Warning of risks
These investments are subject to risk
- Bitcoin rate volatility: The price of the cryptocurrency can fluctuate significantly, which can greatly affect the profitability of mining and investments. Do not make hasty decisions.
- Technical problems: Bitcoin mining requires specialized equipment that may fail or become obsolete. In addition, sometimes there may be difficulties connecting to the internet, the mining pool or power outages in the data center. This is usually resolved quickly.
- Cybersecurity: Cryptocurrency wallets and mining farms are at risk of cyberattacks and hacking. Use antivirus and don’t click on unknown links. Check website addresses for spoofing from a clone.
- Regulation: laws and regulations regarding cryptocurrencies can change, which can affect the legality of mining and owning bitcoins. In this case, research the laws of your country of residence to avoid getting caught up in legal nuances.
- Risk of losing access to your wallet: if you forget your password or lose access to your wallet, you risk losing your bitcoins forever. Keep your cid phrases on physical media in a private place.
- Unpredictable Factor: Black Swan – which we cannot predict.