In today’s world, maintaining online privacy and security has become quite a big deal. Despite all the technological advancements, the hackers are still able to find ways to breach the security of internet users – especially those involved in Bitcoin transactions.
Since Bitcoin is the most valuable form of digital currency out there, hackers particularly target those who prefer to store their wealth in the digital realm.
But it’s not only hackers that are stealing your data. Government and non-state actors also spy on your personal information. But don’t worry, there are many steps that one can take to secure his online privacy and the Bitcoin security.
First, we will talk about how to protect your privacy online.
How to Protect Your Bitcoin Online:
Online Bitcoin Security:
Web Browsers That Are Privacy-Centric:
There are very few browsers that put user privacy on top of their priority list. Brave browser, Mozilla’s Firefox and Tor browser are few to name.
Here is a brief idea as to how each of these browsers works:
- Blocks ads
- Blocks tracking applications
- Uses bitcoins incentives to give users a better experience
Mozilla Firefox is a great tool if you want extensions that focus on security and confidentiality of a user.
One of the top-notch browsers that provide complete anonymity to its users. Some highlights of Tor browser include:
- Hides IP
- Obscures the proxies
- Allows users to surf websites that are not indexed on traditional browsers like Google Chrome.
Use a VPN:
A Virtual Private Network (VPN) changes a user’s IP address and server location. Moreover, they provide re-routing and encryption which provide the users with complete anonymity. As a result, third parties are unable to track the location and interfere with the privacy of a user.
Use Email/Messaging Services That Provide End to End Encryption:
Use privacy-focused email services such as Tutanota, Protonmail, etc. as they provide end to end encryption. These services are extremely useful to communicate with other users without giving away your personal details.
You can also read our guide on the safest Bitcoin wallets to ensure the safety of your Bitcoin assets.
How to Protect Your Bitcoin Online?
Following are the ways that can help you keep your bitcoin safe from a security threat.
The system requires more than one person and keys to authorize a Bitcoin transaction. It’s a digital signature scheme and protects the cryptocurrency from being spent without informing all the signers.
The system involves storing your assets offline. Cold storage helps to keep your bitcoins away from intruders. The cold storage techniques can store online wallets, offline wallets, paper wallets and other forms of protected media.
Backing Up the Information:
Most the privacy and security-focused services use passwords, PINs and secret phrases to gain access. Backing up these details so they won’t be lost is a good idea.
Learn how to backup Bitcoin wallet and other related information here.
Make copies of your security codes, PINs, password and store them in secure, offline location. If you don’t backup the information and, unfortunately, lose your wallet - there is no way to recover the lost assets.