With over 4,000 cryptocurrencies traded as of January 2021, Bitcoin is still considered one of the most prosperous cryptocurrencies today.
Bitcoin (BTC) is the world’s oldest and second largest cryptocurrency of US $ 70.45 billion, created by an unknown person in 2009 using the alias Satoshi Nakamoto.
In addition to data transparency and user privacy, the biggest factor behind Bitcoin’s success is the flexibility of online exchange. Bitcoin, which has more than 40 million users worldwide, is accepted by most trading sites compared to other cryptocurrencies. As a result, hackers pay less attention to security and invite them to steal the funds of Bitcoin beginners who are part of Bitcoin scams.
Bitcoin trading is supported by hundreds of Bitcoin wallets around the world. Curiously, what is a Bitcoin wallet? To trade with Bitcoin, you need a secure and secure cryptocurrency wallet to send, receive, or simply store Bitcoin. Bitcoin is vulnerable to cyber attacks because it is decentralized and does not have centralized authority to monitor assets.
For new Bitcoin users looking for a safe way to store Bitcoin, here are the 10 safest ways to store Bitcoin in the eyes of cybercriminals.
10 ways to keep your Bitcoin wallet safe
Here are 10 ways to protect your Bitcoin wallet and prevent cryptocurrencies from being hacked.
1. Choose a hardware wallet
Where do you store your Bitcoins? There are numerous different Bitcoin wallet options available for trading Bitcoins. But why do you always prefer a hardware wallet over all other options? A hardware wallet (often referred to as a cold wallet) is the safest way to store Bitcoin using an offline security layer. Provides a way.
Talking about hot wallets, they are always connected to the internet, making them more vulnerable to malicious intrusions. Hardware wallets, on the other hand, are physical devices that are connected to your computer system via a USB port and are therefore immune to virus attacks. This further enhances security from external threats.Some popularity Bitcoin wallet app Trezor Model T, Ledger Nano S, Coinkite Cold Card and more.
2. Strengthen two-factor authentication (2FA)
Two-factor authentication (also known as 2FA or two-step verification) is a very important layer of security that you can configure to keep your Bitcoin wallet secure. When you create a Bitcoin Wallet, you will be prompted to set your own password and receive an ID. By default, you only need two pieces of information to access your wallet.
Setting up 2FA in the Security section of your Bitcoin wallet adds a third credential required to successfully log in to your wallet. Each attempt to log in will generate a unique one-time passcode.
3. Encrypt your Bitcoin wallet
This is another way Cryptocurrency wallet protectionIn encrypted mode, when a hacker tries to access your Bitcoin wallet account, he sets his own password to lock Bitcoin.
4. Keep your private key offline
You can protect your wallet by taking out your private key, which is separated from the online world. You can save the key by writing it down on a piece of paper and storing it in a safe place instead of saving it in a digital gadget. Your private key is very important to you. Make sure it is as sensitive as your bank account PIN.
5. Never use pre-generated keys / seeds. This is a scam!
Are you willing to put your wallet at risk? It is known that blockchain bandits can easily guess the private key and steal money. This is a psychological game used to sell off-the-shelf or hacked paper wallets on various e-commerce platforms such as eBay and Amazon. These pre-made wallets are created by a hacker who keeps a copy of the recovery seed (usually 24 words long) and waits for you to deposit the funds.
6. Perform multi-signature
If you have been dealing with Bitcoin for quite some time and are trading with a large amount of money, we recommend that you enable the multi-signature or multi-sig feature. Multi-signature (multi-sig) is useful when multiple signers are linked to your account. This means requiring more than one private key to sign and approve a Bitcoin transaction. Multisig makes Bitcoin wallets more secure, especially in corporate use cases.
7. Use a different password for each account
Another important aspect of Bitcoin wallet security is password strength. How can I use it for my Bitcoin wallet if I don’t use a common password for my social media accounts? It’s a good idea to create a strong and clear password combination for every account you use. I will.
Bitcoin wallet passwords must be a combination of uppercase and lowercase letters, special characters, and numbers. The password you use must be kept secret and should not be shared with anyone at any cost.
8. Use good antivirus software
Antivirus / malware software is ideal for protecting your Bitcoin wallet from cryptographic threats. For this reason, we recommend that you use genuine antivirus software that protects your wallet from malicious cyberattacks and unwanted intrusions. Therefore, when trading Bitcoin, it is important to do a proper device scan before installing the wallet.
9. Digital wallet backup
Data backup allows you to access your data when there is no data left on your system (that is, in the event of a malware attack or system failure).A few Digital wallet app It has a built-in data backup function.
Based on the Bitcoin storage location, the Bitcoin Wallet menu will display the Bitcoin Wallet or Export Private Key option. If you are creating a digital backup file (preferably encrypted), you should save this exported backup to a flash drive or copy it to paper and save it in a safe place.
10. Create another wallet for everyday transactions
Currently, mobile payments are on the rise. If you have daily transactions, you can create a separate wallet for the smaller transactions you are doing during the day. In addition, you can create multiple wallets and add multiple addresses.
Let’s do it now!
“Don’t get angry, be equal”
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~ John F. Kennedy
When you lose something in the hands of others, remember the famous phrase of striving for it rather than wasting energy for anger. That also applies to Bitcoin. Don’t give hackers or scammers a chance. Rather, protect your crypto wallet with advanced Bitcoin hacking.
Therefore, if you are still confused about whether your Bitcoin wallet is safe, or if you don’t know where to store your Bitcoins, keep the above points in mind when trading with Bitcoins.
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Top 10 Ways to Keep Bitcoin Wallets Safest in 2021
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