by all those present in that network. The ledger then gets updated to reflect the transaction. This technology is called blockchain. Cryptos also express values in units similar to traditional currency and some people also consider Bitcoin comparable to gold as they are finite in number and supply and need to be mined. Mining is the process by which new cryptos enter circulation and is also a critical component of the maintenance and development of the blockchain ledger. More

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  • Terra crisis: Family bonds shattered, dreams ripped apart May 17, 2022 10:35 AM IST

    Terra crisis: Family bonds shattered, dreams ripped apart

    Many Terra investors have lost hope of recovering their money after the Terra crash last week.

  • Investor Bill Ackman's take on the Terra Luna crypto crash May 17, 2022 10:29 AM IST

    Investor Bill Ackman's take on the Terra Luna crypto crash

    Billionaire American investor Bill Ackman described digital ledger technology blockchain as a "brilliant with enormous potential" but flagged the risks associated with schemes like Luna.

  • Bitcoin back below $30,000; European regulators renew crypto warnings May 16, 2022 04:05 PM IST

    Bitcoin back below $30,000; European regulators renew crypto warnings

    HONG KONG Cryptocurrencies resumed their slide on Monday, giving up the gains they had eked out over the weekend, as regulators continued to c..

  • Metaverse: Limitless potential over the next decade May 16, 2022 12:13 PM IST

    Metaverse: Limitless potential over the next decade

    Digital assets are helping entrepreneurs and developers alike in creating a transactional framework for the metaverse

  • FTX chief Sam Bankman-Fried says Bitcoin has no future as a payments network May 16, 2022 10:12 AM IST

    FTX chief Sam Bankman-Fried says Bitcoin has no future as a payments network

    "The Bitcoin network is not a payments network and it is not a scaling network," the report quoted FTX founder and Chief Executive Officer Sam Bankman-Fried as saying.

  • Cryptos can lead to dollarisation of economy: RBI officials to par panel May 15, 2022 07:14 PM IST

    Cryptos can lead to dollarisation of economy: RBI officials to par panel

    Briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, top officials of the RBI expressed their apprehensions about cryptocurrencies and said these pose challenges to the stability of the financial system.

  • Cryptocurrencies: Why they've crashed and what it could mean for their future May 15, 2022 10:12 AM IST

    Cryptocurrencies: Why they've crashed and what it could mean for their future

    This crash was possibly triggered by a financial attack on the stablecoin Terra (UST), which is supposed to match the US dollar but is presently trading at just 18 cents.

  • Cryptocurrency Prices Today May 15: Ethereum falls 2%; Cardano, Dogecoin shed up to 6% May 15, 2022 08:38 AM IST

    Cryptocurrency Prices Today May 15: Ethereum falls 2%; Cardano, Dogecoin shed up to 6%

    Bitcoin has dropped about 37 percent year to date. Other cryptos have fared just as poorly. Ethereum has dropped 44 percent and dogecoin has fallen 53 percent.

  • Top Cryptocurrency News Today: The biggest moves in Bitcoin, NFTs, crypto rules and more May 14, 2022 10:19 AM IST

    Top Cryptocurrency News Today: The biggest moves in Bitcoin, NFTs, crypto rules and more

    A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum, and NFTs to help you jump-start the day.

  • Cryptocurrency Prices Today May 14: Breather from sell-off; Bitcoin, Ether in green May 14, 2022 09:23 AM IST

    Cryptocurrency Prices Today May 14: Breather from sell-off; Bitcoin, Ether in green

    Bitcoin has dropped about 37 percent year to date. Other cryptos have fared just as poorly

  • Indian exchanges delist Luna after its price crashed below $1 May 13, 2022 06:33 PM IST

    Indian exchanges delist Luna after its price crashed below $1

    For the uninitiated, Luna’s downfall started when its sister token UST, which is also a stablecoin, was 'depegged' from its $1 value as big investors started dumping it.

  • Crypto market: Why is there a crash and what’s next? May 13, 2022 01:47 PM IST

    Crypto market: Why is there a crash and what’s next?

    The plunge in the value of cryptocurrencies also revealed that they are not as insulated from the financial markets as they are made out to be.

  • Top Cryptocurrency News Today: The biggest moves in Bitcoin, NFTs, crypto rules and more May 13, 2022 09:44 AM IST

    Top Cryptocurrency News Today: The biggest moves in Bitcoin, NFTs, crypto rules and more

    A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum, and NFTs to help you jump-start the day.

  • Global crypto regulation body likely in next year, top official says May 13, 2022 07:19 AM IST

    Global crypto regulation body likely in next year, top official says

    Ashley Alder, chair of the International Organization of Securities Commissions (IOSCO) said the boom in digital currencies such as bitcoin was one of the three main areas authorities were now focused on, alongside COVID and climate change.

  • Crypto meltdown deepens as stablecoin Tether drops below dollar peg May 12, 2022 07:52 PM IST

    Crypto meltdown deepens as stablecoin Tether drops below dollar peg

    Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week as data showed U.S. inflation running hot, deepening investor fears about the economic impact of aggressive central bank tightening.

  • Campbell Wilson: 10 things to know about the new Air India boss May 12, 2022 04:06 PM IST

    Campbell Wilson: 10 things to know about the new Air India boss

    Campbell Wilson has 26 years of aviation industry expertise across both full service and low-cost airlines. He was appointed the CEO and MD of Air India on Thursday.

  • Crypto crash: Twitter's answer to buy bitcoin 'dips' whose price goes 'dipping' May 12, 2022 02:43 PM IST

    Crypto crash: Twitter's answer to buy bitcoin 'dips' whose price goes 'dipping'

    While writing about what the crypto crash means for investors, columnist Lionel Laurent said that bitcoin’s 50 per cent slide in six months highlights its flaws in times of stress.

  • Bitcoin hits 16-month low; Crypto crash decoded May 12, 2022 12:43 PM IST

    Bitcoin hits 16-month low; Crypto crash decoded

    Cryptocurrencies continue to crash. Bitcoin falls to 16-month low triggered by the collapse of Terra stablecoin. Watch Karunya Rao And Manisha Gupta decode the fall of the cryptos and the way forward

  • Bitcoin falls to 16 month low May 12, 2022 09:24 AM IST

    Bitcoin falls to 16 month low

    The world's largest cryptocurrency dropped around 2% to as low as $28,379.26, its lowest since January 2021.

  • Crypto exchange Binance hires former Deputy US Attorney to manage legal affairs May 11, 2022 07:15 PM IST

    Crypto exchange Binance hires former Deputy US Attorney to manage legal affairs

    Eaton will be responsible for Binance's legal affairs, leading the support for global compliance, investigations and law enforcement coordination activities, the company said in a statement.

  • Moneycontrol Pro Panorama | Cryptos are jumping from one crisis to another May 11, 2022 03:32 PM IST

    Moneycontrol Pro Panorama | Cryptos are jumping from one crisis to another

    In today’s edition of Moneycontrol Pro Panorama: Metal rollercoaster, FM’s rescue act, what OECD pointers say, and more

  • The sun starts to set on Wild West days of crypto May 11, 2022 01:21 PM IST

    The sun starts to set on Wild West days of crypto

    Concerns over money laundering and market crashes are growing as more consumers bet on digital assets

  • Cryptocurrency industry braces for more uncertainty with proposed 28% GST May 11, 2022 01:16 PM IST

    Cryptocurrency industry braces for more uncertainty with proposed 28% GST

    The industry is currently considering its options and is hoping to approach the government for talks on reconsidering the tax rate.

  • Bitcoin price: What the crypto crash means for investors May 11, 2022 11:05 AM IST

    Bitcoin price: What the crypto crash means for investors

    The cryptocurrency is a poor substitute for cash in an inflationary environment

  • Crypto assets shed $800 billion in market value in a month May 10, 2022 08:57 PM IST

    Crypto assets shed $800 billion in market value in a month

    Bitcoin, which makes up for nearly 40 percent of the crypto market, hit a 10-month low earlier on Tuesday, before rebounding to $31,450, just six days after touching $40,000. It was more than 54 percent below its November 10 all-time high of $69,000.

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