How not to loose your Bitcoins
Bitcoin safe usage is the most discussed topic among Bitcoin holders. Here we go with a list of most popular tips on how not to loose your Bitcoins:
1. Offline wallet can be the most secure solution
Offline wallet is not connected to Internet, therefore can be considered the most secure way of keeping your Bitcoins. Please remember that any device with the access to Internet is not 100% safe - no matter how good it is protected from hackers. There are many options to keep your bitcoins – USB-wallets, paper and vinyl wallets are the most popular options.
2. Always update your bitcoin application
The failure to update your Bitcoin application will result the higher possibility of theft amd scam. Every new release fixes security breaches, so treat it like a vital procedure.
3. Make a backup copy of your wallet
A backup copy of your Bitcoin wallet will save you in situations of your computer/phone hardware failure. It is important to have the backup copy of your entire wallet, because the private keys are hidden and you won't be able to get back your money by copying the address of your Bitcoin wallet. Duplicate your backup copy just in case your initial backup is lost.
4. Don't keep all your bitcoins in one wallet.
Try to use several bitcoin wallets. At least 2 or 3. One will be for an active usage ( where you will have a couple of bitcoins ), the rest for keeping your major balance of bitcoins.
5. Always encrypt your BTC wallet
The majority of bitcoin wallets gives you possibility to keep your private Bitcoin keys online. In this case your private key is accessible via 3d party, so it creates additional risks. In the same time 24/7 online access gives you full flexibility. Encryption of BTC-wallet is the solution. Encryption of an online wallet means setting a strong password including numbers, special symbols and capitals. For the password use abstract associations which can be easily remembered by your later.