It is well known that the SEC has something against Crypto Currency and rightly so. It is one of the most unregulated industries in the world and deals with billions of dollars.

These lawsuits are massive and have affected the industry massively. Bitcoin dropped 26,806 to 25,440 in four and a half hours. Binance coin went from 300 to 276 however Bitcoin managed to recover after those losses. Binance has continued to decrease, now valued below 260.

Why IS The United States Securities and Exchange Commission Cracking Down On Crypto?

Since the launch of crypto and its ongoing popularity of digital currency, SEC has been cracking down on the industry, especially after the FTX collapse in November. Sec has now launched 30 crypto-related enforcement, making the industry question its legitimacy and the SEC first clashed with Genesis Capital and Gemini with their crypto lending scheme. These two trading groups also suffered during the FTX collapse.

Not long after this, SEC claimed Terraform Labs and Do Kwon, the CEO of the operator, were defrauding their investors. It isn’t just major stakeholders in the industry that are targeted either. Kim Kardashian also had a lawsuit filed against her for touting EMAX tokens. The consequence of this is that Kardashian had to pay a 1.26 million dollar fine.

Despite all of these cases, it isn’t all doom and gloom for the crypto industry. In 2020, SEC sued the company Ripple due to operating unregistered securities for their coin, XRP. If this passes and Ripple is found not guilty, this will have a massive impact on the industry, shooting up the prices of many cryptocurrencies around the world.

The two recent cases launched on both Binance and Coinbase could put the industry back five or ten years. The current valuation of these coins could lose value rapidly, leading to people losing millions of pounds in their investments. Nonetheless, major investors understand the risk of cryptocurrencies.

Why Has SEC Filed A Lawsuit On Binance?

The main reason the lawsuit against Binance has been filed is because of the accusation towards the CEO of the company. Changpeng Zhao has been accused by the SEC of sending billions of dollars of customer funds to the companies that Zhao also owns or plays a major role in. As it stands, there are a total of 13 civil charges against the CEO of Binance.

It doesn’t stop there for the lawsuit against Binance either. They have also been charged for unregistered securities. However, the evidence is quite strong in this one. The former chief compliance officer said to another colleague back in 2018 that they are “an unlicensed security exchange in the USA” over a text message.

Although Binance has reacted professionally to the allegations from SEC, they have also said they are not guilty of the charges. They have also mentioned that the SEC has used “blunt weapons of enforcement and litigation”.

Why Has SEC Filed A Lawsuit Against Coinbase?

It didn’t take SEC long for them to focus on another major player which is Coinbase. They also claim that Coinbase has been operating unregistered securities. However, Coinbase stated that SEC is only focusing on the industry because of the absence of clear rules in the industry and is competing with the finance market in the US.

Although the relationship between Coinbase and the SEC has been “friends” however it is only until recent months that their relationship has crumbled. Coinbase sued SEC because they wanted to have answers for legalising crypto securities.

To Conclude

As you may know and have seen in the news, cryptocurrency is highly volatile. Due to this, it has helped people make millions, whilst others have lost millions. Nonetheless, this is a battle that is far from over, with many people believing cryptocurrency will be the frontrunner for many countries across the world.

SEC is looking to make the industry more regulated however, many people believe they are going the wrong way about it. Crypto companies believe that there isn’t enough legislation in the industry, causing them to break the rules, even though there are very few in place.

As lawsuits for Binance and Coinbase continue, many people have doubts about the digital industry. Nevertheless, many traders still have faith in the industry and digital currency, using it to make millions. If you are one of those traders who have lost money in the crypto industry, your money might not be lost yet. There are many crypto recovery firms that aim to help you recover the money you have lost.

The post Is The Lawsuit From SEC Unfair On Binance And Coinbase? appeared first on Being Crypto.

Binance is a renowned and trusted name with a global presence. In 2022, 30 million people used the platform, according to Earthweb.

As a beginner, if you wish to try out the platform yourself, here are some useful pieces of info you need to know about.

What is Binance?

Founded in 2017, Binance is a leading platform offering cryptocurrency exchange in multiple currencies.

It is a beginner-friendly online exchange platform that offers multiple resources to beginners to learn the basics and actively invest in learning from practical experience.

You can carry out crypto-to-crypto exchanges in over 360 cryptocurrencies and virtual tokens. The platform deals with currencies like BTC, LTC, and Dodge and has its own currency, known as BNB.

The Binance platform provides a crypto wallet for traders to store their electronic funds, earn interest or transact using cryptocurrencies.

Learning the Basics

Binance offers multiple resources, documentation, blogs, and courses to help people learn about the basics of crypto, trading, investing, financial analysis, etc.

With nearly half of Binance users being hobbyists (according to earth web), the platform is not only for experts but for anyone interested in this domain. You can check out the Binance Academy, where you will find multiple courses on blockchain and crypto.

Using Binance as a Beginner

After understanding the Binance platform and learning the basics of crypto, you can follow these steps to buy your first Bitcoin or any other altcoin.

1. Create Your account

Open the Binance site and go to the homepage. You will see a “Register” option at the top right corner.  Click it.

2. Verify Your Account

Go through the verification steps to prove your identity and fulfill the Binance legal requirements. This step takes only a few minutes.

3. Use your credit/debit card

Now you can buy crypto using your credit or debit card with the Convert feature. With the trading view, you can transfer currency from your bank account to purchase digital assets.

Check out how to deposit money in Binance account for more info. Learn about withdrawing money from your Binance account on the BlogPakistan site.

4. Buying a Bitcoin

You can now begin to diversify your portfolio by buying an altcoin such as BNB. Log in to your Binance account, move to the “Buy Crypto” button, and click “Credit/Debit Card.”

Next, you will need to choose from different cryptocurrencies. Select the correct fiat currency (fiat currency is a conventional currency like the US dollar). Now fill in your card details and wait for the crypto to be credited to your account.

That’s it!

The World of Crypto

When you buy crypto, you can sell, trade, or hold it as per your desired strategy.  You can consider long-term holding by keeping your cryptocurrencies in your Binance account or transferring them to an external cryptocurrency wallet.

Have fun with your digital assets!

Advantages of Using Binance

Binance is a great platform for you to explore the world of Crypto, here are just some of the reasons why a beginner should consider Binance:

• Freedom

Anyone can use the Binance platform. You are free to explore and learn crypto through active investment and trading. Note: You must be at least 18 to use the platform and have a valid ID card.

• Safety

The network is designed in a way that it’s very safe and immune to hackers. When you work with Binance, you don’t need to worry about your data and assets.

• Fast and Cheap

Transferring funds is super fast, easy, and cheap with Binance. The cost of transferring funds internationally is very low compared to international wire transfers.

• Beginner Friendly

Binance offers tons of resources to beginners to start their crypto journey. You can learn through blogs, courses, and practical use of the platform to get started.

Our Take!

Being one of the most popular platforms for crypto exchange, Binance offers great opportunities to beginners.

You can learn, earn and grow your profile and become financially independent by benefitting from the ever-growing crypto market.

The steps are easy to understand, there are multiple resources, and a huge community to interact with and learn from.

Try Binance today and see for yourself

The post Is Binance an Initial Point for Beginners in Cryptocurrency? appeared first on Being Crypto.

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Although Bitcoin dominates the conversation when it comes to cryptocurrencies, there are literally thousands of other options. What are known as “altcoins,” or alternatives to Bitcoin, are actually cryptos that aren’t Bitcoin and are typically regarded as an “also ran.”

Even while Bitcoin may have been the first significant cryptocurrency to enter the market when it initially appeared in 2009, many others have since grown to be very successful, if not nearly as significant as the original.

Finding the best crypto assets to buy today can be difficult given that there are currently more than 22000 coins available.

By discussing the top 10 cryptocurrencies to buy right now, we dispel this uncertainty and assist you in beginning your altcoin investing. We also cover everything else you need know about cryptocurrencies, including how and where to buy them.

The Top Cryptos to Buy in 2023: A Closer Look

The reasons each of these coins was chosen as one of the top cryptocurrencies to buy right now will be discussed in this section. Additionally, we’ll talk about how future performance is anticipated by our analysts and the larger crypto community.

Dogecoin (DOGE)

Dogecoin gets its name from an online meme that features a Shiba Inu dog and was first made as a joke following the run-up in Bitcoin. Dogecoin features unrestricted issuance, in contrast to many other digital currencies that cap the number of coins that can be produced. It can be used to send money or make payments.

Solana (SOL)

Solana is a more recent cryptocurrency that was introduced in March 2020. It boasts of the quickness with which transactions are completed as well as the general durability of its “web-scale” network. The total number of coins that can be issued in the SOL currency is 480 million.

Cardano (ADA)

The digital currency’s name, ada, refers to the Cardano blockchain platform. Cardano, a cryptocurrency that was developed by the Ethereum co-founder, also makes use of smart contracts to support identity management.

Binance USD (BUSD)

The leading cryptocurrency exchange Binance and Paxos have partnered to create Binance USD, a stablecoin backed by the dollar. The New York Department of Financial Services oversees Binance USD, which was introduced in 2019. The Ethereum blockchain is built upon by BUSD.

XRP (XRP)

The 2012 invention XRP, formerly known as Ripple, provides a method for making payments in a variety of different fiat currencies. With its trustless payment system, Ripple can be helpful in international transactions.

USD Coin (USDC)

Similar to Tether, USD Coin is a stablecoin whose value is fixed to the US dollar and so should not change. The creators of the currency claim that it is backed by completely reserved assets or those with “equal fair worth,” and that these assets are kept in accounts with supervised U.S. institutions.

BNB (BNB)

The BNB coin belongs to one of the major cryptocurrency exchanges in the world, Binance. In spite of the fact that Binance Coin was initially intended to be a token for discounted trades, it is now also used to pay for a wide range of goods and services.

Tether (USDT)

The price of Tether is fixed at $1 per coin. This is due to the fact that it is a stablecoin. In the case of Tether, the value of a given asset is linked to the value of the stablecoin. Tether frequently serves as a bridge when traders switch between cryptocurrencies. They stick with Tether rather than switching back to dollars. However, some people worry that Tether uses a short-term type of unsecured debt rather than being securely backed by dollars held in reserve.

Ethereum (ETH)

The term you’re most likely to remember in the cryptocurrency world is Ethereum, the moniker for the cryptocurrency platform. The money, ether, can be used in the system for a variety of tasks, but Ethereum’s smart contract feature contributes to its popularity.

Bitcoin (BTC)

Since it was the first cryptocurrency, Bitcoin is still the coin that most people think of when discussing virtual money. The currency made its debut in 2009, according to its enigmatic creator, Satoshi Nakamoto, and has since experienced a roller-coaster of a ride. The cryptocurrency didn’t enter the public consciousness, though, until 2017.

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