What Are Bitcoins And How Do They Guard Against Hackers?

//What Are Bitcoins And How Do They Guard Against Hackers?

In January 2009, a man under the pseudonym Satoshi Nakamoto launched Bitcoin, an innovative digital currency that entered the world of the internet as digital money, creating a chain of blocks, similar to an accounting book public, where all the transactions are recorded and verified by a massive and decentralized computer network.

In other words, it is a crypto-discourse, a digital medium of exchange that is characterized by being decentralized, which means that it is not backed by any government or dependent on trust in a central issuer.

During the last few years, the value of this crypto-currency has grown exponentially. In 2011, a Bitcoin was bought at 12 dollars, while, at present, the same unit can be found at around thousand dollars.

Historical behavior of Bitcoin

The appreciation has managed to capture the interest of many people, among them the hackers. If you are one of the millions of people who are using this cryptocurrency or you, have thought to start using them, use some tips to protect your digital money in a way intelligent and uncomplicated.

Cold storage

This practice is an excellent way to keep thieves out of your digital assets. It’s about keeping your bitcoins out of line and therefore out of danger. A feature of the digital currency is that you can store it offline using hardware wallets and other protected media. If you do not use your “coins” consistently, save them in this way, hackers will not be able to rob them because they are not on the open web.

Backups

The service guarantees privacy and part of your security consist of robust password phrases and PIN numbers to access the accounts. It sounds obvious, but you need always to make copies of these details. It is extremely important that you write them down in a medium that is not exposed to the Internet and therefore vulnerable to theft or known to others.

Learn about security and privacy of the web

There are several methods of protection that you can use in the line of crypto-currencies. For example, a practical exercise is to look for yourself on the Internet. The more you appear, the more your fingerprint or digital profile is likely to be tracked, copied and used. There are many companies, entities, and online experiences that offer services to safeguard your valuable information and reduce risks in the face of a possible computer divide.

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By |2018-05-09T04:43:39+00:00May 9th, 2018|Tips & Tactics|1 Comment

One Comment

  1. Daniel Ogeto O May 15, 2018 at 7:53 pm - Reply

    Indeed, there are many ways to skin a cat, very interesting and innovative approach to security right here. Digital technology as inspired lots of creative Ideas with many innovative startups catching up with the times through such innovative solutions. One common crime that’s carried out on cryptocurrency investors is the phone-porting attack. Hackers snoop around social media, looking for cryptocurrency conversations in which investors post their phone and email for easy contact. Then, posing as the victim, they call up the phone provider in an attempt to fool the customer service representative into transferring the phone number to a device they control. In the age of cryptocurrency, hard drives and personal computers have become the new bank vaults. And our real-world knowledge of protecting money from theft is not enough in the virtual world. The first order of business should be to protect yourself against… yourself. Avoid typing Bitcoin addresses manually when sending or receiving payments. It’s very easy to mistake an “0” for an “O,” a “1” for an “I,” or to miss and displace characters when typing in an address. Use QR codes when available, or copy and paste addresses when making or receiving payments.

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