Top 10 Bitcoin Security And Safety Tips 2018

You have opened an exchange, have a cryptocurrency wallet and have purchased your coins. It is equally important that you know how to protect you Bitcoin because it can easily be hacked or stolen.

  • Make use of a dedicated USB key to move data from your online computer to the offline computer. It is important that you use a dedicated hardware so that it minimizes any exposure to hackers or viruses. You may also use an offline computer for the offline wallet.
  • The private key should be carefully safeguarded and thus make sure that you keep the private key safe and let no one know about it. You could save it on a computer that does not have any internet connection. This will save the key from hackers. You could also store the private key like you would save a USB key on a piece of paper or use the cold wallet which is a special kind of wallet
  • Keep your PC secure making sure that your software antivirus is up to date. Also, make sure of the security options available. Just one mistake can get your computer hacked and thus you need to be careful at all times
  • Using the Linux operating system is recommended because it has a good record to resist the USB based attacks. This can be used like USB drive in order to transfer the transactions related to Bitcoin from your online to an offline computer
  • Using a hardware wallet is the best way to store the Bitcoin. The wallet makes use of the USB keys and has an onboard running computer. It has its own special operating system and this is dedicated to operating the wallet
  • Always have backups and having a wallet backup will save in case of any failures of the hardware
  • An escrow service, https://trulycoin.com is especially useful when you do not know who is on the other side of the trade. This is recommended so that both you and the other party are ensured that the transaction is safe
  • Do not reveal your identity as much as you can. These could be used to guess information about you and can be used to hack your wallet
  • The two-factor authentication gives your wallet an additional layer of protection where the second step of verification is done.
  • Never let anyone know about the cryptocurrency that you hold. There is no benefit if you brag about your wealth. You are just inviting more trouble.