Tesla and SpaceX CEO Elon Musk has clarified that he is a Bitcoin supporter, if a bit “late to the party.”

Talking on invitation-only audio-chat app Clubhouse on Monday, Musk said, “I should have bought [bitcoin] eight years ago … I do at this point think Bitcoin (BTC, -5.77%) is a good thing. I am a supporter.”

The Tesla CEO further said Bitcoin, the top Cryptocurrency by market cap, is “on the verge of getting broad acceptance by conventional finance people.” He added that he did not have a “strong opinion on other Cryptocurrencies.

Musk did address popular meme-friendly Cryptocurrency Dogecoin (DOGE, +39.24%), saying he occasionally makes jokes about the coin. While Dogecoin is “made as a joke,” he said, it would be the most “entertaining and ironic outcome,” if DOGE became the “currency of earth in the future.”

“Fate loves irony,” he added.

In the past, Musk has sometimes teased the Crypto community by name-dropping Bitcoin and Dogecoin, but never clarified if he is a supporter any Cryptocurrency.

The new comments come several days after Musk changed his Twitter bio to read “Bitcoin,” prompting a 15% rise in the price of the Cryptocurrency. The sudden rise also caused the liquidation of $387 million-worth of Bitcoin short positions.

At time of this news report, Bitcoin is up 2.2% over 24 hours at $34,376 and keep going up.

DOGE Going To The Moon

After the TikTok pump last year, dogecoin (DOGE) is now seemingly being pumped by another online community. This time, it might be related to the r/wallstreetbets subreddit, with 4.6m (was around 2m yesterday) users, responsible for the GameStop pump this month. (Updated at 15:50 UTC: updates throughout the entire text.)

Early Thursday morning (UTC time), DOGE skyrocketed by around 75% in less than two hours, hitting USD 0.0136, before crashing to USD 0.0106 (07:36 UTC). However, later, the rally started again and pushed the price to its new all-time high of USD 0.024 before starting to move down again.

At the time of writing (15:43 UTC), DOGE, now the 17th largest (was the 33rd earlier today) Cryptoasset by market capitalization, trades at USD 0.0219 and is up by 191% in a day. "WSB Chairman" claims to be the "Chairman of WallStreetBets" and has over 485,100 followers on Twitter (it was 341,700 several hours ago). After DOGE skyrocketed, the author of the post followed with a question: "Has Doge ever been to a dollar?" During the TikTok pump last summer, the goal was also to push up the price of DOGE to USD 1. DOGE reached its all-time high of USD 0.01759 in January of 2018, per Coingecko.com data.

XRP Posted Biggest Single-Day Gain In 3 Years

XRP rallied hard on Saturday in a move similar to a crowd pump recently observed in out-of-favor stocks such as GameStop.

The Cryptocurrency jumped 56% to $0.50944 to hit the highest level since Dec. 22, according to CoinDesk 20 data. That was the biggest single-day percentage gain since Dec. 21, 2017. The double-digit price rise was likely fueled by members of a Telegram-based group called Buy & Hold XRP (+21.74%), which came into existence on Saturday. The group’s membership hit Telegram’s 200,000 ceiling within the first 24 hours, forcing a migration to a new official channel with a similar title but a different link.

“Traditional Crypto-Pump groups are being copied and legitimized by WallStreetBets-style crowd-pumps, and are now turning their burning gaze from Dogecoin (DOGE, +39.24%) to XRP,” Jehan Chu, co-founder and managing partner at Hong Kong-based Kenetic Capital, told CoinDesk.

Classic pump and dump tactics are not new to crypto, particularly for XRP, which has a strong army of followers. However, their morale may have been boosted by a group of amateur day traders based on a Reddit forum called WallStreetBets, who recently launched a coordinated buying attack on the video game retailer Gamestop, triggering a short squeeze and inflicting heavy losses for hedge funds.

Short-squeeze target GameStop (GME) surged nearly 400% last week, extending the preceding week’s 83% rise and attracting unwanted attention from regulators. Meanwhile, the meme-based Cryptocurrency Dogecoin surged 800% a day before XRP’s price pump. The data suggests the crowd buying tactics are returning to their home turf, having democratized the legacy markets. It remains to be seen if the Buy & Hold XRP group members remain faithful to the group’s title by holding the Cryptocurrency.

At the time of this report, XRP is changing hands near $0.45. The price rise has erased a significant chunk of the plunge from $0.55 to $0.20 observed following the U.S. Securities and Exchange Commission’s filing a lawsuit against Ripple Labs in late December.

Digital Asset Exchange

Coinmama is one of the most trusted Crypto currency exchange that offers users a platform to buy and sell Crypto currency via multiple payment options.

The exchange has over 2.7 million users, features a fast-track verification process and is available in 190 countries around the world. The company also operates in the United States, but services are limited to the states in which it has received regulatory approval to offer Crypto currency services.

While it does not offer trading options like margin trading, users find its high security and ease of use, especially when buying Bitcoin with a credit card, very appealing. This review of Coinmama contains everything you should know about the exchange, including how it compares to its peers in the industry.

Coinmama is also one of the oldest Crypto currency exchanges in the world and has earned a name for itself as a safe platform to quickly buy and sell Crypto currencies. It accepts Visa and Mastercard and supports all fiat currencies. Its fast delivery of purchased digital assets and high spending limits adds to the appeal.

At the time of this report, XRP is changing hands near $0.45. The price rise has erased a significant chunk of the plunge from $0.55 to $0.20 observed following the U.S. Securities and Exchange Commission’s filing a lawsuit against Ripple Labs in late December.

In addition, a simple and secure user interface means anyone looking to buy Bitcoin can register and proceed without any problems. However, the fees charged for credit/debit cards can be massively reduced through the loyalty program and extra earnings can be made by joining the very successful affiliate program that the platform has in place.

The reputation and safety of the exchange continues to grow and set standards of practice for all competitors. If you are interested in joining Coinmama for your crypto purchases, make sure you have your Crypto wallet ready, preferably, before you buy the coins.

The easiest way to buy & sell Cryptocurrency, trusted by over 2,600,000 people across 188 countries since 2013. Coinmama never holds customer funds or stores your payment information. Use the third-party wallet of your choice for complete control over your coins.

This is a step-by-step guide on how to start trading Bitcoin on Kraken exchange.

  • Sign Up
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  • Deposit USD (Credit Card, Debit Card and Bank Transfer)
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On Cryptocointrade, we aim to be your best crypto trading guide and we have several easy guides to follow and reviews for you to read.

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Once you have signed up and verified your identity you are ready for deposit and it will be applicable for any currency. Always be careful with credit card deposits since they usually involve higher fees.

How To Sign Up With Kraken

Once you have signed up and verified your identity you are ready for deposit and it will be applicable for any currency. Always be careful with credit card deposits since they usually involve higher fees.

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