There will be a requirement for a cryptocurrency wallet if you desire to receive, send, or just store Bitcoin. At the same time, you also need to ensure the safety of this Bitcoin wallet. Your Bitcoin wallet may attract several swindlers and scammers if you transact with a huge sum of money.
Amid the insufficient centralized authority controlling the asset, Bitcoin holders must take complete accountability of securing and protecting their wallet. If you are keen to obtain, send, or store Bitcoin, you must secure a Bitcoin wallet that will be suitable for your device or operating system. A wallet can store a private key, also known as a secure digital code familiar only to the owner.
Tips to keep your Bitcoin wallet safe
- Opt for secure WiFi connection:
It is ideal not to link to your online wallet, exchange account, or any vital security point through public WiFi. Even if you are at a supposedly secure location, you must ensure your WiFi point uses powerful encryption such as WPA-2 protocol.
- Always save your private key offline:
The best way of protecting your Bitcoin wallet is by taking your private key off the grid. You must keep it in the “real world” for optimum safety. You can ideally jot down your private key on a piece of paper instead of saving it on some electronic device. Additionally, you must also keep it at a dry place from where it can be protected from heat and direct sun rays.
- Make use of some latest anti-virus software:
It is prudent to ensure that your computer or laptop has the latest and trustworthy anti-virus software installed. It is worth noticing that Windows tend to be exposed to a vast type of malware attack as almost all the operating systems have their share of malevolent programs. And, recently, many cyber-attacks used malware to enter and tamper with your device. It is significant to carry out a significant device scan prior to installing your wallet. Keep your software updated in a time-bound manner.
- Use a strong password:
Make sure that when you use an online wallet, select a strong password. Never use your contact number, birthday dates, name, or favorite films. Opt for an alphanumeric blend that will make great sense to you.
Quick tips to store Bitcoins and other cryptocurrencies
- Desktop wallets:
These are those wallets that are not linked to the internet. They are popularly known as cold storage methods. Desktop wallets can be accessed through your personal computer with the help of personal security keys. Therefore, the exposure of your security keys online can be significantly brought down.
- Hardware wallets:
They are far more secure than desktop wallets. These wallets are types of external tools such a USB sticks that you may carry along anywhere. The biggest advantage with these wallets is that they offer you total anonymity with which you may transact.
- Paper wallet:
It is also a safe way of storing Bitcoin. You can create a paper wallet online or offline for higher security. They can be stored conveniently as they do not require considerable space. They also offer strong anonymity.
- Physical coins:
The latest services permit Bitcoin investors to purchase physical Bitcoins. The coin that you will buy will include a tamper-proof sticker that will cover a pre-decided amount. When you buy them, you are required to pay a little premium over the value Bitcoin that you are purchasing.
One can ensure crypto wallet security and safety by following all these measures. Bitcoins Circuit provides overall information about Bitcoin and the latest updates related to the Crypto world. Visit https://bitcoinscircuit.com/ to know more further.
Therefore, we can conclude here that the art of keeping your Bitcoin wallet safe is a significant skill that you must learn. And, the sooner you learn it, the better it will be for you.