Are cryptocurrencies secure? (Bitcoin, Litecoin, etc.)
Crypto has unparalleled security and privacy measures in place. The blockchain network has never been hacked since it’s inception, and continues to be the ultimate way to transfer funds.
SECURITY
When using a Digital Wallet, all your crypto-related information is stored on your personal device. Nothing is stored on a server unless you choose to use an online Digital Wallet.
In order to access your funds, someone would need to physically access your specific device, know your password(s), as well as know your unique Digital Wallet password.
Every single crypto transaction is recorded on the blockchain with a unique address consisting of numbers and letters. The blockchain is a detailed ledger of every transaction since the inception of cryptocurrency. This ledger ensures that no transaction can ever be lost or misinterpreted.
The strict verification process ensures that all transactions are 100% secure and are always verified by all parties involved.
PRIVACY
None of your personal information is ever kept on the ledger. The ledger holds only the cryptocurrency addresses from both the sender and receiver of the transaction.
All transactions are private and purely between you and the other party. When using a Digital Wallet, nobody else on earth is aware of your transactions.