Bitcoin is the most popular cryptocurrency in today’s time because it is different from fiat currencies and offers the features of decentralization functioning, anonymity, transparency, and more. Because of its popularity, cyber attackers are continuing to love it and attacking more crypto coins by whatever method possible. It doesn’t matter how much tech-savvy you are, and your coins might get attacked if you won’t store them securely. Be a member of Bitcoin Circuit and get maximum benefits of trading cryptocurrencies.
It is essential to take precautions and secure your bitcoins from hack and theft by implementing security measures on them. Let us learn how we can protect bitcoin from cyberattacks through some tips that are as follows:
Use a strong password.
Online there is always the risk of unauthorized access that can take place, but this issue can be controlled by using a strong password. It is said that many people use the same and easily identifiable passwords for all their accounts which make your accounts an easy target for fraudsters. You must never use the same password for more than one platform. It makes it easy for a hacker to estimate the password of all the platforms, and they can get access to all your accounts.
Bitcoins are the digital currencies that are stored in digital wallets, and digital wallets are more susceptible to cyberattacks. Using a random, long and strong password is a good practice that can secure your digital coins from hackers. Keep on changing your password regularly, and this way, you can provide security to your wallet and digital coins.
You can also consider using a password management system that keeps on generating complex and random passwords and provide security to your computer and wallets. To provide more security, you can use the feature of two-factor authentication, which is the best password management system.
Select the best bitcoin wallet
Putting a strong password is a good practice, but along with it, it is crucial to choose the best wallet to store your digital coins. A plethora of bitcoin wallets is available that differ in their features, storage and functionality. You can choose any wallet according to your requirements and goals. Bitcoin wallet does the work of storing and securing your bitcoins from unwanted access, and you can ensure more security by choosing the wallet that offers the best security options.
Paper, hardware, desktop, web and mobile wallets are the main types of bitcoin wallets that you can use to store your coins. Some wallets are connected to the internet while some are disconnected; it is recommended to choose the wallet that isn’t connected to the internet as that ensures security.
Never use WiFi or a public network.
To access your wallet, you must consider using a VPN. It is recommended never to use a public network or WiFi. Never access your wallet from a public computer that many users in daily use. Even if you use your personal computer or mobile device, ensure that your password is secured and the anti-virus software and malware protection are installed in your system.
Public networks are vulnerable to cyberattacks, and therefore it is the reason why it is suggested to avoid using a web wallet. A user can access the wallet from any device in a web wallet, which makes your wallet susceptible to attacks.
Use the feature of multi-signature
The best way to protect your wallet and bitcoins is by using the feature of multi-signature. By enabling the feature of multi-signature, users have access to multiple keys to process the transactions. This is somewhat similar to two-factor authentication. Even if a hacker gets access to your private key, they need to have access to other keys as well to execute any transaction or to hack your funds. This adds an additional layer of security to your wallet, which is quite effective as well. If there’s any person that you can trust, you can provide them with another set of bitcoin keys which is the best option.
Users can reduce the risk of getting their funds attacked by using these security measures to keep their bitcoins safe from fraudsters.
