Is your bitcoin safe?
Crypto is a new, decentralized world of finance
and everyone in this world is the sole owner of his crypto assets.
Meaning, "there is no need for the bank anymore" as I can transfer
and receive funds digitally in a secure manner,
without a central authority such as a traditional bank.
Every day around 1 Million transactions are registered for Bitcoin and Ethereum alone.
What does it mean going forward? Will all traditional banks disappear?
It means people will become more responsible about protecting their money.
"It's quite simple", all you need is to to memorize 12 random words or else all your funds will be gone for good :-)
Ok, but then you can just write them on a piece of paper,
I wrote mine on a piece of paper a couple of months ago, it was Thursday night, and I was very tired.
On Friday noon, when I remembered, I called frantically to my wife asking her
“Dear, did you see a note with bunch of words on the kitchen table?”
Well, she didn't notice it but next thing I did was dumpster diving trying to salvage my 2.5 BTC from the garbage.
I’m pretty confident this is not the only case something like that happened.
Once we own our private keys, we become a target.
Someone can lure us into providing it to them using a phishing attack,
or simply steal them through our laptop or phone.
So if we won't have banks to store our accounts, who will help us keep our money safe?
And if something happened, is there anyone we can turn to that will help us?
And who can be held responsible for losing our funds, besides us?
Current wallet solutions provide the end user with a complicated experience,
if you are not a sophisticated user, investor, developer or hacker,
then you probably don’t own any cryptocurrencies
(and if you did, you consulted a friend who is).
If we want this to change, we must develop a solution that is easy to operate,
A solution so secure and user-friendly, that everyone can use!