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June 25, 2018, 08:24:48 PM |
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1. Separate your bitcoins to hot and cold wallets
Online wallets are called “hot wallets”, since they are at high risk to network based attacks. If you are running any kind of Bitcoin online business, offline (‘cold’) wallets will be a better tool. They are way safer and they are not so attractive for hackers. It would be ideal to keep the bulk of your Bitcoin funds on the cold wallet. And for your day to day Bitcoin transactions keep just a small float of your Bitcoins on your online wallet.
2. Store private keys offline
In order to enhance the security of your Bitcoin wallet, remove its private keys and then store them somewhere, perhaps, in a separate computer which is not connected to the Internet. To make a payment generate the transaction on the online computer, bring it to the offline computer (on a USB stick) for signing with the private key, and then bring it back to the online computer to complete the transaction. This way, you can be sure that it will not be compromised by hacker or malware attacks.
3. Use fragmented backups
Even though you only need to make one backup of your seed ever, it is still sensible to make multiple copies of this backup and store them at different locations. If you are concerned about the physical security of your backup, make a fragmented backup. This splits the seed into, say, six fragments, with any four needed to recreate the seed. You can then store each fragment in a different location; to get access to your wallet, a thief would have to access four of the six fragments.
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