5 WAYS TO LOSE MONEY IN CRYPTOCURRENCY

Bitcoin Price Drops

S Korean Exchange Gives Up 30% of Coins in Hack June 10, 2018

Coinrail announced that it had lost 30% of its total value of coins in trade.

It moved its remaining coins into  “cold storage” which is disconnected from the Internet.

The stolen coins are valued at $37.1 million and has helped drive the price of Bitcoin to $6627

Bitcoin - Making a Million

 

Security is always a concern in the modern world and nowhere more so than in the cryptocurrency arena.

We are already seeing multiple ways to lose your money in the crypto field.

5 WAYS TO LOSE MONEY IN CRYPTOCURRENCY

1. Your Exchange gets HACKED.  This happens regularly.

List of Cryptocurrency Exchange Hacks

Solution : Only deal with REPUTABLE Exchanges

You LOSE

2. You fall victim to an ICO SCAM.  This happens quite frequently.

Buyer Beware.  Make sure you check out the the offer thoroughly.

You LOSE

3. You LOSE your WALLET KEY.

You lose access to your cryptocurrency

This happens frequently.

Make sure you store your keys where you will be able to retrieve them.

HERE is HOW your WALLET KEY can be STOLEN

You LOSE

4. At GUNPOINT

Now that people have millions of dollars in cryptocurrency in accounts

Robberies at Gunpoint have taken place for cryptocurrency

 

Glock 17
Glock 17

 

You LOSE

 

5. BITCOIN PRICE DROPS

You LOSE if you hold Bitcoin and this can affect the whole cryptocurrency index.

You LOSE

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