Bitcoin is completely safe and secure for a number of reasons:
► Bitcoin is encrypted and backed on the blockchain. And the encryption is done through the solving of algorithms handled by multiple miners. In simple terms, the security of the blockchain is based on proven math; impossible to alter or tamper with.
► Bitcoin is public, meaning all transactions are transparent and can be seen by anyone, while the individuals involved remain anonymous.
►Bitcoin is decentralized. Without a single entity controlling things, there is no way funds can be seized, withheld or misused. Bitcoin has servers all over the world, with thousands of computers doing the work to approve transactions.
► Exchange wallets, where you buy and transfer Bitcoin, utilize multiple layers of security (Username, Password and 2-Factor Authentication) to ensure only the account owner can gain access.
Protection against price fluctuations
Just like any currency or equity, changes in the value of Bitcoin can occur. This is why at BookMaker we do not endorse the use of Bitcoin as an investment tool. We always recommend you do the following:
► Purchase only the amount in Bitcoin that you wish to deposit
► Withdraw only amounts that you will immediately convert back to government-issued currency (e.g., US Dollars).
When you use Bitcoin following these guidelines, you significantly lower the possibility that a drop in value could affect you.
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