One of the first things you are going to need to do as a new cryptocurrency investor is open an account on an exchange. This in itself could be a little scary for a newcomer. You will need to link your bank account to this exchange so you can transfer funds in order to purchase your cryptocurrencies. Some exchanges it is more difficult and a longer process than others, but all of them will expect you to sign or agree to the terms that if coins ever go missing the exchange is not to blame. If you are anything like I was in the beginning. You will make the mistake of thinking that these exchanges are like your bank, where you keep your work check and your savings the money that you use to live on. I am here to tell you that they are nothing like that bank. And 98% of the crypto Community is fine with that. They want decentralization they want no rules they want no consequences they want no government no governing body no single anything to tell anyone how to run anything. But we all want safety, security and we want our money to be there when we go looking for it. These two ways of thinking cannot coexist. If you want anonymity no governing body and decentralization you will not have rules regulations or Insurance on any lost funds.
One example if you send cannabis coin two a wallet that you did not notice was actually a cannacion wallet you will lose your coins. They will not be sent back to you as undeliverable because you were trying to put one coin in the wrong wallet. Although I believe the technology exists to easily fix this kind of problem by adding one or two numbers or a mixture of numbers and letters no more than two or three to identify each type of Wallet not whose wallet but say a Bitcoin wallet could have a b c in the address a cannabis wallet could have ca1 in the address either way I believe there is a way to identify individual wallets. The point is if you do send one currency to a wallet that is not the same currency they claim that the coin is now lost. But I thought that you could track all transactions with the blockchain? Why does it have to be dragged around with every transaction if you cannot track things? I do not believe the coin is been lost. Fact the matter is without rules regulations or somebody to hold these exchanges accountable you will always have Shady Shady transactions and weird things happening. As a result you the average person and myself will be losing coins eventually. it's not a point of if it is a point of when and how many. I love the fact that the u.s. government does not have their hands all over this particular currency at the moment but exchanges and their practices are leading more and more people into believing that they should be regulated. That is a sad thing the day that they start regulating it will become no different than the American dollar which is a complete joke at this time. No need to get into anyone else's currency because I do not use them but I do read and I know Venezuela would not like their government's hands in their pockets anymore either. So be careful do your research on your exchanges before you use them some people say you should use an exchange that is the most popular but I believe that those exchanges seem to be the ones with the most problems and the most Shady business practices by not even answering your simple emails or questions. I understand they are busy but we are talking about millions of dollars they should hire someone to help. That is my rant for the day I'm not sure if it made any sense but again I am not on here to be a reporter or make a living blogging. I am just an average guy putting my opinion out there. Hope everyone has a great night. talk to you later.
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