How do I keep my bitcoin safe?
Many people have been asking me; In addition, I often get asked how I should protect my bitcoin wallet and what security measures I should take to safeguard it. Through this guide, I will tell you everything you need to know about storing your Bitcoin safely.
Hardware wallets are the most secure way to store bitcoin. They’re physical devices that you plug into your computer or phone, giving you a more private way to access your cryptocurrency than just keeping it in an app or exchange.
When you use a hardware wallet, all of your bitcoin is stored offline, away from hackers who might try to steal it. You can also set up multiple-signature wallets so that no one person has access to all of your funds at once (this helps prevent theft).
Hardware wallets come in different shapes and sizes: some look like USB drives; others look like credit cards or flash drives. Some have screens so you can see what’s happening on the device itself; others don’t have screens at all (if this makes you nervous, there are always other options). There are even hardware wallets that work with mobile devices!
Keep private keys offline.
A cryptocurrency wallet is a digital asset for storing, sending and exchanging digital currency. For example, if you have a private key and address, you can create transactions to spend the funds associated with that address. But if someone gets your private keys, they have control over those bitcoins.
Because of this theft risk, keeping your private keys offline is important. One way to do this is with a hardware wallet—a physical device storing the information required to securely make cryptocurrency transactions offline (think Trezor or Ledger). Another option is with paper wallets—printing out all of your public-private key pair’s information on paper so that no one else can access it electronically.
Finally, there are also cold storage wallets or hot storage wallets:
Depending on how much money you’re storing in them, these terms mean keeping money completely offline or securely encrypted, so it’s not vulnerable to hacking attempts while online like most other currencies are (but don’t forget that even these types need protection!).
Use a safe internet connection.
Your safety is in your own hands. The tips above will help you stay safer online, but there’s no way to guarantee that you won’t be hacked—and if someone wants to get ahold of your bitcoin, they can do it.
But there are a few things you can do to make sure that doesn’t happen:
- Make sure your computer is secure by installing updates and running antivirus software. Use a VPN (a virtual private network) whenever possible, encrypting all traffic from its server to yours and back again before it hits the internet. This will prevent anyone from seeing what websites you’ve visited or data shared between them; if they crack into one of these exchanges, they’ll only see gibberish instead of information that could compromise security or identity theft issues down the line!
- If using public Wi-Fi hotspots like those in cafes or airports, many people gather around one access point with their devices plugged into power outlets, so they don’t run out of juice on long flights home after spending Christmas break with family.Then consider using Tor Browser instead because this browser works through multiple relays before reaching its destination without leaving any record behind on those servers either!
Antivirus software is always updated.
Antivirus software: You should always have antivirus software installed on your computer. These programs are designed to scan your computer for viruses, malware, spyware and adware. That way, you can keep them from infiltrating your device or stealing private information from it.
Keep it updated: When a new update is released, download it as soon as possible so that you can stay protected against the latest threats available online.
Scan for viruses regularly: It’s also a good idea to scan your computer regularly with an antivirus program that offers real-time protection against threats that could come through email attachments or downloaded files. This will ensure that no malicious processes are running on your computer at any given time (which could easily be picked up by another virus scanner).
An alternative approach would be configuring Windows Firewall rules, so they block incoming connections while allowing outgoing ones only.
However, this method won’t work if someone else has already hacked into their computer system via yours. It may become part of an attack where millions of computers worldwide get compromised with malware that communicates with each other via the internet connection.
Don’t click on suspicious links.
If a link has the potential to take you to a malicious website, don’t click on it. This is the most common advice when it comes to avoiding malware, and for a good reason: if a site looks suspicious or out of place, stay away. If your browser warns you that a site may be unsafe (e.g., “The connection is not secure”), stop what you’re doing and head back to Google.
- Don’t click links in emails or social media messages sent from people you don’t know—even if they claim to be someone else! A hacker could have easily impersonated their identity by creating an email address or profile that looks like theirs; once they’ve tricked you into giving them access to your computer via malware, they can steal all of your data and money from there.*
- *Don’t click links posted on forums or other public websites where people are discussing potentially sensitive topics! These links could lead straight back into one hacker’s lair.* *
Password-protect your online wallet.
You’ll want to be sure to keep your password secure. Make sure you’re not using the same password for multiple accounts, and don’t write it down anywhere. A good rule of thumb is to make your passwords as long as possible and include combinations of letters, numbers, symbols, and capitalization. It’s also a good idea to switch up your passwords every few months so that even if someone finds out what you were using previously (which is unlikely), they won’t be able to use it again.
Check Bitcoin addresses.
To keep your bitcoin safe, you should check the address before sending bitcoin and after receiving it.
- Before sending bitcoin to someone else (a friend, business or wallet), check the address. This is especially important when sending large amounts of money or sending to an exchange or a wallet that you don’t use regularly.
- After receiving funds in your wallet, check the transaction quickly. Did it come from the right source? Is it exactly 1 BTC? Are there any strange characters at the beginning or end of their address? If so, notify them immediately!
Use 2FA for online wallets.
2FA stands for two-factor authentication, a way of securing your online accounts requiring two different identification forms. For example, when you log in to your account at a website like Facebook or Twitter, you might be prompted to enter your username and password along with an additional code sent to your phone (for example).
If someone could obtain both pieces of information, they could access the account without needing other information like billing details. Two-factor authentication prevents this by requiring users to enter one part of info (username/password) plus another piece (code from their phone) before being allowed into their account.
Never give away your private key.
The most important thing to keep safe is your private key.
Your private key is like a password and PIN for bitcoin. It would help if you had it to access your bitcoin, so you should never give it away or lose it.
If someone were to get their hands on your private keys, they could send all of your bitcoins to another wallet with just one click—which would make them the owner of those bitcoins and not you!
Keep a daily wallet separate.
You can choose between keeping your bitcoin in an online or offline wallet. The best option for long-term storage is an offline wallet, but for day-to-day transactions, it’s better to use an online one.
Online wallets can be hacked, and your money can be stolen, so it’s important that you keep your bitcoins in a separate “hot” wallet only used for daily transactions and don’t store large amounts of bitcoin there.
It would help if you also tried not to keep all of your bitcoin on one exchange; instead, spread them out among multiple exchanges and wallets to protect yourself against hacks. If you choose to use more than one exchange (and we recommend this), spread out the amount of BTC, you have among different accounts on each exchange so that if one gets hacked, only part of your balance will be lost.
Back up your digital wallet
Backing up your digital wallet is essential. If you lose access to your bitcoin, no one can help you recover it. So make sure to keep a copy of your private key stored offline like a USB drive or CD-ROM.
Once you’ve backed up your wallet, ensure the backup is stored somewhere safe and secure—away from prying eyes! We recommend keeping backups on a USB drive or CD-ROM, but if you have extra space on another device (like an external hard drive or thumb drive), that would be a great place for it too!
If something happens and you need to restore using a backup file:
- Open Electrum Wallet
- Choose “Restore” from the File menu within Electrum Wallet
You can protect your bitcoin from hackers.
To keep your bitcoin safe, you should do a few key things. The first is to use a hardware wallet. A hardware wallet is a physical device that stores your keys offline and protects them from being hacked. This means you don’t have to worry about someone stealing your private key or accessing it remotely because the only way they could get into the device is if they have it in their possession.
However, even with hardware wallets, there are still ways for hackers to attack them—by installing malware onto your computer or by getting direct access to the device itself (such as if someone steals it from you). Therefore, it’s important not just for people who want high levels of security but also for everyone else.
Using strong passwords and keeping antivirus software updated will help protect against attacks on both software-based wallets and hardware wallets!
Ultimately, cryptography and encryption can be a confusing subject, and I’m not a bitcoin expert. However, I hope this post has gone some way to demonstrating the importance of security measures when dealing with your crypto-assets. When dealing with something so valuable and potentially revolutionary as cryptocurrency, it pays to take all the safety precautions you can.
Follow these tips, and you’ll be well-prepared – hopefully without ever needing them!