Its most recent decline came just this week, when the value of Bitcoin plummeted by 10% on the day El Salvador became the first country to accept the cryptocurrency as legal tender. The cost of one bitcoin is now $47,000.
The Financial Conduct Authority, the city’s regulator, warned this year that people buying bitcoin did not understand it, warning that the cryptocurrency is so risky that prices can reach zero.
It found that only 58% of people believe they have a good understanding of how cryptocurrencies work and cautioned investors who bet on them to be “prepared to lose all their money.”
Berlin-based Swarm Markets is regulated by BaFin, the German financial regulator, and allows users to trade and store cryptocurrencies, as well as lend their investments to earn interest, otherwise known as “yield farming.”
“By making it easy and safe to buy real Bitcoin and Ethereum, more people now have the option to get started in cryptocurrency,” said Philippe Pepper, Swarm Markets.
A Post Office spokesperson said: “Access to products and services online is growing and we have responded to this shift by launching our free app, Post Office EasyID, allowing people to build their secure digital identity on their smartphone and enabling them to easily control and prove their identity in any business they want to interact with. with him”.
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