When crypto trading was relatively new, very few people thought that it would make it big. However, crypto trading did reach great heights and it would be fair to say that it has still been going strong.
One of the reasons that made people doubt digital coins, to begin with, was the fact that they thought that they would be vulnerable to hacks. They thought this because online hacks were quite common during that time and to some extent, they still are now.
Despite these issues existing, crypto trading still flourished and the investments in it increased tremendously. Unfortunately, however, such hacks did take place and a large number of people ended up falling prey to them.
In some cases, investors even ended up losing thousands of dollars, which made people fear crypto trading, as they thought it would fall flat. While the crypto space did not fall flat in any way, there have been quite a lot of cases over the years where people fell prey to hacks and frauds.
As you would expect, people made a lot of complaints about the way crypto trading was happening. Sure, there were loads and loads of profits, but there were also plenty of situations that made crypto trading unfavorable to a large number of investors.
Because of this, many people ended their endeavors of investing in digital currencies and looked for other alternatives. This was a massive blow to the world of crypto trading as many people ended up leaving. Eventually, however, a large number of regulatory authorities started listening to people and paid emphasis to how things were done.
They were particularly vigilant on how crypto exchanges were operating and what kind of trades were happening. As time passed by, governments also started to realize that crypto trading was not the devil they initially thought it would be.
Instead, they came to realize that it was incredibly profitable and offered a great deal to anyone who invested in them. Because of this, governments started to come up with regulations in order to make sure that anybody who makes digital currency investments remains safe.
Once these rules and regulations were laid down by governments all over the world, many people have been wondering if crypto hacks are as prevalent as they used to be. Well, the straightforward answer to that question is no.
It would be fair to say that regulating crypto has bought about a change that the crypto world required greatly. It is something that very few people thought would happen, but now it actually has. While hacks still happen, they are not as common as they used to be initially.