The Bitcoin price is volatile and that’s OK: The price can rise or fall in unpredictable ways over a short period of time due to its young economy, new nature, and sometimes non-liquid markets. That’s why Bitcoin for your short-term savings is not recommended at this point. However Bitcoin is volatile in an upward direction. No one has ever lost purchasing power by saving Bitcoin for 5 years or more (you can test this theory here), what other currency can say that?

Bitcoin payments are irreversible: Once you have sent out a payment and received a confirmation, your Bitcoin is gone forever and can't be reversed back to you. So, you need to be certain of the address to which you are sending your Bitcoin.

Bitcoin is not anonymous: Bitcoin records all transactions in a public ledger, so everyone on the blockchain can see transactions made by your address. The secret to privacy is to never associate your name with that address. So, it is important to avoid wallets that request KYC (Know Your Customer) information from you.

Bitcoin is not yet an official currency in most parts of the world. Many vendors accept it, including big stores like PicknPay in South Africa. Occasionally, vendors may not display explicit signs indicating Bitcoin acceptance, but they still accommodate such transactions, so you may have to ask. Only El Salvador has so far made it legal tender but, many countries are also friendly to it.

Unconfirmed transactions are not secure. A transaction that has been sent but not yet confirmed into a block can still be changed and the funds sent to another address. Always wait for at least one confirmation, ideally 6 if you want to be beyond certain.

Not your keys, not your Bitcoin: If you do not have control over your private keys, then you do not actually 'own' your Bitcoin. When you possess the private keys to your Bitcoin wallet, you have full control over your funds. You can make transactions at will, secure your assets as you see fit, and essentially "own" your Bitcoin in the truest sense. If you entrust your private keys to a third party, like a cryptocurrency exchange or wallet service, you are, in a way, relying on them to act in your best interest.