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Tech Currency: Is the Bitcoin Secure?

There is a lot of buzz going around these days about Bitcoin. This is one of the newest forms of currency that people are using on a regular basis and for the most part people are beginning to come around to the concept. There is still though that group of people that will without a doubt, wonder if bitcoin is secure. This is a concern as there has been a lot of talk about how Bitcoin can be hacked and all of your currency can be stolen from you without a seconds warning. In a lot of ways, bitcoin has been considered even more secure than placing your money in a bank as banks are a lot easier to hack into and can be done in a fraction of the time. So, let’s remember that this system has been in place for a number of years and yet there have been few large issues actually associated with Bitcoin and the exchange system that has been developed. Now it is time to dive into this topic and see how secure the system really is.

For those that worry about hacker gaining access to your personal information or your wallet, there are a large number of measures in place that for the most part helps to make sure that the system is secure and free of being able to be hacked into. There have been a large number of sites and applications that have suffered from hackers. That is where the problem really is as the Bitcoin base protocol is secure and the hacks have occurred in applications that have been developed by third parties. The next question to ask is: how to know that Bitcoin is 100% secure and not able to be hacked easily?

There have been a large number of people that have looked into the whole code involving Bitcoin, these people have gone over the code on an almost religious method and yet they have not been able to find a flaw that a hacker could use to hack Bitcoin and make off with the worlds money. Trust me if there was a way that this could be exploited, there would have already been an incident and that would have led to a massive collapse in the world markets by now. So, in closing, there is nothing to worry about when it comes to Bitcoin and security.

If Bitcoin is going to remain as one of the top ways for people to do business, then there is going to need to be a change in the way that people view Bitcoin and if it is going to be safe or not. Without the need for a bank, there are various pros and cons, something such as getting student credit cards with no credit surprisingly could rival. For example, you get protection with a credit card, the same cannot really be said with Bitcoin – hence why it is highly popular within the deep web.

No system is secure and often times when a flaw arises, there will be someone in place to ensure that this is not exploited to their gain. Bitcoin will be one of the best ways for money to be exchanged on a regular basis and as a result, security will be one of the top priorities that the developers of Bitcoin will keep an eye on and will become more secure as time goes by.

What do you think?

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