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But the taxation of cryptocurrency does not make them completely legal and they still do not have any set of rules about their working.
Your bitcoin ownership is safely recorded, stored, validated, and encrypted on the blockchain.
It's generally considered safe to exchange cryptocurrency into fiat currency and transfer it to your bank—provided you use a reputable exchange platform to convert it to cash.
make sure you're using a safe crypto exchange app with strong security features.
Scammers are always looking for new ways to steal your money, and the massive growth of cryptocurrency in recent years has created plenty of opportunities for fraud
gnore requests to give out your private cryptocurrency keys. ... Shun enterprises that promise you'll make lots of money. Don't engage with investment managers who contact you and say they can grow your money quickly. Be wary of "celebrities" contacting you.
Gather evidence: Document all relevant information related to the scam, including transaction details, wallet addresses, and any communication you had with the fraudulent entity. ... Identify the exchange: Determine the exchange platform involved in the scam.