Bitcoin is currently one of the hottest topics in the world. Not just Bitcoin, but cryptocurrencies in general. There is no question that they have the best price for potential buyers, but they are still a risky and illegal investment option in most countries.
Since Bitcoin is not regulated by any financial authority, you have no legal protection if something goes wrong. Because blockchain is a new technology, not everyone understands, things get worse for some users.
Whether you’re linking it to an online casino or a scam web merchant, there is a risk that someone could steal your hard-earned crypto. But that’s why we’re here. Here are some tips and tricks that will protect your bitcoins and keep you from losing them all.
- Use a secure internet connection when purchasing
- Use only reputable exchanges
- Cold wallets are better
- Change passwords on regularly basis
- Secure your device
- Watch what you buy
1. Use a secure internet connection when purchasing
When buying cryptocurrency online, you should always use a secure connection. By secure connection, we mean your home. Avoid using public Wi-Fi networks – this is like inviting thieves into your home.
Corrupt scammers are monitoring these networks for potential buyers and may pick up your Bitcoins before they know it. To make things more secure, you can choose to use a VPN. This will change your IP address and location, making hacking more difficult for hackers.
2. Use only reputable exchanges
When it comes to buying cryptocurrencies and using them online, you should only do so through reputable exchanges. We’re not going to recommend one or the other – there are plenty of great options you can find online.
A prestigious exchange will allow you to buy and store your Bitcoins in a safe place, so no one will be able to access them. Even if there is a leak, you are not responsible for it. The exchange will take full responsibility.
3. Cold wallets are better
Hot wallets are easy to use, and have one in every well-known cryptocurrency exchange. However, cold wallets are better if you want to keep your bitcoins safe and secure.
These wallets are not connected to the Internet – they are hardware devices such as USBs or portable disks that are kept offline. In that case, your keys and bitcoins will be 100% safe and secure from the corrupt hackers who are destroying the Internet. They are a safer choice than hot wallets.
4. Change passwords on regularly basis
Changing your account passwords regularly is a great idea to secure your Internet presence, not just to store Bitcoins. Studies show that a large number of people have been using the same password on 10 or more devices for thousands of years, so they are an easy target when hackers attack the Internet.
You need a strong and complex password, especially when using bitcoin hot wallets on the web. It should be difficult to estimate, and you should change it on a regular basis for the best level of protection.
5. Secure your device
Whether you’re using your computer, laptop, or mobile phone to buy and transfer bitcoins to the web, you need to secure your device. Make sure you have the latest anti-virus definitions installed and use anti-malware tools to protect yourself from malicious attacks.
This doubles for those who have bitcoins stored in a hot wallet. Hackers constantly write code that reveals vulnerabilities, but fortunately, antivirus companies do the same, so stay tuned.
6. Watch what you buy
If you want to be safe when using Bitcoin online, you have to look at what you buy. Never buy from suspicious websites and always check SSL encryption. If the certificate is invalid, the browser should notify you, and you should leave the site immediately.
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