My Question to Crypto users about its security

[BlackHatCoiner]

Crypto is praised as currency of future, 100% secured way of transaction. my question is how?

No it isn't 100%. It's a lot, but not 100%.

-If you have money in bank or invested in stock or somewhere else regulated by government and you dies, bank/stock exchange will contact the nominee when the account goes inactive. but if a person who hold crypto dies, nobody will know about this so the money is lost forever. if the person decides to share the crypto details with someone then its not really a "secured" currency.

Why should he shared it with someone? If you talk about inheritance, then yes, there should be a trust between the family, otherwise, no inheritance. Bitcoin was not designed for that purpose. Does gold gets inherited somehow? If yes, then the same way with bitcoin, but instead of gold you can leave a paper.
(Just to know there have been thousands of discussions about bitcoin inheritance, here on bitcointalk)

-If someone stole money from your bank/stock/credit card account, it can be tracked where the money went and can be recovered by filing complaint with your bank or authorities. but if somone steal your crypto there is no way to get the crypto back.

Yes, if someone steals your coins, you're done. Bitcoin is for smart people. You are fully responsible for your actions. Banks have a middleman, cryptos don't. You can't have one's cake and eat it too.

So how is this a currency of future, did anyone asked these question before?

Look, you're reading a lot of different opinions. And that's okay, because you're in the internet. So read my opinion as well:
Bitcoin is not the currency of the future, but far away from it.

[Shasha80]

You can't compare the security of Bitcoin with a bank, because they are different. Because the bank is centralized, they manages
security for customers, then Bitcoin must be the user who controls security. Because Bitcoin is a decentralized that no one can control.
So most of the people who lost Bitcoin, due to their own carelessness in safeguarding their Bitcoin. Then regarding inheritance in Bitcoin
there are many topics in this forum that discuss it, you just have to look for it.

[noormcs5]

There is enough logic in your words.  If the bank loses money, there is a chance to get it back, but once the cryptocurrency goes into someone else's account, it is impossible to get it back if he does not want to pay.  Again, if someone dies, what will happen to his accumulated cryptocurrency?  One of my suggestions here is that you can keep your password or private key in a safe place.  So that your next generation can take your money using this private key.

First question is that why would our funds send to wrong address ? Those who are using the crypto currencies, should double check the sending address. It just take a little attention and you will never send it wrongly.
Secondly, you should tell your spouse about the private key, so in case you die, the bitcoins can be used by the other members of the family.

[shield132]

Crypto is praised as currency of future, 100% secured way of transaction. my question is how?

-If you have money in bank or invested in stock or somewhere else regulated by government and you dies, bank/stock exchange will contact the nominee when the account goes inactive. but if a person who hold crypto dies, nobody will know about this so the money is lost forever. if the person decides to share the crypto details with someone then its not really a "secured" currency.

-If someone stole money from your bank/stock/credit card account, it can be tracked where the money went and can be recovered by filing complaint with your bank or authorities. but if somone steal your crypto there is no way to get the crypto back.

So how is this a currency of future, did anyone asked these question before?

Btw this question was asked to Ognasty and he said that he had plan about it, would be glad if he posts here too.
Btw crypto wasn't meant for that. Main idea behind it was to get rid of any 3rd party services. It has it's pros and cons like everything. Bitcoin offers control on your funds, what's more secure than this? Bank controls your account, they can freeze it at any time but no one can freeze your bitcoin account so you have to consider this too. Also it offers better anonimity than traditional banking.
I wouldn't blame bitcoin, it's a great thing and invention.

[kayvie]

Crypto is praised as currency of future, 100% secured way of transaction. my question is how?

-If you have money in bank or invested in stock or somewhere else regulated by government and you dies, bank/stock exchange will contact the nominee when the account goes inactive. but if a person who hold crypto dies, nobody will know about this so the money is lost forever. if the person decides to share the crypto details with someone then its not really a "secured" currency.

-If someone stole money from your bank/stock/credit card account, it can be tracked where the money went and can be recovered by filing complaint with your bank or authorities. but if somone steal your crypto there is no way to get the crypto back.

So how is this a currency of future, did anyone asked these question before?

-That's true, if a person who holds crypto will die, no one will know about his crypto and will lost forever. But as you have said, he can share the details with someone really close to him, it is still secured as long as that person will really be trusted.
-If your money was stolen, the one who is responsible is the owner of the crypto. We should always try to do everything to secure our crypto and don't let anyone stole it. Even in banks, there are robberies and credit or money being stolen. It just a matter of how we suppose to secure our money.

[lovesmayfamilis]

My opinion is that before using cryptocurrency, you need to be at least a little technically prepared. Statistics tell us that about 28% of bitcoins are lost forever

How this happens can be easily answered.
Keys to wallets are lost, incorrect transactions are sent, and of course, if something happens to the owner, then all data is also lost.
It is corny to talk about what the forum has described thousands of times.
But there is a good rule of thumb that if you want to take care of preserving your assets, you need to put in as much effort as possible.

[jrrsparkles]

Crypto is praised as currency of future, 100% secured way of transaction. my question is how?

-If you have money in bank or invested in stock or somewhere else regulated by government and you dies, bank/stock exchange will contact the nominee when the account goes inactive. but if a person who hold crypto dies, nobody will know about this so the money is lost forever. if the person decides to share the crypto details with someone then its not really a "secured" currency.

-If someone stole money from your bank/stock/credit card account, it can be tracked where the money went and can be recovered by filing complaint with your bank or authorities. but if somone steal your crypto there is no way to get the crypto back.

So how is this a currency of future, did anyone asked these question before?

If someone can access your funds then how you can call it as safe? If it is your money then you only needs to access it if you wanted to give it to your family then give it to them if they are trusted,if they are not trusted enough then why need to give money to them?

[Serious475]

In some instance you have a point too but the bitcoin is not a fully secured still the most case scenario of hacking and losing of bitcoin is because of the users too.

There are some factors of losing their coins.
1. Doesn't store the seed phrase in a safe place.
2. Public their accounts.
3. Sharing of account.
4. The password is saved.
5. The account is automatically login.

Also you can track your transactions to blockchain.

[imstillthebest]

If someone can access your funds then how you can call it as safe? If it is your money then you only needs to access it if you wanted to give it to your family then give it to them if they are trusted,if they are not trusted enough then why need to give money to them?

they get access because you let them but the access is limited to your trust network to ensure that cryptos are safe .

-If you have money in bank or invested in stock or somewhere else regulated by government and you dies, bank/stock exchange will contact the nominee when the account goes inactive. but if a person who hold crypto dies, nobody will know about this so the money is lost forever. if the person decides to share the crypto details with someone then its not really a "secured" currency.

crypto exchange and some crypto wallets are also regulated or centralized  and they can do the same service like what you decribed above  . and how do you know that no one will know if the crypto owner dies ? what if they already tell their access to the people that they trust the most  . sharing details can also happen on banking or on other regulated platforms and not just not crypto but this does not mean that they are not secure .

[CasherUp]

Hi, how are you? It's simple, my friend, your bitcoins are protected in a wallet that has a private key and you can place the 2fa to guarantee its security, now if you create a wallet on a third-party platform that platform or it can become a scam or it can simply be hacked, greetingsBTC

[isaac_clarke22]

~

I took the word "security" in the other way, as I thought it was about the risk of getting hacked. 
Before the person dies, he/she should just give the private key to who will inherit the coins. It's not lost forever if you take responsibility of YOUR coins.
It's YOUR coins, therefore you control it to where it will go right now and to the future (well if you aren't using online wallets which is a different discussion). What do you mean by not really "secured" currency? If I don't give my private keys to anyone, it's secured to me. Before I die I would give the private keys to someone I trust and it will be secured to him.

[worldofcoins]

~

I took the word "security" in the other way, as I thought it was about the risk of getting hacked. 
Before the person dies, he/she should just give the private key to who will inherit the coins. It's not lost forever if you take responsibility of YOUR coins.
It's YOUR coins, therefore you control it to where it will go right now and to the future (well if you aren't using online wallets which is a different discussion). What do you mean by not really "secured" currency? If I don't give my private keys to anyone, it's secured to me. Before I die I would give the private keys to someone I trust and it will be secured to him.

I am holding my bitcoin since 2017 and I don't have any objections against its security.
Truly I got defrauded a few times and I lose my cash their yet there's no point of blaming its security.
Just your flaw can make your coin disappear. My companion neglected to logout his coin base wallet and somebody takes them

[btc78]

-
but as far as i am believing?cryptocurrency are safe for now and the next years to come and those claims that coming out are just a strategy of fudders here to make market fall.

One of the most important things that I learned from this ecosystem is that we have to really update information, not be easily affected by FUD, it could be just confrontation and issue, with a specific purpose, as you explained.

But still there are others that has not treating as this,they tend to still being affectedof FUDders who seems to be much happy when there are reactions in their tactics.

The most important thing is that we learn safe ways to store assets, the risks of our choices, so that we are prepared and not trapped in losses.

Thats why i bought a Nano ledger for more safer investing .

Most people still ignore this security, remember hackers target you. Nothing is really safe on the internet, prepare the best possible preventive measures so you don't regret it. As long as we realize the risk, we will definitely choose the best security.

securing you assets is better but the problem is that hackers still in best to victimized us.

[AicecreaME]

And why would you use bank or any regulated platform when investing in Bitcoin? if you don't wanna get traced the look for other ways. I'm also using banks but I'm not getting any problem regarding about Bitcoin, if you have a proof that what you're doing is legal, then you're good, but I guess it still depends on which country you are in.

And the security of Bitcoin, if you died, it's your fault not giving a note or instructions to your family about how they would get your funds in cryptocurrency just in case you died. If a hacker got into your wallet, it's your fault as well because you didn't secure your Bitcoin in a decent wallet.

[Lizzie_Girl]

Do you think you the first one to ask these things? They were asked before bitcoin was created by the creator themselves.

Firstly your share all your personal info with your bank so how can you call that secure? If someone else has your crypto details that doesn't mean it is not secure. I trust a family member with my private key much more than some bank with my money.

How will someone steal your crypto? Btw just because your money was stolen does not mean the bank will get it back.

[Twentyonepaylots]

Firstly your share all your personal info with your bank so how can you call that secure? If someone else has your crypto details that doesn't mean it is not secure. I trust a family member with my private key much more than some bank with my money.

There have been some cases where Bank data has been breach, as we know there is no perfect system after all, but when we talk about security it is best if you keep your money with the bank with terms and condition applied to avoid getting lost. And of course you'll trust your family more than anyone lol.

How will someone steal your crypto? Btw just because your money was stolen does not mean the bank will get it back.

There are various way for your crypto to be stolen, one of them is by malicious software intended to hack your wallet.

Btw just because your money was stolen does not mean the bank will get it back.

It depends, that's why there are terms and conditions when keeping money in the bank.

[abel1337]

Do you think you the first one to ask these things? They were asked before bitcoin was created by the creator themselves.

Firstly your share all your personal info with your bank so how can you call that secure? If someone else has your crypto details that doesn't mean it is not secure. I trust a family member with my private key much more than some bank with my money.

How will someone steal your crypto? Btw just because your money was stolen does not mean the bank will get it back.

In our current generation where technology is booming, There's nothing unhackable now. Banks can be breached if an excellent hacker/group of hacker want to breach a bank. Bank security is considered high and hard to penetrate but it is possible to get past through it. The bank is known to have high security that's why people are trusting it with their money and people should agree with their terms and agreement. Surrendering your personal data is one of them. This is why cryptocurrency enters, If you don't want to get controlled by the banks, Cryptocurrency is the answer. You have your own freedom to keep your asset and be responsible for what you are doing with your own money.

[rexxarofmoknathal]

CryptoBitcoin being potentially the currency of the future doesn't automatically mean that it's 100% perfect because it's definitely not, and nobody in the right mind is saying that it is.

With that said, your 2 points are definitely obvious flaws, and people are yet to figure out a good more-feasible solutions for them(than the typical write down instructions on a piece of paper etc). Having true ownership and having self custody really also has it's drawbacks. People are calling bitcoin the currency of the future due to the mistrust in central banks or with banks in general, not specifically because of it's user-friendliness.

I couldn't agree more with @mk4. BTC is denoted as the future of finance because of the freedom from centralisation and the emergence of the blockchain technology which can be used beyond the scope of creating digital currency, and can be used to solve real life challenges such as pension funds etc on the basis of smart contracts.

If somebody is saying that BTC is safe, that's a lie. It isn't 100% safe due to targeted hacks but so far it is the best alternative to having a decentralised system where you and only you (plus any other people you trust with your life) can access your funds, giving you full responsibility. 

[taufik0911]

maybe someday the bank will use blockchains and use a semi-decentralized system so that with an official proof from the police and sufficient evidence it can be used to get your assets back
this is just my idea
indeed when we die a number of balances in our assets cannot be used, this is my anticipation
I wrote in my note an important file with all the passwords, backup google authentification and privatekey

[AniviaBtc]

Crypto is praised as currency of future, 100% secured way of transaction. my question is how?

Bitcoin is very secure. I have never lost a single satoshi to a hacker or scammer. The question should be, is the person holding the bitcoins security conscious? Are they doing more than enough to secure their Bitcoins?

But not all people are aware about those scams that they might encounter, and we are lucky that in this forum, we can read a lot of things regarding this.

Bitcoin is really secure and safe depending on how careful you are in holding it. It also depends on how you double check the address when you are sending btc to other wallet address.

-If someone stole money from your bank/stock/credit card account, it can be tracked where the money went and can be recovered by filing complaint with your bank or authorities. but if somone steal your crypto there is no way to get the crypto back.

So how is this a currency of future, did anyone asked these question before?

Again, the money is yours to protect. If you are careless with it and it ends up getting stolen, then the blame is entirely yours.

Blockchain Technology is very complex, you are accountable about the things that might happen in your wallet. Bitcoin is said to be the currency of the future due to its ability to become the best digital currency that we can use in our daily lives. But the thing that made it hard to become like that is its volatility in the market, that's why some people are not considering bitcoin as a real currency.