Hackers in our lives and assets protection

[iTradeBit]

Hi, friends! There is a question:  the assets of cryptocurrency owners are oftenattacked by hackers. What method of protection  haveyou chosen? What are your most reliable ways and wallets for storing coins?

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[Bitcoin_Arena]

The most safe method ls are:
1. Paper wallets: this is the easiest to do, you just print your public and private keys or even seed phrases in a piece of paper and you keep it in a secure place. You could make more than one copy just incase you loose or misplace the other.

2. Use of Hardware wallets like Trezor or Ledger Nano to keep your crypto assets offline from potential hackers

[geminiboy]

Hi, friends! There is a question:  the assets of cryptocurrency owners are oftenattacked by hackers. What method of protection  haveyou chosen? What are your most reliable ways and wallets for storing coins?

all the wallets that I have for storing all my coins using a private key and using telephone and email number verification, this step is strong enough for the wallet security factor

[sunsilk]

2. Use of Hardware wallets like Trezor or Ledger Nano to keep your crypto assets offline from potential hackers

This is how I'm keeping my coins safely. Having hardware wallet is one of the best and most effective way to protect your asset from hackers but being responsible always comes first.

all the wallets that I have for storing all my coins using a private key and using telephone and email number verification, this step is strong enough for the wallet security factor

Having a 2FA creates a stronger security for your wallet whether its from exchange or online wallet. I find this also an effective way to secure your funds. Upon storing your private keys, don't ever use a cloud storage or an email to keep it.

[bob123]

The best protection is granted when all sensitive information are stored in an isolated environment.

Each communication to the 'outside' can be seen as a potential vulnerability. Without any communication channel, there is no surface for an attacker to gain access to the private key.

However, the less communicating channels your storage device has, the less convenient the usage is.


The most secured option is to have your coins stored on a dedicated offline machine without any connection to the outside (no bluetooth, wifi, LAN, etc..).
At the same time it is the least convenient one to spend coins from.

On the other side - the least secured option - is to have your coins stored on a web wallet. It is accessible by anyone from everywhere, making it very convenient to access your coins.
But the downside is that it is the least secured option (and should always be avoided if possible!).

IMO, the best trade-off between security and convenience is a hardware wallet. It stores the private keys in an isolated offline environment, while still allowing you to easily access your coins anytime and everywhere (assuming you got your hardware wallet with you).


It might be worth to note that 'hacking' isn't the only way to lose coins. A LOT of people are simply being scammed. The best and most secured wallet doesn't help you, if you don't use your common sense.

[PsylockReborn]

Hi, friends! There is a question:  the assets of cryptocurrency owners are oftenattacked by hackers. What method of protection  haveyou chosen? What are your most reliable ways and wallets for storing coins?

Most of the time the reason why a person is being hacked is because of human error.
With this new technology, there are people who loves to take advantage of other
people's weaknesses. Scammers and hackers are rampant nowadays and those who
lack knowledge about the technology are more vulnerable to those attacks.

As for myself I just stay away from clicking suspicious links and I'm currently using
Ledger Nano for my crypto investments.

As long as I'm the only one who knows my private keys then I'm pretty confident that
my money in safe.

[mk4]

The most safe method ls are:
1. Paper wallets: this is the easiest to do, you just print your public and private keys or even seed phrases in a piece of paper and you keep it in a secure place. You could make more than one copy just incase you loose or misplace the other.

It's easy to do, but probably not THAT easy to do in a secure manner. To make a paper wallet in a secure manner, you need to take extra safety precautions to ensure that the private keys aren't exposed. But yea, hardware wallets are the way to go for the typical non tech savvy person in my opinion.


To OP: reading this pinned topic might give an answer to your question: Topic: [General] Bitcoin Wallets - Which, what, why? https://bitcointalk.org/index.php?topic=1631151.0

[Carbonsong]

It's easy to do, but probably not THAT easy to do in a secure manner. To make a paper wallet in a secure manner, you need to take extra safety precautions to ensure that the private keys aren't exposed. But yea, hardware wallets are the way to go for the typical non tech savvy person in my opinion.

Agreed, paper wallets are only as secure as the equipment used to make them.  An offline computer, and offline printer (with no integral memory) are needed to create secure paper wallets.  Then you need to keep them safe from fire or water damage.  I prefer using Bip39 seed wallets, which are easy to set up as watch only in Electrum.  But again, the wallet is only as safe as your seed.

Like others have mentioned the safest and easiest wallet for a newbie is a hardware wallet.  The new Trezor looks super cool.

[NeuroticFish]

What method of protection  haveyou chosen? What are your most reliable ways and wallets for storing coins?

I use paper wallet (really-really on paper) for the amount I don't want to touch. It also helps psychologically to hodl, since it's not easy to type the private key in
The safest, as bob123 also stated, is the cold storage. A computer that never goes online is more difficult to be hacked. Of course, it's also less convenient to go with the USB stick from here to there to sign the transaction(s).

[Harlot]

Since wallets are the most discussed solutions here I thought I need to focused in another way to avoid hackers accessing you cryptocurrency . Just by simply not being fooled by phishing sites is one of the best way of protecting your assets especially if you are holding your cryptocurrencies in a web wallet. This hackers don't even need your private key as you are simply filling the blanks for them with the information you are giving. Don't be fooled by this attractive websites as they will most likely steal something from you.

[Marcel666]

As has already been advised, you can use a paper or a hardware wallet and also avoid phishing sites.
You can also protect your device from Malwares by installing an antivirus app.

However, you are not always in possession of your assets especially when trading in exchanges and this is where majority of hacks occur.

In a decentralized exchange always use metamask to protect yourself when trading.
Avoid keeping your assets on an exchange when not actively trading it.

[Jalal ud din]

Security measurements are different for different wallet.If you are using Online wallet than the risk of being unsecure  is high.You
will make it secure by doing some steps like 2FA,Strong Password (if using bitcoin wallet),regularly backup(for hardware wallet),do not use public wifi during transaction and so on .But when it comes to paper wallet its more secure.There are tons of information and article out there on internet on security issues about wallet so please check that out.

[BQ]

Hi, friends! There is a question:  the assets of cryptocurrency owners are oftenattacked by hackers. What method of protection  haveyou chosen? What are your most reliable ways and wallets for storing coins?

all the wallets that I have for storing all my coins using a private key and using telephone and email number verification, this step is strong enough for the wallet security factor

phone and email verification? so on some exchange or wallet site? then it's not entirely in your hands, that's not the safest choice to rely on a third party!


on topic it's more difficult to secure oneself, but once secured it's far more safe than other things.
here is some tips: https://bitcointalk.org/index.php?topic=3576100

[Gershonxer]

Always activate 2 factor authenticator on exchanges if your funds are there. I don't always trust SMS authenticator because a hacker can go to the length of dublicating your SIM details or do a welcome back on your SIM.
Never store your private keys on a centralized clouf storage cloud storage because it can be compromized. Better to be safe than sorry