O n May 11 2020, the crypto world experienced the phenomena knows as Bitcoin halving . For those who are still a little looney-toons regarding this phenomena, here's the lowdown . Moral of the story is that, as the Bitcoin supply decreased and it's 21 million market cap slowly approached, it was widely accepted that the low supply and high demand will increase the price of the cryptocurrency back to its previous highs. Basic business right? Wrong! Source: Equity Trust Company BTC prices actually fell and after briefly holding steady, are only just rising above the 10000 USD range. Surprise eh? Well, we are not done yet. Because while the most valuable crypto coin wasn't showing it's expected gains, some other cryptocurrencies shot to outer space. There was no SpaceX rocket nor a Tesla Roadster involved. These "altcoins" bumped up in their market value thanks to the entire underlying system of cryptocurrency: investor speculation. But what exactly are these ...
So you actually did it. You read more about Bitcoin Halving. You felt now was the time for you to shine and decided to invest your money into the crypto market. You thought of buying some Ethereum (ETH), maybe a little Ripple (XRP), but you said 'Nah. To hell with it', and decided to go for the real o.g. Bitcoin (BTC). Source: CoinDesk You signed up with a respectable broker who and now you have some BTC stored in a fancy digital wallet. Life is good until I tell you that your wallet isn't secure. You panik, yes, panik. "Really?", you say. And I'm like "Yes, really. You could lose all your holdings online in a snap ". Your panik intensifies. Source: Twitter Mon Dieu! My money! Non! While it's understandable to worry in a weirdly french way (unless you are french...in that case 'Bonjour'), do remember that no security is always 100% safe. Blockchain tech is the safest that is out there, but that doesn't mean that there aren't big...