Some Information About Cryptocurrency Security.

Discussion in 'Cryptocurrencies' started by Hsbr2858, Jun 27, 2020.

  1. Hsbr2858

    Hsbr2858

    Hello dear,
    Today i want to tell you about cryptocurrency security.
    When buying Bitcoin or other cryptocurrencies, proper security is essential. Perhaps you already have some sitting on the exchanges. However, we all know that exchanges are vulnerable to attack. Whats more, unless we control the private keys, the coins aren’t technically ours. In this guide we’ll take a tour through the options when it comes to securing cryptocurrency.

    Many cryptocurrencies, including Bitcoin, are non-inflationary. Once 21 million Bitcoin have been mined (around 2140), no more will ever be produced. Until then, their supply grows at a fixed and decreasing rate. Bitcoin is non-inflationary, decentralized, and unattached to any governing body. These properties make it a good store of value for those who don’t want to rely on central banks. We’re used to getting paid with our local currency, produced by a central bank, secured at a local bank. The security of our crypto-assets is entirely in our hands. That is a privilege granted by Bitcoin and its progeny. Besides the matter of reducing the trust required for securing currency and transactions, with the potential of blockchain and the many innovations it inspires — it’s easy to find a reason for owning cryptocurrency

    Password Managers
    The first thing we need is a password manager. Today, more than ever, these tools are a necessity. They are especially important for managing the keys to your wallets, as well as any exchanges or other crypto services. These tools can create and hold onto all of the long, complicated, passwords necessary to keep your assets safe. There are two different types of password managers: cloud-based, and local storage. They both encrypt your long and complex passwords making them accessible with one easy to remember password. Cloud-based managers make it convenient to access your passwords from any device. LastPass is cloud-based and the among the most trusted and widely-used password manager, despite having been breached in the past.

    Cryptocurrency Wallets
    There are five different types of wallets available for crypto: Web, Mobile, Desktop, Hardware, and Paper. They each have advantages and disadvantages. Generally speaking the most secure and private are the least convenient. Within each category, there are a variety of options; each balancing privacy, convenience, and security in their own way. Finding the proper wallet is a personal journey, it’s important to do your own research to find wallets that suit your particular needs. The information in this guide will help you to understand the security trade-offs when using each of these types of wallet. We’ll start with the most convenient \ least secure and work our way down.

    Two-Factor Authentication (2FA)
    Having a strong password is only one aspect of proper security precautions. There are often phishing sites that pretend to be a service you typically use for accessing funds. There are also password sniffers that can be hidden in software that you are tricked into using. An essential part of your security mindset should be suspicion towards any site asking for your credentials, even when it looks like the site you were heading to. Often the address of these sites are only slightly different than the site they are spoofing. Don’t forget about data breaches; several major web services have had their entire database of login credentials stolen, leaving millions vulnerable. Many users whose data became exposed still use the same or similar passwords for multiple services.

    Online Wallets and Exchanges
    These are cloud-based services, accessible from any device with an internet connection. Online wallets are the most convenient, and least secure way to store cryptocurrency.

    Hardware Wallets
    Hardware wallets such as TREZOR or Ledger Nano are a popular choice. These are USB devices that keep your private keys safe and inaccessible. You only connect them when making a transaction, and they don’t transmit your keys under any conditions.

    Paper Wallets
    A paper wallet in the simplest form is a physical copy of your public key (your address), and your private key stored on a piece of paper. These can be kept in a fire-proof safe, safety deposit box, or anywhere you would feel safe stashing a large wad of cash. Often, they will have QR codes printed on them, for easy input via a mobile device.

    Moreover, another important piece of information is to use this remarkable discovery of technology in the right way to protect your privacy. Accurate knowledge is required to protect one's privacy. Online you will find many websites that can give you various tips about this technology. However, not all websites are able to provide accurate information. There are some websites where you will find the right knowledge to protect your privacy with security. I will advise you Hide protection technology explained. (وأضح فاخفاء تكنولوجيا الحماية) on This site. On this site, you will learn about the many wonderful discoveries of current technology, as well as the security of your privacy.

    I hope you understand.
    Thank you.
     
  2. SunTrader

    SunTrader

    HomelyWizzard likes this.
  3. zdreg

    zdreg

    Sherlock,:)
    It was pretty ease to recognize since no one on ET has the ability to write that kind of prose.
    I run across this situation all the time. The failure to provide a link of an obvious copy is ridiculous or at minimum to ring the article with quotation marks.
     
    Last edited: Jun 27, 2020
    SunTrader likes this.
  4. Wow, he had me fooled!
     
  5. zdreg

    zdreg

    At least it didn't cost you money+you may have learned something useful.
     
    Hsbr2858 likes this.
  6. SunTrader

    SunTrader

    Yup, either they are ignorant (mostly I believe) or don't care but it is as easy as right-click select search. Bam!

    Of course we all search for the right word or the right spelling of the right word or phrase but to just whole hog post something done by someone else (with a hello dear intro, nice touch) no less without mentioning it is plain wrong. But that's the internet.
     
  7. maxinger

    maxinger

    copycat.

    anyway
    how will that stop cryptocurrency chief from going India to / and ... die?
     
    Last edited: Jun 28, 2020