Tread carefully when investing in cryptocurrencies
Companies that issue tokens are not (yet) as stringently regulated as those that publicly issue shares, which means the average consumer who holds a token does not have legal recourse if the creator of the token goes bust
With cryptocurrencies being all the rage, you might be toying with the idea of investing in one, especially if it's a local cryptocurrency. Before you do, read this. First, do you know what a cryptocurrency is? The golden rule of investing is that you must understand the investment and the associated risks. Deconstructing the word shows that it is has to do with cryptography and currency/money. Cryptography is the science of encrypting sensitive information so that it is undecipherable to anyone that should not have access to it. Cryptocurrencies are therefore intended to be a secure form of digital money that cannot be counterfeited like cash or gold. Unfortunately, many cryptocurrencies are not as secure as they ought to be. When you log in to your banking app or use internet banking to view your account balances or make a payment, all the previous payment transactions you see are electronic records that are stored in the database owned and secured by your bank. In the case of cry...
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