Bitcoin Price Drops
S Korean Exchange Gives Up 30% of Coins in Hack June 10, 2018
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
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
2. You fall victim to an ICO SCAM. This happens quite frequently.
Buyer Beware. Make sure you check out the the offer thoroughly.
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.
4. At GUNPOINT
Now that people have millions of dollars in cryptocurrency in accounts
5. BITCOIN PRICE DROPS
You LOSE if you hold Bitcoin and this can affect the whole cryptocurrency index.