Why Bitcoin is the Most Secure Currency in the World

There is a reason that Bitcoin is so popular, and aside from many of the other pros that come with using Bitcoin, the fact that it is so secure is certainly one of the biggest pull for many people.

 

One of the best things about Bitcoin’s security comes from the fact that it is not controlled by a central organization or authority (not dissimilar to gold). This keeps the playing field fair and safe and is one of the reasons it has grown in popularity in the past few years.

 

In order to access your Bitcoins, you are required to use a private key that is individual to you, to confirm that you who you are the owner of the Bitcoins. You are also issued a public key which allows other people to send money to your Bitcoin wallet; however, this is entirely different to your private key to make it a little more secure.

 

You are able to backup your Bitcoin wallet to protect you from any computer issues, and by encrypting these backups, you give yourself yet another level of security from malicious software that may be trying to steal your hard mined Bitcoins! For best practice, these backups should be spread out over several different mediums, eg., Memory sticks, CDs, etc. These are just a few ways that you can really maximize the security that Bitcoin can offer.

 

If you are lucky enough to have a decent chunk of Bitcoin, there are more secure ways of storing them than just keeping them in an online wallet. These “wallets” can be printed out on paper which contains the private and public keys which can then be kept safe. Another option is hardware wallets which allow you to store your Bitcoins offline and these can be made immune to viruses that some people can use to steal the coins (something which is almost impossible to do anything about once it has happened). Some people store their Bitcoins on a hard drive that is left unplugged and in a safe place to keep the Bitcoins secure.  

 

As you can see, there are so many ways in which Bitcoin is a secure currency, offering ways of security that “classic” currency cannot offer. Especially if you take all the precautions that are available, you should feel pretty safe and secure using Bitcoin.