Bitcoin Security

As with any finances security is of paramount importance, more so with bitcoin considering its nature as a digital asset. When using online banking there are several steps to go through for security purposes. Bitcoin is a little different but the principles are the same. Many people choose to leave their bitcoin on an exchange in a hot wallet and let them handle the security side of things and the private key. This is not always the best idea for those holding a lot of bitcoin since exchanges can and do get hacked on occasion. Other options for bitcoin security include cold wallets which are disconnected from the internet. These are far more secure but the user must be responsible for both the public and private keys and the physical hardware. There are other things to be aware of regarding bitcoin security such as taking care when copying BTC addresses. There has been a lot of malware lurking around recently which alters copied wallet addresses or poses as a genuine crypto application to compromise security. We have a number of cyber security specialists at Bitcoinist who are constantly on the alert for the latest scam, hack or security vulnerability which we will report to keep you and your bitcoin safer.