South Korea - Cryptocurrency ban?
Don't worry everyone, due to high volumes of people investing in recent weeks.
There is a HUGE concern about money laundering with fake accounts or accounts with no identity verification.
MAKE SURE all your accounts have been verified.
STICK WITH MAJOR EXCHANGES as a lot of smaller exchanges will be shut down in the process.
IT IS ALWAYS SAFER HAVING YOUR FUNDS IN COLD STORAGE (eg. nano ledger, trezor, paper wallets, etc.)
(do your homework on your exchanges; where it is based, what kind of security it offers and if it is following government regulations that they reside in)
Image from Altcointoday.com
There is also a HUGE CONCERN regarding number of exchanges growth over the past month ALONE!
There has been huge number of complaints about funds stuck during deposits/withdrawals and lag during trades where exchanges themselves cannot keep up with number of transactions itself.
For more details check out news.com.au:
http://www.news.com.au/finance/economy/world-economy/south-korean-government-to-introduce-tough-new-bitcoin-rules-following-abnormal-speculation/news-story/5e3f51d3c79756e8945a4ef124d484fe
This will soon be over as this is a great opportunities for many undervalued coins to finally rise!
But do invest with caution! This process also weeds out many scam/useless coins!!!
This information should not be taken as as investment advice and merely treated as entertainment purposes only. Invest what your prepared to lose!
Merry Christmas and Happy new year everyone!
CryptoZen
I completely agree there but from my own personal thoughts are that there still needs to be a transitional phase between for people to accept it. There will always be some kind of trust system in the centralised banks UNTIL people can see the full benifits of a decentralized community.
Thanks for your input @lordcisco I edited that in. I'm always in favour of cold storage for majority of your holdings.
Happy New Year!!!
CryptoZen
i dont agree with the transitional phase i dont care if people accept it at this point they will either join or get left behind, and from what ive seen locally they are deciding not to get left behind and trying to join in while they still can. im no hype talker or some blogger im just an old school newbie miner, it seems that everyones got an opinion onn crypto these days and they have no experience at all , ive built coins killed coins, hijacked and brought dead coins back to life these people are only clicking and trading hald never bought a thing with a coin yet, i remember buying peper seeds for an old pepper coin these people sit behind desks and read all day and are simply trying to profit from the hype and ignorance of others joining..... whatever im out let me know if you need me for anything
@lordcisco What's your view on the Bitcoin/Bitcoin Cash stage we are at the moment?
From what I am seeing all points to Bitcoin Cash taking over Bitcoin itself, but obviously I wouldn't know jack all compared to a miner like yourself.
How do you see the outcome of all of this?
Happy New Years!
CryptoZen
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