Why Security in Crypto Matters? | Bitcointalksearch.org

HakaseMarui

newbie

Activity: 41

Merit: 0

Quote from: sunsilk on March 05, 2020, 08:51:32 PM

I don't keep my funds on any exchange if I do so, it's very minimal and not that much of amount that I can't avail to lose. I have read somewhere this strategy of hiding your files and folders, although it's not that of a security but it's another way to simply add and keep your important files that contains your keys (if you are keeping it on a file format).

A backup is a must so don't depend mostly on your single file that keeps your PKs or the written format that you make. Always create a backup or duplicate or even more where you can keep it in a very safe storage that can't be find out by others.

It actually would be wise to just put your funds on a wallet or ledger which ofcourse is also a safe one. I do prefer trezor and exodus, I usually put my assets there specially my bitcoins when I am not trading it. Its much safer to do that way ifyou arent really into trading but still, choose the right exchange

Quidat

hero member

Activity: 2688

Merit: 540

DGbet.fun - Crypto Sportsbook

Quote from: konflikkastil on February 17, 2021, 03:53:04 PM

Security in crypto is very important, and it should be a top security to ensure it is secured probably. This is the first thing but always do whenever I open a new wallet, I always make sure I save my private keys in a secure place. Offline is the best way to save your keys, cause if you do save it online, your data might be exposed and that could leads to the lost of your precious assets. The fact that the crypto is a digital currency, it should be monitored with topmost security. Even more than the so called the bank security system. The ony different when it come to crypto is that, it is not control by anybody

Cryto is valuable and this is just indeed on storing off your money in a bank but this one is on different manner yet we are our own banks which means
security would really start from us on how we do handle it out and how strict we are trying to do those safety measure for our coins to be on the safe side.
Hacking and scamming is pretty common and offline storage is one of the ideal or best way on keeping your coins safe but doesnt mean it will
not really be affected by external events so you should really be watchful into those keys.

konflikkastil

member

Activity: 879

Merit: 10

Sovryn - Brings DeFi to Bitcoin

Security in crypto is very important, and it should be a top security to ensure it is secured probably. This is the first thing but always do whenever I open a new wallet, I always make sure I save my private keys in a secure place. Offline is the best way to save your keys, cause if you do save it online, your data might be exposed and that could leads to the lost of your precious assets. The fact that the crypto is a digital currency, it should be monitored with topmost security. Even more than the so called the bank security system. The ony different when it come to crypto is that, it is not control by anybody

gorepoonam

newbie

Activity: 1

Merit: 0

Cryptocurrency Market Size, Share and COVID-19 Impact Industry Analysis, By Component (Hardware, Software), By Type (Bitcoin, Ether, Litecoin, Ripple, Ether Classic, Others), By End-use (Trading, E-commerce and Retail, Peer-to-Peer Payment, and Remittance), and Regional Forecast, 2020 – 2027

For more Information Visit: https://www.fortunebusinessinsights.com/industry-reports/cryptocurrency-market-100149

Xinarae*

sr. member

Activity: 1414

Merit: 326

No one can guarantee security in crypto because there are so many hackers can easily take everything by hacking the exchange site and it is very difficult to get back the lost resources. Therefore, you have to be careful about your own safety your site's personal information cannot be shared with anyone crypto is traded in a decentralized manner but binance is a good place to keep cryptocurrencies safe for exchange. Because the binance rules are so hard, hackers don't get the information very easily.

HakaseMarui

newbie

Activity: 41

Merit: 0

Its just not about the security tho as you may know this market can easily be hacked specially centralized cryptocurrency exchanges even the big ones wasnt able to avoid such hack like Binance, what we need is that it has security + assurance of getting our assets back

faulkner27

newbie

Activity: 14

Merit: 0

Cryptocurrency got its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers. The aim of the encryption is to provide security and safety. While the blockchains used to record cryptocurrency transactions offer real security advantages, many believe these transactions to be more anonymous than they actually are. Furthermore, cryptocurrency exchanges have proven vulnerable to hackers, meaning that crypto does not offer security guarantees.

lienfaye

hero member

Activity: 3010

Merit: 629

Quote from: superving on October 30, 2020, 06:23:04 AM

Crypro is a like a business, in order to attract investors you must do all the thungs to their investment safe from thieves /hackers, thats why strong security is the most needed by exchanges.

Exchanges are prone to hacking so its a must that they have a high security features to protect their exchange and the users.

Crypto became popular to many people now and the users are increasing as well, it also means those hackers who want to take advantage the weakness of newbies are active again to have a victim.

So be careful on where to entrust your crypto, if you're not going to trade it then dont let it sleep in exchange, use a wallet that you're the one holding your private keys.

konflikkastil

member

Activity: 879

Merit: 10

Sovryn - Brings DeFi to Bitcoin

I'm of the opinion that the first thing you do when you open a new wallet is to find out if the platform is secure. A stronger security will definitely put your mind at rest against any theft for your coins in the nearest future. Security matters a lot, just has every account details has its own way of securing it. I do not see why crypto own should be any different. In fact, the crypto security access should be very hard and strict. You know why, bcause it's all done over the internet. There are lot of hacks going on u and down. And one other thing that can secure your wallet too is never try to expose what you have in your wallet to anyone. It will be very hard for anybody to want to hack into what they don't know what's inside. By making sure your wallet address is secure too, it could also help in securing your account.

chippy.hogan

newbie

Activity: 28

Merit: 0

Ofcourse the stronger the security is , the better for you! Its your responsibility to take care of your own assets.

rokon1234

member

Activity: 462

Merit: 16

Everyone try to safe their money and cryptocurrency is related of your own money.No one try to lose their money on crypto, that's why everyone search secured and safety place.

ninabobo

full member

Activity: 463

Merit: 100

blockchain is about security and straightforwardness yet it would seem that these trades were not zeroing in on it, they appear as though they are zeroing in on procuring their assets.

johnmurphyy

newbie

Activity: 4

Merit: 0

Since it uses encryption to validate transactions, Cryptocurrency received its name. This implies that advanced coding is involved in the storage and transmission between wallets and public ledgers of cryptocurrency data. The object of encryption is to provide safety and protection.

Samayuki

member

Activity: 574

Merit: 24

Quote from: bL4nkcode on March 05, 2020, 06:56:03 PM

It always happens to people who are used to regarding saving money in traditional way, like on banks, people keep trusting banks as if their money are 100% safe there. With that, once these people enters crypto, same thing they will do, they wil trust these centralized exchange even though there are lots of them already hacked.

And sure thing, security matters when it comes to finance.

I don't think so, people are fully aware that bank accounts can be compromised nowadays, even your master card numbers must not be revealed or your funds will vanish from your bank account, today people steal people's funds through their bank account, the risk is well known, crypto wallet is just like bank accounts too, you have to keep your bank details and passwords or pin hidden and private to yourself only, that's exactly how crypto wallet should be treated

andrewsmith77

newbie

Activity: 1

Merit: 0

You gotta be careful because someone might ask you for money and take it and its gone Grin

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Quote from: Issa56 on December 10, 2020, 01:49:48 PM

Everybody knows that security really matters when it come to cryptocurrencies.
You just have to make your private key safe to avoid lost of funds to schammers!!! So when it comes to cryptocurrencies u just have to make your private keys are safe!!!

Right and store it to the place where the intruders or anyone strangers who want to take your keys to steal your balances. And we need to know the things we need to avoid and other proper way to safe keep our balances since sometimes the one we think safe is the most dangerous thing we do since anyone can penetrate us especially in open platforms.

Here are the things we must read to protect our private key and be safe from any harm https://www.coolwallet.io/10-best-tips-to-protect-your-bitcoin-wallet-private-key-or-recovery-seed/

Issa56

hero member

Activity: 1484

Merit: 928

Everybody knows that security really matters when it come to cryptocurrencies.
You just have to make your private key safe to avoid lost of funds to schammers!!! So when it comes to cryptocurrencies u just have to make your private keys are safe!!!

kotajikikox

full member

Activity: 2548

Merit: 217

Quote from: Mahanton on March 05, 2020, 06:31:06 PM

If people are just responsible and be careful on their private keys then losing funds is lesser and also using up centralized or custodial wallets should really be avoided.

everyone wants to be responsible but hackers and scammers are good at it so chances are they become a victim than a secured person
things that i believe serving as lesson for them to find which is good and what is bad.

Quote from: Mahanton on March 05, 2020, 06:31:06 PM

Security does matter but people do still end up on using centralized platforms either they dont have any choice or just too dependent on it.Its just a matter of
risk management and awareness about particular risk.

Because bad element will always come to find ways taking our funds so that's why security are very important specially in this
investment that transaction mostly happens on line.
so the chance of being targeted is always in our doors.

Untomabur

member

Activity: 669

Merit: 10

Quote from: Mr.sprin on November 03, 2020, 08:49:00 AM

security in the crypto world is like a key, don't let the keys be found by others, everything can be taken, so it is very necessary to keep the security code so that it is not taken by other people.

but what happens now is that many keys have been stolen, as is the case in exchanges now,
if you are an exchange user then you must pay attention to the security of your account,
such as 2FA, or the password should not be spread.

PepeLapiu

jr. member

Activity: 58

Merit: 44

Quote

Tell me: What's your strategy to secure your funds?

Well, I do have to keep some of my coin on an exchange (Kraken) due to my little business model. But other than the coin I move around on a day to day basis, I store my coin on an offline wallet.
I just have and old smartphone with a wallet installed on it with the battery removed. And I only ever go online with it via a secure and encrypted VPN (ProtonVPN).

Topic: Why Security in Crypto Matters? (Read 1767 times)