• Please note to have a link in an article you must first request permission from the administrator and pay a fee. You can read more information here.

Why cryptocurrency is dangerous?

  • Thread starter Thread starter Yaqoob Habib
  • Start date Start date
By no means are cryptocurrencies the only asset to be hacked by thieves, but there are serious fraud and theft concerns that accompany bitcoin. For instance, novice bitcoin investors may not understand the need to store their tokens in a digital wallet, thereby leaving them susceptible to theft by hackers
 
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
 
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. It is not uncommon for the value of cryptocurrencies to quickly drop by hundreds, if not thousands of dollars.
 
Well to my knowledge cryptocurrency isn't has dangerous as people think it is so far you don't take unnecessary risk and unprofitable risk because as interesting and profitable it is so also is the other side.... Meaning if one is not careful someone hard earned money can all be gone in a twinkle of an eye, so I would strongly suggest before you invest in crypto make sure to learn the fundamentals before any trading....
 
Because there is absolutely nothing backing them up except the faith that they're worth something. There's little to no government regulations on them. And if you make a purchase with them you've lost your money if you made a purchase from a crook! And there's always the chance that the person that has built the cryptocurrency has done so in order to steal everybody's money.
 
There is a reason why cryptocurrencies were created. One of them is to make online transactions smooth. There is nothing wrong with crypto. The bad ones are the people behind the fraud who use crypto to cheat. In general, nothing is bad, only people and processes really make things worse.
 
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.
 
It's not really any difference from fiat or cash we have. If you're not careful on where you're storing your money it might get taken away by other people. Ofcourse there's hacking which is why you need to pick a wallet with a good security and for frauds just don't be naive nobody will give you 1 BTC for sending them 0.0005 satoshis.
 
Trading in crytocurrency is dangerous because government can't come to your aid when you lose because it's not regulated by government and the price rate can drop and increase at anytime
Trading in crytocurrency is also risky because there are many scammers trying to scam you.
 
Cryptocurrency trading is quite risky because of its volatility and instability. But this is not limited to just cryptocurrency. Every investment comes with its risks. You just have to draw the lines when you are about to run into debt.
 
As you probably know already, cryptocurrency is a completely decentralized asset. Therefore, there is no central authority to govern and control the market. However, while this feature attracts many businesses, it chases away many people. This is due to the fact that there are no regulations to follow in any kind of situation or dispute.
 
Yaqoob Habib said:
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.
Click to expand...
Let me ask you a question. How do you receive or withdraw your money from this platform ever since you started using the platform? Do you know how many people have legitimately become millionaires since the Advent of cryptocurrency?
 
Cryptocurrency is very risk because it is not been control by anyone and which mean when there is any issue you can't complain to anyone about it. In other words one has to be very careful when transferring from one wallet to another.
 
Why do you think crypto currency is dangerous? Crypto currency has the power to make any Tim, Dick and Harry rich. Crypto currencies have created new billionaires in the past 4-5 years.
 
I think the reason why crypto currency is dangerous is because it is not regulated or back up by many government but that does not mean someone can not invest or trade it.
 
Yaqoob Habib said:
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.
Click to expand...
Indeed cryptocurrency trading is a very risky thing. It's either you will become rich or broke overnight. I think the risk there is when you trade in a coin where there is a pump and dump. Big whale investors can make the price high in split seconds. If you are not careful when the price suddenly goes down and you have not exited then your money is eaten up already.
 
Yeah its true, cryptocurrency is subjected to market risks , since it is completely decentralized and no control of government of any country. So we should always invest in crypto what we can afford to lose.
 
The volatile nature of cryptos is what makes it dangerous. A coin can lose 99 percent value in minutes and that's bad if you're a holder of the coin. Not forgetting scammers rigging a coin to the detriment of investors.
 
The logic that crypto currency will be used for crime is wrong because crime occurred even before bitcoin was launched. I think crypto currency is good for the people.
 
Yaqoob Habib said:
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.
Click to expand...
Yea, exactly. Trading cryptocurrency is very risky because in a scenario of scam, the individual that scammed can not be traced unlike in the bank. And another thing is that crypto trading is a business that if you really know your ways you can become a multi millionaire within a year .
The choice is one's to chose.
 
You must log in or register to reply here.
Back
Top