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How to Keep Your Bitcoin Safe

How to Keep Your Bitcoin Safe

This is actually one of the main basic concerns for every bitcoin users. Should you have acquired more than one bitcoin, this article will be of high interest for you. Having analyzed the huge amount of information from different sources, we are going to represent you the best ways to protect your cryptocurrency against hacking. Since bitcoin is a digital currency which cannot be touched, you are able to operate with it only by means of electronic measures. At the same time bitcoin is money and like the paper banknotes it should be kept in a wallet or a cash box. At least, you can put it into your pocket. And now let us talk about every means for keeping your btc safe one by one.

Where to store your bitcoins?

In order to manipulate with your digital money, you need to register a special btc holder, which allows you buying and selling cryptocurrency. To begin with, you are to be informed, that the btc purses can be mono-currency (work with only one definite currency) and multicurrency (support different currencies). The main goal of any btc-purse is to keep a secret key for access to a btc-address and the user’s means. The wallet can be “cold”, which is not very fast but more reliable or “hot”, which is super fast but the protection is its weak place. The hot wallets can be represented by

1.mobile wallets which is installed on tablets and phones

2.online wallet is placed on stock exchanges, special sites and other Internet sites

3.desktop purse is installed on a PC

4.paper variant is represented in the form of a QR-code; it is printed on paper and is generated on specialized services

5.A cold wallet, or a hardware one, is a kind of small device like a flash drive, where all information about the digital currency is recorded

Which wallet is the most reliable?

Talking about a mobile version, it is the most convenient, but it is also less reliable, as evidenced by disappointing statistics on their hacking. 65-85% of mobile bitcoin holders have vulnerabilities, and more than 90% have medium levels of protection.

Paper wallet is kept on paper in the form of a QR code. To get it, you don’t need to register on any website and you will have a randomly formed address and individual key. The experienced users state that this is the safest way to keep the bitcoins safe.

Online purse for crypto currency possesses the advanced features, and crypto protection is constantly improving. But, all depends on the resource you use, and which is why you are recommended to choose the platform very carefully.

The hardware btc purse is considered the most secure one, but due of its high cost it is rarely downloaded.

Desktop wallets can be “thick” and “thin”. “Thick” wallets download the whole blockchain which requires a lot of storage space on your PC. “Thin” ones appeal to the blockchain via third-party services and do not require downloading and storage.

Comparing their reliability, users prefer thick ones more, since using them you do not depend on the service, which cannot always provide the proper level of protection.

The foremost what should have been said, do not trust completely the online services for saving your coins. The all are convenient but can be hacked, or liquidated. Keeping btcs in your own offline btc-holder is somewhat more complicated, but also safer.

Always keep in mind, that complexity of code phrases and passwords used for online storage and btc-wallets should be as high as possible. To make them more complex you can use special programs that generate passwords.

Those who have a large amount of virtual currency in their virtual purse, it is best to use a computer that is not connected to the Internet. If you are not a professional PC user, you should use a paper wallet.

We have told you about different purses for crypto currency, and you can select anyone you like more among the best cryptocurrency wallets in 2018, specified by different Internet websites. Someone users prefer convenient, fast and always options while other choose slower, but reliable versions.

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