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Why is crypto called the safest currency?

skrimon

Well-known member
"There are many subjects you need to understand before calling it the safest currency system.

Despite its decentralized nature, transactions on most cryptocurrency networks are very secure — as long as crypto users take precautions. The underlying blockchain technology is inherently secure.

Crypto can be purchased, stored, and used safely — so long as the user follows best practices (see the section “How to Invest in Crypto Safely” below).

And following those same precautions, crypto can be invested safely.

However, when it comes to investing, most experts recommend that crypto be kept at a relatively small percentage of your invested assets.

In other words, it’s safe to invest in cryptocurrency — but you shouldn’t only invest in crypto.

Experts recommend building a diversified portfolio of stocks, bonds, ETFs, real estate, and cryptocurrency.

And, of course, no investment is guaranteed.

As we saw in the 2008 market crash, even seemingly safe investments like real estate and stock index funds are prone to market crashes. Crypto is no different.

Thanks!"
 

Polakandil

Well-known member
No, crypto is not the safest currency, this is risky, and high volatility price makes so many speculators join in the crypto market and lead the price ups and down, on this month you can see major crypto drops, and some investors worry Bitcoin drops in long contraction, should understand with risk tolerance when investing or trading in crypto spot market or CFD. The Crypto market is connected to the financial market, when global conditions crash, it could influence the crypto market.
 

WalletInvestor

Well-known member
I wouldn't say crypto is the safest currency, either. In theory, blockchain technology offers a lot of security features that you don't have when using traditional contracts or a middle man. However, nowadays that anyone can create a cryptocurrency and most of the market is not regulated, there are a lot of worthless currencies and even scams, and you don't have much opportunity for recourse if something happens to your money.
I'm not trying to diss cryptos here, I believe they provide great earning potential and are very versatile. But it is also the market that requires the most caution and research if you want to stay safe.
 

Polakandil

Well-known member
Besides risk due to volatility market, another risk is about hacking, there are some exchangers get experience hacking crypto and losing big funds because of security breaches, recently there are many investors in LUNA get bankruptcy, just like a magic LUNA could make a Lamborghini become Tamiya because the price drops more than 90%
 

diabolique

Active member
Crypto is not the safest currency; it is dangerous, and its extreme volatility and required close study. Traders should be careful in picking and trading cryptos.
 

Statoscope

Active member
Crypto is the best form of money that has ever existed. It's safe, private, anonymous, decentralized, and secure. There are no banks, governments, or middlemen involved. Crypto is the future of money!
 
Well, I can’t say that cryptocurrencies are the safest currencies. But I can say that they have a future and are here to stay in the market for a long run. But they are quite volatile and only a trader with a good risk appetite will be able to handle the tantrums of the market to make money.
 
Cryptocurrency is the most advanced form of currency yet devised. It is secure, private, anonymous, and decentralised. There are no banks, governments, or intermediaries involved in this transaction. But they can’t be referred to as the safest currency as the cryptocurrency market is highly volatile and one must have high risk tolerance.
 
Despite its decentralised nature, transactions on most cryptocurrency networks are very secure — as long as crypto users take precautions. The underlying blockchain technology is inherently secure and this makes crypto the safest currency.
 

Canoodle

Member
Not really. If you had seen the current market situation, you would have never said that. Cryptos seem to be the riskiest currency at the moment and if you don’t have a plan to follow, you better stay away from them for some time.
 

Verves

Member
I cannot say with certainty whether crypto is the safest currency or not. They do have certain benefits and advantages over fiat, like decentralisation, blockchain technology, cryptography, etc.
But they are volatile and highly unpredictable. They are not regulated by governments, unlike fiat. Cryptocurrencies are prone to human errors and technical glitches. There might be risks related to hard forks or discontinuation of crypto. Therefore, it becomes crucial to know the risks involved in the crypto market. I think only those who can take risks should consider crypto. Those who are highly risk-averse should avoid it at all costs.
 

skiascope

Active member
I am just curious to know who thinks that cryptocurrencies are safe to trade when I know that they are the most volatile coins in the financial markets. Just be careful before you set any trading expectations.
 

Implumou

Member
Despite its decentralised nature, transactions on most cryptocurrency networks are very secure — as long as crypto users take precautions. The underlying blockchain technology is inherently secure and this makes crypto the safest currency.

You're wrong, sir. Cryptocurrencies aren't the safest money ever. The price of cryptocurrencies fluctuates wildly and frequently, making them a dangerous investment.
And CBDC lacks blockchain technology and in my opinion governments won’t allow it.
 

WalletInvestor

Well-known member
Cryptocurrency is the most advanced form of currency yet devised. It is secure, private, anonymous, and decentralised. There are no banks, governments, or intermediaries involved in this transaction. But they can’t be referred to as the safest currency as the cryptocurrency market is highly volatile and one must have high risk tolerance.

Definitely. And aside from risk tolerance, risk management strategies are also key, so we can mitigate losses, especially in trading.
 

Wavemeter

Active member
Quite the opposite, it is one of the most volatile currencies. It’s still a new market that is developing. But it is worth investing, if you do with proper research and planning.
 
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