Today, the world counts 241,700 crypto millionaires and 36 crypto billionaires. Over the past year alone, the number of crypto millionaires has increased by 40%, while the number of billionaires has grown by 29%. As of June this year, global crypto capital reached 3.3 trillion USD – a 45% increase compared to the previous year.
This unprecedented expansion of the crypto market offers new opportunities for financial freedom. However, it also introduces risks that every user must clearly understand. Crypto remains safe only when individuals recognize the boundaries of their own responsibility.
“The last person protecting your money in the crypto market is you. And the formula for staying safe consists of three elements: knowledge, caution, and a cool head,” emphasized Vigen Arushanyan, founder of the Coinplus crypto wallet, at the YouthIGF Armenia conference.
Discussing the fundamentals of blockchain, cryptocurrencies, and digital wallets, Arushanyan explained that in a decentralized blockchain, transactions are recorded in sequential “blocks,” accessible to the entire network. These records cannot be altered or deleted, which strengthens trust in the system. The crypto market itself develops on the basis of this technology, with Bitcoin accounting for nearly 60% of all circulating cryptocurrencies. Although crypto transactions are fast, borderless and free of intermediary fees, they leave no room for mistakes – once funds are sent to the wrong address, they cannot be recovered.
A digital wallet, typically an app, stores payment cards, crypto private keys, or other digital assets. Losing access to the wallet or its keys means losing the funds. Today, thanks to digital wallets, 4.4 billion people can make NFC/QR payments, transfer funds and manage assets without using cash or physical cards.
Arushanyan also emphasized the most essential rules in the crypto world:
- Never share your seed phrase
- Do not open suspicious links
- Do not trust “quick profit” or “free crypto” schemes
- When making a transaction, always start with a small test transfer
- Avoid storing large sums on exchanges
As the cryptocurrency and blockchain industry continues to grow into a significant economic force, its safe use depends above all on user behavior and awareness.
