5 Facts That Will Save You From Losses
So you got yourself a couple of Bitcoins and trying to find a way to keep them safe? As you know, you wouldn’t carry all your life-savings in your wallet. It may seem complicated to protect your Bitcoin wallet, but if you follow this guide – you will be able to keep your virtual coins secure.
If you can’t tell the difference between a beer holder to your cd-rom, you should stay away from bitcoins!
We know, cryptocurrencies are not really user-friendly yet, but this is why we are here. There are a lot of companies out there working on making crypto to be easy even for my grandmother, but we haven’t reach those days yet. If you think that it is too much for you to handle – all those “securities” to protect yourself and your Bitcoins, you probably should not own them from the start.
Your computers and phones don’t matter, it is what you create with them that counts.
Look, the last thing we are willing to do is to disrespect your hard-earned devices. But our point is that Hardware and Software are replaceable, but we can not say that same about your Data – Once you lose it and you got no backup – Its gone.
No more mobile Wallets!
Mobile wallets are great to store small amount of money, When we are talking about small – we mean up to $200. I will repeat. Do not use your mobile as your primary storage. If you lose your phone or it gets hacked – your hard earned money is gone forever. Do you guys remember the time when mass naked pics of celebrities showed up online because many mobile phones were hacked? Don’t make the same mistake with your money.
Andreas Antonopoulos, the famous crypto-entrepreneur and the author of the amazing book – Mastering Bitcoin said “nothing teaches someone about security faster than having their Bitcoin on a Windows machine.” In other words, as soon as someone hacks your Mobile / Desktop wallet and steals your entire Digital Money, only then you are going to get really interested in securing your Bitcoins, Don’t let it get to that!
Dont panic – now it is time for some good news
Your first wallet choice should be a hardware wallet. Yes it has a small price, but after you will purchase your first hardware wallet – you will feel secure. We receive more and more complaints from people who have lost their Bitcoins because they had no clue how to secure themselves, luckily you are able to avoid the same uneducated decisions.
Hardware wallets are good for one reason – they are the most SIMPLE way to secure you Bitcoins. If you are looking for cheaper solutions, of course you can get yourself any USB stick, and store your data there using encryption. If software as Veracrypt and TrueCrypt are new to you, you can save yourself a lot of time but just getting a hardware wallet.
Conclusion! Take your digital money seriously
Having Bitcoin may empower you. Having the ability to control you funds, but as we all know – it comes with responsibility. Anyone who has lived through a financial crisis got his lesson the hard way. Being in a position where you can not take your money out of your bank is probably the last thing we all want. Always remember – as long as you are not learning about how to Secure your Bitcoins, you are a target.
You might think you own it, but you don’t. If you will keep it in the bank – the bank owns your money. Keeping your Bitcoins in an exchange? the exchanges owns your Bitcoins. This post is not about giving you financial advice, we are not financial advisers and it is not meant to tell you where to keep your money. Open your eyes – research, you are grown ups and we hope we’ve added value helping more people make more educated decisions!
And if not? A CD-ROM can also work as a beer-holder! Stay Wise!