In today’s uncertain economic climate, people are searching for alternative ways to invest and store their money. With high inflation rates during the last month and yet another crisis in the financial system, one option that has gained significant popularity is cryptocurrency, particularly Bitcoin. We just need to take a look at its price, which closed at $16,619.10 on January 1, 2023, only to reach $28,516.78 three months later on April 1, a whopping increase of 71.58%. However, many people still have reservations about investing in digital currencies due to fears of theft and uncertainty about how it all works. Bitcoin is a decentralized digital currency that operates on a peer-to-peer network. This means that there is no central authority controlling it and transactions are verified by the network’s users. When you own Bitcoin, you have a private key that is used to sign transactions and a public key that is used to receive transactions. These keys are essential for accessing and transferring your Bitcoin. Bitcoin is not physically stored in a single location. Instead, transactions involving Bitcoin are recorded on a public ledger called the blockchain, which is maintained by a decentralized network of computers around the world. When someone sends Bitcoin to your wallet, what they are actually doing is updating the blockchain to reflect the transfer of ownership from their wallet to yours.

Full report : How to fortify your cryptocurrency security.