Bitcoin education

Bitcoin Exchange Mt. Gox Ups Security and Educates Users

Bitcoin, Mt. Gox, Security, OTP, One-Time Password, Payments, Total Payments, Education,,

Bitcoins are everywhere, but some people still struggle to grasp what it really is, and how secure it really is.

While I’m sure that many of you know the ins and outs of Bitcoin already, especially as it’s a rapidly-growing new digital currency and method of payment, it can still be a very confusing concept to get your head around. After all, how do you ensure that people can access and use it effectively enough to get payments working properly?

Thankfully, Mt. Gox – the largest Bitcoin exchange around – has gone and set up to help dissolve the cloudy fog of confusion around the currency.

Essentially running as a tutorial on the payment method, talks about what Bitcoin is, why people use it, how people use it and why it’s such an attractive prospect. There’s also a step-by-step guide on how to get started with the shiny virtual currency.

That’s not all Mt. Gox has done, as it’s rolled out a new one-time password system that’s an effort to strengthen the security of user accounts. The OTP card allows users to set passwords for their Mt. Gox account, meaning hackers and scammers can’t get into compromised accounts.

This is quite a big deal in the Bitcoin world, especially after recent Bitcoin ‘heists’ that have happened in many other Bitcoin trading companies.

Both of these moves come as little surprise due to the escalating importance of the ‘coin. Now that firms such as Lamborghini and Virgin Galactic have expressed interest in accepting the currency, along with a plethora of smaller businesses and some online retailers, security plays a big role and people should really be educated in what exactly they’re dabbling with then it comes to making payments with digital bits of gold.

Do you reckon this is a good move for the Bitcoin space? Should people really be expanding into a currency and payment method that’s still rather volatile?

Leave a Comment

Current ye@r *