Top Bitcoin Security Tips

Cryptocurrency has revolutionized how people do business. It is now possible to make payments for any transaction using virtual currency within just some seconds. This is done without the need of an intermediary as is the case with cards. Of all cryptocurrencies, Bitcoin is the most popular one. It is a very safe platform to store your money, though you have to take all the necessary precautions. Losing your wallet key, for example, means that you will not be able to access your digital money. You should also ensure that the wallet key doesn’t fall into the wrong hands. Below are some of the security measures that you should take to protect your digital money.

Use an Exchange Service That Is Reliable

It is highly recommended that you don’t use web wallets as they are susceptible to hacking. However, if you have to use one, make sure that you pick a very reliable exchange service that is trustable. After completion of the transaction, transfer all your coins to your wallet as soon as possible. Also, ensure that you do all the transactions through a secure Internet connection.

Restrict Open Access to Your Wallet

You should never allow open access to any of your wallets, especially for people who you can’t trust. This is because anyone who can access your wallet can transfer your digital money to a different wallet and you will never be able to trace the money back. You can use sub-wallets to help you deal with this problem.

Store Your Wallet Key Offline

It is imperative that you store your wallet keys offline, preferably on a reliable external device. This will ensure that hackers and malware cannot gain access to it so that your money remains safe in your wallet. The storage device should be dedicated to the storage of the keys only. If you have more than one wallet, keep the keys in different offline locations for additional security.

Create Backups

If by any chance your computer gets damaged, you will lose your wallet. This makes it very important to have a backup of the wallet in a different secure location. You can have several backups to be sure that you can always access your Bitcoins.

Use Linux

The Linux operating system is a great choice, especially when you need to transfer data between different computers using a USB drive. This is because Linux is excellent at fighting threats related to USB.…