Bitcoin is showing long rallies and steady upward trends again. If the trend holds, Bitcoin’s price will reach $12,000 in the near future; it is already hovering around the $11,400 mark with a strong, positive market sentiment.
There are plenty of reasons to hold on to Bitcoin as one of the most valuable cryptocurrencies on the market. Before you do, however, you must make sure that you can keep your Bitcoin safe from hackers. These tips will help you get started right away.
Choose the Right Wallet
There are multiple ways to store Bitcoin, with an app-based wallet being the most common one. This type of wallet is also known as a cloud wallet. However, it is the most vulnerable. Alternative wallet types may be better if you want maximum security.
Desktop wallet or cold storage is a good example. It is a wallet that isn’t connected to any internet network, making it safer from attacks. There are also hardware wallets that usually plug into the USB port of your computer and also offer better encryption and added security.
Stick to Your Devices
As Bitcoin street value becomes higher, attempts to steal Bitcoin become more common. Hackers are also doing more things to gain access to your Bitcoin account, including placing malware and spyware in public computers and sniffing public Wi-Fi networks.
Expect this type of attack to be more common as Bitcoin street value reaches a new high. You can always check live prices online.
Secure Your Account
While it is arguably the most vulnerable, a cloud wallet is also the most convenient. Your Bitcoin is always available no matter which remote terminal you use. If you want to use cloud wallets, the next thing to do is make sure that your wallet is secured properly.
Using a strong password, activating 2-Factor Authentication (2FA), and making sure that you activate login and activity notifications are some of the things you can do to secure your wallet. Choosing a reliable wallet app or provider is also a must, and the same is true for exchange services.
Create a Separate Email
As an added security measure, use a new email address for storing Bitcoin. The last thing you want to do is use the same email address that you have been using for other online activities such as subscribing to newsletters and signing up for social media accounts.
A separate and exclusive email address adds an extra layer of protection to your cloud wallet. You can also activate 2FA for the email address. As long as you don’t share the address with anyone, you don’t have to worry about certain attack types like brute force.
These steps will minimize your attack surface and help safeguard your Bitcoin. They are not the only things you can do to secure your Bitcoin from hackers, but they cover the basics and will help you secure your valuable investment without a problem.
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