You can find several news scrolling on social media about bitcoins, and most of these articles are related to the volatility of this crypto. Bitcoin is indeed highly volatile, and it is very risky to invest in this cryptocurrency. But bitcoin is 100% safe, and according to financial experts, bitcoin is safer than other financial systems. Visit at this link https://bitqs.io
In 2009, it was launched in the market as a decentralized currency, and bitcoin is based on the P2P network. It is available digitally, and you can invest in this coin through crypto exchanges. All transactions related to bitcoins are stored in a public ledger, and there is no physical presence of this coin available in the market.
Is it safe to invest in BTC?
Bitcoin is safe because it is based on blockchain technology, which is transparent, decentralized and used in the banking and insurance sectors. But, if you consider it an investment option, you need to know some factors before investing your hard-earned money. The Crypto market is volatile, and you cannot predict the price of digital assets, such as BTC, ETH, Altcoins etc. So, you need to invest your surplus amount in this market which you can afford to lose, and you must invest a maximum of 5% of your total portfolio on these coins and tokens.
- Cryptography: As stated above, that bitcoin is based on blockchain technology and backed with cryptography. Miners can use hashes to validate the transactions with bitcoin, and they need to solve some complex puzzles to validate a transaction. The blocks are added to the system after verification. All these entries are encrypted cryptographically.
- Public ledger: All transactions made with bitcoin are stored in a public ledger, and all these transactions are available to the public. People can make such transactions with an anonymous identity and use their funds for illegal activities. It can lead to scams and money laundering activities. But without verifying the KYC, you cannot open an account on an exchange. If you use your funds for illegal activities, then your identity can be traced through your crypto account associated with your exchange. So, using such coins for scams and money laundering activities is impossible, and it is completely safe and secure.
- Decentralized: As it is based on a decentralized network, you can find more than 10,000 nodes on this network to keep track of the transactions made with BTC. If a node is not working, then another node can take place, and you cannot find this network stop or down due to server error, which is very common in the banking system. So, you can invest your funds in BTC anytime from anywhere.
Apart from that, you do not need to take any permission from a central authority to make a transaction with bitcoin. Banks and government cannot control this network, and you do not need to depend on a custodian authority to approve or verify your transactions. Making cross-border transactions with BTC becomes safe, and you can save your transaction fees by using this decentralized P2P network.
How would you keep your funds safe and secure?
It is true that bitcoin, based on blockchain, is 100% safe and secured, but there are some fake platforms available where you can lose your funds. You need to choose the best trading platform to keep your funds safe, and you must check the security measures of such platforms before you choose.
It is impossible to hack the blockchain of BTC because all the data stored in this network are available in the public domain. But bitcoin accounts can be hacked. It is recommended to keep your public and private keys safe, and you should not share such sensitive information with anyone. Apart from that, you should not share your banking and crypto account details through mail as you can receive some phishing mails with lucrative offers.
Also, use a secured wallet; you must install anti-malware and anti-virus in your system to keep your wallet safe. Prevent malware attacks by using the best anti-malware software.
Closing thoughts
You can choose this Official trading App to trade bitcoin. There are other cryptocurrencies that you can explore before making an investment in any of the options available.
