JPK0007 Posted December 6, 2018 Share Posted December 6, 2018 Bitcoin is one of the most popular forms of Cryptocurrencies available in the Market and is widely accepted throughout the World. Recent days have seen the value of Bitcoins dropping significantly and that is one of major concern amongst all Bitcoin investors these days. However, Bitcoins and all other forms of cryptocurrencies face constant security concerns that are related to cyber attacks and hacking. The crypto wallets are always very vulnerable to hacking attacks. I think a robust mechanism needs to be devised to make Bitcoins more secure and that will reduce the vulnerability associated with it. What are your views in this regard? Quote Link to comment Share on other sites More sharing options...
Alymae Posted December 6, 2018 Share Posted December 6, 2018 One of the reasons why people doesn't trust bitcoin is the possibility of being hacked. This is indeed the weakness of cryptocurrencies. The best solution for this would be to get a cold wallet. Find a secure wallet offline. Quote Link to comment Share on other sites More sharing options...
JPK0007 Posted December 7, 2018 Author Share Posted December 7, 2018 (edited) 12 hours ago, Alymae said: One of the reasons why people doesn't trust bitcoin is the possibility of being hacked. This is indeed the weakness of cryptocurrencies. The best solution for this would be to get a cold wallet. Find a secure wallet offline. That is very true. Storing your bitcoins offline is one of the best ways to keep them secure and safe. This is one of the necessary precaution that one must surely take especially if the person has a large amount of Bitcoins with him. Loosing your Bitcoins to a security breach will become the worst nightmare for people having higher amounts invested in them. Edited December 7, 2018 by JPK0007 Quote Link to comment Share on other sites More sharing options...
Alania Posted December 7, 2018 Share Posted December 7, 2018 There's obviously a risk of being hacked, but to be honest, you can have that risk with almost anything. The most important factor is not to put all the eggs in one basket. Even Paypal, Payeer and PerfectMoney can be hacked, and you can lose your savings. Quote Link to comment Share on other sites More sharing options...
focusedwriter10 Posted December 7, 2018 Share Posted December 7, 2018 23 hours ago, Alymae said: One of the reasons why people doesn't trust bitcoin is the possibility of being hacked. This is indeed the weakness of cryptocurrencies. The best solution for this would be to get a cold wallet. Find a secure wallet offline This statement is absolutely correct. an offline wallet is more secure. Quote Link to comment Share on other sites More sharing options...
Alymae Posted December 8, 2018 Share Posted December 8, 2018 17 hours ago, JPK0007 said: That is very true. Storing your bitcoins offline is one of the best ways to keep them secure and safe. This is one of the necessary precaution that one must surely take especially if the person has a large amount of Bitcoins with him. Loosing your Bitcoins to a security breach will become the worst nightmare for people having higher amounts invested in them. Indeed. It would be a hell of a nightmare. If this happens to me, I will probably go berserk. Haha. You can find offline wallets available on the net and you can just buy 1. Quote Link to comment Share on other sites More sharing options...
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