How Safe Is Bitcoin?

Bitcoin is often described as risky. But the risks depend on what you are talking about. The Bitcoin network itself is extremely secure. Using Bitcoin incorrectly, however, can be risky. Understanding this difference is key.

Bitcoin is secured by a global network of computers. These computers verify transactions and protect the blockchain. To attack Bitcoin, an attacker would need massive computing power and enormous amounts of energy (to be exact: at least 51% of the whole computing power).

Because of this:

• The blockchain cannot be easily altered
• Transactions cannot be faked
• The system has no single point of failure

Bitcoin gives users full control over their money. With that control comes responsibility.

• If you lose your private keys, you lose access to your funds
• Sending Bitcoin to the wrong address cannot be reversed
• Scams and fake apps target inexperienced users

Bitcoin itself is secure. Most losses happen because of user mistakes, not because the system was hacked.