How hackers can steal your bitcoins
There is no absolute security on the Internet. The use of modern gadgets and technologies involves the transfer of personal data. The passion for trading and the sharp increase in interest in cryptocurrency encourage users to study in detail the information on how to protect themselves from bitcoin theft.
There are several levels of cryptocurrency protection. You can use all or opt for the ones that are most relevant to you.
How to secure a bitcoin wallet
To store a large number of passwords, use a special program, such as 1password or Roboform. The password manager (manager) will store your information. You will have to remember only one password to access the program itself.
When specifying secret information to restore access, do not use reliable information. Fraudsters may find out more about you than you think. Do not include the dog’s name, mother’s maiden name, or similar information. Refuse to use services, for registration in which you need to register your login from another service or password from the mail.
Use several levels of protection to access a site or exchange. The theft of bitcoins is often carried out through access to the account of their owner using a phone or e-mail. Do not use SMS authorization. It is suitable only for simple services.
Bitcoin Wallet Protection
Hardware wallets are recognized as the most reliable. Try to use different types of crypto storages, taking into account the strategy of working with bitcoins. If you do not use coins for a long time, keep them in a cold wallet. Use hot wallets to trade on the stock exchange. It’s better if there are several.
Do not leave bitcoins that you do not currently trade on the exchange account. Theft of bitcoins from an account is a very common phenomenon. In addition, your assets may be frozen or confiscated. No exchange guarantees the safety of funds.
On August 2, 2016, 119,756 bitcoins were stolen from the Bitfinex exchange by hackers. This case is not isolated, in May 2015 a vulnerability was discovered on Bitfinex and the hacker managed to withdraw more than 1,500 BTC from the “hot" wallet of the exchange
Keep a backup copy of all available keys. If you are planning a transaction for a large amount, first conduct a trial transaction. Make sure everything runs smoothly.
Restrict access of third parties to your PC on which you carry out cryptocurrency transactions. Do not connect other people’s flash drives, chargers, external hard drives.
Use reliable browsers in your work. For example, Firefox or Chrome. Install ad blockers. Never save passwords in the browser. Use an extension that will encrypt your connection in https.
Bitcoin protection is in your hands
Make sure that working with cryptocurrency is safe at every level. And, of course, do not forget about the elementary rules of protection: installing an antivirus, refusing to use dubious software, ensuring the safety of passwords and logins.
The weakest link in the security system is a person. It is the human factor that more often causes the theft of bitcoins, personal data, fiat money. It is better to spend time improving your online security than risking your finances.