Bitcoin is one excited cryptocurrency and one amazing technology. There are many instances where people lost their BTC. The reasons were different. Bitcoin is based on one robust technology known as Blockchain but any people always come up with questions like “Can Bitcoin be Stolen?”. Let’s take a look at it.
Security of Bitcoin
You can transfer Bitcoin anywhere in the world and the great thing about Bitcoin is that it allows you to be in command of your BTC. Such great traits also come with high-security anxieties. There are many Bitcoin wallets available. They all profess to put Bitcoin securely, and perhaps they do – besides they want to provide a user to use them but if you don’t have the private key, then it is difficult.
But Yes, hackers can steal your Bitcoin simply because attackers now a days use advanced hacking techniques and tools to create a program that looks like your wallet to steal.
Can hackers steal your Bitcoin?
Yes it is possible if you give your private key to attackers. In normal cases,it is very difficult to steal or enter into a wallet without the consent of the owner. Private key is the most important thing in the world of cryptocurrency. Users put BTC in a wallet. If attackers don’t get your private key and passphrase then your Bitcoin is technically safe. But there are special events such as transaction within Bitcoin network that can drive to scamming in which attackers can scam and steal Bitcoin.
One may claim that bitcoin is stealable. But in most cases, you will find that it is followed by human error and bad decision-making experiences or negligence.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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