Nowadays as we all know that crypto currencies are ruling all over the world. So it can be said that the use of crypto currency such as bitcoinis of the best option of making transactions. By using this digitalized system of transaction you can transfer your money at any time from anyplace anywhere with the online system. Bitcoin is one of the popular crypto currency modes of the online payment system in today’s world. These online coins are introduced in 2009 and are founded by Satoshi Nakamoto. Its digital mode works out without any administrator such as any of the central banks. It is a record of all your transactions and all these records are get recorded in a blockchain ledger. Blockchain ledger will have all records of your coins too. This cryptocurrency is such a secure payment system where the sender and receiver do transactions with the help of a unique code only. This will result in the processing of the transaction through a secure code which implies that the transaction is secured.
Numerous risk factors can occur –
Some of the risk factors are as follows-
- For each and every online payment systems, the coins involved in payment holds third party risk (say, hacker or cyber).
- The payment between the sender and the receiver must maintain by a unique code. Keep this code secret, do not share it with anyone.
- Must need some antivirus software installed on your system so that no hackers can hack your piece of information while doing digitalized payments.
- If there is an absence of antivirus on your system then, due to the poor security, hackers may hack your data.
- Once your piece of information is leaked at last you will find that your entire wallet got nil and you have nothing left with you.
These are some risk measures which you must keep in mind to avoid any cheating. So, it’s better to do all the safety measures done before making crypto currency transactions.