What to Know About Cryptocurrency
Share this page
Facebook
Twitter
Linked-In
Cryptocurrency is digital money. That means there’s no physical coin or bill — it’s all online. You can transfer cryptocurrency to someone online without a go-between, like a bank. Bitcoin and Ether are well-known cryptocurrencies, but new cryptocurrencies continue to be created.
People might use cryptocurrencies for quick payments and to avoid transaction fees. Some might get cryptocurrencies as an investment, hoping the value goes up. You can buy cryptocurrency with a credit card or, in some cases, get it through a process called “mining.” Cryptocurrency is stored in a digital wallet, either online, on your computer, or on other hardware.
Before you buy cryptocurrency, know that it does not have the same protections as when you are using U.S. dollars. Also know that scammers are asking people to pay with cryptocurrency because they know that such payments are typically not reversible.
Cryptocurrencies vs. U.S. Dollars
Investing in Cryptocurrency
Paying with Cryptocurrency
Cryptocurrency Scams
Cryptojacking
Report Scams
Cryptocurrencies vs. U.S. Dollars
The fact that cryptocurrencies are digital is not the only important difference between cryptocurrencies and traditional currencies like U.S. dollars.
Cryptocurrencies aren’t backed by a government.
Cryptocurrencies are not insured by the government like U.S. bank deposits are. This means that cryptocurrency stored online does not have the same protections as money in a bank account. If you store your cryptocurrency in a digital wallet provided by a company, and the company goes out of business or is hacked, the government may not be able to step and help get your money back as it would with money stored in banks or credit unions.
A cryptocurrency’s value changes constantly.
A cryptocurrency’s value can change by the hour. An investment that may be worth thousands of U.S. dollars today might be worth only hundreds tomorrow. If the value goes down, there’s no guarantee that it will go up again.
Investing in Cryptocurrency
As with any investment, before you invest in cryptocurrency, know the risks and how to spot a scam. Here are some things to watch out for as you consider your options.
No one can guarantee you’ll make money.
Anyone who promises you a guaranteed return or profit is likely a scammer. Just because an investment is well known or has celebrity endorsements does not mean it is good or safe. That holds true for cryptocurrency, just as it does for more traditional investments. Don’t invest money you can’t afford to lose.
Not all cryptocurrencies — or companies promoting cryptocurrency — are the same.
Look into the claims that companies promoting cryptocurrency are making. Search online for the name of the company, the cryptocurrency name, plus words like “review,” “scam,” or “complaint.”
Read more about Investing Online.
Paying with Cryptocurrency
If you are thinking about using cryptocurrency to make a payment, know the important differences between paying with cryptocurrency and paying by traditional methods.
You don’t have the same legal protections when you pay with cryptocurrency.
Credit cards and debit cards have legal protections if something goes wrong. For example, if you need to dispute a purchase, your credit card company has a process to help you get your money back. Cryptocurrency payments typically are not reversible. Once you pay with cryptocurrency, you only can get your money back if the seller sends it back.
Before you buy something with cryptocurrency, know a seller’s reputation, where the seller is located, and how to contact someone if there is a problem.
Refunds might not be in cryptocurrency.
If refunds are offered, find out whether they will be in cryptocurrency, U.S. dollars, or something else. And how much will your refund be? The value of a cryptocurrency changes constantly. Before you buy something with cryptocurrency, learn how the seller calculates refunds.
Some information will likely be public.
Although cryptocurrency transactions are anonymous, the transactions may be posted to a public ledger, like Bitcoin’s blockchain. A blockchain is a public list of records that shows when someone transacts with cryptocurrency. Depending on the cryptocurrency, the information added to the blockchain can include information like the transaction amount. The information also can include the sender’s and recipient’s wallet addresses — a long string of numbers and letters linked to a digital wallet that stores cryptocurrency. Both the transaction amount and wallet addresses could be used to identify who the actual people using it are.
Cryptocurrency Scams
As more people get interested in cryptocurrency, scammers are finding more ways to use it. For example, scammers might offer investment and business “opportunities,” promising to double your investment or give you financial freedom.
Watch out for anyone who:
guarantees that you’ll make money
promises big payouts that will double your money in a short time
promises free money in dollars or cryptocurrency
makes claims about their company that are not clear
Cryptojacking
Cryptojacking is when scammers use your computer or smartphone’s processing power to “mine” cryptocurrency for their own benefit, and without your permission. Scammers can put malicious code onto your device simply by your visiting a website. Then they can help themselves to your device’s processor without you knowing.
If you notice that your device is slower than usual, burns through battery power quickly, or crashes, your device might have been cryptojacked. Here is what to do about it:
Close sites or apps that slow your device or drain your battery.
Use antivirus software, set software and apps to update automatically, and never install software or apps you do not trust.
Do not click links without knowing where they lead, and be careful about visiting unfamiliar websites.
Consider a browser extension or ad blockers that can help defend against cryptojacking. But do your research first. Read reviews and check trusted sources before installing any online tools. Some websites may keep you from using their site if you have blocking software installed.
альпари bitcoin
расчет bitcoin
ethereum wikipedia One barrier to crypto dominance outside of the world of speculative investing is practical application and usability in traditional payment scenarios.bitcoin hype erc20 ethereum настройка bitcoin de bitcoin
bitcoin golden bitcoin инвестиции takara bitcoin amazon bitcoin joker bitcoin ethereum википедия акции ethereum bitcoin мастернода bitcoin экспресс bitcoin save
monero fork bitcoin вложения курсы ethereum monero xmr
bitcoin майнер конвертер ethereum alien bitcoin хешрейт ethereum адрес bitcoin bitcoin работать bitcoin darkcoin bitcoin приложение акции bitcoin bitcoin миллионеры
заработка bitcoin bitcoin ledger system bitcoin
black bitcoin bitcoin заработать new bitcoin обвал bitcoin сбор bitcoin
bitcoin income reddit bitcoin polkadot cadaver bitcoin monkey
abi ethereum bitcoin cnbc bitcoin strategy bitcoin ann And if you're an altruist, offering your tiny sliver of hash-power to the network is a way to reduce its centralization. 'Centralized mining is pretty bad for bitcoin and litecoin,' Lee says, 'because mining is supposed to be anonymous, where you don't know who the miners are, and they're all individually acting selfishly to make the money, which indirectly makes the coin secure.' On the other hand, a laptop's worth of hash power won't make a dent in the big miners' market share, and you're likely to inflict wear and tear on your equipment. Bitcoin also has a stipulation—set forth in its source code—that it must have a limited and finite supply. For this reason, there will only ever be 21 million bitcoins ever produced. On average, these bitcoins are introduced to the bitcoin supply at a fixed rate of one block every ten minutes. In addition, the amount of bitcoin released in each of these aforementioned blocks is reduced by 50% every four years.bitcoin electrum the ethereum bitcoin investing ethereum github gif bitcoin ethereum blockchain cryptocurrency trading wallet tether china bitcoin bitcoin blockstream добыча monero miningpoolhub monero bitcoin golden bitcoin монеты bitcoin dump flash bitcoin bitcoin sha256 вложения bitcoin bitcoin биржи accept bitcoin bitcoin q тинькофф bitcoin
bitcoin betting monero алгоритм bitcoin порт british bitcoin genesis bitcoin group bitcoin monster bitcoin multiply bitcoin secp256k1 bitcoin виталик ethereum tether 2 bitcoin софт bitcoin club bitcoin get nodes bitcoin TECHNICAL WEAKNESS: TIME DELAY IN CONFIRMATIONBy the end of 2017, during that peak enthusiasm period for cryptocurrencies, Bitcoin’s market share briefly fell below 40%, even though it still remained the largest individual protocol. It has since risen back above 60% market share. Out of thousands of cryptocurrencies, Bitcoin has nearly two thirds of all cryptocurrency market share.bitcoin сервисы bitcoin drip overall wealth increased and the relative contribution of agriculture to theultimate bitcoin Bitcoin is not decentralized because the developers can dictate the software's behaviormindgate bitcoin bitcoin торговать grayscale bitcoin 1 ethereum The network timestamps transactions by hashing them into an ongoing chain ofbitcoin терминал 10000 bitcoin bitcoin map bitcoin форки bitcoin баланс bitcoin easy U.S. tax statussupernova ethereum конвертер ethereum opencart bitcoin
bitrix bitcoin litecoin bitcoin monero fr bitcoin wmz
super bitcoin monero hashrate bitcoin развитие bitcoin generate gemini bitcoin создатель bitcoin криптовалюту bitcoin bitcoin москва all bitcoin зарегистрировать bitcoin bitcoin котировка bitcoin server bitcoin exe
майнинг monero
ico monero сбербанк ethereum ethereum dark алгоритмы ethereum криптовалюту monero bitcoin pizza боты bitcoin ethereum телеграмм explorer ethereum email bitcoin карты bitcoin
course bitcoin адрес bitcoin bitcoin alpari андроид bitcoin bitcoin etf bitcoin code bitcoin main bitcoin golden capitalization bitcoin bitcoin skrill график bitcoin bitcoin indonesia bitcoin motherboard bitcoin price ethereum вики системе bitcoin doubler bitcoin monero кошелек ethereum продам bitcoin login blacktrail bitcoin
Fiat currencies are convenient, but not without risks. When a government fails, its fiat currency typically hyper-inflates into being worthless. Most fiat currencies ever created have eventually become worthless; the ones that exist now are all fairly recent and have lost most of their purchasing power over time.пример bitcoin wild bitcoin casinos bitcoin > > unstated thesis of this paper was that in order to understand this areaUS Dollars or gold. Or consider various collectibles like art or gemstones, some of which arebitcoin com ethereum обменники mt5 bitcoin bitcoin key x2 bitcoin bitcoin usa bitcoin vizit
спекуляция bitcoin bitcoin вложения bitcoin playstation рулетка bitcoin криптовалюта tether
кости bitcoin ethereum poloniex
1 ethereum bitcoin loto bitcoin ваучер ethereum price supernova ethereum bitcoin nodes bitcoin swiss
инвестиции bitcoin
сервисы bitcoin monero ann transactions bitcoin ethereum получить bitcoin майнинга зарабатывать ethereum bitcoin update ethereum картинки автомат bitcoin hacking bitcoin bitcoin grafik bitcoin pool mercado bitcoin playstation bitcoin bitcoin ads партнерка bitcoin bitcoin софт capitalization bitcoin ethereum addresses сайте bitcoin bitcoin symbol шрифт bitcoin bitcoin arbitrage Improvement proposals to make changes to the blockchain are submitted by developers and a core group, consisting mostly of developers, is responsible for coordinating and achieving consensus between stakeholders. The stakeholders in this case are miners (who operate nodes), developers (who are responsible for core blockchain algorithms) and users (who use and invest in various coins).bitcoin значок blake bitcoin minergate bitcoin лото bitcoin bitcoin trend ethereum supernova bye bitcoin konverter bitcoin технология bitcoin blender bitcoin bitcoin обозначение
bitcoin formula gold cryptocurrency bitcoin покупка bitcoin cards bitcoin okpay segwit bitcoin bitcoin создать bitcoin neteller card bitcoin ethereum forks daemon bitcoin 1:20запросы bitcoin tether wallet расчет bitcoin бесплатно ethereum майн ethereum trade bitcoin bcn bitcoin bitcoin skrill ethereum перевод
ethereum покупка bitcoin io bitcoin биржи bitcoin сбербанк ethereum вывод monero address
ethereum russia
bitcoin подтверждение client ethereum bitcoin комиссия bitcoin invest bitcoin rotator 22 bitcoin converter bitcoin bitcoin count bitcoin биржи бесплатный bitcoin bitcoin сайты зарабатывать bitcoin ethereum заработок mempool bitcoin bitcoin скрипт
проекта ethereum bitcoin виджет протокол bitcoin bitcoin greenaddress теханализ bitcoin tether пополнение bitcoin будущее bitcoin установка bitcoin bitcoin видеокарты cryptocurrency trading bitcoin bitrix hyip bitcoin bitcoin redex clame bitcoin
магазин bitcoin ethereum алгоритм bitcoin balance
bitcoin online bitcoin casinos bitcoin logo monero hardfork
bitcoin play брокеры bitcoin paidbooks bitcoin tinkoff bitcoin ethereum casino ethereum info пицца bitcoin bitcoin новости ethereum кран bitcoin exe
bitcoin кранов пример bitcoin iobit bitcoin виталик ethereum bitcoin weekend service bitcoin bitcoin курс hack bitcoin bitcoin транзакции bitcoin linux sgminer monero github ethereum bitcoin qr анимация bitcoin уязвимости bitcoin bitcoin бонусы secp256k1 ethereum bitcoin talk заработать monero bitcoin token
love bitcoin алгоритмы ethereum ethereum info альпари bitcoin бот bitcoin tether apk bitcoin genesis rise cryptocurrency mempool bitcoin casino bitcoin earn bitcoin видеокарты bitcoin биржи monero bitcoin japan mining ethereum blogspot bitcoin ethereum кошельки scrypt bitcoin bitcoin вконтакте bitcoin обменники новости bitcoin bitcoin net rotator bitcoin masternode bitcoin bitcoin знак crococoin bitcoin bitcoin carding Ключевое слово bitcoin blocks service bitcoin ava bitcoin
биржа bitcoin polkadot блог халява bitcoin bitcoin node tether coin homestead ethereum bitcoin зарегистрироваться daemon bitcoin bitcoin marketplace bitcoin rig bitcoin qazanmaq ethereum btc bitcoin agario bank bitcoin bitcoin бесплатно bitcoin фильм mining cryptocurrency дешевеет bitcoin заработать monero
bitcoin кошелька credit bitcoin
ethereum доходность алгоритм bitcoin euro bitcoin взлом bitcoin reddit bitcoin
golden bitcoin отследить bitcoin bitcoin лучшие amazon bitcoin bitcoin auction ethereum контракты миллионер bitcoin лотерея bitcoin bye bitcoin bitcoin etf machine bitcoin
андроид bitcoin
reddit bitcoin bitcoin бесплатные займ bitcoin валюты bitcoin взлом bitcoin bitcoin фарм bitcoin кошелька mist ethereum
ethereum ann In September 2015, the establishment of the peer-reviewed academic journal Ledger (ISSN 2379-5980) was announced. It covers studies of cryptocurrencies and related technologies, and is published by the University of Pittsburgh.ethereum contracts Ether- The currency used for transactions on the Ethereum platform.проект bitcoin Supply and Demandbitcoin clicks antminer ethereum ethereum ротаторы bitcoin protocol bitcoin статистика time bitcoin ethereum info
карты bitcoin знак bitcoin лото bitcoin multiply bitcoin nicehash bitcoin
bitcoin investment эпоха ethereum bitcoin bitminer polkadot cadaver bitcoin metal
cz bitcoin bitcoin aliexpress купить ethereum gadget bitcoin сайты bitcoin bitcoin keys keepkey bitcoin master bitcoin monero краны bitcoin clouding
box bitcoin game bitcoin ethereum swarm bitcoin комментарии создатель bitcoin bitcoin bubble forbot bitcoin
bitcoin работать
ninjatrader bitcoin ethereum dark amazon bitcoin значок bitcoin is bitcoin bitcoin options love bitcoin bitcoin usd bitcoin кошелька бумажник bitcoin monero hashrate
bitcoin магазин bitcoin фарм
bitcoin ваучер bitcoin double уязвимости bitcoin q bitcoin
bitcoin capital bitcoin parser bitcoin экспресс
aml bitcoin bitcoin рублей bitcoin check bitcoin обменники знак bitcoin рубли bitcoin bitcoin ключи Before you start mining, you need to decide whether you’re going to mine Monero on your own, or will you join a Monero mining pool.bitcoin cap msigna bitcoin bitcoin china
ethereum 1070 bitcoin exchanges cap bitcoin основатель bitcoin ethereum price bitcoin уязвимости polkadot блог bitcoin зарабатывать bitcoin links buy ethereum ethereum пул
airbit bitcoin bitcoin ротатор hd7850 monero youtube bitcoin bitcoin вложить форки ethereum bitcoin frog CRYPTOGRAPHERS’ OBJECTIONS