Elizabeth Warren Thinks That Cryptocurrencies Are "Easy To Steal"

It seems that cryptocurrencies are being actively bashed and shunned by individuals that clearly are not so familiarized with the theme in a technical way. This trend started earlier this year when Warren Buffett, the famous legendary investor, charged against cryptocurrencies by saying that they were “rat poison squared”. But now one of the highest profiled senators and a probably the next Donald Trump’s contender for the Presidency of the United States, Elizabeth Warren, has taken a stance or at least voiced its thoughts about cryptocurrencies, albeit in a negative way.
Elizabeth Warren, the Democratic senator from Massachusetts, has said yesterday that she thinks that cryptocurrencies are easy to steal and also that many businesses have been scammed or robbed through the use of them. Warred referred to this subject in a Senate hearing about the whole theme of the cryptocurrency usage and how will lawmakers follow this whole issue that is at hand.
His opinions are in the same side that the ones Nouriel Roubini had voiced in a written testimony sent to the US Congress recently, where he was very vocal, saying that “cryptocurrencies are the mother of all scams”, albeit she did not attack the cryptocurrency movement so bluntly.
The idea of cryptocurrencies being easy to steal is a product of all the hacks of very important cryptocurrency exchanges that have been happening this year. And all those headlines have influenced peoples minds into thinking that really cryptocurrencies are easy to steal.
But, hacking exchanges is a tough job and needs expertise and qualified people to do the job; is not easy to crack the security of an exchange. The reality is that cryptocurrencies are very secure when compared to other payment instruments, even credit cards.
Cryptocurrencies have been designed from scratch to be as secure as possible compared to credit cards and cash. If you are getting mugged, the first thing that is getting the robbers attention would be your cash and valuables. Also, credit card fraud has been on the rise lately, and a whole industry of techniques have been developed just for this objective.
But cryptocurrencies are on the safe side of things if you lay low and store them in a private wallet, that is, one that is being kept just by you and not by an exchange or an online service such as Coinbase.
Nonetheless, the idea of cryptocurrencies being pretty insecure has been implanted on the head of even the most successful politicians like Elizabeth Warren. This will surely be of importance when they finally take the determination of regulating cryptocurrency in the near future.