Bitcoin Mining Service was able to hack $ 64 Million in 2017
Hackers were able to steal more than $ 40 Million in 2018 through crypto exchange
12 Major cryptocurrency exchanges were hacked in 2019 and reached $ 292 Million
And when you are not aware, You NEXT ....
Hi!Ka'Yanto Nation, Welcome in this Video.
So, now this is part 2 of How Blockchain Works.
If you have not yet watched this video
make sure to watch it first so that you can better understand how the blockchain works before you watch this video
For you to be aware if we have a term that is not explained here, I'm sure that in this video it is explained
So, what we are going to talk about here in Part 2 are the 5 Common Threats of how bitcoin was stolen from someone
I said in the first video that the blockchain cannot be hacked so what the hackers will do is direct it to you.
Bitcoin Mining Service was able to hack $ 64 Million in 2017
12 Major cryptocurrency exchanges were hacked in 2019 and reached $ 292 Million
how did hackers get bitcoin without entering the blockchain?
SO, these are the reasons why we need to be careful
I did not make this video to scare you not to enter cryptocurrency
I made this video so that you can be careful and be aware of the various tricks that the scammer does to get you a digital coin
In reality bitcoin is Secure
even ordinary people like us can protect the digital coin without making a big effort
But the problem is, not everyone understands how the blockchain works
so most of us are exposed to wrongdoings where we are OPEN to scammers
So, here we will give a clear example that can describe the common ways in which scammers use to get a digital coin in person
But make sure you watch this video first to make it clearer to you how the blockchain works
Bitcoin is a Digital Coin
But to better understand it, think of it as a common currency that you can handle and you can put it in a safety deposit box
The question here is, can you operate the box, the safety deposit box
OR you will need a third party who will work to secure your money
Ordinary investors prefer the option to buy and store bitcoin in a service like Coins.ph
So, even if I am, this is really the better option for me because these services have a security feature for digital coin, which you can hold yourself
Another option is to create your own bitcoin wallet. Which is you the one holding it yourself
So, here we have what is called public key and private key
The public key is like a deposit slot for your safety deposit box where people will use it to give you bitcoin
AND the private key is like a key, unique key to open your safety deposit box and you only need to know it
Bitcoin is designed to be secured. This means that there is unlikely that someone will guess the private key you are using
SO, in all I mentioned the only way scammers get bitcoin or your digital coin is to cheat you
or they will use a third party to give them digital coins yourself
So I will give you five examples of how this happens and also advice so that you can prevent these activities
# 1. A Thief Obtains the Password for Your Account at a Storage Service
If you use a service like coins.ph, you do not have to worry about securing your public and private keys
Because once you use the service, you will only need to remember or secured your email address and password
Its disadvantage is that it is easier for hackers or scammers to enter
or steal a digital coin by getting a password from your digital wallet
This happened to me personally, someone will email you to reset the password because someone is trying to open an account on coins.ph
Then next they will do it once at the link they provide you enter your password, automatically you can open your account and access your bitcoin funds
