Security has always been a key issue that has plagued finance and financial instruments for centuries. Today and other have emerged as a new type of financial instrument that has the potential to change the way we think of and use money. One of the reasons has been so popular is that ’s protocol has built in security features that make the incredibly difficult to hack into. While the internal system is secure hackers can still get unauthorized access when they get hold of private keys. Private are stored in numerous ways and has had to deal numerous security breaches of private vaults that hold onto private keys.
Utilize cold wallets
Cold wallets are a piece of hardware designed to offline. They offer greater security because you can your private keys in the device and the only way for a hacker to gain access is to physically acquire the cold . This decreases the probability of your becoming compromised.
Keep hold of your private keys
Many exchanges allow users to login easily with a username and password just like any normal account on another website. The user trades the convenience of access by giving up the private keys for their . This ease of convenience opens up the user to a greater risk of hacking since the hacker can target the user and they have another potential victim the exchange itself. To decrease this risk its best to utilize wallets that allow users to keep their keys to themselves.
Keep a backup
You could lose access to your keys when your laptop is stolen or damaged. Thus it is highly recommended to keep a back up secured on a physical hard drive that can hold your private keys.
Keep multiple wallets
Spread your bitcoins around and utilize a combination of wallets. This decrease the losses that would occur if only one is compromised. In addition anonymous users can see how much money is in any particular without having any access to the . Any address key can be used to view the total amount in the thus a with a particularly large number of bitcoins may draw attention and hackers may be more interested in gaining access to it.
Invest in insurance
Insurance has always given members peace of mind that their hard earned assets will be recouped if they suffer unforeseen losses. The insurance markets are pretty bare with the only a handful of competitors and they don’t all offer their services to everyday users. MicroAssure is available for people who want to secure there for a small fee. You can learn more about them on their website MicroAssure.com.
Published at Fri, 01 Mar 2019 04:11:49 +0000
