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    Blocktoq»After Hours»Is Bitcoin safe in our hands?
    After Hours

    Is Bitcoin safe in our hands?

    KonradBy Konrad4 May 2020Updated:12 March 2021No Comments2 Mins Read
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    Биткоин в наших руках? Как обезопасить свой Биткоин?|Исследование о безопасности биткоина|Где люди проводят свое исследование BTC 2020|Исследование биткоин частные ключи 2020|Хакерские атаки на криптовалютные биржи
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    The analyst has published the results of the BTC safety survey and gives its opinion on the subject.

    In short:

    • Survey
    • Results
    • The safest way

    Survey

    The Reddit’s user, known more widely under the pseudonym Gunnaj, published the results of the survey as part of his doctoral thesis. He researched 339 people and asked them questions about Bitcoin’s security, especially to find out how the owners of BTC use their private keys.

    Survey about Bitcoin security

    Results

    After asking survey participants where they kept their BTCs, 46% of respondents answered that they use a crypto wallet such as the popular Ledger Nano or Trezor. Hardware wallet allows us to access the blockchain and thanks to it we can store our private key so that our funds do not “escape” as it has been many times on various exchanges.

    Where people hold their BTC survey 2020

    source: Reddit

    Key storage security and backups were also discussed in Gunnaja’s doctoral thesis. Approximately 88% of those surveyed admitted that they kept back-up copies of their keys, 70% of which was on a piece of paper.

    Bitcoin survey private keys 2020

    The safest way

    According to Gunnaj’s analyses and the opinions of experts in the crypto industry, the old-school method where we store our cryptocurrencies on paper may be the safest of all. This is because you keep your data 100% confidential with good protection of such a portfolio. According to The Block research, the amount of hacking attacks on crypto exchanges since 2012 has been over $1.2 billion. And thousands of BTCs have been lost by their owners destroying equipment or losing their private keys without backup. 

    Hack attacks on crypto exchanges

    source: TheBlockCrypto

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