Does Bitcoin need more safety nets?

[eLdavis]

This is exactly why you are adviced to always check the wallets before you make transactions, This is to avoid mistakes. Personally I think the securities present are more than enough.

 

[Kingstone]

We have seen reports of how some crypto wallet exchanges are hacked and stole lots of Bitcoins. Bitcoin is not free from hackers. They can be hacked at any time. It is not traceable which makes it very hard to recover.

 

[CeeJase]

Bitcoin is the most valuable cryptocurrencies in the world today which is why I believe that the security measures to guide the cryptocurrency should always be updated 24/7.

 

[Nomad]

Recently, a coinbase account was hacked and 200 BTC was stolen. This kind of hacking has happened multiple times, which brings to the conclusion that bitcoin needs more safety nets

 

[Stnicholaz]

I believe Bitcoin and other cryptocurrency is very much save and strongly believe relevant organisations are working hard to improve on the existing security.

Bitcoin and cryptocurrency is decentralised, meaning there's no central or nobody to manage or regulate the transaction. So it is very important to be very careful when sending coins to other address.

 

[kayode10]

Majority of the Bitcoin wallet has been decentralized and this makes bitcoin and other cryptocurrency more secure. You just have to be rest assured if you are using A reputable wallets to hold your cryptocurrencies.

 

[Heatman]

I think that the cryptocurrency Bitcoin need more security on daily basis to be upgraded because of the sensitivity and how valuable the coin is in the world now.

 

[kayode10]

If you want your bitcoin and other cryptocurrency you have to be more secure, it is very important to use a reliable wallet to hold them. Make sure you use two steps verification to secure your wallet to prevent Intruders.

 

[Heatman]

When it comes to my cryptocurrency wallet , it is actually why I make use of only binance wallet because they are well improved in terms of security to avoid any kind of hack.

 

[ahmedo24]

100-percent safety is not guarantee in any cryptocurrency wallets full exchange platform but they are reputable ones like Trust wallet, coinomi
, atomic and few others.

 

[Immilash]

That's very true. Bitcoin and other cryotocurrency don't have a safe net online. That's why it is advisable to create and offline wallet . Your coins cannot be hacked easily.

 

[Kaffyfolla]

In a financial crisis, one theory goes, Bitcoin and other cryptocurrencies will be worth owning because they aren't tied into the stock, bond or real estate markets.

While there may be some truth to this belief, in reality it may not hold water. In a financial meltdown, investors flock to tangible things like gold or Treasury bonds. They exist and have a measurable value that holds up because they are backed up by real-world metals or Congressional promises.

 

[Aaron625]

Bitcoin is safe for sure. The mistakes or errors can only happen from humans , not from the blockchain or Bitcoin technology. So , according to me , there is really need of extra safety nets for bitcoin.

 

[ahmedo24]

Bitcoin is safe for sure. The mistakes or errors can only happen from humans , not from the blockchain or Bitcoin technology. So , according to me , there is really need of extra safety nets for bitcoin.

Absolutely because the blockchain network is programmed and it is free of error so it is human beings that needs to be careful and sensitive to transactions and the data that is supply.

 

[Aaron625]

Absolutely because the blockchain network is programmed and it is free of error so it is human beings that needs to be careful and sensitive to transactions and the data that is supply.

Yeah but unfortunately most of them consider bitcoin network to be vulnerable and blame for the same. This misconception have to be emptied because blockchain technology is offcourse the most powerful and is the future of payments.

 

[ahmedo24]

Yeah but unfortunately most of them consider bitcoin network to be vulnerable and blame for the same. This misconception have to be emptied because blockchain technology is offcourse the most powerful and is the future of payments.

the Bitcoin blockchain network is being worked on at interval and there has been improvement like the recent upgrades too, so I believe things will be getting better as he as we move on.

 

[Aaron625]

the Bitcoin blockchain network is being worked on at interval and there has been improvement like the recent upgrades too, so I believe things will be getting better as he as we move on.

Yeah , there is always a scope for improvement. And when the concept of blockchain becomes familiar worldwide , the improvements can happen every second as you said. Just like in our country , blockchain is one of the streams students can opt for in the college.

 

[Alogakho Esson]

They true is that investment on this currency have no security due to how it is created by individual or group of person online it has no address or 100% guarantee, which in turn lack security and is only those who are can really define it

 

[Bookwormlux]

You cannot seek a charge back of your funds like it is the case with PayPal, but you can still tell the person you paid to, to resend your Bitcoin to your address.

 

[Thinker009]

I think it's because it's decentralized so you can't always expect it to cover you in terms of safety from hackers , even when you do transaction it's hard for it to get reversed