Implement security measures for your Bitcoins wallet

Trying to understand what a Bitcoin is can be a headache, especially if we think that it is a currency scheme that breaks the established molds and that they have undergone classical schemes of progressive evolution and that have made them more complex, but what we must understand is that when acquiring bitcoins you need to have a wallet to store these and this can become a problem since some problems can occur.

The Bitcoin is virtual money (cryptocurrency), which only exists in the digital world, so there is no possibility of physically seeing a Bitcoin. This does not mean that it cannot be used to acquire tangible goods, as we have already seen. Bitcoins are not the only cryptocurrency that exists, but it is the most common.

You must be careful with any service that stores your coins online. Many exchange houses and online wallets have had security flaws and are not a safe enough option for you to store your coins as if it were a bank. Therefore, you should use other types of Bitcoin wallets. If not, try to choose these services very carefully.

Protect your Bitcoins wallet with various implementations

If you keep it in a safe place, backing up your wallet can protect you against computer or human failure. It also allows you to get your wallet back if your mobile phone or computer is stolen, as long as your wallet is encrypted. There are many security measures that you can implement such as:

▸Never forget your password

This is undoubtedly essential PLEASE SAVE YOUR PASSWORD VERY WELL!!! you must ensure that you will never forget your password or lose your funds forever. Unlike your bank, Bitcoin does not have password recovery options. In fact, you should be able to remember your password after many years without using it.

▸Take a full backup of your wallet

Some wallets use many private keys internally. If you only have a backup of the private keys of your Bitcoin addresses, you may not be able to recover a large part of your funds with that backup, so it is important to create a complete one.

▸Use many safe locations

Single points of failure are bad for safety. If your backup doesn’t depend on a single location, unexpected events are less likely to prevent you from recovering your wallet. You might consider using different media such as USB, papers, etc.

▸Encrypt your wallet

Encrypting your wallet or smartphone allows you to set a password for anyone trying to withdraw funds. This offers protection against theft, although it does not offer protection against software or hardware “keylogging” systems, so this is not the only security recommendation for your account.

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