Some US lawmakers are considering banning cryptocurrencies. They are considering this because cryptocurrencies are hard to track, which leads to hackers hacking systems and getting ransom money in cryptocurrencies, which prevents them from being tracked. Some of the companies that got hacked recently include: the oil pipeline company Colonial Pipeline, and the food packing company JBS.
Cryptocurrencies are online currencies, which are very secure, causing hackers to get away very easily. Bitcoin is the most popular cryptocurrency, and it’s market cap is bigger than twice the second biggest cryptocurrency. Some other cryptocurrencies include: Ethereum, Dogecoin, and Litecoin.
All cryptocurrencies are not in the same price zone – Bitcoin’s price is $36,154.96 as of June 7, 2021 10:20 AM for one token, and Dogecoin’s price is $0.36 as of June 7, 2021 10:20 AM for one token. Also, it does not mean that the lower a cryptocurrency’s price is, the less popular it is. For example, Dogecoin has the 6th biggest crypto market cap as of June 7, 2021, and it is $0.36 for one token, and Litecoin has the 14th biggest market cap as of June 7, 2021, and it is $178.30 for one token.
