Cryptocurrency Q&A
What is scary about Bitcoin?
What is scary about Bitcoin?
Tommaso
Sun Dec 22 2024
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6 answers
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I've been hearing a lot about Bitcoin recently and I'm curious about it. But there's also a lot of talk about how risky and scary it can be. I want to know, what is really scary about Bitcoin?
6 answers
Giulia
Tue Dec 24 2024
Bitcoin trading involves six primary risks.
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Tommaso
Tue Dec 24 2024
One significant risk is the potential for cryptocurrency exchanges to be hacked. This can lead to the theft of funds and significant losses for traders.
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Sara
Tue Dec 24 2024
Another risk is the possibility of cryptocurrency exchanges disappearing or going bankrupt. This can occur due to poor management, regulatory issues, or other unforeseen circumstances.
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CryptoVanguard
Tue Dec 24 2024
Selfgox, a type of fraud where traders are tricked into transferring funds to a scammer's wallet, is also a risk in Bitcoin trading. This can happen through phishing attacks or social engineering tactics.
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Bianca
Mon Dec 23 2024
Virus infections pose another threat to Bitcoin traders. Malware can infect computers and steal sensitive information, including private keys and wallet addresses.
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