The internet is a public place in case you don’t it is a world of a shared resource. With the advent of bitcoin wallet means your cash is in the midst of the good bad and ugly. Everything is shared especially our everyday platforms such as Facebook, Twitter, Instagram, Reddit and many more.
With just your data and a connecting device, you can assess the internet and sign up to a lot of these platform for free. I won’t blame them much for offering you stuffs for free in return for data. That’s why it is up to you to form strategies to secure your bitcoin wallet from the millions of users.
Securing Bitcoin wallet is very important because unlike your bank account not one is responsible for your loss. Bitcoin is own by no one and controlled by no one, taxable by no government. Although Bitcoin is extremely secure it might not be if you become a target. There is no telling what a malicious intent person can do. Piecing information and getting other login details would eventually grant access to your bitcoin wallet.
A bitcoin wallet is much like a real wallet. There is nothing is as important as having a strategy for securing it.
Tips To Secure Your Bitcoin Wallet
- Never share your password with anyone.
- Use a password manager so you aren’t reusing passwords.
- Do not share your Bitcoin backup passphrase (recovery seed) with a third party or on any other platform.
- Never share your Bitcoin private key with anyone.
- Do not reuse Bitcoin addresses (most modern wallets don’t do this anymore).
- Don’t post your email address, home address or phone number on social media.
- Always keep your computer anti-virus up to date so you don’t download malware.
- Always backup your wallet and do it periodically.
- Use Two Factor Authentication (2FA) everywhere.
- Just like how you want to avoid fraud online, you don’t want to make yourself an easy target online to scammers and hackers.
So that’s it, these tips can be really useful to secure your Bitcoin wallet.