Well yes that you will be secured from scammers and hackers but you'll miss lots of opportunities and i think it is part of the risk that we're taking when we enter the crypto world, it is our job to research about the project that we're investing with because once we found out that its a scam, we can warn others specially newbies about that specific project that only scams people and you could save other's money by your research.
But many of those opportunities are not real, even if there are thousands of coins in the market that doesn't really mean that you have thousands of options in which you could invest your money, at best you have something like 50 different coins in which you could invest, the rest are scams, bad projects or projects that are copying other coins.
So I do not really feel like I'm missing anything because I can invest in the best coin in the market which is bitcoin and in a few other good altcoins like ethereum.
That is true, we should only focus on the few cryptocurrencies in the market instead of wasting our time and effort to check all of the cryptocurrencies in the market. It is just about being wise and smart that in the long run, only the OGs and the real cryptocurrencies with working product will definitely make it at the end.
Today, the entire cryptocurrency market, as well as each cryptocurrency, is in the spotlight due to fraud and the use of cryptocurrency in criminal activities. It’s not only about fraudsters who manipulate the cryptocurrency market, but also developing fraudulent projects to rob investors, but it’s also about those actions that make governments speak negatively about cryptocurrencies and try to impose rules on users where cryptocurrency users lose their anonymity and will be forced to provide passport data. One way or another, we will not be able to get away from reality and KYC will be mandatory for each cryptocurrency user, as well as a global check of each company that is connected with cryptocurrency will be mandatory and this will be a panacea for existing problems.
Due to these scams, repute of crypto around the world is badly damaged. Taking advantage of these scam projects many countries have issued advisories against cryptocurrency and ICOs. IEOs came to rescue crypto market but they were of no use.
Exit Scams Swindled $3.1 Billion From Crypto Investors in 2019: ReportThis is not really a problem of reputation, if it was then we could argue with all of those people that are somehow giving a false impression about the market of cryptocurrencies, this is a problem of facts, it is undeniable that a significant portion of the market of cryptocurrencies is composed of scammers that are doing nothing but looking for ways to get to your coins.
And one of their favourite ways to do this is to try to create projects that give the outward appearance of being a legitimate project when that is not the case.