Any central bank or government does not issue Bitcoins, so there is no accountability at all. If you are dealing with the dollar, euro, or pound, you are sure that the government behind it will bear debts, and bitcoins do not give any guarantees at all. The fact that no one knows who made this coin, so it’s impossible to find out if it can be stolen from below our eyes.
Bitcoins are kept in a digital wallet which can be encrypted on the computer. Although this must provide a sense of security in the event of the loss of your laptop, bitcoins also disappeared. This is not like a credit card, where you can get a replacement and continue as if nothing had happened.
While the safety of this coin is mostly a problem, its value is of most significant concern. The perceived value of bitcoin can change in an instant, and unlike banknotes secured by fixed assets owned by the country, if the value of bitcoin decreases, you will have nothing.
Several exchanges in the world sell and buy bitcoins at a reasonable btc price, but you should not buy them, believing that they will increase in value. This is a digital product that some people call “fashion.” Tomorrow you can lose all your true meaning and never recover.
So, to summarize the hazards, you don’t have real protection with bitcoins because the government doesn’t provide them. The value, if it is very variable and can be reduced to zero with a heartbeat, and the simple fact that the coin was only a few years ago, seems unreliable.
If you are looking for a way to save value, precious metals such as gold, silver, and platinum may be more useful since they have been used as a medium of exchange for centuries.
When it arrives at investing, you must never make foolish decisions, and you must weigh the potential risks and benefits and remember which there are no specific things about cryptocurrencies such as bitcoins, so you should approach at your own risk.