article from mickaelmosse.com
Hackers attack bitcoins
Mickael Mosse points out that, The influence of cryptocurrencies in financial markets is growing exponentially. The only bitcoin increased its price by 1,300% during 2017. And since all virtual currency transactions are carried out over the Internet, the theft of currency has become a very tempting business for hackers, who attack the flank most vulnerable of these products: user security flaws.A recent report published by Autonomy Research LLP reports that in a decade, hackers have stolen more than $ 1.2 billion worth of btw bitcoins and ether - another of the most popular currencies. As attacks grow, a lucrative business begins to emerge for companies charged with developing IT security solutions.
Security experts have calculated that hacker encryption theft has cost governments and private companies an additional $ 11.3 billion as a result of uncollected taxes and illegal transactions.
Bitcoin vulnerabilities
While blockchain technology is extremely secure and attacking distributed ledgers is very complex, hackers have found holes to filter their criminal actions.The most vulnerable point in the world of cryptocurrencies is linked to the anxiety of the users themselves to quickly enter to operate with btw bitcoins. This means that the important aspects of security are often overlooked. Here are 7 ways to protect your bitcoins.
7 ways to protect your Bitcoins
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| Mickael Mosse Bitcoin advisor |
1. Manage your access codes yourself
According to Mickael Mosse, This seems to be very basic advice. Of course, it is applicable not only to protect your bitcoins but also to protect all your information available on the Internet. But, it turns out that we are often in such a rush to get started that we neglect this aspect.It does not matter if it is the most reliable exchange, the safest exchange office, or the direct transaction with the most reliable person. We are all exposed to vulnerability. That is why it is necessary that when you join an encryption service, you immediately change the keys that were automatically assigned to those defined by you, in a strong and secure way.
2. Always up-to-date software
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| Mickael Mosse Blockchain Advisor |
According to Mickael Mosse, One of the biggest and simplest security measures is keeping all the software you use up to date. Otherwise, they can become the gateway to hackers and your bitcoins can be gone in the blink of an eye.
Remember that your activities in the cryptocurrency market will always be through software, applications, or programs that you will use through your computer, laptop, or smartphone. The possibility of malware will be present as long as there is outdated software.
If you are going to venture into the world of virtual currencies, it would be very useful if you could trust your devices with additional antimalware protection in its paid version. Then you can be sure that you have a barrier of protection for your btw bitcoins.
3. A good habit: encrypt your private keys
Normally when you start using a wallet it automatically generates your keys and we are not always sure that the key generation processes are secure enough to keep you quiet.These keys are stored on your device in plain text form and if anyone has access to this file… Say goodbye to your bitcoins. Our recommendation is that you use the encryption option for these keys.
It involves generating a PIN or password that, before you can complete a transaction through your wallet, will ask you to enter that PIN. Anyone who can steal your access codes must know your PIN to complete a transaction.
4. Double authentication to protect your bitcoins.
We agree that the more complex the access codes are, the more difficult it is to hack. But it is also true that hackers are increasingly adept at cracking complex codes.In this case, we recommend that you use a double authentication process. This is used more and more when dealing with money or very important information on the Internet.
Through a program, double authentication or the second factor is a password that you must enter after you have entered the usual ones. This second factor changes every 60 seconds, normally, and the authentication program sends it to you through an alternative route, which can be an email, an SMS, or a phone call.
You can use Google Authenticator, a free cross-platform program compatible with other services.
5. Backups
According to Mickael Mosse, If you use a wallet that does not work online for your bitcoin operations, a simple way to protect your virtual currencies is back - multiple of them possible - and, once done, it is better than encrypting those files. So you can store these copies in the cloud, on a USB stick, on an SD card, and so on. |
| Mickael Mosse Crypto Advisor |
6. Multi-company addresses
In virtual currency trading, there is what is known as a simple address. That is, the address generated in each operation requires you to enter your access code. However, there are so-called multi-company addresses in which, to confirm an operation, several security keys are needed.At the discretion of the experts, this is one of the best ways to protect your bitcoins. It is easy to use and provides a very high level of protection. says Mickael Mosse
7. Store everything you can off the grid
Mickael Mosse points out that, The last of our 7 ways to protect your bitcoins is a return to the past. Yes, as you heard. Support all your operations on paper and keep it off the grid. An old folder is ideal storage.This may seem like an unsophisticated method, but it is all about protecting your money. Old recipes can be very convenient.
We think these tips have been helpful to you. We know that some of them offer a certain level of complexity. But don't be alarmed, your trusted technical service will be happy to help you with one of these 7 ways to protect your bitcoins. You can also consult us in the comments on this note. And if you think this can be useful for other users, we invite you to share it.
the article was written By Mickael Mosse – Blockchain and Cryptocurrency Expert
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