Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
The owner of one of the Turkish crypto-exchanges escaped with $2 billion. How to properly store cryptocurrency
- One of the main advantages of blockchain technology is transparency. Such large amounts cannot go unnoticed during transfers, and their owner will face the problem of withdrawing money to a third-party exchange. For example, Turkish government authorities recognize the transaction as illegal and enter the wallet into a special register. After transferring even a part of these funds to a legitimate site, they will be frozen there.
- Experts advise choosing decentralized services or services with high trust. The longer the service has been on the market, the better the professional reputation, the less likely it is to fall for the bait of attackers. One of these services is Coin24.io. For more than 10 years on the market of electronic currencies and cryptocurrencies, we have learned to provide high quality service and have earned a reputation for being reliable and safe for clients' funds.
- There is no 100% way to protect a bitcoin wallet from scammers, the risk of being deceived is always present. But it is possible to minimize it. Cryptocurrency exchange is a rather risky instrument. The universal way to protect yourself is not to store funds on them and choose local wallets. Money that is not actively used at the moment should be better transferred to s.c. ‘’cold wallets’’ that are not on your device. The only risk in this case will be the loss of a bitcoin wallet.
