....

How To Protect Bitcoin From Hackers

The ever-growing demand and highest volume in day to day trading in the emerging markets made Bitcoins one of the most fascinating and profit gaining digital currency across the globe. Its significant potential in growth proved it one of the highly reputable digital currencies throughout the world. In recent years it’s revolutionary growth and increasing demand made it a kind of universal currency and therefore digital currency analysts and technical experts have started calling this supersonic and rapidly growing currency“The Currency of Future”. Keeping in view its Bullish Trend, and tremendous increase in demand opened a way of controversies about its safety and secure storage as the cyber world has developed much, The digital hackers or the experts of cyber crimes have also shown their advanced expertise to steal the assets of Digital currencies. Therefore the BTC holders are focusing much on its. How to store cryptocurrency offline with bitcoin secure storage on paper official technique to protect bitcoin from hackers. Use best crypto wallet hardware device.

....

Safety and secure storage for a longer period.

One of the primarily and frequently asked questions "How To Protect Bitcoin From Hackers?." certainly there is no one size fits all solutions, but anyways in this piece of writing, we shall try our level best to provide and educate you with the maximum use and result oriented tips and information which one can easily exercise to avoid any misfortunate incidents and loss. We shall also highlight the possible hacking threats, their mechanism, and levels. The incidents of hacking have been around since the use of the internet surprisingly increased. The first incident of computer password exploitation was reported around 1965.
How much has been stolen or lost so far .? Below mentioned figures can simply explain.

  • DAO, around $52 Million
  • Bitfinex,around$72 Million
  • Parity, around$30Million
  • In the most famous incident Mt.Gox the estimated stolen amount was around$460 Million.
  • Coincheck incident lost around$530 Million.
  • Yes this is a fact, an estimated total amount that has been lost or theft so far is around $1 Billion.

....

Strategies used by the Hackers and other cyber players to conduct a cyber attack.

Undoubtedly, It has become imperative now to figure out the tactics and strategies used by the Hackers to steal the Cryptocurrency assets quite efficiently. Unless these techniques are spelled out in an approachable way, obviously no one can get rid of these dangerous traps. After reading this article, we assure you that one can easily stay at a safe distance and can simply avoid any major loss of his/her cryptocurrency assets.

....

Never compromise over private and confidential information.

Please stay informed that sharing your credentials or managing them in an unorganized way can cost you a fortune. What happens actually?. Whenever someone carelessly manages his/her private and confidential private keys, that function as a password of the ATM of your Bank account, hackers can get an easy approach to your funds. Some recent incidents of hacking clearly indicate, not to share or discuss your credentials with anyone.

....

Act of Phishing Attack is deadly dangerous:

A phishing attack is a kind of cyber attack in which scammers develop almost the same website the one frequently used by Cryptocurrency holders. Because the same look of the real one convinces the customers to operate their wallets through their fabricated fake sites URL. As all the required private and confidential pieces of information are entered, they are automatically stored, and the way to get access to your crypto assets is open and straight. Your funds can now easily transferred from your wallets to anywhere in the world. As told earlier these cyber players are quite clever and efficient, the fake website will provide the maximum users/account holder information to avoid getting detected. So, always stay vigilant and updated about any change in the websites, being used as an actual one.

....

The possible threat of Phone Porting techniques:

Very simple to understand or you might have experienced the same ever in your life. This strategy works in a way, the scammers or the hackers make a simple call at your mobile and try to convince you to change your phone network by simply providing them your name, maiden name, date of birth, address, and any secret information used to access your bank accounts or other financial assets. As this information is provided without any authentic verification then your time is over and the gateway to your financial assets is under the control of hackers.

....

The threat of $5 wrench attack cannot be ignored:

This Wrench attack strategy is old but works effectively to some extent. Just imagine, if you are hijacked or kidnapped for some time. The hijackers force you to provide them all of your private and confidential details like the private keys of your crypto wallets on gunpoint, what would you do? No option left instead of fulfilling their illegitimate demands.

....

Famous Copy Paste Strategies:

Now you folks would be thinking that, what is that copy-paste technique, well this strategy is quite famous and widely used by cyber players globally. In Fact, these are Malware programs that are installed into your desktop, laptop, or your hand sets without your knowledge. These malware programs can then simply replace the copied btc wallet address and your credentials with their own, resulting in you unwillingly submitting crypto assets into their desired wallets.

....

Protecting BitCoins from hackers and digital thieves:

We hope, now you will have a clear and thorough understanding of all the possible threats and expected cyber attacks to your crypto assets. So this is the time to Rest assured, all is not lost. It is a well known saying that never put all of your eggs in just one basket, because this is not a kind of wise decision and if it occurs then we can simply pray for you, nothing else

....

Always make multiple Wallets for multiple tasks:

Making multiple wallets for different needs is a kind of wise decision, keeping your crypto assets somewhat safe and away from the approach of digital thieves. For instance, you are supposed to make some hot wallets for your everyday use or trading, in these hot or online wallets, a limited amount of cryptos can be stored, however, you must make some cold wallets like paper wallets and hardware wallets to store the heavy amount of your crypto assets. As mentioned earlier these hot or online wallets are any easy approach to manage your routine matters and in case if the private keys of these hot wallets are leaked by any means, resultantly you might only face a little loss of your crypto assets unlike keeping all eggs in one basket. Adding up more in the discussion of possible threats and hacker attacks following are the suggestions, can protect you well against all the above-mentioned security threats.
a)Always prefer to store your cryptocurrency tokens in hardware or go for the paper wallet option.
b)After storing the crypto token in the hardware and paper wallet, now the time to securely save these wallets in a place where you think, can only have access. This methodology will certainly protect your digital assets according to your wishes.
c)Always try to place your private and confidential keys in either form away from your wallets, this can be your bank safe deposit box, the locker of your bank account usually used to store your valuables like gold and diamonds.
d)Another safety measure is to keep a limited amount of crypto assets at any exchange which can simply cater to your everyday requirements.
e)Always pay close attention to your web browsers and try to use trustworthy bookmarks in your web browsers to approach your exchanges or digital currency service providers.
f)Prioritize to implement multi-factor authentications with one form of authentication from an offline token generator like google authenticator.
g)The concept of multi-signature authentication is no doubt superb, it always rules out the chance of any theft or cyber attack. It involves the signature of three to four persons to successfully complete any digital transaction.
h)Another important safety initiative is not to discuss publicly your crypto assets, the nature of your wallets, the basic structure of your public and private keys.
i)Make it your habit, if you are somewhere in the world of cryptocurrency, always make double checks of your wallet address after pasting and providing to someone else through email or text messages. Always send an image of your wallet address instead of typing and texting to verify the correctness.

....

How safe is Coinbase Wallet and how to avoid being Hacked:

No doubt, one of the highly protected and secure wallet service providers. However, the question about coin base wallets security and safe storage then only for your kind information.
The company has tried its best to provide the maximum security features using the latest digital security technologies ruling out the fear of theft and cyber attacks. If anybody thinking is coinbase safe wallet is safe, so please note down it is frequently referenced as one of the safest and best hot wallets in the industry of digital currencies. As personally observed while accessing the wallets via coin base it always demands two-factor authentication or multiple signature verification processes. The registration process is not tricky and complicated, All you need to do is download the coinbase app on your android or ios device and provide the credentials when it is asked.

....

Last but not least

The above-explained list is not necessarily meant to be the final words, but hopefully, it helps to explain what types of security practices can be exercised in order to safeguard against theft or any digital robbery. It is a well-known phrase that history always helps to make future decisions therefore today's discussion will certainly benefit you against your reservations and growing concerns about the safe and secure storage of cryptocurrency assets. Whereas the foolproof security of your BTC Holding is concerned, we would simply quote a famous phrase” prevention is better than cure”.

....

Your valuable feedback:

Your valuable feedback is always welcomed and we appreciate you staying in touch with us about our services and products. If you folks have ever gone through the experience of storing your BTC holdings either through Hot or Cold Wallets or you have faced any type of hackers threat, we would appreciate having your personal comments on it in our comments section.

 

how to secure and protect bitcoin from hacker

Bit coin secure storage wallet types and protection options

most secure way to store cryptocurrency offline