January 27, 2017 at 13:19Useful reminder: how not to lose bitcoins in 2017:
- Transfer
Getting bitcoins is becoming easier - it’s much harder to save them from hackers, bursting exchanges and simple loss. These eight simple tips will help you feel more confident about your safety in the new year - especially now that they are so expensive again.
1. Do not postpone backup. There are
no too many reminders to make a backup. If you don’t have it yet, do it before you read this post.
Most hardware and software wallets use a protocol standard called BIP 39, according to which a backup is a combination of 12, 18, or 24 English words.
The main thing is that these words are written on paper and stored in a place protected from strangers, water and fire. Losing an unsecured wallet means losing your bitcoins. Irrevocably.
2. Check your backups
? Check them from time to time.
Is your piece of paper with backup words still at hand? Is everything readable? Will they not be stolen from there, wet or burned there? If you transferred your backup to someone else (lawyer, accountant) - ask him to store them in a safe.
3. Set up a reminder
. You need to check the safety of your backup regularly - but in practice it's easy to forget about it. Therefore, it is easier to post a reminder in the calendar to double-check them every 3, 6, or, most rarely, 12 months.
4. Do not keep money on your phone
With the rise in the price of bitcoin , you yourself may not notice how much money is stored on your mobile wallet if you use it.
It's time to transfer your bitcoins to a hardware wallet or offline. Hardware wallets are very easy to use, quite user friendly and are considered one of the safest ways to store crypto.
Of course, it’s quite convenient to keep a certain amount of money and pay it from your phone, make it a rule not to store more bitcoins on it than you would take cash in your wallet.
5. Withdraw your money from the exchanges.
If you have a crypto that rotates on the exchange, then withdraw it immediately to the wallet you control.
Most popular exchangers merge bitcoins into a common portfolio, and although you see the “balance” of your account, you do not really control the keys. If the exchange is hacked, then you can lose everything. Remember that control of your crypto means control of keys: "not your keys - not yours and coins."
6. Enable two-factor authorization
Use two-factor authorization in all Bitcoin-related accounts and other important accounts. The best option for two-factor authorization is a hardware token , which you can buy for only $ 20– $ 30.
Or use the atorization app on your smartphone - for example, Authy or Google Authenticator. SMS is the weakest option for two-factor authorization in the list, but still it is better than nothing.
7. Use a password manager.
People are very good at distinguishing between patterns, but mistreating accidents. While the best strategy for passwords is to choose a new random password each time for any site without writing anything down, which makes it difficult to manage them all.
For most people, the only way to achieve this is to use a password manager that generates and stores your passwords on various devices. Popular managers are well known to you - 1Password, LastPass, open source KeePass, etc.
Most of them offer a free basic set of services and additional features for a fee of up to $ 80 per year. They are easy to operate and in just a couple of weeks you will get used to them so much that you will never refuse them again.
8. Think about loved ones.
If something happens to you tomorrow, can your loved ones get access to your bitcoins? To take care of this question, you have to worry about this question - but it's worth it.
Making a plan, writing down instructions and telling your loved ones about them won't take more than an hour.
Be sure to consult with a lawyer so that your plan does not conflict with local laws and cannot be challenged in court. If you have a will, trust or other asset management plan, notify your lawyer of the need to include cryptocurrency in them. ( Or just tell me where to find a piece of code words if you live in Russia - approx. Per. )
1. Do not postpone backup. There are
no too many reminders to make a backup. If you don’t have it yet, do it before you read this post.
Most hardware and software wallets use a protocol standard called BIP 39, according to which a backup is a combination of 12, 18, or 24 English words.
The main thing is that these words are written on paper and stored in a place protected from strangers, water and fire. Losing an unsecured wallet means losing your bitcoins. Irrevocably.
2. Check your backups
? Check them from time to time.
Is your piece of paper with backup words still at hand? Is everything readable? Will they not be stolen from there, wet or burned there? If you transferred your backup to someone else (lawyer, accountant) - ask him to store them in a safe.
3. Set up a reminder
. You need to check the safety of your backup regularly - but in practice it's easy to forget about it. Therefore, it is easier to post a reminder in the calendar to double-check them every 3, 6, or, most rarely, 12 months.
4. Do not keep money on your phone
With the rise in the price of bitcoin , you yourself may not notice how much money is stored on your mobile wallet if you use it.
It's time to transfer your bitcoins to a hardware wallet or offline. Hardware wallets are very easy to use, quite user friendly and are considered one of the safest ways to store crypto.
Of course, it’s quite convenient to keep a certain amount of money and pay it from your phone, make it a rule not to store more bitcoins on it than you would take cash in your wallet.
5. Withdraw your money from the exchanges.
If you have a crypto that rotates on the exchange, then withdraw it immediately to the wallet you control.
Most popular exchangers merge bitcoins into a common portfolio, and although you see the “balance” of your account, you do not really control the keys. If the exchange is hacked, then you can lose everything. Remember that control of your crypto means control of keys: "not your keys - not yours and coins."
6. Enable two-factor authorization
Use two-factor authorization in all Bitcoin-related accounts and other important accounts. The best option for two-factor authorization is a hardware token , which you can buy for only $ 20– $ 30.
Or use the atorization app on your smartphone - for example, Authy or Google Authenticator. SMS is the weakest option for two-factor authorization in the list, but still it is better than nothing.
7. Use a password manager.
People are very good at distinguishing between patterns, but mistreating accidents. While the best strategy for passwords is to choose a new random password each time for any site without writing anything down, which makes it difficult to manage them all.
For most people, the only way to achieve this is to use a password manager that generates and stores your passwords on various devices. Popular managers are well known to you - 1Password, LastPass, open source KeePass, etc.
Most of them offer a free basic set of services and additional features for a fee of up to $ 80 per year. They are easy to operate and in just a couple of weeks you will get used to them so much that you will never refuse them again.
8. Think about loved ones.
If something happens to you tomorrow, can your loved ones get access to your bitcoins? To take care of this question, you have to worry about this question - but it's worth it.
Making a plan, writing down instructions and telling your loved ones about them won't take more than an hour.
Be sure to consult with a lawyer so that your plan does not conflict with local laws and cannot be challenged in court. If you have a will, trust or other asset management plan, notify your lawyer of the need to include cryptocurrency in them. ( Or just tell me where to find a piece of code words if you live in Russia - approx. Per. )