Bitcoin is the most popular cryptocurrency on the market, and more and more people tend to own it. But the potential value of this cryptography has attracted the attention of not only investors. Although no one is immune from any threat, you can take some additional measures to increase the security of your wallet.
Hackers have repeatedly tried to use vulnerabilities to obtain funds in bitcoins.
Below are a few tips you can use to protect your BTC and other cryptocurrencies:
1. Avoid using web wallets
A web wallet is a type of wallet that is hosted by a service on a web platform. Even if they have easy access and convenient interface for quick trading, most of them do not have reliable security measures.
There were a lot of hacks that targeted web wallets and exploited their vulnerabilities to get to custom tools.
If you need it, for example for fast trading, choose a reliable exchange or a purse that has a good reputation, and store your coins only in small quantities to limit your losses.
2. Keep your BTC in a cold wallet
Storing your bitcoins in a cold wallet is considered the safest way to store a crypt.
Cold wallet - This is the hardware that comes with a built-in computer that works with its own special operating system. These devices can not be hacked, because they connect to the Internet only during use, for a short period of time.
When you connect a hardware wallet to an online device, you sign transactions in Bitcoins using private keys that are stored in a cold wallet. Even if your personal computer is infected with malware or a virus, you can still use the wallet to securely execute transactions without the attackers gaining access to important private keys.
3. Do not store cryptocurrency in one place
A good practice will be to save your savings in separate wallets, so as not to lose all your money in one hacker incident
For expenses or transactions, keep your coins in the same wallet, and the bulk of your bitcoin funds should be hidden in your offline wallet.
There are no restrictions on the number of addresses of the wallets that a person can own, which means that you can store your
coins in more than one place. So you can have an address specifically designed for using cryptocurrency, and another for secure storage.
4. Store private keys offline
The most important advice that all wallet owners give is to always keep their private keys offline and never share under any circumstances. To increase the security of your bitcoin wallet, move your private keys to a separate device that is not connected to the Internet. This will greatly reduce the risk of theft of your funds.
5. Use a deterministic type 2 wallet.
In simple words, these are seed-phrase wallets.
If you lose, damage or your wallet (device) is stolen, you will have the opportunity to create a new with the help of that same seed phrase, and your lost wallet will be quickly restored with all personal keys and cryptocurrency that were in the wallet.
6. Use fragmented backups
Break your keys and phrases into parts and store them in safe places.
This will create an extra level of security for your wallet, since the attacker will have to look for fragments of your keys or phrases in different places..
7. Installing Linux on online and offline computers
The safest way to transfer data online to offline is to use Usb drive Linux is an operating system that does well with any USB attacks that it does. its a good choice for transferring cryptocurrencies from online to offline devices.
These are just a few tips that you can implement to increase your security.