Does Bitcoin need more safety nets?

[Sincerem]

Bitcoin needs more safety net in the actual sense that there are so many cyber criminals that are planning to penetrate the bitcoin wallet of so many people and they're actually succeeding with this.

This is the work of a cryptocurrency exchanges or wallet to strictly secure the assets of users. We are talking about the main cryptocurrency. A lot of people are worried that there is a possibility that the cryptography of bitcoins could be back in the future.

 

[Ghost]

With bitcoin or any cryptocurrency, there is some risk with them all. I ask, because I heard that bitcoin and other currencies don't have the best security surrounding them. Say you paid in bitcoin for something. I heard that sometimes you can't get that money back, or bitcoin back. Once you send it to someone, there's like no recourse for getting it back. Is that true? I haven't really used Bitcoin to buy anything, so I don't know. I just save right now.

I don't think it needs more safety nets. It's quite alright, apps like binance always make sure they get a 2 way verification before they approve any transactions. Safety depends on you

 

[Chibson]

cryptocurrency is decentralized so the level of security in some cases may be limited and that is why it is important you are very careful on any transaction you are making. You should only transact with people who you trust and have done businesses with before.

 

[Danny4cash]

Bitcoin is safe as far as I know. Though, the payment made with bitcoin can't be reversed but it's safe. That's why it's important to trade with reputable person and company.

 

[Nat]

Yes very necessary. Though it is risk but money is hard earned. Humans aren't perfect so we don't have to suffer for mistakes. In trading, we make good and bad decisions A safety net wil help solve crisis

 

[Imran_Noori]

With bitcoin or any cryptocurrency, there is some risk with them all. I ask, because I heard that bitcoin and other currencies don't have the best security surrounding them. Say you paid in bitcoin for something. I heard that sometimes you can't get that money back, or bitcoin back. Once you send it to someone, there's like no recourse for getting it back. Is that true? I haven't really used Bitcoin to buy anything, so I don't know. I just save right now.

Yes you can not regain your funds when you just sent them but this doesn't mean that Bitcoin is insecure, it is using a system called Blockchain which is much more secure than banks.

 

[Genie01]

Indeed with the current rate at which scams and scammers are involving in bitcoin it is absolutely necessary to take your security seriously.
It would save you from alot of regrets.

 

[UsmanAmoyo]

Indeed with the current rate at which scams and scammers are involving in bitcoin it is absolutely necessary to take your security seriously.
It would save you from alot of regrets.

Security is a vital aspect of life and taking it very serious would do one alot of good .
It is strongly encouraged to always be security active so as to stay untouched in this generation .

 

[Bigron]

With bitcoin or any cryptocurrency, there is some risk with them all. I ask, because I heard that bitcoin and other currencies don't have the best security surrounding them. Say you paid in bitcoin for something. I heard that sometimes you can't get that money back, or bitcoin back. Once you send it to someone, there's like no recourse for getting it back. Is that true? I haven't really used Bitcoin to buy anything, so I don't know. I just save right now.

This is very true and it is a security measure employed by a decentralized blockchain. That is why you must be certain of the address with which a transaction is occurring. Double-checking is ideal when conducting cryptocurrency transactions

 

[tyrim88]

There have been rising complaints about people claiming that their bitcoin wallet were being hacked. It will be very good if the Bitcoin network can make it more secure.

That is very true about the safety of investors coin on cryptocurrency platforms,of recent various platforms have device method of strict verification for users to access their platforms.

 

[Agbalagbaa]

I don't have idea on what safest nets are, but I can say Bitcoin is a reliable cryptocurrency that's you invest your money on, Bitcoin is tested and trusted.

 

[Smiles20]

I just think that people should know more about blockchain technology in its entirety and not just about knowing where to invest money in order to get more.