The main disadvantage of bitcoin?

For me, there are two main ones: an unstable rate and a rather long (here it would even be more correct to say – not instant) waiting time for payment confirmation.

In the first case, relatively speaking, having come to the store, yesterday you could buy milk for the same amount of BTC, but today the price for the same milk is already different, although, in fact, the price of milk in the store has not changed. The attitude of bitcoin to fiat currency has changed. To cue ball came into everyday life and everyday life, you need stability.

And if you include an economist, you can add that, in the case of ordinary currency, the Central Bank regulates the amount of money so that it matches the volume of goods and services. Bitcoin is constantly fluctuating in price, it is beneficial for the people to use it as a tool for making money, and not as a direct purpose of money – payment for goods or services.

About the time of payment confirmation, I think, and so it is clear. At the store you cannot afford to stand for ten minutes, waiting for the first confirmation of payment. But someone else may require a third one ๐Ÿ™‚ If itโ€™s still convenient to pay for purchases on the Internet, there is no need for instant money transfer for a service, then in everyday life, this, of course, is not practical.

As a result: Bitcoin is perfect for transferring money to the other side of the world, making purchases on the Internet, making money, and, of course, for depositing in LiteForex.

Security

If an attacker gains access to a wallet, this is the end. You will not track it in 99% of cases and you will not return your blood cue ball.

But if you follow the rules of cybersecurity and competently approach the protection of your wallet, then you can not worry about the safety of your crypto.

Firstly, in the case of Electrum, keep the seed and you will keep it. Be sure to save it on some other resource, in addition to where your wallet is located. You can even print it on a piece of paper and put it in a safe.

Secondly, put a complex password on the wallet. With a different register, numbers, letters, just do not forget it yourself. If the wallet has the opportunity, then put two-factor authorization. When you try to enter your personal account, you will be asked to confirm this action in another way, for example, by entering the code that will be sent via SMS to the phone.

Thirdly, if possible, then have a portable version of the wallet, after putting it on a clean, formatted USB flash drive (you will find how to format a USB flash drive on the Internet yourself, your homework). The computer from which you will send your cue ball, check for viruses, etc. (free option – dr WEB ) and donโ€™t go to the sites that your favorite browser asks you not to enter. And, in principle, comply with the main cybersecurity criteria of your computer.

And fourthly, back up. There is a real threat in the form of a malfunction in the system or your computer, so I advise you to create a copy for recovery. In order not to lose bitcoin, even the smallest (Satoshi), copies need to be done regularly, and, of course, encrypt them.

Be sure, if you accumulate a substantial MTC amount, do not store the entire amount in an online wallet! Store your blood coins in different wallets. Send a few cues to the wallet convenient for you from which you will conduct BTC transactions, while the rest should be stored in a reliable and well-hidden PC wallet.

I store the bulk of my PTS amount on a flash drive in an Electrum portable wallet, which is difficult to password-protect. I store the seed from the wallet both in the physical version (on paper) and in a digital, securely hidden place (where? Secret :)) I store a small number of cues for operations in the Blockchain wallet, to which I have access both from the phone, so from a computer.

You can also bring the PTS-wallet offline, increasing the security of funds and the level of anonymity, but this is for more advanced users.

Well, how do you, at first glance, is bitcoin simple or difficult? ๐Ÿ™‚

Write your opinions in the comments below, your attention is the best thanks for my work ๐Ÿ™‚

Bitcoins

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