In an era of genius technology, it is very quick, precise, and easy to forge information as well as articles of value and limited count. Even paper money or metal coins issued exclusively by the government are illegally minted every now and then. Therefore, it is a valid and popular question to wonder whether or not bitcoins or any other cryptocurrency can be forged or not? It is both possible and practiced. However like there are some physical differences that can be noticed between legal tender and forged currency, there are no such deformities in a forged crypto-currency. In fact, some crypto-currencies that are not legally registered worldwide through the international monetary and financial control authorities do run through many block-chains and bring inflow to the crypto-market which misbalances the gross generated or ‘mined’ value of digital currencies with the gross out-put flowing. This can in turn cause a heavy loss on the seller’s side of the chain while generating ‘false asset’ on the buyer’s part. Due to the fact that these fake crypto-currencies do not correspond to any international unit of legal tender measures like the US dollar or British Pound, there is no way to recognize the percentage of return earned on the initial buying price. There are several other difficulties faced due to investing in ‘fake’ crypto-currencies like:
1. Loss of initial investment amount:
The circulation of fake crypto-currency in the market causes the value of the individual as well as macro investments to depreciate on their own. It is due to the fact that no record is kept of the initial investment entering the flow of the chain. The chain in itself is a virtual loop of show-casing the same range of profit generation regardless of the triggers from different buyers or sellers. By the time this loop is detected a lot of the investment potential is lost.
2. The exploitation of private information
Many a time, forgers who create these digital currencies do it in order to not only to steal financial assets but also to manipulate the blockchain and extract sensitive personal information like banking codes and contact information. Losing this kind of information to fraudulent agents can lead to exploitation over a long period of time until you are able to render and replace the information safely.
3. Sacking of portfolio
The governments of different nations are aware of these mishaps and keep an eye constantly on transactions that may lead to wreaking havoc on financial assets and information. When they locate such cases both the ‘miner’ and the buyer are accused of fueling the scandal and the portfolio of the trader is sacked to stop further damage. Even if you are aloof from the scenario your portfolio will be disbanded and assets scrutinized under legal jurisdiction. It will take years to recover the same portfolio value and the loss will be unaccountable.
Saving yourself from such fraudulent incidents is somehow easier than you think. It is possible to maintain a healthy trade and portfolio reputation by investing with responsible crypto-trading agencies, DEx platforms, hot-wallets, or A. I operated profit-generating bots for more information you can click here. They provide a safe and convenient way of providing free trade services with full financial safety, end-to-end data encryption as well as portfolio managing services. In many ways Bitcoin makes your trading experience better, here are a few to list:
4. Enclosed data policy:
Every trader’s data is maintained discretely and updated only with the user’s permission. It is end-to-end wrapped in hacker-proof programming codes and disclosed only to such authorities as advised by the government and other legal financial institutions for inspecting laundering or other asset management liabilities.
5. Regulated by FATF ordered rules and customs
All of these trading platforms are bound to be checked under the set of regulations issued and regularly updated by the Financial Action Task Force, the international organization for taking control over cross-boundary monetary transactions working conjointly with several of the world’s leading governments. The currencies that are allowed to enter the hotlines of these trading platforms have to comply with the FATF set of rules and must be registered with the organization within the earliest to omit any chances of fraudulence or laundering as well as safe-keeping the integrity or international trading and mutual business potential