Bitcoin is a decentralized asset, and it is in a virtual form, which is why you have to keep them in a bitcoin wallet. Unfortunately, there are numerous stories in which people lose their Bitcoins because of the lack of security of crypto wallets. You can save yourself from losing your Bitcoins by improving your digital wallet’s security level at bitqt. You are hearing me right. There are many ways by which you can improve the level of security of a bitcoin wallet. We all know that Bitcoin holders are highly vulnerable to cyber-attacks because Bitcoin runs electronically. It is why choosing a secure Bitcoin wallet is very important for you. To aid you in Bitcoins from getting hacked, here are some security features you can consider and some measures that will help improve those features’ security.
You need to know that the Bitcoin wallet with two-factor authentication is the best. The 2FA security feature adds safety to your Bitcoin wallet. In this feature, you will require verification before completion of account activities like signing up as well as withdrawing the funds. Every time you access your Bitcoin wallet, you have to provide the 2FA code. So you will understand if anyone tries to access your Bitcoin wallet or not. Someone can know about your case, but it is impossible for someone to also know about the two authentication codes. So by enabling this feature in your Bitcoin wallet, you will be providing more safety to your wallet.
Encryption of Bitcoin wallet
Along with enabling two-factor authentication, the encryption of the Bitcoin wallet is also essential. It is another defence line that you can use against cyber attacks. It allows you to create a password and keep your Bitcoin safe with the help of a lock. You will get a notification whenever a person attempts to access your account. The hacker can steal unless the private key is known.
Backup your wallet
Some Bitcoin wallet providers allow the users to backup Bitcoin wallet data. You might not know, but backing up will allow you to get your information if you face a software failure. It is also possible to restore your funds and data in case they get stolen, or you lose them. However, you should make sure that you are using multiple backup devices for the process of easy account recovery.
Multi sign feature
If you are holding many Bitcoins, getting yourself a wallet with a multisig feature is one of the best ways to keep your Bitcoin funds safe. Some Bitcoin wallets support this feature in which it is required to do digital signatures of multiple users before accessing the wallet. Without having the approval of these all users, the hackers will not be able to access your Bitcoin wallet, and there is no possibility of committing your Bitcoin funds illegally. You should also check that your Bitcoin wallet supports this feature and enable it if you haven’t already.
Don’t give your private key.
You must know that your private keys are like your bank pin, so you should treat them like that. The private key will help you access your Bitcoin wallet, so you should never give away your private key to anyone. One of the best ways to protect your wallet and your Bitcoin finds is to keep the private keys offline. You should know that you can write your private keys on paper and then keep them safe in the bank locker.
Use secure internet
If you love public Wi-Fi, you should know that hackers also love them. The public access to Wi-Fi networks is unsecured, making it easy for the hackers to steal the user’s confidential information. If you are accessing your Bitcoin wallets through public Wi-Fi, it can be risky because hackers can access your Bitcoin wallet. It is the reason that you must have a VPN to secure the network. There will be no chances of security issues while using a VPN network.