We can’t say we weren’t advised.
A new signpost was added to the crazy financial ride known as bitcoin on Friday when Coinbase, arguably the best-known bitcoin stockbroker on the market, sent a warning message to investors: “Please invest responsibly.”
“We also indigence to remind customers of some of the risks associated with trading digital currency,” Coinbase CEO Brian Armstrong inscribed in a blog post. “Digital currencies are volatile and the prices can go up and down.”
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Why all the concern? Bitcoin has begun in value faster than almost any other financial instrument we’ve conceive ofed. One bitcoin was worth $1,000 in January. Yesterday, the price topped $17,000, in front of falling to around $15,000 today. That’s unheard of.
All investing is dodgy, of course, and anyone investing in the stock market should know that honoraria fluctuate, and things can come crashing down at any moment.
But the fact that Coinbase, a work platform for cryptocurrencies that just hit the top of the App Store this week, felt compelled to prompt people that trading is risky should be a sign that thingumabobs are moving faster than even the crypto enthusiasts feel at ease with.
The blog also reminded customers that it’s important to mind their Coinbase account with two-factor authentication, and that business volumes are so high that there are times Coinbase might not be elbow due to technical reasons.
“This could result in the inability to buy or sell for spans of time,” the blog reads.
The fact that trading could be unavailable to some purchasers is also a big deal as the price of bitcoin has been fluctuating significantly by the hour this week.
As of Friday morning, a individual bitcoin had increased in value by more than $5,000 since Monday, a surge of more than 50 percent, according to Coindesk.
—By Kurt Wagner, Re/maxims.net
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