Safety Tips For Using Bitcoins

Bitcoin is a great new way to send and receive payments. There are many excellent benefits in using bitcoins. However, like any new technology, bitcoins too have its own disadvantages but not to the extent that it cannot be used because of them. Knowing the disadvantages is the first step to overcoming them and as far as bitcoins are concerned, it just calls for a bit of caution. If we can learn to use cash, credit card and debit card safely, which also have their own disadvantages and risks then we can also do the same with bitcoins. Here are few safety tips for bitcoins usage.

#1 Make use of the most trusted platforms for buying, selling and exchanging bitcoins. You will be able to buy and sell bitcoins in your local currency but the trading platform that you select should enjoy good reputation. This is the first and foremost safety tip that you should remember. You can find bitcoins on Bitwallet, one of the most trusted platforms for all bitcoin trading activities.

#2 Make sure to take a backup for your bitcoin wallet. If you lose your wallet, you could lose all your bitcoins. So you need to make sure that you take regular backups of your bitcoin wallet. You need to encrypt your backup file too.

#3 Make certain that you are sending your bitcoins to the correct address. If you make mistakes here then you should know it is irreversible. You cannot charge back your bitcoin payments. You need to make it a habit to double check the address before you send the bitcoins so that you are not losing your money unnecessarily.

#4 Deal only with trusted people. If you have experience dealing with a particular vendor, buyer or seller and if your experience with them has been positive then add them to your trusted list if not put them in list of risky vendors so that you are not dealing with risky agents even by mistake the next time.

#5 Make use of the escrow services as and when possible. You will need to make use of escrow services when you are dealing with a new vendor for the first time or until you establish mutual trust with the seller that you are dealing with.

Bitwallet is one of the safest online trading platform for bitcoins. You will be able to get very dependable service from this source. This company offers very reliable customer support. If there are any issues with the transactions or if there are any disputes then it is possible to escalate the issue to the support team and have them resolved. Bitwallet provides an excellent platform for people across the globe to buy and sell their bitcoins. This service also features very dependable escrow service to help people enjoy safer transactions. Dealing with reputed bitcoin trading platforms such as Bitwallet ensures additional safety to your bitcoin transactions. Make it a habit to acquire your bitcoins only from the most trusted sources.