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by Nate Urbas

Crypto Trader, Bitcoin Miner, Holder. 🚀🌑


Securing your wallet

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Site Rank: 2

Securing Your Wallet is a post under This post is important basically for your digital wallet rather than your digital assets. The theory here is; if your digital wallet is safe, then cryptocurrencies or digital assets in your wallet becomes safe automatically.

Transferring cryptocurrencies like Bitcoin from your wallet to anywhere in the world is very easy because you are in control of your own money, but what happens when you are not in control of your own money anymore? Hence, it is very important to make use of different legit practices in safekeeping of Bitcoin and your wallet respectively.

According to the article on Securing Your Wallet, you can take the following measures to avoid theft or fraud;

1. Avoid Some Online Services: There are some online services that pose as websites to help you store your funds online, be very careful of them. Don’t act out of ignorance because this is clearly a scam and a breach in security. Use legit Bitcoin wallets.

2. Use Small Amounts Everyday: For your everyday use, make sure you use small amounts of Bitcoin. The more you use Bitcoin, the higher it is you fall into the risk of scams.

3. Backup Wallet: Always backup your wallet to protect you against errors or issues. It reduces vulnerability of funds to theft.

4. Encrypt Wallet: Encrypting your wallet is one important thing to do to make sure your wallet is secure.

5. Other measures include; Use Offline Wallets, Update Software, Use Multi-Signature Features, etc.

Pros & Cons
  • Offers different ways you can protect your wallet.
  • Very easy to read and explanatory.