Bitcoin Security Tips: Things You Need to Know

Bitcoin Security Tips: See What You Need to Know

Bitcoin Safety Tips for Beginners — You've purchased, been paid, or simply received bitcoins and now want to keep them as secure as possible.

Here Are Our Top Ten Bitcoin Security Tips To Follow.

1. Store private keys offline

It goes without saying that your private key is your absolute crypto and should not be known by anyone you consider untrustworthy.

To keep bitcoins safe, you can store them in cold storage, such as a computer without an Internet connection.

This will help you not to fall prey to malware or hacker attacks. In addition, private keys can be safely stored on a piece of paper or special hardware (also a cool wallet), similar to a USB key.

2. Use Dedicated Hardware

You can use a dedicated USB key to move data from your computer online to offline. This is to minimize your exposure to potential viruses or hackers.

Some people go further and dedicate an entire offline computer to use as an offline wallet.

3. Make Use of Hardware Wallet

You may already know this, but using a hardware wallet is perhaps the safest way to store your Bitcoin.

This wallet makes effective use of an encrypted USB key that comes with an on-board computer running on its own special operating system dedicated to operating a Bitcoin wallet.

As hardware wallets Most popular Bitcoin are:

Quick registration

Securely Protect Your Cryptocurrencies for Only 59 USD

95%
PUNCTUATION
ABSTRACT

The Ledger Nano S hardware cryptocurrency wallet offers high-level security through a secure chip and proprietary operating system.

It gives investors control over their private keys and is backed by the biggest name in the industry.

Investors can store more than 1.100 cryptocurrencies and tokens in Ledger Nano S, with 23 cryptocurrencies supported directly by Ledger and the rest supported by installed third-party applications.

INFO
POSITIVE
  • An affordable cool wallet
  • Private keys never leave the device
  • Supports over 1.100 coins and tokens
NEGATIVE
  • Limited storage space for crypto applications
  • The screen is small and not touchscreen
Quick registration

Trezor Model One is the most secure hardware wallet choice for Only 53 EUR

94%
PUNCTUATION
ABSTRACT

Trezor is one of the oldest cryptocurrency hardware wallets on the market. First launched in 2014, the Trezor Model T is the company's premium offering, designed to serve HODLers and active traders.

Meanwhile, a built-in touchscreen gives the Model T a premium look and allows you to enter the PIN and password on the device itself, which is very convenient.

POSITIVE
  • open code
  • Color touchscreen
  • Easy to set up and use
  • Supports over 1600 coins
NEGATIVE
  • Mobile support for Android only
  • Requires additional wallets for specific currencies

4. Protect your PC

Always be aware that your antivirus software is up to date, as well as your other security options.

It only takes one security vulnerability to get your computer hacked — you must remain vigilant at all times, avoid malicious websites, and learn as much as you can about cybersecurity.

5. Use Linux

5. Use Linux

It may sound like hackers in a bad movie would say, but it's true: using the Linux operating system is a safe choice.

Linux has the best record of resisting USB-based attacks, so if you can, use it to transfer Bitcoin-related transactions from online to offline computers.

6. Make Backups

There is a saying: “don't put all your eggs in one basket”. This applies to keeping your Bitcoin safe and sound too.

Kept in a safe place, a backup of your wallet cryptocurrency can save you from hardware failures, unforeseen accidents and human errors.

It will also allow you to restore your wallet in case your PC or phone is stolen.

7. Protect your identity

Violent attacks against bitcoin holders at gunpoint are increasing, so you would be smart to keep a low profile on your investment activities and holdings.

In one of the recent cases, a 38-year-old Dutchman was tortured with a drill in an attempt to steal his cryptocurrencies.

Therefore, privacy and anonymity are good not only for your cryptocurrency holdings, but also for your safety and well-being.

Do not disclose any personal data that may be used to access your personal information — PINs, phone numbers, email addresses, passwords, etc.

Not even your mother's maiden name or your first pet's name, as these are common back-up questions.

Avoid suspicious transactions that involve exchanging personal data — if you don't have a good feeling about a business, don't be afraid to unplug.

8. Use an escrow service

When you need to buy or sell something and you're not sure who's on the other side, you can use “warranty service”.

In these cases, the person who needs to make the payment sends their bitcoins to the escrow service while waiting to receive the item they are purchasing.

Meanwhile, the seller knows his money is safe with warranty service and ships the agreed item. Upon receiving the goods, the buyer advises the custodian service to finalize payment.

In this way, both buyer and seller remain safe.

9. Use Two-Factor Authentication (2FA)

Use two-factor authentication (2FA)

An additional layer of security is required for cryptographic security. While it can be tiring going through the authentication process all the time, it's much better than losing your coins.

2FA includes a second layer of protection in which, after entering passwords or transaction details, the system sends a verification code to your trusted device, so it becomes very difficult for hackers to intervene and steal your funds.

10. Use MultiSig

This is an additional step designed primarily for business users, but anyone can use it.

To complete the transaction, multiple people need to sign to allow it (which created the multi-signature name, ie MultiSig) and the potential for misuse of funds is minimized.

Here are several wallets with MultiSig support:

  • Armory
  • Electrum
  • Coinbase
  • GreenAddress
  • Xapo

Here are four bonus tips on how to keep your Bitcoin (or any other) reserves safe. criptomoeda):

1. Keep your mouth shut about your digital wealth.

This means not bragging about how much you made in your last deal on Facebook crypto trading groups (at least not with your real name), nor telling people in bars after a few drinks that you bought Bitcoin “years ago”, and photos from your Bitcoin wallet to show off your wealth.

There are no advantages to bragging about your cryptocurrency holdings, only disadvantages.

Otherwise, you could risk violent attempts to steal your wealth and ruin your health or even your life.

2. You must not post any of your wallet addresses online.

When you do this, criminals can see how much criptomoeda you own and make you a target.

If you need to post a wallet address online for any reason, make sure you don't keep a large amount of money in it and only use it for a single purpose (such as collecting donations or receiving small payments).

3. Remember that transactions from your wallets to other wallets of yours can be publicly viewed (on most blockchains).

So if you're moving large amounts of wallets tied to your name, consider using an anonymous cryptocurrency or coin scrambler to make transactions untraceable for criminals.

Ideally, however, you don't want to post any wallet addresses publicly online (although this isn't always possible or convenient).

4. If you consider yourself a target, it might be wise to have a decoy wallet on hand that contains a comparatively small amount of your overall cryptowealth.

So, if it turns out to be an armed robbery, you can use the funds in that wallet to send it to the attackers, in the hope that they will take the money and leave.

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