The term “cryptocurrency” was introduced in 2011, since the publication of an article in Forbes magazine about a new type of virtual (digital) currency, one unit of which is coin (translated from English as “coin”). In the modern world, there are many types of cryptocurrencies, 50% of which, according to research, are soap bubbles that can burst at any moment, leaving thousands of people without money. How to be in such a situation, is it really impossible to somehow be warned?
In order to identify the main ways of warning, you first need to clearly understand what a cryptocurrency is in real form, what are its advantages and disadvantages. So, cryptocurrency is money that does not actually exist, while it has purchasing power. What does this mean? First, they can be quickly exchanged at any time of the day for real money, in any currency. Secondly, they can be used to buy air tickets, book hotels, pay in cafes, bars, pubs, restaurants, shops, pay for mobile communications, utility services, transport and travel agencies, and even top up a Troika card (taking into account a commission in the amount of five %). Of course, only where cryptocurrency is accepted as a means of payment.
According to opinion polls, cryptocurrency is becoming one of the most profitable investment vehicles for citizens, along with real estate, banks, precious metals, etc. It becomes so tempting to use cryptocurrency in conditions of its anonymity (anyone can open a wallet, for such a currency you only need software and access to the network), relatively small commissions for transfers (ranging from 1.5 to 7%, and in some cases no commission is taken), decentralization (there is no single control center for the cryptocurrency distribution system), the absence of intermediaries (banks, payment systems, exchangers) in exchange operations, and also not subject to inflationary processes (their number is known in advance and is limited). Thirdly, there are quite profitable ways to transfer cryptocurrency into money (including electronic) or other types of cryptocurrency (among which the most common are Bitcoin, Ethereum, Litecoin, Zcash, Dash, Ripple). There is also no fixed rate for cryptocurrency, it depends on the chosen exchange platform.
As for the disadvantages, one of them is vulnerability and security. If access to the wallet is lost, you can say goodbye to money forever. The password is not always recovered. Errors are also irreparable. Among online wallets, there are collection sites that disappear from the moment a certain amount of money is received from the user. In the event of an accidental transfer of funds to another person's wallet, it is unlikely that it will be possible to return them without his voluntary consent. Transactions are irreversible. With a cash sale of cryptocurrency (not on special platforms), there is a danger that the counterparty will not fulfill its obligations due to the need to transfer it from real to virtual. In addition, a reason to be wary is the offer of doubled or free ways to increase the cryptocurrency.
Unlike the United States and a number of European countries, where cryptocurrency is widespread and regulated, in Russia, based on the current regulatory framework, organizations actually cannot accept cryptocurrency. This is due to the fact that back in 2014, such transactions were recognized by the Central Bank of the Russian Federation as speculative. And in this situation, the system of organizing it in offshore zones and in the process of implementing international relations has successfully developed. As a result, in 2017, the Ministry of Economic and Communications of the Russian Federation, the Central Bank of the Russian Federation, and the Ministry of Finance of the Russian Federation took up the issue of legalizing cryptocurrency in Russian conditions. However, it is planned to form a package of documents directly regulating the rules of cryptocurrency circulation only by 2018.
Therefore, in order to prevent deception at the present time, the most important measures can be summarized as follows. You must be careful when choosing a special site (for example, use the Russian section on the LocalBitcoins.com website), carefully check the counterparty information, and install secure mobile applications for cryptocurrency transactions. It is also important to use only trusted (for example, widely known) or stationary (without Internet access) wallets for storing cryptocurrency and avoid spam emails about such services.
Of course, scammers do not stand still, but this does not mean that the cryptocurrency itself is illegal. It exists and is still in demand. And, taking into account all the advantages of an innovative currency, it is possible to predict the prospects for its development and implementation in public life.
