Make no bones about it, when it comes to digital currencies, there are quite a few risks attached. As much as mainstream media and governments want to blow these risks out of proportion, there is a certain truth to what they are saying. But don’t be mistaken in thinking that digital currencies present more risks than any other type of investment.
The Five Risks of Virtual Currencies According to USA.gov
A few days ago, a message was posted on the USA.gov website warning people about the potential threats concerning digital currencies. It has to be said, however, that there is one important line in this message that is very positive for Bitcoin; “This digital money can be used like traditional money” is an official acknowledgement of the fact that Bitcoin is usable and a currency in its own right.
That being said, the major concern surrounding digital currencies is, apparently, the high risk of fraud. Granted, the world of Bitcoin has been the target of malicious individuals looking to scam money from other users. Whether this came in the form of HYIPs, Ponzi schemes or other investment opportunities, your recovery options are almost nonexistent.