Why are crypto wallets so different from bank accounts?
Wallet addresses are public and visible on the network. If a neighbor could somehow discover what your wallet address is, he could see how much Bitcoin you own, which transactions you’ve made, and when. That makes it quite possible for you to be targeted for digital theft. But in the same way it is also possible for people to track what wallets made the most profit. You can follow in real time what transactions these wallets made and how much they gained from it. This is one of the reasons why ai crypto trading bots are getting so popular these days.
On the other hand, bank statements are designed for privacy for a reason. Bank transactions are private by default. Unless you decide to share this information with someone, nobody, with a possible exception of the government can know how much money you have in your account or which transactions you’ve made.
As long as you are going to do your Bitcoin transactions only with reputable companies and accept payments only from trustworthy sources, you don’t have to worry too much about security and privacy aspects of your Bitcoin accounts.
However, when you start using cryptocurrency in every aspect of your life and join decentralized social networks, run an E-commerce store or a casino platform, that’s when you start worrying about your Bitcoin wallet security and privacy. That’s when you start looking for solutions like CoinPayments Inc.
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