Ever since its inception in 2008, Bitcoin has changed the world in a myriad of ways. A world that is increasingly becoming more and more digitally linked with the internet, the influence of Bitcoin is simply set to increase in coming years. When this c was first launched more than a decade ago, people underestimated the extent of Bitcoin Evolution, but just within a few months, it showed how radically the world of transactions changed. Over the years, there have been both perks and disadvantages across the world of cyber safety due to Bitcoin.
Anonymity of Bitcoin
One of the major reasons for the popularity and sudden boom in Bitcoin users was the aspect of anonymity. While many people needed anonymity because of genuine privacy reasons, many criminals used Bitcoin to cover their tracks. The anonymity that Bitcoin provides makes online money laundering easy. This misuse has been one of the negative points of this revolutionary technology.
Protection Against Keylogger Activity
The identities of Bitcoin users are relatively safe, and their online currencies are kept in different non-virtual wallets, this makes it hard for hackers to attack their accounts. But to overcome the barriers created by decentralized blockchains, the hackers try to invade devices used by Bitcoin users via key logger software. Therefore Bitcoin users need to take necessary steps and safeguard their accounts and devices against Keylogger activities.
Cybersecurity and Bitcoin
Bitcoin has indeed become a legitimate and widely used digital currency that is used all over the world. Keeping its impact and extend in mind it is important for the international community to make legal provisions and guidelines about its fare use and include Bitcoin within the ambit of information technology and cybersecurity. People also need to be educated about this cryptocurrency to increase their digital literacy levels with regard to this phenomenon.