If you have paid attention to the news lately, chances are
you have heard something about Bitcoin. Bitcoin is a digital currency on an
open source payment network that was introduced in 2009. Funds are transferred
between Bitcoin addresses, and spending these funds requires users to send a
payment message that has been digitally signed with the customer’s
cryptographic key. The popularity of this payment technology is relatively new,
but is growing very quickly. With such a new currency, it is important to be
safe and protect your information should you decide to test Bitcoin out.
Computer World has posted an article that relays the top three risks of
Bitcoin:
1. Bitcoin
fund transfers are irreversible, so it is important to be extremely cautious
when completing Bitcoin transactions. Once you send the funds, there is no
guarantee that you will get them back.
2. Bitcoin
funds are processed through electronic keys, and if these keys were decrypted
they could be used by sent to another user. Although you do not want to
over-encrypt the keys, it is important to keep them safe and protected from
hackers.
3. Some
federal agencies are on board, but most commercial banks are still unsure of
Bitcoin. Although Bitcoin is deigned to run without any bank interference, the
lack of support from commercial banks reduces the amount of regulation that is
put on Bitcoin.
It is highly suggested to thoroughly do your research before
using bitcoins. If you have any questions, please contact us, or click on the
links below for more information.
No comments:
Post a Comment