hey all. So im going to create a blockchain account as i read that is what i need since coinbase would close my acct if i use it directly for gambling transactions as ppl here mentioned.
I heard stories about hacks getting hacked and bitcoins are no longer there. How do i make sure this doesn't happen? I heard about hot/cold storage etc. I had thought if I just have a good password, that i should be fine. But that isn't enough? I hear so many complicated things like you need to do these excessive password etc... can someone explain this?
Last thing i want is to log into my coinbase or blockchain wallet, then find out my acct get hacked. I do know that for blockchain or coinbase u have to remember your password... is that right? But even if you do, how does the acct get hacked then?
Yes setting up a cold storage (paper wallet, offline wallet, hardware wallet, etc) will provide you the highest security against hacking.
Using blockchain.info wallet (or any other wallets that you are the only one having your private keys) is okay, but you should:
- Never download any suspicious files
- Never click any suspicious links or phishing links
- Never store your password as plaintext on dropbox, gmail etc
- Enable 2FA whenever possible
- Use a long and complicated password that has never been used on any other sites
