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BLOCKCHAIN BITCOIN WALLET REVIEW AND ANALYSIS
By C.M. - May 16, 2017647
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The process of synchronizing it with the wallet involves creating a pin and scanning a code at the setting section.
With the rise of bitcoin, we see that Blockchain is among the most used and recommended bitcoin platforms.
Therefore, the company ought to take measures to ensure that the security of their systems is top-notch and also, the reputation grows with time to attract more clientele.
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The platform’s user base is broken up into two types: there are those who use the website to transact, and there are those who prefer to use mobile apps to transact.
Whichever the case, it depends on whether or not the platform is convenient to the user.
If you’ve created an account on the platform, your first step should be to secure your account by all available means.Blockchain has taken quite some measures to ensure that users’ funds are protected.
Apart from providing the user with a variety of ways to protect their coins, it is up to them to ensure they make good use of the available methods.
Regardless, some users will avoid taking the necessary steps to beef up the security of their account.
In a world where cybercrime is rampant and attackers are ready to use any possible means to take control of important documents and funds, it is crucial that the security of your system is solid.
In this case, the security measure taken by Blockchain must be enhanced by the account holder. So, there are three levels of security.
Level one is the most basic, and it is meant to prevent you from losing access to your funds.
At this level, the first thing is to verify your email which will be used in the login process.
Second, get a backup phrase in case you need to recover your bitcoins and lastly, create a password hint that you can remember in case you forget your password and need to access your account.
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The backup phrase comprises of twelve letters, which is displayed on the screen. You can either write the words down, take a picture or print it.
Because it is essential in accessing your funds in the event of suspicious activities that might make your coins inaccessible.
To confirm this phrase, you will then enter a few words in the next page where you are to prove the phrase according to the numbers displayed
The second level of security involves the prevention of non-authorized logins to your wallet.
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With the rise of bitcoin, we see that Blockchain is among the most used and recommended bitcoin platforms.
In this case, one has to enter their mobile number, which will be used to send a verification code in the event any suspicious activities are ongoing.
So if someone is trying to access your funds and they come to this step, the mission will fail. Also, the second part of this is the two-factor authentication (2FA) is solely meant to verify the authenticity of the user by providing details that only they have in their possession.
The third level of security involves hardening your wallet. According to the site, they claim this process is to prevent all the IP addresses that are from Tor network from accessing your wallet.
If one is a Blockchain user, all these can be found on the top-left part of the web page. It is the third icon titled “Security Center.” It is highly recommended that these not to be ignored irrespective of the user’s balance or their work on the internet.
When one registers on the platform, they are assigned a unique wallet ID that comprises of both numbers and letters, which are separated by a hyphen after a specific number of characters.
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So, this is more of like the username that you will use when you are logging into the platform.
Because one cannot use their email address, name or phone number to access their coins apart from the wallet ID.
After they enter the wallet ID, it is when they enter the password.
When logging into your account, you can also just search for the login link and enter the password, then wait for a confirmation link.
With this in mind, it makes it virtually impossible for someone to guess the email you are using for your bitcoin wallet because there is no evidence whatsoever.
Now when one is using the mobile app, the process of synchronizing information with the wallet involves creating a pin and scanning a code at the setting section.
Without doing this, you cannot access your account using your phone. Therefore all due steps must follow.
Upon following the above processes, it will be easier to access your wallet from your phone which is much more convenient than logging into the site using a desktop or laptop since it is just a matter of putting in your pin.
When one logs into their account using a desktop, they will have a confirmation link sent to their email.
And if you have no access to the email, then it is not possible to access the wallet. Therefore, this can be considered an extra layer of security in the event someone has access to your password for one reason or another.
It is never advisable for one to use the same password for email and other accounts, as it makes it easy for one to access your accounts and possibly even change emails in the event they are after you.
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Now there are many wallets to use, but the ultimate choice will rest in the hands of individuals based on the preferences and referrals they get from friends and colleagues.
It is however very crucial to carry out your own research to establish what best suits your needs.
Some wallets will offer you a convenient way to buy bitcoins when you need them, whereas others do not have that option.
Sources:https://darkwebnews.com/bitcoin/bitcoin-wallet-review-analysis/
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