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A large part of the reason why people are getting dodgy about investing in cryptocurrency deals with the wallet problem. Cryptocurrency wallets can easily be broken into, hacked, or even set up as long con scams. Because of how many people trusted the wrong wallet, it’s scary to just put money into certain programs.
We have all heard of scams involving blockchain technology, ICO exit scams, or hackers stealing cryptocurrencies. It’s so commonplace, it’s basically a trope at this point. Most people who have tried to invest in cryptos found themselves on the wrong side of a hacker, a theft, or a scam.
The following are some of the major problems in the cryptocurrency market. By far the biggest issue in the cryptocurrency market is the excessive volatility. The prices of cryptocurrencies on exchange platforms rise and fall dramatically over a short period of time.
Many cryptocurrency exchanges cannot even afford to have their account creation feature open all the time. Such is the demand for entry into the market that trading account creation for new customers is periodically disabled. The average daily trading volume of the market is usually in trillions of dollars.