How complicated! to save bit coin with fraud

admin | May 22, 2019 | 0 | Finance

Possibly, at this moment, you have something in your mind like: “Is it really that complicated? Do I have to have all this in my head to have bit coins? “

Everything depends on how serious you want to take the security of your bitcoins. Possibly more bit coins want more security.

online bettingOur recommendation is to start with the simplest. If you are going to store a couple of hundred Euros, do not get too complicated: use a lightweight HD wallet on your computer (Electrum) or mobile phone . Make a backup copy of the seed, circle it if you wish and keep it well. Finally, protect the wallet with a pin or password. With this, you have something fairly safe as long as you do not have the infected device and it is a simple process that does not take more than 3 minutes to complete

Make backup copies

  • If you use a wallet that is not hosted in an online service, it is convenient to make different backup copies stored in different places.
  • Once you have made these copies, encríptalas with other services to make them virtually incorruptible like these.
  • You can save the copies in cloud storage services, pen drives, SD cards, etc.
  • Do you wear an HD wallet? You only need to make a backup of the seed (You can do it at any time). Once done you forget about any other backup.
  • Do you use a wallet 1 bitcoin that is NOT HD? You should make a backup for almost every transaction you make. If you do not know what an HD wallet is, we recommend going back to the How to store bit coins chapter  (you may decide to switch to one of this type)
  • Having backups is always important, and more for your money, but it is also important to take care of them. I guess you do not want to be like who threw away a hard drive with 7500 bit coins (which came to be worth almost $ 8 million) and is still scouring garbage dumps in his country to try to locate it.

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