What is Cryptocurrency?

Is Trading Bitcoin Dangerous or Absolutely Safe?

All of you maybe know that for the last couple of months there is a hot topic that everyone discusses. It is called Bitcoin and Altcoins. This led to the separation between online investors. Some of them believe in the bright future of the cryptocurrency sector while others are skeptical. This is completely normal considering the high volatility rate that can be observed in this market section.

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People who are fond of the cryptocurrency state that it is useful and convenient thanks to the fact that it provides its users with freedom. On the other hand, skeptics are concerned with the fact that the cryptocurrency is unregulated in its greater part. We have to mention here that the platform is accessible by suspicious people with criminal intention.

Here, we are going to discuss one of the most important features of the first and most successful cryptocurrency. Our research was aimed to find valuable information related to the safety Bitcoin can grant to its users. Read on to get the full information and interesting details that will manage to answer the question how safe is Bitcoin.

What is Bitcoin? – Explanation

As we have mentioned above, Bitcoin is the first cryptocurrency to be created. It was launched in 2008 and the claimed creator of the product is called Satoshi Nakamoto. He is said to have wanted to develop and designed a web platform that can place peer-to-peer transactions. The concept was absolutely successful as you can see. In 2009 the first digital currency started as an open-source piece of software.

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At the beginning, the currency was praised and utilized by hackers. Now, it is embraced by many people who are currently using it to accumulate some of the precious tokens. Bitcoin has a special feature that turns out to be both advantage and disadvantage. It is the fact that it is not regulated. It is only driven by the people whore are using it.

Is Bitcoin Legal?

The answer to this question depends on how and where you are going to use the cryptocurrency. In some countries, it is already accepted as a valid exchange method while other have forbidden it officially. So, if you are willing to trade in the cryptocurrency field, then you should always be up-to-date with the latest regulations related to the digital currency. If the platform continues to increase its popularity, it will most likely be accepted by a great part of the countries around the globe.

Is Bitcoin Safe?

Although this question can not be answered categorically, one thing is clear – Bitcoin is safer than the fiat currencies. For instance, let’s face this situation: you are going to exchange a $1 for someone in order to purchase something. In this situation, however, there is a risk for the other person to claim that he hasn’t received the payment.

On the other hand, Bitcoin never deletes a single transaction that has been made within its network. It will just be saved in the blockchain. Soon, it makes the specific transaction public as it is transferred to all the servers of the platform. This is called confirmation, generally, 6 confirmations are considered to be safe. Only one confirmation may be risky as it has the risk of double spend.

How Safe is Bitcoin?

If you check the yahoo answers of the question is Bitcoin safe, you will realize that it actually carries some risks. This is mainly due to the fact that the Bitcoin value is 3 times as volatile as the price of oil and many other assets. Another disturbing thing is the fact that the transferred made in the Bitcoin network, can never be deleted. In addition, users are required to have a personal key in order to access their cryptocurrency balance. Once you select your password it cannot be changed later. This means that if you lose your key for any reason, the Bitcoins you have will be irreversibly gone, too.

How to Get Bitcoin?

If you are an inexperienced online crypto trader, it would be wise for you to opt for a legit and reliable crypto robot. This is due to the fact that most of the available platforms offer autopilot trading mode. This means that you won’t need to personally place your trades and follow the market movements. The robot will do this on your behalf.

If you already have some experience in the online trading sector and you want to further improve your performance and proficiency, we would advise you to sign up for one of the trustworthy and legit brokers that are available on the Internet.

Find the BEST Crypto Tool

Investment solutions get released every day. But that does not mean each is good for your trading ambitions. You need secure and proven to work platforms if you want good returns on your investments. We have found the best among the best and we strongly recommend them. Visit the industry leader if you are eager to start trading.

 

To start making investments, do the following:

1. Go to the Official Website of the Platform

2. Complete the Sign-up Process

3. Start Trading


Jamie Portiss

Hello users, My name is Jamie Portiss. Let me tell a little bit more about myself. I am a Financial Analyst by profession. Having worked my entire life in the financial services sector, I have managed to build a solid investment portfolio. It all began with a Bachelor’s Degree in Finance and right after graduating from university, I began working as a Junior Financial Analyst at a startup company, dealing with financial solutions. I want to bestow our know-how and understanding of the virtual markets (the cryptocurrency exchange, Bitcoin trading, and Altcoin investment spheres, in particular) with users. All that it takes is to do it the right way!

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