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Risks of investing in Bitcoin and other Cryptocurrencies


Cryptocurrencies you should invest in - Since Cryptocurrencies are still new, there is no government involvement and therefore no FDIC is insured. So, essentially, if your account is hacked, there is no guarantee of a refund. Not long ago, this happened to MtGox. They lost $ 474 million ($ 474 million) in Bitcoin, and investors have no right to claim back their own money. GtGox is the largest exchange and has been hacked. Therefore, those who invest in Bitcoin should pay attention to this cautionary tale and don't spend their life savings on Bitcoin.

Why choose Kucoin?

  I suggest Kucoin for multiple reasons, here are a few reasons:

  There are a wide variety of digital currencies to choose from.

  Quick deposit / withdrawal.

  A large platform with good security.

Transaction fees are among the lowest in the industry.

  Minimize the risk of hacking

  Hacking your personal account is definitely risky. To minimize this situation, take the following precautions:


Use Google Authenticator for all your cryptocurrency accounts. You can download the application on your phone. The number changes every minute and you need to enter it to log in to your account. It adds an extra layer of protection.

  Have a long password and change it often.

  If you just want to invest in Bitcoin, keep your Bitcoin in Kucoin (instead of transferring it elsewhere). They are backed by a large amount of venture capital funding and have built an advanced platform that minimizes the risk of your Bitcoin being stolen.

  If you want maximum protection, you can also keep Bitcoin offline, perhaps on a USB drive that you carry with you.
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