What is cryptocurrency and how does it work?

Cryptocurrency is a decentralized digital currency that uses cryptography to secure transactions and ownership information. Cryptocurrency transactions are recorded in a digital ledger called a blockchain. The concepts behind blockchain technology make it nearly impossible to hack into a blockchain.

Are cryptocurrencies hacked?

Cryptocurrencies themselves have resisted hacking attempts. However, there have been several 51% attacks on cryptocurrencies like Bitcoin Satoshi Vision (BSV), Bitcoin Gold (BTG) and Ethereum Classic (ETC). 3 4 Can Someone Steal My Cryptocurrency?

How are cryptocurrencies stored?

Usually, cryptocurrency is stored in crypto wallets, which are physical devices or online software used to store the private keys to your cryptocurrencies securely. Some exchanges provide wallet services, making it easy for you to store directly through the platform.

Is a cryptocurrency investment account a scam?

If you log in to your “investment account,” you won’t be able to withdraw your money at all, or only if you pay high fees. A scammer pretends to be a celebrity who can multiply any cryptocurrency you send them. But celebrities aren’t contacting you through social media. It’s a scammer.