This year brought considerable growth to the crypto community. In particular, Bitcoin regained much of its lost value and is on its way to fresh new all-time highs. Along with this added value comes a host of Bitcoin scams. Unfortunately, the unregulated and private nature of the market makes it ideal for scammers seeking to prey on new investors.

Bitcoin has a tendency to attract a lot of attention when it enters a bull market. This attention helps to drive new users into the market. Problems arise when new investors lack the experience to identify common Bitcoin scams, including fake ICOs, shady trade groups, and fraudulent exchanges. Analysts agree that only an education can prevent users from falling victim to these ever-changing schemes.

Blockchain analysis firm, Chainalysis’ latest crime report has named Mirror Trading International (MTI) as the biggest cryptocurrency scam of 2020. Chainalysis arrived at this conclusion after an investigation found that MTI had taken in $589 million from more than 471,000 deposits. According to the report, MTI’s haul is significantly higher than that of Forsage and J-enco, the next biggest scams. Both scams raked in less than $350 million each.

Technology has changed the way people work, communicate, shop and even purchase goods.  With the short wave of a smartphone, consumers pay for items at digital registers.

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The quality cryptocurrency to make investments in is going to depend on your own, non-public preferences, and ordinary financial situation. Are you searching to invest short-term, or long-term? Do you like to hazard a lot, or play it as protected as possible? What about the expenditures – do you design to make investments a lot of money, or do you solely possess a small beginning budget? Also, every cryptocurrency is exceptional – it’s vital to put in the time and lookup to find one that will suit you best!

The largest digital asset, which has doubled in value this year 2020, pumped as much as 6% above $17,500 on Tuesday in New York trading. From an all-time high in December 2017 of nearly $20,000. It outperformed most of its 10 biggest rivals.

The cryptocurrency market has become more powerful over recent years, and even despite the current situation with the Covid-19 pandemic taking its toll worldwide, there are still many people who are interested in investing in cryptocurrency. This is mainly due to the fact that the advantages attributed to decentralized finance are well known, and certainly better appreciated at this time.

Just like exchanging currency in a new country, that’s what investing in cryptocurrency is all about. Typical examples of digital currencies are Bitcoin, Litecoin, Ether, Ripple, etc.