Bitcoin is undoubtedly one of the most valuable digital assets, which is why hackers go to great lengths to get their hands on your cryptocurrency. A clear example occurred when cybercriminals took over several phone numbers belonging to Bitcoin owners and accessed their savings, stealing thousands of dollars in the digital currency. That's why here at NeoTeo we're going to share the best methods to keep your Bitcoins safe. These tips will help you protect your digital money, although we recommend you be very careful to avoid falling victim to cybercriminals.
Use strong passwords
Since Bitcoin is a digital asset, the folder where your cryptocurrency is stored can be breached by hackers. That's why we recommend using very strong passwords. Strong passwords contain letters, numbers, and symbols, and should be at least 16 characters long. You can use this program to check your password's strength and this tutorial on how to make it more secure.
Encrypt your wallets
Wallets are highly coveted by cybercriminals. That's why we recommend encrypting that folder. This encryption task is quite complicated and you'll need to research it online to succeed. But if you're not very knowledgeable about encrypting Bitcoin directories, choose one of the secure Bitcoin folders.
Back up your wallets
Your Bitcoin wallet is like your bank account or your mattress. And of course, your account and mattress are safe places until something goes wrong. If your wallet is properly backed up, you can recover your data after any mishap (such as fake systems). At this point we recommend that you back up your entire wallet (private keys, etc.), because backing up all your data will help you recover funds lost due to any digital failure.
We also recommend that you encrypt the backup with a good encryption platform such as: Backup wallet.dat and BIP 32 wallet.
Use multiple signatures
The last tip we want to give you is the use of multiple digital signatures, which allows several people to own a single address or a single wallet, unlike individual wallets. So when you need to make a Bitcoin transaction, you'll require the full signature to start the operation. This task maximizes the security of your wallet.
We want to remind you that multi-signature is not compatible with all Bitcoin wallets. Although support is growing exponentially. If your wallet doesn't offer this service, options include: Blocktrail or Coinbase.
We hope that with the tips and tricks we've listed, you can keep your Bitcoins out of reach of cybercriminals.
