Uncontrolled cryptocurrencies: should we be concerned?

One of the main pluses of cryptocurrency is that it can’t be controlled by literally any legal entity. It sounds like a good news until you realize the downside of such freedom. Crypto-thieves are taking advantage of such way of things on crypto market and do whatever they can to part decent users with their coins.

Scam crypto exchanges are among the most popular means of fooling people. While ICOs can be controlled by the government, most of the exchanges are not. Thus, creating a brand new exchange, getting some public attention and shutting down the platform with people’s money is a piece of cake for sophisticated criminals. This means you should always take certain safety measures when choosing a trading platform. Check the black list of exchanges, read the reviews on crypto-related blogs and websites and, of course, check the exchange’s registration. Binapex, is a platform you can entirely trust. Apart from having all the needed registration documents, Binapex offers all the most popular cryptocurrencies for regular and margin trading with a leverage of up to x10.

Another reason for concern is Bitcoin’s anonymity. Yes, all the transactions are recorded in the Blockchain, but they contain only the amount transferred and public keys, whereas the sender and recipient remain unknown. Plus, blockchain is irreversible. Once you sent money, you can’t reverse the transaction.

Crypto market is tough and dangerous, especially for unexperienced investors. We highly recommend to read about all possible dangers of this industry carefully before investing.

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