What is the Best way to Secure Your Bitcoin Holdings?

[Nicksy]

In the current digital era, securing Bitcoin holdings is of paramount importance. The increasing value and popularity of Bitcoin have made it a prime target for cybercriminals. Bitcoin’s decentralized nature and irreversible transactions necessitate robust security measures to protect one’s investment.

https://bitcoinics.com/best-way-to-secure-your-bitcoin-holdings/

[_act_]

The increasing value and popularity of Bitcoin have made it a prime target for cybercriminals.

This is not correct. Bitcoin linked to criminal usage is reducing. Fiat are still more used than cryptocurrencies by criminals. Other cryptocurrencies,, especially stable coins like USDT has taken over bitcoin in criminal usage. I do not know what caused this. Maybe it is the high fee transaction and how stable coin has dollar pegged price are the reasons.

[Frankolala]

In the current digital era, securing Bitcoin holdings is of paramount importance. The increasing value and popularity of Bitcoin have made it a prime target for cybercriminals. Bitcoin’s decentralized nature and irreversible transactions necessitate robust security measures to protect one’s investment.

https://bitcoinics.com/best-way-to-secure-your-bitcoin-holdings/

To secure your bitcoin holdings you must use a self custody wallet and if it is a big amount that you don't plan selling, it is good that you use a hardware wallet or you can use electrum cold storage wallet and generate the keys on an airgapped device. After that you need a watch only wallet to monitor, broadcast and track your transaction. If it is a small amount of bitcoin you can use online noncustodial wallets like Electrum or Blue wallet.

The increasing value and popularity of Bitcoin have made it a prime target for cybercriminals.

This is not correct. Bitcoin linked to criminal usage is reducing. Fiat are still more used than cryptocurrencies by criminals. Other cryptocurrencies,, especially stable coins like USDT has taken over bitcoin in criminal usage. I do not know what caused this. Maybe it is the high fee transaction and how stable coin has dollar pegged price are the reasons.

I agree with you but you will not hear the government saying a lot of negative things about USDT because it is their own currency. USDT is commonly use nowadays than Bitcoin and I believe that it is the transaction fee that is the cause.

[kryptqnick]

What is extremely important but not emphasized in the article the op shared is custodial vs noncustodial wallets. In the first case, your money is actually stored by someone else, and it's up to them to freeze your funds, request certain documents, approve or deny a transaction or simply perform an exit scam. It can be useful in case you forget your password or something, but unsafe from other perspectives. Noncustodial wallets are those in which storing BTC is your sole responsibility. It's generally considered safer, but it can also be an issue in case you lock yourself out.

[SickDayIn]

Other than the standard recommendations to put your Bitcoin holdings in a hardware wallet and hold your own keys, I have some recommendations that people often forget about or miss.

1. Do not tell anyone you have Bitcoin.
You do not want to be known as the "crypto bro" amongst your family and friends. People will not keep their lips sealed tight, and they will tell everyone. Eventually, it might get out and you will be targeted. We have only just recently seen the beginning of cryptocurrency home invasions, and we can expect this to rise. See this story by wired from yesterday: https://www.wired.com/story/crypto-home-invasion-crime-ring/

2. Do not link your personal information with Bitcoin.
If you supply your personal email, mobile number, address, name or any other personal information, you will be targeted. Do not share your information to Bitcoin conferences or events. Do not join Bitcoin groups on Facebook with your real name. This information will eventually be leaked or hacked, and someone will link your real identity, to someone with cryptocurrency holdings. You will be targeted for sim swapping attack, email takeovers, and identity theft, to hijack any cryptocurrency exchange accounts you have.

[Stepstowealth]

In the current digital era, securing Bitcoin holdings is of paramount importance. The increasing value and popularity of Bitcoin have made it a prime target for cybercriminals.

Cyber criminals are not the only people that you should be worried and be careful about where you start investing in Bitcoin. You also need to be careful about the people you call friends and then your family members because the people that are cyber criminals are also humans and sometimes they may be our friends and some of our family members without us even knowing. We have to be careful about the information we gave them about our investment in Bitcoin and if we must trust them to talk about it, trust them because they've earned our trust and not because they just answer the name of our family members or just a friend.