A Cryptocurrency, also called virtual currency or cryptocurrency, is digital money. Which means that there is no exchange of coins or physical bills every exchange of realization online. You can transfer a cryptocurrency to someone on the internet without an intermediary, such as a bank. The best known cryptocurrencies are Bitcoin and Ether, but new crypto-currencies such as Steem, Ripple, Litecoin, Cardano, Eos, Neo, and many more are found to be added.

People can use cryptocurrencies to make quick payments and to avoid challenge charges. Some people could acquire cryptocurrencies as an investment, hoping that their value increases. Cryptocurrencies can be purchased with a credit card or in some cases, through a process called "mining." Cryptocurrencies are stored in a wallet or digital wallet, whether online, on your computer or on other physical media.

Before buying a cryptocurrency, you have to know that you don't have the same protections as when you use US dollars. We also have to know that scammers are asking people to pay you with a cryptocurrency because they know that, in general, those payments are irreversible.

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The fact that digital crypto-currencies is not the only important difference between cryptocurrencies and traditional currencies such as US dollars.

Are cryptocurrencies backed by a government?

Cryptocurrencies are not insured by the government as are bank deposits in the US. UU. That means that crypto-currencies stored online do not have the same protections that money has in a bank account. If you store a crypto-currency in a digital wallet provided by a company, and the company ceases its operations or suffers a computer attack, the government may not be able to act and help you recover the money as you could with the money that is Save in banks or credit unions.

However, we all want to enter the new virtual era and have cryptocurrencies as many are worth even more than the dollar itself. Being a double-edged sword, because that way it can be much more than a dollar, also from one day to the next it can decrease its value incredibly.

Is this true this?

Well yes, the value of a cryptocurrency can change every hour. An investment that today can be worth thousands of dollars tomorrow could be only hundreds of dollars. If the value falls, there is no guarantee that it will rise again. Here you can win, or lose.

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If you have decided to invest in the world of cryptocurrencies, you must be very careful with scammers, because it is easy because of your ignorance that you are crypto-scammed.

You should study the options well, anyone who promises a guaranteed dividend or yield is probably a scammer.

As there are more people interested in cryptocurrencies, scammers are finding more ways to use them. For example, scammers can offer investments and business "opportunities" by promising to double their investment or give financial freedom.

According to the General Trade Commission, be careful with anyone who:

I guarantee you will earn money.
It promises you high returns that will double your money in a short period of time.
He promises you money in exchange for nothing in dollars or in cryptocurrency.
Make confusing statements about your company.

Listen to your intuition, if something does not convince you, better investigate deeply.

Support material for the article:

https://www.consumidor.ftc.gov/articulos/lo-que-hay-que-saber-sobre-las-criptomonedas

https://blockgeeks.com/guides/es/que-es-una-criptomoneda-todo-lo-que-necesitas-saber