How safe is Bitcoin? ✅

[allaking]

how safe your bitcoin becomes all depends on your effort and attention you give to your wallet. exposing you key will expose your bitcoin to0

[icecream sandwich]

Bitcoin is well known for its safety. The biggest dangers are mainly hacker attacks on third party services, through which one accesses his bitcoins. These are above all the various crypto exchanges on which the users have created accounts or the bitcoins stored locally in wallets.

Basically, either the exchange itself is directly attacked, so that data can be stolen there. The biggest known incident was the hacker attack on Mt.Gox about 4 years ago, when a huge hack of Bitcoins was looted. This was also the reason for the decrease of Bitcoins 2014.

Today, the exchanges have improved to prevent such occurrences, because it can come to hacks and the trade is severely restricted or even stopped completely. This often leads to strong price fluctuations, mainly caused by so-called panic sells.

An equally large attack surface offer individual mistakes that can easily be prevented. Individual mistakes are the responsibility of individual users and are often:
- insufficiently secured user accounts due to weak passwords
- Login on a phishing site
- send the private keys to a scammer

If a stranger has once gained access to your own accounts, he can quickly transfer the entire balance to another wallet and due to the anonymity, it is no longer clearly comprehensible. For such a kind of total loss helps therefore only a careful handling with your personal user data.

But as long as you follow to the usual security rules and pay attention to secure passwords, which you should also change from time to time and do not use the same password on many other pages, an accident normally cannot happen.
The high demand and high competition between exchanges has also contributed to the improvement of safety standards.

How make you sure to safe your Bitcoins?

Indeed bitcoin is genuine digital money it is protected to utilize, sincerely I am utilizing bitcoin as a component of my business in my general vicinity that gives me and my clients a major fulfillment each time I utilized this currency.No words that can clarify how fortunate every one of us who are utilizing and acquiring with this currency.Suggest that we ought to be cautious just in the wallet we used to store our bitcoin in light of the fact that there are some wallet that taken away your bitcoin once they gather or hold immense measure of bitcoin.

[Adam Waters]

General precautions you can take for safer bitcoin investments are:

Store your bitcoins safely, a hardware wallet like Ledger Nano S is the safest option( Hardware wallets are disconnected from online network)
It’s better not to invest when the bitcoin prices are skyrocketed and when it is showing a overall decreasing pattern
Safety is the first concern, so never misplace or lose your bitcoin wallet private key
Exchanges get hacked all the time( Search up the recent hack on Korean exchange Bithumb), so i’m mentioning again, use a safe hardware wallet

[Ava Duvall]

Everyone is scared because it is purely digital- it can easily get lost or stolen. But it also can be safe in analog form.  I have heard of Paper wallets. that way you can store you bitcoin or any digital currency off line, protecting it from getting it stolen or having a virus get to it .

[Charles Warren]

I know that it is safe, because I work with securing and analyzing blockchain applications and currencies. Blockchains are impenetrable and thus are safe to investors (no chance of losing your Bitcoin).

If you mean from an economic standpoint, people speculate about Bitcoin climbing to a million dollars per Bitcoin and about Bitcoin falling to oblivion.
Truth is thats all people do, speculate. None of them know for sure.

Personally I see a huge potential in blockchain cryptocurrencies and applications. Thats why a year ago, I bought massive amounts of Ethereum and 21 Bitcoin. Ethereum grew 2500% since I bought it and Bitcoin grew around 1000%.

[Davido1174]

In my opinion, the best way to safeguard your bitcoins is to buy a cold wallet( either ledger nano or trezor) and store it there. This would protect your bitcoin from theft up to 99%. This is just the best way I know you can protect your bitcoin

[xamxam]

The safeness of bitcoin is depends on the people who hold it because some wallet has been hacked because out of their mind they click some fishing site when they open their account. But in terms of safeness, bitcoin is safe to invest than other investing company that you did not know if it is legit or not.

[pocketfullofpoke]

In the name of investment, bitcoin is not really safe as its market price is very volatile. You may earn big, you may also lose big so you need to be a risk-taker when you invest in bitcoin. As to its security, no system is really secure if the hands of the owner is very careless with its assets.

[edwardsolo16]

Bitcoin is always safe because it is the first decentralized digital crypto currency, if you dont give your private key to another person your bitcoin is always safe

[dario.93]

In my opinion, bitcoin is very safe. Bitcoin uses a decentralized system that allows us to control our own bitcoins. No third party has the right to interfere in our affairs in using our own bitcoin. Then bitcoin offers anonymous facilities. This anonymity allows us to transact safely and confidentially. We can use a false identity in transacting so that the state authorities can not track us. Other than, this anonymous facility is useful to avoid irresponsible parties in using or stealing our real identity.

I agree with your mind. For real time it is in the most safest system in the world I ever sow. If you want to save your money you must work with Bitcoin.

[INAQAMAQQU]

I think it's very safe but it depends on how strong the security of your exchange where you save your bitcoin.

[tintinbongs]

Bitcoin is actually more secure than most other financial systems. Taking the time to learn about how Bitcoin works and investing in a secure wallet is essential in keeping your Bitcoin safe.

[Farrahyap27]

For me every kind of valuable commodity requires some sort of protection. And so is the case with your hard earned bitcoins. The safety of the bitcoin has been a major concern for so many of us. People are always worried that their coins may not be exposed to the risks of hackers or being stolen by someone. So it is always preferable to use some reputable wallets to store your coins. It is also advised not to share your private key information with anyone, I repeat anyone!! Sometimes the information may get leaked by any chance or by mistake, unknowingly by a friend of yours, so it is always better no to risk your confidential information anyhow.

[nurulhmani1280wat]

Yes, Bitcoin is pretty secure and the server upgrades are incredible, as long as your main keyword is safe. Bitcoin is one of the best and safest places to save your own personal money.

[Jian_Liux]

Bitcoin is very safe and trustworthy, just sometimes we are negligent and provide an opportunity for thieves to commit the theft of bitcoin that we have. If we can keep both the password of the bitcoin account we have and can avoid sites that mislead or deceive us to enter into it, then we will avoid the theft. Until now I use blockchain as a place to store bitcoins and never a problem. For that should be carefully and careful in doing something related to bitcoin account that we have to avoid theft.

[mitchr4]

Bitcoin is very safe and trustworthy, just sometimes we are negligent and provide an opportunity for thieves to commit the theft of bitcoin that we have. If we can keep both the password of the bitcoin account we have and can avoid sites that mislead or deceive us to enter into it, then we will avoid the theft. Until now I use blockchain as a place to store bitcoins and never a problem. For that should be carefully and careful in doing something related to bitcoin account that we have to avoid theft.

Not only the user's negligence, the hackers can do any thing sometimes they are smarter than us so easily take the money we have. It's just that people have to stay alert in saving their money.

[manustroll]

10 year old bulletproof security - That's how safe Bitcoin is.

[pltgksl]

i think security is the most important issue about cyrptocurrency. So everbody have to be careful and everybody should get a guarantee

[Saldom12]

Bitcoin if I think it's very safe because it has a wallet like blockchain that I think is safe and As long as your private key is secure, your bitcoin is safe.

[landyndanaju]

We all have private keys but that can only be stolen if someone literally steals the file or either you gave it with the passphrase.