Bitcoin, invented in 2009, has created a global market teeming with investors. Since cryptocurrencies are getting more valuable, hackers and scammers are getting more interested in them.
The bitcoin market has been hit by global volatility recently, but El Salvador passed a new Bitcoin law, Evergrande happened, and China promoted its cryptocurrency with fear and uncertainty. As an investor, you’re concerned about the number of checks and balances in place. The key is always to keep your digital currency under your control to avoid Crypto Fraud.
Becoming a ‘hard target’ will make your digital currency less appealing to hackers. Having no global crypto regulation has its advantages and disadvantages. Crypto has innovated so fast because of it, but security hasn’t been standardized. You’re responsible for managing it as a user. So, you can take some steps to keep your cryptocurrency safe, including crypto-age precautions.
Here’s how to keep thieves, hackers, fraudsters, and scammers out:
The bitcoin market has been hit by global volatility recently, but El Salvador passed a new Bitcoin law, Evergrande happened, and China promoted its cryptocurrency with fear and uncertainty. As an investor, you’re concerned about the number of checks and balances in place. The key is always to keep your digital currency under your control to avoid Crypto Fraud.
Becoming a ‘hard target’ will make your digital currency less appealing to hackers. Having no global crypto regulation has its advantages and disadvantages. Crypto has innovated so fast because of it, but security hasn’t been standardized. You’re responsible for managing it as a user. So, you can take some steps to keep your cryptocurrency safe, including crypto-age precautions.
Here’s how to keep thieves, hackers, fraudsters, and scammers out:
- Invest in reputable, safe exchanges
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Buying and selling cryptocurrencies takes place on exchanges, just like stock trading. There are many crypto exchanges with substantial trading volumes, and there’s always more. Kraken, Gemini, Coinbase, Crypto.com, and Binance are arguably the safest and best crypto platforms. Kraken covers 99% of the world and has a devoted cybersecurity team.
Coinbase and Crypto.com are regulated by the New York Department of Financial Services, while the Federal Reserve regulates Gemini. Cryptocurrency exchanges like those above have solid cybersecurity infrastructure and store user crypto at geographically distributed, heavily monitored, and armed storage facilities.
Continue reading: https://timesofindia.indiatimes.com/blogs/voices/fear-of-fraud-here-are-five-steps-to-take-for-secure-cryptocurrency-investments/
