How to protect bitcoins
21 / April / 20 Visitors: 60 ★★★★★
How to protect bitcoins: storage and security rules for storing bitcoins in a cold wallet, on a cryptocurrency exchange, principles for transferring bitcoins.
The more popular cryptocurrencies become, the more scammers pay close attention to it.
Bitcoin is the most popular, old and stable currency, so this article will discuss it. But these rules can apply to any other alt coin.
The line beyond which cryptocurrency was a game for fans has already been crossed. Therefore, you should take your savings even more seriously than with real currency.
How to protect bitcoins: storage and security rules
The basic rule of security, meanwhile, refers to the real world. It reads:
“Don't tell anyone that you have bitcoin”
This is not a joke, and not bravado. The value of the coin is so high that owning it can pose a real threat to your health and life.
Secure Bitcoin storage on computer
If you have more than 1 bitcoin, store funds in a cold wallet (which does not have a permanent connection to the network). This is the safest way to save your money.
Do not install the wallet on your home / work computer. Use NAS or a separate Linux machine. If you do not have another computer for the wallet, install a virtual system and use it.
Do not spare money for anti-virus protection and a high-quality disk.
Be sure to set up wallet backup
Save the Private key and Mnemo code on paper or removable media, and put them in a place unknown to other people.
Storing Bitcoin on the exchange
Bitcoins are stored on the exchange only in case of active trading. If you are not going to buy or sell alt coins, or play on the BTC-USDT pair, do not start bitcoins on the exchange.
If the amount exceeds 0.5 BTC (or another amount, the loss of which will become a significant loss for you), consider only the TOP-5 exchanges.
Before transferring bitcoins to the exchange, secure your wallet. First, install two-factor authentication, do not forget to write the secret key in a separate file (or on paper). Set a complex password with special characters, consisting of 10 or more characters. Do not use the password set on other accounts.
Use a browser to enter the exchange that does not have any extensions installed.
Complete a full account verification, including the provision of personal documents and, in some cases, selfies.
Bitcoin Translation Security
When sending bitcoins to another wallet, exchange, or withdraw, use the first, test payment for a small amount. Better to pay a commission twice than to lose a significant part of the money.
When copying the recipient's address into the withdrawal request, double check it with the source data. It is not necessary to check all the characters, the last 3-4 are enough. Remember the activity of the CryptoShuffler virus. Do not drive the recipient address manually! A mistake in any character will forever deprive you of funds.
When withdrawing funds, use exchangers with a history, even if their commission is higher. In this matter, the risk of losing bitcoins should be higher than the fear of losing a couple of thousand rubles.
Do not make transactions when splitting the bitcoin chain (hard forks). Refrain from transferring within a day after the forks.