What is your best Bitcoin Security practices?

From bitcoin.org:

Like in real life, your wallet must be secured. Bitcoin makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money. Such great features also come with great security concerns. At the same time, Bitcoin can provide very high levels of security if used correctly.Always remember that it is your responsibility to adopt good practices in order to protect your money.

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Source: https://bitcoin.org/en/secure-your-wallet

Use a hardware or paper wallet to keep your Bitcoin in an offline location. This will protect it from hackers.


In addition, putting your Bitcoin into an IRA would be ideal for maximum security and insurance.

Definitely learn how to properly make a secure bitcoin investment.


For starters, you will need to learn how and where you can purchase Bitcoin. A reliable exchange such as Gemini or Paxful is a good start.


Second, you will need to grab a good cold wallet. A hardware wallet is the most secure and versatile option for investors. Savvy investors can start a Cryptocurrency IRA or 401k and/or make an insured cash investment. Personally, I have a Ledger Nano S from the Black Friday promotion.

Well for starters, you need to have the Bitcoin wallet secure, then everything else like investment comes into picture. Unfortunately, the majority I know don’t have much info about the wallet stuff. They just follow what everyone does so there is no further input by themselves, which creates all the trouble.


So, we need to first understand that concept, and only after we are done with it that we could move towards betterment of things in terms of safety/security, and eventually investment.

I use the default Bitcoin client BitcoinCore. Ok, you need to download the whole blockchain (about 200 GB) but that's worth it.

It’s unquestionably an eventful time in the world of cryptocurrency and blockchain. If you want to participate in the space, just make sure you’re willing to accept the associated risk and to minimize that risk by doing everything you can to secure your digital assets and identity.

Blockchain distributes the same information to every user (or node) on the blockchain network. When you make a change, the network validates it and then miners (nodes rewarded for updating the blockchain) add that transaction into a new block, which is then added to the blockchain. HighBank believes that Bitcoin’s dominance will diminish in the future as more players join the crypto marketplace. Notably, Ethereum—a Blockchain unveiled in 2015 by Vitalik Buterin—has demonstrated its potential to change the entire structure of crypto markets via its smart contracts capability. 

You can follow my suggestions to keep safe your bitcion or other crypto currency. Keep separate wallets. If the wallet you use for spending bitcoin also contains your entire bitcoin holdings, your savings will be vulnerable to various types of abuse. Don't keep your savings in a web wallet. Protect your privacy. Never share your private keys with anyone else. If your wallet address (ie. your public key) is the equivalent of your bank account number, then your private wallet key is your PIN. Once you have a file containing your wallet keys, you can put this anywhere: flash drive, optical disk, portable hard drive, on paper, etc.