What is Bitcoin?
Bitcoin is a digital currency that has recently gained popularity in the field of technology and finance. The best thing about Bitcoin is that it does not rely on a central authority or a bank to handle transactions. This is a significant reason why Bitcoin is called the currency of the internet. It is a new currency that has not seen massive adoption yet, but has been rising in value rapidly over the last few years.
Also, let us remember that Bitcoin is a form of payment made through a peer-to-peer network, making it highly secure. The biggest issue people encounter with Bitcoin is the lack of a physical piece of paper that signifies the value of Bitcoin. They do not have this to help them access their own funds.
A brief history of Bitcoin
Created in 2009, Bitcoin was once believed to be a software program but now the digital currency has been put into physical form. It is the most popular digital currency in the world and the simplest way to buy anything online, with the exception of international transfer. With its high anonymity and its extremely low transaction fees, Bitcoin has become a topic of interest and a favorite for criminal organizations and blackmailers.
Keeping up with this evolution, criminals have tried to use it as a currency to fuel their business activities and to profit from the digital currency trading market. With the use of services that have a good reputation, online criminals have hijacked millions of Bitcoin from their owners.
What are the Risks of having your Bitcoins at an Exchange?
If you are an active trader, as many people are nowadays, then you’ve definitely heard of Bitcoin. It’s a new and amazing digital currency that’s been receiving a lot of attention over the past couple of years. Moreover, because it’s decentralised and has a low transaction cost, it is pretty much impossible for fraudsters to take away from you. This is why it’s incredibly important to look after your Bitcoin.
The next step is, of course, to buy Bitcoin to store on an exchange. Your first step should be to find the best one. Though, finding the perfect place to store your funds could prove to be a lot more difficult than you would think. As a victim of a Bitcoin scam, you probably thought you were safe and that you could find safe storage of your hard-earned coins.
How to Recover Your Funds from an Exchange
In this article, we will share with you all the knowledge you need to recover your Bitcoins or other online funds. The number of exchanges is growing at an alarming rate. Thus, it’s important for people to know how to identify a trustworthy exchange or Bitcoin related company before parting with their hard-earned money.
The Cointelegraph has conducted a comprehensive analysis of the top Bitcoin exchanges in the market today.
The latest Bitcoin exchange to break through into mainstream media, the Binance exchange is available across the world in 36 different currencies and currently has over $16.5 billion dollars worth of Bitcoin outstanding on the platform. This sum is equal to one month worth of trading fees.