Today Cryptocurrency is most popular or ranked in all over the world to see this many companies invest in Bitcoin or other type of coins . today we are discuss about what is cryptocurrency ? and Bitcoin .
What is Cryptocurrency ?
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
Investing in Cryptocurrency
As with any investment, before you invest in cryptocurrency, know the risks and how to spot a scam. Here are some things to watch out for as you consider your options.
No one can guarantee you'll make money
Anyone who promises you a guaranteed return or profit is likely a scammer. Just because an investment is well known or has celebrity endorsements does not mean it is good or safe. That holds true for cryptocurrency, just as it does for more traditional investments. Don’t invest money you can’t afford to lose.
Paying in Cryptocurrency
If you are thinking about using cryptocurrency to make a payment, know the important differences between paying with cryptocurrency and paying by traditional methods.
You don't have legal protection when you pay in cryptocurrency
Credit cards and debit cards have legal protections if something goes wrong. For example, if you need to dispute a purchase, your credit card company has a process to help you get your money back. Cryptocurrency payments typically are not reversible. Once you pay with cryptocurrency, you only can get your money back if the seller sends it back.
Before you buy something with cryptocurrency, know a seller’s reputation, where the seller is located, and how to contact someone if there is a problem.
Refund not be in Cryptocurrency
If any one say's that if you pay in cryptocurrency and your money returned it's is totally fraud or fake truth is no money is return in cryptocurrency .
Cryptocurrency Scams
As more people get interested in cryptocurrency, scammers are finding more ways to use it. For example, scammers might offer investment and business “opportunities,” promising to double your investment or give you financial freedom.
Watch out for anyone who:
- guarantees that you’ll make money
- promises big payouts that will double your money in a short time
- promises free money in dollars or cryptocurrency
- makes claims about their company that are not clear
As your information we are Cleary declared that cryptocurrency(Bitcoin) is totally banned or illegal's in India . in case you have to pay huge amount in this share market or your money has been dumped you have to responsible for that .
If you have more knowledge about cryptocurrency so you can share with me if you want .
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2 Comments
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