Co-founder and CEO of popular crypto exchange- Paxful, Ray Youssef has rolled out a consumer tips on increased security and accountability while storing bitcoin.
Youssef made his announcement via a PR on Oct. 29.
“Bitcoin is secure but sometimes the way we use it is unsafe. We have to treat bitcoin like cash and protect our personal information and passwords the same way we do when we use an ATM or shop online. Once your bitcoin is in the hands of hackers and scammers, it is irreversible, so to have the necessary safeguards in place is critical.” adds Ray Youssef.
Whilst the vast majority of cryptocurrency traders are safe, in recent years, the sector has not proved completely immune to scams and fraudulent transactions. With the cryptocurrency industry still fairly new, scammers prey on users who lack the appropriate awareness in this space.
Youssef concludes; “For more and more people all over the world, P2P finance is their only hope for financial inclusion and empowerment. While it’s not possible to completely eliminate the risk of crypto fraud and theft, by taking a few simple precautions you can substantially reduce your chances of becoming a victim by following Paxful’s top tips for safe trading.”