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Unspoken Risks Of Cryptocurrency Ownership

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While traditional media relatively often reports about crypto-related scams, such as  Onecoin, it is less often that you can find news about real life dangers of cryptocurrency ownership. Underlying question is: Should ordinary people leave cryptocurrency market for petty criminals? And miss the chance of their lifetime to grow with the new economy?

In contrast with Real currencies, where threat to your security is not as tangible. Financial opportunity, which can also be seen as a threat, can be seen in volatile course exchanges. But what we want to highlight here, is that with the current situation in the world, you as a current or future cryptocurrency owner, should not share publicly information about your possessions. 

Sad reality is that if you get unnecessary attention from the wrong kind of individuals, it may result in unpleasant or even lethal consequences. Due to this, it becomes paramount to be extra careful regarding your trading places, wallet providers and variety cryptocurrency area vendors you engage with. This in turn increases legitimacy, costs and prices of most trusted platforms. On another hand it creates barriers of entry to new coins, vendors and cryptocurrency players to gain ground on this emerging market.

 Where do we refer to with these warnings? Consider these

 1. Finnish Cryptocurrency owner hiding after he bought Estonian mansion that burned down

2. Dutch cryptotrader tortured with heavy drill in violent cryptocurrency robbery

3. Norwegian bitcoin millionaire jumps off balcony after being threatened with shotgun

Above kind of horror stories repeat in the cryptoworld, and therefore we recommend all our readers to extreme caution. Of course, with traditional currencies you can lose minor money at robberies close to money exchange stores at touristy locations for instance. Other kinds of currency crimes may happen in money laundering or even in some fund trading, but in those cases we usually can find that the amounts were too high for common citizens to reach. This is the beauty of the cryptoworld and reason why it attracts crime. It has a “promise” for less well-off to become wealthy , which would otherwise be never possible.

Regardless from what angle we look at the matter, the fact remains that cryptocurrency movement has lasted already long over hype curve. Technology around it is here to stay, especially when it relates to widely spread blockchain. Individuals who do not get involved in a way or another risk to lose the opportunity to benefit from rising alternative economy, while traditional asset classes are overpriced reaching all-time-highs. 

To summarize, Fyggex, does not give any guidance, advice or recommendations to neither invest or not in any available cryptocurrency directly or indirectly via any trading platform, exchange or provider. Our sole purpose is to make you aware of the related real or potential risks so that you can make your own research prior to any financial decisions you may want to take. Past performance and position are not a guarantee of risk-free future returns. 

Sources:

www.cnn.com
www.talouselama.fi
www.Independent.co.uk

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