When you’re new to cryptocurrency and Bitcoin you may be a bit sceptical and wary. It’s totally understandable, especially if you don’t know how Bitcoin works. So is Bitcoin safe to use? Yes, it’s probably one of the safest ways to send and receive money. As long as you understand a few key points.
Bitcoin has been around for over 10 years now. Everyday it gets stronger and stronger and is far past the point where it could be attacked by hackers.
You see, Bitcoin runs on a distributed ledger called a blockchain. Bitcoin’s blockchain is the safest compared to other cryptocurrencies. Bitcoin’s blockchain is spread over hundreds of thousands of computers around the world. This means for hackers to attack it, it would take an impossible amount of computing power to hack it.
Bitcoin is 100% safe. The problems arise with the users, their computers and hackers or scammers who may be targeting them.
If you don’t have a good antivirus software on your computer your Bitcoin is at risk. This is exactly the same for credit cards, debit cards and your bank accounts.
You should take all the same precautions when using Bitcoin as you would when you use your credit cards online.
The main difference with Bitcoin is that YOU ARE THE BANK. What do I mean? Well, if you lose your bank card or get locked out of your account, there’s a number to call right? There’s someone to help you. With Bitcoin there is nobody to call and there is nobody to help you.
If you lose your password to get into your wallet, your Bitcoin is locked away forever. If you send your Bitcoin to the wrong address it’s gone forever and you’re not getting it back.
Bitcoin is Safe – Are You?
Bitcoin is the safest crytocurrency on the planet. The question is are you safe to use it? Educate yourself. Learn how to keep your Bitcoin safe.