Why cryptocurrency is dangerous?

[Yaqoob Habib]

Trading cryptocurrency is very risky.the industry is not regulated and the currency is not backed up by any kind of government or central bank.Even through cryptocurrencirs are designed to be theft -proof,there's still a considerable risk for fraud and cyber-crime.

 

[Patrik]

Trading is just one way of cryptocurrency's usage, which is pretty risky, that's a sure thing, besides that, cryptocurrency can be used as a form of payment method or even considered as a way of investments

 

[Zevin]

I think this is a wrong notion. Over the years Cryptocurrency, just like other investment areas, has developed into a digital asset that gives good dividends. When it comes to trade and commerce, everything is risky. You may call setting up a brick and mortar shop is good business, yet a lot of people go bankrupt. The only risk factor with crypto is you should not immediately start investing on new crypto currency.

 

[Aqkhan]

The cost-effectiveness of Digital Marketing, when compared to offline endeavors, is similar to that of a machine if matched with a human.

That happens because, with more traditional marketing methods and techniques, small businesses can’t compete with big brands. After all, they lack the resources and personnel needed to make a big compainge work

 

[lelakil3]

Trading cryptocurrency is very risky.the industry is not regulated and the currency is not backed up by any kind of government or central bank.Even through cryptocurrencirs are designed to be theft -proof,there's still a considerable risk for fraud and cyber-crime.

Cryptocurrencies are not affiliated with the government, but government are also in too in fact the market in cryptocurrencies are rapidly increasing it can be a source of income to anyone. It is too risky that the government need to implement a anti-cyber crime.

 

[Holluwaphemmy]

I don't know how much you spent on cryptocurrency or you have investment but I can argue that it is as risky as it is also beneficial. You can imagine you have a Have a little cryptocurrency then the price stay depreciating

 

[chicnthin]

It is rather risky because we could lose big amount, but so does in other investment type. It will only be dangerous if you don't know how you control yourself into investing that might lead to a huge loss or debt.

 

[Dubai]

Trading cryptocurrency is very risky.the industry is not regulated and the currency is not backed up by any kind of government or central bank.Even through cryptocurrencirs are designed to be theft -proof,there's still a considerable risk for fraud and cyber-crime.

Yes, to some an extent, crypto currency is risky. Especially when you realized that you have to send money to a wallet and if there's any mistake in it, then the coins are lost. Also, you could easily forget the password of your wallet, and irrespective of what you have in it, then you would have lost your crypto. It comes with risky like other ventures too.

 

[Youngdee]

Well as interesting and profitable it is to invest in cryptocurrency it is also very risky and at times there are lots of fraudulent act on the platform. New investors who don’t know much about the coin can easily open an account at a fraudulent exchange and submit money to buy bitcoin but the criminals steal the money and the investor never receives the bitcoin. Also when you buy a cryptocurrency and place it in your smartphone's cryptocurrency wallet, it might be safer than taking the alternative route, which is to store it in a wallet located at an exchange. That's because exchanges Platform may be hacked and you will lose both bitcoin and the money you used to purchase it.

 

[ossai]

The risks of trading cryptocurrencies are mainly related to its volatility. They are high-risk and speculative, and it is important that you understand the risks before you start trading. They are volatile: unexpected changes in market sentiment can lead to sharp and sudden moves in price.

 

[Usman Sattar]

A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions. Much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices skyward.

Here are seven things to ask about cryptocurrency, and what to watch out for.

 

[Judee201]

Government regulations. Governments may decide to shut down Bitcoin from within their borders, but this will require coordinated actions from all Governments. Now the problem here is that Australia, Switzerland, Russia, Japan, and Canada already have policies that favor Bitcoin. Even Vanuatu is now providing citizenship in exchange for Bitcoins. It will take a lot of effort to make all of them backtrack, and the chances of this happening is slim to none. I believe the risk from this is also minimal even if Jamie Dimon thinks otherwise.

 

[Milz]

cryptocurrency is risky in so many ways, like you won't be able to see your business partner, and if anything goes wrong, your business partner can ghost on you believing that you don't know him or her because all what you guys do is online.

 

[Mrallison]

It is very risky indeed especially in trading/investment due to the fact that prices might drop and you will end up loosing also it isn't hack free although you can do your part by making your password as difficult as can be and securing it as tight as you can

 

[redpogi16]

As we are going to digital technology, cryptocurrencies will be subject to cybersecurity breaches, and may fall into the hands of hackers. But because of this securities issues they continuous upkeep of security infrastructure, but we are already seeing many players dealing with this directly, and using enhanced cybersecurity measures that go beyond those used in the traditional banking industries.

 

[abubakar3141]

The risks associated with trading cryptocurrencies are primarily linked to their volatility. They are high-risk and speculative, and before you start trading, it is crucial that you understand the risks. They are volatile: abrupt shifts in market sentiment can lead to price fluctuations that are sharp and sudden.

 

[Read cash]

It is not easy to work in cryptocurrency because the people who are sixty one do not succeed in it because in cryptocurrency we have to be active in the market and we do not know when the market will happen. Only those who know about it can do cryptocurrency

 

[Yewande]

The risks of trading cryptocurrencies are mainly related to its volatility. They are high-risk and speculative, and it is important that you understand the risks before you start trading. They are volatile: unexpected changes in market sentiment can lead to sharp and sudden moves in price. With, you can lose all your asset.

 

[Henrywrites]

Trading cryptocurrency is very risky.the industry is not regulated and the currency is not backed up by any kind of government or central bank.Even through cryptocurrencirs are designed to be theft -proof,there's still a considerable risk for fraud and cyber-crime.

Risk is in everything that we do in life. I have seen a lot of situations where people that know how to trade on crypto currencies made a lot of money doing it right. Learning how these coins can be traded is the first step to making it.

 

[Adetayo100]

The risks of trading cryptocurrencies are mainly related to its volatility. They are high-risk and speculative, and it is important that you understand the risks before you start trading. They are volatile so you expect changes in market prices.