UAE - Cryptocurrency Adds Headline the Super Bowl

(MENAFN- Dubai PR Network)

Cryptocurrency Adds Headline the Super Bowl

companies headlined the advertising spectrum. Coinbase even had a 60-second commercial that featured a bouncing QR code. If you could scan the QR code, it would bring you to a Promotion that would offer $15 worth of free bitcoin to new users who signed up for their crypto exchange. Cryptocurrency acceptance is continuing to gain traction, and this year's Superbowl ads show how much it's taking hold in the world's largest economy.

Cryptocurrency Explained

Many of you might be asking the question, what are cryptocurrencies? A cryptocurrency is a digital coin generated on a platform to ensure that it won't be duplicated or counterfeited. Cryptocurrencies are considered decentralized because they are not controlled by a sovereign government or a central bank. To start cryptocurrency trading you need to open an account with a broker or an exchange. There are several reasons that you might want to trade cryptocurrencies, and your reasoning can assist you in determining the best way to trade in the cryptocurrency market.

Cryptocurrencies can be used as currency at different vendors worldwide. Suppose you plan to exchange your sovereign money (like dollars or euros) for cryptocurrency and might want to spend the cryptocurrency. In that case, you need to open an account with a cryptocurrency address. To have an address, you need to have a crypto wallet. A wallet is an digital asset where you can store your cryptocurrency with a secure password.

Many cryptocurrencies such as Bitcoin and Ether live on a blockchain . A blockchain is a string of data stored in a row on a chain and never deleted. When new information becomes available, the data is added to the end of the blockchain. To access this information, you need to have a digital wallet with private or public keys to access your cryptocurrency on the blockchain. Your keys are stored in your wallet and allow you to access your cryptocurrency. If you forget your access to your digital wallet or hold only private keys and forget the password, you might not be able to access your cryptocurrency.

An alternative way to trade cryptocurrency is to trade a product that tracks the movements of a cryptocurrency, like a futures contract, an ETF, or a CFD. A futures contract, such as the futures that are traded on the Chicago Mercantile Exchange, tracks the future movements of Bitcoin. Some ETFs track the actions of those futures contracts. Another alternative is to trade contract for differences (CFDs). A contract for difference is a financial contract that mirrors the changes in the price of an asset. Several brokers provide these products, and it does not require that you open an account with a digital wallet.

Super Bowl Ads

Some Superbowl Ads can cost as much as 7 million dollars for a 30 second ad. According to sources NBC, who broadcast the Super Bowl, sold 85% of its ad inventory months ago. Despite the elevated cost of a 30 second spot, some four companies had cryptocurrency commercials advertising to the masses watching the Super Bowl. Some of these commercials had celebrities pushing the merits of cryptocurrency as an invention that should not be missed. FTX featured comedian Larry David mocking different inventions throughout the ages and telling the audience not to miss out on NFTs, the next big thing.

The Bottom Line

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