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Mistakes you should keep away from when investing in digital currencies

2019-01-21 10:47 am | Resource: Crypto Section | No Views : 287

Mistakes you should keep away from when investing in digital currencies Digital currencies are ultimately money, whether they are money, financial assets, or even financial value. This is something we all agree on. Money exists. Fraud is there. It exists for thousands of years, and government financial institutions, banks, This can be accomplished through a number of methods, including paper bills, watermark loading, mathematical sequence, hologram tapes, but considering the digital currency, it is not characterized by these problems, because of its security algorithm, but this is beyond the scope of fraud, it exists very much.
Today, we are talking about the three most common errors that investors make when trading or trading digital currencies. PC owners often assume that they are insured against fraud. Digital currencies are a new way to invest and participate in the economy. This costs a lot of effort and Necessary with traditional currencies, and you have to be sure dear that as long as the subject entered the context of the article "money", make sure that it must be exposed to fraud attacks.
Many digital currency wallets exist on trading exchanges such as CoinCheck, Bitfinex, or Poloniex. These exchanges offer ease of use, but internal protection is not always what users might want.
What is not immediately apparent to beginners in investing in digital currencies is the variety of wallets available. Although all wallets share the same purpose (storing your digital currency), their forms can vary widely, some on the Internet, Some programs, some hardware or even parts of paper, although you've invested a lot and wherever you keep your camera independent, you have to be careful to avoid the most common investment mistakes.
We now go on to talk at length about the three most common mistakes a digital currency investor can make when investing, as follows:

Treat digital currency exchanges as banks

The name of Mt. Gox, when he mentioned it to digital investors, was disturbed by the fact that it was one of the inches of digital currency trading that had declared bankruptcy because of its penetration in 2011, costing it a loss of 750,000 Bitcoin (BTC) A breakthrough, the most famous of which is the Japanese stock exchange, has led to the emergence of a controversial strategy to socialize losses across the user base of subsequent stock exchanges, but certainly improved security throughout the industry, but investors should take measures to secure their property permanently.
digital currency exchange
As the InfoSec Institute wrote last year, there are still weaknesses. Unfortunately, many digital investors treat digital exchange exchanges as if they were banks, although stock exchanges do not provide binding consumer protection to banks. At the corporate level, US Federal Deposit Insurance Individual investors lose their money even if their bank is suffering from a financial disaster and fails, individually, if a bank or credit card company finds that a user's account has been compromised, it will recover any money spent fraudulently. Currency exchange figures Its had not taken it.

Neglecting digital currency taxes

Although most digital currency cases do not have a government affiliation, investors often assume that governments do not care about the profits of that industry. Stock exchanges have begun to provide tax guidance to the largest investors, but the vast majority of anonymous investors should not expect a model 1099-K Automatic in the Inbox.
digital currency taxes
In the United States at least, the tax situation of digital currencies remains somewhat ambiguous, with the Internal Revenue Service issuing a rather vague announcement, but tax experts agree that investors should track their currency movements, date of acquisition, and price paid, , Received the amount, although the rules issued in 2014 are still "preliminary", but they have already been applied.
Many European countries have begun to collect taxes on digital currency profits, so dear, you should not lose sight of paying the tax on profits in this area if that is your country.

Loss of digital currency wallets

You should keep your coin purse at least as much as guarding your money.
Let's say you pulled all your life savings out of the bank and put them in a bag in your basement. You'll start to worry about telling the mice that the mice will get to that bag and start to shred them and cut the money. Your money, now burning, is the same with the digital currencies, the digital currency wallets is very important and must always be kept.
Digital paper pads, although their offline nature protects them from intruders, do not offer similar protection against their destruction. Suppose your paper wallet is folded and adjusted until your own key numbers begin to corrode. Imagine that part of it becomes wet. Or six characters: you've lost what's stored there, and of course, if you've lost your paper wallet, you can not go beyond hope of finding it again, and by 2017, about 4 million Bitcoin has disappeared from circulation.
digital currency wallets
As digital currencies move in the mainstream, we can expect some rules to change in the digital currency. Consumer protection regulations may enter books. Digital currencies may receive their own tax forms, and holdings management in particular may become less intimidating.
Technological advances have already increased ease of use; "cold wallets", for example, combine wallets security with the durability they have always lacked, while also allowing increased liquidity. As we move forward with the second decade of digital currencies, there are many innovations in this area, near the corner of the investigation and success, the inventors of digital currencies or anything related to it, to continue the process of innovation, and complete research that will go this far .
You have to invest in this field and believe in it, and you must also learn from your previous mistakes and mistakes of others as well, so that you do not fall into it. Start by understanding this market so that you are sure that you are now able to invest in it in its various forms. Whether in trading, buying or selling, or even buying and keeping the currency until some time, reading dear will enable you to stay away from mistakes, or you are easy prey to fraudsters who are in this area.
Major financial institutions and governments are already beginning to pay attention to digital currencies and will sooner or later rely on digital currencies because of their many useful features.

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