Topic: Can we make sure that our money we invest in Bitcoin is safe? - page 63. (Read 4201 times)
If youre concern is about hacking your computer online from a remote hacker the idea is simple to secure your btc funds just buy a portable harddrive or either usb flashdrive save your your private keys and kept it in a secure volt of storage in your house.
Nothing safe now in the world, Especially in the world of crypto currency, So do not trust anyone. Be careful and keep in mind the actions that will be taken to avoid losing our money.
It is better to be careful because we live in the world of fools
It is better to be careful because we live in the world of fools
From an investment perspective, Bitcoin does have higher risks than other currencies, but high risk also means high returns. In terms of operational safety, before starting a new investment, it is important to fully understand its operating mechanism and to ensure the safety of your property.
So, you are talking about people who are investing the money for you? If the answer is YES, then I would say that most of these third party services, should have some kind of Cold storage , where the coins are supposed to be stored. The exchanges and the wallet providers store most of their coins in cold storage.
I know Xapo for instance, store their cold storage in a underground bunker, somewhere in Europe.
I would be more worried about the exploits in the third party software, than the paper wallets that are being stored in a secure location, because this is the weak point that are being targeted by these hackers.
I know Xapo for instance, store their cold storage in a underground bunker, somewhere in Europe.
I would be more worried about the exploits in the third party software, than the paper wallets that are being stored in a secure location, because this is the weak point that are being targeted by these hackers.
I just want to know how those people behind bitcoin secure the money they will invest because as far as I know there are lots of hackers all over the world.
security advantage of bitcoin I think only we can be alert to it all because it is one of the risks we already know before I currently only change the password periodically and avoid sites I do not know
Concerns about the security of the cryptocurrency have continued to shadow it. Last year, almost 120,000 bitcoin worth around $78m (£58m)were stolen from Hong Kong-based Bitfinex, one of the most popular cryptocurrency exchanges, which resulted in a 20% drop in the value of the currency at the time.
“Similar to online banking, people need to take care with their bitcoin account credentials,” says Nwosu. “Whether you secure your bitcoin yourself or with a third party like Coinfloor, we recommend the safest way to go is to keep your security credentials offline.
“Similar to online banking, people need to take care with their bitcoin account credentials,” says Nwosu. “Whether you secure your bitcoin yourself or with a third party like Coinfloor, we recommend the safest way to go is to keep your security credentials offline.
well, so far, I feel the right security in investing in bitcoin. actually, there is no storage that is completely safe on the internet. there is always a risk, because the Internet has many loopholes that can be penetrated by hackers. so it all depends on how you keep the bitcoin you have.
I just want to know how those people behind bitcoin secure the money they will invest because as far as I know there are lots of hackers all over the world.
There's a lot of hackers even before Bitcoin/cryptocurrency existed. What people do to secure their Bitcoin investments is to use a wallet that will give you full access of your private keys, if you use exchanges or any other cryptocurrency related services to store your coins they will not give you access to that, so you can't say that it is secured. The best way to secure your Bitcoin is to use a cold storage like hardware and paper wallets or any device that you are confident that is free from malware or viruses. The network of Bitcoin is secured, so it is all in the users, if you are careless you will surely get victimized by those hackers. 
It's safe if you store it in offline wallet and you keep the hardware safe.
Cryptocurrency world is dark, if you want to invest in safer place don't invest in bitcoin
Cryptocurrency world is dark, if you want to invest in safer place don't invest in bitcoin
The hacking method comes with your wallet and securing and picking the right wallet on the internet will be a fine choice. If you do this then you are fine with your bitcoins. Another tip is that if you have a lot of bitcoin you might as well split it up to many accounts so that in case you've been hacked you'll still have a portion of your bitcoins. Transactions also is the main root of hacking so avoid too many transactions, hackers are so advanced nowadays and can track that so be careful.
Unfortunately we can't be sure if our investment in crypto will be safe. There are many projects (ICOs) which are only a huge scams. The same thing applies for Bitcoin forks which usually are attempts to steal other people bitcoins because they have to enter their seed or private keys when they want to receive new coins. The only thing which can protect you from these kind of situations is your mind. Don't risk your bitcoins for a few dollars. It's not worth it.
Be sure also of your BTC wallet that are using. Investing in Bitcoin is 100% safe the thing is the company you are investing and the wallet you are holding. Trust issues anyone. Working for money is not that easy so be careful about the company you are investing with not the Bitcoin itself. Just my opinion mate. Have a nice day.
You need to know the fact that: There is nothing for your investment in bitcoin. Because in Vietnam it is not legally recognized, it exists outside the law. So when you buy bitcoin, you lose the money you have to bear. The profitability of bitcoin is very high but it also carries risks that are difficult to predict.
I just want to know how those people behind bitcoin secure the money they will invest because as far as I know there are lots of hackers all over the world.
Yes they are lot of hackers exist this year but bitcoin has super high security compare to other coins that has their own websites. As a computer engineer we also study all about cyber security and as of this monent no one has the power to hack bitcoin.
If you have the right technical knowledge about crypto and bitcoin than yes!
investing money in bitcoin is safe
investing is easier than doing a trader, and investing is can much safer if you know how to do before you jump into it, need a lot of time but still it worth to research you know
investing is easier than doing a trader, and investing is can much safer if you know how to do before you jump into it, need a lot of time but still it worth to research you know
I just want to know how those people behind bitcoin secure the money they will invest because as far as I know there are lots of hackers all over the world.
Use bank, they will secure your money. Or if you don't like banks, I would suggest you to create hole in the wall, buy yourself safe and put it in that wall. You can cover safe with nice picture or something.
I am not sure why everyone is answering with "use 2fa", "keep your private keys safe" and so on, OP want to know how to secure his money not his bitcoin.
The value put in is safe in Bitcoin in terms of technology but you should understand the concept of what Bitcoin and blockchain are all about. You just need private keys in order to spend the funds available in the wallet so you can keep your private key with you that is most secure in my opinion, alternatively, there are some options available like allowing someone to hold your Bitcoins for you and mainly it includes web wallets and exchanges. There is a risk in holding funds anywhere other than your 100% control because in that case that particular institution/company has there right to spend the funds, on the other hand, if there are any security issues then hackers can anyway full Bitcoins from their database.
Best way to make sure that you are points are safe is to keep it under your control without exposing private keys to anyone. After all Bitcoin and cryptocurrency self-responsibility and decentralization.
Best way to make sure that you are points are safe is to keep it under your control without exposing private keys to anyone. After all Bitcoin and cryptocurrency self-responsibility and decentralization.
Quantum computers could be a threat to Bitcoin and Cryptos, but they won't go mainstream in the near future.
actually many ways we can do to ensure that our money is safe when we invest bitcoin, for that I suggest that before investing bitcoin, then you should first learn about bitcoin, as well as its function and usefulness as well as the advantages of investing bitcoin. then learn how to keep our money safe when investing bitcoin and no one else can take it without our permission so there is no doubt in bitcoin investing and not having a bad view of bitcoin someday. one of the ways to keep our money safe when investing bitcoin is to keep the password in the bitcoin wallet adress properly and correctly and make sure no one else knows the password other than us, it's one way to secure our money in bitcoin investing. another way you can open the browser or follow this forum because here has been explained many ways to secure our money from theft in investing bitcoin.
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