Topic: How safe is Bitcoin? ✅ - page 47. (Read 7306 times)
Hackers are succeeding because of the fault of exchanges as they do not have good security measures. In some cases, exchanges are themselves involved.
Bitcoin is very secure because there is a code that can only be used by the account owner itself. The biggest light in bitcoin is the people involved or the hackers who make trouble for the disturbed sites. While safe we have to be careful when making exchange transactions because it could be an opportunity for hackers.
Bitcoin in itself is safe but the wallet used to keep it safe or store bitcoin rather doesn't assure total safety since they can be hacked when not handled.
Honestly every bitcoin wallet are we not guarantee that is 100% safe of course there's always a risk, hackers is everywhere and they know the advanced technology. If you want to secured your funds the most people here in crypto are using paper wallet and the most popular is hardware wallet. Just keep it safe your private keys.
many without a hack, that's how secured it is!
Bitcoin in itself is safe but the wallet used to keep it safe or store bitcoin rather doesn't assure total safety since they can be hacked when not handled.
All cryptocurrencies we can say that all are not totally safe,it depend on you,how to handle and manage your bitcoin. You should learn first more best strategies how to be a successful in any bitcoin activities. One thing that even now i still believed that,in bitcoin everyone has a oppotunities to become a successful bitcoin investors someday,hardworks,a lot of efforts,more patience are really needed.
bitcoin is very safe, because the rules in bitcoin is very tight, actually the work in bitcoin needs to be breeding, because bitcoin is worth the work material
Bitcoin and bitcoin transactions are purely based on the Blockchain architecture. The inbuilt characteristics of blockchain are distributed architecture and security. It is impossible to tamper or manipulate the transactions in blockchain. It is possible to hack wallets or exchanges. It is the only possible thing when it comes to bitcoin or crypto currency hacking.
Bitcoin is extremely safe,to investors, for buy and holdlong, for trading, all you to do is be very careful with your password,don't look at the price,its the nature due to buying and selling like trades..
Definitely Yes I agree with you mate. Bitcoin is safe to investors. We should be very careful in all your private key. Don't leave anywhere and be sure to log out to make it safer.
In this world there is no such thing safe so Bitcoin is one of them all we need to do is be guided and be guarded. Bitcoin has no such safety net. If your Bitcoins are lost or stolen, there's no intermediary with the power to make you whole. There are two basic ways to hold Bitcoins. You can participate in the Bitcoin network yourself, storing the keys to your Bitcoins in a wallet stored on your hard drive.
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?
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?
Bitcoin is so safe because there are so many verification before you get it. Just like what you said there is a private keys that you are the only one who knows it. Actually no one can get it if you do not trust others because there is a people that willing to do anything just to get what they want.
There is no universal pill. Only by fulfilling all the safety features, in the trunk, they give an effect. So is the wallet's security. You must follow all the actions, do not forget about them. This is the only way to ensure personal security for your money.
The best way to keep your bitcoins safe, is to use a hardware wallet that have stronger cryptography that web wallets.
If you store your coins in exchanges you are most likely to lose them, because exchanges receive the most cyber attacks.
Actually, there are some to make your bitcoin safe and secure like putting 2fa authenticator where will help you to notice if someone try to open your wallet. I agree that do not ever store your bitcoin in a exchanger and try to store your bitcoin in an trusted wallet. If you store your coins in exchanges you are most likely to lose them, because exchanges receive the most cyber attacks.
Bitcoin is actually safe but the issues of all these hacks we are hearing comes from third party services such as exchanges.Falling to secure there exchange well enough and there by leading to careless hacks. So far you follow the proper security measures on your wallet you will always be safe and avoid loosing your private keys they are very important. Hardware wallets are also good for securing your bitcoins.
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?
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?
As we all know Bitcoin is first cryptocurrency and also the safest because It works on blockchain technology. Bitcoin is safe but we have to focus on other several factors to ensure that our Bitcoins will be safe:
The factors like-
- Store your key in a safe place. So no one can access it
-You should download latest BTC client.
-Also can use a safe wallet for storing your bitcoins.
I think people is safe but the users can be safe if we keep everything necessary safe which is our private key and password I feel if we do then we are safe and our coins are safe. So keep them safe
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. And always try to distribute your holdings into two or more wallets instead of keeping all of it at one single place.
if in my opinion bitcoin is now safer than before gan. but if there is a loss of bitcoin it is not a bitcoin but we are not careful in keeping all the assets we have .
Nothing is “safe” when it comes to Bitcoins or any other Cryptocurrency for that matter.
The price of Cryptocurrencies are driven on market speculations, and trading demands. One must have an appetite for risk taking when it comes to investing in Cryptocurrencies.
If you are looking to invest into it, my suggestion would be only invest the amount that you won't make you feel bad in case you lose it.
The price of Cryptocurrencies are driven on market speculations, and trading demands. One must have an appetite for risk taking when it comes to investing in Cryptocurrencies.
If you are looking to invest into it, my suggestion would be only invest the amount that you won't make you feel bad in case you lose it.
No it's not.
In fact, safe investments are almost impossible to come across. All types of investments have an upside and a downside. That means there is always a certain level of risk involved. There is the possibility of losing money, no matter how minimal.
That being said. In terms of risk, Bitcoin is far from safe. It is an investment of high risk. This is largely due to the volatility of its price and the absence of exact value.
With high volatility, there is the possibility of a big drop or a big rise in prices. Given that Bitcoin relies on the simply economics of supply and demand to support its prices, the same simple economics could be it's undoing. If everybody starts selling, you will lose money. If there is a strong interest, you will make money. But a smart investor never focuses on the possible wins. His main focus is possible losses he could incur. Based on the metric of volatility then, Bitcoin is highly unsafe.
When it comes to value, we really aren't sure whether Bitcoin is going to be eventually accepted as a store of value or a currency. In investment, this uncertainty spells doom. For an investment to be considered safe, you have to be able to assess it's value and determine it's price. This is something that Bitcoin investors have been unable to do. Most of them refer to it as digital gold, and that it's price depends on consensus. But this only works when it's accepted universally as that. Before that happens, things could really go either way.
Remember, investing with the hope that something will rise in value is called speculation. Being able to value and determine the risks associated with the instrument in which you are investing your money is what investment entails.
Investors might lose some but they make it back somehow. Speculators get rimmed big time.
So the answer to your question, Bitcoin is not a safe investment. At least not yet.
In fact, safe investments are almost impossible to come across. All types of investments have an upside and a downside. That means there is always a certain level of risk involved. There is the possibility of losing money, no matter how minimal.
That being said. In terms of risk, Bitcoin is far from safe. It is an investment of high risk. This is largely due to the volatility of its price and the absence of exact value.
With high volatility, there is the possibility of a big drop or a big rise in prices. Given that Bitcoin relies on the simply economics of supply and demand to support its prices, the same simple economics could be it's undoing. If everybody starts selling, you will lose money. If there is a strong interest, you will make money. But a smart investor never focuses on the possible wins. His main focus is possible losses he could incur. Based on the metric of volatility then, Bitcoin is highly unsafe.
When it comes to value, we really aren't sure whether Bitcoin is going to be eventually accepted as a store of value or a currency. In investment, this uncertainty spells doom. For an investment to be considered safe, you have to be able to assess it's value and determine it's price. This is something that Bitcoin investors have been unable to do. Most of them refer to it as digital gold, and that it's price depends on consensus. But this only works when it's accepted universally as that. Before that happens, things could really go either way.
Remember, investing with the hope that something will rise in value is called speculation. Being able to value and determine the risks associated with the instrument in which you are investing your money is what investment entails.
Investors might lose some but they make it back somehow. Speculators get rimmed big time.
So the answer to your question, Bitcoin is not a safe investment. At least not yet.
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