BlogCommunityA 5-Step Process to Improving Your Bitcoin’s Security Online

A 5-Step Process to Improving Your Bitcoin’s Security Online

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The 21st century is an era of digital advancements. As the industrial revolution began, a need for a better lifestyle arose. To keep up with the same, several gadgets and tools were invented to ease the functional aspects.

Technology also helped improve marketing, stabilize and govern the economy better, and give an impetus to every sector. One modern tool that has taken the world by storm has been cryptocurrency.

The decentralized asset, cryptocurrency, and blockchain have created a space of technology of their own. In recent times, crypto, such as bitcoin, has gained quite popularity. It has attracted several business people to invest their funds and store them. 

Bitcoin is one such crypto that has attracted several people to invest and store them in digital wallets. However, they are decentralized assets, making the owners even more responsible for storing them securely.

There are several steps to improve your bitcoin’s security to avoid breaches in the blockchain system. Discussed below are some tips to strengthen your bitcoin’s security online. 

Tip #1: Use Hardware wallets 

Technological advancements have provided several tools to cyberpunks to carry out data breaches. Most cybercrimes are usually carried out through some malware on the web.

Usually, these malware programs are hidden in some sites or links embedded by malicious groups. These malware programs breach through your system into the blockchain and steal cryptos and sensitive information. 

To avoid such instances, local vaults such as Hardware wallets are a good option. The digital wallets are not connected to the network and are already equipped with security features. Further, they are also encrypted, and so your bitcoins stay secure from cybercriminals. 

Tip #2: Get a Secure Encrypted Network with a VPN

Every time you get on the web, cyberpunks and malicious groups are on the lookout to trace your digital footprints to find tracks to steal your data. The data may include your addresses, login credentials, payment transactions, and much more. 

This occurs because most public networks, WiFis, and home networks are not encrypted. This loophole makes it easier for malicious organizations to breach through the systems. 

To stay safe from such cyber threats, an easy way is to secure your network with a VPN. A VPN(Virtual Private Network) creates a private encrypted tunnel for your data packets.

It keeps your IP address hidden from prying eyes, thus hiding your location whereabouts. Hence, this safeguards your privacy by keeping your online identity anonymous. 

Tip #3: Beware of Phishing Scams 

Phishing is one of the most common scamming methods adopted by various malicious groups. It is the practice of stealing account credentials by tricking the users through alluring offers or posing as a legitimate site. These scams are usually done over emails and sometimes over text messages – smishing. 

As soon as a user clicks these links or inputs credentials, the malware programs breach through the system. It could result in the theft of your bitcoins. To avoid such instances, always verify that you are entering the authentic sites.

Generally, the scam sites have some spelling or logo mistakes. Further, using a disposable email only for work-related emails could also help. 

Tip #4: Create Unique, Strong Passwords 

Cybercrimes have increased a lot more in recent times. If your account has a weak password, such as your birth date or your nickname, it could be easily broken through. Further, having the same password in multiple accounts could also pose harm to your security. Cyberpunks keep a lookout for dumped passwords of various low-security sites. 

As per a survey, more than 65 percent of people reuse the same passwords. To avoid getting your password broken through, using unique and authentic passwords is the key.

You may use password managers to keep a record of all your account passwords. Further, these software programs also provide suggestions for strong passwords

Tip #5: Use Two-Factor-Authentication Factor (2FA)

Cyberpunks steal your data with the least protection. Most people usually secure their data with a single-security firewall. As technological tools have advanced, it has become easier for malicious groups to break through a password-secured system. It eventually leads to your system getting breached by malware and loss of sensitive data. 

To prevent this chain of events, two-factor authentication, 2FA is a security measure that alerts you every time someone tries to access your account. You will receive a code or link to confirm that the person accessing your account is you or someone you trust. This measure could safeguard your bitcoins against cyber criminals online. 

Conclusion 

The 21st era has been the era of technological advancements. Gadgets, tools have improved the lifestyle drastically. One tool that has attracted many people in business and investors has been cryptocurrencies.

Cryptocurrencies, such as Bitcoin, are decentralized units of currency that are available online. However, this has also attracted quite a bit of unwanted attention. 

To safeguard from cyberpunks online, security steps must be taken by blockchain and digital wallet owners. For this purpose, hiding your IP addresses, using 2FA, and creating unique passwords must be practiced.

Further, you may also use the hardware wallets for additional safety. Using these security measures could easily lead to improving your bitcoin’s security online. 

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