How safe is cryptocurrencies?

[Nomad]

Crypto currency investment is safe if you invest in top performing crypto currencies and have the financial strength to hold your portfolio until you can make profits. If you look back at the price history, most of the currencies have always give up high after the dip

 

[Nurudeen]

Before you go into crypto currency exchange Business, make sure you buy your coin with a crypto currency exchange platform that have one of the best security system that can protect your coin, with that you are save.

 

[Josemendez]

Before you go into crypto currency exchange Business, make sure you buy your coin with a crypto currency exchange platform that have one of the best security system that can protect your coin, with that you are save.

You will not be fully safe if the money remains in the exchange. Exchanges are centralized. Is better you buy through them and save them in Decentralized wallets

 

[Aaron625]

Hacking do takes place in large scale when it comes to crypto exchanges and wallets , but its up to us to invest money in buying hardware bitcoin wallet so you can keep your coin safe , off course it is not regulated by any government because the nature of any crypto coin is decentralized.

 

[gammarays]

Crypto is a digital asset so may not have any sole governance over it. Crypto is safe or unsafe depending on the platform backing it. The platforms are regulated and duly registered. Other platforms are just scams set up to ripoff people.

 

[Suba]

Cryptocurrency are not backed by a government.
Cryptocurrencies are not insured by the government like U.S bank deposit are, This means that cryptocurrencies stored online does not have the same protections as money in a Bank account.

People who are against cryptocurrencies will have the same opinion as your opinion above, but cryptocurrencies also have advantages including: anti-inflation, P2P, not affected by any country's currency, encrypted, decentralized, transaction fees are cheap, practical, and fast. How safe are cryptocurrencies? I think it's very safe even though many crypto exchanges are hacked, aren't there many banks being robbed, internet banking being hacked. Cryptocurrencies will last as long as crypto users exist.

 

[btaliat]

Crypto is not as safe as fiat money kept in banks. There are ways where coins can be lost if not care is taken. That's why they do advice crypto users to make user they keep their coins safe by using some wallets with high securities.

 

[Victorial]

The fact that it is not regulated and accepted by the government made it unsafe plus the fact that they are volatile. I don't store my money for long; barely up to 24 hours.

 

[Alexandoy]

You can ask a crypto coin fan about the safety and what you will get is a positive answer. Fans of crypto are trying their best to recruit investors so the market will perk up and help the investors. That is my take on the safety of crypto currency. When there are not more investors then the crypto coin dies.

 

[Setfragil]

Cryptocurrency is safe like every other currency as well. If you safeguard and protect your wallet very well, nothing will happen to your money or coin in it.

 

[Zevin]

If you store your crypto currency in a web wallet or smartphone wallet, you might lose your crypto assets when hacking happens. Therefore, you need to use a secure wallet to store crypto currencies.

 

[Grandeur]

I even feel that it is because crypto currency does not have government intervention or any intervention for that matter is one of the reasons it is safer

 

[eLdavis]

I even feel that it is because crypto currency does not have government intervention or any intervention for that matter is one of the reasons it is safer

LoL I agree with you. The government these days are not straight forward and trust worthy, they are just after what they can earn for themselves alone

 

[Josephjossy]

I don't think you've taken NYC is a saved and guaranteed business to invest on because that the chances of you losing your money before you invest in cryptocurrency make sure you don't invest the money you can't afford to lose because they are high chances of losing money

 

[Grandeur]

LoL I agree with you. The government these days are not straight forward and trust worthy, they are just after what they can earn for themselves alone

Look at the world currencies around that are controlled by the so called government, the money in my country keeps devaluing and the government isn't even sure what to do

 

[eLdavis]

Look at the world currencies around that are controlled by the so called government, the money in my country keeps devaluing and the government isn't even sure what to do

Simply because the resources that are ment for the betterment of these things, instead of putting them in, they would rather take it for themselves.

 

[Bousine123]

I don't see cryto is a safe way to save money, most people go into it to get rich quick, while some invest little and wait for a long time.

 

[Senator]

Cryptocurrency are very safe no matter however angle you want to look at it from. There is always the stable coin tonback your cryptocurrency assets in to safe you from the fluctuating effects of the cryptocurrencies too

 

[Lens]

Cryptocurrency is safe but if you mistakenly send cryptocurrency to a wrong address, it can't be reversed. But if it were the commercial banks, there is a mechanism that could be use to track the fund beneficiary. If this could be put in place in the crypto world, it will be safer.

 

[Grandeur]

Simply because the resources that are ment for the betterment of these things, instead of putting them in, they would rather take it for themselves.

I tell you, the human factor is what is destroying the government, many humans just think about their selfish gains irrespective of how it would affect others, which is what would happen if the government controls crypto there would be more loss for commoners.