Is Bitcoin safe to use?

Whether bitcoin is safe to use is not discussed often enough.

Bitcoin is safe to use if you are willing to watch closely over your private keys just like you would for a wad off cash under your mattress

Is Bitcoin safe to use?

Bitcoin uses an encryption called cryptography.

This encryption has allowed the Bitcoin blockchain to safely process transactions since 2008.

Bitcoin is called also referred to as an e-cash payment , this means that you get all the advantages of online banking and only SOME of the anonymity of cash.

But this also comes with the security risks of both.

Local authorities usually recommend keeping your fortune safe in the bank.

And if someone breaks into your home and steals the wad of cash hidden in the bathroom or fridge, it’s unlikely you’ll get it back.

Authorities also recommend keep your password safe.

Because if someone gets access to the login and password of your bank account and empties the accounts, the bank will refund you since they have insurance.

Using Bitcoin vs cash vs digital money

Let’s be honest, some people are just better at saving using cash than digital money.

I’m DEFINITELY not one of them !

On the other hand, my grandfather hated saving money in the bank and kept his money in cupboard in front of his favorite chair. He sat in this chair everyday for 30 years.

Then, There are people who prefer using cash over cards – There are quite of lot of videos on youtube on cash wallet systems as a means to save money

However, walking around with cash comes with risks if too many people know about it.

Pick pocket are constantly on the prowl at subway stations for victims.

But this also comes with the security risks of both

Bitcoin is only safe to use if…

Bitcoin is safe to use if you know you are someone who understands the different ways hackers can target your private keys.
Bitcoin is safe to use if you are willing to closely monitor your private keys.