From Volatility to Fraud, Is Investing in Cryptocurrency Just Too Risky?
The tales of riches being won are mostly too good to be true.
In the wake of the 450% gain Bitcoin (CRYPTO: BTC) has logged since late 2022, it's not a stretch to suggest that plenty of investors are kicking themselves for not buying into (literally and figuratively) the cryptocurrency movement. Even without understanding what they're worth or how they're valued, clearly at least a few people are getting very, very rich off of digital currencies.
Just don't beat yourself up too much if you're one of the millions of people who missed out. You're hearing about the big wins, but you're not hearing about all the horror stories or the brewing risk.
The crypto idea and underlying technology clearly have their merits. Most monetary transactions are already digitized in one form or another. Crypto's underlying blockchain -- a cryptocurrency's digital ledger that records and secures its own transfers -- just sidesteps the need for a centralized clearinghouse to facilitate these purchases. Such ledgers could theoretically even eliminate fraudulent transactions using conventional currency.
