Is It Safe To Use Bitcoin in 2020? - Cryptocurrency
Some things you need to know - Bitcoin
Is bitcoin.org Safe? Community Reviews WoT (Web of Trust)
Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
SCX (Swiss Crypto Exchange) is the first regulated Swiss exchange platform for blockchain products and crypto currencies. We offer the trading of Bitcoin, Ether and selected payment and utility tokens. Our platform is SRO/VQF regulated and aims to provide safe, high quality and transparent access to blockchain-based products in a rapidly growing transaction market. SCX contributes to standardization, legitimacy and transparency in accordance with Swiss quality and safety criteria.
Bitcoin, Safety In numbers? Short explanation why it's safer then Paypal
So the other threads I've seen have sorta gone off the rails. I've been in bitcoin for 8+ years. And I figured I would clarify/simplify it for some on here arguing that bitcoins 100% traceable. This is false. However it CAN be in many cases but there are ways to be 100% safe. However the main argument here is why not paypal. If a re seller goes down, they group writes one court order, wins and paypal hands over ALL client details. with addresses etc. Now assuming they get a hold of his wallet. and decide to dedicate a team to back tracking blockchain coins. It is possible but far from simple. and then they hit road blocks. Bounce it back to a big mega wallet. Could, likely an exchange. Now they need to idetify what exchange owns that wallet as they are not labelled in most cases. Assuming they've gotten to that point. Now they nee to ask the court to grant access. Sure, what country is that exchange in? Good luck with most. But assuming they manage to get your info from the exchange. Assuming you had to kyc, they got YOUR name. Now let's assume the re-seller has 1 million clients. How many times will the do the above process? we are talking thousands if not tens of thousands of court orders to different exchanges, BTM owners, Sales sites. Across who knows what country. Just to send you a letter. Where as five minutes after paypal they can send a threatening letter to everyone. Oh and if you bought the bitcoin for cash, ran it through a no kyc exchange. then purchased your even safer. TL;DR Bitcoin is SAFE. It would take to much time, man power and money to get to your info. Pay with bitcoin Also stop using the term cold wallet as if it has ANYTHING to do with coin anonymity... Feel free to post any questions here. Thanks
Hello My dear Hodlers, I know reddit community has many veterans who are just way too informative about Bitcoin Birth,usage,future prospects etc.,I might not be a great talented geek about Cryptos but this question always keep pricking in my mind,many of us might have lost/scammed/misplaced the private keys etc., and I completely agree that Bitcoin is a decentralized asset where you are your own boss to gain it or loose it,in this case should only Technical geeks use Bitcoin ? When you buy a product from store if it goes bad/lost you have the right to question the store person but here you buy[no question on mining] the Bitcoin and if something goes wrong you have no one to complain and ur at ur own rescue ! Even the exchanges they filter your profile so much when you want to buy the Cryptos from the respective exchanges but when the Bitcoin is lost the blame is upon you ! Wish every address of BTC is tracked so many of us would'nt have not been at agony given by scammers ! PS . I have nothing against Bitcoin and I was one of those adapter but one of those victims as well who was scammed and lost bitcoins but still I respect the Technology and platform but just had a question !
Grecian here, some thoughts you could give me on Bitcoin safety.
Excuse the English. I have been interested in Bitcoin for some time, though I have never purchased. So the ATM's are closed, and that makes me nervous about my money future. I don't need to pull out cash, but if we vote No on Sunday, I am afraid for how hard it will be to move money when I need it. Several friends have bought Bitcoin as the safety measure. But I worry about random price movements. Why should I trust it not to lose all value? I would like to hear what you think.
Bitcoin safety? Yes, bitcoin futures and options trading are all safe in JEX
BTC Futures & BTC Options For Bitcoin futures, Bitcoin price shocked upstream in short term. There were a lot of long upper shadows. Bitcoin trades should have a good control of leverage and buy low and sell high. In terms of options, spot Bitcoin shocked upstream and it still has power to move upward. Traders who don't like risks could consider BTC call options. Bitcoin futures and Bitcoin options JEX Reddit
9 Awesome, Time-Tested Tips for Ultimate Bitcoin Safety
No, you’re not paranoid. Having your Bitcoin stolen is a real risk. And it’s a more common problem than many in the crypto community would like to admit. Hackers and phishers have already stolen billions of dollars’ worth of Bitcoin. And while each case is unique, better security measures could have prevented most of these thefts. So to help you avoid the agony of losing your hard-earned crypto, we're compiled this easy-to-follow list of tips for safe Bitcoin storage.
Avoid Online Wallets like the Plague
We get it. Having to choose, set up, and configure a software wallet can seem like a hassle and a massive waste of time. Why not just use a web wallet instead? There’s no need to set anything up or worry about software compatibility. And many exchanges give you one by default when you register, so you don’t even need to make a separate account. Isn't that just the most convenient thing ever? And yes, web wallets are super convenient. But you know what else they are? A bona fide magnet for criminals. Often holding millions’ of dollars’ worth of Bitcoin, web wallets are the prime target of hackers. And with the bounty sometimes measuring in the tens of millions of dollars, it does not seem like this will change soon. So our advice to you is to avoid web wallets like the plague.
Upgrade to a Safer Software Wallet
When it comes to security, not all software wallets are created equal. And it’s not even close. Some software wallets offer top-tier security and are a hacker's nightmare. Others are borderline useless when it comes to keeping your Bitcoin safe. It can be tempting to choose a wallet based on its ease of use or appealing design, but you should always base your choice primarily on security. And when it comes to security, our experts have a clear favorite. That favorite is Electrum. Designed for crypto enthusiasts, Electrum doesn't have the prettiest user interface and is not the easiest to use. But what it lacks in design and accessibility it more than makes up for in safety and security. If you invest the time and patience needed to learn to work with it, Electrum will become your trusted partner for many years to come. Our experts cannot recommend it enough. But if you feel that Electrum is more than you can chew, we recommend Exodus as a more user friendly alternative. Striking a good balance between security and accessibility, Exodus offers much better security than most of its competition without the high learning curve of Electrum.
Keep Your Devices in the Best Possible Security Condition
No matter how secure your software wallet is, there's little it can do to protect you if your device gets hacked. So if you plan to use Bitcoin regularly, you must make sure your devices are in the best possible security condition. While the exact specifics will vary based on your device and operating system, in general, you must ensure your device has at least the following:
Good antivirus and anti-spyware software;
Secure virtual private network (VPN);
Latest security and software updates;
Up-to-date modern web browser.
Consider Using a Dedicated Linux Machine for Your Bitcoin Transactions
Taking things a step further, many users elect to have a dedicated machine used for nothing but Bitcoin transactions. In general, this is a very good idea. And it’s an even better one if that dedicated machine runs a Linux distribution. Not only is Linux known for being very secure, its comparatively miniscule user base also makes it a less appealing target for hackers. Put simply, hacking is a numbers game. As a hacker, you want your attack to target as many people as possible. So it is in hackers’ best interests to write malicious code for Windows and macOS, since the vast majority of people use those operating systems. As a result, Linux users tend to get targeted less. Which is not to say that Linux machines don’t get malware and viruses. They do. It’s just that, statistically, you are less likely to get one.
Keep Your Bitcoin Machine Offline
Taking the last tip a step further, you might opt to keep your Bitcoin machine offline at all times. This eliminates the vast majority of hacking-related risks. In its simplest form, a setup with a dedicated offline machine would consist of the following:
A dedicated offline Bitcoin machine. Since it won’t be doing any serious processing, this can be any old laptop or PC with a fresh Linux install.
A primary, web-enabled computer. This machine should run the latest security software and OS updates.
A dedicated USB flash drive. This should only be used to transport data between your online and offline machines. Don’t store any other files on it.
A typical transaction using this setup would look something like this:
Create the transaction on your web-enabled computer.
Insert the flash drive into your main machine and transfer the transaction data to it.
Take the flash drive out of the web-enabled machine and connect it to the offline machine.
Sign the transaction on the offline machine.
Insert the flash drive with the signed transaction back into the online-enabled machine to take the signed transaction online.
Get a Multisignature (Multisig) Bitcoin Wallet
It’s extremely important to minimize your risk of getting hacked. But what happens if your private key does end up in the hands of a hacker? Does that automatically mean you have to kiss your hard-earned Bitcoin goodbye? Not necessarily. At least not if you’ve taken the preventive measure of creating a Multisig address. Multisig is an extra layer of protection that can help you protect your funds in case your main private key falls into the hands of wrongdoers. Rather than having one private key, a Multisig address has several. In most setups, to sign a transaction, you will need to possess two or more of these keys. This means that even if any one of your private keys gets compromised, the hacker still won’t be able to steal your Bitcoin. The most common Multisig setup is one called 2-of-3. You generate three private keys. To authorize a transaction, you will need to be in possession of two of these keys. The first key you store on your smartphone or computer for easy access. The second key you give to a second-layer authentication service. And the third key is your backup. You use it in case you lose access to your main key. To find out more, read our dedicated article about Multisig. Read full article at: https://wunderbit.co/blog/9-awesome-time-tested-tips-for-ultimate-bitcoin-safety
Hi, With more and more people buying bitcoin that only keep them on online market platform ( like coinbase, kraken, Quadri ... ) I would like to know what is the easy method to secure your coin on the web ( or off the web ) I saw the offline wallet, ubuntu workflow but please consider this not really user friendly for the average joe. Because the workflow here is complicated as hell for the mainstream mass. https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet Bitcoin will become mainstream ( we hope ) so any tips on how to ( easy ) secure them ... Does online bitcoin exchange platform are considered now safe enough ... plz help
The straightforward Bitcoin safety and security guide
Seen those posts of people who come here to commiserate about how they got their coins robbed? OK, let's make sure that does not happen to you.
Make sure your computer is safe
Pirated Windows? You're gonna have a bad time. Those pirated copies normally have slipstreamed key logger software and remote control software. If you receive bitcoins or log into an exchange there, you will lose your money. Also think of our bank accounts and credit card numbers. How to recover from this situation? Back up your data, blow away your computer's disk, install original Windows from the CD, install drivers from the CD, install Windows updates. Never use that Windows machine to browse for porn or warez. Do not install software you did not get from the manufacturer. Disable Flash (or use Chrome's sandboxed Flash) and do not think of installing Java. Do not visit sites whose security has been compromised (Chrome will tell you). "Too expensive"? Install Ubuntu then, possibly dual-booting Windows too. Make sure to encrypt your disk (the Ubuntu installer can do that automatically, so choose full disk encryption by default). The password must not be your login password. It should be a long phrase with made-up words that makes sense only to you. Take measures to keep a copy of that password somewhere you and only you can access. Bank safes are not safe -- they are the first place governments subpoenapilfer private info from. Then do Ubuntu updates, weekly. When you are on Ubuntu, do your normal Bitcoin stuff. Refrain from doing any of that while on Windows. Refrain from using "browser sync" of Firefox or Chrome under Windows. If you behave like this, then Windows programs can't see the Ubuntu data, and Windows malware generally can't jump into Ubuntu and watch what you do, so you are safe that way. Ubuntu by default also locks your screen after a few minutes of inactivity, so there's more security out of the box. You can also Ctrl+Alt+L to lock it by hand. This way you can watch your furry porn on Windows while keeping your money safe. "Too hard"? Well then, I'm sure being robbed possibly hundreds of thousands will be easier for you. Irresponsibility costs you and your family, be prepared to pay.
Encrypt your wallet
Whatever choice of wallet software you use, encrypt it from the start. You did not encrypt it? You're gonna have a bad time. Encrypting your wallet makes it so malicious people who obtain access to your wallet.dat file, cannot spend it. They need the password as well. The password must not be your login password, or your disk encryption password. It should be a long phrase with made-up words that makes sense only to you. Take measures to keep a copy of that password somewhere you and only you can access. Bank safes are not safe -- they are the first place governments subpoenapilfer private info from.
Never leave money floating in exchanges
Exchanges fail (some because the owners are frauds, most of the time because of government sabotage). Left lots of money on those exchanges? You're gonna have a bad time. Always transfer as much as you can to your computer walled. Once you have it in your computer, and your computer is secure, it will be very hard for anyone to rob you without threatening or initiating physical violence against you. In the Bitcoin world, exchanges are not banks. Your computer is. Trust first the environment you control, over the environment strangers control.
Don't squawk about your holdings
You don't blabber about your bank account balances or your credit purchasing power. Don't do it about Bitcoin either. This is just common sense. Now for the tech advice: whenever you receive Bitcoin from anybody, use a new address every time. This prevents any single address from pooling enormous amounts of bitcoins. Why is that something you want do prevent? Because the balance of addresses will be visible to the next person you send money to, as he can see the size of the transaction inputs. You are the owner of what you keep to yourself, and a slave to what you say.
Back your data up
At the very least, back up your user profile / home directory. Regularly. Optimally after receiving or sending money. Make sure your backup is encrypted too. A smallish external hard disk is not hard to buy. You can encrypt, unlock and mount, and lock and eject the disk, using the Disks tool that ships with Ubuntu. You can do the backup by hand if you know what files to copy, or you can use a simple terminal command like rsync -av --delete $HOME/ /mnt/whereverthediskwasmounted/ which will back everything up in your home directory. Stay away from El Cheapo USB sticks, as they can eat your data silently. Never remove the disk while on the middle of writing data to it. Make sure it is safe to remove before unplugging it. The Disks utility will allow you to know, for sure, when that is safe. Try to keep the disk away from the computer. Computers catch fire sometimes.
You have the tools necessary to protect yourself from theft of invaluable assets. Use them. Or pay the price. Feel free to ask me any questions.
So with the news about bitfinex, I can't help but wonder... Between this hack and Mt. Gox, we have had two big hacks that have cost a decent amount of money, but is there any way to measure how much has been hacked and lost from traditional banking and currencies? And how would you compare apples to apples? For example: Since its inception, two big hacks have resulted in a lost of $500-600 million (depending on the exchange rate). How much money has been lost due to traditional banking in that same time? Are you statistically safer keeping your money in a btc wallet thank a bank account? And I'm talking about at the retail level here, that a typical consumer can follow, not "I store my btc in a bla bla bla encrypted vault that can only be required by humming the second movement of the 1978 Battlestar Galactica Theme and then answer thirteen security questions by a magic gnome in middle high gnomish" I ask because I feel like btc's intrinsic value is its security, and when its security is breached, its value suffers. Also- how much of the Mt Gox money was recovered (Wikipedia says 200k of the 850k stolen). What are the odds of the bitfinex money being recovered? Finally- how come no one has come up with an insurance mechanism to protect people's assets? An open insurance system like the FDIC (though it doesn't have to be government regulated, so stop getting ready to flame) would not only encourage more mainstream use, but also stabilize the value by providing another layer of security.
[uncensored-r/Bitcoin] safety in numbers - join a group of members that are on a lookout for each other about exceptiona...
The following post by InGearX is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/79yl59 The original post's content was as follows:
for example - if DOJ (Department of Justice) deems for exchanges to fiat to be illegal in US crypt will fall to the bottom ... or any alike news ... alert fellow members - stay ahead of the herd ... sell before the drop - buy back in at the bottom ... we are a tight group of people that find safety, knowledge and power in numbers ... we have a private chat ... all for free ... if you are interested in joining please PM me ... thank you ...
Another important Bitcoin security and safety tip that any Bitcoin user should remember is to keep private keys offline. As you know, Bitcoin wallets would make use of public keys for sending and receiving Bitcoins. The public keys are also used for other functions such as checking your Bitcoin account balances. It is also the public keys that you will use to authorize payments from your ... Create a safety strategy that contains specially designed safety measures that will include the above-mentioned topics in order to successfully protect your Bitcoin investments. bitcoin.org was great several years ago, yet it has been hijacked by an infamous fraudster called 'Theymos'. So bitcoin.org becomes an anti-Bitcoin site. Many people reported that they lost money due to the malware spread by bitcoin.org I have been a supporter of Bitcoin since 2010, and I encourage everyone to beware of this shady site. Bitcoin can detect typos and usually won't let you send money to an invalid address by mistake, but it's best to have controls in place for additional safety and redundancy. Additional services might exist in the future to provide more choice and protection for both businesses and consumers. Bitcoin is not anonymous . Some effort is required to protect your privacy with Bitcoin. All Bitcoin ... Bitcoin's dramatic rise in value in 2017 captured the media's attention, but the currency isn't always safe from hackers, or even a failed hard drive. Consumer Reports looks at whether bitcoin is ...
Keep your Bitcoins safe - 4 Simple Steps - YouTube
How to keep your Bitcoin safe? We all heard of Bitcoin scams and saw that cryptocurrency funds can be stolen, so that is why in this video we talk Bitcoin wa... Support our channel by using the Brave browser, browse up to 3 times faster, no ads, get rewarded for browsing: http://bit.ly/35vHo0M There are numerous type... Bitcoin is a cryptocurrency generated by networks of computers and can be used to pay for many things online in place of traditional currencies. Since #bitco... In this Crypto Corner Robert Koenig explains how safe the Bitcoin blockchain is, and why it is worth spending all that electricity to secure the network. He ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.