Dec 29, 2013

Top Security Rules if you operate with Bitcoins



It keeps amaze me how many risks we take nowadays in terms of use in the internet. What i know also is that few simple steps can improve significant the security of your online venture.


I heard of different ways of how someone can track your transactions or try to force your wallet security. The Cyber attacks, are not something new and i won't explain you about different attacks in this post but i will keep in mind in my future ideas. This post is about how you can improve your wallet security with simple techniques.

Let me tell you, what i have found about the latest improvements in security related to bitcoin wallets.

1. Bitcoin Wallets is not a Bank Account

You know what i mean? Yes, Bitcoin Wallets are not as secured as bank accounts are. You better think twice before you move your savings there.

The way you should use the Wallets are just to keep track of what you have or your working capital. As far as i know, when you lose your wallet, there is no way to restore it. The meaning of big lose is different for everyone, but in case you follow this simple rule and someone hacks you, no problem...the lose is not major.

2. Keep separate Wallets

There is no limit of bitcoin addresses you can have. You can open and maintain small amounts in many wallets and you will not be vulnerable in case of hack attemps. For example you can use one wallet to trade with, another one to have as a deposit/investment account and third just to be able to receive money.

Just because there is no fees for transactions, you can transfer your coins between wallets.

3. Protect your information

Above anything remember not to share your private keys with anyone. The PIN or Private Wallet Key is the equivalent of your security.

I read somewhere that there is a connection between trasaction, which can provide a signal to hackers which one address is the wallet with your savings. After a more clear research i found a scheme with information, saying that transactions history is more of random information than a something than hackers can use against you.
Bitcoin Transactions Explained

4. Use offline devices to store your data

You can use any kind of Offline Storage to save your data. It could be an external hard drive, flash, cards. From one side this will give you a better security because it won't be connected to internet and on the other side a backup data in case in lose of information.

No comments:

Post a Comment