Topic: Should I Be Scared Of Hackers If I Have Lot of BTC. - page 11. (Read 4186 times)

You can depend on the highly suggest wallet of professional traders and it also depend on the coins that you are holding on what wallet you should choose. The best thing to do is look for the information before choosing a wallet where to hold your coins.

No you should not, Just make sure to always take precautions and do not click the unknown links that are being sent to you by unknown users because it might be a phishing site. Phishing sites is the only way for you to get hack because the password and private keys of wallet is incripted.

Its depend if where wallet do you put to store your coin, i think before you collect bitcoin, first you should search about wallet want to use, then pick a strong password also dont tell to anyone your personal info. There are a lot trusted wallet to choose but just be careful when you pick wallet.

You should not worry if you have taken enough security precautions while holding your Bitcoins. However, consider the following checklist while making sure about security.

1) Maintain Offline Wallets - You can either use securely generated paper wallet or buy reputed hardware wallets like Trezor to keep your funds offline. It doesn't matter to hackers if you are holding your funds online and maintaining all security guidelines because generally there is a possibility of hacking of the database on the server side where you can't do anything about it.

2) Diversify - Try to diversify your funds and make sure that you are not keeping a high amount of Bitcoin in any single wallet. It will help you to spread the risk among multiple wallets.

3) Backup Options - Make sure that you are maintaining multiple backup copies stored at safe yet various places having no unauthorised access. In case of hardware wallet, you can keep seed keys secure.

I have btc stored in electrum.  I do have a password i put in it if you want to send btc.  Thus if you send btc, it ask for your password.  However, i did not put a password there for the encryption of the btc balance.  I also used electrum litecoin where i keep litecoin and when i click on it, i have to put the password in order to view my litecoin balance and history etc.


To those that use electrum, do you encrypt your wallet where you have to put a password on it before you can view how much btc is showing on balance?  Because if you don't, when you click on electrum wallet, it shows your btc balance etc.


I use windows.  What precautions can i take since i use a computer for it?  For example, i asked on a thread where i said if someone had access to my computer, could they install a keylogger or malware or program and then hack my electrum?  I was told yes.  This is true right?  I feel it has to be true since i read about people who download the wrong electron cash and then got their btc stolen... so that means if someone computer savy got your laptop, then you have no more bitcoin?


People say use cold storage or hardware wallet.  What exactly is cold storage?  The thing is what if you use electrum a lot to send btc to and from etc.  Would cold storage work for that?  About the hardware wallet, you mean trezor or the ledger right?  So if you had a hardware wallet, its impossible for someone to hack your bitcoin wallet?  So if you have trezor, you dont need electrum anymore?  So if you download the wrong electron cash on your computer but use trezor, your bitcoin are safe?   But what if someone had your computer and your trezor?  I assume they still need to know something for your trezor and if so what is that?  Is it a password or a number code?


Now let say you dont have a hardware wallet and just use electrum or exodus or your computer.  Well if you put a password on your computer at startup, is that enough or not?  Like if you put a password for windows before startup, its the one where you have to type it before you can use your computer... is that enough?  I did hear its easy to get by that and the windows password is useless.  Is that true or false?  I also heard people mention bitlocker or something like that.  Can someone explain this?  So having bitlocker would protect your computer information if someone had access to your computer?  Thus if they had physically possession of your computer, they would not be able to view your computer without a password?  Because i want to know what is the way to make sure no one can log into your computer if they were to say have access to it.  I assume this is the number 1 thing you could do to protect yourself besides not clicking on links etc?


Also there are tons of links and signatures here from poster etc.  Is there a very good chance some of these links posters post here are keyloggers/malware where clicking it could mean your bitcoin wallet such as electrum get hacked?

yeah, cryptocurrency era has spawned a whole new generation of scammers, phishers, hackers and the like. better beware!

Definitely, The easiest way to get Bitcoins is to hack someone's wallet, it became a trend for all the hackers and lots of people are trying to do it. Buy a trezor or ledger nano and keep your bitcoins and altcoins safe.

If you have a lot of bitcoins in your wallet and your wallet got hacked. There's nothing you can do but to pray for the hacker to give it back to you. But,  there are ways to prevent your wallet get hacked by hackers. For now, dont worry about about those people who had their account hacked. Just think about your own safety first. First, avoid clicking unknown links or links that seems suspicious, before you proceed on clicking it, aks some members or get help from members here in the forum if they knew that link. This is by avoiding phishing sites that may stole your account once you click it. And the second one is, never post in public, give, and tell your wallet's private key to anyone. Only choose those people you thrust the most for keeping it. But sometimes those people you thrust the most also betrays you. That's why keep your private keys for yourself. This is by avoiding your wallet to get hack or stole your bitcoins.

Yes, you should. Because the hackers are more and more dangerous now. So you should be careful. You should put a small of coin in the exchange to trade or for fee. The rest should be store in offline wallet.

It is every owner's responsibility to protect their bitcoin. Since bitcoin's transactions are irreversible we should always protect our wallet because once your bitcoin was already transferred to another address it is impossible to get it back unless you can identify who the owner is and file some legal actions.

If you are really hodling a lot of coin I would suggest it is better to do some precautionary measures to safe guard your coin. Keeping it in an online wallet is the most vulnerable way to keep it. I would suggest using a paper or a hardware wallet is best to secure it.

Once your Bitcoin was already hacked you can't do anything about it and you can consider it as lost, so preventing it to be hacked is the best move to do.

Save all your coins on trezor or a ledger, till you keep it on an online portfolio you are ever under risk.

But you must remember something that even if you sure that there's no hole to your account or your account have been securly kept from your own opinion, there'll always some kind of hole that the hackers can get to.
Always be aware of your security and trying to always improve the security. however, best choice is to use offline wallet so that even hacker can't get into it.

I do know a lot people wich has a big ammount of bitcoin and they have the coins outside any exchange and out of the radar of hackers, ledger and others ways to store their wallets, some of them had printed the seed as well, the best way to stay protected is choose a reliable wallet and dont use the computer for nothing else. Hackers usually are getting acess because we surf into the web and they know those soo they are creating the virus to get easy money, but with 2fa, a strong password and dont open suspected websites will let you play with your coins without issue.

Well, what I say my opinion is the best and most comfortable way to secure your bitcoin is using a hardware wallet. There are some that quite popular once like Trezor or Ledger Nano S. If you can have a lot of bitcoin, you should not  have a money trouble for buying this kind of wallet. You should not focus for searching the answer for your last question, as none you can do if that happens. The best way is prevention is always better than seeking for solution after it have happened.

Certainly you must be careful. Hackers are become more dangerous now, Tether coin has been hacked $31 millions few days ago. you should store you coin in offline wallet

NO you shouldn't be scared of hackers if you have a lot of Bitcoin because if you know that your account is secured and you are the only one you know it there's no chance to hack it but if your bitcoin or your wallet get hacked just report it so that both of you will suffer your account can be banned and he/she can't use it.

Once your BTC got hacked, the probability of it being recovered is nearly impossible. I suggest that you have be extra careful specially from phishing attacks. Not long ago I got a virus that every time I copy my wallet address the paste result is different. You should keep your computer clean at all times.

If you want to surf into the internet without even caring of your security then you should have another type of device or computer to use because if you don't have an extra computer for some of the things that you want to do and if you will try to do all the things in only one computer then it will be very risky for you and it is not the best idea that you can depend on.

For now, i think phising sites to get bitcoins login information are not using hackers nowadays.
They seems going to take over your computer by getting all access information, so you should be take care fully about what are you browsing, what are you downloading, these should be come from trust able sites. This what i worried.