When you first start thinking about investing in cryptocurrencies, you may wonder if Bitcoin is safe. It’s the first cryptocurrency and has been the subject of many debates, but the answer is a resounding yes. Although some people worry about its use, Bitcoin is generally secure and is not a target for hackers. Its value has increased substantially in recent years, and many users are enjoying a lifetime supply of Klondike bars and coffee.
Bitcoin is made of open source code. These codes create a permanent public ledger that’s decentralized. Each transaction is represented by a “block,” chained to a unique code. This decentralized system makes it very trustworthy. The government cannot directly intervene and control the value of digital currency. The system also has built-in safeguards against hacking and theft. For example, if a hacker steals your bitcoin, you can be rest assured that you won’t lose any money.
There are several reasons to consider investing in Bitcoin. Its value has risen steadily since 2009. It has experienced a period of stagnation, and is currently 600% of its pre-bubble valuation. That means that you’ll have the opportunity to reap a substantial profit, but you’ll also risk losing your money. While it’s possible to make a profit by mining, it’s not a sure thing.