The world is full of technology, and the best thing is that this technology is evolving continuously. one of the best things that technology has given to the world is a digital currency. Before 2008 no one would have the idea that there can be a digital currency that can be used for many purposes. But in the year 2008, Satoshi Nakamoto created bitcoin, and he proved that there could be a digital currency and the features of this cryptocurrency are astonishing.
The value of bitcoin has been increased to a very high level, which is all because of its widespread use. You will be glad to know that bitcoin is used by people from all around the world despite its higher level of volatility. People have faith in this digital currency, so its popularity is way higher than the other kind of cryptocurrencies in the world. Well, you might have heard of the thing that bitcoin is operated on the blockchain, which is a very advanced technology, and hacking it is impossible. You can get more information about bitcoin trading on altcoinsidekick.com.
But there can be a risk while you purchase the bitcoin to sell the bitcoin as you will need the help of bitcoin exchange for it. You should make sure that you are buying bitcoin from the best bitcoin exchange, which is able to offer you the best kind of security. Another thing that you should not forget is that you should always secure your bitcoin in the bitcoin wallet. If you don't want your digital currency to get hacked, then there are several steps that you can take in order to provide more protection to your bitcoin. If you want to know about them, then have a look.
- If you want to prevent your bitcoin from getting hacked, then you should make sure that you are setting up a very strong password for your bitcoin wallet. We all know that if any account contains your personal details, then you need to secure it with a password that cannot be cracked very easily. this is highly recommended to you that you always secure your bitcoin wallet by setting the complex password for it. You need to know that your password must consist of at least 16 characters. The one thing that you should avoid is setting a password that is based on your personal details like your date of birth etc. These are the things that can easily get cracked, so better to avoid such passwords.
- Another step that you can take for protecting your bitcoin is by enabling two-factor authentication. This is one of the best features of the bitcoin wallet that help in adding an extra layer of protection to the bitcoin wallet. Some people think that enabling two-factor authentication is really a very hard thing, but it is not at all like the way people think. The only thing that you will have to do for enabling this system is by visiting your account on the bitcoin exchange and then go to the "settings". In the setting, you will find the two-factor authentication feature which will come to use while making the transaction.
- It is important for you to understand that all the bitcoin exchanges are open source which means they are not good for securing your bitcoin. So, the best thing that you can do is remove all your bitcoin from the bitcoin exchange. We don't know about the level of security that the bitcoin exchange is offering. So, if you don't want your bitcoin to get hacked or lost, then you should not waste any more time in thinking and take all your bitcoin off from the bitcoin exchange.
The one thing that you should know about bitcoin is that it should always be kept on the bitcoin wallet. These are the wallets that are designed for securing your bitcoin in the best way possible. The cold storage wallets are the ones that are not connected to the internet, and that is why they are less prone to the risk of hacking. On the other hand, the hot bitcoin wallet is the one that is always connected to the internet, so the risk of hacking is high in hot wallets. If you want to get the bests security, then investing in the hardware bitcoin wallet is the best option for you.