How to Buy & Not Lose: What You Need to Know Before Buying Crypto. LATOKEN Review
How to start working with the digital asset market? How to secure your investments? Let’s look at some critical points in our new LATOKEN review!
To enter the stock market, you need to become a broker’s client. This will allow the investor to buy and sell securities. At the same time, most of the organizational nuances are taken over by the broker, providing users with easy access to investment instruments. Work with the cryptocurrency market takes place in a different format, which, on the one hand, requires the investor to dive deeper into the industry. On the other hand, however, everyone can start working with cryptocurrency. The main thing is to be up to speed on several crucial aspects… We will share them in our new LATOKEN review!
Private keys
When using a cryptocurrency wallet for the first time, you need to understand that it works with two types of keys — public and private. A private key is a secret number that is used in cryptography, similar to a password. In crypto, private keys are also used to sign transactions and prove ownership of a blockchain address. In no case, this key should get to third parties because this way, they can get access to your funds. In addition, these third parties may be crypto scammers. In our LATOKEN reviews, we often write about how not to become a victim of a crypto scam. Everyone who deals with cryptocurrency should know how to secure their funds.
Before choosing a wallet for storing digital assets, you also need to decide on a system for storing private keys. Some wallets only store private keys on the user’s device. In turn, most online wallets prefer to store private keys on their own servers. Unfortunately, this poses additional risks as scammers often target hacking online cryptocurrency wallets.
Working with exchanges
In the cryptocurrency market, in addition to traditional centralized trading platforms (CEX), there are also decentralized exchanges (DEXs) that use a completely different approach to making transactions. Centralized platforms store user cryptocurrencies and act as intermediaries in transactions with assets. To start trading on a centralized exchange, you need to transfer cryptocurrency to the exchange accounts. Decentralized exchanges follow a different work algorithm and do not store users’ cryptocurrency.
In any case, it is essential to stay on an exchange with a large number of users and a good reputation. For example, LATOKEN is a cutting-edge, rapidly growing crypto exchange with over 2 million registered users worldwide!
Phishing
“Beneficial” offers from crypto scammers regularly appear on the Internet. For example, we recently wrote about how one crypto investor lost more than $1 million in Bitcoins by sending them to scammers who promised to double his investment. Such fraudulent projects often use such a scheme, acting on behalf of famous people like Elon Musk, Steve Wozniak, and others.
When sending cryptocurrency to fraudsters, it is almost impossible to return the funds since this is the peculiarity of the blockchain. All crypto investors have equal rights, and there is no administrator on the network who could cancel or suspend transactions. Once again, do your research, stay up to date and be extremely careful before sending your crypto. This is how you will not become a victim of a cryptocurrency scam!
Do you want to learn more about the most promising tokens through LATOKEN Review, and always stay up to date? To do this, just follow us on Medium, LATOKEN Blog, or LATOKEN VCTV channels.
About LATOKEN
- Ranked #2 worldwide in the startup tokens primary market with 220+ IEO’s since 2017.
- Has over 2 mln registered users, over 1 mln Android app installs.
- Is in the TOP 10 of CoinGecko rank by the amount of token pairs and coins listed.
- VCTV, a live streaming panel with high-profile industry leaders, produced over 500 shows to advise traders and investors how to navigate the crypto world with discussions, news updates, and interviews.
- Advisory Board includes former CFOs from JP Morgan and Paypal.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.
