Trading Discussion What Are The Risks With Bitcoin?

[AfriPeeps Official]

While Bitcoin is a very exciting technology and new form of money, it doesn’t mean that there is no risk associated with it. As a starting point, it’s important to remember that the same intuitive rules that apply to traditional money also applies to Bitcoin. For example, don’t store cash under your mattress else it might get stolen, or don’t trust your money with strangers.

Bitcoin also has some fairly unique risks: for one, it’s a brand new technology, and while it appears very secure and robust, there is always a chance that it might fail. That is also a reason why you should never put ‘all your eggs in one basket’ and never buy more Bitcoin than you can afford to lose. Bitcoin is also more volatile (i.e. it can move a lot in value both up or down in a short space of time) than many other currencies, and while this appears to be stabilising over time, it’s sure to experience many highly volatile moments in the future.

What are the risks you think one needs to know about Bitcoin.

 

[btaliat]

Crypto at large is very risky an investment. It doesn't take into cognizant the fainted minds. The volatility of the coin however is not what really makes it risky. The greediness makes it risky. When the coins goes down, it is the time to buy more coins and not to sell the ones you have.

 

[Sotherefore]

Well if you are an investor in cryptocurrency then it is not risky because you'll be investing and obviously within a long period of time it will generate a reasonable profit but trading can be very risky if you don't know how to go about it especially as a newbie.

 

[Ray Martinez]

The strategy is important to be successful and make consistent profit from trading. It is better to build one yourself rather than adopting someone else trading strategy. Every trader is different and has their own trading preference. So, it isn’t granted that someone else profitable strategy will work for you. My broker Forex4you offers a demo account where I can easily build my own trading strategy.

 

[Setho]

The blockchain technology is just a new technology and a job in progress. The thing about bitcoin addresses is that they are long and once you make a mistake then your funds might be gone forever. You will also encounter problems with legalities because a lot of countries are not in support of it.

 

[Jonaville]

I believe that the risks affecting Bitcoin are the same risks affecting all other cryptocurrencies worldwide. This happens to be their volatility. You can't know if the price will appreciate or depreciate at any point in time. But then, this is where patience comes in. When you hold on to your coins, you can earn big when prices eventually goes high.

 

[Wisdom01]

The risk is that when trading you have to be more careful as the market is risky so you could both make loss and profit ,just try to make the right trade ,when you are planning on trading because of how risky the market is I think ,that's the thing you need to note