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Thread: Is it safe to use bit coins

  1. #1
    Junior Member
    Join Date
    Sep 2013
    Posts
    24

    Is it safe to use bit coins

    Bit coins are quiet trending in the market and there are many who are using the same. I am looking for some information on its usage.

    I want to know that if it is safe to use? I found an app for my android tablet that allows converting actual currency to bit coin. And there is a market place from where one can buy stuff using bit coins. I want to use that because it is lot more cheaper.

    But I do not want to waste my money and I also way that the purchased bit coin remains safe in my wallet. So need some suggestions from you all.

  2. #2
    Senior Member
    Join Date
    Oct 2012
    Posts
    142

    Re: Is it safe to use bit coins

    Well it depends on the service provider. Bit coin is not sold directly. It is sold through some third party vendor. And he offers you a dashboard from where you can use the bit coin to make purchase. Until now it is not a authorized currency. That means no government around the globe is supporting the same.

    So according to me it is not safe to use. There are chances that in future you might not get any value in exchange of bit coin. Try to read on the same before buying it.

  3. #3

    Re: Is it safe to use bit coins

    Quote Originally Posted by Unknown View Post
    Well it depends on the service provider. Bit coin is not sold directly. It is sold through some third party vendor. And he offers you a dashboard from where you can use the bit coin to make purchase. Until now it is not a authorized currency. That means no government around the globe is supporting the same.
    It is right. Bit coin is a kind of unregulated currency. So there is nothing you can do. Nobody guarantee you an actual money value for the same. It is a free currency that rotates in people hands and it is not regulated.

    There are chances of replicating the currency. It is good if you use Wallet service by Google or by any other company which is authenticate and provide you valid solution. I will not recommend you to use Bit coin. From no angle it is safe to use.

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