Topic: Is Crypto safe - page 2. (Read 211 times)

If you're asking us if you should invest or not, then it means you definitely don't know enough to make educated decisions when it comes to investing in general. If you want to invest seriously, you're going to need to do a lot of studying; and if you don't want to study, just give up investing in general.

P.S. "risky" is subjective.


* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters

Sifting through to pick out good coins with potential out of a whole bunch is a huge task. There are thousands of altcoins with majority turning out not to be profitable in the long run.
Sticking to BTC is a safer option, to taking a gamble with altcoins. This is my personal opinion.

The comment above yours mentioned forms of diversification like real estate, gold, stocks, which are much preferable to altcoins if done right.

- Jay -

Altcoins not safe. Maybe partly agreed. Yes there are plenty of altcoins that arent safe but dont generalize it all. There are some also that are good and has potential. I agree that btc is good for long term but you cant ignore other projects that are also has good use case and potential. Its just that you need to be very careful cause some are really money scum bag only.

Crypto or altcoins or shitcoins aren't safe and shouldn't be used for long term holding. Bitcoin is the best crypto to hold for long time since it has been proven can survive for 13 years until now.

You shouldn't invest all of your money in Bitcoin, diversify to other assets e.g. gold, real estate, stock etc is better to reduce the risk.

How can someone giving his own private key to other person is called as hacking? I don't think there's a wallet can be hacked because it's secured with cryptography and BIP39 that would make anyone really hard to guess the correct combination of 12 or 24 words.

If you're talking about custodial wallet e.g. exchange, no one should hold their coins for long time using custodial wallet in the first place.

I will add to the previous post that this kind of investments are risky, hence you should invest only money you afford to lose or have locked in the investment for long time.

In my experience with Bitcoin, while the price did recover sooner or later, there were long periods the price was low and the news were depressing; I expect many did sell in such times and if you are one of those getting easily scared by that you better not invest. Even more, investing in bitcoin makes sense only if you plan to leave your coins untouched for 3, 4 or even 5 years, at least. Of course, financial emergencies tend to occur when Bitcoin price is also far from great. So you have to have a good plan.

Adding to this the risks the previous post wrote, it's not easy to invest into Bitcoin.

Now... you wrote "crypto". Many Bitcoiners will say that you may want to invest in whatever altcoin. Altcoins are way more risky than Bitcoin and I don't have a good rule for them to see profit. In my experience altcoin investments are a losing scenario on long term. Maybe on short or medium term some got nice profits, but I don't recommend altcoins at all.

So, altcoins are a no, and Bitcoin is also something that must be weighted carefully. Then you decide for yourself whether you should invest or not. Good luck!

Hi! You should know that an investor faces a number of risks, among which the most serious are:
- The risk of hacking the wallet, as well as fraud, in which the user himself gives the code that gives access to his cryptocurrency.
- The risk of sites where transactions are concluded, including technical failures, as well as deception of exchanges and brokers.
- The risk of changing legislation, which can both prohibit the use of cryptocurrencies, and simply bring down quotes.

I recommend studying additional information (there is a lot of it on the Internet) before investing serious amounts in cryptocurrency. There are also many experienced people on this forum who will be able to help you with valuable advice. You did the right thing by writing here

Hello community,
plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto