There is a general feeling that, cryptos space has remained rather narrow because of the low awareness about cryptocurrency. An Australian study threw up some very interesting findings on this issue. Apparently 80% of Australians surveyed, were aware about cryptos but, a mere 1% of that group actually used cryptos.
This is surely true of many nations and will remain true for a while. There is no doubt that, many people feel that, cryptos are not safe. This obviously does not mean unsafe in terms of being speculative alone. News about crypto scams unleashed by scammers and the blatant way in which scammers get away, is surely not something that inspires confidence.
Fair speculation is also true of conventional stocks but, company directors who resort to unlawful means to push up stock prices are often caught and jailed. This sadly does not happen in the crypto world, anonymity and lack of legislation are generally to blame.
Crypto analysts and reporters rarely highlight issues related to crypt security. Entrants to the crypto community, should have access to unbiased information related to crypto scams and exchange security related issues. Crypto media has more or less degenerated, into a paid market making activity.
Crypto exchanges should publish detailed videos related to the opening of accounts, the degree of risk associated with trading cryptos etc. Account registration should be a clear process and information submitted, should be carefully checked. Crypto laws might require exchanges to disclose user ID information to track crypto crimes, this is something that exchanges should willingly comply with.
Cyber crime is not limited to cryptos alone, conventional banking and even private social security systems, are targeted by online crooks. What is lacking in crypto space is a set of rules, regulations and laws. While much is happening in recent times related to cryptocurrency laws, it is important that these laws have significant uniformity across the globe.
At the end of the day crypto trading cannot remain confined to a narrow space – where operations work more like a glorified casino with loose safety standards. Investors need to come from all walks of life, the necessary environment will have to be created for this to happen.
GLITZKOIN: Glitzkoin is developed on the Stellar blockchain. The project includes the multifaceted GTN token that currently trades actively on 3 crypto exchanges (Cointiger, Stellarport and Dobitrade). Glitzkoin makes a direct connect to the multibillion dollar diamond industry. The project is promoted by second generation diamond veteran Navneet Goenka, it aims to improve productivity and market scope for the glittering industry. A comprehensive diamond trading platform (DiaEx) is part of the project, it supports both B2B and B2C trade in diamonds. As mentioned above GTN is traded by crypto traders on three exchanges, it is also designated as the mode of payment on DiaEx.