{"id":6920,"date":"2022-07-28T09:58:54","date_gmt":"2022-07-28T07:58:54","guid":{"rendered":"http:\/\/blog.bart.sk\/en\/?p=6920"},"modified":"2022-09-07T10:15:11","modified_gmt":"2022-09-07T08:15:11","slug":"secured-cryptocurrencies-7-tips-better-sleep","status":"publish","type":"post","link":"https:\/\/blog.bart.sk\/en\/secured-cryptocurrencies-7-tips-better-sleep\/","title":{"rendered":"Secured Cryptocurrencies – 7 Tips for a Better Sleep"},"content":{"rendered":"

Blockchain-based technologies and cryptocurrencies as such promise you maximum security. But over the last few years, I’ve read hundreds of reports about investors who have lost their crypto savings for various reasons. Whether it’s improper private key retention, stock market hacking or phishing, there are plenty of ways to turn from a rich man to a pauper in minutes. If you have bought some bitcoin or ethereum, I wrote down my tips on how to protect them. <\/b><\/p>\n

Your cryptocurrency is only as secure as your wallet<\/b><\/h2>\n

With cryptocurrencies, you’re your own bank. The main disadvantage of this fact is that once digital money leaves your wallet, there’s no way to return it. There’s no insurance or phone support that can help you. That’s why it’s important to do everything possible to secure your cryptocurrencies.<\/span><\/p>\n

In general, you should only use cryptocurrency wallets developed by reputable companies. There are two basic types of wallets:<\/span><\/p>\n

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  1. Hot wallets<\/b> – they’re connected to the Internet and used to store money for everyday use (e.g. I have my crypto portfolio without physical holding on a (for me) user-friendly eToro platform).<\/span><\/li>\n
  2. Cold wallets<\/b> – they are not connected to the Internet, and they have never been, and thus, of course, they are safer. It’s therefore worth depositing your savings on them. You can choose from:<\/span><\/li>\n<\/ol>\n