[size=36]How to protect yourself from fraud when buying cryptocurrency?[/size]
The cryptocurrency is a digital currency that can be used to purchase goods and services, but it uses an online ledger with strong encryption to secure online transactions, and perhaps a lot of interest in these unregulated currencies produces trading for profit, as speculators pay prices in some One of the most common currencies is Bitcoin, but before you think about buying these currencies, you need to know some things to protect yourself from fraud or theft.
You should first ask:
- Who owns the company you want to buy from? A well-known owner is a positive sign.
Are there other major investors investing in it? It's a good sign if other popular investors want a piece of the currency.
Will you own a share in the company or just a currency? This distinction is important, as owning a stake means that you can share in its profits, while buying tokens in general simply means that you are entitled to use them.
Is the currency already developed, or is the company looking to raise funds to develop it? The closer you are to the final product, the less dangerous it is.
Examining the prospectus can take a lot of work, the more details, the better your chances, but even if the coin is real and the company is known it doesn't mean the coin will work, this is an entirely separate question, and requires a lot of market knowledge.
Besides these concerns, just owning a cryptocurrency puts you at risk of theft, as hackers try to break into the computer networks that keep your assets. A high-profile exchange declared bankruptcy in 2014 after hackers stole hundreds of millions of dollars in bitcoins, so you have to protect yourself. Well through safe sources of currency and trust dealings with others and verify them. Ended 29/A 4