No. They'll remain valid as long as the service remains up. Tinyurl says in the first paragraph on their main page that their urls "never expire": tinyurl.com. This Bitly help page also states that their urls won't expire.
Keeping this in view, how do you shorten a URL?
Create a shortened URL
- Visit the Google URL shortener site at goo.gl.
- If you aren't signed in, click the Sign in button in the top right corner.
- Write or paste your URL in the Paste your long URL here box.
- Click Shorten URL.
Is this a virus http bit ly?
Various messages circulating via social media advise users to never click on bit.ly links because they all point to viruses, rogue applications or malicious websites. Some of the warnings suggest that the inclusion of a “bit.ly” link from a friend is an indication that the friend has been “hacked”.