Worried About Cryptocurrency Scams? Here's How To Protect Your Investments
NDTV
If the online crypto industry is attracting new users at an unprecedented rate, the number of hacking incidents is bound to increase in the days and weeks ahead, warn industry experts
The rise of cryptocurrency has opened up the possibility for hackers to exploit loopholes in blockchain and scam millions of users worldwide. If the online crypto industry is attracting new users at an unprecedented rate, the number of hacking incidents is bound to increase in the days and weeks ahead, warn industry experts. Already some estimate that more than $650 million has been targeted in major cryptocurrency thefts, hacks, and fraud between January and July this year. Many more are yet to be reported because of a variety of reasons, including a lack of proper understanding of the technology.
Like any industry, cryptocurrency too is not immune to thefts and scams. However, experts recommend investors that they fully understand the risks involved while trading in these digital assets. The best a trader can do to protect their investments is to make themselves aware of the potential pitfalls and common mistakes others have made.
Here are a few tips:
1) Research thoroughly
