What are the Real Risks of Crypto?

[rricksu]

What do you guys think are the real risks of cryptocurrencies and are there any ways of overcoming them? I've attached a good article below that covers a lot of the solutions to what people consider problematic at the moment, and it essentially says most of the risks are down to the user and not the technology (i.e. lack of education). Am interested to hear your opinions.

The interesting article: https://medium.com/@DDhopn/what-are-the-risks-of-buying-crypto-ff1c991a6c83

P.S. I am heavily involved in crypto, just keeping an open mind

I think for me, the risk of cryptocurrency is that, when I am so addicted to it, it turns out that I spend almost most of my money into it. Not much sufficient for my needs, and what if some coins that we've invested to doesn't return any good profits?

[Kawshies]

Real Risks of crypto is you have to be prepared for any condition that's going on like a loss, of fraud. Or the project that you're following doesn't work out the way it should. And a hacker attack could also occur.

[glendall]

if I see the thing that makes the cryptocurrency the most risky is the price that always rises and falls very sharply, when going up it will be very fast and so will when it falls,
so this is what you should know and be aware of if you want to play in cryptocurrency,
and the other thing to watch out for is hacker attacks.

[andieoke]

I think this Cryptocurrency is a very potential business, and behind all that there is a huge risk. The risk is, security for our money. Because this is open, we must be good at keeping our money from criminals or thieves. besides, the biggest risk of Cryptocurrency is that the value of Cryptocurrency is very volatile, so our money can decrease in value even in a very short time. Therefore, we must be prepared to face all that.

[Denreal]

You might have a good technology, yet the coin will still dump. At this point, it is obvious that the people I'm the crypto space are the cause of dump. Sometimes, I still get baffled when people spread FUD on good coin with useful product and those who do not have much knowledge about what they have, still fall into the trap of selling cheap. This is how far the market can be manipulated.

[Yarex]

People are too afraid of the high risks because they think that cryptocurrency is insecure and prone to crime. in fact they don't really know how crypto works and how the rules are. that is a reasonable reaction in my opinion.

In fact, the way it is. Cryptocurrency is a very risky business. Risks are associated primarily with fraud. A lot of new projects are cheating on their investors and stealing their money.
This is the main risk in the crypto market.

[daly896]

The real risks are to lose everything you have.
To my mind these risks are reasonable and you can easily lose your funds in a moment!

[Guryon_master]

It's true that the risk will down to the users and not to the technology. Well the thing there is that whether or not the user is near on this position technology is the one that is always has a good feedback since it offers advantages the only bad there is that crypto currency is very risky resulting failure to the project.

[Impaler]

I think in this crypto ecosystem there is lots of problem at least for now. First is reaching to general people. Cause in this world there's lots of people don't know about crypto or at least they don't know about this many projects are going on in this market. And for this problem there is a limitation in use cases of those project. And the second problem is government. Most of the governments not sure about what to do with crypto currency. In early 2017 or 2018 they think crypto currency is only used by illegal activities. Now they are working on it. If they help to grow crypto then first problem will be very easy to solve. And one more problem is manipulation and fud by whales. And there are lots like this type of problem like scammers failed project or lossing private key it's hard to recover and security hackers. And yes this problems will be solved and day by day the whole technology upgrade to a new level.

[shadowduck]

People are too afraid of the high risks because they think that cryptocurrency is insecure and prone to crime. in fact they don't really know how crypto works and how the rules are. that is a reasonable reaction in my opinion.

they are not afraid of scammers, but they are afraid of what they do not know. they do not understand how crypto tools work and do not know why they are needed as a whole.

[Luke NY]

Now crypts have such risks as fraud, we need to know where to invest, in which projects we also need to beware of burglary attacks. It also happens that the cost of lately increases, and then quickly decreases. You must be prepared for any situation.

[ramahero01]

basically, the crypto risk is indeed very high, so for those who still lack knowledge of crypto, of course, they will have a higher level of vigilance because this has already involved their assets so that it is a natural thing to happen. but I think if they already understand well about crypto, of course, they will be more confident to play in it.

[VPScreator]

I believe that the biggest risk to which every cryptocurrency owner is exposed is hacking his wallet. Also, unsuccessful investments and high market volatility can be attributed to the category of risks.

[kiansantan]

This cryptocurrency is a very potential business, and behind all that there is a huge risk. The risk is, security for our money. Because this is open, we must be good at saving our money from criminals or thieves. besides, Cryptocurrency's biggest risk is that the value of Cryptocurrency is very volatile, so our money can decrease in value even in a very short time.

[lotfipro]

Risks are everywhere. In every area of investing are their risks. In crypto risks are quite high. But the profit is much more than on traditional market. So you can lose all, and win all!

[South Park]

I think for me, the risk of cryptocurrency is that, when I am so addicted to it, it turns out that I spend almost most of my money into it. Not much sufficient for my needs, and what if some coins that we've invested to doesn't return any good profits?

You are lacking money management skills, it is fine that you are so excited in cryptocurrencies that you are investing money in them, but you should not invest in this market or in any market so much money that you do not even have enough money to cover your basic necessities, try to establish a budget so you know how much money you need every week or month to satisfy those needs and then decide how much of your money you will invest in this market.

[prayogi]

the risk that exists when investing in crypto is that very fast price fluctuations make us have to be able to understand market conditions, we must be able to determine when to buy and when to sell so that we do not experience losses

Another risk is that there are many hackers who can steal our accounts and wallets, so we must really maintain security so that the assets in them are not stolen, besides there are also many project frauds, so we must be careful when choosing projects

[ginobitcoiner]

the biggest risk is that you can lose your investment assets in an instant. because of price fluctuations that are very fast changing and never stable

[dodgecharger]

The article makes sense. The true value of cryptocurrency is reflected in how many users are using it and paying attention to it, and let it continue to add value. If no user pays attention to and uses this altcoin, it will eventually return to zero.

[Kryten12]

I think the risks of crypto are pretty easily identified.

1. Investing in a company of tech savvy people with little or no business experience.
2. Investing in a fake ICO project with an exit scam at the end of it.
3. Downturn in the major coins such as Bitcoin and Ethereum having a knock on effect on smaller alts.