5 Things to Watch Out for Before Jumping Into Digital Currency Modest Money11 Comments

The following is a guest post about digital currency. If interested in submitting a guest post, please read our guest post policy and then contact me.

The rising price of the digital currency called BitCoins is giving non traditional currencies significant media attention.

BitCoin exchange rates have risen from a few dollars to over a thousand dollars in the span of a year. It has also gained media exposure because of the FBI takedown of the Silk Road, an anonymous marketplace where people can buy illegal substances using BitCoins. Governments are also starting to take an interest now that companies have started accepting digital forms of currencies in exchange for goods and services.

It is almost a certainty that BitCoins, or something like them, will eventually gain mass market adoption so it is a good time to start becoming familiar with the technology and perhaps even trying them out. However one must be careful by paying attention to these areas:

Most people turn regular currency into BitCoins by purchasing them on an exchange. These exchanges have been the target of hackers, and as a result, some exchanges have had significant losses. Make sure that you transfer your money to your local wallet…

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By : Adam | 6 Feb 2014
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