Crypto is our future. Many people are accustomed to fiat and do not fully understand what is behind e-money, and whether it is safe. We will shed some light on this and point out 5 reasons why you, as a novice or already professional crypto owner, should not worry about its safety.

Reason 1

Let's start with the technologies with which the first electronic currency Bitcoin saw the light of day. In 1983, the first electronic cash protocol appeared. In 1998, the idea of “b-money” was born, which hovered in a narrow circle of cypherpunks - connoisseurs of anonymity and cryptography. In 2009, Satoshi Nakamoto made a breakthrough and launched Bitcoin into circulation.

Crypto technology owes a lot to algebra, cryptography, and computer science, which not only helped programmers create the first blockchain (chains of transaction data with unique addresses) but still perfectly cope with its protection. As you know, there are various algorithms to ensure this security. All of them are related to data encryption, adding new blocks with crypto to the blockchain, and so on.

The first step that any of your transactions goes through is hashing. The data is turned into a hash string and is impossible for external changes. Changing even one byte of the incoming data will change the hash beyond recognition. Now even quantum computers can't crack this system, because programmers and cryptographers skillfully encrypt any data!

Reason 2

Of course, verifying transactions and adding new blocks to the blockchain must be somehow controlled. There is a second reason why we can talk about the security of crypto technology.

Anyone familiar with consensus algorithms knows that these are various secure, verifiable blockchain extension methods. In the picture below, you can see most of the consensus algorithms.

The most famous algorithms are proof-of-work and proof-of-stake. The first is directly related to Mining. That is, to mint a new block, people use special high-powered computers that solve complex mathematical problems. Whoever solves first is honored to expand the huge crypto chain. This consensus algorithm was the first since it was the one used by Satoshi for Bitcoin. Proof-of-stake has a slightly different system. In this case, the existing owners of the blockchain currency are responsible for verifying transactions and adding new blocks. Similarly, this applies to Staking (Farming) - the process of obtaining various tokens (certain tokens) for holding a sum of certain tokens.

Reason 3

The next reason is related to the security of places where crypto is stored. There are many Сrypto Wallets. There are Cold ones, there are Hot ones - all of them allow you not to worry about assets, subject to important conditions:

• It's forbidden to share the access key to the wallet or any kind of personal authentication.
• It's crucial to be extremely careful with the scam and add currency addresses only from official sources.

Read several BetFury guides that will definitely help you understand the variety of Crypto Wallets and how to correctly add networks & tokens.

Therefore, crypto wallets are perfectly protected. If you take care of passwords, hide them and resist scams, then even an experienced hacker will not hack you.

Reason 4

We figured out the main blockchain system, with the storage and transfer of cryptocurrencies. All that remains is to check the use of different tokens and coins on online platforms. Basically, the programmers did their best with protection. For example, Binance, one of the well-known platforms, has many layers of protection, such as a password, email code, SMS, and even an Authenticator.

Crypto business sharks need to maintain order and not jeopardize both security and reputation. All official platforms have a list of necessary protective methods and technical support that will try to solve your problem. Therefore, hackers do not get through!

Bet Fury is also well-protected. Read the article about Two-Factor Authentication (2FA), put up this magical security barrier, and enjoy the entertainment!

Reason 5

The generation gap has brought us a constant balance between fiat and crypto, pickpockets and hackers, robberies and hacks. Someone prefers classic means of payment, while someone moves with the times.

It’s quite interesting that although everyone has been using money for millennia, and cryptocurrency has appeared recently, the security of the last is much higher. This is because the foundations of crypto are laid by cryptography, while fiat is held by law, banks, and people directly. So, crypto is as safe as possible and you can't always rely on fiat.

In conclusion, crypto is safe, and we have stated 5 reasons why this is so. Do not forget about the human factor, when, through negligence, data can get to intruders. But if you follow clear instructions, read various guides and learn a lot about crypto, you will never become a target for hackers.

Take care of personal accounts so as not to worry about security. Earn crypto and have fun playing your favorite games on BetFury!