Crypto Technology can be a great way to invest as long as the buyer is smart about their decision. Some of the biggest cryptocurrencies have been around for almost a decade, but it is only over the last couple of years that they have started to go mainstream. At the end of 2017, crypto frenzy reaches a fever pitch. The price of 1 Bitcoin can go up to almost $20,000 in mid-December, with more people than ever buying their own share.
With an epic growth like that, media interest in cryptocurrencies continued to soar despite falling prices. Stories continued to emerge which called into question their legitimacy. Turns out most people start to wonder if it is really safe to invest in cryptocurrencies. Questioning whether anything happens and could cause bankrupt.
Here we will answer the few most frequent ask question
Are Cryptocurrencies A Safe Investment?
Well, there is no such thing as a safe investment. There will always be a risk in every single investment that you made it’s just that it will be a higher risk or a lower risk investment. There are certainly some investment that is safer than others, but for the most part, any investment has an element of risk. The volatility with which cryptocurrencies have fluctuated over the last 12 months certainly evidences a higher risk of loss, but it is what has made them such a lucrative investment for so many people. Buying and selling cryptocurrencies does not have to be a high-risk activity if the traders understand the marketplace and are responsible for the way that they invest.
Will My Crypto Get Stolen ?
Well aside from the ostensible risk associated with cryptocurrencies in terms of investment, their vulnerabilities against cyber-attack have also been a point of contention. As cryptocurrencies have become more popular, and therefore used by a much wider audience. With this, they have inevitably become the focus of cyber-attack. Unfortunately, there have been several high-profile cryptocurrency attacks over the last couple of years. These cause the cryptocurrency owners to lose their coins and unable to get them back.
Are Cryptos Being Used By Criminals?
On a much wider scale, cryptocurrencies have been called into question. This is because of the alleged facilitation of criminal activity such as money laundering. Certain claims have been made that cryptocurrencies are affording criminals the anonymity they need. Being they do not have to use typical fiat currencies and bank accounts. In fact, the converse is true. The technology that underpins cryptocurrencies, blockchain, ensures that all transactions are traceable.
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