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Bitcoin Wallet: How to protect your Bitcoin wallet - Cryptocurrency Guide

2019-12-17 13:15:24

This time we are back in these latitudes to have the Bitcoin wallet and How to Protect your wallet.

 When we manage funds through the Bitcoin wallet we also find the detail of protecting our assets, because as well as the cash we take care of it in this case it is also important to know How to Protect your wallet, as it is necessary to maintain absolute control of our money , but that does not mean that we can be vulnerable and that is why the Bitcoin wallet offers us certain levels of security as long as it is used correctly, even so it is necessary to implement our measures, because we are securing our money.

How to protect your Bitcoin wallet from online services?

 Normally, we are careful when handling cash, this money that is in our Bitcoin wallet accounts must also be handled with caution, as there are unscrupulous online services, as some exchange houses have presented certain failures, so they are not precisely the Best option to keep in mind about How to Protect your wallet, because our goal is to store these coins safely as if it were a bank, it is advisable to use another type of Bitcoin wallet, in addition to using a two-factor authentication.

Why is it ideal to use small amounts in the Bitcoin wallet daily?

 Like cash, normally no one keeps all the money in their pocket, this works in the same way, so we must be cautious about these details with the money in our purse, because the ideal is to use small amounts daily and the rest leave it in a safe place for it the importance of knowing how to protect your purse.

 Why make a backup copy of your wallet?

 Normally almost every type of transaction leads us to make backups, they are details that are made for protection, as it prevents us against failures that are caused in the computer, but not only that, since it allows us to recover our Bitcoin wallet, even when They can steal our cell phone or computer, it must be encrypted, it is essential.

 The most logical thing is to have more than one backup copy of the wallet, since if we only have one it is likely that you may not recover most of the money in Bitcoin, since purses usually tend to use several private keys.

 How to encrypt Bitcoin wallet backups online?

 Naturally, backup copies that are saved online can be vulnerable, because only with the detail that the computer is connected to the Internet are we vulnerable to theft, since there are malicious software, and therefore here comes what is Encrypt backups, this gives you protection, so it greatly prevents you from being vulnerable to the network, this is a task that is part of knowing how to protect your wallet, because the encryption of our wallet or our smartphone, It allows us to be able to set the password for those who try to withdraw funds, since this serves as protection against theft, it would only be vulnerable to Keyloging hardware.

 Why use many secure locations for our money in the Bitcoin wallet?

 The ideal is not to depend on a single location for backups, because we will be vulnerable to suffer any unexpected event, which prevents us from entering our wallet, so it is ideal to use paper, CDs and USB sticks in order to make Backup backups, likewise, backup copies must be made on a regular basis, as this is done in order to ensure that all changes we make are effective, here is the importance of knowing how to protect your wallet.

 Why is it important not to forget the Bitcoin wallet password?

 Well, this is perhaps the simplest question we ask ourselves but it really is important, `since if it happens to us that at some point we forget the password it is likely that we will run out of funds definitively, because Bitcoin unfortunately does not count with password recovery, so the importance of backups in places where we do not suffer because we forget.

How to protect your Bitcoin wallet by placing the best password?

 Simple passwords that only contain some letters or words are honestly easy to guess, therefore it is a mistake to place something that easy, therefore, the safest passwords have mixed nuts, letters, punctuation marks, because you must have at least About 16 characters, even if they are difficult to remember, are ideal so that they are not vulnerable and in this way know how to protect your purse

Why is it ideal to use a Bitcoin wallet offline to protect savings?

 These are the so-called offine purses and they are precisely the ones that offer the greatest security for our savings, because it allows us to store our purse in a safe place, which is not connected to the internet, so this series is our best choice.

Why perform Bitcoin transactions offline?

 This is a very important option when it comes to knowing how to protect your wallet, since two computers are required for this, which share certain parts of the same wallet, to carry out this process it is necessary to disconnect the first computer which It is the one with the complete purse and it is in which we can sign all the transactions, the second computer obviously if it will be connected to the network, but it will be a computer that has a purse to perform unsigned transactions, which makes it really be A safe way to perform this type of operations, for this it is necessary to follow these indications, which makes the computer that is connected to the network simply unable to sign transactions. Therefore it cannot be used to withdraw, as long as it is committed west, the ideal is to sign offine transactions with Armory.

  •  - Create an online transaction and save it to a USB stick.
  • - Sign the transaction with the computer while it is outside the network.
  • - Avoid the signed transaction when the computer is connected to the network.

Why use physical purses?

 The physical purses are simply the point of balance between security and comfort, since these are only designed to be simply a wallet only, because in them it is not possible to make use of the software, which makes them a little safer to the vulnerabilities offered by the internet, which allows us to keep in mind that knowing how to protect your wallet is essential.


How to protect your wallet with the software up to date?

 Maintaining the latest updates regarding the Bitcoin software is a guarantee of stability because it offers us security opportunities, which keeps the wallet protected, so it is vital to install the updates on our computer or mobile device, in order to Preserve safety first.

Importance of the multiple signature to know how to protect your wallet Bitcoin?

 The Bitcoin wallet offers us the opportunity to have a multi-signature, which protects us against theft, this option is only used by technical users, it is expected that later it can be of total use, as this would allow in a certain company where They are 5 members, since 3 of them can execute the signature and withdraw the funds so that the thieves if they were to execute something like that, unfortunately, they will be compromised.

 The funds could simply be lost as long as we do not have a backup plan in the Bitcoin wallet therefore, as long as the location of the purses are not known because they simply will not be recovered, which implies having to take a good time to know How to protect your wallet.

 Finally, knowing how to protect your wallet is important, since this money is simply our savings in the Bitcoin wallet, which we can use at our whim for purchases anywhere in the world.

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