Secure your bitcoin wallet (Guide for beginners)

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Secure your bitcoin wallet:

Bitcoin is often perceived as an anonymous payment network.
But in reality, Bitcoin is probably the most transparent payment network in the world.
At the same time, Bitcoin can provide acceptable levels of privacy when used correctly.

Always remember that it is your responsibility to adopt good practices in order to protect your privacy.


Small amounts for everyday uses

A Bitcoin wallet is like a wallet with cash. If you wouldn't keep a thousand dollars in your pocket,
you might want to have the same consideration for your Bitcoin wallet. In general, it is a good practice
to keep only small amounts of bitcoins on your computer, mobile, or server for everyday uses and to
keep the remaining part of your funds in a safer environment.


Backup your wallet

Stored in a safe place, a backup of your wallet can protect you against computer failures and many
human mistakes. It can also allow you to recover your wallet after your mobile or computer was stolen
if you keep your wallet encrypted.


Backup your entire wallet

Some wallets use many hidden private keys internally. If you only have a backup of the private keys
for your visible Bitcoin addresses, you might not be able to recover a great part of your funds with
your backup.


Encrypt online backups

Any backup that is stored online is highly vulnerable to theft. Even a computer that is connected to the
Internet is vulnerable to malicious software. As such, encrypting any backup that is exposed to the
network is a good security practice.


Use many secure locations

Single points of failure are bad for security. If your backup is not dependent of a single location, it is less
likely that any bad event will prevent you to recover your wallet. You might also want to consider using
different medias like USB keys, papers and CDs.


Make regular backups

You need to backup your wallet on a regular basis to make sure that all recent Bitcoin change addresses
and all new Bitcoin addresses you created are included in your backup. However, all applications will be
soon using wallets that only need to be backed up once.


Encrypt your wallet

Encrypting your wallet or your smartphone allows you to set a password for anyone trying to withdraw...

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