Are you planning to get into the world of buying Bitcoin online? If so, you need to know the steps on how to secure your Bitcoin wallet. Keeping your Bitcoin secure is not as simple as using a traditional bank since your money is not protected by any government entity. That means you need to take steps to secure it on your own. Here are some tips for doing just that.
Store Your Bitcoin Wallet On A Flash Drive
One mistake that many people make is keeping their Bitcoin wallet on their main computer that is connected to the Internet. The reason this is not a good idea is because if the wallet is in a place that someone can easily access, you are at risk of getting hacked. If anyone is able to gain access to your computer, they can gain access to your Bitcoin wallet and everything that is in it. Someone can use your Bitcoin wallet to transfer the funds to a different account, which would cause you to lose all of your money that you have invested in Bitcoin.
You not only need to worry about hackers that are trying to get into your computer to find your Bitcoin wallet but people you know in real life as well. Someone that steals your laptop could have access to your Bitcoin wallet if they know what they were looking for. If anyone knows that you have invested in Bitcoin, this can make you a target of theft.
Keeping the Bitcoin wallet on a flash drive helps ensure that nobody can access it unless they have the physical flash drive. You can then take methods to secure your flash drive, such as putting it in a fireproof safe or a bank's safety deposit box.
Store Your Bitcoin Wallet On Printed Paper
If you have concerns about the drive becoming damaged and unreadable, know that you can print your wallet out on paper. You can actually print out a QR code that can be used to access your Bitcoin wallet, with one being used for spending money and another being used to load money onto it. This code can then be printed and placed in a safe place, like that bank safety deposit box, so that the only way to get to it is by physically holding it in your hand. It's the best way to protect yourself against digital hackers that want to get into your computer and take your Bitcoins.
If you buy bitcoin online, make sure you follow these tips.