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It's possible to get rich by purchasing cryptocurrency in 2021. But you might also lose all of your cash. How can both be real? Purchasing crypto possessions is risky but likewise possibly exceptionally lucrative. Cryptocurrency is an excellent investment if you want to gain direct exposure to the demand for digital currency, while a much safer but potentially less profitable alternative is to purchase the stocks of business with exposure to cryptocurrency.

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Image source: Getty Images. Is cryptocurrency safe? Numerous factors make cryptocurrency not entirely safe, at least presently, while other indications are emerging that cryptocurrency is here to remain. Cryptocurrency dangers Cryptocurrency exchanges, more so than stock exchanges, are susceptible to being hacked and becoming targets of other criminal activity. These security breaches have resulted in substantial losses for financiers who have had their digital currencies taken.

Cryptocurrency exchanges such as (NASDAQ: COIN) make it fairly simple to buy and sell crypto properties such as (CRYPTO: BTC) and (CRYPTO: ETH), but numerous individuals don't like to keep their digital properties on exchanges due to the abovementioned threat of cyberattacks and theft. Some cryptocurrency owners prefer offline "freezer" alternatives such as hardware or paper wallets, but cold storage comes with its own set of challenges.

There's also no guarantee that a crypto project you invest in will prosper. Competitors is fierce among thousands of blockchain tasks, and jobs that are no more than scams are also widespread in the crypto market. Just a small number of cryptocurrency tasks will eventually thrive. Regulators may likewise crack down on the entire crypto market, specifically if governments start to strongly see cryptocurrencies as a risk instead of simply an ingenious technology.

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Much of the tech is still being established and is not yet thoroughly shown in real-world scenarios. Cryptocurrency adoption Regardless of the fundamental threats, cryptocurrencies and the blockchain industry are regularly growing more powerful. Much-needed monetary infrastructure is being built, and financiers are increasingly able to access institutional-grade custody services. Professional and individual investors are gradually getting the tools they require to manage and protect their crypto properties.