Hello all crypto fans,
within last few days I saw a lot of tweets, forum posts and news about coins being stolen or lost. And I thought, are the people still not cautious enough? Here, on Steemit, on Bitcointalk or many other online resources, tons of guides and articles are published. A lot of information, really, why people don't read it? And why people don't use main principles of device's security?
I know there is nothing new, but one more time spend a couple of your precious minutes for reading this, please! If you want to avoid the stress, sleepless nights and losses of your hard earned coins, tokens, money or whatever.
*Most of the points may be applied for tablet or smartphone as well.
Ok, we consider that device is now secure enough. But to be honest, it's not. Still coins could be stollen. Why? Firstly, if your coins are stored at online wallet. So it can be hacked, even if it's not your fault and probably no one is going to restore your coins. Even if bitcoins are kept at desktop wallet, it's not that safe enough. So what to do you may ask. Well, I bet most of you know where and how to keep your cryptocurrency safe, but there is part of people who don't so share this with them. Maybe it is going to safe few coins for someone.
There are few types of wallets where you can store and hold your coins. Each of it has its own pros and cons. Some are secure enough if used properly, some are less secure even if was used by most demanding users.
This type of wallet is very convenient and easy to use. Furthermore, you can access it whenever and anywhere you want. However, if site was hacked, say goodbye to your coins. Probably you're not going to see them anymore. If you decided to use hot wallet, then use few simple steps to make it as much secure as possible:
Desktop wallets are more secure, but still it can be broken. To keep it secure, you must keep your pc or mobile phone secure. So go up and read main principles of device security again!
Well, that is secure. Very! Except if you lose the paper or force de major happens. So, make backups, keep few sheets of paper in different locations which are accessible or known for you only. However, there is no comfort at all when doing transactions. Sending, receiving, trading become pain in the a**. It's secure, but okay for holding.
IMO the best method to store bitcoins or other cryptocurrency (it depends on support of the hardware wallet). It's convenient, easy to use, to carry on anywhere you go. Sending or receiving bitcoins is easy and fast. Most noteworthy, even if device is infected, your private keys stored inside cannot be accessed by any malware. Keep in mind, that all transactions must be confirmed with built-in buttons. After device is disconnected from computer, it goes offline instantly and there are no ways it can be reached. Couple more tips of using hardware wallet below.
More in depth details about hardware wallets in my page can be found under this link - How to keep your cryptocurrency safe.
While I am not familiar with it, do not want to comment more about this. I'm sure there are many great write ups here (Steemit) about that.
I hope this article (or guide maybe) will help even for one cryptocurrency user. Even few dollars saved are important. We spend a lot of time and effort reaching our goals and it is very rancour when we lose what we achieved. Few simple actions can safe us from that. I hope this was helpful. Good luck!
P.S. Sorry for the mistakes, or if some of the sentences are confusing. It's improving!
Disclaimer:
There are affiliate links included. I know that some of you hates it, but in my opinion, anyone here who puts its effort of creating content, sharing experience and giving advices, deserves even a small rights in getting some additional earnings. So I included non affiliate links also.
