Bitcoin is a virtual currency based on blockchain technology. It is a fantastic currency, but you need to be careful while using it as it involved several risks. Before you start using bitcoins, you need to learn who to keep them safe from all kinds of risks. You can use bitcoin trading app if you wish to trade some bitcoins and make money. Some of the top security tips that you need to follow while using bitcoins are as follows.
Don’t use web wallets
There are different types of bitcoin wallets with varying features. When it comes to security, each type of wallet has a different level of security, so you need to be careful while choosing a bitcoin wallet. If you want to ensure the security of your bitcoins, you must avoid using web wallets. Web wallets are online wallets that you can access through a browser. These wallets are highly successful, but they are quite exposed to risks such as cyber-attacks, hacking, etc. So, if you want a bitcoin wallet to store your savings, it might not be the best option.
You can use a web wallet for daily transactions, but if you want to store the bulk of your bitcoins, you must avoid web wallets as they are managed by third parties, which can get your bitcoins stolen. Bitcoin is different from traditional currency as if you lose it once, you won’t be able to recover it. So, it better to be on the safe side and take all the precautions like avoid using web bitcoin wallets.
Create separate wallets
Hackers always have an eye on the wallets that make big transactions on a regular basis. So, if you want to stay away from the radar of cyber-criminals, you must maintain different bitcoin wallets for varying purposes. There is no limit on the bitcoin addresses that a person can own. If you want to maintain the security of your bitcoins, the best option is to maintain separate wallets. You can keep a wallet for holding most of your savings and another wallet for making daily transactions.
Keeping separate wallets will make it convenient for you to use bitcoins as you will be able to make transactions without worrying about your wallet being hacked and bitcoins getting stolen. In such a way, you will have a different bitcoin address for savings, sending funds and receiving funds. It will help you to store your funds in an organized manner.
Create regular backups
Most of the bitcoin wallets or any other cryptocurrency wallets nowadays offer the backup option, which you must use. Creating backups for your bitcoin wallet all you to access the bitcoins even if you lose the private keys or system on which you have stored the wallet crashes. So, you must choose a bitcoin wallet that allows you to create backups and back the wallet regularly. It is better if you create multiple backups and store them in different locations. You can store the backup in different devices such as USBs, Hard Drives, CDs, etc.
Avoid clicking on unknown links
There are several ways used by hackers to steal bitcoins, and one of them is phishing. In phishing, they send you an URL, and when you click on it, all the data stored on your system is sent to the hacker. So, you must be careful while using the system on which you have stored the bitcoin wallet and avoid visiting any unsafe website or clicking on any suspicious link. It can lead to an information breach and make you lose some of the crucial data and information stored in the system. It would allow hackers to enter your bitcoin wallet and use the funds stored in it. So, you must avoid clicking on any unsafe or strange URL or link.
Use a safe connection
The network that you are using while making bitcoin transaction also has a huge impact on security. You must avoid using a public network as it increases the risk of losing the information shared on it. You must use a private and secure connection so that all the data transferred on it encrypted and no outsider can gain access to it. For additional security, you can use VPN, Virtual Private Network as it will change the IP address and will make the connection safer.