Cons You Have to Face when You Are Using BitCoin

Cons You Have to Face when You Are Using BitCoin

why bitcoin

However, it’s been a common thing that everyone now has BitCoin. Recently, BitCoin was happening several years ago, but now it’s still booming around the world. No one can control BitCoin, and no one can guarantee the BitCoin. It is a cryptocurrency where there is no one or countries control the currency because it is an independent virtual currency. The Even government in most of the countries that let BitCoin grow there does not interrupt BitCoin. There are some good things that conventional currency does not have like in BitCoin like you don’t need to save and get the physical form to pay, you only need a virtual account to save the BitCoin. Although it’s pretty safe to save, as it is too simple, BitCoin also has a problem in saving. It’s been a common issue for those who have BitCoin account because the saving is too simple like you don’t need books or else to save, but it depends on your storage on your computer or Cloud because BitCoin is in the form of codes that are saved well in a digital file. What is the issue?

Saving issue

First of all, let’s say that we have the digital wallet for BitCoin. To be able to spend BitCoin, you have to have code bar called Private Key. This code line is saved in the digital wallet when you are going to use, you have to access the code, and you can use to the transaction. This private key can be saved in your local storage in the computer of printed into the paper of private key. The most common issue following the simplest saving of BitCoin that the private key can be stolen and accessed when it’s lost. When it happens, all of your BitCoin can be gone too forever, and you cannot get it back. It is unlike things in the common bank that you can get it back if you follow the procedures. It’s been a unsurprised issue when there have been so many hackers finding a right account that has big saves of BitCoin. Even some hackers can get BitCoin that is equal to 1,2 million USD.

Even if you don’t save your private key on the internet can have a chance to be stolen as when you have a hard disk, and you save the BitCoin there, you lost your hard disk, you have to let it gone. Even when you realize that BitCoin you have is equal to millions of dollars. That is why it is important to see that not all virtual things can be good for you. The only problem when you want to join and you spend money in investment in BitCoin, you just follow the trend, and you don’t have an idea to grow and prevent any bad thing that may harm your business. Saving issue has been number one issue that everyone is running in BitCoin knows that it can be forever issued that no one can solve it clearly and faster because we all know that virtual stuff is just a side thing that everyone can ignore anytime.