Can you go into debt with cryptocurrency?
Many people are wondering if they can go into debt with cryptocurrency , and the answer is yes. However, as a loan should be treated with care, it's important to understand how seasoned users are managing their finances until the new currency matures. The blog discusses some of the pitfalls experienced in ICOs and other cryptocurrencies: what risks to look out for and ways you can mitigate them. Playing it safe with ICOs As cryptocurrency was a completely new concept, it was inevitable that some ICOs were scams. The question of whether a particular coin is a genuine investment opportunity vs an attempt to lure in innocent investors' hard-earned cash has divided the cryptocurrency community, and there are still heated debates online. As more and more users enter the market , there are fewer investors willing to gamble on vaporware, which means that companies sponsoring ICOs have to be very careful about what they present. The most obvious advice is to do your homework before y