0:52
beginner
June 13, 2022
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is bitcoin safe?

The safety of your Bitcoin (BTC) being stolen is down to the security of the exchange your BTC is being held on. The developers behind the maxxer exchange have extensive experience in cybersecurity and programming to ensure your BTC cannot be exploited. However, the safest way of holding BTC is on a physical hardware wallet, as these are offline and therefore cannot be hacked remotely. This is otherwise known as ‘cold storage’.

Many high profile exchanges experience huge exploits, notably in 2019 where $40 million of crypto was stolen from one leading exchange. The largest exploit to date was $615 million in 2022. However, as hackers progress, so does the security protocols of these exchanges, and their ability to neutralise attack attempts improves vastly.

There are some major pros and cons that need to be considered when deciding where you store your BTC; on a centralised or decentralised exchange, for example. The attacks mentioned above are uncommon, and you are very unlikely to be subject to an exploit like it - but proceeding with caution is always important not only with BTC, but with crypto in general. Cold storage is the safest place to store your crypto, and there are multiple products to be found on the web.

*The content hereby presented is for informational purposes only. Nothing of this content that is available to you shall be considered as financial, legal or tax advice. Please, keep in mind that trading cryptocurrencies pose a considerable risk of loss.

*The content hereby presented is for informational purposes only. Nothing of this content that is available to you shall be considered as financial, legal or tax advice. Please, keep in mind that trading cryptocurrencies pose a considerable risk of loss.

is bitcoin safe?

The safety of your Bitcoin (BTC) being stolen is down to the security of the exchange your BTC is being held on. The developers behind the maxxer exchange have extensive experience in cybersecurity and programming to ensure your BTC cannot be exploited. However, the safest way of holding BTC is on a physical hardware wallet, as these are offline and therefore cannot be hacked remotely. This is otherwise known as ‘cold storage’.

Many high profile exchanges experience huge exploits, notably in 2019 where $40 million of crypto was stolen from one leading exchange. The largest exploit to date was $615 million in 2022. However, as hackers progress, so does the security protocols of these exchanges, and their ability to neutralise attack attempts improves vastly.

There are some major pros and cons that need to be considered when deciding where you store your BTC; on a centralised or decentralised exchange, for example. The attacks mentioned above are uncommon, and you are very unlikely to be subject to an exploit like it - but proceeding with caution is always important not only with BTC, but with crypto in general. Cold storage is the safest place to store your crypto, and there are multiple products to be found on the web.

*The content hereby presented is for informational purposes only. Nothing of this content that is available to you shall be considered as financial, legal or tax advice. Please, keep in mind that trading cryptocurrencies pose a considerable risk of loss.

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June 13, 2022
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