Storing money online has always been risky. Many times it breaks the security and transfering money with online wallets has been suffering because of it. Therefore, there is not 100% trustworthy service to secure your money online & in wallets. But, nowadays it is possible because of block-chain technology and if you want to keep your money secure in bitcoin wallets.
Here, we can provide you some tips so you can secure your online money.
Use minimum amount:
A bitcoin wallet is one type of pocket wallet, but it is available on mobile, computer or server not in your pocket. So, always keep only a minimum amount of bitcoins in your bitcoin wallets for regular usage and rest bitcoins keep in a secure place.
Need to take a regular backup of your wallet:
If you have taken a regular backup of your wallet, it is good for you, and it will protect you against computer failures, virus and many other threats. If your wallet is encrypted you can easily recover it when you lose your phone or computer.
Take a Backup of the whole wallet:
Bitcoin wallet has hidden the private key. So with the help of this key, you can recover it and take a backup of the private keys for your visible Bitcoin address.
Encryption of online wallets:
If you stored backup online there is a risk so it should be required to protect it. When backup storage online it should be made encrypted every time and secure from the thieves.
Using numerous secure locations:
Using one location for storing backup is not good for security. So, you can store your backup on multiple locations with reducing of the bad event and also theft risk.
Encrypting bitcoin wallet:
Encrypting wallets is the third important tips for your bitcoin wallet. Encrypting wallets and enabling your devices to send and get messages while doing any Encrypting. This is the biggest help against theft.
Always remember your password:
You must be required to remember your password, otherwise you will lose all your funds and also, password recovery options with bitcoins are limited, so the note is somewhere, where you can easily access it, write down somewhere, where you can access at any time but make sure it’s to be kept at a safe place.
Using a strong password:
Do not use a simple password, as it might be a weak password. The password must include letter, numbers, special characters and at least 16 characters to make it strong and reduce the risk of hackers. Therefore, always remember a strong password, or note down it.
Storing wallet offline:
Storing wallet offline is also known as a cold storage. The storing wallet offline is the most secure way and you want to store wallet at a 3rd place which is not connected to a network. So, use an offline wallet with encryption and proper backups.
Updated Bitcoin software:
Always use latest updated bitcoin software, this will give you steadiness and all the security fixes. So it is required to update your wallet and keep it safe. Also, always remember to update the bitcoin software on your computer and mobile to give a protected and safer environment.
Using Multi Signature protection:
Bitcoin allows multi-signature feature for a security so use a multi-signature protection feature and make your system more secure. A few wallets provide multi-signature protection and that allows a user to keep fund secure without compromising.
Last but not the least; Testament:
Give your passwords or location of your wallet to someone from your family or trusted resource. Because once you are gone, your bitcoins can be lost forever. And there is a no chance of recovering it.
Follow these 7 tips, it will not only provide security to your wallet, but also makes you tension free and this can make an enormous change.