# Digital currency
From Banks to Bitcoins: How Digital Currency is Revolutionizing Financial Transactions
As technology advances, digital currency, such as Bitcoin, is becoming increasingly popular. These cryptocurrencies allow for peer-to-peer financial transactions to be made with ease, eliminating the need for exchanging traditional currencies and the fees associated with banks.
Colombia to Battle Tax Evasion Epidemic With Official Digital Currency
The South American nation of Colombia is planning to launch its own official digital currency in a bid to stop tax evaders. Per the Atlantic Council's Central Bank Digital Currency Tracker, Colombia will join 10 other nations that have already created official digital currencies:
Impact of the digital world on business
We are a society driven by digital technology. Such is its impact that there are countries where citizens don’t have running water, basic electricity but own smartphones. It doesn’t matter if you’re a major company or a work at home mum or dad business, digital marketing has an incredible influence on people’s interactions, work, purchases, and life habits, it’s caught some businesses out who thought that it would be just a new passing fad.
Currency Trading VS Stock Trading
The currency trading market differs from the stock market in many areas. When stocks begin to plummet panic ensues. People get nervous about their stock holdings and want to close their positions quickly. When forex trading currency prices begin to plummet golden opportunities arise. The currency that is plummeting means the currency that is paired with it is rising quickly. Traders who have these positions will jump for joy as other potential investors begin flocking to these rising opportunities.
Ukraine To Cancel Crypto Airdrop, But Looking To Invest In NFTs
Move over Digital Currency and Make Way For NFTsCanva Premium Images. The government of Ukraine has canceled its much-hyped cryptocurrency "airdrop," supposedly to reward individuals who donated cryptocurrency to Ukraine during the Russian invasion, and will issue NFTs instead.
Paypal Exploring Launching It's Own Cryptocoin
PayPal is looking into launching its own crypto currency.Bermix Studio/Unsplash. A new report from Bloomberg says that PayPal is considering launching its own cryptocurrency. The move comes as they look for ways to integrate ways to engage with digital coins on its platforms. Right now the company is just exploring the idea of releasing its own crypto coin. A digital currency that will be backed by and linked in value to a current currency.
Bitcoin Being Controlled By the One Percent
Bitcoin is being controlled by the one percent.Executium/Unsplash. A new study has revealed that 27 percent of Bitcoin is being controlled by just 1 percent of all holders. According to the National Bureau of Economic Research has found that the top 10,000 Bitcoin accounts hold 5 million Bitcoins, with a value of nearly $232 billion. They say this concentration could cause a price collapse if everyone sold their holdings at once.
Crypto Exchanges Continue to Be Hacked But Not Much Can be Done
Crypto exchanges are becoming targets of hacks and there's not much anyone can do about it.André François McKenzie/Unsplash. Crypto exchanges have become the newest target of hackers during the bitcoin boom. In 2021, there have been over 20 hacks where digital hackers stole at least $10 million in digital currencies from an exchange. The Cryptobase reports that in six cases, hackers stole more than $100 million. According to FBI crime statistics in 2020, bank robbers netted less than 5,000 per heist.