Bitcoin security – is your wallet protected?

safety bitcoins

Before you start any transactions with bitcoins, it would be wise, even critical, to enhance your bitcoin security. There are at least several ways to do that.

First off, to ensure nobody but you is able access to your crypto-funds, protect your wallet with a strong password containing uppercase symbols and numbers (other special symbols will make your password even harder to hack, but such passwords are harder to remember).

Certainly, you should ideally be the one and only person to know your credentials. Yes, exactly know (if your memory is not playing you tricks) – keeping them on the web (in an e-mail draft, on Facebook etc.) and trusting them to your PC or other digital device isn’t safe at all if you possess large sums of bitcoins. Consider storing your credentials in a more tangible form – on a paper medium in a secret place, or, in the last resort, on a memory stick that is always at your hand. And remember, never ever choose the same password that you use with your e-mail account or elsewhere – your credentials should be unique.

Besides that, it would be reasonable to authenticate yourself in two steps – most BTC wallets have this option included. Basically, it means that you would need to enter an additional credential (complementary to your login and password) every time you sign in with the system. This might seem inconvenient, but it is very effective, and isn’t your fund safety in the highest consideration?

And last, but not least – do not neglect backing up your wallet. Otherwise it cannot be recovered in case of theft, digital error or trivial inadvertency.