In a world that is becoming less and less secure, more and more intrusive, and demand for your Bitcoins, and Bitcoin account information is always in demand, Bitcoin users need to be more and more vigilant in their security measures.The ethos of Bitcoin itself is to be your own bank, and you, as a personal bank manager, needs to be up to speed on the latest Bitcoin security measures. Are you using these seven steps to Bitcoin security? Here is a refresher to make sure you are properly securing your precious Bitcoin in 2017 and beyond.
Offline or Cold Storage
The absolute safest way to protect your valuable Bitcoins is to take them offline, altogether. This can be done with a paper wallet, but a hardware wallet is much more convenient, and the competitive market is driving down prices. You can now get a Trezor or KeepKey for $99 USD, and there are more options upmarket if you want to add more security features and options. Online keep Bitcoins in online wallets that you are comfortable losing to hacking or embezzlement. Many popular online wallet providers like Coinbase and Xapo offer this option as well.
Two-Factor Authorization (2FA)
Fairly straight forward security feature. Your wallet should have more than one security protocol to access your Bitcoins, where it is Google’s Authenticator or a rolling code you type into to access the account, make sure your wallet has 2FA available and activated at all times.
Keep an offline file of your passcodes, mnemonic seeds and PINs
Trusting everything to your mobile phone or computer is risky, with theft, hackers and viruses always lurking in the weeds. If you have any considerable amount of Bitcoins, write down all of your log-in credentials in an offline notebook, or even put this information in a safe deposit box. You can’t put cash or gold in these boxes anymore, but you can secure something even more valuable.
Use a Private Email Service
Over the last few years, encrypted email providers have started to pop up and add a layer of privacy to the online world in light of the surveillance many popular email systems and apps have suffered. Tutanota, Protonmail and Open Mailbox are good places to start if you want better privacy and end-to-end encryption. If you are your friends want to send Bitcoins to each other, you can share your Bitcoin keys, and Bitcoin intentions, through fully encrypted services like these.
VPNs or Virtual Private Networks
Something I have used for years and a really under-utilized service, using a VPN provides many benefits to any online user, including Bitcoin users. You can choose a faster server or a country with less online surveillance. They have hundreds or even thousands of servers to choose from and millions of IP addresses you can switch from every hour if you like. Most can be had for less than $10 USD a month, and many also accept Bitcoin, like BitMyAss.com, which works with the VPN market leader, HideMyAss.com.