Security Concerns and Risks Related To Bitcoin

This is an article on Tripwire.com that gives an account on security details and risks related to Bitcoin in general. The article was published on March 08, 2018 under the section Security Awareness. It has social media features where you can share to different social platforms (about 32 of them) to ensure the article reaches all crypto communities.

It introduces readers to Bitcoin and how successful it had been over the years. It talks about different operations we now use virtual cryptocurrencies like Bitcoin for these days and some risks and concerns that follows.

Below are some of the explained security concerns and risks associated with Bitcoins nowadays;

1. Vulnerability of Wallets: Almost everyone who uses Bitcoin has one wallet or the other. There are different types of wallets and most of them are susceptible to hacks or theft. The best kind of wallet to use is that which stores fund in an offline storage.
2. Cyber-Attacks: This is one of the most common type of security concerns in the world of crypto and internet generally. So far you use the internet to perform operations, you are liable to fall into cyber-attacks except you are strongly protected by some security protocols.
3. Selfish Mining: This is a kind of conspiracy on cryptocurrencies which are caused by greedy miners of cryptocurrencies like Bitcoin.
4. Other concerns are; 51 Attacks, Double Spending, etc.