Bitcoin Forum

Bitcoin and cryptocurrencies have earned a reputation to be prone to scammers and hacks. Right from big exchanges hacks that have resulted in hundreds of millions of dollars worth of crypto being lost to Twitter impersonating scammers trying to lure new investors to send them their tokens with the expectation of getting more, there have been many instances that justify the popular belief that it is unsafe to keep your tokens online. Since there is no middle party like a bank to guarantee the security, users must learn how to secure Bitcoin and other crypto tokens.

To understand the security of a cryptocurrency, we need to understand how the ownership works.

Read here to know in detail: https://coinswitch.co/news/10-best-ways-to-keep-your-cryptocurrencies-safe-in-2019

Security is very important and hackers are always ready to steal our coins that's why I use only hardware wallet to protect and store my coins. I use exchanges only to buy and then instantly withdraw to my hardware wallet... in that way I never had a problem.

Have your own wallet.
Have a multisig address
Keep you private keys and secure
I think this does not require you to be a rocket scientist. Very easy. I recommend Electrum desktop version.

Keep private is safe (do not share your private key)
Prefer using Non-custodail exchanges like Changelly, Coinswitch etc.
Prefer platforms that do not ask for my personal documents (i.e., no KYC)
Enable 2FA
Store my funds in hardware wallet

These are few rules that I follow.

security is one of the most important factors, some council keep on your own wallet with 2fa or a hardware wallet the altcoins, on the exchange move only the altcoins to be changed and then immediately move it back on your own wallet

Well, I have been around 2 years on getting Electrum to safe my bitcoins and its still safe even though electrum got hacked. Security is depends on how you taking care of yours.

In my case, I use a desktop version from a various wallet, I never web wallet, I don't trust it I have seen so many hacking incidents using web wallet, but still it all goes down how educated you are in securing all your coins, you are your bank.

I only agree and believe that storing the safest coins is only on hardware wallets, now it is very prone to save in an online wallet because it is still directly related to computer activity, viruses can come suddenly without us knowing it so that all private keys have been hacked without realizing it I have experienced this incident

That's right because keeping our asset wallets is very important and makes security tight, because from that time more hackers targeted our assets.

Everything breaks is not forever, so you need to make a backup. The more expensive your coins, the more willing to steal them. Therefore, the protection of the wallet is necessary. Set a strong password, encrypt the secret keys, put a good antivirus, there should be at least two purses, hot for trading and cold for storage. And you should not use public Wi-Fi networks. Protection of personal property is up to us.

Cryptocurrencies are much safer than banks. Remember in2008 during financial crisis when bankers waited in queues to get money from the bank to kkep their money safe? In cruptocurencies you just need to understand technology and dont get scamed.

Easiest way is to buy hardware wallet and then

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Write your private key on multiple papers and keep it on places on your house that you can easily remember and you are the only one that knows it.

It definitely needs to improve the security at moment. There are so many exchanges don’t have high security standard. Many of them are easy to be hacked, might be there should be some insurance policy for the exchange, so if anything go wrong, there would be back up fund for customers to pay their loss.

when you are using an online service and have things such as 2FA that means you are not safe because you are relying on that third party to keep your coins safe for you and they can decide to do whatever they want with your coins without your consent.
that only leaves 1 way of being safe and that is to use cold storage so that you are in full control.

There is no best way because all the ways of saving your cryptocurrencies also come with their risks and disadvantages. I see many people claiming that hardware wallet is best. But have you thought of the possibility of losing that wallet to theft or being robbed?

there is only three ways. stop clicking every link, use google chrom browser and keep your keys on flash and paper.

I think the most important thing that would keep it safe to keep cryptocurrency in a cold wallet and take the time to buy that would avoid losing money. You need to buy parts, confident and not afraid that the asset that you buy will fall in price. A year or two and everything will be fine.

In cryptosphere, hacking and phishing are somehow common news already and most of those victims are new to wallets and not savy enough that they'd login without checking the url. privatekeys are much essential as your house keys.


Wasn't there an issue about changelly where someone accused them for having no real team members and was then believed to have been owned by a Russian? I have no idea whether that was resolved by to my recollection this was the accusation about it.

Nice article.  Number 2 is the most common mistake many  cryptocurrency traders make

 Trading on centralized exchange is dangerous. If you must trade on them, trade with small amount or amount you can afford to lose. Never put all your funds on a centralized exchange no matter how attractive it may be.
Decentralized exchanges are safe alternative to centralized exchange.

My best way to keep the safe for my coins is to note all password and key at notebook and save in safe place and never believe anyone

Securing crypto assets is very simple.
Choose the best digital wallet like MEW and store the Private Key properly, not to give it to someone else.
Avoid web pishing.
Don't choose an exchange with a bad reputation because it will potentially be a scam.

I protect my cryptocurrencies by bookmarking the official website when I visit, not clicking strange links, scanning the virus once a week. I still feel safe and do not lose any token or coins.

Keeping your private key to someone is the basic way to keep your cryptocurrencies safe and secure. All of my funds are in my hardware wallet which is ledger. Do not keep your funds in a exchange wallet and do not click untrusted link.

No, the bank is still safer than cryptocurrency after all. You won't have to worry too much if you send money to the bank, you only lose money when the global economic crisis happens and it's very hard to happen in this era.

That is right. Without security, the prospect of your investment in any of the asset could be blur.
I believe that mindset is the best thing one can have to keep the investment secure. If one knows about the possible threat that could take place in future and destroy his investment in a particular coin, he would never invest there.

For example, if you invest in Bitcoin, you are not as vulnerable to a hack as someone who invest in a token issued by any company.

I noticed that in recent times, even wallets there were previously made for just one coin has now been modified to accommodate others as well, one prime example of such is the Blockchain wallet, they started with bitcoin, now they accept Bitcoin Cash, Ethereum and even Stellar.

Only thing I have to say is not to keep any of your coins in exchanges. I lost $400 when Cryptopia went down.

Multi wallets are great because of convenience especially if you are someone who always makes transactions with different kinds of coins.I agree and the official wallet is the main choice that I always use, because it is more supportive for the coin itself and also does not need to pay for it. But everyone has their own choice and convenience for the wallet they will use.

Nothing beats using paper wallets with QR codes. Better yet is to split the private keys into two and then re-combine them if you plan to spend. Don't get phished!

Hardware wallet are best in terms of security of cryptocurencies. Online transactions are safe if you know what you are doing,this idea is almost applied to all online actions imo. For newbies accepting decisions based on trading  activity should consider the safety first later he can think about profits.

the most important thing is that we have to be careful with phishing sites that allow us to import our private key and then we are tricked by them.

2Fa is very important to secure your accounts. I remembered I have this one wallet and they're trying to hack my password. An email warned me that someone is trying to open my account with a different IP address including their country. So, I immediately install google Authenticator for security purposes.

Best way how to keep your asset is safe on your wallet is always keep hold id on offline wallet like using nano ledger, you can hold or safe your balance on exchange wallet but always keep use security added for your account.

I think safety can be started from our self to prevent all the possibilities that we could get scammed.
For example, to be always to double check every website or something like it before we access our fund using private key or any other personal data.

This is for sure that everyone will want to keep their coins safe, just like how you keep your valuable safe. There are a few things I will follow which are:

1) Never reveal private keys
2) Bookmark the crypto websites
3) Use a hardware wallet
4) Always think twice when there is a good offer or freebie.

For every cryptocurrency platform I use, I always ensure that there is optimum security, not just by the platform itself, but that I also personally do what I can in my capacity to ensure that my assets are safe. An example of such is putting up 2FA factor in securing whatever it can work with. Also I try as much as possible not to disclose anything private to a third party.

Yes, that is indeed one of the best ways to save your wallet, choose a safe wallet so that the assets you have are well preserved so you don't need to panic your assets will be lost, because they have been placed in the right place

The essence of the article is how to maintain the security of assets that we have by storing them in a secure wallet. Very good to be used as a reference for beginners, so they can maintain their assets properly. If it relates to assets, make sure you have a backup key and make backups on several media. Make sure websites that you use often are safe, not phishing, bookmark important websites that you often use to transact.

I think the security of the crypto assets we have depends on how we store them. basically the privatkey key is held by our own hands and of course losing the token in the wallet not far from the holder unless we save in the exchange the opportunity to be hacked there is, it is important to always maintain the assets that we have.

There is no secret. Cold wallets and make some backups and always leave them organized and clean these wallets.

To maintain our Cryptocurrency we, of course, have to improve security. Using Google Authenticator I think is very important so it's not easy to hack. You must use many Ethereum based wallets. Because I keep my Cryptocurrency in several wallets, it's still very safe.

It is extremely important to be educated on security when it comes to crypto assets. With the increased in scam and hacks in the crypto world space, security has become a priority which everyone should take note of.

You just need to keep your coin in your wallet to store it and protect the private key to avoid being stolen by those who intend to steal your coin. Private key protection seems to be the most important step, if you lose it, you will lose your entire coin

I think there are always dangerous things in cryptocurrency world and it always be. So you have to spread your risk. Ofcourse if you pay and get one Ledger Nano X your problems would solve. But if you don't have one you need to save your coins in different places. I always save my coins in some exchganes which i trust and i use google autenticator and confirmation mail at the same time.

I'm not too concerned about hackers in this market. I'm not too careful, I just store all my altcoin at mew and leave it in my personal computer. My computer is always clean and I believe I will never be hacked