Also known as “the currency of the future,” cryptocurrency, most notably Bitcoin is a global phenomenon unbeknownst to many and individuals who have had a personal experience in forex cryptocurrency investment are still unable to provide consistent information about the basic concept behind these virtual currencies.
The unpredictable nature of cryptocurrency trading is what makes it highly volatile because while a hand full of people swear by its rewards.
it took them years before they could reap any benefits and even longer to master all the technical indicators in order to invest in unique ideas.
Forex cryptocurrency trading is a devolved digital currency that is not governed by any entity, and its value is what the holder of the currency supposes it to be.
Contemplate the following reasons before you jump head first in cryptocurrency investment:

⦁ Unregulated
Unlike most forex managed accounts which are regulated by and affiliated to financial regulatory authorities, cryptocurrencies are stored on a decentralized public structure or ledger known as a blockchain free from government entities or bank regulation, which is part of their “allure” .
These coins exist in the virtual world, and without a money manager in place to protect your online investment, you as forex cryptocurrency stakeholder are not protected from financial instability in case prices crash, and you can’t turn to any authority for compensation.

⦁ Fairly new
Cryptocurrency is still new, and it can take months for a novice to understand how it works, how to secure the coins, how the currency differs from fiat money or even the true impact that digital cash or cryptos have in the world. The success or failure of forex cryptocurrency trading will depend on and the financial risks you are prepared to take and your overall knowledge of the concept.

⦁ Pyramid scheme
While cryptocurrency has been deemed a secure, global, and digital currency that has appealed the interest of many online investors.
many have fallen victims of elaborate Ponzi schemes or affinity fraud that promise to double their investment with unrealistic returns within a very short period of time. This has not only raised questions about cryptocurrencies’ efficacy but also about their legality and replication, which would render them virtually valueless.

⦁ Susceptible to illegal activity
Investing in cryptocurrency can be a risky endeavor, and even though they are kept in wallets that you control, however, owing to the fact that they are on the internet, they are vulnerable to hackers, extortionists, and terrorists.

⦁ Volatile currency
Because cryptocurrency prices are yet to be regulated, should the prices take a nosedive, those heavily invested in a currency which is not controlled by a single administration would suffer a devastating financial blow-back that would be difficult to recover.
It is, therefore, imperative to take some time to comprehend how cryptocurrency works and the potential risks or rewards involved before investing any money.
After all, shouldn’t securing your investment be your top priority?