Our lives as well as our technology are undergoing quite an interesting and dynamic development. Every day we receive more and more new features. We see more technological progress penetrating into all areas of our business, especially in banking and financial transactions.
Cryptography is used for privacy payments in the centralized DigiCash system, first used in 1990. In 2009 the term "cryptocurrency" appeared the first time, founded by Satoshi Nakamoto based on the peer to peer "Bitcoin" payment system.
And if a few years ago only a narrow circle of people knew what a cryptocurrency or Bitcoin is, now it is known around the whole world. Today Bitcoin reached a new historic high and amounted to $12,499; for reference, in 2009 for $1 you could buy 1309.03 BTC.
The primary cost is the cost spent for producing the cryptocurrency - electricity, and the secondary cost is determined by demand. Since cryptocurrencies every day are becoming increasingly popular, their value increases.
On October 5 2009 the first auction for Bitcoin was launched on the stock exchange New Liberty Standard. Since that time, an entire dedicated exchange for cryptocurrencies was created which, unlike the stock exchange, works seven days a week. At the moment more and more trading platforms allow trading Bitcoin and even create futures for the cryptocurrency, and in the middle of next year these futures will launch on Nasdaq.
Of course, technology is progressively developing in all spheres, and fraud in this area is no exception. There were multiple attacks by hackers at exchanges themselves, sometimes to bring down the price of the currency due to its vulnerability, and on the wallets of ordinary users.
However, this is not the only problem faced by fans of cryptocurrencies. Recently on Google Play about 10,000 users have downloaded the fake web application Pololniex, which provides a kind of "possibility of exchanging" cryptocurrency, but in a review written by the users themselves as soon as you enter your credentials of its crypto purse into the app, you lose all of your funds. Thus, the program only serves to collect personal information and steal money.
So, too, the fraudsters move with the times and do not miss an opportunity to cheat you. Be careful to trust only authorized sources.
