Is wallet security important to use? - page 33.

btcdevil

legendary

Activity: 1302

Merit: 1027

Quote from: Suprex125 on May 13, 2018, 02:51:33 AM

I once read for security wallet,
this is just for discussion how to secure the wallet. I do not think there is a security system and there will be no theft in the wallet.

If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too! Thieves can also take your bitcoin if it gets access. Consider the following tips to avoid losses:

Perform regular backups regularly
Save the backup on another device like in flash or another computer.
Use the encryption feature
With encryption, each transaction requires a login with a password. This prevents thieves who manage to gain access to your computer.
Do not forget the password
Losing a password equals losing your money! Wallet does not provide a password forgot feature.
Learn more please learn how to secure your wallet here: http://bitcoin.org/en/secure-your-wallet

Do you guys have a better idea to avoid theft in the wallet?
Your Knowledge and Ideas will be more helpful if shared.

The main security you should follow is to use the wallet in the system where you don't use internet regularly. Don't download any exe file which offers big bonus but it contains virus which hacks computer and steals data's.

mimienamphine

member

Activity: 252

Merit: 12

Wallet security is the most important thing because after your hardwork is kept in that wallet you need to protect it. Else a scammer will make your work in vain.So we need to protect our wallets with all diligence.

opg777

member

Activity: 170

Merit: 12

1) The thief receives a password from your account in the storage service. Here everything is simple if you use the service for example: Coinbase. The thief just needs access to your mail, he will then ask for a recovery password for the account and steal everything that is stored on such services.
2) The hacker depicts the recipient of the bitcoins. When transmitting tokens, it's better to check a hundred times to whom and for what you send your coins.
3) You rely on an unsafe third party.
4) You open your private key yourself.
5) Fraud with exit from business. For example, you invested in a fraudulent ISO or sent your money to a stock exchange that is not trustworthy.
P/S : Another no less important advice, "always keep your mouth shut." I mean, do not tell superfluous people that you have tokens. Then you significantly reduce the risks.

zoomzoom

full member

Activity: 350

Merit: 125

Always be vigilant and alert, I've been in crypto for about 6 years, and the only time I've lost crypto was through btc-e though that was out of hands. Some people can really be lax protecting their private key, forgetting that, that is all a person needs and your funds are gone! Definitley read up on latest sec and encryption news to learn how best to protect yourself.

Viranz

newbie

Activity: 133

Merit: 0

It is very necessary because the wallet that we use is a place to store something valuable and you will not want the wallet is hacked is not it? You better look for a good wallet and secure security, and that is not complicated to use. I mean you understand with the wallet.

genixye

newbie

Activity: 154

Merit: 0

The safety of the purse is very important. If not properly kept, your assets will be damaged if you lose your password or get caught in a Trojan.

So we must keep our encrypted wallets.

neliawesome

jr. member

Activity: 210

Merit: 1

I agree all of us need to be extra careful regarding in handling our wallet.We should make a back-up in order to secure our account and make sure all your private keys are backed-up.Nowadays theres a lots of scammers and thieves so never ever trust anyone regarding your personal account even if its your close friends.Be more extra careful in all your actions to avoid loss.

crypto_geeek

newbie

Activity: 72

Merit: 0

You can store your cryptocurrency coins on a cold wallet or on a paper wallet, so you will protect yourself 100%. These are the most reliable ways to store cryptocurrency today.

Suprex125

newbie

Activity: 60

Merit: 0

Quote from: bob123 on May 13, 2018, 03:52:23 AM

Quote from: Suprex125 on May 13, 2018, 02:51:33 AM

If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too!

Bitcoins are not stored inside a device. The private keys, which are necessary to use/move the corresponding UTXO's (which have been confirmed on the blockchain), are stored inside your device.
A simple backup of your private keys (or better: seed) can counteract a loss of bitcoins if the device breaks.

Quote from: Suprex125 on May 13, 2018, 02:51:33 AM

Do you guys have a better idea to avoid theft in the wallet?

Split your holdings. Majority in a secured cold wallet and a small stack on the mobile/desktop wallet for daily purchases.
Or: Use a hardware wallet with seed being backed up in multiple secured places.

The key is to reduce the possible attack surface to a minimum.

And use your common sense. BTC's not only get stolen through digial/physical theft, but also through shitty ICO projects.

thanks for the idea you gave me so that I can secure my wallet better than anyone who wants to use it without being responsible.

wantjokull

sr. member

Activity: 700

Merit: 275

Quote from: bob123 on May 13, 2018, 03:52:23 AM

Quote from: Suprex125 on May 13, 2018, 02:51:33 AM

If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too!

snip

Haha, very true. Bitcoin is not a thing which gets stored over the phone! Its just floating algorithm around the blockchain and added into the blocks and stored over there forever.

About the security, yeah we can just be extra careful about the private key storage and nothing else. As that is the only Lin between your bitcoin and a thieve from getting it stolen. So just have private keys stored "privately" that would be enough.

Marrionbitcoin

member

Activity: 294

Merit: 11

Quote from: Suprex125 on May 13, 2018, 02:51:33 AM

I once read for security wallet,
this is just for discussion how to secure the wallet. I do not think there is a security system and there will be no theft in the wallet.

If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too! Thieves can also take your bitcoin if it gets access. Consider the following tips to avoid losses:

Perform regular backups regularly
Save the backup on another device like in flash or another computer.
Use the encryption feature
With encryption, each transaction requires a login with a password. This prevents thieves who manage to gain access to your computer.
Do not forget the password
Losing a password equals losing your money! Wallet does not provide a password forgot feature.
Learn more please learn how to secure your wallet here: http://bitcoin.org/en/secure-your-wallet

Do you guys have a better idea to avoid theft in the wallet?
Your Knowledge and Ideas will be more helpful if shared.

Of course, we need to secure our Bitcoin wallet from hacker so we really need to install security application for the protection and safety of our investments.
You may try google authenticator that requires additional random passwords provided by that apps and it changes from time to time.

bob123

legendary

Activity: 1624

Merit: 2481

Quote from: Suprex125 on May 13, 2018, 02:51:33 AM

If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too!

Bitcoins are not stored inside a device. The private keys, which are necessary to use/move the corresponding UTXO's (which have been confirmed on the blockchain), are stored inside your device.
A simple backup of your private keys (or better: seed) can counteract a loss of bitcoins if the device breaks.

Quote from: Suprex125 on May 13, 2018, 02:51:33 AM

Do you guys have a better idea to avoid theft in the wallet?

Split your holdings. Majority in a secured cold wallet and a small stack on the mobile/desktop wallet for daily purchases.
Or: Use a hardware wallet with seed being backed up in multiple secured places.

The key is to reduce the possible attack surface to a minimum.

And use your common sense. BTC's not only get stolen through digial/physical theft, but also through shitty ICO projects.

Suprex125

newbie

Activity: 60

Merit: 0

I once read for security wallet,
this is just for discussion how to secure the wallet. I do not think there is a security system and there will be no theft in the wallet.

If you choose your wallet or phone software, you need to be extra careful! Remember that bitcoins are stored inside your device. If your computer or phone breaks down, your bitcoin is gone too! Thieves can also take your bitcoin if it gets access. Consider the following tips to avoid losses:

Perform regular backups regularly
Save the backup on another device like in flash or another computer.
Use the encryption feature
With encryption, each transaction requires a login with a password. This prevents thieves who manage to gain access to your computer.
Do not forget the password
Losing a password equals losing your money! Wallet does not provide a password forgot feature.
Learn more please learn how to secure your wallet here: http://bitcoin.org/en/secure-your-wallet

Do you guys have a better idea to avoid theft in the wallet?
Your Knowledge and Ideas will be more helpful if shared.

Topic: Is wallet security important to use? - page 33. (Read 28216 times)