While you are fond of sharing details about your daily life online through various social media platforms, your Bitcoin should be exempted. Particularly now that its value is gradually increasing, it means attracting cyberattacks. But sometimes, no matter how hard you try to keep your Bitcoin safe, threats are likely to occur. You might be doing it incorrectly! Here are some recommended ways to use Bitcoin safely.
1. Invest in a Bitcoin storage
Cold wallet or storage is deemed one of the safest methods for storing cryptocurrency as it is not available online. You have limitless options, including desktop wallet, hardware wallet, and paper wallet. There are also physical coins, although you may need to shell out quite a money.
2. Use a strong set of passwords
Especially if you are using an online wallet, make sure your password is composed of strong characters. As possible, do not use generic passwords such as your name, contact number, or birthday. Instead, opt for an alphanumeric combination so it will be too tough to crack or remember by criminals. It is usually a combination of lowercase and uppercase symbols, numbers, etc. Some wallets provide 2-factor authentication.
3. Always use a trusted internet source
While it is tempting to ask the passcode of a local coffee shop for free Wi-Fi, you should refrain from doing so, especially when it is your Bitcoin account that’s at risk. Use only trusted or home networks. This way, you have an assurance that your important details are intact and away from the prying eyes.
4. Never click on suspicious or unidentified links
Pay close attention to your online activity. Do not click on a certain link when in doubt. Better be safe than sorry! That’s because online scammers copy the whole details of a website and use nearly the same URL addresses. So, you should also verify the website. For more information you can visit here click-moneysystem.com
5. Do not share your private keys
Above anything, protect your privacy. And your private key is one of them. Keep it offline and never save it on any electronic device. Write it down on a piece of paper and keep it in a dry place.
6. Have the latest, good antivirus software
All computer systems are vulnerable to all forms of malware and malicious programs. Therefore, ensure you are installing trustworthy and up to date antivirus software to promote safe online activity. It is important to scan the device first before installing the wallet because most cyberattacks make use of malware and viruses to access your device and fiddle it.
7. Use separate wallets for your Bitcoin
Perhaps an important safety reminder that most Bitcoin users fail to notice. Bitcoin allows you to create as many addresses or wallets as you want. So, to increase the safety of your investment, keep a separate wallet for daily transactions. You can have an independent wallet for savings, another one for spending cash, another one for getting payments, and so forth.
8. Back up
Unexpected things happen the least we expect it. You surely don’t want to wake up the next morning only to find out your device malfunctions or someone stole it. That’s a massive disaster. Backing up your wallet is recommended so you can restore access to it. You can choose a safe or different location.
9. Keep your investment private
It’s good to share your accomplishment with other people for a bit of inspiration. But when it comes to investments such as Bitcoin, you may want to keep things confidential and let your investment walk the talk. Cybercriminals are always in search of possible ways for cryptocurrency attacks. Websites such as online forums and even your social media account are not a safe place.