USA — With the rise of cryptocurrency, there is also the risk of losing your digital currency because of its decentralized model.<br /><br />Fraud is on the rise for cryptocurrency as anonymous accounts are usually used and there is no way of noticing suspicious transactions, reports Entrepreneur Asia Pacific.<br /><br />Password recovery can also be a problem because of the complex structure put in to supposedly prevent fraud, denying people access to their own account.<br /><br />Hacking is another issue for cryptocurrency. There are a large amount of crypto wallets out there which once hacked, won't ever be able to recover the digital money because of a weak security system.<br /><br />Virtual currency scams is another reason why some end up losing their cryptocurrency, with some on social media offering to send you a 100 Ether coins, or any other digital currency, if you send them just one, reports Bloomberg.<br /><br />As the number of cryptocurrencies available online keep on growing, sooner or later it may have to regulated because of the amounts of problems caused by deregulation of crypto.
