Some of the drops have been caused by a combination of factors, Noble theorizes, from excitement about low-quality coins, to negative remarks from Elon Musk, to China’s recent crackdown on crypto services . This mix of factors has potential to make sell-offs “all the more violent,” says Noble.
Read moreCan you get scammed on Bitcoin?
Scammers will often work from any angle or take however much time they need to gain the trust of a potential victim so that they reveal key information or send money to the scammer’s digital wallet. When one of these trusted connections demands cryptocurrency for any reason, it can often be a sign of a scam .
Read moreIs Bitcoin safe and legal?
Is bitcoin legal in India? As earlier discussed, bitcoin, as a medium of payment, has neither been authorized nor been regulated by any central authority in India . Further, no set rules, regulations or guidelines have been laid down for resolving disputes that could arise while dealing with bitcoins.
Read moreWhat are the disadvantages of Bitcoin?
5 disadvantages of cryptocurrency
Read moreAre Bitcoins safe?
While Bitcoin technology is pretty safe , there are some risks to consider before you make an investment. Bitcoin isn’t anonymous, the price of cryptocurrencies can be extremely volatile, Bitcoin relies on passwords, and cryptocurrency wallets are not immune to theft.
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