Security Tips for Beginner Bitcoin Users

April 14, 2021

If you are new to the world of bitcoins, there are certain security tips by Crypto Code that you need to follow if you want to have safe and secure bitcoin transactions.

Use different wallets

Well, there are different types of bitcoin wallet that you can use. Most people just use a single wallet to keep their bitcoins. This is the biggest mistake you can make. Try to use different wallets to store bitcoins. Diversifying the bitcoin in different wallets will enable you to keep your costly digital currency safe and secure. Do you carry all your money when you go out of your home? If not, why do you keep all bitcoins in a single wallet? If you want to keep your bitcoins safe and secure, it is highly recommended to use different wallets to keep different amounts of bitcoins.

Strong password

In the era of the digital revolution, all our digital devices are password protected. The same goes for your bitcoin wallet. Just having a bitcoin wallet is not enough to keep your bitcoins safe. You also need to keep your bitcoins safe from attacks by hackers and spammers. 

Use a strong password for your bitcoin wallet. Make sure that your wallet should not include any numbers and characters related to your personal life. Many people use their name or date of birth while selecting the wallet password. This is the worst mistake you can make. Try to have a strong password that does not include anything related to your personal life. If you don’t keep a strong password, you may be inviting hacking and spamming. 

Two-factor authentication is a must.

If you care for the safety of your bitcoin, it is also important to enhance the security of your wallet by making use of two-factor authentication. Try to use two-factor authentication for all levels. When you use the two-factor authentication system, you will need to fill up OTP every time you want to get access to your bitcoin wallet. The best part of using two-factor authentication is that there are very little chances that anyone will be able to get access to your bitcoin wallets. 

Don’t keep bitcoin in exchange.

Another mistake that most beginner level bitcoin users make is that they keep all of their bitcoins in the exchange. No matter what, the exchange has the responsibility to keep your bitcoin safe. But, in case the exchange gets hacked, there is no way possible that you will get back your bitcoins. When you are keeping all your bitcoins in the exchange, you are basically inviting hackers and spammers to steal bitcoin from your exchange. Thus, make sure to use the bitcoin exchange wisely.

Hardware wallet for saving

If you don’t want to spend the bitcoins you have, for the time being, you can use the hardware wallet for saving purposes. Ask any bitcoin investor, and they will tell you that hardware wallets are the perfect way to store bitcoins safely. The best part about hardware wallets is that it is not connected to the internet. Thus, there is no way possible that hackers or scammers will get access to your wallet.

In case you want bitcoin for everyday use, try to keep a certain amount of bitcoin in the mobile wallet and the remaining amount in the hardware wallet. Till not, no incident about the theft of bitcoin from the hardware wallet has been reported. Thus, if you want to store bitcoins for a long time, nothing can be as good as storing them is the hardware wallet.

If you have never invested in bitcoins, and this is the first time when you are just starting with the investment, try to keep all these safety tips in mind. These security tips are equally important for beginners as well as pro bitcoin users and investors. Keep all these safety tips on your fingertips before you start the investment. 

So, follow all these tips and let us know if these tips helped you or not. You can get more such tips at the Immediate edge platform. Let us know if you want more safety tips for bitcoins. We will be more than happy to help you with keeping your bitcoins safe and secure.

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