Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me.
Scam and hacks don't only affect cryptos. They affect every aspect of investment, provided there's money to be made there. It's just that crypto scam and hacks are more prevalent and reported in bull seasons than in the bear moment.
Scams and hacks are always prevalent, but they are given more eyes and ears during bull, also, there are more newbies to prey for in bulls.
It's true they are everywhere wherever there money involved, but there is minimal resistance in crypto, you lose pvk/seed, sign malicious transaction, clipboard hijacked and you send funds to wrong address — all gone.
...once you have made enough, secure it, diversify in real estate, gold, etc.
I don't think that advice is ripe at this time. Now is a good time to concentrate on crypto investment. Maybe after the bull rally, investors can look in the direction of what you mentioned.[/quote]
If person is already having significant amount in crypto, he should already diversify.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Yes, hacks happen but in most cases it's with the connivance of the victims who are likely to ignorantly give out vital information leading to the vulnerability of their wallets. For instance, we shouldn't be clicking on every link or extensions we get sent to. If one must get involved in airdrops, one should get a burner wallet for it. Don't expose any wallet you've a substantial amount of coins in by using it for airdrop.
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That's true.