In this post, you will learn everything about Bitcoin safety tips. How do I know I won’t lose my money? Could a hacker steal my bitcoins? How do I know I’m safe? These are some of the questions that we will clarify in this article.
You may also be interested:
- Bitcoin Risks: Why is an investment in Bitcoins risky?
- Benefits of Bitcoin and other Cryptocurrencies
Bitcoin Safety Tips
This is a very important question that practically everyone is asking, is investing in Bitcoin safe? For people who are not used to the digital world, when we talk about money that is not tangible, that is not real, that is not physical, that is, virtual money, those doubts come to mind.
Will it work? How do I know if I’m not going to lose my money, could it be stolen by a hacker if my computer has a virus? How does it spread? These are some of the many questions that come to people’s minds.
Similar things happen when we talk about security, we must keep in mind that if there is money involved, there are hackers trying to steal and we must take every possible precaution.
There are two main points where hackers can try to access and steal your money.
First, they invade the Internet servers and intercept the transactions being made, but thanks to Bitcoin’s protocol, the Blockchain, there are no centralized servers.
In addition, the protocol has one of the most secure cryptography in the world.
All transactions that are made in the Blockchain protocol are validated on multiple servers throughout the network, all over the world.
The number of validations before a transaction is approved is always variable, making it virtually impossible for a hacker to succeed.
The second point to consider is access to your computer. It is usually the weakest because if a hacker has hacked your computer and accesses your environment, he can make transfers with your password and much more. Also, he can steal from your Bitcoin wallet, so the risk is not in the fact that its Bitcoin or traditional banks, but in your computer, whether it’s safe or not.
So with Bitcoin, your computer is like an extension of your wallet and there’s nothing to share passwords and other security information.
Avoid clicking on email postings made on your computer, especially when it comes to money, whether it’s virtual or real, always use a good anti-virus to get away from both computers.
An up-to-date antivirus, and other options listed below, will help you better deal with the security of your accounts.
There are three basic types of wallets, online wallets, local software wallets, and physical wallets which are hardware wallets.
Online wallets are the most widely used and work like home banking.
There are several wallet providers and most of them are free and only charge small fees to carry out payment transactions in it, store our currencies and make payments.
It is always advisable to open more than one wallet and distribute your money among them because if for some reason it is not available which is very rare, you will have other options if you need to make a quick transaction.
The benefit of these wallets being online is that if your computer crashes and you lose it, your money will not be in trouble.
Software wallets are wallets that allow you to store Bitcoins on your devices such as tablets or mobile phones.
Read also: Bitcoin Quote: What’s the price of Bitcoin today?
The advantage of these wallets is that the money always stays with you.
To use these wallets, you must have additional security on your devices, and they also offer a backup system that allows you to get all your money back if your device stops working.
Finally, hardware wallets are devices like the pen drive where you can store your virtual money and, like software wallets, they have a backup system in case of theft or defect in the device.
The most recommended for beginners are the online wallets due to their ease of opening and handling.