Although Bit coins and other crypto currencies are not easy to steal in principle. Its value and the expertise of hackers, to find any security flaw, determines that the appropriate security measures must be adopted for the protection of any type of investment in crypto currencies.
To protect Bitcoin it is convenient to adopt the following security measures:
Manage your own keys. Leave the crypto currencies as little time as possible in the hands of third parties and adopt measures regarding phishing.
Update software, antivirus
It is recommended to encrypt the private keys, for example, of the purses, with passwords or pins. Also, to make it difficult to decipher them, it is convenient to use complex passwords to encrypt.
Using password managers can be interesting, but you need to have them somewhere else in case you lose access to the manager.
If you decide to use online services, it is advisable to use double authentication or double security . This means that a second unique key is generated that is provided at the time of accessing the account through an alternative route such as email, sms or Google authenticator.
In case of using offline wallets, the best advice is to make backup copies and store them in different places. If any of them allows it, it is convenient to encrypt them.
Also, if purses are used, it is advisable to confirm if they are HD or not. It is convenient to switch to HD wallets, and, in the meantime, make security copies in each transaction.
Tricks to improve the security of cryptocurrencies
There is never little security when it comes to your money.
- It may be convenient to use multiform addresses. It is understood as such those in which instead of simply associating a private key to each address, several private keys are associated to the same address. In this last case, it is necessary to use all the private keys to make a transaction.
- Store the keys outside the network, either through paper purses, which are nothing more than the printing of the keys on paper, and must be stored in places with guaranteed security.
- It is also possible to store keys in hardware wallets or other hardware that remains disconnected from the network.
- It is also advisable to think about how to get the keys to the heirs in case of death, so that the bitcoins are not lost. A possible option offered by some cryptocurrencies are blockchain intelligent contracts.
- Of course, the number of measures to be adopted will be in proportion to the amount of bitcoins to be stored.
- If you decide to move a significant amount. It is best to do it in small quantities from different directions.
- Another important tip that if you leave your cryptocurrencies in the Exchanges, you should use several, to minimize losses in criptomononedas in case of attack.
- If you save the information and key data in the cloud, proceed to secure it with strong encryption.
- Avoid or reduce the use of mobile wallets.
- Remember to use different purses depending on the use that you are going to give to the cryptocurrencies. For example, separate the cryptocurrencies that you use in a different purse from those that you do not use.
- Consider the acquisition of hardware purses, even though they are expensive.
- Do not talk about your cryptocurrencies. In any case, limit the information you share about them.
- Do not give details when you perform transactions with cryptocurrencies that may come to identify you.
- Use a versatile Bitcoin client, which hides the IP address, and allows you to change the IP address in each transaction.
- Use escrow services or Scrow Services, if you do not know the counterparty.
- Eliminate virtual wallets that you do not use.
- Use various emails for different operations and / or Exchanges.
- Do not use names, pseudonyms or passwords in your accounts that you use in your emails.
If in spite of everything your bitcoins disappear, you can always track them and even contact the police. Remember that in many of these security measures are combinable, so it is possible to adopt various security tips to protect your cryptocurrencies, at the same time.