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Bitcoin red coinmarketcap10 Things to Know Before Buying Your First Bitcoin - CoinMarketCap Blog
At press time, Twitter has reportedly blocked the inclusion of Bitcoin addresses in tweets. The hack initially affected only crypto Twitter, with the verified accounts of crypto exchanges Binance, Coinbase, Kucoin and Gemini leading the first wave. Only one media outlet was hacked, crypto media first mover Coindesk.
The attack began with a crypto celebrity AngeloBTC, who boasts only about , Twitter followers, and ended with celebrity celebrity Kim Kardashian, who has close to 66 million. A recent article from Cointelegraph that traces the addresses involved has found that the hacker s are in the process of sending their funds to an address that had previously sent money to BitPay and Coinbase — and the existence of past transactions on two large exchanges mean that it may be possible to find out the identity of the hacker s.
The address that now contains all of the funds from the hack, according to Cointelegraph at press time, has received For one, this means that you should be careful about trusting the authenticity of messages on Twitter, especially those from verified accounts.
The hacker s has shown the world that a Twitter blue checkmark is not as trustworthy as you might have thought. Second, do not fall for crypto scams online! CoinMarketCap recently published a blog post on how to avoid crypto scams , which lays out several schemes that people use to trick others into giving up their hard-earned cryptocurrency.
While giveaways do happen, take a second to wonder how someone could send you double your money, for free, even if the proposal does seem to be coming from former president Barack Obama. And last, learn to always use encrypted services to send any personal or private information online. On a darker note, the hacker s could have potentially started a war, an economic crisis, a stock crash, depending on what they tweeted from which account — but thankfully, this time, they stuck to crypto.
The future is Crypto and there are many honest Crypto platforms who really send earnings and are not a scam. So be careful what your saying…. Maybe the real objective was that Twitter will no longer allow a user to post a bitcoin address. Who benefits? What Actually Happened?
Who Was Affected? What Does This All Mean? Share this: Twitter Facebook. The massive price increase in came after a halving in late You can use this knowledge to determine when the best time to buy or sell Bitcoin might be, although with Bitcoin, nothing is truly predictable!
There are ways around this, though. You can even find some Bitcoin wallets that change your address for you. More stores are starting to take the currency, but your options are still somewhat limited. Just in case you ever want to spend your Bitcoin on something, though, you should know your limitations. While on the subject of limitation, you should also consider insurance. Without this protection, you need to be extra careful in handling your Bitcoin.
You can find some private companies that offer cryptocurrency insurance, but they may not be as reliable. Like any other investment, the IRS taxes cryptocurrency , so make sure you keep a record of your bitcoin holdings and transactions. In the eyes of the IRS, Bitcoin counts as personal property, so general transaction taxes apply. Perhaps the most important thing to understand before buying Bitcoin is that the currency is still developing. Understand that there are still some kinks in the system that have yet to be worked out.
Over time, Bitcoin will become more secure and reliable, but in the meantime, take care while using it. You stand to gain a considerable amount from investing in Bitcoin. Given its unique nature and developing status, though, you should go into it with understanding and caution.
Understand these aspects of the cryptocurrency before you dive into buying and selling it. With this knowledge, you can invest in Bitcoin wisely.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. I think the biggest thing missing from this list is you can buy fractions of bitcoin. This site uses Akismet to reduce spam.
Learn how your comment data is processed. Bitcoin Insurance Is Limited While on the subject of limitation, you should also consider insurance.