Cryptocurrencies have experienced a rise and fall in recent times, as certain billionaire figures – such as Elon Musk – and governments have chosen to give them a boost as legal tender, but they have also experienced some setbacks such as the “cryptocrash”, which occurred at the beginning of May. of 2022 that put many virtual currencies in check.
Despite this panorama, more and more people have decided to acquire cryptocurrencies with the hope of having a medium and long-term investment, despite the volatility that characterizes them.
This is the price of the main cryptocurrencies for this May 5.
He bitcoin It is trading this day at $63,871.37, which implies a change of 1.56% in the last few hours.
The second most popular virtual currency on the market, ethereumhas shown a movement of 1.19% in the last 24 hours, so its value is located at $3,140.56.
About Tether USis trading at $1, so on the last day it had a movement of -0.04%.
For its part, BNB has a value of 586.31 dollars, with a change of -0.12%, while the litecoin It does the same with 81.18 dollars after a variation of -0.91%.
Finally, the dogecoinone of the digital currencies that Elon Musk himself has promoted, has a value of $0.16 after presenting a change of 10.79% in the last 24 hours.
After the first weeks of May 2022, the “cryptocrash” or “cryptowinter” that exposed the enormous volatility of these digital currencies, A new period of relative stability has arrived.
Bitcoin, ethereum and BNB have shown “controlled” variations, since prices have not skyrocketed as in previous weeks. For example, at the beginning of August, these cryptocurrencies had a change of less than 2%.
On the other hand, something that is attracting attention in the world of cryptocurrencies is that China is relaxing its restrictions and could begin to allow its use. Specifically, it would be Hong Kong where this change would be present.
PayPal, widely recognized for its digital transactions, announced its own stablecoin called PayPal USD (PYUSD)which is backed by dollar deposits, short-term US Treasury bonds and equivalent assets.
The organization has stated in its statement that it will allow the transfer of funds to third-party digital wallets and will provide details on how to integrate its service into centralized and decentralized exchanges, with the aim of being used in Decentralized Finance (DeFi). Therefore, it is very likely to be widely used in the Web3 industry.
Cryptocurrencies in Mexico: The Bank of Mexico (Banxico) has determined that none of the institutions that participate in the national financial system may use or must allow operations of any kind through this means of payment.
However, a study carried out in 2022 by the Finder firm shows that in the country there are around 12 million Mexicans who own cryptocurrencies, with 59% men and 41% women.
In Mexico, businessman Ricardo Salinas Pliego, one of the richest in the country, has shown interest in cryptocurrencies and has assured that several of his businesses will accept bitcoin in the future, including his bank; Currently one of the most popular stores already does it.
Cryptocurrencies in Peru: The Central Reserve Bank of Peru (BCR) has made it clear that its mission is not to be the first or the second central bank to regulate the use of cryptocurrencies, due to the instability that characterizes them. However, days ago the president of the (BCR) assured that the BCR was working on its own digital currency project.
Cryptocurrencies in Colombia: In the South American nation there are more than 500 places where it is allowed to pay with cryptocurrencies. Colombia ranks 14th among 26 cryptocurrency adoption countries, according to Finder’s report.
Cryptocurrencies in Central America: in the government of The Saviorhas given him his vote of confidence and on June 9, 2021 became the first country to legalize bitcoin as legal currency. Additionally, President Nayib Bukele announced his intention to create the first Bitcoin City in Conchagua and it would be financed through tokenized bonds backed by bitcoin.
When creating a cryptocurrency it is important to first determine what you want to have: a coin or token. The first uses its own blockchain, while the second is based on a pre-existing network.
According to the Binance site, to create a cryptocurrency you need a large team of developers and experts; while for the token technical knowledge is required but it is possible to create it in minutes through the use of other blockchains like Ethereum or BNB, which are the most popular.
The creation costs, the time required and the use of labor will depend on whether you choose to make a virtual currency or a token. In the latter case you can also use a established code to create tokens or pay to use a coin creation service.
It is important to know that before creating a cryptocurrency, its usefulness and legal status must be considered.
In the case of choosing to create a cryptocurrency, then a blockchain must be chosen, subsequently a plan must be made according to the operation and functionality of the blockchain to design the nodes and interface.
