The latest Bitcoin trading strategy scams and manipulations Bitcoin allows money to be transferred quickly, securely, and without third parties online. Unlike the bank, if you transfer money to another country, a third party is required.
Bitcoin also helps reduce the fee paid by third parties, bitcoin only has a transaction fee that is much lower than the fee required by third parties. The Bitcoin system is completely peer-to-peer, traders will not be interrupted by any third party. Very fast Bitcoin transfer unlike the bank needs 5-10 business days to transfer money from one country to another country.
These days, cryptocurrency is seen as a scam due to the manipulation of the price of a cryptocurrency, and blockchain technology is decentralized, leading to many investors being tricked and the stock market being hacked. One of the main reasons why people are involved in Bitcoin Trading is because the rich can easily manipulate the price of the cryptocurrency and get richer.
For the rich, it is easy for them to earn a lot by attracting small investors and making the small investor lose a lot of money. According to Asolo (2018), one of the common skills that the rich perform is called "pumps and dumps". This training is the fastest technique for manipulating the cryptocurrency market. The rich can "set the price" because they control most of the cryptocurrencies on the stock exchange.
If they want it low, they will throw many of these cryptocurrencies in the market, so that there is a large amount of the individual coin, which makes the price low. Due to its decentralized nature, this makes it easy to scam the investor and still not receive any penalty.
There are many possibilities for a hacker to easily deceive investors, one of the possibilities is that the hacker uses complex strategies to mislead investors. Hackers can easily obtain the latest hardware and software, and this makes it easy for them to continue with the hoist. During 2018, Larcheveque stated that cryptocurrencies worth approximately $ 2. 7 million were stolen daily.
The statement shows that most cryptocurrency exchange and service providers lack the latest security technology. The government has put in place tough laws to prevent fraud. you can trade cryptocurrencies in a more secure environment. This is because the "Know Your Customer" policy can prevent anonymity. According to Law (2017), the client and the investor will be angry and worried that others will steal their private information.
Most investors are afraid that someone will exploit and use their private information. Ismail's (2018) findings showed that the "Know Your Customer" policy will discourage anonymous investors and customers. The government can easily see investor and customer information, and this prevents tax fraud. The example shows that the "Know Your Customer" policy can provide a safer investor environment.
According to the explanation, the most practical solution that the authorities can make is to implement the policy "Know your customer". This is because the policy is easy to implement and does not require much time to implement. The investor only needs to provide a few more details before investing (Ley, 2017). The procedure is quick and easy.
On the other hand, in the United States, it takes about 153 days for Congress to pass a bill, as stated by the parliamentary oversight group (s. F. ). Bill is a proposal for a new law. As we can see, the creation of a new law took a long time. As a result, the implementation of the policy is much more efficient and less work for government employees. See more about bitcoin trading and scams here!