1. Always buy from a reputable exchange (Gemini, Coinbase, Binance, etc.)
2. Keep your coins safe with a trusted custodian or in your own crypto wallet (more on this below).
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Here are some steps you can take in order to avoid fraud and scams:
π‘ Stick to popular coins like Bitcoin and Ethereum. Many scams target newer, lesser-known coins with promises of huge returns.
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Whether youβve heard about people using crypto to buy their groceries at Whole Foods or their coffee at Starbucks, cryptocurrency is a trending topic β and investment.
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Customers do not have to stand in queues in cash counters to pay for the products that have been purchased by them. They can shop from their home or workplace and do not have to spend time travelling.
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Bitcoin is a great starting place for any beginner. Every currency exchange supports Bitcoin, which means that you'll know what you're buying into. Bitcoin is merely a form of digital cash.
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π‘ Saves time and efforts.
π‘ The convenience of shopping at home.
π‘ Wide variety/range of products are available.
π‘ Good discounts / lower prices.
π‘ Get detailed information about the product.
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Blockchain provide a distributed, inalterable record of transactions, financial institutions can use them for recordkeeping and reporting to regulatory agencies.
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Simply put, a token represents what you own, while a coin denotes what you're capable of owning. On a broader scale of things, tokens existed long before cryptocurrency was a thing.
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Cryptocurrency is one of the hottest topics in both the online and offline worlds. Most of us learned about crypto by hearing friends or prominent figures praising its potential.
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