5 SIMPLE FACTS THAT WILL SAVE YOU FROM TERRIBLE LOSSES
Posted by: BITCOINSTEIN, OCTOBER-1-2017
So you got yourself some Bitcoins and trying to arrange yourself a way to keep them safe. Start from avoiding the most common mistakes almost every beginner does. It may seem complicated to protect your Bitcoin wallet, but if you will follow this guide - you will be able to keep your virtual coins safe.
IF YOU CAN’T TELL THE DIFFERENCE BETWEEN A BEER HOLDER TO YOUR CD-ROM, YOU SHOULD STAY AWAY FROM BITCOINS
YOUR COMPUTERS AND PHONES DON’T MATTERS, IT IS WHAT YOU CREATE WITH THEM THAT COUNTS.
Look, the last thing we are willing to do is to disrespect your hard-earned devices. But our point is that Hardware and Softwares are replaceable, but we can not say the same about your Data - Once you lose it and you got no backup - It's gone and probably forever.
Get yourself several USB Sticks - and back your important information.
NO MORE MOBILE WALLETS!
Mobile wallets are great to store small amount of money, When we are talking about small - we mean up to $100.
Let's repeat once again, Do NOT use your mobile wallet as your primary storage. If you lose your phone or it is getting hacked - your hard earned money is gone for-ever.
Do you guys remember the time when mass naked pics of celebrities showed up online because many mobile phones have been hacked? Don't make the same mistake with your money.
Andreas Antonopoulos, the famous crypto-entrepreneur and the author of the amazing book - Mastering Bitcoin said: “nothing teaches someone about security faster than having their Bitcoin on a Windows machine.” In other words, as soon as someone hacks your Mobile / Desktop wallet and steal away your entire Digital Money, only then you are going to get really interested in securing your Bitcoins.
DONT PANIC - NOW IT IS THE PART OF THE SOLUTIONS
You first wallet choice should be a hardware wallet. Yes, it has a small price, but after you will purchase your first hardware wallet - you will feel secure.
We receive more and more complaints from people who have lost their Bitcoins be-cause they had no clue how to secure themselves. Lucky you being able to bypass the same incorrect decisions.
We love the hardware wallet for one reason - it is the most SIMPLE way to secure you Bitcoins, especially if you are a beginner.
If you are willing to get cheaper solutions, of course, you can get yourself any USB stick, and store your data there using encryption. If software as Veracrypt and TrueCrypt are new to you, you can save yourself a lot of time but just getting one.
CONCLUSION! TAKE YOUR DIGITAL MONEY SERIOUSLY
Having Bitcoin may empower you controlling your funds, but as we all know - it comes with responsibility.
Anyone who has lived through a financial crisis got his lesson in a hard way. Being in a position when you can not take your money out of your bank is probably the last thing we all want.
You might think you own it, But you don’t. If you will keep it in the bank - the bank owes your money. Keeping your Bitcoins in an exchange? the exchange owns your Bitcoins.
If you think think this information is valuable - Share it with the world! And if not? Also, a CD-ROM can work as a Beer holder.
BE A GROWN-UP AND MAKE YOUR OWN DECISION WHERE TO PUT YOUR MONEY, THIS POST IS NOT A FINANCIAL ADVICE SINCE I AM NOT A FINANCIAL ADVISER, I JUST HOPE OUR BITCOIN COMMUNITY WILL GROW - SMARTLY.