Owning Bitcoins and other cryptocurrencies aren’t quite the Wild West adventure it was at the start of the decade, however, investors still face a lot of risk and instability. The hacking and the threats aren’t just in theory or abstract, the truth is that new scams are popping up every day and we should be prepared for absolutely everything.
Whether it is a fake Bitcoin wallet set up to trick its users, fake cryptocurrency schemes or a phishing attempt to hack and steal private keys, there is something to watch out and be careful at every turn.
Bitcoins, Ethereum, Litecoin, and other cryptocurrencies can feel secure as they usually anonymize and decentralize online transactions. They also confirm everything on public blockchains. However, those measures don’t really make Bitcoins and other cryptocurrencies less susceptible to the time-honored and simple scams.
You can’t expect your investment or your Bitcoins and Bitcoin wallet to be safe forever, without doing anything. You need to find a way to protect your investment or be ready when a certain problem arises.