Topic: What kind of risks do you face with your cryptocurrency? (Read 204 times)
Once i bought a huge amount of xrp and hoped that it would bring profit. But now i understand that ripple is garbage and i had a risk to lose it all
The tokens that I use have liquidity issues. For instance, Bitcoin, Ripple and other altcoins face liquidity issues. But, Ydentity can help you protect identity by creating a risk-identity token which can help you with surfing the web without revealing your identity.
Tell me what other issues are you facing and what can be done for the same?
Tell me what other issues are you facing and what can be done for the same?
Risks of getting scammed and losing all your money. Those are the top two most problematic issues in the current market. I wish these two would be resolved. Well at the very least, scammers should all go to hell and die.
The most common risk I take into account when dealing with crypto currency is hacking. I have a very strong fear that all of my hard-earned money will be stolen by some hackers. I would greatly appreciate a coin that could guarantee 100% protection.
The problem with my encryption is that it cannot be recognized as legitimate by the state. My country bans bitcoin transactions. That's the only thing I'm worried about right now.
Mostly it is just that there is not a lot of places that I can spend my cryptos without having to convert it to fiat currency first. We need more stores that accept cryptos so we can use it more as a currency. Also there is also the fact that wallets are always at risked of being hacked and me losing my coins to hackers.
Acceptance of crypto currencies has been an issue for quite long. There are very few countries in the world that accept crypto currencies and have declared them as legal tender. Most of the countries don’t consider it as a legal tender or have banned it or not taken any action against crypto currencies. Mass adoption is still a long way for crypto world and its coins. Rules and regulations of various countries are also affecting growth of crypto currencies. Converting crypto assets to fiat currency is really difficult in many parts of the world. And yet there is also risk of being hacked or attacked by virus, etc. 
The tokens that I use have liquidity issues. For instance, Bitcoin, Ripple and other altcoins face liquidity issues. But, Ydentity can help you protect identity by creating a risk-identity token which can help you with surfing the web without revealing your identity.
Tell me what other issues are you facing and what can be done for the same?
Risks are a lot of this and hackers and the fact that little crypto currency is spread around the world and you either need to look for a trusted person or use exchanges, which is also not convenient. And the beginning of this year has shown everyone how much you can lose. So you need to make a lot of effort to go into profit for yourself. Tell me what other issues are you facing and what can be done for the same?
The risk I faced on cryptocurrency when I hacked my wallet and get my important tokens I am protecting for my future. I did not pass my private key as my wallet address on the projects I joined and I do not involve on a phishing site because I think if they know my private key will consume all my token to be transferred on their wallet and no one will be on my wallets. I heard another new again that there are a lot of hackers are trying to steal coins from individual wallets. How we can make a solution for this.
Hackers have been the major concern in the crypto market not only for people, but also for government that is trying to protect people hard earned money. Virtual currencies have technical advantage as well as disadvantage. Virtual currencies face security issue and are much more open to thefts and online scams and hacks. That is a common risk faced by every person that has invested in crypto currency and doesn’t hold his/her private keys to the wallet. It can be reduced by using paper wallets and hardware wallet for storing cryptos and not sharing private keys with anyone.
1 risk of hacking coins from my wallet or exchange.
2 risk because of ban/ illegal in some countries.
3 risk of market value, some times market fall so badly.
4 risk at the time of transferring the coins.
however i enjoy to work in crypto as there is risk in each and every thing we do in our life. still i consider crypto is the best and less risky way to earn money.
as we can control over all above points except the legalization of cryto.
2 risk because of ban/ illegal in some countries.
3 risk of market value, some times market fall so badly.
4 risk at the time of transferring the coins.
however i enjoy to work in crypto as there is risk in each and every thing we do in our life. still i consider crypto is the best and less risky way to earn money.
as we can control over all above points except the legalization of cryto.
although the cryptocurrency is risky but we must understand that where there is high risk, we have high reward. the risk i face right now is the policy of the government;the fear of them coming up with a policy that may not favour the business.
That's one of the risks I'm still thinking about government policy on cryptocurrency. For my personal risk I face with cryptocurrency is very easy that is the price up and down its a coin. Because we never know which altcoin will rise in price and which altcoin will go down later. it is my personal risk with cryptocurrency.it has become commonplace, after all any time there is always a party that supports cryptocurrency and blockchain, even those who have said that crypto is a fraud, now has changed the way. for the government we know that it is not easy to convince them because it is no longer a private or corporate issue.
Honestly, I don't have that kind of risks that you mention. I trust INS and SMT and I think they are worth holding in the future and they can still become profitable. The only thing that I am worried about is my wallet getting hacked by some crypto hacker.
When it comes to crypto we all know that it's really risky so it's just the matter of how you dealt with it. For you to face it, you must be ready and understand all the risks just like the ups and downs of price.
There are a lot of risks when it comes to crypto-currencies in general, if we are talking about ICO for example, then the risks are definitely in scammers and in people who can simply steal all the money, I also think that many people understand what trading is and understand the risks of trading.
The tokens that I use have liquidity issues. For instance, Bitcoin, Ripple and other altcoins face liquidity issues. But, Ydentity can help you protect identity by creating a risk-identity token which can help you with surfing the web without revealing your identity.
Tell me what other issues are you facing and what can be done for the same?
Tell me what other issues are you facing and what can be done for the same?
I don't think bitcoin and ripple face liquidity issues, depending on how much you want to purchase. Are you trading with tens of millions of USD? Otherwise you can't feel those problems
although the cryptocurrency is risky but we must understand that where there is high risk, we have high reward. the risk i face right now is the policy of the government;the fear of them coming up with a policy that may not favour the business.
That's one of the risks I'm still thinking about government policy on cryptocurrency. For my personal risk I face with cryptocurrency is very easy that is the price up and down its a coin. Because we never know which altcoin will rise in price and which altcoin will go down later. it is my personal risk with cryptocurrency.
although the cryptocurrency is risky but we must understand that where there is high risk, we have high reward. the risk i face right now is the policy of the government;the fear of them coming up with a policy that may not favour the business.
The tokens that I use have liquidity issues. For instance, Bitcoin, Ripple and other altcoins face liquidity issues. But, Ydentity can help you protect identity by creating a risk-identity token which can help you with surfing the web without revealing your identity.
Tell me what other issues are you facing and what can be done for the same?
Well what? You are saying that ripple has liquidity issue? Let me inform you that ripple is one of the most liquid crypto currencies in the whole crypto market. It converts one fiat currency to another fiat currency in just matter of seconds and solves financial problems of banks and financial institutions. Tell me what other issues are you facing and what can be done for the same?
I have had liquidity problem with BTC and ETH, but ripple is smooth as ice. I would recommend you to do research on ripple and its utility, liquidity and scalability. And I don’t really face any risk with respect to crypto currencies.
risk is very common and it has be part of crypto currency what only gave me concern most is that you won't know when the price will fall and rise
Yes, many coins available in the market has liquidity issues. I heard of Ydenitity, but I have never used it. It's quite disturbing that many coins reveal your true identity while surfing.
High volatility - to reduce this risk, buy good cryptocurrencies with large marketcap.
Hackers - to reduce this risk, buy a hardwallet
Lose coins , lose privatekey, seed - be careful and educate yourself.
Hackers - to reduce this risk, buy a hardwallet
Lose coins , lose privatekey, seed - be careful and educate yourself.
The biggest risk for me is while transferring cryptocurrency, as wallets are long and complex and no one can remember a wallet address even if we send there regularly, so even a mistake of one digit can result in loss of our crypto asset, i think this thing needs to be simplified.
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