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Strategies to secure your bitcoin in digital wallets

Strategies to secure your bitcoin in digital wallets
For all the newbie’s who are just getting into bitcoin landscape, you need to know that bitcoins are not a just a buck. You are responsible to keep your bitcoin or another cryptocurrency safe and secure in your digital wallets.
Digital wallet as the name indicates resides in mobile and computer device while securing them with the private keys or paper wallets. Wondering how secure these wallets? Following are some prescribed way that can help you secure your wallets from, device malfunction and hacking issues.
Offline mode: offline mode is also known as a cold storage wallet. These wallets as the name suggest are not connected to the internet and thus are less prone to the cyber threat. These cold storage wallets are suitable for those who wanted to store a large sum of bitcoin while, ensuring security from hacks. The most popular offline methods to hold bitcoin are paper wallet, sound wallet, hardware wallet and storage wallet.

Backup your bitcoin:


 This is one of the best approaches that can keep your bitcoin secure in case, if anything goes wrong. Backup your wallet quite often so that in worst cases, these backup data will help you recover the currency back in your wallet.
Software update:
Digital wallet running on non-updated wallet are more venerable to hacks and cyber threat, so it is recommended to update your wallet software early and often, as an updated software offers great security to your bitcoin.

Encryption:


 Encryption keeps your wallet secure from unauthorized access. Encrypting wallet will ensure your security using a password to access a wallet. However, Make sure to create a strong password using the capital letter, special character and numbers to form a good security layer for your wallet.

Secure your digital wallet:


 Bitcoin is a virtual currency that is not backed by the government and created through computer code, this is why they are more prone to there and breeches for long. However for bitcoin to embrace more security and reliability, it is necessary to keep a hold on these security and proactive backup approaches mentioned above. For beginners who are still confused how to secure wallets, we at blockchain developer, one of the leading South Africa bitcoin exchange platform are ready to assist you in understanding everything you need to know on bitcoin trading in South Africa.




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