The risks of using Bitcoin

[Ridi]

The Risk of using Bitcoin:-
Risk of Losing the Private Key or Password of the External Wallet Services. Bitcoin is volatile , price changing risk and if you are investing in wrong platform Or company. 🙏

[goldkingcoiner]

Theres also the chance the banks may arbitrarily decide to freeze accounts and/or deposits. At least I've heard of it happening.

[tygeade]

Alright you have made some good points, but most of these things I believe that they can be avoided or they are not just much of a threat to Bitcoin. Personally I do not see alternative coins as a challenge to Bitcoin. Of course, a lot of them has features that  we know They are actually meant for them to be able to compete with Bitcoin and take over the markets as the number one, but that’s not going to be possible, because Bitcoin has so many advantages over them all.

In terms of being secure, Bitcoin is more secure than most of them. Your wallet won’t just get hacked unless you have made some kind of mistake online that would have resulted to that. As for Bitcoin not being legal in some places, this is something that is above us, and we can’t do anything about it. Then also Bitcoin is decentralized, so even if it is not legal in your country you can still make use of it for transaction or even invest in it without having any problem.

There are so many P2P exchanges out there that you can make use of. As for speculation, it's a normal thing that happens in every market. It is up to you as an investor to know the right thing to do, you have to know how to do technical analysis and how to predict the market at least to an extent.

[carlfebz2]

The Risk of using Bitcoin:-
Risk of Losing the Private Key or Password of the External Wallet Services. Bitcoin is volatile , price changing risk and if you are investing in wrong platform Or company. 🙏

This talks about security but talking about other aspects in talks of risk then this is where do mention about regulation or something attached to it knowing that Bitcoin isnt globally accepted which there are countries

or places in the world that do really prohibits out on making use of bitcoin or other crypto which simply means that we should be careful if we do really intent to make use of it.

Risk is also talking about volatileness of its price which is a common thing because it cant be called a market if it doesnt involved buyers and sellers.

[Kelvinid]

The Risk of using Bitcoin:-
Risk of Losing the Private Key or Password of the External Wallet Services. Bitcoin is volatile , price changing risk and if you are investing in wrong platform Or company. 🙏

This talks about security but talking about other aspects in talks of risk then this is where do mention about regulation or something attached to it knowing that Bitcoin isnt globally accepted which there are countries

or places in the world that do really prohibits out on making use of bitcoin or other crypto which simply means that we should be careful if we do really intent to make use of it.

Risk is also talking about volatileness of its price which is a common thing because it cant be called a market if it doesnt involved buyers and sellers.

The risk of losing its value is what mostly the people are thinking about, even merchants give that kind of doubtful support as that is really it be going to happen anytime. That is why we can see that many big and known establishments are still not adopting the system as they are worried about that, and asking what if someday Bitcoin will be crashed? We can't blame either and we are aware of those possibilities which couldn't stop from being worried.

[Kusman]

Money laundering can happen with Bitcoin, yeah but it is not specific to Bitcoin also. People were laundering money a lot even before cryptocurrency market existed. And now, I bet that fiat currencies have been used much more than Bitcoin for money laundering purposes. Now people think like they can continue to do this anonymously. But they can be tracked also from now on.

[blckhawk]

the main risk that comes to mind when investing in bitcoin is that you will lose money. due to bitcoin being a volatile investment, investing in bitcoin will not always yield gain but also losses, in fact your losses is much more likely to happen than your gain especially if you do not equip yourself the right knowledge when it comes to investing cryptocurrency. there are also different risks like using bitcoin for criminal purposes like money laundering and anonymous drug deals and such.

[LimLims]

The OP got some serious and cool info.
But yes i am here to counter the OP.
Everything that has profit comes with risk. You can’t get good profits without any risk
Moreover you should thank to the decentralised nature of Bitcoin, for which if you want you can easily avoid all the risks mentioned above in OP.
Yes the thing we need is yo be extra careful always.

[mich]

Risk of losing my personal keys, passwords, or logging in credentials for wallets.   Being hacked or having a email get compromised are also risks associated with using bitcoin.

[anil07]

It is very easy to create a issue for increase the market. crypto market is very large in all our world. I think that is right three most topics we can discuss about bitcoin using the risk. Any government not trace bitcoin exchange terrorist can use it for terror funding and other illegal work.

We can face some issue in the future with bitcoin in our country bitcoin not legalize.

[Luke Briggs]

There are indeed many risks in using Bitcoin. Bitcoin is equal to our money. Everyone is very cautious when it comes to the money of each of us.
Nothing is perfect. One of the disadvantages of Bitcoin transactions is that you don’t know who is opposite, and there may be a risk of funds being deceived. The wrong address can not be retrieved.
You need to trust the other party when transferring money. Don't give you a private key to a stranger, and don't transfer money to a stranger.

[haasanjui]

There are some risks of using Bitcoin for Trading it can gives you big lost because its price is unpredictable and some time liquidity issue can be happen these are some risks of using Bitcoin.

[olib123]

Risk of using Bitcoin is it is volatile and fluctuating market , scams or frauds, financial loss, people should aware of these risks. It is not only in Bitcoin everything has a risk.

[Kong Hey Pakboy]

~~~

right, the government makes rules and we have to obey them, if we fight them we will certainly deal with the law, therefore for bitcoin I think we are still lucky that bitcoin ownership is not prohibited, but we must not use it as a means of payment, and if it is for trading then there is a risk losing money is personal responsibility

You don't have to obey all the time, people can choose what they want in an ideal world, that's how democracy should be and the people in the position should do whatever protects the interest of the people. One way to fight is to teach the younger generation on how to choose the right leader and how to be the right leader, and we should learn to vote not on popularity but on their deeds.

[ILuckyGuyI]

The risk of speculation should be known by every investor before making an investment into Bitcoin. People should be aware that Bitcoin price is also easily manipulable like the other cryptocurrencies in the market. However, FUDs have less affect on the price now and it gets better as time goes on. But still, the price will always be volatile and we should get ready for bad periods also.

[Hypnosis00]

You don't have to worry on policy too much, if you don't do something illegal then you're not the one that should worry but the problem is that whether the policy is fair and protects the interest of both parties because if it leans more the other way then probably you will have to worry. For me, the government should just take a stance that only benefits the people or probably just be an observer in this space.

Yeah, nobody got into jail if they don't do any illegalities. As it was not prohibited to use Bitcoin that wasn't a big problem anymore. But if found illegal then might expect that someday have someone will come to us and seize all our Bitcoin.

But what I'm worried about is if someday I get hacked and lose control of my account. I know we are prone to this, in fact, many people had become a victim to this. Acquiring a hardware wallet maybe will it helps (well, that is a little bit expensive) but what we aim for now is to keep our funds safely.

[Rengga Jati]

The risk of Policy

• The risk of the law
  

Policy and Law will depend on each country.
Today, there are some countries that openly accept or reject cryptocurrency in their country. This is related to the various considerations in their respective countries which are certainly adjusted as well as the conditions of their country, including the system.
However, for countries that have legalized Bitcoin and other cryptocurrencies, both are not a problem anymore.

The risk of Speculation

This will really depend on each person. However, We cannot avoid if there are many people (especially for Beginners) who indeed only rely on speculation compared to analysis. However, every speculation is certain to have its own losses. What needs to be considered is how we take the risk.

The risk of  Money laundering

We cannot avoid this, money laundrying can happen in many fields, not only Bitcoin.

Everything will have pros and cons, will have positive and negative sides, will have advantages and disadvantages.
And how we take the decision and do it will really make us take the sides. I personally will prefer to take the advantages and positive sides.

[nurilham]

it is important to be more aware of the risks of bitcoin as it is said. does not mean that bitcoin investment is a risky investment but it is good for us before entering into it we understand the positive side and also the risk of bitcoin itself. we also have to know that if we have entered into it then the risks that exist must also be acceptable. I think so far the development of bitcoin is still doing well and does not harm the government or others. what is certain is that if we can position bitcoin well then it will not harm and can make us get the profit.

[passwordnow]

About the substitution, why is it became that deflation looks a bad thing with that description? isn't it that most of us are looking to defeat inflation and that's why deflation is a good thing and bitcoin is known as a deflationary currency/cryptocurrency which is a good choice to invest and keep as our assets? I don't also see that it's security is poor. That's why there are a lot of miners and nodes that are on it to tighten its security and its network.

[Shenzou]

a part from all the risks stated above, i feel like people tend to take things way too easy when it comes to bitcoin and especially in parts of the world where bitcoin is not known, for example if there is some case and you are brought on the table and they find out that you have been using bitcoin they will send you to prison, because even if it is a digital currency there are no real laws on it especially like i said in third world countries where they will straight send you to prison.